Difference between forex and gambling

Difference between forex and gambling

Author: leonid An Date of post: 16.07.2017

Trading vs Gambling

Join the NASDAQ Community today and get free, instant access to portfolios, stock ratings, real-time alerts, and more! Is there a difference between forex trading and gambling?

I have been asked this question on more than one occasion and it is a good one as it can make the difference between failing and having a chance to succeed.

Compare a professional gambler who plays the odds with a casual gambler who hopes to make money if he gets lucky and measure the results. Of course, there is a gray area in between these two extremes where many retail traders reside. Whatever path you choose to take, you will see a difference if you treat trading as a business and not gambling. If you were running a business you would deduct expenses from sales to see if you are making a profit.

You would also calculate profit per sale and measure that against your overhead. Treat trading as a business and keep a log of your trades. Calculate your average profit per winning trade, average loss per losing trade and percentage winners vs.

If this does not produce a profit or a profit not worth the risk you are taking, then reassess your approach and set goals. With limited capital it is important that your business strategy has a formula that produces a profit or you will eventually run out of money.

I was quoted over ten years ago saying the following and it still holds true today: Free beta test How to Treat Your Forex Trading as a Business. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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difference between forex and gambling

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Stock Ratings My Ratings Smart Portfolio Overview My Holdings My Portfolio Analysis Crowd Insights My Performance Customize Your Experience. Join Today Already a member? Forex Trading is Not Gambling April 10, , By Jay Meisler Is there a difference between forex trading and gambling? Of course, there is a gray area in between these two extremes where many retail traders reside makeArticleAd ;. This article appears in: Investing , Forex and Currencies , Investing Ideas. More from Global Traders Association.

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difference between forex and gambling

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