This is a question lots of Nigerians ask.

And believe me, it can sometimes be tricky.

Here's why.

Betting gives you stats so you make informed decisions.
Forex also gives you stats.

They're both a winning and losing games.

But here's the ice breaker.

Unlike betting, you can master Forex and reduce your chances of losses.

Agreed?

What's your opinion on this?

You are obviously a forex trader

Ugobest101:
This is a question lots of Nigerians ask.
And believe me, it can sometimes be tricky.

Here's why.
Betting gives you stats so you make informed decisions.
Forex also gives you stats.

They're both a winning and losing games.
But here's the ice breaker.
Unlike betting, you can master Forex and reduce your chances of losses.
Agreed?

What's your opinion on this?

they are both the same...as there is NOBODY out there who has never lost at forex (just like betting). all these experts and courses are not being honest with the issue of forex. forex is all about LUCK, just like betting.

MrBrownJay1:


they are both the same...as there is NOBODY out there who has never lost at forex (just like betting). all these experts and courses are not being honest with the issue of forex. forex is all about LUCK, just like betting.

Bro forex is not about luck. Quit that talk and i won't explain or argue with you.

MrBrownJay1:


they are both the same...as there is NOBODY out there who has never lost at forex (just like betting). all these experts and courses are not being honest with the issue of forex. forex is all about LUCK, just like betting.

It's mostly not about luck sha. I think Forex is better than betting.

Ugobest101:


It's mostly not about luck sha. I think Forex is better than betting.

Pls tell him you can learn how to understand the forex market but you can never learn betting.

Ugobest101:
It's mostly not about luck sha. I think Forex is better than betting.

show me a person who "claims" they have never lost at forex, and you will have a liar. forex is definitely about luck as you cant predict how it will go... if you could then EVERYONE will be rich of forex, and there wouldnt be people out there losing their whole investment.

you can learn about the forex, yes, but that certainly does NOT make you always successful. there are NO RULES to forex... a stock doing good today, can do bad tomorrow. even some of the greatest forex investor are losing money daily.

MrBrownJay1:


show me a person who "claims" they have never lost at forex, and you will have a liar. forex is definitely about luck as you cant predict how it will go... if you could then EVERYONE will be rich of forex, and there wouldnt be people out there losing their whole investment.

you can learn about the forex, yes, but that certainly does NOT make you always successful. there are NO RULES to forex... a stock doing good today, can do bad tomorrow. even some of the greatest forex investor are losing money daily.

One big difference is, you can bet with #10 in betting, but you can't with Forex.

I'd prefer Forex to betting.

Ugobest101:
One big difference is, you can bet with #10 in betting, but you can't with Forex.

I'd prefer Forex to betting.

you sir should get acquainted with penny stocks and the OTC trading market... i could get more than a million shares of different stocks with less than $10. BTW when APPLE and/or FORD MOTOR started trading, they were penny stocks too.

TrennixGLOBAL:


Pls tell him you can learn how to understand the forex market but you can never learn betting.

Big lie bro.. you can learn and master sports betting... It's like Forex too.. sport betting is rigged sometimes, so is Forex in its own way..

Sport betting can be mastered.. Bill benter, tony bloom, Billy Walters and so many more did it...

Becos, you couldn't successfully master or find Ur way around sport betting doesn't make it a no go area..

What I see as the major difference between Forex and sports betting is the winning limits (maximum winnings).. since, Forex market is a lot bigger, the winning limits is a lot higher than sports betting.. but, that doesn't really matter becos sport betting still has a very huge market too..

Bgad:


Big lie bro.. you can learn and master sports betting... It's like Forex too.. sport betting is rigged sometimes, so is Forex in its own way..

Sport betting can be mastered.. Bill benter, tony bloom, Billy Walters and so many more did it...

Becos, you couldn't successfully master or find Ur way around sport betting doesn't make it a no go area..

What I see as the major difference between Forex and sports betting is the winning limits (maximum winnings).. since, Forex market is a lot bigger, the winning limits is a lot higher than sports betting.. but, that doesn't really matter becos sport betting still has a very huge market too..

