Yep, it's immoral. We're all going to hell. I hope it isn't run by Refco!
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DislikedThere is a lot about economics in the Islamic sources, especially pertaining to trade and so I know there is guidance even in these matters. Scholars that I trust have said that Forex is valid as long as one does not take or give interest and as long as it is spot (not futures), and this verdict is enough for me to trade Forex with a clear conscience.Ignored
DislikedI'm looking for +EV. Whether it be 4 to 1 pot odds while I have 15 outs to the nuts, a dog that should be 2 to 1 but I'm getting 2.75 to 1, or buying on a dip at 50% retracement. It makes no difference to me.
The stated % of successful sportsbetters, poker players, and traders over the long term is about the same across all 3 activities--hmmmmm wonder why?
The reality is gambling is binary. It's 1 or 0. If the return is not guaranteed 100% of the time then it's in fact a gamble. You flip a coin, and I bet a $1 each flip. Tails you take my $1, heads you pay me $1.05. Doesn't matter my +EV, I'm gambling with each flip.
Good gamblers\traders make adjustments and adapt.
The only reason I started trading was that my government took (is taking) away my ability to gamble online. It was part time job for a lot of people.
Ok , cool I'll play another game for money one that you say is "legal"- trading.
I'll adapt, take my ability to identify +EV to another arena because it makes no difference to me. I'm not married to poker, sportsbetting, or trading. I'm married to +EV.
The only reason I've been successful in this business to this point is my ability to gamble properly. The psychology of a seasoned gambler bolds well in this business.
One could argue that if you are not hedging, then trading is more of a gamble than playing limit poker. In limit poker I know what the return is, I know specifically the odds of the event happening and the amount risked. Thus my +EV positively defined.
In trading, you don't know what the odds are of the trade going your way or the odds of hitting your profit target(the odds of the event happening) . The value(+EV) you associate with the trade is perceived.
Yes, I know the trade can only go up or down --50\50 on the elementary level- if you want to go that route. Well, either team A or team B has to win so the same 50\50 in sportsbetting right?, but sportsbetting is gambling? It's all gambling.
Funny, tell someone you are a private investor and they ask you what do you invest in, what type of investments?
Tell them you invest in Home Dogs in the NFL and they will look at you like you are a degenerate.
Tell them you invest in Kings and Aces. Again, they will look at you in a negative light.
Tell them you invest in futures, show them tradestation or some charting package with a bunch of worthless indicators and they look at you like you are smart.
Mass confusion, caused by vast illusion.Ignored
DislikedMy church is very much opposed to gambling.
There are a number of members who trade the markets- Including my minister.
I have had several discussions with him about this hypocrisy. (No, I don't use the word "hypocrisy")
Trading is gambling- period.Ignored
DislikedUnless you have a 100% win rate, each trade you make has an uncertain outcome.Ignored
Dislikedtrue...but looking at the next 100 trades, the outcome becomes more certain. which is not gambling.
also, by your interpretation, casinos would be considered gamblers, and clearly they are not:Ignored
Dislikedtrue...but looking at the next 100 trades, the outcome becomes more certain. which is not gambling.
also, by your interpretation, casinos would be considered gamblers, and clearly they are not:Ignored
DislikedOne spin on red or black for 200 billion, would they take that bet? Doubt it, too much at stake and no +EV on one spin.Ignored
Dislikedand would a trader make that bet? of course not
so we all agree, each bet is considered a gamble, no matter if made by trader or casino. but over time, it is not a gamble...its a business. traders and casinos play over long periods of time, not a single bet, so both are not gamblers.
what really makes someone a gambler is if they play without an edge. so yes, trading CAN be gambling, like when a novice trades with no edge. just like a casino could be considered a gambler if they dont have an edge. but when you get down to the real traders, and the real casinos, niether are gambling.Ignored