• Home
  • Forums
  • Trades
  • News
  • Calendar
  • Market
  • Brokers
  • Login
  • Join
  • User/Email: Password:
  • 12:03am
Menu
  • Forums
  • Trades
  • News
  • Calendar
  • Market
  • Brokers
  • Login
  • Join
  • 12:03am
Sister Sites
  • Metals Mine
  • Energy EXCH
  • Crypto Craft

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Printable Version

Similar Threads

Forex gambling? 83 replies

Is Forex really gambling 25 replies

Trading vs gambling 97 replies

Trading IS Gambling... 46 replies

trading or gambling? 14 replies

  • Trading Discussion
  • /
  • Reply to Thread
  • Subscribe
  • 5
Attachments: Are We All Gambling?
Exit Attachments

Are We All Gambling?

  • Last Post
  •  
  • 1 56Page 789 13
  • 1 6Page 78 13
  •  
  • Post #121
  • Quote
  • Feb 1, 2019 8:04am Feb 1, 2019 8:04am
  •  HeyYou
  • Joined Apr 2015 | Status: FX hater | 1,733 Posts
Quoting riclater211
Disliked
{quote} All those words mean the same thing. Just saying. - Ric
Ignored
I don't think so... yes there are words with the same meaning, but not the case..

https://www.quora.com/Whats-differen...g-and-gambling

https://www.investopedia.com/ask/ans...d-gambling.asp



ask buffett if he's gambling or investing.
2
  • Post #122
  • Quote
  • Feb 1, 2019 8:35am Feb 1, 2019 8:35am
  •  TEntropy
  • | Joined Dec 2018 | Status: Member | 51 Posts
Quoting HeyYou
Disliked
{quote} I don't think so... yes there are words with the same meaning, but not the case.. https://www.quora.com/Whats-differen...g-and-gambling https://www.investopedia.com/ask/ans...d-gambling.asp ask buffett if he's gambling or investing.
Ignored
From your Investopedia article:

Speculation: Speculation involves calculating risk and conducting research before entering a financial transaction. A speculator buys or sells assets in hopes of having a bigger potential gain than the amount he risks.

Gambling: Converse to speculation, gambling involves a game of chance.

I ask again, will someone please explain the mathematical difference between, buying an asset in hopes of having a potential gain, and buy in a round of a game in hopes to have a potential game?

Does one involve probabilistic outcomes and the other doesn't?

No.

--

From top Quora answer: While the term gambling refers to the act of placing wages on particular outcomes or events taking place while betting is the term used to refer to agreement between two parties where one party makes a prediction and loses or makes money if his prediction turns to be true.

I ask again, will some please explain the mathematical difference between placing a wager on a particular outcome and making an agreement between two parties where one party makes a prediction on a particular outcome and losses or makes money if his prediction turns out to be true?

Does one involve probabilistic outcomes and the other doesn't?

No.
  • Post #123
  • Quote
  • Feb 1, 2019 9:02am Feb 1, 2019 9:02am
  •  LDFX
  • Joined Jul 2012 | Status: Member | 970 Posts
Quoting TEntropy
Disliked
{quote} From your Investopedia article: Speculation: Speculation involves calculating risk and conducting research before entering a financial transaction. A speculator buys or sells assets in hopes of having a bigger potential gain than the amount he risks. Gambling: Converse to speculation, gambling involves a game of chance. I ask again, will someone please explain the mathematical difference between, buying an asset in hopes of having a potential gain, and buy in a round of a game in hopes to have a potential game? Does one involve probabilistic...
Ignored

