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Forex gambling?

  • #41
  • Oct 10, 2006 9:58am Oct 10, 2006 9:58am
Quoting fx54xHRB
I will try explain it :


If you have acc. with $10,000 and your broker offers 100:1 leverage:
a)You will take trades with 5 lots and s/l 50 pips.... 2 wrong trades and you are out...you can not do next trades with 5 lots(gambling)
b)trades with 0.5 lot and s/l 50 pips...you can do many wrong trades and you arent out( investing)

so it must be much less than 100:1 ....

1:100 or more = Gambling
Less then 1:100 = Not Gambling
I dont get it
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  • #42
  • Oct 10, 2006 10:01am Oct 10, 2006 10:01am
I beleive I have more information about my trades today than I did about my little trip to the kitchen. Therefore by my definition the trip to the kitchen was more of a gamble than the trades, but probably with less chance of a detrimental monitary outcome. My point is you have to trust in yourself and take a chance or two in life. Be sure to keep good Karma on the way.

I really like the pointing out of the word "brokers' it's a lot like "mortgage" that has it's roots in latin meaning " Death Grip". Like most stuff in this forum it is great food for thought.
Thanks.
  • #43
  • Oct 10, 2006 10:05am Oct 10, 2006 10:05am
Again, I have to ask, what is wrong with gambling? I do quite well with the local poker night in my neighborhood. I cannot imagine investing without the element of gambling... I would have to say I embrace the gambling concept.
  • #44
  • Oct 10, 2006 10:07am Oct 10, 2006 10:07am
Quoting jami dodgers
In leiu of anything better to contribute, we British spell leu as loo, which is actually an abriviation of lavatory, which comes from the French, laver, to wash. OK, I'll get my coat!
Ok but How did Ya'll come up with an abriviation of lavatory that has 2 o's when the root word only has one. Never mind it's slang all rules are out. Need more coffie, wish me luck.
  • #45
  • Oct 10, 2006 10:10am Oct 10, 2006 10:10am
Quoting smjones
Again, I have to ask, what is wrong with gambling?
Absolutely nothing. But too many people think there is something wrong with it. That's why all the good folks here in this thread are in denial

*evul laff*
"The market will rally from this or lower levels"
  • #46
  • Oct 10, 2006 10:11am Oct 10, 2006 10:11am
Quoting smjones
Again, I have to ask, what is wrong with gambling? I do quite well with the local poker night in my neighborhood. I cannot imagine investing without the element of gambling... I would have to say I embrace the gambling concept.
Gambling concept is the one we should highlight here. Thank you smjones... Then just maybe we are all or atleast most of us would be in the same page.
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  • #47
  • Oct 10, 2006 10:12am Oct 10, 2006 10:12am
Mr./Ms Jones

Are you "betting" on a retractment on the GBP/USD this fine morning. I.m in at 8553 looking for 8575 or so.
  • #48
  • Oct 10, 2006 10:16am Oct 10, 2006 10:16am
well if gambling is bad bussines casinos would be broke by now, the problem is that most of you people don´t have an "edge" a metod that gives you a higher number of wining trades, therefore in the end you lose, no matter how many fancy indicators you follow.
Argue with your wife, not with the market, it´ll always win
  • #49
  • Oct 10, 2006 10:17am Oct 10, 2006 10:17am
I am either a 55 year old man, or the ugliest young women you have ever seen. and Yes I think we will have a bounce. But, I do not trade what I think might happen. So I am waiting for something I recognize. Besides, I did quite well on the ride down.LOL, Scott



Quoting bapxyz
Mr./Ms Jones

Are you "betting" on a retractment on the GBP/USD this fine morning. I.m in at 8553 looking for 8575 or so.
  • #50
  • Oct 10, 2006 10:29am Oct 10, 2006 10:29am
I was just looking at a daily chart of cable and there is a very well formed H&S and We broke the neck line today. this pattern would project price to go to about 1.8305. So who knows?



Quoting bapxyz
Mr./Ms Jones

Are you "betting" on a retractment on the GBP/USD this fine morning. I.m in at 8553 looking for 8575 or so.
  • #51
  • Oct 10, 2006 10:30am Oct 10, 2006 10:30am
Quoting smjones
I am either a 55 year old man, or the ugliest young women you have ever seen. and Yes I think we will have a bounce. But, I do not trade what I think might happen. So I am waiting for something I recognize. Besides, I did quite well on the ride down.LOL, Scott
Yes sir. I use bollinger, rsi, quater points and support. All where telling me to get in. I may be wrong been wrong before. Have a stop at 8523.

