Forex gambling?
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Thread: Forex gambling?

  1. #1
    Hello,

    I'm relatively new to Forex and got into it type of through the backdoor I work for an European company and got paid in European currency. In addition, I have stock/options from the business that has been sold in Europe. I needed to be cautious when I took the money over to the US so I did not loose on the exchange rate. After a while I thought: There should me money inside this somehow and ended up finding the Forex trade!

    I'm starting to get the picture: Trading Forex is not Get Rich Now if you don't have tons of luck, fortune which in that case could have been invested nearly too in a casino. I'm going for the little daily wins that adds up over time, just like I do with my wages evey month! Small losses, small wins, but more of the latter compared to the first have been my initial goal, and it is working out so much better. I might be too cautious, but hell, it is my money and I do not want to throw out it unless there is a reasonable chance it is going to bring about a bit more profit than investing it everywhere will.

    But I keep seeing people say trading Forex nothing but gaming in several places, even stered about that forum. If that is the case major banks are basically gaming with peoples money? Banks are as far as I know pulling huge profits from Forex trading each year. Why is it allegedly gaming for me but not for them? I guess they can exchange otherwise and with more funds than I do. But in the long run they need to have the ability to see into the future just like anyone else to turn a profit. They can't just be greater gamblers than I'm, can they?

  2. #2
    Trading (not Only FX) is kinda like Gaming BUT the odds are in your Favor (if you know what You're doing)

  3. #3
    I'd say people who call Forex gambling are the type of individuals that enter the market with large funds and without any knowledge.
    They open a commerce and hope that it goes into the direction the want. Those are the people who call it gambling.

  4. #4
    Quote Originally Posted by ;
    Hello,

    I'm comparatively new to Forex and got to it kind of through the backdoor: I work for an European firm and got paid in European currency. In addition, I have stock/options in the company that has been sold in Europe. I needed to be careful if I took the money over to the US so I did not loose over the exchange rate. After some time I thought: There must me money inside this somehow and ended up finding the Forex trade!

    I am beginning to get the image: Trading Forex is not Get Rich Now unless you have a lot of luck, fortune which then might have been spent almost as well in a casino. I'm going for the small daily wins that adds up over time, just like I do with my wages evey month! Small losses, small wins, but more of the latter compared to the first have been my initial goal, and it's working out so much better. I may be too careful, but heck, it's my money and I do not want to throw out it unless there is a fair chance it will bring about a bit more profit than investing it everywhere will.

    But I keep seeing people say trading Forex nothing but gaming in several areas, even stered around this forum. If that's the case major banks are basically gaming with peoples money? Banks are as far as I understand pulling huge profits from Forex trading every year. Why is it allegedly gaming for me but not for them? I guess they could exchange otherwise and with more resources than I do. However, in the long run they need to be able to see to the future just like anyone else to turn a profit. They can not only be better gamblers than I'm, can they?
    nope. . Ppl who say its gaming bet and then cry about it later. .

  5. #5
    You said something very importante here, banks make money in forex, now how can they do this ? I mean what exactly do the bank traders look at in the charts ...

  6. #6
    Well then technically isnt stocks, bonds or futures gambling also? If what you meant was that its risky than other markets, I personally dont believe so. Its about money management and plogy, even if you can do these well, risk may be removed to a certain degree, but of course theres always risk. But if you learn appropriate techniques, its not a blind gamble, not by any stretch of the imagination.

  7. #7
    Trading is worse than gaming. You'd make better use of your fortune in a casino. Where the dealer asks just how much you'd like to bet, and closes you out once you loose. In trading you're the dealer, and many do not realize that. That is why accounts may get blown out quicker than a game of poker. The trader never sticks out and watches as his capital depretiate, while he retains readjusting his SL.

  8. #8
    Quote Originally Posted by ;
    Hi,

    I'm comparatively new to Forex and got into it kind of through the backdoor : I work for an European company and got paid European currency. I also have stock/options in the company which has been marketed in Europe. I needed to be careful when I took the cash over to the US so that I didn't loose on the exchange rate. After a while I thought: There should me cash in this somehow and ended up finding the Forex trade!

    I am beginning to get the picture: Trading Forex isn't Get Rich Now unless you have tons of luck, fortune which then might have been invested almost too in a casino. I'm going for the little every day wins which adds up over time, just like I do with my wages evey month! Small losses, small wins, but more of the latter compared to the first have been my first goal, and it is working out so far. I might be too careful, but hell, it is my money and I don't wish to throw it out there unless there is a reasonable chance it will bring about a bit more profit than investing it everywhere would.

    But I keep seeing people state trading Forex nothing but gambling in many areas, even stered about that forum. If that's the situation major banks are basically gambling with individuals money? Banks are as far as I know pulling huge profits from Forex trading every year. Why is it supposedly gambling for me but not to them? I guess they can trade differently and with more resources than I do. But in the end they need to have the ability to see into the future just like anybody else to make a profit. They can't only be better gamblers than I'm, can they?
    The CFC's design their trading displays to promote you to gamble forex. They don't advertise it in their campaigns, but that's exactly what they want you to perform. It only makes sense! Everytime, you click on your mouse - they earn money! It's really that easy. Hmmm...I wonder if they care whether I make money or not? If you have a look at the trading screen below, it might easily resemble an internet gambling casino. Right now, the market is closed so everything is green. But, when the market is open and active everything is lit up with pretty flashing colors. Red, blue, yellow, green price changes ing about your screen. It very much looks more like a gambling casino, rather than a trading screen!

    Regrettably, a lot of men and women fall in the snare of forex gambling.

  9. #9
    Is forex betting? Well, what's gambling? Concepts are talked about by Dictionary definitions. One says game of chance. There sure is an element of chance in forex. The market is chaotic and overall does have large random elements. But there is an element to it. So perhaps it's not gambling. But BlackJack comes with an intelligent element for it and can be considered gaming....

    Another definition of betting is any matter or thing involving risk or poisonous uncertainty. By that definition, forex is unquestionably betting. It involves risks and uncertainties.

    Where does that leave us? Well, when you go to gamble at a casino, then your'e not the only person who's betting. The casino itself is doing the same thing; it's betting. Of course, the casino has set up its matches in such a way that the odds are on its side. Not by much by the way. The average return for the casino is all about 104% (from my recollection but of course this varies between different games). In the long term, the casino (even though it's betting) will wind up making 4 percent more money than it must pay out. And by doing so, it makes humongous profits....while still relying on chance.

    In forex, in case you've got a egy that provides you a risk/benefit of more than 100% (then spread is taken into account), your bet is similar to that of the casino. You're set to win in the long term.

    Of course banks trade forex as a portion of their portfolio. But that does not actually mean much. Eg, recently there was a significant scandal in Australia where a bunch of institutional traders (working for a bank) had lost big big big bucks (of the bank's money) on forex.

    Still, whenever someone tries to knock forex, I simply tell them and where do you put your money when you wan nana save? In a bank. And exactly what do you think the bank does with your money? It excels in financial tools. And among those is forex.

    L

  10. #10
    If you do not understand anything and simply exchange, that's gambling.

    Learnt well and that's your company.

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