Is Trading Like Gambling
- Is Trading Considered Gambling
- Is Trading Like Gambling Games
- Is Options Trading Like Gambling
- Is Stock Trading Like Gambling
- Is Trading Just Gambling
Is Forex Trading the same as Gambling?
While there are some similarities between finance and casino - the fact that both are risky, binary options trading can be mastered by using financial analysis. While the perception is that futures trading is like gambling, the reality is that there are some crucial differences.
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 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 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 lets his emotions dictate his actions to trade impatiently and illogically.
Unlike gambling, trading is much more than just betting on an outcome.
A good trader has and adheres to a trading plan that gives him the statistical edge of winning.
He monitors the trades in progress and trail his stops to maximize his profits and minimize his losses.
Automating his profitable trading plan will give him the added advantages of freeing him the time to trade around the clock and without the emotional ups and downs that can cause many good trades to turn bad and bad ones to become worse.
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 $5 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 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.
Is Trading Considered Gambling
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.
Why Forex?
Gambling
Is Trading Like Gambling Games
Life is a gamble and most people like to play in one form or another. We gamble on love, money, or wager on just about anything. It's fun and tests our intuition and luck.
Gambling is the wagering of money or something of material value (referred to as 'the stakes') on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods. Typically, the outcome of the wager is evident within a short period.
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The term gaming in this context typically refers to instances in which the activity has been specifically permitted by law. The two words are not mutually exclusive; i.e., a gaming company offers (legal) gambling activities to the public and may be regulated by one of many gaming control boards, for example, the Nevada Gaming Control Board. However, this distinction is not universally observed in the English-speaking world. For instance, in the UK, the regulator of gambling activities is called the Gambling Commission (not the Gaming Commission).
Gambling is also a major international commercial activity, with the legal gambling market totaling an estimated $335 billion in 2009. In other forms, gambling can be conducted with materials which have a value, but are not real money. For example, players of marbles games might wager marbles, and likewise games of Pogs or Magic: The Gathering can be played with the collectible game pieces (respectively, small discs and trading cards) as stakes, resulting in a meta-game regarding the value of a player's collection of pieces.
One can also bet with another person that a statement is true or false, or that a specified event will happen (a 'back bet') or will not happen (a 'lay bet') within a specified time. This occurs in particular when two people have opposing but strongly held views on truth or events. Not only do the parties hope to gain from the bet, they place the bet also to demonstrate their certainty about the issue. Some means of determining the issue at stake must exist. Sometimes the amount bet remains nominal, demonstrating the outcome as one of principle rather than of financial importance.
In 2014 millions of people are attracted to online gambling - especially with the ongoing recession and high unemployment rate. They visit online sites like Pokersites.com in hopes of making fast money. Sites like Casino.org offers the best US Online Casino for US Players.
With the rise in the use of the internet, legislators have been faced with a new form of gambling and as such have had to re-write their gambling legislations to include the online variants.
Canada has a completely different legal structure to the UK (regulated market) or the USA (regulation State by State). In Canada it is not regarded as illegal to gamble online because the market is considered 'Grey'.As a result sites like A2Zcasinos.org guides Canucks in finding the online casinos that are trusted and safe.
History of Gambling
Religious perspectives on gambling have been mixed. Ancient Hindu poems like the Gambler's Lament and the Mahabharata testify to the popularity of gambling among ancient Indians. However, the text Arthashastra (c. 4th century BCE) recommends taxation and control of gambling. Both the Catholic and Jewish traditions have even set aside days for gambling, (for Jews Hanukkah), although religious authorities generally disapprove of gambling. Ancient Jewish authorities frowned on gambling, even disqualifying professional gamblers from testifying in court.
The Catholic Church holds the position that there is no moral impediment to gambling, so long as it is fair, all bettors have a reasonable chance of winning, there is no fraud involved, and the parties involved do not have actual knowledge of the outcome of the bet (unless they have disclosed this knowledge) . Gambling has often been seen as having social consequences. For these social and religious reasons, most legal jurisdictions limit gambling. Some Islamic nations prohibit gambling; most other countries regulate it.
Many popular games played in modern casinos originate from Europe and China. Games such as craps, baccarat, roulette, and blackjack originate from different areas of Europe. A version of keno, an ancient Chinese lottery game, is played in casinos around the world. In addition, pai gow poker, a hybrid between pai gow and poker is also played. Read more ...
Reality is a game, and we are all players here to experience and then go home. Since the beginning of time, gambling has always been part of the equation - legal and illegal. Life is a crap shoot - emotionally, physically, and physically. As reality is based on a dualistic principal - you win some, you lose some. Simulation Hypothesis - Holographic Universe Theory
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