I was a successful punter before i left betting to focus fully on my trading.

You can't learn sports betting but you can develop a strategy to use for it in any aspect you are so i don't dispute your stand on that but i need to correct you that Forex market is not rigged but rather manipulated.

I have been in both(forex & betting) for more than a decade so i know the difference related to experience.

During my betting days, i used arbitrage. I also traded sports especially soccer.
Now i am on ICT concepts in the forex market. I didn't disputed any of the things you are saying so try to understand before you comment.

MrBrownJay1:


show me a person who "claims" they have never lost at forex, and you will have a liar. forex is definitely about luck as you cant predict how it will go... if you could then EVERYONE will be rich of forex, and there wouldnt be people out there losing their whole investment.

you can learn about the forex, yes, but that certainly does NOT make you always successful. there are NO RULES to forex... a stock doing good today, can do bad tomorrow. even some of the greatest forex investor are losing money daily.

You are asking a question and answering it yourself.
There is a saying that "You should never argue what you don't know."

Show me the business which doesn't have loss? Even dangote do have losses but that doesn't take him out of the business cos there are also days of gain just as there are days of loss but your aim is to make your profitable days more than your loss days, only then can you call yourself a successful businessman whether in the forex market or any other business.

This is why we have risk management in forex to minimize our loss and maximize our gains.
Real traders don't try to predict the forex market just like you are saying. That's the mentality that makes a lot of them newbie traders not profitable with this mentality. We only react to it not predict the market movement.

That same mentality of prediction added with lack of discipline joined together with lack of risk management makes 90% unsuccessful in Forex but there are still successful traders even here on nairaland. If you doubt it, that's your headache.
Try searching for "Jeffery Benson" or "Habby FX" and try to get their location so you could go visit them and see their live trades plus confirm for yourself.

There are lots of things i can't say cos you will never understand but i will still remind you.

"DON'T ARGUE WHAT YOU DON'T KNOW..."

All this talk back and forth. My own is....which one do any of you knows that fetches money and is teachable?
I'm open to learning free things every day.

TrennixGLOBAL:


You are asking a question and answering it yourself.
There is a saying that "You should never argue what you don't know."

Show me the business which doesn't have loss? Even dangote do have losses but that doesn't take him out of the business cos there are also days of gain just as there are days of loss but your aim is to make your profitable days more than your loss days, only then can you call yourself a successful businessman whether in the forex market or any other business.

This is why we have risk management in forex to minimize our loss and maximize our gains.
Real traders don't try to predict the forex market just like you are saying. That's the mentality that makes a lot of them newbie traders not profitable with this mentality. We only react to it not predict the market movement.

That same mentality of prediction added with lack of discipline joined together with lack of risk management makes 90% unsuccessful in Forex but there are still successful traders even here on nairaland. If you doubt it, that's your headache.
Try searching for "Jeffery Benson" or "Habby FX" and try to get their location so you could go visit them and see their live trades plus confirm for yourself.

There are lots of things i can't say cos you will never understand but i will still remind you.

"DON'T ARGUE WHAT YOU DON'T KNOW..."

I 100% love this clarification. Thumbs up 👍

khreus:
All this talk back and forth. My own is....which one do any of you knows that fetches money and is teachable?
I'm open to learning free things every day.

You can learn Forex for free. Jeffrey Benson has some free Forex course you can look for.

We learn everyday. They are both similar in the sense that they are centered on speculation. In my own opinion, the difference is that betting is more risky since your chance of winning is determined by too many factors that makes accurate prediction more difficult than Forex. It is true that one can learn betting and become a pro too but there are factors that still make it a difficult endeavour even if you are a pro: the price (odd) is set by experts (bookies) who wish to see you lose your money and events on the field of play could go against your expectation (red card, VAR, injury, important player having bad day, tactical blunder from the coach, etc).

Another difference is that you stake your money in betting and that means once you've placed your bet, the money is gone already and only events on the field of play will determine if you are getting anything back or not. You don't stake in Forex, you buy or sell.

