Here’s a post going the other way – if you fancy yourself as a gambler, don’t learn about the forex business, it’s not for you.

Hey, it’s like poker.
It’s not like poker – just one of the many things it shouldn’t be like is poker.
You think that edge-of-the-seat stuff, adrenalin rushes, a bit of healthy panic are going to be integral and vital to the whole game? If you think that’s how the big guys do it, operating as if supercool, suave casino habitués, then you’d be way wrong. The big guys are nerds. They wouldn’t know what the hell they were doing in a real casino.

If you do trade like a gambler, then you’ll be turning your broker into the House, and they’ve already thought about that – they’ve given themselves nice fat House odds for people like you.

Remember when you tried out the lottery numbers and the system you had there?
You’ve got previous – remember? – in the past you been naturally drawn to this sort of thing and the currency market is just the latest craze. I don’t know whether there’s such a thing as an addictive personality or not, but if you’re chasing a high, then hang on…

But it’s simple odds, isn’t it? Just bet on up or down?
You might try to rationalize it – heck, gamblers gamble when they get 50% odds, I’d get 50% if I just tossed a coin – so if I do a little thinking on top, there’s my edge..
No. You’re not beating the odds that way. Risk/reward ratios in forex are a whole load more subtle than this…

Yes, it’s gambling then. No, it shouldn’t be. Don’t trade like a gambler – don’t ever trade forex like a gambler.

One Response to “Forex is Gambling, right?”

1. joe says:

   February 18, 2009 at 5:37 pm

   yeah..it’s quite a gamble. So far i still lucky hehehe

   Reply