Why Forex or Forex Trading and Gambling are not the Same

forex trading strategy

Many people think Forex and gambling is no difference. But what factors make Forex trading and gambling different? Here, you will find out the comparison between those two industries.

Factor number 1: players

In Forex, the market is supported by several the most important and biggest financial institutions around the world. It is correct that Forex traders do not trade their money with banks, but they trade their money on retail market. Since, Forex market is supported by big organizations, the legitimacy is higher compare to gambling world. Gambling industry sometimes faces a lot of challenges related to legal front. The legitimacy of Forex is just the same as another market like commodities and stocks. So, if you are one of those people who are interested in Forex trading and taking a risk, why would you even think about putting your money on gambling where you will face morals and law in the future? read:4 Reasons to Choose Forex Trading for Investment

Factor number 2: numbers

When you think about legal issues, ethics, moral, and legitimacy, let’s bring your focus on one and only reason why people do Forex trading or gambling: money. Actually, there is no exact amount to be compared about the trading money in gambling arena and Forex market. But several statistics show that there are around 2 to 6 trillion dollars are traded every day in the Forex market. But the exact amount of trading in gambling is not really clear and surely can’t be compared.

Factor number 3: emotions

As we know that gambling causes addiction which is one of the main issues. It is because gamblers let their emotion get the best of them. When you step your foot into a casino, the only desire in your heart is getting money. When you fail to fulfill this desire, you tend to try to gamble again and again until you lose your money. This is the addiction people talk about when they gamble aggressively. Meanwhile, in Forex trading the first and essential rule is to leave all emotions behind. You should trade scientifically and objectively. Then, set the goal of your trading and stick with it. It can help you to not feel long disappointment when the result is not like what you expect. That is why strategy is really needed to trade in Forex market.
read:3 Strategies of Forex Trading for Professional Traders

Forex and gambling are not the same as many people think. Those factors are just the examples to differentiate gambling and Forex trading. If you have more ideas, you can list that and see why you should choose Forex instead of gambling.

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