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Are We All Gambling?

  • #61
  • Jan 31, 2019 11:33am Jan 31, 2019 11:33am
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.
for you maybe.
No guts, no glory
  • #62
  • Jan 31, 2019 11:53am Jan 31, 2019 11:53am
Quoting LDFX
{quote} If I open a business, say a restaurant, would that be gambling ?
yes.

do you not understand the meaning of "betting on uncertain outcome"?

please tell me a business where you have 100% certainty of its success.

People confused the context of gambling with definition

By DEFINITION, you are gambling,

in context..you can argue you're not since gambling is usually associated with casinos or negative expectancy outcome.
  • #63
  • Jan 31, 2019 11:56am Jan 31, 2019 11:56am
Quoting hilmy83
{quote} yes. do you not understand the meaning of "betting on uncertain outcome"? please tell me a business where you have 100% certainty of its success

Lol, so if a business has a 100% certainty then and only then would it not be gambling ? Are you serious dude ?

You are confused with the meaning.

Gambling is an activity that is based upon chance or luck and has nothing to do with the skills of a person.
LDFX Trading Ltd
  • #64
  • Jan 31, 2019 12:02pm Jan 31, 2019 12:02pm
Quoting LDFX
{quote} Lol, so if a business has a 100% certainty then and only then would it not be gambling ? Are you serious dude ? You are confused with the meaning.
your post is equivalent to you saying "the earth is a cube"..

i really don't know how to respond to you.
  • #65
  • Jan 31, 2019 12:04pm Jan 31, 2019 12:04pm
Quoting hilmy83
{quote} your post is equivalent to you saying "the earth is a cube".. i really don't know how to respond to you.

LDFX Trading Ltd
  • #66
  • Jan 31, 2019 12:43pm Jan 31, 2019 12:43pm
Quoting LDFX
{quote} Exactly, unless it is based on technical and / or fundamentals.
You can create TA on a chart drawn with roulette outcomes. You probably couldn't even tell the difference between a chart drawn with roulette wheel outcomes and renko bar chart drawn with a currency price. You can also analyze the fundamental behaviors of a roulette wheel...


Quoting abokwaik
{quote} for you maybe.
Logically, and empirically there are no actual differences, in that you are making a decision on a probabilistic outcome.
  • #67
  • Jan 31, 2019 12:45pm Jan 31, 2019 12:45pm
Quoting LDFX
{quote} Lol, so if a business has a 100% certainty then and only then would it not be gambling ? Are you serious dude ? You are confused with the meaning. Gambling is an activity that is based upon chance or luck and has nothing to do with the skills of a person.
Yes, if it had a 100% chance of success, it would not be gambling since the outcome would not be probabilistic at that point, it would be certain.
  • #68
  • Jan 31, 2019 12:46pm Jan 31, 2019 12:46pm
Gambling with an edge on your side.

Did you know that the casino is the biggest gambler in the world? It's also, the richest one.

*EDGE*
Invest in alarm clocks
  • #69
  • Jan 31, 2019 12:50pm Jan 31, 2019 12:50pm
Quoting Tony112
Gambling with an edge on your side. Did you know that the casino is the biggest gambler in the world? It's also, the richest one. *EDGE*
I agree with this 100%.

Having an edge does not mean you are no longer gambling.

Having an edge does not mean it is certain you will make profits.
  • #70
  • Jan 31, 2019 12:53pm Jan 31, 2019 12:53pm
Quoting VEEFX
Can someone please tell me why Spot FX has not been introduced in Casinos? As a slot machine or those things we see on the TV monitor... i forget what it is called. It's can't be because of government regulation imo. Could it be because the CBs don't want to give the perception that Traders have ZERO edge in this business of binary outcome? Something that has been on my mind for a very long time. Any casino owners here lol ?
Casinos would go bankrupt if they do that. I don't know if you know this, but casinos edge is very slight. 5-10% lucky traders can break the casino back
  • #71
  • Jan 31, 2019 1:00pm Jan 31, 2019 1:00pm
Quoting VEEFX
{quote} yeah.. i know nothing about casinos or "game theory" or all those buzz words. By design, I have put my blinders on.
Rare photo of VEEFX trading FX.

Attached Image


  • #72
  • Jan 31, 2019 1:02pm Jan 31, 2019 1:02pm
Quoting LDFX
{quote} If I open a business, say a restaurant, would that be gambling ?
Yes. Because you're making money out of innocent people, instead of giving out food free of charge
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -77.5%
  • #73
  • Jan 31, 2019 1:04pm Jan 31, 2019 1:04pm
Quoting VEEFX
{quote} Atleast I did not engage my kids into trading like many idiots around here :-)
LOL

Might as well introduce them to cigarettes while they are at it.
  • #74
  • Jan 31, 2019 1:13pm Jan 31, 2019 1:13pm
Quoting VEEFX
{quote} Just to say it... Anyone who can't quit cigarettes is just a weak person. I was a chain smoker for over 8 yrs and went cold turkey the day I went down on one knee. All my dad and uncles were smoking 2-3 packs daily and I got the first hand experience of what smoking does to your family. Didn't want that shit to happen to my kids! Gave up alcohol also in 2016 by going cold turkey!
Very nice on being sober since 2016, that is awesome!

I agree that quitting habits is usually hard for people with a weak will and a lack of self-knowledge to know what the habit actually means to them/why the fetishize it so much.
  • #75
  • Jan 31, 2019 1:19pm Jan 31, 2019 1:19pm
Money management alone make trading a business

And yes if you open a restaurant and don't have money management skills or/and a plan then yes, this is gambling.

Is up to us to make key choices that lead to long term success, just as the first time you crossed the street on your own.
  • #76
  • Jan 31, 2019 1:25pm Jan 31, 2019 1:25pm
Quoting VEEFX
{quote} Gambling, Drugs and pay for women's bod are 3 things I pledged I would never engage in... just seeing lives getting destroyed was enough for me... we are digressing here. Let's continue with gambling discussion. I might learn a few things that I don't care about lol
In light of continuing, a harsh reality for those set on the idea that they are not gamblers.

By simply living, you are gambling. There is never a point in your life where it is certain you will survive the next year:

Attached Image (click to enlarge)
Click to Enlarge Name: actuary table.PNG Size: 35 KB


So the question is not whether to gamble or whether we are gambling because we must be by definition. The question is how to gamble so as to maximize the chance of survival...
  • #77
  • Jan 31, 2019 1:26pm Jan 31, 2019 1:26pm
Quoting MackS10
Money management alone make trading a business And yes if you open a restaurant and don't have money management skills or/and a plan then yes, this is gambling. Is up to us to make key choices that lead to long term success, just as the first time you crossed the street on your own.
Even with MM, you are still gambling as making a profit does not become certain simply because you use MM.
  • #78
  • Jan 31, 2019 1:38pm Jan 31, 2019 1:38pm
Quoting TEntropy
{quote} Even with MM, you are still gambling as making a profit does not become certain simply because you use MM.

Uncertainty does not make it gambling.
LDFX Trading Ltd
  • #79
  • Jan 31, 2019 1:39pm Jan 31, 2019 1:39pm
Quoting TEntropy
{quote} Even with MM, you are still gambling as making a profit does not become certain simply because you use MM.
whats certain in this world !? uncertainty means gambling ?!
so everyone in this world is a gambler who is gambling everything till his death! coz only death is certain!
  • #80
  • Jan 31, 2019 1:39pm Jan 31, 2019 1:39pm
Quoting LDFX
{quote} Uncertainty does not make it gambling.
By definition, logic, and mathematics it does though...
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