Forex is not gamble

@iwrite (5042)
Singapore
September 9, 2012 12:23am CST
I am not sure what make people forex is the same as gambling. However it is really different, in gambling you just take chances which if you calculate, your chances of winning is less than 15% and that odds is really good for gambling. But I must admit that people take forex as a gambling tool. You should try to understand a little about forex passiveincomenetwork.net/forum/forex/understand-forex Forex on the other hand have a system, usually a success rate of 70% and if you have a good discipline and risk management. You should be able to make a decent earning.
4 people like this
20 responses
@hotsummer (10376)
• Philippines
9 Sep 12
But I think that the source of profit comes from those people who lose in forex. Is that true
2 people like this
@iwrite (5042)
• Singapore
9 Sep 12
Forex is a zero sum game, someone win others would lose. But the market is so big that you only need to be the 20% to make money. The problem with a lot people they think like the 80%. By the way the top 1% make 98% of the money in the forex market. The market consist of banks, institutions, brokers, private bankers and countries, companies. But you have to understand some of them are just hedging, so then do not mind losing but in case they lose too much the hedge would come to help them with their other business. to understand this point, you have to research a little about hedging.
@hotsummer (10376)
• Philippines
9 Sep 12
Are you saying that money in forex does not come from individual traders but the money comes from different kinds of business. So you don't depend in other traders to lose would you would win but the money comes from other sectors anyway. Sometimes I feel like I would be guilty if I would be getting other else's money if I would get or make profit in forex. So it feels like to earn in forex you would need other traders lose.
1 person likes this
@iwrite (5042)
• Singapore
9 Sep 12
Well, forex trader does lose money, but did you know a survey did in the 90s the most profitable group of traders are actually Japanese housewife. However that is not to say you will not win someone else money, you will. But the fact is whether you trade or not they are going to lose money anyway. The market has more 3 trillion dollars changing hands, your trade is unlikely to be felt anyway. In many instances, governments are the one trying to affect the market movement in order to boost the economy.
• Pakistan
9 Sep 12
You are right, But i hardly know any thing about forex. I tried to learn it but could't find any help full web site or some one who could teach me. If you are an expert plz give me some guide lines on how to learn forex trade and how to invest e.tc.
@iwrite (5042)
• Singapore
9 Sep 12
Ok I am not expert, and I am learning too, but I am interested because I found someone who showed me his account, in 6 months he turn an account from $1000 to $7000 plus. And that is live trading account. Everytime he has class he would open another account for each class, he has classes every month. His personal account gross about $USD 5000 each month. I do not mind learning with you but I cannot say I am good enough to teach you.
1 person likes this
@ARIES1973 (9535)
• Legaspi, Philippines
9 Sep 12
Hi iwrite! I want to learn about this thing also. I am really interested in this kind of activity however I find it hard to understand it. After my training which is about 10 days from now I will pm you if I am ready. Thank u.
2 people like this
@iwrite (5042)
• Singapore
9 Sep 12
Aries what kind of training are you doing right now? Forex training? I hope I would be able to help you with the simple terms.
@Strovek (870)
• Malaysia
9 Sep 12
Anything is a gamble if you go in without understanding how it works. In fact, there is a lot of opinion nowadays that the stock exchange is a casino. I guess it depends on who you talk to. To some it is a job which can make a decent living (as you have said).
@iwrite (5042)
• Singapore
9 Sep 12
I can agree with you when you say everything have it risk, but not everything is a gamble. To gamble you do not know what is the risk you are taking and still take it. Like there is a difference between bravery and courage, one is to act without fear. The later despite the fear as the outcome would be better or for the greater good.
@Strovek (870)
• Malaysia
10 Sep 12
Precisely, how many are in the stock market without first learning about it? That would be considered gambling by your definition. Also, I don't think it is act without fear but in spite of the fear.
• Indonesia
9 Sep 12
I think every investment program is not much different from gambling. Both allow us to lose some money. HYIP investment programs similar which is so busy lately might make most people lose a lot of money because many HYIP sites endsas scam, and even though it was common knowledge that a website may be scam one day, but still there are many people who dare invest their money into the site on the grounds that the site is still new, they will be racing against time before the site turn into scam Forex in my opinion more to knowledge. To plunge into the world of forex one must learn how forex works. Profit or loss in forex depends on how big your expertise in estimating up and down the price of a commodity. in foreign exchange we can examine up and down of the commodity price and to know how much we gain or loss, while the gambling we do not know how the system works. In the world of forex we can obtain transparency, while in the world of gambling / HYIP we do not know how our money being processed.
2 people like this
@iwrite (5042)
• Singapore
9 Sep 12
mrswhitfield it is funny you should mention HYIP, I think too make people confuse HYIP with forex. But they are two different things. Forex is a market where you can trade but HYIP is a product that you buy, that promise a certain returns. But they are two different things.
