Is Forex Trading a Gamble? That’s what everyone thinks at first but it really isn’t. Forex Trading will become gambling when there is no fundamental or technical reason supporting a trading decision. Let me explain…
- To bet on an uncertain outcome, as of a contest.
- To play a game of chance for stakes.
- To take a risk in the hope of gaining an advantage or a benefit.
- to engage in any business transaction involving considerable risk or the chance of large gains, esp. to buy and sell commodities, stocks, etc., in the expectation of a quick or very large profit.
Gambling can mean alot of things. Going to work for someone else is gambling. How do you know it will be there tomorrow? Trading Forex realy depends on your competence and intention. If you don’t know what your doing and want to make quick and easy money that is gambling. If you are very competent and want to make money in the forex market, that is speculating. Speculating in the forex market and holding on to your losing position, that is investing.
To sum it up, forex trading is a profitable real business for those who have the patience to learn the nitty-gritty of it. If you dont have that patience, then stay with your day job or w/e you do with your life.
Tags: forex trading
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Any trading of this type is nothing more than a gamble. There has been absolutely no system proven to generate a profit over the long term more than buying a diverse set of stocks and holding it indefinitely. This includes ALL mutual funds, and anyone you hire to manage your portfolios. “Speculation” generally comes with plenty of taxes and transaction fees as well, which nullify the long term profits of any “system”. I suggest a book called “A Random Walk Down Wallstreet” as a good guide to exactly why forex and other open market trading is literally nothing more than a gamble, and provides all the numbers to back it up.
So anyway, enjoy your time “speculating”. I’ll be holding onto my index funds, getting a higher return than you over the longterm, and using the free time I have to do actual profitable work to add to it =P
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Thanks Nick. Great point. I stay with my forex trading though, it’s what I know best. It is what it is bro
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thanks! fot the info
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