Please share your experience, and prove me wrong.....I believe they are all Gambling.

Don't Quote me, if you don't have any experience In both Bet9ja and Forex

Forex isn’t the same as gambling.

Forex trading has no similarity with gambling, and they’re different from one another. Gambling gives an option to choose between A and B, where one is and only the correct answer. It’s a game of luck, which doesn’t require strategy or planning but rather stakes. However, forex trading requires a comprehensive analysis, understanding, and efficient forex trading strategy with other necessary factors before a trader can have a chance at success. You can make profits without preparation and luck from the forex market maybe once, but a trader that built his strategy on that will end up losing all his money. These, among others, make most forex traders lose money daily, thinking they can make money by just “staking and guessing” the movement of the price.

lazkizz:
Please share your experience, and prove me wrong.....I believe they are all Gambling.

Don't Quote me if, you don't have any experience In both Bet9ja and Forex

Betting is being regulated by the government but they do not participate

Forex also is being regulated by the government but they do participate

Oga OP no difference joor
USD/JPY is not different from ARS/LIV
one side must win and the other lose

Bigredmachine:


Betting is being regulated by the government but they do not participate

Forex also is being regulated by the government but they do participate

Oga OP no difference joor
USD/JPY is not different from ARS/LIV
one side must win and the other lose

men Bros ...I appreciate this your response....it has solve alot of arguments between me and my friends.

Ova wisdom wan kill you

Forex isnt gambling but you can gamble with it. Those who say forex is a scam are those who gamble with the market.

A friend told me that FOREX na Bet9ja wen go Harvard. As long as you have to choose between two or more successive outcomes in order to win, it's a game of chance and nothing more. Both are affected by factors beyond the traders / punters' control and in both cases very few people hit it big.
In forex trading, a single event can determine whether a currency will rise or fall, past data is also used for analysing future outcomes likewise in betting. So no difference.

tesseract:
A friend told me that FOREX na Bet9ja wen go Harvard. As long as you have to choose between two or more successive outcomes in order to win, it's a game of chance and nothing more. Both are affected by factors beyond the traders / punters' control and in both cases very few people hit it big.
In forex trading, a single event can determine whether a currency will rise or fall, past data is also used for analysing future outcomes likewise in betting. So no difference.

I doubt the veracity of your comment

Rule 16 of nairaland is certainly against forex and bet so yes they are both scam

Forex(foreign exchange) is simply buying and selling currency. Banks engage in the foreign exchange market. But it's better than bet9ja. Bet9ja is sports betting and it's a form of gambling where you predict match outcomes.
Secondly forex requires high knowledge in fundamental and technical analysis, while sports betting is just predicting outcomes which may not go according to your prediction. You cant tell me that man city will always beat arsenal anytime they meet. You can't tell really who would win at that point, even if man city uses it full squad, there's still a possibility of arsenal winning. But in forex, you can predict by comparing the economic growth of two countries or zones. Take for example when the UK left the eu (Brexit) we saw the GBP( British pounds) in bear position. So any pair you're trading that day that has GBP will always show that the GBP is weaker and most importantly, you can control losses in forex market. It's generally called risk management.. there's the stop loss and take profits and you can enter and leave the market anytime you want. Provided it's on Monday to Friday. And it's active 24 hours a day. They are not the same sir

Iampontiac:
I doubt the veracity of your comment

Why ? If you have a contrary opinion why dont you state it .

Don't go with dat notion bro.. Na only people wey fail in forex dey call am scam. Even d so called betting get principle. Without being skillful u can't trade forex. If you have d skills is not a scam.. If you no get d skills na scam e go turn for ur face.

Yusfunoble:
Forex isn’t the same as gambling.

Forex trading has no similarity with gambling, and they’re different from one another. Gambling gives an option to choose between A and B, where one is and only the correct answer. It’s a game of luck, which doesn’t require strategy or planning but rather stakes. However, forex trading requires a comprehensive analysis, understanding, and efficient forex trading strategy with other necessary factors before a trader can have a chance at success. You can make profits without preparation and luck from the forex market maybe once, but a trader that built his strategy on that will end up losing all his money. These, among others, make most forex traders lose money daily, thinking they can make money by just “staking and guessing” the movement of the price.

