You might actually consider trading bonds instead. You’ll need 10k to get started but it’s a great way to trade for income. One of the best things is you can leverage with investment Investing time in forex trading is totally worth the time. Forex trading is profitable only if you know how to trade. No doubt it has a great profit potential but at the same time it is very risky Business, Economics, and Finance. GameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. Crypto With trading anything, with 'normal' risk, unless you have a large bankroll your not gonna make 'big bucks'. I would not be worried about if you can get in to a firm or not, I would ask if you are Welcome to blogger.com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! We also ... read more
You invest in the stock market hoping to make more than in a Bank or Building Society knowing that you are taking on greater risk. Investing in a share one takes into account the fundamentals of the company, how well it is run etc.. Gambling is like E G throwing a dice or a game of roulette, where you have no control at all. If we did not have Banks and private people investing in companies, our civilisation would not be so far advanced. Alex, this post is about trading, not investing.
Those are two very different things, especially when referring to fiat currency. hie Justin , what Alex is simply trying to tell you is : gambling is done on the basis of probability whilst forex trading is done on the basis of facts [technical and fundamental analysis. Is there anyway around this? I have one important question regarding Forex Trading. Elias, the point of this post is that you need to trade like the casinos by stacking the odds in your favor.
Trading is not gambling, it is possible to make money in the market, only those who know the market how it is moving. the market always not work in the same way some time you have to away from market.
i know that, I done that, I made money. It seems you missed the point of the post, which is to trade like a casino by stacking the odds in your favor. I agree with you Justin. This is a great post. Easy to understand even for the layman. Thank you. The similarity to gambling is that the outcome of one individaul trade is unknown and ramdom.
You can try to increase proabilities with more confluencies, but it is still ramdom. Serious traders make money via a series of trades with proper Risk Reward. Absolutely true article. There is no way to guarantee your trade will be a profit. if some body open a restaurant.
and he expect people to come to him. is he gambling,if he is. it is means every thing in our life is gambling. forex needs skills so its akind of a jop. If you define gamble as taking on risk in the hope of a desired result, then yes, opening a new restaurant is a gamble. Most life endeavors are gambles if you stop and think about it. Yes, absolutely! It is a big gamble in running any business. I am a business owner myself and I have made a huge lost before in running a restaurant.
There are situation that you have either no control or little control or lost control. Trading means a supply and demand cycle. You get the supply so if there is a demand you sell your supply. If you have business, e. selling fruits etc. of course he is not sure if all will be sold, perhaps some will be rotten and that is his loss.
is that gambling? Very true. I think some folks get the literal definition of gamble confused with the idea of gambling. the analogy confuse me. how come selling is gambling? of course if i have 5 apples, i already know i will get profit for 5 apples, if i am succeeded selling it. but definitely not if i only sell, say less than 3 apples. the lost and profit is countable. and selling is not about probability. and some people even going to far to make raising your own child consider as gambling?
yes I still think forex trading is gambling, I tried it before though I did not understand much of what I was taught and loosing a lot of money made me realize I was just like a punter in a different platform of betting. can I make a career out of Forex trading? I do not want to work a white collar job all my life. Forex reminds me of establishing privately controlled central bank by making public fool or hypocrite.
Its Gentle form of Gambling. I know many muslims including me gambled in forex without knowing that its gamble. Its more unethical than gamble because its based on hypocrisy.
I think only hypocrite or illiterate will call it trading rather than gamble. So Justin, you are not in anyway discouraging anyone from looking at this forex trading as a stable income generating venture to embark upon….
As for your definition, life choices in themselves, are gambles. They are accompanied with the possibility of positive or negative consequences. That said, I am just beginning out on trading,. are the prospect good? Yes it is. Because simply not anyone can tell what tomorrow will bring, eventually trading is a game of GUESSING with some kind of probabilities along.
I think Justin hit it on da spot. In simple, gamble means to bet with in a game or play with intention of predicting da unknown outcome. Da same is what people do with forex irrespective of technicalities and whatsoever analysis used. Thanx justin u just hit it on da spot and I bliv diz will aid also those who do not wan2 involve themselves in gamble. Forex is completely gambling as like you are doing it in Casino, but Casino is better than forex because Casino is based on your luck but forex is man made machine which want you to loose only….
hungry of SL and opposite trend to your order! If you consider Forex as gambling meaning all business and investment are gambling. We can understand all the other business but Forex is a machine where someone control the trend!!! Some one is driving like a car. I want to believe whatever you have control over is not gambling. Therefore, I am of the opinion that casino owners, except casino players, are not gamblers. Otherwise casinos will be shutting down often. Mastering the Forex trading is like having control over the trade which can effectively mitigate against losses.
