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Resolved Question
Is forex a gamble? If yes, why?
Is forex like poker? Or the casinos?
Please give some points to justify forex as gambling...
If no, please explain why forex is not gambling...
Thank you for not biting my head off :) I couldn't resist asking the question here... 'coz it's a hot-hot-hot topic in the BabyPips.com forums. http://forums.babypips.com/newbie-island/35814-forex-gambling.html
about 1 year ago
Best Answer - Chosen by Voters
Forex can be a gamble if you let it become one! In gambling, you are simply playing the odds, and no matter how much you do it, the odds DO NOT change. Even in card games, there is a "cap" on how much you can tilt the odds in your favor.
In contrast, trading is a skill. With deliberate practice and learning, you can eventually get good at it. Each trade you take goes into your trading memory bank, which makes it easier for you next time to spot the same setup and trade it. The purpose of doing fundamental, technical and sentimental analysis is to tilt the odds slightly in your favor so that you may come up with a win.
about 1 year ago
Answers (1)
In contrast to gambling, where the events (draw of card, throw of dice) are random, forex trading involves thorough analysis where you can stack the odds in your favor.
about 1 year ago
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