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Are We All Gambling?

  • #81
  • Jan 31, 2019 1:40pm Jan 31, 2019 1:40pm
Quoting TEntropy
{quote} 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: {image} 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...

Uncertainty does not make it gambling.

As you show the chart, doesn’t make it gambling because it’s uncertain how long we will live.

Now if you play the Russian roulette then it is gambling.
LDFX Trading Ltd
  • #82
  • Jan 31, 2019 1:40pm Jan 31, 2019 1:40pm
Quoting fx75
{quote} 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!
Yes, death is the only certainty you could argue. And the point of this is to rethink how you frame your decisions, what you are doing, and what your overall goals in making those decisions are.
  • #83
  • Jan 31, 2019 1:42pm Jan 31, 2019 1:42pm
Quoting LDFX
{quote} Uncertainty does not make it gambling. As you show the chart, doesn’t make it gambling because it’s uncertain how long we will live. Now if you play the Russian roulette then it is gambling.
I am not trying to be snarky, but again, it is mathematically impossible to have something be uncertain, and not be probabilistic. And by seeking a specific outcome on something that is probabilistic, you are, by definition, gambling...
  • #84
  • Jan 31, 2019 1:42pm Jan 31, 2019 1:42pm
Quoting TEntropy
{quote} Yes, death is the only certainty you could argue. And the point of this is to rethink how you frame your decisions, what you are doing, and what your overall goals in making those decisions are.

Well, gambling is forbidden in many places..., can we not give birth, live and open restaurants there ?
LDFX Trading Ltd
  • #85
  • Jan 31, 2019 1:44pm Jan 31, 2019 1:44pm
Quoting TEntropy
{quote} 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... {quote} Logically, and empirically there are no actual differences, in that you are making a decision on a probabilistic outcome.

Lol, I would love to see that !
LDFX Trading Ltd
  • #86
  • Jan 31, 2019 1:45pm Jan 31, 2019 1:45pm
Quoting LDFX
{quote} Well, gambling is forbidden in many places..., can we not give birth, live and open restaurants there ?
I am glad you have participated this long. Again, the point is to reframe how you view the decisions you make. I find it very interesting that you are extremely resistant to acknowledge how, by definition, and mathematics, you are gambling.

The imposition of laws themselves are a gamble for the party or person imposing them, otherwise, there wouldn't be consequences for breaking them...
  • #87
  • Jan 31, 2019 1:49pm Jan 31, 2019 1:49pm
Quoting TEntropy
{quote} I am glad you have participated this long. Again, the point is to reframe how you view the decisions you make. I find it very interesting that you are extremely resistant to acknowledge how, by definition, and mathematics, you are gambling. The imposition of laws themselves are a gamble for the party or person imposing them, otherwise, there wouldn't be consequences for breaking them...

Well that is because you got the definition all wrong, Gambling is an activity that is based upon chance or luck and has nothing to do with the skills of a person.

That is why it is forbidden in many places but not like a restaurant or any other businesses.
LDFX Trading Ltd
  • #88
  • Jan 31, 2019 1:51pm Jan 31, 2019 1:51pm
Are we all gambling ?
In everything we do there is uncertainty, as in, nothing is 100% and hence everything is a gamble. There is no certainty or probability that your next breath is not going to be your last.
There is always an element of risk, our job, as traders is to evaluate the risk. because this is something we can do, the reward is the uncertainty, simples..
Question could be, where am I in my cycle of (gambling / chance / uncertainty / probability) if in doubt, you can always enjoy a good pull back, socks on or socks off, its your call....
  • #89
  • Jan 31, 2019 1:51pm Jan 31, 2019 1:51pm
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!
If you needed to go cold turkey wih alchohol you where drinking way to much so i am happy for you and now you should join Anonymous Traders.
Insanityoing same ting over expecting different results..Einstein
  • #90
  • Jan 31, 2019 1:53pm Jan 31, 2019 1:53pm
Ignore and move forward.
  • #91
  • Jan 31, 2019 1:57pm Jan 31, 2019 1:57pm
Quoting LDFX
{quote} Well that is because you got the definition all wrong, Gambling is an activity that is based upon chance or luck and has nothing to do with the skills of a person. That is why it is forbidden in many places but not like a restaurant or any other businesses.
LDFX, please go read the definitions that have been posted. You are the one trying to change the definition of gambling. And again, the fact that you think opening a restaurant or any business is not a gamble, shows you have no experience in doing either.

Looking at business openings from 2011, the following data was reported after 5 years.
Of all the small businesses started in 2011:
- 4% made it to the second year.
- 3% made it to the third year.
- 9% made it to the fourth year.
- 3% made it to the fifth year.