And oh, there are risks everywhere and in everything we do. If you drive a car, there are risks. If you are a learner in driving a car, you will definitely crash the car before you get anywhere, cos you have no control — this is likened to newbies in fx trading. On the other hand, when you stake your moneys into playing games involving cards and dice for which you have no control of the outcome then that is gambling. Just my own candid opinion, and my perspective. Shark can eat us anytime and anywhere, I tested everything it is not base on supply and demands, but It is like a physiological gambling.
Anyway there must be a way i can understand this but again it is base on your luck. Yes it is a little gamble as I think…most of the things we do in life which we are unsure of their outcomes are merely gambling.. I started trading forex less than 3 months learning from a 3 years in experience friend, yes he wasnt ok finacially but myself always think what to put money on so I reach out to him, it wasnt comfortable but I had to endure to learn I made more money from my business so I funded his broker account, open a new trading account for my self funded that too change his gadget to give a perfect chance of a good trading opportunity even get more trading gadget he never had.
His imagination is big just as mine so I belived every process, I realised we make a lot of profit but we end up in loss in the same position. I didnt realised it was a big problem but I thought what made us see so much profit if I can invest larger sum we can start making enough to take our profit early so I orchestrated a friend and he agreed to invest a larger sum the when open a well reliable broker in my name and funded the account to start the trading.
he mastered and know the trend direction so well because he had dedicated so much time to trading, but he always believe hes right and expect the profit to continue. He enters multiple position because he wants to recover loss on the same trade that he thought had retraced to continue his predicted direction. We should just make it black or white same thing wont work for all it depends on how you learn your lesson.
Tomorrow is a mythical land that we journey into nobody knows what it holds we can only assure a good outcome by making best of today, so make the best of your odds. Instead to feel like I learnt nothing and all my sacrife to gain is wasted. I learnt from his mistake and yes I will gamble with a very good odd. Idrees I like your wisdom which is true payment for experiences wether positive or negative. regards Hayden. I love your post but even with your amazing insight, you and others will not accept logic and common sense and I say this with the greatest of respect.
You do not get to see the dealers hand because there are millions of dealers plus the economies tug of war for say GBP USD in this example. Traders think that studying the post graph movement will help them but I ask why as that movement is an average or accumulative effect of the unknown. The infinitesimal variations of all the associated underline reasons become useless by the time they create the post mono graph movement.
Traders are fascinated and deluded enough to apply strategies training mentoring signals and skill to the post graph and pay good money to be able to do so which in turn creates other unfortunate byproducts in the forex scenario. You are quite correct, forex is gambling which is fine but there are two salient points which are as follows.
One Traders are not leaving their money in long enough to give fluctuation a chance of success and setting stop losses when your only loosing is plain stupid because would you invest £ in whatever and stop when your loosing £, of course not.
Two Traders do not have any insight into what all the underline factors in future accumulation will do to the graph because they do not know ever what those underline factors are and how they ever will come together on going.
Thanks for this opportunity to state logic and common sense, though not as dynamic as the fascinating claims out there, never the less, are the truth. Hayden Harris. Official Air Jordans Shoes For Sales,Cheap Jordans Online,cheap jordans for sale,cheap jordans-Original Cheap Jordans Online Store,Supply Men Jordans,Women Jordans For Sale.
Guest put it out right. Everything in life is a gamble. Choose your fight gamble from all available options and either make it work or it will work you.
Everything is about odds! Hi everyone. Forex could also be seen as Black Jack, which also requires skills, training and experience…. Forex is built on a system of trade, influenced by supply and demand, etc and therefore requires skills and training to be successful.
However, if you have gone for driving lessons and passed, etc. Now does driving involve an element of risk or loss? Just ask any licenced or experienced driver who has been in an accident. Is that driver a gambler? As in the case of the unlicensed or inexperienced driver.
If I may further add to my previous comment, does this mean people who go to the casino and who are experienced and skilled are then not gamblers? Yes of cause they are gamblers. In order to access whether Forex is gambling or not, one has to look at the foundations or fundamentals of the whole system of Forex and compare that to how a casino operates.
I did not gamble when I set up a successful business as I followed all the steps such as research, business plan, strategies, educations and even the finances etc. Exactly the same steps I followed when I started a successful Forex trading career. From your post, that means buying a property with the aim of selling later is gambling. Setting up a business with risk of making losses is gambling. Very interesting topic… I thought about something about how we use our emotions to drive our decisions.
