Is Forex trading essentially gambling?

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The short answer is no, Forex trading isn’t the same as gambling, but there is a certain amount of luck involved. A similar question I’ve been asked a lot is ‘is Forex trading about luck or skill?’, to which I always respond ‘both’.

You can think of it kind of like Poker. Sure, the cards you’re dealt will influence how many games you win, but professional Poker players who approach the game with a solid strategy, utilize excellent probability analysis, and manage risk effectively will win more games over time than amateurs.

The same is true for Forex trading. Some traders are better at it than others and can swing the odds in their favor through careful and considered predictions of market movements. That being said, if you don’t know what you’re doing, you’re basically gambling.

That’s why you should always learn all you can about Forex trading before you invest any real money. A lot of people will start off by practicing on a Forex trading game before they try their luck in the real market. For example, I used an app I downloaded on https://forexhero.eu/ to learn about the best times to trade and how to predict market movements based on trends.

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