Gamble or Trade? | Forex Factory

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Gamble or Trade?

  • #1
  • First Post: Dec 23, 2008 4:37pm Dec 23, 2008 4:37pm
Hi,
In Forex trading, there is involvement of forecasts of the future.
If it is unsure that trade would be profitable, then its gamble.
But, if its not gamble, then whats the surity of profit?
Thanks in advance...
  • #2
  • Dec 23, 2008 4:40pm Dec 23, 2008 4:40pm
Quoting technoware
Hi,
In Forex trading, there is involvement of forecasts of the future.
If it is unsure that trade would be profitable, then its gamble.
But, if its not gamble, then whats the surity of profit?
Thanks in advance...
im not very good at forex, but i know it's possible. i play fake poker online and started with 2k and am up to 3.5 million. so you can make money gambling. just have to be patience and wait for the right hand and fold on most hands, and manage your bets, not going all in. you don't have to 'win' every hand, just when you lose only lose 5$, and when you win, go for 20$.
  • #3
  • Dec 23, 2008 10:44pm Dec 23, 2008 10:44pm
Quoting Clouds
im not very good at forex, but i know it's possible. i play fake poker online and started with 2k and am up to 3.5 million. so you can make money gambling. just have to be patience and wait for the right hand and fold on most hands, and manage your bets, not going all in. you don't have to 'win' every hand, just when you lose only lose 5$, and when you win, go for 20$.
could not have said it better myself.
  • #4
  • Dec 23, 2008 10:58pm Dec 23, 2008 10:58pm
If I can make more money than I loose in any endevour, then I dont care what its called.
Living the adventure in my head.
  • #5
  • Dec 24, 2008 2:04pm Dec 24, 2008 2:04pm
Quoting Clouds
im not very good at forex, but i know it's possible. i play fake poker online and started with 2k and am up to 3.5 million. so you can make money gambling. just have to be patience and wait for the right hand and fold on most hands, and manage your bets, not going all in. you don't have to 'win' every hand, just when you lose only lose 5$, and when you win, go for 20$.
...when doing business, greed and gluttony is a mans greatest foe!!!
  • #6
  • Dec 24, 2008 2:11pm Dec 24, 2008 2:11pm
The line between gambling and speculation may be thin, but it is there.
nav++
  • #7
  • Dec 25, 2008 12:23am Dec 25, 2008 12:23am
Quoting technoware
Hi,
In Forex trading, there is involvement of forecasts of the future.
If it is unsure that trade would be profitable, then its gamble.
But, if its not gamble, then whats the surity of profit?
Thanks in advance...
There are gambles and there are gambles...

A simple gamble is when you open a random trade. In such a case your chances are theoreticly 50:50, but because of the spread there's a small offset against you (much like a casino roulette when you bet on red or black but there's also 0 which is niether). If you use an r:r that's different than 1:1 the chances change accordingly, but overall - the r:r and win to loss together should still end up the same as before, though with extreme r:r it might take quite a while before statistics "kick in" (which is where some people get the rediculous idea of using no sl, I bet most of those blew their accounts in the past few months).

The other type of gamble is when the trade is not random - when you entered the market based on your extensive experience of watching and trading it. Your experience, as relates not only to the entry point but also to the r:r or type of tracking of sl and tp as well as mm and so on all the rest of it, can provide you with an edge over the market so statistics turn in your favour. Thus longer term - more trades turn up more profit.

As there are no rules set in stone in trading, it's still always a gamble and thus not precise science but rather an art.
On the path to Enrichment.
  • #8
  • Last Post: Dec 25, 2008 8:22pm Dec 25, 2008 8:22pm
Quoting technoware
Hi,
In Forex trading, there is involvement of forecasts of the future.
If it is unsure that trade would be profitable, then its gamble.
But, if its not gamble, then whats the surity of profit?
Thanks in advance...
In my honest opinion, it is down to the trader him/herself whether they are trading/investing or gambling. Because as a trader/investor one will have a tried and tested system which has a good money management strategy of obtaining a profit.

However, as a gambler you will have little or no system to follow. At the time of executing a trading position, it will be simply; 'click and hope'. The probability of obtaining a profit is very low.

Think of yourself as either the Casino or the Gambler. Casinos are clever statisticians; which is why they rake in so much money.
"The trend is your friend, until the end."
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