Can a Christian Trade Forex?
Someone argued that in Forex trading, one can only win at the expense of another and hence, it is no difference from gambling and it is unproductive and wrong to do so.
Lets begin with the statement of "one can only win at the expense of another"
Would you not apply for a job knowing that if you succeed,
other applicants will not?
Moreover, in trading (not gambling),
losers lose, not because another trader took from them and winners win, not
because they took from a losing trader.
The fact is that the buying and selling of currencies is no difference from the trading of goods which we try to buy at a lower price and sell them off at a higher price to make a profit.
...you make profit
a dirty word, Singapore dies...
What about "it is no difference from gambling and it is unproductive and wrong to do so".
The difference between the Casino and the Forex market is that, most are
games of chance in the Casino while
it is about economy and a contest of strategy for the
Another good way to differentiate trading
from gambling is this:
Hence, a prudent trader is more like
an astute businessman or for that matter anyone who has the seriousness to make
and control buying/selling
Forex trading is an essential economic activity.The Forex market facilitates the proper functioning of global trades and market participants including spot traders contribute to the liquidity for the exchanges of currencies.
International business transactions where currencies are required to be swapped will not be possible without the existence of an active FOReign EXchange market.
While Forex trading is a zero sum game where the total gains must equal all the losses, it is also subjective because there are instances where a trader's gain need not arise from the loss of another trader.
For example Trader I bought from
Trader U, Singapore dollars and sold the S$ later for a profit after the S$ has
appreciated in value.
Is it wrong to trade?A stricter interpretation of the Holy Bible's 8th. Commandment "You shall not steal" should include activities that cheat or harm to enrich oneself.
Like any other legitimate businesses or professions whose goals are to make a profit for ourselves, trading is definitely not dishonest as we are not out to swindle others and not harmful if we don't treat it like gambling.
It is also unreasonable to approve the trading for profit of traditional goods and services but disapprove the trading of currencies, stocks and properties etc.
In the Parable of the Talents (Matthew 25:14-30; Luke 19:12-28), we are to
make good use of our God given abilities/money to achieve a positive return on
our investment of time and resources.
Failing to do so will incur God's wrath.
Due to its low cost of entry as compared to traditional businesses which require high capital and on-going expenditures, the spot Forex market offers a viable option to the retrenched/retired to learn a valuable skill and make better use of their money to work for them instead of them working for the money.
Some of us who are astute in Forex trading can also choose it as a respectable profession to make a sustainable living out of this $5 trillion a day economic activity.
In short, trading is a viable way to grow our wealth. Its goal is similar to investing in properties, stocks etc. or entrusting our money in the hands of fund managers to make better use of our spare cash.
Does financial trading serve any useful purpose, or are
traders just parasites?
In conclusion, there is nothing
wrong with Forex trading if we treat the
Forex market like any other market
places where opportunities can be seized and risks can be mitigated.
It's also my hope and prayer that through my trading and programming skills, I can be a blessing to others.