Is Forex Trading Just Gambling?
First of all lets have a look at the definition of gambling;
- to play at any game of chance for money or other stakes.
- to stake or risk money, or anything of value, on the outcome of something involving chance: to gamble on a toss of the dice.
So in a word gambling is a game of complete chance, if you where to bet on the forex market with no knowledge or no available technical or fundamental data then that would be gambling. It would be like having a deck of cards showing a 7 then picking whether the next card is going to be high or lower to that 7.
On the other hand if you have the means to have technical and fundamental data at your finger tips and the knowledge to use that data then you would be taking out the chance element, hence it would not be gambling but speculating. The definition of speculating; 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.
It seems to me that forex trading is no more a gamble than buying stocks and shares and there are people that are very good at this trading activity and make huge amounts of money from it's speculative outcome. It is a matter of gaining the knowledge to be able to make educated decisions in which way you think the market is going to go.
There is plenty of information available on forex trading strategy on the internet in the beginning stages it is worth having a look and practicing with a demo account in a live market to see if your theories are profitable over a period of time.
- to play at any game of chance for money or other stakes.
- to stake or risk money, or anything of value, on the outcome of something involving chance: to gamble on a toss of the dice.
So in a word gambling is a game of complete chance, if you where to bet on the forex market with no knowledge or no available technical or fundamental data then that would be gambling. It would be like having a deck of cards showing a 7 then picking whether the next card is going to be high or lower to that 7.
On the other hand if you have the means to have technical and fundamental data at your finger tips and the knowledge to use that data then you would be taking out the chance element, hence it would not be gambling but speculating. The definition of speculating; 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.
It seems to me that forex trading is no more a gamble than buying stocks and shares and there are people that are very good at this trading activity and make huge amounts of money from it's speculative outcome. It is a matter of gaining the knowledge to be able to make educated decisions in which way you think the market is going to go.
There is plenty of information available on forex trading strategy on the internet in the beginning stages it is worth having a look and practicing with a demo account in a live market to see if your theories are profitable over a period of time.
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