Don't mind them.
Whenever they fail at something.. They will easily call it scam. If others are successful in same biz. U should know it requires time and dedication before u can be successful.. For them na to open a demo account and practice for a month and go live. Once they blow account. They practice again for like one or two weeks they will blow it again.. Dem go just conclude it's not working. You can be successful in forex ..dats d bitter truth.

Ew

BigDick70inch:
Forex is shitty as gambling......
I lost 70k to forex trading late last year.....

that's because you gambled and not trade the market the proper way....small info u get about fx makes u feel u don turn omnipotent for forex. You go do anyhow, the market go humble you, u go come they shout up and down as if na Paul Tudor jones and Ray Dalio knowledge u use trade and the market still Bleep up.

Lanceanonymous:
Forex(foreign exchange) is simply buying and selling currency. Banks engage in the foreign exchange market. But it's better than bet9ja. Bet9ja is sports betting and it's a form of gambling where you predict match outcomes.
Secondly forex requires high knowledge in fundamental and technical analysis, while sports betting is just predicting outcomes which may not go according to your prediction. You cant tell me that man city will always beat arsenal anytime they meet. You can't tell really who would win at that point, even if man city uses it full squad, there's still a possibility of arsenal winning. But in forex, you can predict by comparing the economic growth of two countries or zones. Take for example when the UK left the eu (Brexit) we saw the GBP( British pounds) in bear position. So any pair you're trading that day that has GBP will always show that the GBP is weaker and most importantly, you can control losses in forex market. It's generally called risk management.. there's the stop loss and take profits and you can enter and leave the market anytime you want. Provided it's on Monday to Friday. And it's active 24 hours a day. They are not the same sir

oga there's no need for this comprehensive explanation. The market is not meant for everybody even though na everybody fit participate. Forex is legit weather they like it or not. Because person blow him account no mean say forex don turn scam.
Maybe the people wey dey profit back to back get two heads

richysam:
oga there's no need for this comprehensive explanation. The market is not meant for everybody even though na everybody fit participate. Forex is legit weather they like it or not. Because person blow him account no mean say forex don turn scam.
Maybe the people wey dey profit back to back get two heads

Hmmmmmm

There's similarity

My understanding now is ; applying a simple 8/10 probabilities of good forex indicator on bet then it became the same

With this you can bet on football without sentiment, by obseving the history of two clubs

Running a regressional analysis or simple statistical Mean, one can bet when certain average number satisfied a particular condition


The only different is forex has a stop loss which can mitigate outright account wipe, sports bet may lack this part

lazkizz:
Please share your experience, and prove me wrong.....I believe they are all Gambling.

Don't Quote me, if you don't have any experience In both Bet9ja and Forex

I traded forex for 2 years but stopped early last year, i plan to start again by next year, i will say forex is for the brave. If your aren't brave, the market is bound to chew up all your capital in no time. There will be days where everything you click goes blue, there will also be days where red is unavoidable its all part of trading. the only problem with traders regardless of their style (fundamental or technical) is that there is this eagerness to jump right back into the market after a loss to recover it right away and end of blowing their accounts up . Top professionals have mastered the emotional part of trading to accept and have limits whether they are on winning streaks or loosing streaks. still and still the market can be so unpredictable and there are definitely some things out of your control this is where the similarity with gambling comes in. if your dare trade on one of those days, example trading on a major country's election day e.g usa could be similar to donating your money to the market.

Forex is gambling which is very obvious, stop deceiving yourself with indicators and analysis that can't control or tell you the future correctly. You can have good days and bad days it is same thing with sports betting. It just depend on money management. So all you forex people stop deceiving yourself and for your information have done both and I ain't no newbie in any market

MrBroke:
Forex is gambling which is very obvious, stop deceiving yourself with indicators and analysis that can't control or tell you the future correctly. You can have good days and bad days it is same thing with sports betting. It just depend on money management. So all you forex people stop deceiving yourself and for your information have done both and I ain't no newbie in any market

Thinking deep