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Are We All Gambling?

  • #41
  • Jan 31, 2019 10:04am Jan 31, 2019 10:04am
Quoting fx75
{quote} when u buy something then sell it for profit that's tradings and it's a business example u buy horses and then sell them at a higher price u just bet on a horse that's gonna win the race! feel the difference ??! so successful traders are successful traders!
I also think you are missing the forest for the trees.

Just because you buy a horse, does not guarantee someone will see enough value in it to purchase it for more than you bought it for.

I completely understand buying a horse is more tangible than betting on one, but the result of either decision is based on a probabilistic outcome.
  • #42
  • Jan 31, 2019 10:18am Jan 31, 2019 10:18am
Those who don't believe they are gambling, admit it to yourself. It will make things a lot easier.
  • #43
  • Jan 31, 2019 10:21am Jan 31, 2019 10:21am
Quoting TEntropy
{quote} I think you are missing the forest for the trees. Any outcome from choosing 8 instead of 13, regardless of the reason you chose it, would be determined by the game, not by you. Any outcome from choosing to sell at 1.14 or buy at 1.13, regardless of the reason you chose it, would be determined by the market, not you.

Again, I never said anything about outcome.

On a game of luck, no matter the outcome, your decision can only be based on luck, why choosing 8 instead of 13 ?

on forex, no matter the outcome, you’re decision will be based on technical and / or fundamentals, why buying usd instead of euro ?

And there is all the difference between gambling and trading.

Some just buy usd like you would choose the 13 on a roulette, then they are gambling with forex.
LDFX Trading Ltd
  • #44
  • Jan 31, 2019 10:23am Jan 31, 2019 10:23am
Quoting OutThere
Those who don't believe they are gambling, admit it to yourself. It will make things a lot easier.

What things will be easier ?
LDFX Trading Ltd
  • #45
  • Jan 31, 2019 10:24am Jan 31, 2019 10:24am
Quoting LDFX
{quote} Again, I never said anything about outcome. On a game of luck, no matter the outcome, your decision can only be based on luck, why choosing 8 instead of 13 ? on forex, no matter the outcome, you’re deci will be based on technical and / or fundamentals, why buying usd instead of euro ? And there is all the difference between gambling and trading.

I am not trying to be snarky, but again, this logic does not hold up. Replace buying USD with betting black and EUR with red. There is no difference at all.
  • #46
  • Jan 31, 2019 10:25am Jan 31, 2019 10:25am
when you gamble you hope to win.... hope is all you have lol So obviously no.

The more you risk per trade the more it gets close to gambling because a big series of losses can happen at any time.
  • #47
  • Jan 31, 2019 10:25am Jan 31, 2019 10:25am
Here in the UK, spread betting, which is what I and many here do, is classed as gambling by the Inland Revenue, same as any gambling pursuit such as poker or horse racing, and as winnings accrued from gambling are tax free, I am very happy to be classed as a gambler.
  • #48
  • Jan 31, 2019 10:28am Jan 31, 2019 10:28am
Quoting TEntropy
{quote} but the result of either decision is based on a probabilistic outcome.
yes, it's probability and nothing is a guarantee
but... u buy the horse coz u know the market and have the knowledge about it
but when u bet... we can't say its the same!
  • #49
  • Jan 31, 2019 10:29am Jan 31, 2019 10:29am
Quoting TEntropy
{quote} I am not trying to be snarky, but again, this logic does not hold up. Replace buying USD with betting black and EUR with red. There is no difference at all.

Exactly, unless it is based on technical and / or fundamentals.
LDFX Trading Ltd
  • #50
  • Jan 31, 2019 10:32am Jan 31, 2019 10:32am
Quoting HeyYou
when you gamble you hope to win.... hope is all you have lol So obviously no. The more you risk per trade the more it gets close to gambling because a big series of losses can happen at any time.
I used to trade with no sl... that's veeery close to gambling indeed.
  • #51
  • Jan 31, 2019 10:33am Jan 31, 2019 10:33am
All the banks do trading, right ?

