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-   -   Are We All Gambling? (https://www.forexfactory.com/showthread.php?t=876969)

TEntropy Jan 31, 2019 8:41am | Post# 1

Are We All Gambling?
 
Looking to take a poll of the traders on here.

What does gambling mean to you and are we as traders doing it?

Does betting on anything probabilistic equate to gambling?

Is it only gambling if you have a negative expectancy like playing roulette? If so, is the counter-part to your bet (the casino) not gambling?

The dictionary definition of gambling is:
1. the activity or practice of playing at a game of chance for money or other stakes.

Do you agree with this?

jesxrussel Jan 31, 2019 8:50am | Post# 2

what mindset do you have here??and what type of question of this...???

TEntropy Jan 31, 2019 8:54am | Post# 3

what mindset do you have here??and what type of question of this...???
It's pretty simple, I am just asking, what do you as a trader consider gambling as a whole, not specifically related to trading, and are you doing that?

hilmy83 Jan 31, 2019 8:59am | Post# 4

Definition of gamble
(Entry 1 of 2)
intransitive verb
1a: to play a game for money or property
b: to bet on an uncertain outcome
2: to stake something on a contingency (see CONTINGENCY sense 1) : take a chance
transitive verb
1: to risk by gambling : WAGER
2: VENTURE, HAZARD
gamble
noun
Definition of gamble (Entry 2 of 2)
1a: an act having an element of risk
b: something chancy

All traders are gamblers..

anyone who says they're not gambling are either delusional or doesn't understand english

TEntropy Jan 31, 2019 9:04am | Post# 5

Definition of gamble (Entry 1 of 2) intransitive verb 1a: to play a game for money or property b: to bet on an uncertain outcome 2: to stake something on a contingency (see CONTINGENCY sense 1) : take a chance transitive verb 1: to risk by gambling : WAGER...
I agree with you. I would extend it further, and say that every decision you make is a form of gambling. The only reason you act or make any actions in life is that you think there is a chance to be in a better place as a result of that action, relative to some point in the past.

A lot of people try to create an illusion of control though by pretending there is a difference between what they are doing, and gambling in order to create a fsensesince of certainty in their lives.

jesxrussel Jan 31, 2019 9:05am | Post# 6

Definition of gamble (Entry 1 of 2) intransitive verb 1a: to play a game for money or property b: to bet on an uncertain outcome 2: to stake something on a contingency (see CONTINGENCY sense 1) : take a chance transitive verb 1: to risk by gambling : WAGER...
if u wanna win in any games...u must have a strategy to beat the enemy.
in fx,u must study the technical and fundamental analysis and etc...to win...
did gamble need any strategy to win??or just depends on LUCK????

TEntropy Jan 31, 2019 9:08am | Post# 7

{quote} if u wanna win in any games...u must have a strategy to beat the enemy. in fx,u must study the technical and fundamental analysis and etc...to win... did gamble need any strategy to win??or just depends on LUCK????
I'm not 100% sure in what you are saying here, but I believe you are essentially saying, if you have an edge, it's not gambling.

If this is what you are implying/saying, I'd argue this logic is flawed though.

Even though casinos have the edge, they still can only take certain bets, which is why table limits are imposed. If they were not gambling, they would not have a need for table limits, since they are not taking a probabilistic chance to gain a favorable outcome.

jesxrussel Jan 31, 2019 9:12am | Post# 8

{quote} I agree with you. I would extend it further, and say that every decision you make is a form of gambling. The only reason you act or make any actions in life is that you think there is a chance to be in a better place as a result of that action, relative to some point in the past. A lot of people try to create an illusion of control though by pretending there is a difference between what they are doing, and gambling in order to create a fsensesince of certainty in their lives.
i think you should stop trading...and focus playing blackjack,roulette,laplapfu or anytype of gambling games...very easy,no need to study..just depends on luck

fx75 Jan 31, 2019 9:15am | Post# 9

no!
trading is a business.. if you know what you are doing.. and you are profitable coz of that!
on another side its sort of gambling when you don't know what you are doing and you just do it for fun!

