Forex Trading or Gambling

Holy Obvious, Batman!!! Thanks for that. What are you selling?

The OP might just be trying to help.

Gambling? Of course... in that no trader knows the outcome of any single trade that is placed. The best you can do, through a series of backtests and mathematical modeling, is establish whether or not your system has positive expactancy. With regards to daytrading forex as a retail customer, I have not found any such system to exist. I will leave my response right there, as I have found that further explaintion can evoke emotional and downright nasty resposes.

Kindest Regards,

I've dealt with this a few times, so I'll be quick and won't debate it any further:

To gamble means to place a wager on an uncertain outcome. Trading is gambling, regardless of whether or not we have positive expectation. I invite you to look up the word in the dictionary.

I agree with everything you say and especially that you can not can not call a pilot a gambler. If you say that then almost everything we do is a gamble.

Gamble is a word with negative connotations. To say someone is a gambler suggests he may have an addiction. Not such a bad thing if he knows how to win which, in Forex, is possible. But if he sits there like a pudding pulling slots, or messing with Forex and consistently losing then he's going to cause unhappiness.

I think there are a number of people who post in these threads who are compulsive gamblers and should try to cure the habit.

smikester, I believe what was met by the word "gambling" is, I shall put it this way, the part and the scope of luck during trading, how strongly can one rely on logic and real analysis...

Yes, gambling seems to be something different to various kinds of people. Personally, I hear "gambling" and my mind is taken to Las Vegas' Casinos right away. So that's gambling for me. And trading sure as hell isn't like playing roulette (for me ).

Very interesting. The original post is gone, mine was second and it now shows that I was the thread originator.

Of course it's gambling. Every aspect of it is gambling even the analysis we attempt to control trades with can only stack odds and probablilities in our favour. Like the casino though, the best odds are on taking small, consistent profits rather than going for the huge payoffs. Consistency. It is possible to make a probable (note probable) consistent profit at Roulette on a wheel that is working perfectly with no biases. The key word is "possible" and "probable".

Using fancy euphemisms like 'speculator' and 'trader' as if it really is something different. I'm proud to be a forex gambler, and proud to be making a consistent profit out of it. The Forex doesn't give a shit what I call myself - it'll kill me as soon as I lose respect for it - it does not care however if I do or not.

GO FORTH AND GAMBLE WISELY - WITH YOUR HEAD HELD HIGH!

I don't recall exactly what the OP said about Forex and Gambling. It doesn't matter except that somehow he was gambling with his words and someone called his bluff...POOF game over.

Semantics arguements are so tedious.Where I live the legal definer on gambling is chance. If there is skill involved its not gambling (it may be difficult or stupid but not gambling).

SO, if I open a position and don't have an edge, I'm counting on luck.

Phil

Trading forex is gambling.
Trading stocks and futures is gambling.

Just because the outcome is not certain, it's gambling. Nothing in this world is certain. it's probablity.

So gambling is just negative probability..you'll lose in the long run

trading can have positive probability..that is if you got the skills, edge, mindset, etc etc.

Gambling doesn't require a negative probability.
I can bet you even money on a coin toss. That isn't a negative probability, but it's gambling.

it depends on how you approach forex or any liquid market that you trade.
it's ur actions that separates gambling from trading.
If you act then you you think of the outcome ( impulsive trades?! ) , then u r gambling.
If you follow a plan , think , decide on your risk parameters , then you are trading the markets , or to be more precise your are speculating ( the right word to be used ).

traders ( speculators ) should know that the Fx market exisits for commercial interest , it's not there or were founded to amuse them or to follow their MA systems.
large corporates use it worldwide to provide liquidity to investors , traders ( car dealers , raw materials imp /exp , hedgers among them to protect their profits and banks to invest in currencies and buy bonds and such from governments ) .

this is what I believe to be moving the markets, and again it's our approach to the market and how we read it that decide who we are , Gamblers or speculators.

Regards

Define gamble?

First rule of thumb, state what definition you are referring to, otherwise the debate is futile. I know the OP's post has disappeared, but I bet "gambling" was not adequately defined (quite common around here). You must define the terms in the context in which they are used. Otherwise it's a big fat (F)ail on the argument.

If it's "playing games of chance for money stake" (Oxford dictionary). No, trading is not gambling to most. Trading is a business, most people treat it as such (sure there are gambling traders by this definition). Most pro traders are not gamblers. They are conducting a business, not "playing games".

If it's the "risky undertaking" definition (Oxford dictionary). Then yes, it is gambling. By that definition, so is walking across the street, running a business, swimming in the ocean, driving a car, flying a plane or just life in itself is a "risky undertaking".

Miriam- Webster

To bet on an uncertain outcome - Unless you hit 100%, with each trade you risk money on an uncertain outcome.

Definition 2, also applies- To stake something on a contingency.


Trading forex is gambling.

lol

I could also go "cherry picking" definitions to support the argument for and against.

Bottom line is that according to some definitions it is, and others it's not.

Go with whatever helps you sleep at night.

so it appears that trading forex contains the element of gambling =) though people do realise that nomatter how much do they count on luck, as much depends on one's personal skills and expectations, morover much depends on the broker or a dealing centre which one deals with (let alone the market or correlated markets itself)...

blah blah blah

ROFL