Trading vs gambling 97 replies
Trading IS Gambling... 46 replies
Forex Trading or Gambling 21 replies
Similarities between CADJPY & USDJPY? 0 replies
trading or gambling? 14 replies
DislikedWhen approached as a business, trading, in my opinion, is as near to the perfect capitalistic business model as you can get. It eliminates all of the encumbrances of a business, and boils everything down directly to the money. This is even more true in Forex since we trade money itself.
So as a business, you must have a solid plan, with a method that has the ability to succeed in all types of conditions. And you as the CEO must run that business, not as a robot, but as a person who can acknowledge your strengths and weaknesses, and then play to...Ignored
DislikedThis.
With the hardest part being not changing your edge when you have a string of losers.
Being a professional gambler is cool and sexy, almost like a James Bond type..... When people think of traders, it's either pale programming nerds or fat, loud, pit monsters. That would be a difference.Ignored
DislikedI agree, well said.
Trading is just a business and can be a prudent speculative venture or gambling, depending on how you go about it.
Consider being a seller of apples. That is my business. If I take the trouble to assess the demand for apples among my customers, consider what I can charge, and then go the wholsealer and buy an appropriate quantity at an appropriate cost, I have the prudent expectation of making a speculative profit on trading those apples. No-one would consider me a gambler, just your local greengrocer.
But let's say I do...Ignored
DislikedYeh I probablly should have just written, "walking in the middle of the hill" (the hill representing, underlying sentiment, momentum). but i thought this was a musical kinda thread so just ran with the vid there.
I thought that was interesting, particularly what he said about empathy, that in order to play well you need to possess it, to understand how other people think. But at the same time after playing for a wile you lose empathy for people because in order to win, others must lose, and you can't really afford to give a sh*t (to be...Ignored
Disliked" kill or to be kill "
.
moral burden as well as a sense of guilt is often difficult to overcome
all about mindset
best regards
wIgnored
DislikedSome games somewhat mitigate the random aspect by including statistical analysis and skills at observing human behavior (blackjack, poker).Ignored
DislikedI don't see how it'd apply to trading. Those are social emotions, and you're one person vs. the faceless,inestimably big market, rendering most except, say, the cycle of market emotion's set, unanswerable. You may drag in anything, tho, depending on your individual make-up. I suppose, as noted, it's different when you directly face gambling opponents.Ignored
DislikedNo one has really hit the nail on the head here...
When you GAMBLE (say, place 10 chips on the inside of a roulette table), you are expected to lose money determined by the odds of the game. The odds in gambling are ALWAYS NEGATIVE, ALWAYS.
Let's say you want to randomly purchase positions on different currencies... the expectation is UNKNOWN. You are not expected to lose or win, it can go either way, and you can determine when to pull out...
There is no possible way to make money gambling, the more you gamble, the more you lose, THIS IS MATH....Ignored
DislikedNo one has really hit the nail on the head here...
When you GAMBLE (say, place 10 chips on the inside of a roulette table), you are expected to lose money determined by the odds of the game. The odds in gambling are ALWAYS NEGATIVE, ALWAYS.
Let's say you want to randomly purchase positions on different currencies... the expectation is UNKNOWN. You are not expected to lose or win, it can go either way, and you can determine when to pull out...
There is no possible way to make money gambling, the more you gamble, the more you lose, THIS...Ignored
DislikedThe richest person I know (not personally) bets on horses for a living, he belongs to a syndicate of 20 others, one of which bets 1 billion dollars a year (that's 4 million each working day) on horses. They use math to give themselves an edge in the horse racing/ gambling arena. They started back in the 80's counting cards. True story.
There are many different forms of gambling, perhaps trading is just another. But why did these men not choose Roulette to start their gambling business? Probably because they had no way of swinging the odds in their...Ignored
DislikedNo one has really hit the nail on the head here...
When you GAMBLE (say, place 10 chips on the inside of a roulette table), you are expected to lose money determined by the odds of the game. The odds in gambling are ALWAYS NEGATIVE, ALWAYS.
Let's say you want to randomly purchase positions on different currencies... the expectation is UNKNOWN. You are not expected to lose or win, it can go either way, and you can determine when to pull out...
There is no possible way to make money gambling, the more you gamble, the more you lose, THIS IS MATH....Ignored
BLACKJACK PLAYER TAKES TROPICANA
FOR NEARLY $6 MILLION,
SINGLE-HANDEDLY RUINS CASINO’S MONTH
Dislikedthis was posted on another thread but relevent here.its a question of reducing the odds,from a negative expectancy to positive,but still a bet,regardless of instruments
The Man Who Broke Atlantic City
Don Johnson won nearly $6 million playing blackjack in one night, single-handedly decimating the monthly revenue of Atlantic City’s Tropicana casino. Not long before that, he’d taken the Borgata for $5 million and Caesars for $4 million. Here’s how he did it.
on Johnson finds it hard to remember the exact cards. Who...Ignored