30% trading is gambling.

[iMusingKiMi]

I do agree with iMusingKimi's views, Everyone does/doing Gambling (RISK) everyday. Its part of life.

Thanks for agree mate.

1 more important point I think I could share about this "gambling".

Remember 1 thing, we all gamble in our life, BUT:
Amateurs FOCUS on REWARDS,
Professional FOCUS on RISK.

So, that's make the big difference.

 

[iMusingKiMi]

Well, I guess we can chalk it all up to a matter of perspective then. If you are of iMusingKimi's view, then we all gamble all the time. Otherwise, its all about your thoughts on it

Money makes money, money growth more money. You use money to makes more money, therefore we can define it as gambling IMO. If you doesn't want to define it as gambling, probably the most suitable for Forex are all about survival game. If you don't know how to survive in this game, we can only define it as "LOSER", because it is even worst than gambling.

 

[jotekfinance]

Ahh, but someone else's perspective is that perhaps not all business is gambling. Maybe FOREX is, but if I put my money in an insured bank, and let it get slow and steady interest, is that gambling? What about an insured IRA for example?

 

[iMusingKiMi]

Ahh, but someone else's perspective is that perhaps not all business is gambling. Maybe FOREX is, but if I put my money in an insured bank, and let it get slow and steady interest, is that gambling? What about an insured IRA for example?

Maybe you are right not everyone perspective that all business is gambling. But as long as we don't know what happen in future, there are still risk involve. When a risk is involve, perhaps we still consider it as a gambling.

Ok, maybe you put your money in an insured bank to assure your money growth, but is that a growth of real money or just some figures? Let's take an average of 5% annually of growth if you put in an insured bank, but when you calculate on the current economic growth, your money actually still remains although they give you some interest because no matter in which country, living standard and spending increase annually. Putting money in an insured bank just to assure in future you have some money instead of growing it to more money. Just my 2 cents view.

I don't know what is insured IRA anyway.

 

[robertrfx]

Ahh, but someone else's perspective is that perhaps not all business is gambling. Maybe FOREX is, but if I put my money in an insured bank, and let it get slow and steady interest, is that gambling? What about an insured IRA for example?

Gambling or investing coming from the intention. If you have get rich quick mind without considering the risk is Gambling. In investing you know the risk involved in Return

 

[iMusingKiMi]

Gambling or investing coming from the intention. If you have get rich quick mind without considering the risk is Gambling. In investing you know the risk involved in Return

Agree that. If everyone mind is just about earning more without understanding or taking the risk involved, there will be no more competition in this world. "No Free Lunch in This World",

 

[downtrend]

Many traders especially newbies trade in such gambling manner. Its because many that enter forex market wants to get rich quickly. In trying this they use huge lot sizes and mostly lose all of their account capital in some trades.

 

[iMusingKiMi]

Many traders especially newbies trade in such gambling manner. Its because many that enter forex market wants to get rich quickly. In trying this they use huge lot sizes and mostly lose all of their account capital in some trades.

As usual,

Amateur focus on REWARDS,
Professional focus on RISK.

 

[Jeffrey Lewis]

Maybe you are right not everyone perspective that all business is gambling. But as long as we don't know what happen in future, there are still risk involve. When a risk is involve, perhaps we still consider it as a gambling.

Ok, maybe you put your money in an insured bank to assure your money growth, but is that a growth of real money or just some figures? Let's take an average of 5% annually of growth if you put in an insured bank, but when you calculate on the current economic growth, your money actually still remains although they give you some interest because no matter in which country, living standard and spending increase annually. Putting money in an insured bank just to assure in future you have some money instead of growing it to more money. Just my 2 cents view.

I don't know what is insured IRA anyway.

There's nothing wrong with putting your money in a bank, but it definitely won't be growing very much profit while it is sitting there... It reminds me of this quote:
"How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case." - Robert G. Allen

 

[downtrend]

There are certain times, especially during learning period where many traders trade with no strategy, they also try to revenge trading using high lots mostly when they lose some amount in any trade.