• Taiwan
9 Sep 12
I absolutely agree that Forex is NOT gambling!! Just like stock market, someone who don't no how it works always say that stock=gamble. NO!You can analyse many info to help you make decisions.
2 people like this
@iwrite (5042)
• Singapore
9 Sep 12
You are right, I guess something we listen to people who does not know about the system. Who hears from people who hears from others. While there is not 100% win in the forex, even if you have 70% but a good money management, you should be able to get a decent amount. By the way I am not an expert but I am learning from one.
1 person likes this
@narnia007 (1051)
• India
9 Sep 12
Since you cannot say for sure about the trade you make,I would say it is like a gamble.Even though you have studied every bit of Forex and you are pretty much patient and go on with the trade,even experienced users fail at some point because of the high volatility of the market.Any way,if there is 70% chances of wining and at the end of the day.if you can make more profits than loses,it will be useful.Otherwise,it is waste of money and time.
2 people like this
• Indonesia
9 Sep 12
actually I'm still confuse about forex definiton. some of my friend earn good from any kind of forex site and some of them lost a lot. they said that you won't earn before you lost some cash. I don't understand a lot, but I have curiousity and want to learn about forex. where is the right place to learn forex from the beginning, iwrite?
1 person likes this
@iwrite (5042)
• Singapore
11 Sep 12
You do not have to lose cash before you learn, that is a myth. Defination and practice might be very different. You might want to go baby pips to have a look. Either that we can learn together. I think there is still a lot for me to learn.
• Indonesia
11 Sep 12
but it seems very difficult to learn about forex. how do you started learn about forex, iwrite? how long you learn to understand it?
1 person likes this
@iwrite (5042)
• Singapore
11 Sep 12
Actually it is not difficult to understand, but to master is another issue all together. Current I have one people would like to form a learning group on forex. If you too like to be part of the group. I would introduce you to him too. We can learn together.
@dainy1313 (2354)
• Leon, Mexico
9 Sep 12
Hello iwrite thanks you so much for your advice. I fear to get into forex because I hadn´t studied about it and I fear to loose, of course. Today it´s sunday so tomorrow morning I´ll study something. I´ve heard so crepy stories about people loosing on trade markets that I prefer avoiding them. Blessings iwrite... dainy
1 person likes this
@iwrite (5042)
• Singapore
10 Sep 12
you do not have to have to fear, you just have to learn about it and you would have the knowledge to move forward. I think it would help if you are able to learn together with a group of like minded people.
1 person likes this
@dainy1313 (2354)
• Leon, Mexico
10 Sep 12
Could you send me a message with your suggestion? Thanks you! Blessings iwrite!
1 person likes this
@iwrite (5042)
• Singapore
11 Sep 12
I am using mobile phone to reply you now, so I am not able to give full detail. I will message some thoughts I have I have not form any detail yet.
• Portugal
9 Sep 12
but you need to invest a big amount on it. so what if you lose it all? should be fair if you could invest only like 10 dollars to try it out. thats why i think people say its a bit like gambling. bcs you can lose it all if you dont be careful.
1 person likes this
@iwrite (5042)
• Singapore
9 Sep 12
sweetloveforeve The thing about forex you are leverage, which can be a double edge sword, however in the hands of a discipline trader would be a great too. You can invest with just $1 however it is not advisable, you might not have the holding power and be kick out of the trade when the trade moves a pip against you. You can lose everything, because people gamble, in trading you do not trade more than 5% of your account. That is why people lose money. Beside I have already mention to you, I can help you in a way you do not have to come up with any of your own money to fund your account.
1 person likes this
• Portugal
17 Sep 12
but sooner or later i would have to invest my own money. and right now im not with a stable job neither anything. i need a job so i cant take the chance to lose the little money i have. i would love to risk if i was very rich but sadly im not :(
1 person likes this
@iwrite (5042)
• Singapore
17 Sep 12
Sweetloveforeve , People get rich by investing. That is the way to go anyway. I have mentioned, if you like I have a way you can trade without using your own money. However it seem people are not listening to what I have to say. DONT need to use your own mooney. The reason people remain poor is they don't not invest.
@vandana7 (62280)
• India
9 Sep 12
I came here to read your wisdom. :) But I cant tonight, will only study it on tuesday or wednesday..:)
1 person likes this
@iwrite (5042)
• Singapore
11 Sep 12
I suggests you do it at your own pace, it is not going to be easy. I wish you every success in you endeavour.
• India
9 Sep 12
thanks , i too had thought that Forex is a gamble but after reading your post i think it's different from gambling. now i can invest in it safely . thanks.