It has all do with positive expectancy, which exist in trading (business) not in gambling (game of luck)
LDFX Trading Ltd
  • Post #124
  • Quote
  • Feb 1, 2019 9:03am Feb 1, 2019 9:03am
  •  LDFX
  • Joined Jul 2012 | Status: Member | 970 Posts
Quoting TEntropy
Disliked
{quote} From your Investopedia article: Speculation: Speculation involves calculating risk and conducting research before entering a financial transaction. A speculator buys or sells assets in hopes of having a bigger potential gain than the amount he risks. Gambling: Converse to speculation, gambling involves a game of chance. I ask again, will someone please explain the mathematical difference between, buying an asset in hopes of having a potential gain, and buy in a round of a game in hopes to have a potential game? Does one involve probabilistic...
Ignored
It is gonna be difficult now to contradict investopedia...
LDFX Trading Ltd
  • Post #125
  • Quote
  • Feb 1, 2019 9:05am Feb 1, 2019 9:05am
  •  LDFX
  • Joined Jul 2012 | Status: Member | 970 Posts
Quoting TEntropy
Disliked
{quote} From your Investopedia article: Speculation: Speculation involves calculating risk and conducting research before entering a financial transaction. A speculator buys or sells assets in hopes of having a bigger potential gain than the amount he risks. Gambling: Converse to speculation, gambling involves a game of chance. I ask again, will someone please explain the mathematical difference between, buying an asset in hopes of having a potential gain, and buy in a round of a game in hopes to have a potential game? Does one involve probabilistic...
Ignored
Something with a probabilistic outcome does not make it necessarily gambling, as the article of investopedia says.
LDFX Trading Ltd
1
  • Post #126
  • Quote
  • Feb 1, 2019 9:07am Feb 1, 2019 9:07am
  •  TEntropy
  • | Joined Dec 2018 | Status: Member | 51 Posts
Quoting LDFX
Disliked
{quote} Something with a probabilistic outcome does not make it necessarily gambling, as the article of investopedia says.
Ignored
Please quote the article where it says this. The only difference explicitly stated in the article is the degree of risk, however, the changing in degree of risk does not change the fact that you are waging/betting money on an "uncertain outcome" (according to the article).

Quoting LDFX
Disliked
{quote} It has all do with positive expectancy, which exist in trading (business) not in gambling (game of luck)
Ignored
This is not explicitly stated in either link and also, having a positive expectancy does not guarantee a profit, hence you are still taking a gamble.
  • Post #127
  • Quote
  • Feb 1, 2019 9:08am Feb 1, 2019 9:08am
  •  LDFX
  • Joined Jul 2012 | Status: Member | 970 Posts
Definition of gambling (source investopedia)

»
Gambling
Converse to speculation, gambling involves a game of chance. Generally, the odds are stacked against gamblers. When gambling, the probability of losing an investment is usually higher than the probability of winning more than the investment. In comparison to speculation, gambling has a high risk of losing the investment.
For example, a gambler opts to play a game of American roulette instead of speculating in the stock market. The gambler only places his bets on single numbers. However, the payout is only 35 to 1, while the odds against him winning are 37 to 1. So if he bets $2 on a single number, his potential gambling income is $70 (35*$2) but the odds of him winning is approximately 1/37. »

It says it all...
LDFX Trading Ltd
  • Post #128
  • Quote
  • Feb 1, 2019 9:14am Feb 1, 2019 9:14am
  •  TEntropy
  • | Joined Dec 2018 | Status: Member | 51 Posts
Quoting LDFX
Disliked
Definition of gambling (source investopedia) » Gambling Converse to speculation, gambling involves a game of chance. Generally, the odds are stacked against gamblers. When gambling, the probability of losing an investment is usually higher than the probability of winning more than the investment. In comparison to speculation, gambling has a high risk of losing the investment. For example, a gambler opts to play a game of American roulette instead of speculating in the stock market. The gambler only places his bets on single numbers. However, the...
Ignored
This leads back to what everyone who has mentioned this has failed to do.

What is mathematically different from a game of chance and betting on uncertain outcomes?

