As I’m sure you’ve noticed, trading online on the foreign exchange market is something that have increased tremendously in popularity over the last couple over years, and even though it’s not classified as gambling per se, it has some similarities and it also does seem to attract a lot of online gamblers. As an avid gambler who has recently also gotten in to forex trading, I wanted to go through some of the pros and cons of both activities, to make it easier for you to see if forex trading would suit you.
I have always loved to gamble, and for many years I have spent part of my free time in various online casinos playing blackjack or slot machines. What I love about it is the simplicity and the excitement it has to offer. Sometimes I’ll win a couple of hundred, and sometimes I’ll lose, and that is something you just have to accept in gambling. Going into a casino several times a week expecting to get rich is often a recipe for disaster and a fast way to ruin you. See, the key to being a happy gambler, is to enjoy the games instead of the outcomes. I try to enjoy the excitement that builds up in me when the ball is thrown on to the roulette wheel. Whether I win or not is not as important. I understand that the casino games are designed to make me lose in the long run, and therefore I m prepared to lose my bankroll every time I play, and thus I never play for money I can’t afford to lose.
In forex trading it’s different. Here, the right set of mind would be to go in expecting to profit. In forex trading it’s all about predicting the future movements of the markets and this can be done quite accurately if you have the right knowledge, and this is what I like about the currency market. You can always get better. There are always new strategies to be learnt, and tips to be shared. However, you can’t just expect to get rich automatically, you will have to put some hard work in, and that is also what mkes it different to online gambling. Sitting in front of a slot machine, you can simply just enjoy the ride spin after spin, but in forex trading you have to use your mind. Just trading random currencies isn’t going to take you very far, as it would basically be like gambling.
In other words, if you are a gambler looking to get in to something more challenging, forex trading might just be right for you. It offers the same kind of rush that online casino gaming does, but you will also have to learn new thing in order to improve. Over time, many forex traders manage to make trading their main source of income. On the other hand, if you like the simplicity of gambling, and do it just for entertainment and recreational purpouses, forex trading might be a bit over the top. If you want to try it out, however, try visiting sites like forextrading.pm, or a spanish website called cambiodivisas.eu. They have a list of brokers offering new clients to open up a demo account. This way you can try currency trading without having to put any real money in to it!