So to speak am a christian but i have a conviction that someone who has never gone to heaven can convince me how good heaven is basing on what is laid down in books. I believe that everything we do in life is based on things we have heard and probably seen. Basing on this i conclude that if you belive in something you always struggle to see it happen just like we struggle to reach heaven..
If one of us believe they can study Forex and be successful you can make it here nullfying that its not gambling. How is this likened to gambling where you trow dice and expect rewarded when you get a six. for retails it is majority of brokers are market makers or stp a polite name of market maker very very few are ECN who does not care about your profit nor loses, in fact the big guys liquidity providers are also having market maker scheme to hedge each other.
so to come with your little money or investment in forex, it is total waste of time, and you can learn all the fancy subjects and strategy and you will eventually lose it and blame it into whatever excuse available is there. if there is a way to make money in forex, there will be two or three brokers in the world to handle it, but we know human psychology and stupidity will make us the broker richer and richer by having clients loses in our pocket.
A great forum here. with experience knowledge and good calculation you can be trading with profits guarantee. Justin has opened a great discussion a meeting point for experienced and novices. Thank you Justin for explaining opening my eyes, I loved your post. I wanna come back to trade for a living now and I need your blunt advice — should I do it or I should just leave it for good and learn to love agriculture? Since forex trading is gambling why then does the government allow it.
First am taking a risk so that I can get profit by the end of the day. I will bake cakes but am not sure if the stock will consumed until there is no more cakes. Another thing I have to go and sell the cake so by the end I could have win profits Also I risk not getting profit from my cakes that I have if there are not all bought.
In this form of business is it gambling also because all the three definition you have stated fit in very well. FX trading is like a casino with the odds on our side. FX trading will eventually bring us to abundance if we are in tune with the market. Price Action helps us tune in.
I have an art company and I took a lot of risks and loose a lot of money before I start making money. Trading is not different from it. If one has learnt forex trading carefully, he does not doubt profit because by mere setting his eyes on the chart,he can easily see that here profit is a sure case because the chart itself shows that before he even launches a trade.
Trading is modern word for Gambling.. The desire to earn money overnight by capturing market trends is very smart discovery. But it kills mental peace.. Rather we should work toward investing in Good company with good intention to gain wealth when company performs.. Yes you are right ,Forex trading is the ultimate form of gambling. Forex trading is extremely volatile, and this brings a large number of profit opportunities for neophytes. However, these profit opportunities bring along chances of losses too.
If you are thinking of starting or learning forex trading, keep in mind that even seasoned investors can lose money. Forex also known for Foreign exchange which is the largest financial markets globally. There are millions of people who have benefited through trading Forex. your article is very useful for everybody.
Youy are quite right. And whats even more scary is that all business is gambling seeing as you have to risk a certain amount investment to make more.
and the reality is that even if you have done everything right, you can still lose your investment. At the end of the day, when trading i have to pick whether it goes up or down. And i can be wrong even if the analysis is correct.
everything in life is gambling. But even poker players can count cards. Your view is wrong. If you consider your view, all businesses are a form of gambling. Forex is a highly specialized profession in which the largest banks and institutions operate. Is Forex Trading Gambling? Losses are as much a part of trading as a win, in fact when you start out you will most likely have more losses than wins.
Being able to deal with them and bouncing back from them is one the most sought after traits when it comes to being a trader. When you go into trading, you need to have an understanding that there will be a lot of losses, small ones, large ones, whichever ones they are, they will be there.
So those are some of the truths about trading and forex, there are of course other things that you hear which may not quite be the truth, you will always hear the exaggerated truths from people who enjoy trading or want to get their hands on your money. We hope that we have opened up your eyes a little bit, trading can be incredibly life-changing and rewarding but do not get ahead of yourself and do not take things for granted.
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What could possibly be the value of advice from an online forum like Reddit? The specific Forex subreddit , not only features success stories but horror stories of forex traders "blowing" their accounts in a myriad of ways. It's like being privy to an extensive trial and error process most traders experience , without actually putting your own investment on the line. regulated - so sales comments or marketing materials are usually deleted.
So, most. ForexLive seems to be Reddit's favorite source of Forex related info. Some other commenters mentioned Twitter as a great source for concise real-time information - a piece of advice we gave in our article about looking beyond technical analysis. There are many a cautionary tale on the Forex trading subreddit, one that seems to consistently show up is the new trader that decimates their account by overleveraging.
