Is Forex trading considered a gambling game?

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Is Forex trading considered a gambling game?

Because we want to make a lot of money and be able to buy what we want? While this is a valid reason by all accounts, it will most likely drive us into completely excessive greed and eventually lead to our Forex trading accounts being destroyed. We can also take our money to a financial gamble from that.

Traders’ greed is the worst driving force behind Forex trading. The Forex market will always punish us for our greed and reward us for our moderation. Where it exists between Forex trading and gambling.

When there is real money at stake in trading, there is a constant perception that those who risk Forex trading opportunities may be useless.

If we want to be consistently profitable traders, we must not think like gamblers, do not risk useless trading opportunities and do not rely only on luck when trading. We must remember that luck can come and go, just as it is in a game of gambling.

The trader must be well aware that anything in the Forex market can happen, until he accepts this as a fact, the Forex market will not always become profitable.

This idea may seem very silly, so how can we as traders, become consistently profitable from a Forex market with uncertain trading results? But this is not possible.

This is very wrong with Forex trading as there are so-called trading possibilities.

We all know that casinos make big profits, but despite the fact that there are businesses where the result of each card drawn or a roll of the dice is special.

Those in charge of it understand very well the concept of game possibilities and they create games that put special possibilities in their favor.

 

While it is good that there will be trading opportunities for some lucky individuals who will win and earn dollars, we know in the Forex market that if traders get a big enough deal size, there will be more losing trading sponsors than winning traders in the end.

To take odds, a common system of trading, trading can be fairly simple. Where the data is analyzed on a particular currency, and all he has to do is to trade on it.

Since we have equal access to both the market and the trading, it looks like we have a 50% chance of winning and winning. But in reality, this is not the case in the Forex market.

By adjusting some of the rules, such as the commission from the Forex broker or reducing the returns if the trader wins a certain amount, the odds of the trades will shift slightly in the trader’s favor.

This may be a small advantage, but it is enough for the trader to come last and be on top when enough trades have been won.

We have to remember that what distinguishes the Forex trading market from gambling is its ability to bend the odds of trades in its favor.

 

What is the ratio of loss and profit in Forex trading over gambling?

For this reason, if we are Forex traders, our mentality should be similar to that of the casino and not that of a gambler, which focuses only on a specific event each time they trade.

In order for a trader to become consistently profitable in his trades, he has to trade and play the advantage of probabilities over a large series of outcomes. But how can he do this?

 

Here are some tips for becoming a casino owner

First, traders must learn the behaviors, patterns, and trends of the Forex market that they can learn about later and turn them into real trading opportunities.

This can happen from doing a special review of the market price movement against a practical framework on support and resistance, adding mechanical Forex indicators, economic events, etc.

Then they have to record their constant observations, and then elicit some statistics in order to keep track of the different types of Forex trades, trading styles, or particular Forex trading setups.

There is also a place where keeping diaries of their trade becomes essential. By using their trade data from their journal, they can focus on the particular Forex setups that have a high probability of winning, rather than the setups that tend to lose their trades.

They will also need to do solid Forex risk management. They can tilt the odds of trading success over a long trading range more in their favor if it is just to create a trade or enter into Forex trades with a high percentage of attractive Forex risk management meaning high average profit from trading losses that occur.

As the better the risk-return ratio of trading, the less they need as traders to win trading positions.

 

If we notice that traders are good at spotting and trading important double top formations, then they can devise Forex trading systems that focus on finding Forex setups based on a double top Forex chart pattern.

If they are able to take a large number of Forex traders, and the winning number is greater than the losing number, they will end up with a financial profit over a long trading period.

A trader can search for another trader in addition to his own analysis process. The sites are full of a lot of free content to do your own economic and technical analysis of Forex.

By getting another opinion, he will make sure that he does not fall into this trap of bias and assertion.

Of course, this is not the only thing to tilt the trading odds in favor of the trader, but he must constantly remember that he does not have to predict precisely the direction of the Forex market; He just has to know an important place that the Forex price is likely to go to and make a great benefit from it if it happens and the trading goes in the right way.

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