Many people mistakenly believe that trading belongs to the category of gambling. That is totally false. Moreover, it is not only the uninitiated who have this preconceived idea. Some beginner traders also tend to believe that this is a game: Forex trading is definitely not a game of chance
No, Forex trading is not a game!
Many people wonder whether Forex trading is a game (and a game of chance). Well, the answer is no. And traders are really not gamblers. People who have been speculating for a long time are well aware of this. Of course, chance may have a very small place in online trading, but it is so small that it is negligible.
On the other hand, many novice traders tend to believe that trading in Forex is a game. With this state of mind, they may very quickly face disillusionment. Of course, with the famous beginner’s luck, some can start with very good results. But they quickly realize that it is not just a matter of luck and that it is not a game. And that you have to rely much more than on your lucky star to evolve as long as possible and under the best conditions on the financial markets. You only have to see the most successful traders but also the most copied on eToro to understand that this is not a matter of chance
Strategies and methods
First, it should be pointed out that even professional “players” and “gamblers”, i.e. those people who earn money through online games and betting, have specific strategies in place to achieve such success. They develop playing methods that they carefully comply with in order to maintain their activities (this is particularly the case for poker players).
For his part, the Forex trader must imperatively create a trading strategy, involving in particular money management and risk management (good capital and risk management). In addition, speculating in the foreign exchange market requires regular information on financial news while observing and analysing graphs illustrating current stock market trends. Once again, it should be stressed that luck alone is absolutely not enough to last on Forex.
Decisions are made after careful consideration and analysis. It’s not just about betting on a winning number. You can discover in our special Forex file the complex but necessary elements to know to succeed in your trades on the currency market