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 Many tend to include online forex trading in the overall gambling industry. Their reasons are quite strong: in many ways the forex trading platforms have similar characteristics with poker rooms and even casinos.
First of all the minimum initial investment is now as low as $50 which is ridiculously small for a serious trading activity. It is true that the leverage enables traders to risk smallest amounts of money while trading but is hilarious to say that you really trade on forex with just $50.
The trading platforms are so easy to use encouraging this way the amateurs to trade. The number of online amateur traders is far more greater than the number of professionals. The explanation for this situation is obvious: the high accessibility and the low minimum investment requirements. All trading platforms have a whole range of different graphic settings and indicators that can be used for a thorough technical analysis but in order to conduct a correct technical analysis the trader must possess the necessary knowledge. Without the right knowledge any attempt to predict the market is only a lucky guess. In order to conduct a genuine technical analysis is not enough to get an idea about the indicators, you really need to understand them, to know exactly how they work and which one to use in each particular situation. As a fair conclusion we can say that online trading can be considered a gambling activity in some circumstances. Basically the it depends on the trader. If the trader is an amateur that has no experience and does not possess the knowledge it’s just gambling. On the other hand if the trader has previous trading experience, learned all about the forex market and how to use the technical analysis to predict the market trend and rates movements, the trading activity is based only on knowledge, not on lucky guesses. |
