04th Jan2021

What Are The Similarities between Forex Trading and Online Gaming?

by James Smith

When you hear Forex Trading, I am sure your picture is money in all forms of non-local currencies. You see yourself having a few bundles of cash stuck somewhere safe and accessible when your clientele comes knocking. Or better still, having that cash in some electronic form and all you need to do, is swipe up your card on some beeping machine, and hooray! A transaction is complete. What of when you hear the word online gaming? What picture does your artistic mind draw? A racing car or a roulette wheel, probably? Or is it some races, fights, home, betting, and board games? Maybe someone who might lose all their money because they are gambling. Your judgment. Most people, sorry, I mean most forex traders believe that, somehow, forex trading and online gaming shouldn’t appear in the same sentence. Unknown to them, these may be, in fact, similar activities with different names.

Both Ventures Can be Quite Unpredictable

When you put your money on an online gaming table, you are not sure whether you are going to win or lose. Same way, when in forex trading, you don’t know when the figures will rise or fall. The gains are very dynamic. One day you are making tons of money. The next, you are rolling in a pool of losses. Most people, however, try to analyze these platforms beforehand. These are people who have long-term interactions with online trading and know a few tricks that propel them to the edge.

For example, they know when the base currency rises above the quote currency and treats that as the best time to make profits. When the base currency falls, they make losses. Subsequently, gamblers also know that smaller jackpots will give them more money than bigger ones.

The House Always Has an Advantage

Most online gaming and trading companies are profit-making organizations. That, therefore, means that not everybody who places their money on either platform laughs his way to the bank.

For instance, you may stake your money when the base currency is stronger, but then the quote currency rises before the exchange period. The same way you can go all-in on a perceived sure win game but end up losing everything. When you lose, what happens? Yes, your guess is as correct as mine. The proceeds go to the house. Few times, you will have the leverage and make enormous profits for trust purposes, but most often than not, the house has to pay its bills, if you know what I mean.

Do I Have to Say That Both of Them Are Addictive?

Any game of odds is quite a hard habit to beat. One just needs to study the weakness and strength or be an avid punter to make money. Sounds easy, right? Asked to choose between hard labor and just making predictions for cash while relying solely on lady luck, which one would you go for? I bet the latter.

People love anything that throws money in their direction with less struggle.  As an example, I know of people who have risked it all to trade or gamble in an online gaming but still had to borrow to continue despite not making any profit. I am certain that you have someone in mind, too.

Conclusion

In the above ways, forex trading does not differ from gambling. Forex trading and Online gaming can be very lucrative if one takes the time to study the odds and make the right choices. However, all of this should be done responsibly.
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