PS. You could also be an uglly 55 year old man.
  • #52
  • Oct 10, 2006 10:33am Oct 10, 2006 10:33am
Could be. I think I am God's gift, but I am bias. Scott



Quoting bapxyz
Yes sir. I use bollinger, rsi, quater points and support. All where telling me to get in. I may be wrong been wrong before. Have a stop at 8523.

PS. You could also be an uglly 55 year old man.
  • #53
  • Oct 10, 2006 5:31pm Oct 10, 2006 5:31pm
Quoting LightKeeper
Professional gambling (and there ARE successful professional gamblers out there) also requires knowledge (particularly of statistics!), good psychology and LOADS of discipline. Sorry, amigo but you have failed to differentiate
If you're equating anything with risk as gambling, then there is only one type of person who does not gamble at all, A DEAD PERSON. Choosing a career, eating, breathing and even living itself are all gambles....if you really want to get technical.
Binary Options Trader
  • #54
  • Oct 11, 2006 9:52am Oct 11, 2006 9:52am
Quoting Yoda_Glenn
If you're equating anything with risk as gambling, then there is only one type of person who does not gamble at all, A DEAD PERSON. Choosing a career, eating, breathing and even living itself are all gambles....if you really want to get technical.
As soon as you're born a bet could be made on how long you would live. That would be gambling. The fact that's it impossible to predict all the factors that could make a lifespan shorter or longer adds an element of gambling to just being alive. We have to accept the odds though and try to beat them as best we can!

I feel that for something to be considered gambling you need the predictability instruments to reach a certain low. For instance, casino games are gambling because there are almost no way of predicting the outcome. However to determine how the weather is going to be is not since we now have instruments that with a certain level of accuracy are able to predict the weather for the day. However, if we go 150 years back it would probably be gambling to bet on the weather being a certain way since the instruments for predicting it was much fewer and less accurate. That brings us to Forex: How accurate, and how many instruments do we have to predict which way the market will move? I would say we have enough to take Forex trading out of the gambling zone. There's things you can do in Forex to minimize your chances of loss like money management, taking signals, trade with the trend etc. that makes the likelyhood of loosing less. There's not such things available for you in a casinso unless you cheat by counting cards etc.

I'm just trying to put the whole thing in persective. It's up to the each and everyone to determine if the "element of gambling" in Forex is high enough to consider the whole business a gamble.
//C
  • #55
  • Oct 22, 2006 3:55am Oct 22, 2006 3:55am
Quoting Bemac
I'm not a banker...but imo...

Because you don't have the Other side of the Ledger to balance {hedge} it. If you were {as well as trading FX} accepting Deposits from and Lending to other people with a Spread in the Interest You Paid or Charged, it would be Simple to claim that you make Huge Gains Trading Currencies.

Lend a Client $500,000.00 @ 9%
Buy $500,000.00 on FX to cover the Loan.
If the $ Falls, you Still have your 9% diff as a cusion.
If it Rises, you win both ways.

Take a Clients $500,000.00 Deposit and Pay him 4%
Sell $500,000.00 on FX because you have to have a portion of your Deposits on hand Working.

Thes examples are obviously very basic, and to say the least, a pitance to the real numbers involved but I hope you now have a little clearer picture.

(Deposits On Hand - Loans Outstanding) - Gov Guarantee % = Margin Acct...

This equation, of course would be way more complex to include assets/liabilities {gold etc..} held by the Bank
Thanks for posting this...very interesting!
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #56
  • Oct 24, 2013 11:54am Oct 24, 2013 11:54am
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  • #57
  • Oct 24, 2013 12:22pm Oct 24, 2013 12:22pm
Quoting CTGUY
{quote} Thanks for posting this...very interesting!
I agree its interesting and if you look back, you'll see that most of the scandals associated with fx started out this way, with the interest differential being the "cushion" until of course the greed set in..
  • #58
  • Sep 7, 2014 5:07am Sep 7, 2014 5:07am
Forex isnot gambling but if you trade poorly you will loose money like you are gambling . REAL TALK . BELIEVE THAT
  • #59
  • Mar 6, 2015 1:21am Mar 6, 2015 1:21am
Forex is risky, but not gambling. With enough knowledge and suitable trading strategy, forex will not be something beyond control, like gambling.
  • #60
  • Mar 6, 2015 1:47am Mar 6, 2015 1:47am
Trading without a plan, jumping in with live trading without the experience on demo account, greed and emotions - if you trade like that, Forex is gambling.
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