Is forex trading the same as gambling?

 

Is forex trading the same as gambling?

If your asking is it betting against a hard and fast system then no.


Is it gambling? 2fold answer.


No. Not if you are doing your penance and self educate for six months via reading and actual “paper trading” meaning watching a chart, and making an idea of In, out, risk vs reward, account P&L, 

indicators if you wish and therefore the economic calendar. So literally take a bit of paper, write down your entry, your stop loss, your risk-reward, all just mentioned and your TP takes profit and exit.


You need to try to do an honest deal of reading to know how this market works.


The main difference from other markets especially stocks is that you simply are always simultaneously LONG one currency and SHORT the opposite.


For instance, if you execute a Buy order for EUR/USD you're buying or long Euros and selling Short dollars.


buying or “being long” a stock is typically just checked out as is. you purchased the stock thus, you're long, your dollars are spent on the position.


Shorting a stock is far more complex and too long on behalf of me to elucidate shortly without using unrecognizable terminology.


My point being, if you're educated in both aspects of technical analysis and therefore the economic calendar or “News” then you're not gambling.


As with any market if you choose something randomly merely by a purely uneducated chance risk you're gambling.


There are poker players that make more informed decisions without card counting by playing the sport and reading people than the other of trading without a brain.

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