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Is Forex Trading the same as Gambling?

I have been asked many times "Is Forex trading the same as gambling?".

My answers:

Yes, it is gambling when one treats the Forex market like a huge Jackpot machine or Roulette table where the hope of winning is dependent on nothing else but pure luck.
The problem with casino gambling is that the odds are stacked heavily against the gamblers.
In Forex trading, the trader needs only to overcome the odds of a few PIPs spreads payable to the broker before he/she can attempt to make a profit.
Trading "blindly" in the Forex market with no plan or strategy will cause the Forex gambler to lose money just like any game of chance.
The consequence is worsen when the Forex gambler does not apply stop losses in his/her trading.

No, it is NOT gambling when one treats the Forex market like any other business or profession where opportunities can be seized and risks can be mitigated.

The difference between the Casino and the Forex market is that, most are games of chances with the former versus a contest of strategy for the later.
Unlike a game of chance, the Forex trader can rely on price patterns and analysis to decide on the opening and closing a position with a probability of winning in his/her favor.

One of the main issues with gambling, is that it is addictive.
Gamblers step into casinos with nothing but their hope to make money. When they lose money, the desire to recover losses will lead them to gamble more, and often more aggressively.
A Forex trader can easily become a Forex gambler when he/she lets his/her emotions dictate his/her actions to trade impatiently and illogically.

The fact is:
The buying and selling of currencies is no difference from the trading of goods which we try to buy at a lower price and sell them off at a higher price to make a profit.

Why Forex?

No other businesses and professions can beat the $4 trillion a day Forex market in size and the advantages and benefits of Forex trading.

The entry barrier is low. A trader doesn't need a University degree and years in practice to trade.
All he/she needs is an internet connection and a couple of hundred dollars to trade for real, 24/5.5 days a week.
The daily swings of a hundred PIPs or more for the major currency pairs offer the astute traders ample and unmatchable opportunities to ride the trends or to take the profits.

The earning potential is unlimited and the freedom to work for yourself is priceless for those who care to master the skills of trading.

A good trader is like a successful surgeon or business owner.
The pre-requisite is for them to master their skills before they can start to earn a good living for themselves.

The Holy Grail in trading is no different from good practices adopted and perfected by these professionals and businessmen.
They adhere to proven principles and adjust their approaches to changing market conditions to stay ahead of their competitions.

Please click on High Probability Trade Setups and Triggers + Trading the EURUSD to see how price patterns can be used to trade profitably.

My Observations:

It's always better to trade with your own system than to rely on others' because the market is dynamic and requires you to adapt to stay profitable.

Trading with an EA based on profitable trading strategies is a bonus as it will free the trader from having to monitor and react to changing prices.

As an IB, I know of some traders who are making profit consistently in their trading, manually or otherwise.

Based on my analysis of the Traded Volumes, Funded Amounts and Current Balances, many of the profitable traders opened and held on to their trades before closing them within the following few days.

In my opinion, the trader who has the patience to wait for the optimal price to enter the trade, take the first profit with a partial close and let the remaining lots ride the trend will survive and become profitable under most market conditions.

This approach allows the trader to minimize losses from erratic price movements and still capture profits whenever the price continues to move in the right direction.

Can a Christian Trades Forex?





Why Fxprimus is the Right Place for a Beginner to Trade

The Choice is Yours, the Time to Act is Now, and the Clock is Ticking...

FXPRIMUS has been named Most Reliable Broker Asia 2012 and Best Trade Executions 2014 by Global Banking & Finance Review.

Why just trade when you can also earn residual income and rebates for your trading?

Increasing number of Individuals, Corporate Traders, Money Managers and Website Owners have already opted to become our traders and our partners in this $5 trillion daily turnover Forex market. 
As an individual retail trader at FXPRIMUS, you experience a level of fund safety, trade execution and service quality that is normally reserved only for large, institutional investors.

We welcome you to now to enjoy the same advantages as the institutional traders and expand your income potential while offering your referred clients one of the highest available level of service and support.
Please ascertain your eligibility in your application and that the Referral ID is 374 during your signup. Thank you.

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We have helped several of our traders to become more productive by automating their profitable trading rules for FREE.

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and it would be our pleasure to share knowledge and tips on trading and automation with you. We are successful only if we can help you to succeed in your trading.

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