Altcoins Talks - Cryptocurrency Forum
Further Discussions => Trading (Not crypto) => Topic started by: Mr. Allcrypto on February 24, 2024, 04:55:09 PM
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Forex trading in our society has gone viral because it is a crypto trading platform, many people go into trading because of seeing how others earn and make money from it.
The question is why do people loss their money in forex trading?
Most people argue that there is no difference between forex trading and Casino gambling.
What are the Major differences between forex trading and casino gambling?
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I mean, obviously because they made the wrong trades? What kind of trading are you referring to here? Leveraged trading or something else? Most of the time people consider options to be the same as gambling, but leverage trading is quite debatable. Gambling is highly dependent on luck, the same cannot be said about forex trading (unless you're specifically referring to a scam broker etc). I also think people knew forex trading way earlier before crypto was popular, how you conclude the opposite is quite interesting. Besides, even if forex is similar to crypto, what is the guarantee that everyone will make profits? Even if you limit yourself to crypto, you can still lose money.
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Forex trading in our society has gone viral because it is a crypto trading platform, many people go into trading because of seeing how others earn and make money from it.
The question is why do people loss their money in forex trading?
Most people argue that there is no difference between forex trading and Casino gambling.
What are the Major differences between forex trading and casino gambling?
Forex as the name implies foreign exchange involves the buying and selling of currency pairs like EUR/USD AUD/USD etc... Forex isn't gambling before placing a trade , taking profits and stop losses u must know about FUD/fear, uncertainty and death taking risk isn't easy. U must know about technical analysis and fundamental analysis and observing charts.
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From what I understand it is the most difficult type of trading, but it is in the general line of trading. No matter how much it is promoted, no matter how much you see influencers advertising it, covertly or not, (charging them and generating profits for the houses) in trading there is a very high probability that you will lose your money. If you add leverage it is even higher, and the higher the frequency, the higher it gets.
So if you think you are going to get rich with little capital, doing a lot of trades a day from home, you are wrong.
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Forex trading in our society has gone viral because it is a crypto trading platform, many people go into trading because of seeing how others earn and make money from it.
The question is why do people loss their money in forex trading?
Most people argue that there is no difference between forex trading and Casino gambling.
What are the Major differences between forex trading and casino gambling?
Basically forex trading is very different from crypto currency trading. I have basically no idea about forex trading so I could not comment on forex trading for now.
There are many possible reasons for losing in Forex trading, the most common reason being inexperience in trading. Many people go to trading without any prior knowledge about forex trading and only face losses due to inexperience.
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It might be a lot of reasons. People may not be prepared before they get into the market. Also, they don't have a risk management plan which I believe is equally important to the trading strategy. Some people need to change the way they approach this thing.
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Forex trading in our society has gone viral because it is a crypto trading platform, many people go into trading because of seeing how others earn and make money from it.
The question is why do people loss their money in forex trading?
Most people argue that there is no difference between forex trading and Casino gambling.
What are the Major differences between forex trading and casino gambling?
- Forex trading, because if we look at it, has similarities with crypto trading; the only difference is that real money is traded in forex, and while in crypto it is digital currencies called cryptocurrency 24/7, you can do trading, while in forex it is on weekends, there is no trading activity. Which is actually very far from gambling.
Gambling should not be compared to trading because trading is not a game where you only bet and guess without knowing anything about reading a chart or graph. Your status will be that of a gambler if you do that and think that you are a trader.
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The market is really fructuated and consistently shaped. Once you feel like getting the feel of the market and your strategy has been proven several times suddenly you just get a new slap on the face.
And some people just can't deal with their minds. They can't exist in the position they initially planned to since they lack discipline and preparation mentally.