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Is trading on the foreign exchange in fact gambling?
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TheS4OAdvantage
Are Traders Gamblers?
It's an accusation that would illicit much criticism and get me banned for trolling in a forex forum.
But there is a reason why there are more losers than winners in forex. Most of the time, the winners in forex don't depend on forex results entirely (they make money by teaching people how to trade, selling signals, etc).
Let's get things quite straight first. It's not an accusation. It's a fact. In some extent at any rate!
Many, many professions include some degree of gambling, some level of chance. Every day doctors throw a hundred guesses at patients, striking out the possibilities until they find out the one cause. Meteorological scientists around the world are on stand by each day, trying to pinpoint the location of the next earthquake or tsunami. Hey, even you may have won your degree by guessing a few of the questions on your final exam!
The point I'm really trying to make is that, forex traders do gamble, but the more successful ones make educated gambles, and take calculated chances. They likely have systems, and good systems, but all systems must be used with a great deal of consideration because there are, after all, many things to consider in trading.
And so, success lies, not just with good systems, but with a good sense of when to take a good gamble, when to notice a good chance, backed by intelligent knowledge of why you are making a trade.
Always be sure that if someone asks you why you are opening (or closing) a trade, you can give a good, logical answer.
I can say that almost everything in life is a "gamble". But the life gamble is a calculated "gamble", you "bet" when you see enough evidences that means a victory to you. In the life, the best player is with most sensibility, knowlegde and self control (and much more attributes that are specific on each area). The Forex "gamble" is much different from the cassino or cards gamble. That are my thoughts.
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