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Do not gamble in Forex!

Some black jack players, are highly skilled at counting cards, and because of this can win consistently. Of course, counting cards in casinos is considered by most to be "cheating". However, it is just as an example of how a gambler might use an underlying strategy to approach gambling as a job.

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Similarly, a professional forex trader does not just trade for the fun of it. He or she considers trading forex as an actual job, with a well developed forex analysis, trading strategy and plan. He or she uses this plan consistently, in order to have consistent success at trading forex.

How about many other professionals when their profits depend on combination of correct strategies and random factors? Take professional athletes, NHL or NBA players. Don't they gamble? Perhaps not… Their careers depend mostly on the professional skills although on some random factors as well.

But the stock exchange brokers and other types of investors may gamble….or not…

Forex traders, stock exchange brokers place the trade hoping and praying for profits based on the movement of the market which they have absolutely no control over. It is not an NBA game where you can focus and score.

The forex traders put the "odds" on a certain currency pair and if they right in their predictions they win.

Doesn't it remind you gambling?

The answer is “yes and no”. Addiction and random bets is the forex gambling that we try to avoid.

Therefore, it is not important whether forex is gambling, but how you consider forex psychologically. Game or trade? Gambling or business. Getting rich fast scheme or profession ? This reveals whether the forex trading is for you.

An important difference between the professional forex trading and forex gambling is that you just must always choose the amount you are willing to loose. There is always a chance to bail out of a trade manually or with a stop loss to prevent gambling. Define your feasible loss and stay with this. Do not change this number and stick your forex strategy. Experiment and learn, but do not exceed your loss number. Do not gamble ! Trade!

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