Difference between a forex trader and a gambler

[Mia Chloe]

Until now, many in the community in this field are still not careful when entering an industry like forex, or gambling. And if there are those who do things rashly without thinking carefully, it is probably the people who have a rich quick mindset.
That's what always happens when the issue is like this, then the risk in forex is still too high until now, honestly. The same is true with gambling, nothing has changed.

Gambling and trading can never be the same but the thing is one major similarity between the both of them is that you are risking some money either way. Still one thing that differentiates the both of them the most is that trading is dependent on luck compared to gambling which is more luck dependent. Trading requires a lot of experience to pull off a decent profit however gambling on the other requires huge luck to hit a jackpot.

Though you can be lucky a couple of times in trading to pull off a good profit , it seldom happens unlike in gambling.

[_act_]

There is a clear difference between a Forex or crypto trader to that of a gambler, gambling at first is not business or trading, its a way of having fun, when we are gambling, we get entertained and uses the fund we have to gamble to either win or lose the bet, trading is something entirely different from it, when we trade, we acquire a particular skills needed for trading and make it our investment to do, it does not have much risk as we do in gambling, we cant also completely lose our money on trades except for some high level trading that deal with future trades.

[Agbe]

In my opinion a lot of traders today can be classified as gamblers this is because they they do not follow a certain path that I believe leads to succes yes yes I know we all have to take risk in other to make it big in the market but that is still no reaso. Why a trader will risk it all with huge lots size and not even put up stop loss this is basically just being Reckless
For me the most important thing in a trade is stop loss especially when you are trading a very volatile pair like XAUUSD  which could change direction in any time especially when a news is incoming
And after using multiple huge lots sizes and blowing the account they say forex is a scam or begging to compare It to gambling
Well this is just my opinion

There is a huge difference between a forex trader and a gambler because the forex market is one that can be studied and understand over time even though it will take time in the forex market there are actually risks prevention mechanism that one can apply and be safe while your trade is going on infact any one you saw losing on the forex market is basically one someone who is just coming into the forex market and who has not yet understand how the forex market flows and secondly is the person who despite understanding how the market flows decides to take the risk against the market prediction and flow so you can't compare these to gambling that depends on events that are highly uncertain for you to get a win

[Mia Chloe]

There is a huge difference between a forex trader and a gambler because the forex market is one that can be studied and understand over time even though it will take time in the forex market there are actually risks prevention mechanism that one can apply and be safe.

Trading Is basically risking and I've actually come to understand as a trader that before you place any trade, you should have it partly in mind that there is always a possibility of you losing that money and as a result you should be ready to do so if not you have a high chance of trading with emotions instead.
Trading has its ups and downs and one of those downs is that you can never be 100% sure of a trade there's always a probability that the trade may go sideways however that probability becomes thinner the more professional and accurate your analysis is.

[rachael9385]

To be honest I don't see any difference in gambling and forex trading they are both partners in crime birds of a feather.
In forex trading you stake money it's not free and it is a 50, 50 something cause you may loss or make profit, the same with gambling you stake your money you may loss or gain profit but in either ways both are gambling no excuses nothing to tell me about forex not being a gamble it 100% is.

I even prefer going to casinos to stake a bet than trading forex if you say there are experts in forex who don't often loss the same thing to gambling so no excuses.