I believe that as long as you have a good reason to take a trade either based on TA, Fundies or something else, it is not gambling as you did due diligence.
I personally lose money when I gamble in forex. That is when I take trades without doing the proper homework. It happens in my earlier stages.
Probably more similarities than differences. If you're an experienced trader you can most probably gauge when odds are in your favor more times than not. Of course in trading odds cannot be calculated like they can be in a game of cards at a casino table. So the odds are perceived in trading. It's in detecting these opportunities of perceived advantage with consistency where skill and experience comes in to play.
Ignored
I very agree with this opinion,,,,,,,,,,,,,,,,
but don't forget in professional gambler also requires <<detecting these opportunities of perceived advantage with consistency where skill and experience comes in to play.>>
but don't forget in professional gambler also requires <<detecting these opportunities of perceived advantage with consistency where skill and experience comes in to play.>>
sorry not intent to be rude
thank you
Ignored
No need to apologize. That is a good response and I understand what you are saying. It is true that there is an element of perceiving in a game of cards, but the odds can be calculated more definitively as opposed to calculating the outcome of a currency trade. We know how many types of each card there are in a deck. Therefore we can "count" cards and gauge probabilities with greater accuracy. With the market, anything can happen. The range of possible circumstances is greater in the world when compared to drawing cards. There is also a difference in the element of time (opportunity cost). You can start a card game whenever you like without the overall odds changing from hand to hand. For example, the overall odds in BlackJack is a slight advantage to the casino of about 51%. In trading you don't get to choose when to play with the odds you prefer. You have to wait until the opportunity arises. Unless of course you just want to completely gamble. Perhaps I should of been more clear in my previous post.
bit of extra work involved in trading - the playing field has to be narrowed down , the player must also take part in creating the game in which he wishes to participate - to some extent , assuming some of the responsibilities of bookmaker as well as punter
No need to apologize. That is a good response and I understand what you are saying. It is true that there is an element of perceiving in a game of cards, but the odds can be calculated more definitively as opposed to calculating the outcome of a currency trade. We know how many types of each card there are in a deck. Therefore we can "count" cards and gauge probabilities with greater accuracy. With the market, anything can happen. The range of possible circumstances is greater in the world when compared to drawing cards. There is also a difference...
Ignored
got it,,,,,,,
I finally found the answer one among
the difference between trading with gambling
good explanation,, for this temporary,, thank you very much,,
got it,,,,,,,
I finally found the answer one among
the difference between trading with gambling
good explanation,, for this temporary,, thank you very much,,
best regards
wen
Ignored
yes agree,
similar to my earlier post on my horse racing system.when the bookies deem a horse above odds on ,ie,1/2 there effectivly widening the spread.pricing us out.the edge as we call it stares us in the face.
thats why i said are we still gambling ?at this point id say not,although i still need to place a BET to win
similar to my earlier post on my horse racing system.when the bookies deem a horse above odds on ,ie,1/2 there effectivly widening the spread.pricing us out.the edge as we call it stares us in the face.
thats why i said are we still gambling ?at this point id say not,although i still need to place a BET to win
Ignored
Apologies
maybe because I read too fast
so I do not know if you mean
as uttered by the 2 +2 = 4EX
about the timing and the high probability
and wait until the opportunity arises.
you have now posted 3 songs all old favorites of mine,
change is somthing many shy away from.its frightens most.but its what we do.its somthing we cant stop.this song by the sex pistols and there other tracks were dificult for the mainstream to except but looking back in the history they had a profound effect on music and culture.all these subtle changes lead to the now
you have now posted 3 songs all old favorites of mine,
change is somthing many shy away from.its frightens most.but its what we do.its somthing we cant stop.this song by the sex pistols and there other tracks were dificult for the mainstream to except but looking back in the history they had a profound effect on music and culture.all these subtle changes lead to the now
yes diceman three old songs
Just as a reminder me
1=sailing by rod stewart reminded me about trading has always followed the direction of the wind
2=wind of change by scorpions reminded me about always alert to detect whether there is a change in wind direction
3=killing me softly with his song by roberta flack reminded me to be careful when my balance or my account began to decrease slowly shrinking
there must be something wrong or there is something wrong
and require self-correction
lol,,,
best regard
Probably more similarities than differences. If you're an experienced trader you can most probably gauge when odds are in your favor more times than not. Of course in trading odds cannot be calculated like they can be in a game of cards at a casino table. So the odds are perceived in trading. It's in detecting these opportunities of perceived advantage with consistency where skill and experience comes in to play.
Ignored
yes,,,Probably more similarities than differences
therefore we are trading like walking on a hillside
when we unfocused then overbalance and tumble
When approached as a business, trading, in my opinion, is as near to the perfect capitalistic business model as you can get. It eliminates all of the encumbrances of a business, and boils everything down directly to the money. This is even more true in Forex since we trade money itself.
So as a business, you must have a solid plan, with a method that has the ability to succeed in all types of conditions. And you as the CEO must run that business, not as a robot, but as a person who can acknowledge your strengths and weaknesses, and then play to your strengths, in other words do what in your opinion is the best thing at that time. After all, we are trading the human psychology of price. Just like an insurance company or a casino, you have no idea which decisions will be winners or losers. You just know that if you use your skill, judgement and plan together, over time you are likely to have a profitable business. No guarantees, just like any business venture.
Trading in manner other than above is gambling at best. And it is possible for a business venture to deteriorate into gambling, be it in a single trade or letting the whole business become a wager. The reason I say at best, is that the markets, by nature, start the trader out at a serious disadvantage, especially if you trade as those that control the markets would have you do so. It is like gambling at a table where the dealer can cheat at will and however they want.
But as a business, you would have already built this knowledge into your plan. By far the biggest advantage the small business owner has, is they don't have to trade. They can pick and choose their battles. You can''t say that about most businesses. Most businesses you have to open your doors every day.
For myself, trading is a wonderful, challenging and rewarding business. I hope the same for all of you.
Profitable trading is the exercise of consistently applying a proven edge.
Gambling is anything that falls short of that.
Ignored
This.
With the hardest part being not changing your edge when you have a string of losers.
Being a professional gambler is cool and sexy, almost like a James Bond type..... When people think of traders, it's either pale programming nerds or fat, loud, pit monsters. That would be a difference.
What are similarities between trading and gambling?
