Is Gambling Possible in Forex Market??

Discussion in 'General Forex Discussion' started by Maria08, Jan 7, 2013.

  1. Maria08

    Maria08 Banned

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    Hi friends,
    I see, some people are asking me either we doing gambling or not?...I just laughed at them, and replied, are the gamblers rich enough to control the world's largest money market? .....actually, is it possible to make gambling here??

    what do you think friends?
     
  2. mjmasud003

    mjmasud003 Trader

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    How would you like to earn a Forex rebate on EVERY single trade you make? Win OR lose!
     
  3. hayseed

    hayseed Master Trader

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    true confessions

    in my mind, trading forex is gambling..... some traders make money...... some don't...... forex is a gamble.....

    but then the same can be said of farming...... some farmers make money..... some don't..... farming is a gamble.....

    //----

    it's common to see trading compared to gambling as in flipping a coin..... where there is a 50 50 chance in outcomes...... this comparrison is very narrow minded....

    in trading we simply take our best shot...... but we don't have to shoot in the dark.... and perhaps that is what separates us into the two groups, those that make money and those that do not........ in any event, in either group, i would bet it's gambling....... at least in my mind.......h
     
  4. Fxpipper

    Fxpipper Master Trader

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    First off, fx trading is not gambling, sure you can see why some of the disgruntled traders may prefer to think of trading in gambling terminology. And FWIW, you need luck to win at gambling, down here you need the skill, plain and simple.
     
  5. Philip

    Philip Trader

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    Yes, you can do gambling in Forex but it will not always give the same result. If you take Forex as a gambling so you can’t success every time. In gambling there is always luck matters, no proper knowledge, no risk analysis and no money management.
     
  6. capsmart

    capsmart Active Trader

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    No forex is not gambling. You take a calculated risk like any other business. Of course because of it's nature you can easily convert this business to gambling because there are no fixed rules to protect the trader. Is like having a store and sell furniture. If you are a complete ignorant and do not know where to buy your furniture, have no idea about accounting, sales, control etc if you will succeed it will only be by pure chance. With forex is much better. When you open a trade by tossing a coin you have a 50% chance of making a profit. With the previously mentioned furniture business (or any similar business) you have a much smaller percentage of success.
     
  7. Maria08

    Maria08 Banned

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    right philip- I think gambling has no place here in the Forex market. Gamblers are those who are relying onto their luck with their investments, or let us say clearly a ''bet''. Traders are not making bets here since we are all here analyzing markets making one good strategies to earn our profits consistently.
     
  8. Fxpipper

    Fxpipper Master Trader

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    Sorry but just cannot see any aspect of Fx market as gambling.This is not a case of "50/50" though there are days when it may seem so..
     
  9. rajudkh

    rajudkh Trader

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    no forex is not gambling.it is forex is a business and it is real business.it is good earning way.forex is currency market.millions of people are treadinf this market.and earn money so it is no gambling.
     
  10. TheLastBear

    TheLastBear Banned

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    Gambling is always possible anywhere. Those who compare trading to gambling obviously are not informed.
     
  11. brokenblade

    brokenblade Trader

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    The thing is that some people approach Forex like gambling. However, I think the people that profit consistently from Forex are not gamblers, but are traders who have studied and gained an understanding of their market.
     
  12. hayseed

    hayseed Master Trader

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    //---

    what precentage do you think "profit consistently" ......

    the definition of 'gambling' is fairly consistent no matter which dictionary is used..... it appears, at least to me, 'trading forex' is well within that broad definition.....

    but as you seem to say and i have suggested in a prior post, we don't have to trade forex in the dark......

    thru observation, we can gain both a working knowledge of the markets and get a firm grip on our self-control..... this should create someone who is more of a consistent trader and less of a wreckless gambler......

    my results as seen in my statements posted in my journal are quite consistent..... those results will improve this year.....

    even so, each and every trade was and will be by definition a gamble..... but they are gambles i am confident taking......h
     
  13. brokenblade

    brokenblade Trader

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    I used to think that it was a little more on the 40% area of those who profit. Recently, I've been reading that around 90-95% of (known) traders do not profit from Forex.

    Still, even some (good) gamblers talk about playing the odds. Plus, like you said, a working knowledge of markets and a good grip on our self control can work well for us.
     
  14. dhoozra

    dhoozra Trader

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    we start a business , it will success or loss,that is the way every biz, but ,forex we can earn more by knowing about market behavior
     
  15. hayseed

    hayseed Master Trader

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    forex magnates just posted 4th qtr results...... 3rd qtr here.....

    //----

    one day nfa might require brokers to publish results in a much more detailed manner in which we can draw conclusions from.... for all we know those 40% profitable this qtr might loose it all next qtr.....

    it would be nice to know the results per month, per quarter and especially per year.....

    forex trading is still new to most of us...... the average experience would surely be less than 10 years..... overall i'd expect our yearly % profitable to slowly increase as we ourselves slowly improve......h
     

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