Joshua Brown, vice president of investments in a renowned New York asset-management firm once said that the forex from his perspective is too risk fraught for an individual investor to engage in preferring to label forex trading as gambling with retail investors in ignorance throwing money into traders who rely more on luck than ability. But this rather sounds amusing to me because if really forex was just about luck and chance; could it boast such renowned universal liquidity? If forex was about luck, how many betting sites or companies daily boast a daily turnover amounting to trillions of dollars? Very impossibly, that forex entails a level of uncertainty doesn’t in any way discredit its credibility. Forex is way off cheap gambling. I humbly disagree with this high authority when it comes to the commodity market, he is very wrong in this forex is no gambling, it is very far from a business of chance. The reasons there are very obvious, what do you think about this, do you agree with him or me on this case
gambling is when you play is uncertain, there are a lot of system that might be right for you, trader are saying trend is your friend, therefore, go with the trend, any time frame has trend, go along with it.
I have not reasons to disagree with you on this as I totally agree with you. The simple truth is that a business of luck like gambling can not have consistency- for you can not really sustain your success in such a profession; how many persons do you know who make a sweet sustainable means of living through gambling? But you see a forex trader who has been making a nice living from forex for over a decade and is not yet ready to quit.
Yes, it is popularly said that the trend is your friend in the forex. In fact a lot of indicators are now been paraded to help traders trade the trends.But one thing traders don’t get straight is that the trend is actually not a strategy independently, you could rather say the trend is an improved point of “confluence” that adds to the probability of a trade. Many traders don’t recognize the practical influence of this hence they carelessly jump on tre
yes. now i can say when you do not have enough knowledge you don't have plan. you trade in this market as gamble.
Gambling or business ----you make a choice! For me it's a business with all it's advatages and i learn how to improve myself and my trading through the lessons i get in the markets, through my own mistakes.
i don't think so .we can control more with forex market. each time you trade you need analysis and put order in plan. we can solve and control our risky. gamble we can control our risky when we put money
sometimes you can tell that. because when we trade with market without control . we will trade as a gamble or badly than gamble. because gamble can be get better chance when they bet. when you trade without control you will be lose money and hopeless lucky.
Taking risk is the basic part of every business. Forex Trading is a business where risk is too high.
So if any Gambler comes in forex trading , start gambling and loss money in a continuous manner and at last reach a conclusion that forex is gambling what can you do?
Will forex trading become gambling because of that gambler shared his bitter experience and it was bitter than real gambling he could have and it was bitter because it was not gambling.
Have not we observed how price behaves near support and resistances and that is related with fundamentals like supply and demands.So if anyone can make profit understanding short term or long term support & demand and makes money from it how can it will be gambling?
Of course level of uncertainty is high in this business . In a strategy you makes profit one time may loss next time as there is nothing obvious here. But better trader may save them from applying the same strategy in a same type of setup understanding difference in context. So making profit here is related with experience and skill and proper risk management.
i think so. when we open order we can't sure about profit. it mean we can lose or win. it's as gamble. we can win or lose with it. but in forex market we can control the lose, and control our order . we can choose exit or not. in gamble you don't have choice
I thought forex is gambling too,but then after 10 years of experience, i finally found my trading tool and it is good for me. There are many things to understand about forex, but i am sure now, that forex trading can be profitable!