Trading like a Casino

It is gambling, there's no difference between the two, in my opinion.

I have seen by my experience , the greater part of the merchants we have especially fledglings level take Forex exchanging as like a gambling club , they exchange here with no examination and endeavor to procure cash in all respects quickly without learning , accordingly inside extremely brief time they become failure . in pragmatic this exchanging place isn't a club or betting something.

it can be both casino or real stock market, depends on you. if you take this trading place a gambling then within short time you can be loser or winner , chances 50/50. but most of the time gambler become loser at last.

Casino is like a gambling. Gambling is not good for stock or forex trading.

If you open trade positions purely randomly then it can be compared to roulette.

Trading is not a casino. Here it is possible to set stop loss and profit level. If you want to earn 2% per month, then trading is possible. If you work according to the plan, the chances of loss are less. If a trader works according to the rules, then one day he will get success from trading. But money management and risk management have to be maintained.

Trading is an art. If you can make trading perfectly you can become rich. Forex is the sea of money. You have to just make a plan to make money from this market.

The title of this thread seems to have confused almost all people who replied.

Do you believe casinos to be profitable businesses?
Do you think casinos know what they're doing?

Casinos, obviously are profitable. They have done thier risk modelling and have an 'edge' on every game they offer.

Would you like to own a casino?

Trading like a casino is exactly what you should be trying to achieve.

if you don't do your maths, the maths will do you.

Trading is not a casino. Profit is possible in trading with proper knowledge. If a trader trades it as a casino, he will never succeed in trading. People usually gamble in casinos. But trading is not a gamble. It is possible to trade with a 95% profit potential.

I dont consider gambling and trading the same.

If he is risking 2% on his 800, then he is Trading but, if he is risking 2% on that 4000, then he'll be Gambling

Yeah as the proverb says in gambling that at the end house wins. If anyone gambles in forex or stock market, he might get some random profits but at the end he will lose all the money.

Agreed!
Casino and trading are two different concepts. When you gamble in a casino, you can initiate your action and then you are at the mercy of the spinning wheel. Of course, expertise can help you a little bit but it is purely a game of chance, at the end of the day.
But, trading requires proper knowledge of the market. You have a fundamental approach where you look at historical data and news flows before trading. You also have technicals wherein you can use charts, trends and patterns for trading decisions.

When you are trading like a casino you would lose your money so to be profitable you must have your own trading starategy and plan.

Making money in casinos is a sort of gamble and there is no place for gambling in the forex market. Winning in the forex market completely depends upon knowledge and experience.

Trading is kind of like gambling, you don't know what will be the outcome on your next trade.

But, if you have an edge, you know that on a series of trades, you will be profitable.

Gambling works on luck while trading works on knowledge and in the longer run, knowledge wins.

It's about probabilities. Anyone who takes a trade is right 50% of the time. Finding an edge to get that probability up and improve your risk to reward is the ultimate objective

I actually don't agree with the statement that trading is a kind of casino. Trading doesn't cause and addiction mainly because traders understand that if they lose their money then something went wrong and they have made particular mistakes, while in casino people always try to bring their lost money back. This is the main difference between these two things. Moreover, we shouldn't forget that gambling is porihibited in many countries, while trading isn't. It's because in trading activity there are plenty of successful traders who can show how to make money actually, while gamblers are just a sot of scammers.

As stated before I think the thread is confused what was actually meant.
OP meant trading as the casino as the house.

How casinos make money
Many don't know the statistical edge a casino have and how they use it to their advantage.

If you ever heard about the game roulette you know that you can place money on either the red or the black, seems like a 50/50 bet right?
Well wrong that casino has the the green square as well that makes the game not 50/50 but about 47/53. That means whenever you place a bet on red or black you have 47% chance of winning, remember you are betting $1 to make $1, so if we do the math we can calculate the expectancy of the bet (the average you will win/lose on each bet you make)

If you make 100 bets you will lose about 53 of them and win about 47 (based on probability lets also say that you flat bet $1 every time.
(number of times won)47 * (money waged) 1 = 47
(number of times lost) 53 * (money waged) 1 = 53
(total win) $47 - $53 (total loss) = $-6 (net profit negative)
-$6/(total bets 100) = -0.06$ (expectancy)
As you can see the expectancy is -0.06 dollars that means for every dollar you risk you will lose 0.06 dollar. That is a mathematical fact, ever heard of the term "the house always wins" well thats the reason.

What does this have to do with anything in trading?
Well you can use the similar concept in trading but instead of having a negative expectancy as you had in the casino you can flip the statistics and probability in you favor to have a positive expectancy.

Lets say you have a tested strategy with a 60% win rate, and in this system you have set you stop loss and take profit so that if you would win you will win $1 and if you lose you lose $1 so you risk 1 to make 1 also called 1:1 risk reward

Now lets say you take a 100 trades based on probability you should win 60 times and lose about 40 times, remember when you win you won 1 dollar and if you lose you lose 1 dollar. Now lets do the math the same as we did with the casino.

(number of times won)60 * (money waged) 1 = 60
(number of times lost) 40 * (money waged) 1 = 40
(total win) $60 - $40 (total loss) = $20 (net profit positive)
$20/(total trades taken 100) = 0.2$ (expectancy)

As you can se now instead of the expectancy having a negative result it has a positive of 0.2 dollars, that means for every dollar you risk you should make 0.2* that back now you have the statistics and probability in you favor and you could say you are "trading like a casino" remember whenever you take a trade you have no idea if its gonna make money or not, but you know in the long run the expectancy and the statistics will play themselves out and you will make money.

Hopefully this cleared up some things.