Topic: Is Forex same thing as betting - page 2. (Read 362 times)

Op you have already said the different from the bolded part of the thread. Even as that I will still tell the differences. They are not the same and they are not even related. And the only similarity is the risk involved in the two and that is all. Forex trading is related to stock market which is concerned on the buying and selling of Currencies and that is the process that making some countries economy to be weakened in this contemporary world.

Betting is for gambling and gambling is for games so to what extent do you even compare the two different concepts. You don't buy money in gambling but you buy money in the forex trading so how do dey related? Op they are not so don't bother yourself.

It is funny to even consider forex and betting as a thing or couple because, betting involves putting your money where your mouth is for live events, while forex is merely putting your money where you think it can double up.

Although from my analogy, money is involved in both instance, betting or gambling is a game of luck and predictions while forex exchange require one to understand the market or foreign exchange inorder to be successful therein.

I saw this same post on twitter  asking about the very question there was a reply which says "can you compare zobo and fruit juice " this is just a simple quote that answered your question

Both Gambling and Trading are two different things. I don't know how you found the two related. Gambling na simply the ability to take sides without thoroughly evaluating the the desired results but through emotions, instincts. In another word, Gambling na hin be the betting and staking of some amount of money over something valuable in the hope of making profit at the game of contest.

While, Trading is simply the buying and selling of goods and services for the purpose of making sales and profit. In trading, you're offering a service for a certain amount of money with the expectations of getting results or better still wooing the customer or clients into patronizing you.

Like gambling, Trading also have to do with more than one person and risk taking, unlike gambling, Trading is when you have something to exchange as a good or service with the other person, either as a merchant or as a buyer. In gambling, you don't have a merchandise but in trading that's the most basic essence of going into the trade, with the aim of selling out your merchandise.

It is at the bases of the aforementioned one will conclude that trading with forex is not gambling but a business of selling merchandise. When you understand how the market flows, you will certainly work towards the success of your trade.

It's not, there are professional traders who have made life through Forex. Forex is not gambling and it is not a get rich quick scheme. Acquiring the knowledge is a necessity and you shall flourish. There are people who at some stage doesn't encounter losses due to them using good risk management and risk to reward ratio.
I don't understand why people affiliate Forex with gambling, this thing have history and authors with books that will boost your Forex skill. It's something you will learn before you earn but some will just jump into it with out proper knowledge then generalized it as gambling when they encounter losses.

Undergo thorough training either self learning, YouTube or through mentorship. I advise you go through mentorship because it makes the journey easier since they are experienced already.

If I am playing dice, roulette, blackjack, baccarat and other casino games, they do not consume time, or the time it is consuming is fun. If you are a scalper, trading will consume time. If you are a trading addict, it will consume your time just like gambling. Some traders will make analysis and still continuously checking the market to know if they have gained or not. Trading is not also easy but it depends on the type of trader that you are. Swing traders will not stress themselves.

This is my first time posting on the Nigeria local board. Hope I am welcomed.

I read your post and I wanted to correct a few things in your statement. First we all agree that Forex and betting are two different things one is trading and the other is gambling. But they both share one thing in common which is risk you will take in both cases, whether it's trading or betting. Nothing and nobody can guarantee you a 100% profit no matter how skilled or experienced you are in both fields one day you will lose or even in your first try. These two things are always unpredictable and if someone said the opposite he is lying or doesn’t know what he is talking about.

Gambling can't be predicted at all compared to trading as you mentioned and that's also incorrect. In Forex trading people use strategies and follow instructions to help them a bit in predicting the next price move and only a little. Every trader has a technique but, it's important to note that even the best traders in the world experience months or even years of overall loss, and to have an income from trading logic says that you need big amount of money and not only falling victim to course sellers, brokers, and scammers who target new traders with little knowledge.

Gambling can never be the same with forex trading as in gambling your chances of winning is 50/50 as you may win or you may lose but in trading if you apply the right knowledge and techniques, the possibility of making profit can be guaranteed.

And again gambling consumes lots of time to predict the outcome of an event main while trading doesn't gives much stress like that if you actually know what you're doing

Gambling:
Gamblers are losing to gambling site owners and share holders
Gambling has some strategies but no much special skills needed before you can start gambling
Gambling is basically about luck

Trading:
Traders are losing to traders while the broker or the exchange make money from the trading fee
Trading require technical and fundamental indicators and strategies and much more skills are needed
Trading make someone to have possibility of winning than gambling
Trading is not about luck for pro traders

But both are risky
Some people are using trading to gamble and all about them is to gamble with it like throwing a coin to show between up or down
As their is gambling addiction, also there is trading addiction
Discipline is required in both

Over some years now, I have been trying to figure out the difference between Forex and betting, and with my analysis, evaluation etc, I found out two difference which is,  exchange of currency in Forex while in betting there is no exchange of currency and also forex market has closing time and time it opens but betting doesn't( everyday).
However, Forex is same thing as betting. Betting can turn someone to millionaire, billionaire etc likewise forex. You analyse in forex likewise in betting.

Please give me some difference if you have.