Forex trading, is it just gambling?

In gambling, you are dealing with chance. There is no underlying asset here that has value. There is no Supply and Demand in this equation. There are no Support and Resistance numbers. You risk the full amount of your bet (investment).

In speculating on an asset, there is always demand, therefore there will be support for price. Sellers will come in at Resistance. These are popular trading points to increase your odds of winning. Others trade at Fibonacci retracement levels. There is no such thing in the casino.

There are literally hundreds, if not thousands of fundamental scenerios that apply to any currency, stock or commodity. Likewise there are literally thousands of methods using Technical Analysis. These things do not apply to chance and random numbers.

Many traders use the trend to give them direction, buying on dips in an Uptrend, and selling on rallies in a Downtrend. When a trend is broken, the position is reversed. There are no trends in gambling.

When you place a bet at the casino, it is all or nothing in the next few seconds. When I bet on a currency or index future or stock, I can take any portion of my profit or loss at any time, or I can let it ride for a month or year or decade. I can limit my loss with a Protective Stop, and I can move my stop closer to price as the price moves in my favor.

You can certainly gamble in the currency market or commodities market or in real estate or the future direction of car prices. And you will lose in the currency market, just like you do at the casino.

You seem to be a novice and uninformed about trading. A successful trader generally has rules that he applies over and over to duplicate success. A professional trader does not simply "roll the dice." He is a learned man and makes informed decisions based on many factors affecting his "investment."

There can be no great success in trading (life) without great commitment, hard work, discipline, and the realization of the â€œrightâ€ type of thinking. Gambling is not "right" thinking.

It is the traderâ€™s attitudes, beliefs, and discipline that ultimately yield results. Courage and positive attitudes combined with sound market principles and methods will, in time, result in the desired outcome. No matter how hard you work at gambling, you are still dealing with chance.

One of the most important Samurai texts ever written, by Miyamoto Musashi, â€œThe Book of the Five Rings (1643)â€, offers this advice: â€œThink of what is right and true. Learn to see everything accurately. Become aware of what is not obvious. Be careful even in small matters. Do not do anything useless.â€

Gambling is useless, while speculating can be enriching and profitable.