Forex Trading VS Gambling
Many people mistakenly think that Forex and Gambling are in some way alike. In fact you even get gambling sites requesting to advertise on Forex sites. However, the truth is that any comparison between the two is very superficial. There are in fact many differences between Forex trading (and any other kind of trading) and gambling.
Forex requires far more skill than sports betting, playing slot machines or betting on casino games. Furthermore, even though it takes years to become a true Forex expert, it is possible to make a consistent living out of it. Another important difference is that Forex isn’t addictive; those who fail at it tend to give up rather than bankrupt themselves. Also Forex is an investment. It is not a game, or done for ‘fun’, in the same way as gambling is.
Of course, gamblers will say that there is skill involved, especially in games such as poker. In fact, there are many people who make their living out of gambling, particularly poker and that with a professional attitude gambling ceases to be a game. Some will also argue that Forex is gambling as it is impossible to be 100% of how prices will change.
However, the truth is with proper analysis and understanding the risks from Forex trading are largely removed, this can never be the case with gambling. At the end of the day, the richest people in the world are traders, not gamblers.
What do you think? Share your opinion with us below.
Tags: forex gambling , gambling
Categories: Articles
Location: Blogs Expert's Corner
2 comment(s) so far...
Re: Forex Trading VS Gambling
I agree.... and in fact, if FOREX Trading is to be classified with Gambling, then one needs to do the same with any form of investment in any asset class.
By Clinton on 12/19/2012 10:24 AM
Re: Forex Trading VS Gambling
I totally agree that Forex is a serious calculated Risk type of investment deal. Gambling is just mere sport with a prize attached to it if you win. I am a Forex'er for life now. I really like trading Forex on Binary Options as well
By Jamil Brown on 12/19/2012 8:11 PM
It is myth that Forex is gambling. Most people have this mindset about Forex that may be the reason why they are abstaining to come into this field. It is a very scientific as well as an artistic job to make money through Forex. Thank you for writing down such an informative post.
ReplyDeleteBest Regards,
Ramiz Jilani
Forex Fund Management