TEntropy Jan 31, 2019 9:16am | Post# 10

{quote} i think you should stop trading...and focus playing blackjack,roulette,laplapfu or anytype of gambling games...very easy,no need to study..just depends on luck
So I assume it's safe to mark you down as a no? Please vote in the poll.

LDFX Jan 31, 2019 9:34am | Post# 11

Definition of gamble (Entry 1 of 2) intransitive verb 1a: to play a game for money or property b: to bet on an uncertain outcome 2: to stake something on a contingency (see CONTINGENCY sense 1) : take a chance transitive verb 1: to risk by gambling : WAGER...

If I open a business, say a restaurant, would that be gambling ?

TEntropy Jan 31, 2019 9:45am | Post# 12

{quote} If I open a business, say a restaurant, would that be gambling ?
I would say you definitely are. You are taking a huge six-figure gamble. You are betting on the probability that people will like your food enough to buy enough food to not only cover the cost of providing the food and service, but also make enough profit to make worthwhile to the shareholder(s).

LDFX Jan 31, 2019 9:47am | Post# 13

Looking to take a poll of the traders on here. What does gambling mean to you and are we as traders doing it? Does betting on anything probabilistic equate to gambling? Is it only gambling if you have a negative expectancy like playing roulette? If so, is the counter-part to your bet (the casino) not gambling? The dictionary definition of gambling is: 1. the activity or practice of playing at a game of chance for money or other stakes. Do you agree with this?

I voted no.

For me it all depends how you see the market, if you take it as a game then no doubt you are gambling, if you take it as a business then not.

Gambling is about games of luck.

prophetfx Jan 31, 2019 9:48am | Post# 14

if you think trading is gambling then you are yet to learn lot of things in trading.

LDFX Jan 31, 2019 9:49am | Post# 15

{quote} I would say you definitely are. You are taking a huge six-figure gamble. You are betting on the probability that people will like your food enough to buy enough food to not only cover the cost of providing the food and service, but also make enough profit to make worthwhile to the shareholder(s).
I totally disagree.

There is of course a part of bet but it is certainly not gambling.

What about the work you can put in your restaurant? What about the years of practice as a cook ? Etc...


A good example is that banks/shareholders might lend you the money to open a restaurant, would they for you to go play in casino ?

Gambling is about games of luck.

tush1822 Jan 31, 2019 9:52am | Post# 16

Since long I am learning a scientific way of trading. only one thing in mind not to Gamble!!!

TEntropy Jan 31, 2019 9:55am | Post# 17

{quote} I voted no. For me it all depends how you see the market, if you take it as a game then no doubt you are gambling, if you take it as a business then not. Gambling is about games of luck.
Very interesting...

Correct me if I am wrong, but, what are you saying is, how you observe or see your actions determines whether they have probabilistic outcomes or not?

{quote} I totally disagree. There is of course a part of bet but it is certainly not gambling. What about the work you can put in your restaurant? What about the years of practice as a cook ? Etc... Gambling is about games of luck.
Do you mind elaborating what is the difference between luck, chance, and probabilistic outcomes??

TEntropy Jan 31, 2019 9:56am | Post# 18

if you think trading is gambling then you are yet to learn lot of things in trading.
Do you mind fleshing out the difference between gambling and taking chances on probabilistic outcomes?

prophetfx Jan 31, 2019 10:00am | Post# 19

{quote} Do you mind fleshing out the difference between gambling and taking chances on probabilistic outcomes?
Gambling is random and you cant control (whatsoever) about the out come, you cant even analyze it because its just cards which are spade randomly.

Trading has many tools which can give you analysis and you can trade small or micro to save your account.

LDFX Jan 31, 2019 10:04am | Post# 20

{quote} Very interesting... Correct me if I am wrong, but, what are you saying is, how you observe or see your actions determines whether they have probabilistic outcomes or not? {quote} Do you mind elaborating what is the difference between luck, chance, and probabilistic outcomes??
Not at all, I never said that. Read again instead of snuking what you want to believe.

I won’t begin to disert about philosophy. Luck, chance and probabilities are in all aspect of life, that doesn’t mean it is gambling.


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