How forex is related to betting

[Wiserr]

We all believe forex trading is a nice and legit way of earning a lot of income with in few time, though it seems very difficult because any mistake can lead to loss of money, or even blowing your account down, but if one learn all the necessary steps steps I believe he will earn passive income
The steps in forex includes analysis which is the major tax, and I believe failure in good analysis will definitely lead to lose of your money, while good analysis is related to earning a lot of money, without encountering any sort of problem or the other
Like wise the common betting that we all know, it seems to be related to analysis , good prediction leads to earning money while bad prediction leads to failure
So in this case you see both of them requires prediction, in forex trading it requires prediction whether the Price of a specific commodity will increase thayd when you will enter market , and if your prediction goes wrong it is related to failure, and in the case of sport betting one is expected to predict whether a specific club will win or loose, good prediction leads to earning money while bad prediction leads to failure and lost of your money
I think forex and betting are related
What can you say about forex trading and betting folks?

 

[btaliat]

Forex cannot be compared to betting. The two may be similar in a broader sense but it doesn't mean they work the same way though they may have things in common.

Betting is a putting stake at something with the probability that the outcome of the events will favour us. Nowadays, people analyse betting using technical and fundamental analyses as well. But that doesn't mean these are accurate as the outcomes of betting is mostly based on luck rather than analysis.

Forex on the other hand is a large market that has countries of the world selling and buying currencies. Most time, the profit is based on the volatility of currencies which are not gotten through luck but a well calculated anlsysis.

Betting is controversially legal as most countries either place age restriction on betting or even outrightly bnned betting . There is no record of banning or restrictions on forex. This only confirms the fact that forex is legal while betting may be illegal or legal.

 

[Suba]

Yeah you're right, many people out there always associate forex with betting, even though forex and betting require predictions, but there will be striking differences, forex is controlled by the central bank of each country, so there will be currency fluctuations for each country, whereas Betting is just a prediction of win or lose. In betting it is more dominated by luck, while forex requires expertise and experience, also in forex trading there is a sell or buy so there is no bet between the broker and the trader, the forex broker does not benefit from the loss or profit of a trader, the broker only accepts the spread.

 

[tetramorium]

Yeah you're right, many people out there always associate forex with betting, even though forex and betting require predictions, but there will be striking differences, forex is controlled by the central bank of each country, so there will be currency fluctuations for each country, whereas Betting is just a prediction of win or lose. In betting it is more dominated by luck, while forex requires expertise and experience, also in forex trading there is a sell or buy so there is no bet between the broker and the trader, the forex broker does not benefit from the loss or profit of a trader, the broker only accepts the spread.

I totally agree with your point. It is disappointing but true that many people relate forex trading with betting or gambling. The traders who do not conduct any technical analysis or fundamental analysis and make trades are actually gambling forex, which is not the right way.
Actual traders speculate the market based on their technical and fundamental analysis and then make trades.

 

[Jack Reacher]

There is no connection, honestly! Forex is all about the trading skill, if you try to make money here based on your luck or something like that, then surely you’ll be a loser in this professional arena! Money management is the key element here, no way to ignore this part!

 

[Wordsmith]

Betting should not be compared to forex trading. In betting, you only rely on your luck, and you’ll either win or lose in betting, whereas trading is a completely different story. In trading, forex traders speculate the market by carrying out well calculated technical analysis and also by considering the fundamentals of the market. This makes the market a bit predictable and prevents it from being entirely speculative.

 

[Heiden Lang]

@jackreacher I totally agree! Betting and forex trading are two completely different things. Betting is a game of luck and regardless of what strategy you employ, you’d still have to rely on your luck to win anything in betting. But in trading, forex traders turn odds in their favour by conducting proper fundamental and technical analysis before speculating about the market.

 

[Ithedicious]

Betting is quite different from forex because from my understanding of beating , a lot of people are losing their money and I have seen presently someone who has lost so much money on this and the person have decided to quit but still find it very difficult to.

Betting is addictive and sometimes a lot of them as I understand are looking for ways they could quit entirely but the same is not applicable to forex.

I have seen so many professional traders out there who are so passionate about what they are doing and they are making a lot of money as a forex trader. There are certain rules and regulations that must be followed for constant profit. Being able to predict the market movement to at least 80% accuracy is enough for you to be on constant profit as a forex trader. You can't compare gambling with professional trade that involve buying low and selling high.

 

[Brijesh Mckee]

The forex market and betting grounds are completely different. Even though the market is open around the clock just like the betting grounds, people from the betting and gambling world do not account for a significant chunk of the market participants. Traders on the contrary care more about statistical analysis and price patterns. The type of people that trade on the forex market consists of individuals, institutions and hedge funds. The betting game, on the other hand, is mostly populated by individuals and small teams. So the answer is, not much.