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Defining Forex Trading and Comparing it with Gambling

After receiving numerous responses from readers regarding the previous article, I feel it necessary to provide further clarification on the differences between forex trading and gambling, especially from an economic and investment standpoint. Let's delve deeper into this topic:

Islamic Perspective on Forex Trading:

As a Muslim, I understand the importance of ensuring that everything we do aligns with religious principles. If forex trading is deemed as gambling, then the wealth acquired from such trading may be considered haram (forbidden). However, as an individual, I do not have the authority to make religious judgments. Therefore, in this writing, I will consider forex trading from an economic and investment perspective.

Differences Between Forex Trading and Gambling:

Gambling is often seen as an activity reliant solely on luck. However, forex trading differs fundamentally from gambling in several key factors:

  1. Price Drivers: In forex trading, currency prices are influenced by supply and demand, as well as various economic and political factors. Whereas in gambling, outcomes are determined entirely by the house or random draws.

  2. Legality: Forex trading is legally regulated by specific regulations, while gambling is often prohibited or considered illegal.

  3. Legal Basis: Forex trading is governed by clear laws and regulations, whereas gambling often lacks clear legal foundations.

  4. Profit Potential: In gambling, profits are often limited, while in forex trading, the profit potential is unlimited.

  5. Risk Management and Analysis: In forex trading, there are risk management strategies and analyses that allow traders to manage risks and make decisions based on objective information. Whereas in gambling, risk management is often nonexistent, and decisions are frequently based solely on speculation.

While there are differing opinions on whether forex trading can be considered gambling or not, we can see that there are significant differences between the two activities. While gambling relies solely on luck, forex trading involves analysis, strategy, and careful risk management.

I appreciate the various opinions and beliefs on this matter. Importantly, each individual should carefully consider the risks and rewards of every decision made in forex trading. Additionally, it is essential to continue learning and developing trading skills to become a more proficient trader.

Thank you for your attention and the responses provided. I hope this article provides a better understanding of the differences between forex trading and gambling. And remember, being a cold-blooded killer in the market does not mean you have to be ruthless outside the market. Stay warm and compassionate in everyday life.

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