Is forex trading similar to gambling?

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Is forex trading similar to gambling?

The common question which pops up in every trader’s mind is that whether Forex is gambling. It is true that the Forex market includes the certain percentage of gambling but this extremely calculative. Even if you are a professional trader and an intermediate trader you cannot decide what the Dollar will do the next minute. There are many methods for you to become the expert in the market and also, in order to study the market. But still, if the experts in the market say that they know the secret behind the Forex market, we tell you not to believe it. If they have found the secret by now, they could have been millionaires. If they knew how to eliminate all the risk and to trade the market they would have been the richest person on earth. You can make yourself the best in trading Forex by understanding and learn the Forex market from dawn to dust but still, the reality it involves inevitable risk.

The reality of trading forex

The foreign exchange market is available for traders every 5 days for 24 hours. By the broker service, it is easy to perform your own trade at any time. The Forex trading can be like casino game which involves huge risks or else it can be like other investments. Actually, trading Forex cannot be a random matter, meaning traders have the ability to control the trades; they enter into trades by understanding the trades completely. It is not like betting, which proves from the way trades plan and organizes before they trade.

The reality of gambling

When you see the facts about gambling, its totally depends on the desire to gain returns from investments more than the effort they exert for the investments.  When you compare it to the Forex trading, the traders analyze the trading strategies, trading weaknesses before they enter into a trade. The Forex traders gain profits due to their skills not because of the luck. In gambling, things happen in a different way such as loss is always inevitable, but true, in Forex also loss is inevitable but all the loses are managed loss. Just because Forex and gambling have inevitable risks it cannot be categorized under gambling.

Gambling is addiction but is trading

Everyone in the world knows that gambling is the total addiction and also it is harmful. As traders, you should be able to make up your mind for profits and losses equally. Working in the Forex market is risky and it also a business, you should be able to run your business even if you face losses or profits. You should have the neutral mindset to deal both losses and profits, unlike gamblers who get addicted to profits easily.

Summary: when people get the common question in their mind as for whether their trading or gambling the best answer we could provide is “yes and no”. If you do not control your addiction and if you do not set up your mind as a trader then it’s obvious that you’re gambling. The gambler will not gamble with the neutral mindset instead he or she will gamble by carving to earn more and more. In fact, more than what he or she invests but trading is not that traders should know the return for his or her investments. You should trade like a pro, not like a gambler.