If you are unfamiliar with the term it's when a trader uses an ill-advised amount of leverage to open a position. Why ill-advised? Because a very small adverse movement, would close out the trade - or even multiple trades due to margin stop out. This overlaps with the advice above, overleveraging increases your exposure, also known as risk. Managing this variable when trading, according to most institutional, retail and reddit traders - is key to protecting your investment.
Another interesting point made by the Forex redditors is - in the above vain, stop-loss defines position size, not vice versa. This is frequent reversal made by new traders which focus on their position size and potential gains, instead of their maximum risk.
Impulsiveness when trading is very dangerous. Having a trading strategy and sticking to it is an extremely effective method to manage risk - the inverse on the other hand is an extremely effective method to lose all of your investment.
If you proactively try to recover your losses immediately after losing, then you are going to be in a world of pain - or at least your account is. It is very important to detach emotions from trading. Greed, fear, anger and pride which seem like biblical cardinal sins are in fact emotions that can influence and cause traders to make uninformed decisions. Of all of the advice on the internet, keeping a trade journal is something that is surprisingly under represented.
With all the variables involved having a baseline that you can revert to is extremely valuable. The military looks at past campaigns for strategy, athletes look at play backs of their past games to avoid their previous mistakes, become more efficient and ultimately better at what they do.
What makes you think traders couldn't benefit from that? Forex trading is all about timing. Markets are their most volatile during opening and overlapping times, after policy changes and announcements. Sometimes you need some time for volatility to normalize and see what trends are emerging, other times volatility is beneficial. But most new traders are eager to trade and trade on impulse, which is never a good idea. Or in trading lingo, stick to your trading strategy.
A side-note here - you are not married to one strategy and no one strategy is gospel. Those that adapt, survive once said an old British chap named Darwin. The same holds true for traders on the market. Although there are many different ways to approach trading, and as many different trading theories as there are stars in the sky, one thing that is a given is; knowledge is king. Sometimes that knowledge comes directly from the source - traders like you on Reddit.
Select additional content:. Education Sponsored. GMT LON NY TKYO SYD Your email. First name. Last name. Trading offers from relevant providers. SIGN UP. Must Read Save The Date - Finance Magnates London Summit VIDEO: Seeing is believing. How do you take yourself from a gambler to a trader. Russell technical analysis. Bears just got faked out. Copper is the simplest investment thesis anywhere Russell technical analysis In 30 seconds.
13/4/ · What is the truth? The truth is that even the “big boys” at the large banks and hedge funds gamble every time they sit down at their trading computer. But (and it’s a BIG but) there’s an inherent difference between how they gamble and how % of retail Forex traders gamble. It’s a little thing called “probabilities” 9/11/ · However, the truth is that forex trading is a viable and reputable way to generate income, while the above statistic also suggests that 30% of FX traders are able to operate profitably within the space. In this article, we’ll take a closer and objective look at forex trading, while asking whether it’s a viable career option for you in With trading anything, with 'normal' risk, unless you have a large bankroll your not gonna make 'big bucks'. I would not be worried about if you can get in to a firm or not, I would ask if you are 21/9/ · Below are 7 truths about trading “FOREX” you need to know: How can a person invest $ and expect to earn $ per month? That’s % ROI monthly. Below are 7 truths about trading “FOREX” you need to Facebook Twitter LinkedIn Tumblr Pinterest Reddit VKontakte Odnoklassniki Pocket Share via Email Print. Elitestaff. With Investing time in forex trading is totally worth the time. Forex trading is profitable only if you know how to trade. No doubt it has a great profit potential but at the same time it is very risky 9/8/ · You can try Get The Truth About Trading For A Living. during % RISK-FREE. If after the squeeze we have been not confident with the calm of this product or whatsoever reasons, we can emanate the Without-Questions-Asked-Refund inside of 60 days of your purchase. There is no RISK in perplexing out Get The Truth About Trading For A Living ... read more
I assure you that there is not any system or method that will get you rich overnight quickly with forex. Flash - February 17, 0. Send this to a friend. Choosing the right broker when trading is vital, it needs to be one that you can trust, and that has a decent reputation. regulated - so sales comments or marketing materials are usually deleted.The real secret behind sustainable and wildly successful trading. Not trading based on emotions, trade purely based on facts, truth about forex trading reddit, get news updates constantly, follow mentors, research, back test. No matter what anyone tells you, you cannot predict the way that the markets will move or react to different news events. your article is very useful for everybody. You do not get to see the dealers hand because there are millions of dealers plus the economies tug of war for say GBP USD in this example. EDITOR PICKS.