If I bet 1 million on a 1.20 odd, I have to part ways with my 1 milla in expectation of making 200k profit and if anything goes wrong, my one million naira is gone for good. But I can buy a currency with expectation that it would rise by 5% which would give me 50k profit from 1 million, if it falls by 5% instead, I lose 50k from my 1 million. So, in terms of risk, they are not the same at all.

TrennixGLOBAL:
You are asking a question and answering it yourself.
There is a saying that "You should never argue what you don't know."

Show me the business which doesn't have loss? Even dangote do have losses but that doesn't take him out of the business cos there are also days of gain just as there are days of loss but your aim is to make your profitable days more than your loss days, only then can you call yourself a successful businessman whether in the forex market or any other business.

This is why we have risk management in forex to minimize our loss and maximize our gains.
Real traders don't try to predict the forex market just like you are saying. That's the mentality that makes a lot of them newbie traders not profitable with this mentality. We only react to it not predict the market movement.

That same mentality of prediction added with lack of discipline joined together with lack of risk management makes 90% unsuccessful in Forex but there are still successful traders even here on nairaland. If you doubt it, that's your headache.
Try searching for "Jeffery Benson" or "Habby FX" and try to get their location so you could go visit them and see their live trades plus confirm for yourself.

There are lots of things i can't say cos you will never understand but i will still remind you.

"DON'T ARGUE WHAT YOU DON'T KNOW..."

the sad part here is that many of you believe the stuff you write, lol! if i think like you do, since some people into betting "win some and lose some" therefore this is a profitable venture comparable to opening a business, right?
what you wrote above is a stoopid as me saying that because Messi is a successful footballer therefore everyone going into football will succeed, stop trying to feed a pipe dream to gullible NLers. the reality is that FOREX IS A DAMN GAMBLE and the majority of ignoramus (and some savvy people too) who enter it lose ALL their money. we all know about some of the biggest savvy investors out there who LOST IT ALL.

but since you want to claim lies online, let me give you FACTS about the Forex: 80% of all the donkeys who start investing in Forex lose all their money... AND THATS A DAMN FACT ABOUT STOCKS AND TRADING!!!!

MrBrownJay1:


the sad part here is that many of you believe the stuff you write, lol! if i think like you do, since some people into betting "win some and lose some" therefore this is a profitable venture comparable to opening a business, right?
what you wrote above is a stoopid as me saying that because Messi is a successful footballer therefore everyone going into football will succeed, stop trying to feed a pipe dream to gullible NLers. the reality is that FOREX IS A DAMN GAMBLE and the majority of ignoramus (and some savvy people too) who enter it lose ALL their money. we all know about some of the biggest savvy investors out there who LOST IT ALL.

but since you want to claim lies online, let me give you FACTS about the Forex: 80% of all the donkeys who start investing in Forex lose all their money... AND THATS A DAMN FACT ABOUT STOCKS AND TRADING!!!!

Suit yourself with whatever ideology you deem fit. Congratulations 👍👍

Like i said, "Don't argue what you don't know.."

TrennixGLOBAL:
Suit yourself with whatever ideology you deem fit. Congratulations 👍👍
Like i said, "Don't argue what you don't know.."

you are welcome sir... good luck in your Forex endeavours

like i said:"80% of all the donkeys who start investing in Forex lose all their money... AND THATS A DAMN FACT ABOUT STOCKS AND TRADING!!!!

What's the difference between forex and crypto trading? Do they have the same risk?

MrBrownJay1:


you are welcome sir... good luck in your Forex endeavours

like i said:"80% of all the donkeys who start investing in Forex lose all their money... AND THATS A DAMN FACT ABOUT STOCKS AND TRADING!!!!

👍👍👍

anadozie1:
What's the difference between forex and crypto trading? Do they have the same risk?

Crypto trading is much more volatile than forex. The volatility in crypto is very high so it can give you profit or take you out in seconds.

TrennixGLOBAL:


Crypto trading is much more volatile than forex. The volatility in crypto is very high so it can give you profit or take you out in seconds.

Thanks.

Ugobest101:


You can learn Forex for free. Jeffrey Benson has some free Forex course you can look for.

Gracias