how many banks allocate funds in gambling ?
LDFX Trading Ltd
  • #52
  • Jan 31, 2019 10:35am Jan 31, 2019 10:35am
Quoting LDFX
{quote} What things will be easier ?
It will make taking losses easier and if you make money, the realization that you pocketed some chips off the table without rendering a service or producing a product makes you understand where you are coming from.
A casino gambler can say they are running a business too and there are certainly professional gamblers but they know they are gamblers.
  • #53
  • Jan 31, 2019 10:39am Jan 31, 2019 10:39am
ok ...END OF DISCUSSION guysss....and for person who ask this nonsense question can close this trading discussion forum...find other topic that will make everybody super excited to discuss...not this type of question,so bowwwwringgggg...better discuss how to make profit rather than this bullshit topic...i suggest everbody who read this,run from this discussion forummmmm..ignored the poll vote....WHO CARES GAMBLING OR NOT...
Know The Presence Of The Market
  • #54
  • Jan 31, 2019 10:40am Jan 31, 2019 10:40am
Quoting OutThere
{quote} It will make taking losses easier and if you make money, the realization that you pocketed some chips off the table without rendering a service or producing a product makes you understand where you are coming from. A casino gambler can say they are running a business too and there are certainly professional gamblers but they know they are gamblers.

I still do not see how it would make taking losses / wins easier.

Trading is a service, without traders the cost of exchange would be very high and instant liquidity would not exist, I get paid for that.
LDFX Trading Ltd
  • #55
  • Jan 31, 2019 10:49am Jan 31, 2019 10:49am
Quoting LDFX
{quote} I still do not see how it would make taking losses / wins easier. Trading is a service, without traders the cost of exchange would be very high and instant liquidity would not exist, I get paid for that.
Sure. A casino gambler could say that without their gambling, the cost of food and drinks at the casino would be a lot higher and their spending of money is keeping a lot of people employed. Yet they know they are gamblers.
A gambler in denial is still a gambler.
  • #56
  • Jan 31, 2019 10:52am Jan 31, 2019 10:52am
It makes it simpler to accept losses because you tell yourself that you took a chance, gambled and lost and that is the nature of the game. If not, then when in loss, you have to question your intelligence and business acumen for making such horrid decisions that in the hindsight were so obviously wrong decisions.
If you don't make mistakes, then by all means, call yourself a shrewd businessman.
  • #57
  • Jan 31, 2019 11:01am Jan 31, 2019 11:01am
Quoting OutThere
{quote} Sure. A casino gambler could say that without their gambling, the cost of food and drinks at the casino would be a lot higher and their spending of money is keeping a lot of people employed. Yet they know they are gamblers. A gambler in denial is still a gambler.

Then it would not be a casino anymore but a restaurant / bar, your argument does not make any sens.

Well I am a trader and there is no denial about that.
LDFX Trading Ltd
  • #58
  • Jan 31, 2019 11:04am Jan 31, 2019 11:04am
Quoting OutThere
It makes it simpler to accept losses because you tell yourself that you took a chance, gambled and lost and that is the nature of the game. If not, then when in loss, you have to question your intelligence and business acumen for making such horrid decisions that in the hindsight were so obviously wrong decisions. If you don't make mistakes, then by all means, call yourself a shrewd businessman.

Again, that does not make any sens.

Actually the opposite is true, you would take loss easier if you think you are not gambling because it will make you confident on your ability to make money.

Being wrong is part of the business, I have no problem at all taking losses.

Also, I quote “If you don't make mistakes, then by all means, call yourself a shrewd businessman.” What mistakes could you possibly do in gambling other than gambling ?
LDFX Trading Ltd
  • #59
  • Jan 31, 2019 11:28am Jan 31, 2019 11:28am
No. We are trading, but most of us are lousy traders.


Trading:

  1. the act or process of buying, selling, or exchanging commodities, at either wholesale or retail.

  1. the act of buying, selling, or exchanging stocks, bonds, or currency.

No guts, no glory
  • #60
  • Jan 31, 2019 11:31am Jan 31, 2019 11:31am
Quoting fx75
{quote} yes, it's probability and nothing is a guarantee but... u buy the horse coz u know the market and have the knowledge about it but when u bet... we can't say its the same!

Probabilities are always 50/50. but that doesn't mean I'm gambling.

as a system trader I assume that what worked in the past might work in the future. it's kinda like an experiment. stats says it's possible ... so I'm faithful.
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