I am sorry for you dude that trading is like a casino for you, you should check post 99 just above yours.
Hanover said: "Even if retail FX is considered "gambling", that makes it no more sinister than other financial markets, lotteries, casinos, sports betting, insurance, or any other activity that involves speculating on an unknown future outcome, all of which are likewise negative expectancy games where the greater majority must necessarily and ultimately lose. Moreover, some of these other games involve speculation that's entirely fortuitous in its nature, offering no opportunity for the advantageous deployment of strategy or proficiency."
More comments from Hanover about 'gambling': https://www.forexfactory.com/search....rchid=14106699
And who is Hanover ? The link did not work for me.
In trading you can have positive expectancy which in gambling you do not (casinos, lotterie, etc...), that is why it is called trading and not gambling.
Trading is considered speculation, and speculation is a form of gambling. If you ever use the word "risk" in any endeavor it is a gamble. There has been a lot of ink spilled that the smaller the timeframe, the closer to a coin flip you are getting. The difference between slot machines and FX is that the coin is weighted based on what traders perceive the market will do, and this will show up at some point on the chart. Young traders are always looking for something that cannot exist, which is the perfect trades.
THERE IS NO SUCH THING.
If your risk is low, then your probability will be low, and vice versa if your risk is high. A high probability low risk trade is what every one in finance is looking for, and it is not an accident that if a professional trader can manage to keep pace with the index after fees then they are a rock star. Amateurs do have the advantage of being nimble because our accounts are small.
So is betting on horses gambling or something else? You analyze the track, the horse, the jockey and so on and then you wager money based any asymmetry between the odds and what you think the actual outcome should/will be.
Yes, we are gambling. It's game of odds. You make a bet every time you trade. When you gamble in a casino you can never win in a long run,
The good thing is that you can find positve expectation trading system when you trade even though it's very difficult.
It is important to understand the difference between betting and gambling. In case we are placing bets on the probability of any outcome, we are betting. At the same time, if we are doing so without an appropriate analysis, we are gambling. We can say that merchant is betting when he buys some goods expecting to sell them later.
That is why we can use the word "gambling" to describe Forex trading only in case it is based only on chance.
Simple question is what do you want it to be.
If you feel guilty about doing it then its probably gambling.
The question you should ask yourself.
What is life.
Life is a gamble. You go for a job interview, thats a gamble.
You climb in a plane. Thats a gamble. The odds are in your favour but if something goes wrong you cant correct the outcome no matter what. Is that not like roulette or any other game.
I can go on for ever but the simple truth to life is. Life is one big gamble.
So if you are doing something you enjoy and its not affecting your family or yourself in a negative way. Then keep doing it.
If you feel trading is a gamble then stop. Move on and go do some gardening to keep you calm.
If you do enjoy "gambling" with your money in Forex then start small with 0.01 lots
see what works for you and stick to what works for you.
Keep the account at $100 dollars or $50 dollars and if you loose it wait till next month. Give yourself a budget and stick with it. If you cant do such a simple thing. Then it is gambling. Then best for you is to walk away.
Gardening is fun and interesting and you get to grow vegetable out of it. (Another gamble.)
If the soil is good and you water your veggies and fruit trees you get fruit or something to eat from it.
So basically if you can control it- (not waist savings or emergency money) you ok.
Its a mind game. Stay mentally strong.
In all situations where the outcome is uncertain & you take action, you are gambling.
crossing the street: gambling with your life or getting to that store and buying what you want
talking to a stranger girl in order to seduce her: you might get her number or not... just a simple "hi" she might later be the mother of your child
ordering food from a restaurant: might get sick or have a succulent meal
trading eur/usd: might win or lose depending on many variables, use your head and a stop-loss
eating popcorn: might choke and die or enjoy a good movie
walking down the stares very fast: yes, 1 time I almost broke my back on some metal framed stairs, turned to the side on the last second.
buying a certain style of shoes: might be very comfortable although 2 summers ago a guy got run over cause his shoe untied while crossing fast
EVERY SINGLE SECOND in your life you GAMBLE, even by breathing you might inhale a mosquito. In our Universe, all outcomes are uncertain. Some are easier to control, other ones are harder... and lastly some are impossible to control but everything is a big roll of dice, since you were born.
I love that answer I was going to answer somewhat the same. Just to add though, yes all trading is gambling. If you can lose money, its gambling. Period. I have always called Trading/speculating S.W.A.G., Scientific Wild A$$ Guess. In Vegas, the edge always belongs to the house. In trading, if done right, you have the edge. However, its still gambling.
The majority of people tend to attribute a negative vibe to the word gambling. It's because of the casinos.
The reason is that most people end up losing there. Except some fabulous millionaire winners.
The reality is that gambling is all around us. By buying an used car, you're gambling. A brand new car, you're still gambling. By choosing wisely you have an edge, on your gambling
There are many good gambles in life!!!!! Try your luck if you have nothing or very little to lose!!
That's how I met my wife.
Be careful of bad gambles... I won't name them here.
if you still confused the difference between trading and gambling, you are struggling in trading. please dont trade first.
Don't hit on 17
Always use a stop loss
Everyone in this thread who has tried to say gambling is different because its based on luck, has yet to describe or show the difference between luck, chance, and a probabilistic outcome.
wont be gambling if we can win almost all the time i guess, gambling is 50-50, just my one cent
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