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Trader or Gambler?

  • #61
  • Oct 24, 2013 11:54am Oct 24, 2013 11:54am
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  • #62
  • Oct 24, 2013 1:37pm Oct 24, 2013 1:37pm
A trader: one that has 100k+ and risks 0.25% per trade
Gambler: most of us here and nothing wrong with that.
  • #63
  • Oct 24, 2013 1:56pm Oct 24, 2013 1:56pm
you are a gambler when you lose
you are a trader when you win
  • #64
  • Oct 24, 2013 4:20pm Oct 24, 2013 4:20pm
Quoting Mingary
you are a gambler when you lose you are a trader when you win
Just wondering how long have you been trading real money before you decided that FX is BS?

Gumrai sorry for off topic!
  • #65
  • Edited 4:43pm Oct 24, 2013 4:32pm | Edited 4:43pm
Quoting Vitez
A trader: one that has 100k+ and risks 0.25% per trade Gambler: most of us here and nothing wrong with that.
The % of account risked per position doesn't determine if one is a gambler or trader IMO. The outcome is still the same; undetermined until it actually happens. Going off that, life is a gamble, to get ahead we have to take risks, and just like life, people who take the biggest risks often get the biggest rewards - if someone's happy making 1% on a $100 account a month then that's their choice, if someone is happy risking 30% of the account per trade then that is also their choice and no one elses.

What matters is if you can make money at this game, not whether it's gambling or trading because really, who cares? the only thing which matters is you and your account, fuck everything else.

Quoting warnisw
Trader or Gambler?
Speculator.

http://www.investopedia.com/terms/s/speculator.asp
  • #66
  • Oct 24, 2013 4:56pm Oct 24, 2013 4:56pm
Quoting Vitez
{quote} Just wondering how long have you been trading real money before you decided that FX is BS? Gumrai sorry for off topic!
Does it matter?
  • #67
  • Oct 25, 2013 2:50am Oct 25, 2013 2:50am
Quoting Mingary
{quote} Does it matter?
Ok this tells me everything....

And btw just to add to the topic I know a guy who plays poker for a living. So if it's possible there at trading it should be even easier because the risk is defined by each trade.
  • #68
  • Oct 25, 2013 3:40am Oct 25, 2013 3:40am
Quoting Vitez
{quote} Ok this tells me everything.... And btw just to add to the topic I know a guy who plays poker for a living. So if it's possible there at trading it should be even easier because the risk is defined by each trade.
What does that tell you?
  • #69
  • Oct 25, 2013 3:45am Oct 25, 2013 3:45am
Quoting Mingary
{quote} What does that tell you?
That you give up quite easily..
  • #70
  • Oct 25, 2013 3:47am Oct 25, 2013 3:47am
Quoting Vitez
{quote} That you give up quite easily..
What makes you say that I am giving up?
  • #71
  • Oct 25, 2013 3:48am Oct 25, 2013 3:48am
I don't see anything wrong with the word gambler.

We play the odds and manage our risk. We develop edges that produce positive returns over time and the mindset/discipline to stick to the rules of the edge.

There are gamblers and there are gamblers - some with plans and edges and systems that work for them, some that just rely on hope without any plan or proven edge. Same with traders.

Yes it is a probabilities game - call it what you will. How you approach it depends on what you want out of it. What you get out of it also depends on how you approach it.

Just my view anyway.
Anything can happen.
  • #72
  • Oct 25, 2013 4:39am Oct 25, 2013 4:39am
Quoting Mingary
{quote} What makes you say that I am giving up?
You are trading real money with the attitude "forex is BS" ?
  • #73
  • Oct 25, 2013 4:55am Oct 25, 2013 4:55am
Quoting Patience
{quote} I have far more admiration for someone that is running a successful business with employees than someone who sits at home in their pyjamas pushing a few keys on their keyboard.
So sorry for always replying late! But I got 2 Jobs!!
  • #74
  • Oct 25, 2013 4:57am Oct 25, 2013 4:57am
Quoting Vitez
{quote} You are trading real money with the attitude \"forex is BS\" ?
Do you take it seriously, like it's a "business", or "the most important thing you have ever done", or "if I work hard at it, I will be a forex millionaire" ?
  • #75
  • Oct 25, 2013 5:03am Oct 25, 2013 5:03am
Quoting fx111
{quote} You just described life itself.
This - when you accept a job with a company (over another job) isn't that a bit of a gamble that it will work out and the company will stick around long enough to keep you in a job?

This is more of a gamble that risking 1-2% on an edge that you've proven to yourself will deliver over time...

Just my view
Anything can happen.
  • #76
  • Oct 25, 2013 5:50am Oct 25, 2013 5:50am
Quoting ddinnov
{quote} This - when you accept a job with a company (over another job) isn't that a bit of a gamble that it will work out and the company will stick around long enough to keep you in a job? This is more of a gamble that risking 1-2% on an edge that you've proven to yourself will deliver over time... Just my view

I totally agree with this. I've never thought about this before although I experience this a lot moving from a polyclinic to another every couple of weeks for a better hour rate. Never thought about which place gonna last longer or with better reputation to last and that sort of things tho :/
So sorry for always replying late! But I got 2 Jobs!!
  • #77
  • Oct 25, 2013 5:52am Oct 25, 2013 5:52am
one more thing I forgot to add. for the trade you risk like 3% of the account but when moving for a job you risk 100% ( losing the job ).
So sorry for always replying late! But I got 2 Jobs!!
  • #78
  • Oct 25, 2013 6:25am Oct 25, 2013 6:25am
Quoting Muhammad Ezz
one more thing I forgot to add. for the trade you risk like 3% of the account but when moving for a job you risk 100% ( losing the job ).
Let's say you are a lawer. You have a big case you have to plead tomorrow. Tonight it's your girlfriend's / wife's birthday and she wnats to party. You go out all night and get drunk and get no sleep.
The next day, you lose the case.
You tell your client he had a weak case anyway and find some other "legitimate" excuses.
You still get your money.

Let's say you trade the forex. You blow your account. Now call your broker and find an excuse to get your money back.
  • #79
  • Oct 25, 2013 6:34am Oct 25, 2013 6:34am
You need to risk your capital to make any kind of gains. Forex is also a random walk which means it's luck that determines if you hit your TP or SL.

Sounds a lot like a gambler to me.
Remember, Red. Hope is a good thing, maybe the best of things...
  • #80
  • Oct 25, 2013 6:47am Oct 25, 2013 6:47am
Quoting Mingary
{quote} Let's say you are a lawer. You have a big case you have to plead tomorrow. Tonight it's your girlfriend's / wife's birthday and she wnats to party. You go out all night and get drunk and get no sleep. The next day, you lose the case. You tell your client he had a weak case anyway and find some other \"legitimate\" excuses. You still get your money. Let's say you trade the forex. You blow your account. Now call your broker and find an excuse to get your money back.

You may get away with it this once. but the next client will know about it ( people have big mouths ) and gonna pay you an X instead of the regular 2X you used to be paid. soon you'll run out of clients if you lost like 3-4 cases in a row. so, after all it's the same thing.
So sorry for always replying late! But I got 2 Jobs!!
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