Also, you can create the exact same odds quoted in that definition in fx. For example, risk 1 pip to make 37 pips with a two-pip spread.
  • Post #129
  • Quote
  • Feb 1, 2019 9:14am Feb 1, 2019 9:14am
  •  LanaBanana
  • | Joined Jan 2019 | Status: Member | 95 Posts
I think we are gambling in some way. Of course, there are techniques and tactics but there is always some space for a chance or an unforeseen event to happen. Would be glad to hear some explanations from those who voted for "not gambling".
  • Post #130
  • Quote
  • Feb 1, 2019 9:17am Feb 1, 2019 9:17am
  •  LDFX
  • Joined Jul 2012 | Status: Member | 970 Posts
Quoting TEntropy
Disliked
{quote} Please quote the article where it says this. The only difference explicitly stated in the article is the degree of risk, however, the changing in degree of risk does not change the fact that you are waging/betting money on an "uncertain outcome" (according to the article). {quote} This is not explicitly stated in either link and also, having a positive expectancy does not guarantee a profit, hence you are still taking a gamble.
Ignored

« Gambling refers to wagering money in an event that has an uncertain outcome in hopes of winning more money, whereas speculation involves taking a calculated risk in an uncertain outcome. »

You do not believe what the article says and do not believe me if it is not in the article...

Having a positive expectancy does not make it gamble because the odds are in your favor and it is not about luck, in opposite to gambling.
LDFX Trading Ltd
  • Post #131
  • Quote
  • Feb 1, 2019 9:19am Feb 1, 2019 9:19am
  •  LDFX
  • Joined Jul 2012 | Status: Member | 970 Posts
Quoting TEntropy
Disliked
{quote} This leads back to what everyone who has mentioned this has failed to do. What is mathematically different from a game of chance and betting on uncertain outcomes? Also, you can create the exact same odds quoted in that definition in fx. For example, risk 1 pip to make 37 pips with a two-pip spread.
Ignored

Yes, then they are gambling, I am sure there is a looooot that are gambling in forex, negative expectancy, luck, etc...
LDFX Trading Ltd
  • Post #132
  • Quote
  • Feb 1, 2019 9:19am Feb 1, 2019 9:19am
  •  nadiyakinare
  • Joined Dec 2014 | Status: Free Member | 358 Posts
yes we all humans are gambling because only humans have feeling of free will, all other life forms (including angels, demons and all gods) live on their instinct and environmental conditioning . for example you can imagine how a tree might feel because its just standing on one place and all world moving around it that how life forms feel when they have no free will.
In the court of lord, only love and devotion is counted...
1
  • Post #133
  • Quote
  • Feb 1, 2019 9:21am Feb 1, 2019 9:21am
  •  HeyYou
  • Joined Apr 2015 | Status: FX hater | 1,733 Posts
in any case I thank TEntropy for the interesting subject... sorry if I ignored you bad habit
  • Post #134
  • Quote
  • Feb 1, 2019 9:21am Feb 1, 2019 9:21am
  •  OnlineAddict
  • Joined May 2014 | Status: Veteran | 7,529 Posts
Everything you do in life is gambling. You gamble when you leave your bed in the morning, when you enter the bathroom, when you eat or drink something, when you leave the house, and the endless list goes on. Forex is business like any other...most people can't do it, just like they couldn't run any other business. Its not harder or easier, its just a business.
If less is more, just think how much more more will be.
  • Post #135
  • Quote
  • Feb 1, 2019 9:21am Feb 1, 2019 9:21am
  •  TEntropy
  • | Joined Dec 2018 | Status: Member | 51 Posts
Quoting LDFX
Disliked
{quote} « Gambling refers to wagering money in an event that has an uncertain outcome in hopes of winning more money, whereas speculation involves taking a calculated risk in an uncertain outcome. » You do not believe what the article says and do not believe me if it is not in the article... Having a positive expectancy does not make it gamble because the odds are in your favor and it is not about luck, in opposite to gambling.
Ignored
Again, we can agree to disagree because, in my opinion, you have no clue how probabilities work. You can still lose with an edge. Casinos have gone bankrupt even though they always had the edge by making bad bets.

There is no mathematical difference between an uncertain outcome simply because of your individual actions before placing a wager on what the uncertain outcome will be.

