Currency trading and gambling are two different activities. Bets are those where the rules are against the player and are unlikely to generate long-term profits. On the other hand, when it comes to currency trading, there are no rules that prevent the trader from making long-term profits. However, some traders may approach Forex as if it were a bet, which is not a good idea.
At first glance, currency trading and gambling may seem to have a lot in common. After all, both involve games of odds. But in reality, they are quite different. To understand this better, let's look at it from a practical point of view.
Here are some examples that will help you understand why Forex is not a bet. The answer to the question “is it the currency game” depends on the person asking it. If someone doesn't know anything about a profession but is thinking about how to make money from it, then it can be considered a game of chance. If you don't have any knowledge and you jump into a new set of rules for any type of business, then that's considered a game.
If you don't treat Forex professionally, then you're treating your trades as if they were betting. Even if you have a way of predicting the market and it seems to work for you most of the time, you're still acting with a touch of gaming in your currency trades. Unfortunately, there are many traders who claim to be currency traders, but in reality they are operating as players. To be successful in Forex trading, you need to have knowledge and experience.
You should also be aware of the current trading session depending on your local time zone. As an owner manager of foreign exchange trading funds, I have seen many people who do not respect their own resolve to adopt a proper stop loss.So is currency trading really another form of gambling? Well, for the uneducated person or for the inexperienced currency trader, it may seem like that. But if you take the time to learn about Forex and develop your skills, then you can make informed decisions and increase your chances of success.
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