And you say these people were not gambling with their futures...
  • #92
  • Jan 31, 2019 2:00pm Jan 31, 2019 2:00pm
Quoting TEntropy
{quote} LDFX, please go read the definitions that have been posted. You are the one trying to change the definition of gambling. And again, the fact that you think opening a restaurant or any business is not a gamble, shows you have no experience in doing either. Looking at business openings from 2011, the following data was reported after 5 years. Of all the small businesses started in 2011: - 4% made it to the second year. - 3% made it to the third year. - 9% made it to the fourth year. - 3% made it to the fifth year. And you say these people...
Something that has a high failure rate does not make it gambling.

Another thing you are wrong ; I am an entrepreneur since roughly 20 years...
LDFX Trading Ltd
  • #93
  • Jan 31, 2019 2:03pm Jan 31, 2019 2:03pm
Quoting LDFX
{quote} Something that has a high failure rate does not make it gambling. Another thing you are wrong ; I am an entrepreneur since roughly 20 years...
I am not saying a higher failure rate makes it gambling. I am saying the fact that the outcome is probabilistic does. It's obvious you can not see the actions you are doing for what they are so I guess we can agree to disagree.
  • #94
  • Jan 31, 2019 2:09pm Jan 31, 2019 2:09pm
When i breake my rules and start opening more possisions as price goes against me i am gambling if i can manage to follow my rules for my super tight scalps then i am consistant but i have problems keeping the gambler away.I belive its possible to read the market for up to 10 minutes on smaller timeframes 1-5 minutes longer than that and the market is random and you are in fact gambling.
Insanityoing same ting over expecting different results..Einstein
  • #95
  • Jan 31, 2019 2:14pm Jan 31, 2019 2:14pm
Quoting TEntropy
{quote} I am not saying a higher failure rate makes it gambling. I am saying the fact that the outcome is probabilistic does. It's obvious you can not see the actions you are doing for what they are so I guess we can agree to disagree.

Gambling comes from the old English “to play”, I do not play with my money.

Once you do a business in which you are skilled, even if they is a part of chance and uncertainty, it is not gambling because you do not count on luck to have the right number on the dice but skill and hard work.

Anyone can virtually open a casino, no skill needed, same goes for the gamblers, a 5 years old boy would have the same skill on roulette as a 20 years experienced gambler.

There is no such thing as gambler manager because anyone can gamble, there is no skill involved at all, 100% of the outcome is from chance / luck, that is gambling.
LDFX Trading Ltd
  • #96
  • Jan 31, 2019 2:30pm Jan 31, 2019 2:30pm
we all gambling with analysis lol
  • #97
  • Jan 31, 2019 2:37pm Jan 31, 2019 2:37pm
Quoting LDFX
{quote} Gambling comes from the old English “to play”, I do not play with my money. Once you do a business in which you are skilled, even if they is a part of chance and uncertainty, it is not gambling because you do not count on luck to have the right number on the dice but skill and hard work. Anyone can virtually open a casino, no skill needed, same goes for the gamblers, a 5 years old boy would have the same skill on roulette as a 20 years experienced gambler. There is no such thing as gambler manager because anyone can gamble, there is no skill...
Exactly... no skills, no knowledge of the market is needed.
  • #98
  • Jan 31, 2019 2:43pm Jan 31, 2019 2:43pm
Quoting HeyYou
{quote} Exactly... no skills, no knowledge of the market is needed.

Then you are gambling with forex.
LDFX Trading Ltd
  • #99
  • Jan 31, 2019 4:05pm Jan 31, 2019 4:05pm
There can be a difference between gambling and trading, if you view gambling as gaming (what we do in Las Vegas) and trading as professional trading. Novice traders are usually gambling because they lack market knowledge, don't understand risk and risk mitigation, lack personal and emotional maturity, etc. They take a huge gamble every time they open their trading account. If you have not been developing professional skills, you are gambling, and are better off taking your money to Vegas and getting your losses done in a single weekend. At least you'll get some free drinks there.
  • #100
  • Edited 6:19pm Jan 31, 2019 4:42pm | Edited 6:19pm
If LDFX wore his best business suit and walked into a casino declaring that he is a businessman handing out his business cards or whatever that makes him look like a businessman, they will just point out the chip kiosk where he can slam down his cash and start playing aka gambling all the same.
So a round of applause for LDFX for doing business where we are all gambling.

Buzz lightyear finally realized that he wasn't flying. He was just falling with style.

https://tenor.com/search/falling-with-style-gifs
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