Online Trading Is No Sin

[⭐ analyst75]

“I’ve not failed. I’ve just found 10,000 ways that won’t work.” – Thomas Edison

“…If trading is only about money, you have very little chance of success.” – Dr. Van. K. Tharp

In recent times, some people have questioned the morality of online trading. Obviously, the question comes from lack of real understanding of trading.

Trading had long been done before the advent of the Internet: the Internet technology simply made it easier and easily accessible. In other areas of life and business, most things that were done before the advent of the Internet have now gone online. Think about hotel reservations and university applications for examples.

There are different types of markets, and Forex is just one of them. For examples, one can speculate on the prices of agricultural products online, and the risky nature of doing that doesn’t make it immoral.

It’s clear that trading online isn’t a sin – just as reading religious literature online and joining a service online isn’t a sin. We can now listen to sermons online, which wasn’t possible 50 year ago. Does that make it a sin?

With fast advances in science and technology, the ways we do business will forever keep on changing and evolving. A few or several decades ago, trading was done mainly in the pit, but things have changed now. Thanks to the Internet.

James Altucher says that when he was 13 years old, the job he’s doing now didn’t exist. His daughter might end up doing a job that didn’t exist when she also was 13 years old. Those who don’t adapt to the changing technological ways of life will pay a heavy price for their myopic views.

At the beginning of his book, “Tough Times Never Last but Tough People Do,” Robert H. Schuller (RIP) mentions what happened to his dad as a farmer. All his labor, crops, property and so on, were all destroyed by a violent storm. All his hard labor was in vain. Does that make it immoral to be a farmer?

Apart from the fact that there are certain factors beyond the control of the farmer (like weather conditions, poor harvest and economic forces); the farmer can sell at loss or at profit. That doesn’t make it a sin to be a farmer. In fact, farming is a noble profession. Trading is a noble profession too.

Robert’s dad continued working as a farmer. Though he seemed totally hopeless and helpless, but there was inner hope in him. What later happened to him? He was already a successful trader when he died.

One popular celebrity said she doesn’t believe in marriage. She was married about 32 years ago, and the marriage crashed in less than 2 years. Since then, she’s been preaching against marriage. Certain male and female celebrities also don’t believe in marriage. Does that make it wrong to get married? I know many people whose marriages are super successful. Marriage isn’t compulsory; neither is it evil.

A trading legend makes money trading stock and loses money trading futures, options and Forex, and he concludes that one can’t make money from Forex. Another legend that makes money from stocks, options and Forex says they’re excellent markets. What can you conclude from that? It means that the fact that one person is losing in a market doesn’t mean that others can’t make money from the same market.

The world-famous Dr. Van K. Tharp has been using what he calls “oneness formula” to transform lives of traders. He mentions something like an inner guide who leads and guides traders to become successful not only in trading, but in other areas of life. According to him, if you are not organized or tend to procrastinate or run away and hide each time you encounter some major psychological issue that impacts your life, then you don’t have a chance at becoming a successful trader.

This is what one of the beneficiaries of Van Tharp’s works has to say:

“There was a time I identified a negative association about God and trading, and sometimes I felt uncomfortable with the idea of trading. But then, I learned how it was just a belief. Just that. And I can always change any belief I want, and when I see things in a different way, there is no conflict between God and trading.” - J. Ernesto D. M. (Source: Vantharp.com).

Anne-Marie Baiynd is a successful trader as well as religious. This is what she’s to say:

“I strive for God to be in charge of my life. I live as a speck of dust, flawed, sinful and self-serving by nature. My existence is defined by emptiness without the existence of the All Mighty God. I am accepted and loved, nonetheless, and that creates within me, a great joy and contentment knowing that all my triumphs and successes come from God.”

Sir John Templeton, a market wizard, also said: “We are trying to persuade people that no human has yet grasped 1% of what can be known about spiritual realities. So we are encouraging people to start using the same methods of science that have been so productive in other areas, in order to discover spiritual realities.” (Interview with Financial Intelligence Report).

Bruce Bower, a hedge funds manager, is a Christian who goes to Church regularly. Joes Ross, one of the most experienced and the most eclectic traders in the word, is a good Christian. There are good Muslims who’re also traders. There are good Hindus, Buddhists, etc. who’re good traders as well. There are proficient traders all over the world who belong to major or minor religions. This is a level playing field.

Failure Is a Good Thing

Please see the quotes from Thomas Edison and from Dr. Van K. Tharp above. Failure is embedded in success. It’s part of success. It gives you opportunity to do your trading intelligently. Failure helps you to see how not to trade. When you do trading and fail, you learn how not to trade, and you use another method. Even if the new method fails, you try another method… Until you come across a trading approach that works for you.

Those hugely successful people that you now envy took risks. They could’ve failed just like many others, but they were fortunate. If they failed, they’d try again and again. Mark Zuckerberg, who thinks of himself as an atheist, says the biggest risk is not taking any risk... In a world that’s changing really quickly, the only strategy that is guaranteed to fail is not taking risks.

