Gambling versus Forex Trading: Who will win?

This text was originally written by Forex Social Traders, and because I met few people telling me that Trading is another form of Online Gambling. So I decided to repost this article for us to understand the difference and the science behind this two institution.



Gambler´s Dilemma: Lottery, Roulette or Forex Trading?

Gambling is a very popular activity for millions of people around the world. These days a gambler can have a big dilemma where to put his money in order to win more. There are hundreds of gambling opportunities like sports betting, horce racing wagers, casinos, lotteries, poker and for many also forex trading.

Today I would like to compare 3 from above list: Lottery, Roulette and forex Trading

1) Lottery
Lotteries can make you filthy rich overnight. Richest lotteries of the world like EuroMillions or american PowerBall can offer huge jackpots in size of $200 million or more.
But you need to be really, really, really lucky to scoop such a jackpot. For example: in richest european lottery EuroMillions your odds of winning Jackpot are 1 in 116,531,800.

However, one never knows when and where the luck strikes and so you can give it a try, choose from richest lottos of this planet and buy your lucky ticket online.

2) Roulette
Casinos and roulette are on popularity list probably as high as lotteries. However, there is one important difference. While lottery is a pure luck game, gamblers tend to think that roulette can be beaten with a good system and so they can consistantly win money in the long run.
In roulette best odds of winning are on red or black 1 to 1, but as there is also zero you need to be right more than 50% to at least break even. Best win you can get is when you bet on a single number, your odds of winning are 1 to 35 which gives you probability of 2,63%.

If you like roulette, try PlayGrandCasino and get 200% bonus on your deposit.

3) Forex Trading
Many forex traders (esp. beginners) behave like gamblers. That´s why I wrote this article. But as I mentioned above. Lotteries are pure luck games and in roulette there are different playing systems (we could polemize about their profitability long term). On the other side, forex trading is not about luck, it is a real skill game.  If you have a good trading strategy, you stick to it no matter what and your emotions are under control you are on your way to become a consistantly profitable forex trader. And what are odds of winning? Well that depends on your trading strategy. But you can be profitable even if you are right 35% of times (if your stoploss is 1 unit and your take profit is 2 units) or even less.

Of course, it takes some time to learn how to trade, but it pays off in the long run. Here are few tips about how to get started, some educational videos, demo account and more.