If you believe this, rationally it would make sense to think flushing my toilet 3 times will somehow affect the outcome of a coin toss, or dice roll, or trading day... But that doesn't make sense because your belief is wrong.
  • Post #136
  • Quote
  • Edited at 9:36am Feb 1, 2019 9:22am | Edited at 9:36am
  •  LDFX
  • Joined Jul 2012 | Status: Member | 970 Posts
Quoting HeyYou
Disliked
in any case I thank TEntropy for the interesting subject... sorry if I ignored you bad habit
Ignored

I agree, even we strongly disagreed it was an interesting talk / debate, each defending our opinions with arguments in a respectful manner.
LDFX Trading Ltd
1
  • Post #137
  • Quote
  • Feb 1, 2019 9:27am Feb 1, 2019 9:27am
  •  LDFX
  • Joined Jul 2012 | Status: Member | 970 Posts
Quoting TEntropy
Disliked
{quote} Again, we can agree to disagree because, in my opinion, you have no clue how probabilities work. You can still lose with an edge. Casinos have gone bankrupt even though they always had the edge by making bad bets. There is no mathematical difference between an uncertain outcome simply because of your individual actions before placing a wager on what the uncertain outcome will be. If you believe this, rationally it would make sense to think flushing my toilet 3 times will somehow affect the outcome of a coin toss, or dice roll, or trading...
Ignored

The fact that you can lose in Trading even with a positive expectancy does not make it gambling.

The difference is the positive expectancy and that it is not entirely luck.
LDFX Trading Ltd
  • Post #138
  • Quote
  • Feb 1, 2019 9:31am Feb 1, 2019 9:31am
  •  TEntropy
  • | Joined Dec 2018 | Status: Member | 51 Posts
Quoting LDFX
Disliked
{quote} The fact that you can lose in Trading even with a positive expectancy does not make it gambling. The difference is the positive expectancy and that it is not entirely luck.
Ignored
My final response to you since we have both agreed to disagree and have had a very nice debate on this issue.

If it wasn't gambling because you have an edge, there would be no bet a casino shouldn't take as long as they have the fund to match the bet, but this is not the case, because if they take too large of a bet, they can blow up, because they are waging money on an uncertain outcome, a game of chance, luck, a probabilistic outcome, etc...

Thanks again for the convo, it has been a pleasure!
2
  • Post #139
  • Quote
  • Feb 1, 2019 9:38am Feb 1, 2019 9:38am
  •  LDFX
  • Joined Jul 2012 | Status: Member | 970 Posts
Quoting TEntropy
Disliked
{quote} My final response to you since we have both agreed to disagree and have had a very nice debate on this issue. If it wasn't gambling because you have an edge, there would be no bet a casino shouldn't take as long as they have the fund to match the bet, but this is not the case, because if they take too large of a bet, they can blow up, because they are waging money on an uncertain outcome, a game of chance, luck, a probabilistic outcome, etc... Thanks again for the convo, it has been a pleasure!
Ignored

We do same as the casino in trading, money management, in order to have a positive expectancy.

yes cheers , see you around FF.
LDFX Trading Ltd
  • Post #140
  • Quote
  • Feb 1, 2019 9:47am Feb 1, 2019 9:47am
  •  9jatrader
  • Joined Mar 2016 | Status: Member | 5,700 Posts
Quoting HeyYou
Disliked
I bet the NO will winn {image}
Ignored
It doesn't matter whether the "no" win, our life generally is all about gambling. Your parents spend a lot of money going through you school, even to having University certificate. You come home, years without job or even the job you call job can't take care of your expenses. Your parents gambled with their money on you.
We gamble everyday without knowing that we gamble
Lose and make all possible mistakes in demo and rain in pips in live acct
9jatrader All Time Profit: $1,609
1
  • Trading Discussion
  • /
  • Are We All Gambling?
  • Reply to Thread
    • 1 56Page 789 13
    • 1 6Page 78 13
0 traders viewing now
  • More
Top of Page
  • Facebook
  • Twitter
About FF
  • Mission
  • Products
  • User Guide
  • Media Kit
  • Blog
  • Contact
FF Products
  • Forums
  • Trades
  • Calendar
  • News
  • Market
  • Brokers
  • Trade Explorer
FF Website
  • Homepage
  • Search
  • Members
  • Report a Bug
Follow FF
  • Facebook
  • Twitter

FF Sister Sites:

  • Metals Mine
  • Energy EXCH
  • Crypto Craft

Forex Factory® is a brand of Fair Economy, Inc.

Terms of Service / ©2021