This is something that I hear a lot from people. I tell them that I’m a forex trader and that is how I earn a living. Well, the obvious question comes first: What is forex? I simply explain that it stands for foreign exchange and it is the market place of currencies. I just tell them that I trade currencies to make money. In one form or another someone will say, “isn’t that gambling?” The way they view it is that you’re putting money into the market with the hopes of making more money, but there is risk that you can lose it – therefore a gambler.

I don’t think gambling can be defined that simply because that’s essentially what I’m doing. A gambler is a person that puts their money on the line for typically a thrill to begin with. They’re looking for a high as a pay back, so essentially that is what they profit with.

Another point is that a gambler knowing (or unknowingly) gets involved in things that will statistical cause them to lose money. The odds are always against the gambler. People that invest are typically indifferent to their trades and get involved win things that have winning odds for profit.

Am I a forex trader or a gambler? I’m definitely a forex trader. I’m making the most profitable decisions possibly by playing the odds for my benefit. I never get involved in trades that will leave me on the losing end. That’s what separates gamblers and traders.