The fact that you fail or the majority fail in something doesn’t make it sinful. Good trading is a serious business, not gamble. However, it’s not without risk, just like any other things in life.

Trading is definitely no sin. Good trading principles aren’t against any other religions.

This piece is ended with the quotes below:

“I pray to Jesus Christ every day, but that is not a means to handle trading. I ask Him to guide my decisions, and that I would do my investing to glorify Him. Because I use my rules, there is little, if any, stress over trading. My processes are designed to take my emotion out of my infrequent buying and selling.” – David J. Merkel

“I love the markets: They are alive, they move, they have spiritual energy. They are an expression of the universe and of course they are my mirror, just as they are your mirror. They are the medium through which I choose to express myself and grow. I am grateful for this and the technology that allows me to participate and trust that the markets will always be there, no matter what change is upon us in the coming years.” - Mercedes Oestermann van Essen (Source: Thebuddhisttrader.com)

Source: www.tallinex.com

[Abhishek Singh]

Online trading is definitely the best thing as far I am concern, it has done wonders for me especially with supporting company like OctaFX where I get ideal conditions which includes low spread of 0.2 pips for all major pairs while there is also smooth platform that really helps me trade better and allows me to be successful which is why I love it so much and always prefer it over any other company that I have previously worked with.

[monalipa]

if forex trading is a sin so also is buying and selling of any goods especially imported goods as their prices also fluctuates. If you are a Muslim I think broker now offer special Islamic account without swap I think. Brokers like http://www.alpari.com, tickmill, hotforex and instaforex offers this type of account.

[tradesprint]

I guess forex and binary options trading is the only legit business available online these days, those who have issues with trading have always an option to trade goods physically. Those who are willing to trade online but are worried about interest factors then they can also opt-in to swap free accounts.

[Sam Patrick]

In forex market spreads plays an important role. Tight spreads ensure your maximum profit. The more you give spreads, the more your profit will decreases. So, it is very necessary to have tight spreads for any trader to become successful and make money from this market.

As a trader, I am trading with Forex4you. They provide very tight spreads starts from 0.1 pips. It helps me a lot to make money easily. It helps me to make more profit from the market. As a broker, They are really good and their services are very fantastic.
 

[saumyaramchandran]

Many people buy and sell financial products online, such as stocks, currencies, bonds, futures, options, etc. They can use many trading platforms to perform their trade and earn a profit based on their investment strategy and objectives. They can treat this as a source of additional income besides their occupation and start investing at an early age.

Since every sector has adopted online methods of usage, why not trading? Online trading has become quite popular among investors because of the ease and convenience of use and tracking. They can easily monitor their shares and investments at just a click or a tap on their PCs and smartphones. They can access it anytime and anywhere without involving the broker or any third person.

•    It is convenient
•    It is cheaper
•    Monitor investments at any time
•    It eliminates middlemen brokers
•    Faster transactions
•    The investor has greater control over the investments
•    Better financial planning

[uncle gober]

training and learning will indeed be needed by traders, so it is important for traders to be able to take advantage of demo accounts and educational programs provided by Tickmill.

[Jo Eshuijs]

Forex is the most famous and profitable business. Anyone can start trading and earn a lot of money. Forex is the most difficult money-making machine if you have no enough knowledge. You should gain proper knowledge about the forex first. Without the proper knowledge, you can't survive in the forex market. There is no alternative way of proper knowledge. I trade with Forex4you. They are very helpful especially when someone is a new trader. I would easily suggest this broker if anyone looking for a reliable one.
 

[maspluto]

the selection of an existing broker must be able to be considered well, this is needed and necessary so that traders can be maximized in carrying out trading activities in accordance with expectations with Tickmill.

[David Meyers]

Online Trading like forex is easy to start. Anyone can start trading from anywhere. However, to become successful in this market is kind of challenging. 95% traders are losing money and quitting the market. Few are becoming successful. Knowledge is main element in here. So, try gain more knowledge. As for I am learning from Eurotrader ebook. It provides knowledge from entry to expert level.

[uncle gober]

achieving success in forex is not an easy matter, so it is important for traders to be better and be more maximal in carrying out trades that are in line with expectations while on a real account.

[Matheus Schotsman]

To develop passion for forex trading you need to learn first. People start trading just learning how to place a biy or sell order and close them. It's not learning. Leaning means to know how to make strategy and how to control your emotions while trading. Without learning you will not find passion because you will lose money. Broker is also important for trading. A licensed and regulated broker like Eurotrader is very important that provides amazing facilities to it's customer. 

[Ross Edwards]

Fundamental and technical are two different terms of trading analysis in Forex market. Some use fundamental and other use technical analysis in their platforms according to their broker’s services. I got these two-trading analytic support at TP Global FX broker. In Forex global market this is the only reliable broker that supports their clients by giving them necessary facilities. I get both fundamental and technical analytic facilities from them on their daily trade signal.
 

[maspluto]

the selection of an existing broker must be able to be considered properly, this is needed and necessary so that traders can be better and can be more maximal in carrying out trading activities in accordance with expectations with Tickmill.