1 person likes this
@iwrite (5042)
• Singapore
11 Sep 12
While it might sound pretty simple, to have a plan and all. However the time and effort is not that easy, you need time, effort and practice in order to achieve success in forex trading. Then there are people like me, when I enjoyed some success but I got carried away. Now back to square one.
@succeednow (1636)
• Singapore
9 Sep 12
Hi iwrite, You're right to say that forex is not the same as gambling like in casinos provided one gets oneself educated and are willing to take the time and effort to learn the skills of forex trading. If one does not do that and just enter into forex trading without being well-prepared then I'm afraid one is gambling. The chance of one losing one's money is extremely high. In fact 90% of forex traders lose money while the other 10% makes all the money. However having said that it is very hard to be successful in forex trading because it is made up of 10% technical skills and 90% emotion. The technical skills part can be acquired but the emotional part is a bit more difficult to master. So if you want to be successful in forex trading be prepared to invest in educating yourself to acquire both technical and emotional skill. Getting a successful mentor who is willing to mentor you would be a great start. Have a nice day.
@iwrite (5042)
• Singapore
10 Sep 12
You are right, the key ingredients to be discipline, money management, risk management and do not let your emotion hamper with your trading.
• Philippines
9 Sep 12
When people don't know anything about a system and it yields or makes you lose money, they call it gambling. Well, you can't blame them as they don't know how it works. Anything is a gamble if you go into something without knowing what you are up to. But once the naysayers already understand the principles of forex, then only will they realize that it isn't gambling after all. Gambling depends on the surge of luck, while financial instruments such as forex or stocks have some basis. First, they must define the word gambling. It seems that they take something that has risk as already a sign of gambling. If that is so, even life is full of risks and living may be considered as gambling after all.
1 person likes this
@iwrite (5042)
• Singapore
10 Sep 12
Totally agreed, people who learns from people they know but does not know anything about investment and trading at all. In the end of all them gets confused.
@Visdude11 (212)
• Norway
9 Sep 12
Yeah, you are right. Forex is not gambling. I'm not using Forex, but I know a little about it. It's defenitely not gambling. Thank you for your post.
1 person likes this
@iwrite (5042)
• Singapore
10 Sep 12
At least there is someone sensible here.
@romzee (938)
• Philippines
9 Sep 12
Your right, forex is not gambling as well as stocks. I don't know much on forex but i am investing right now on stocks.
@iwrite (5042)
• Singapore
10 Sep 12
It is sensible to invest on another source of income, it is much better than waiting for for your current source of income folded before you start to panic. I think you should start to build your investment portfolio. Maybe you should look the forex trading too as the capital is small compare to the other forms of trading.
@elsino91 (443)
• Poland
9 Sep 12
I agree, forex isn't gambling. It may be risky for those who don't know what they are doing and there is always a little risk associated with it but that doesn't mean its gambling and it is nothing like the online casinos and betting sites. I have tried to study forex myself but found it really hard to grasp, so I decided to stay out of it, at least for now.
1 person likes this
@iwrite (5042)
• Singapore
9 Sep 12
That is wise, if you do not understand and still want to "invest" than it would be gamble. However if you want to invest in something with the least amount of capital, forex might your best choice. However you might need to really made an effort to learn more about it.
@andreas91 (140)
• Indonesia
14 Sep 12
Yes, I absolutely agree! Some people trade with a "win or die" system and it is the sole reason why many people go broke in forex trading. Risk management always comes first. One thing we should remember is that the market can go anywhere and often the system we use is better at predicting price rather than our emotion-based predicament. Anyway, good luck for your trade iwrite, happy pipping :)
@myfb2009 (8304)
• Malaysia
11 Sep 12
Iwrite, you are right that forex is not the same as gambling. But, for me, it is not easy to use our money to trade through forex for earning. I ever tried learning it before but until now, still don't really have confidence to earn through it. I prefer to earn some slow income through my trusted sites. At least, if i do make some mistakes, i don't lose my money in it. I heard from some of my friends who make a little mistake but lose a lot in forex.
@mistissa (1348)
• Netherlands
10 Sep 12
To be honest I am not really aware of the whole forex thing, but maybe that is why I sort of see it as gambling. Because the gamble is, you either make money or you lose it. And if you look at it like that then it is gambling. I think that if you have more knowledge about it, then you know about the percentages etc as you said in your post. And maybe in that case it is not looked at as gambling.
@Downwindz (2231)
• Netherlands
9 Sep 12
Hello iwrite I can only agree with you, Forex is not about gambling, but yet some pleople may see it like gambling as you have 50% change that the rate goes in your favour. I am myself a student of forex and currently testing out a system which I hope to implement on my real account later on if it shows its true potential in the Demo account.