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Do You Think Trading is Gambling?
You do not have permission to vote on this poll. |
| Yes |
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135 |
44.12% |
| No |
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171 |
55.88% |
| Total: |
306 votes |
100% |
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smallfishleague
Registered: Jan 2009
Posts: 1 |
01-18-09 12:19 AM
It depends how you define gambling.
The public misconception is that gambling doesn't require skills. In some way, trading is comparable to gambling in that,
1. There is a big part of it out of your control and subject to luck of God.
2. Equipped with skills, you can win consistently.
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trackstar
Registered: Sep 2007
Posts: 2093 |
01-18-09 12:24 AM
If you are a gambler you are doing it wrong and going to blow up eventually. If you are the house you know your edge, its LIMITATIONS, and how to apply it.
So in a since it is gambling.
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nysestocks
Registered: Dec 2008
Posts: 639 |
01-18-09 12:42 AM
Any time you put your money at risk, you are gambling!
Many like to think that it is not gambling, for whatever reasons they have, but a fact is a fact, no matter how hard we try to ignore it.
Acceptance can help a trader discover how the markets really work, and not be prone to the illusion that the majority are exposed to, for obvious reasons.
As a matter of fact, casino gambling can be far less risky than trading, as in a casino when you place your bet, you know exactly how much you will lose!
In trading, if you do not make a concious decision to "place your bet", then you are playing with fire, and when you play with fire, you can expect to get burned.
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nysestocks
Registered: Dec 2008
Posts: 639 |
01-18-09 12:50 AM
I will have to disagree with the luck bit.
Every outcome, or event, happens for a reason, and very briefly, it can be explanined by Cause & Effect.
If you believe in luck, you are in effect wishing and hoping, and we all know what wishing and hoping can do to a trading account!
When luck is replaced with conviction, it becomes clear that the markets do what they do for a reason.
If you want to take money from other traders, then it may be wise to know what your odds are before you start, so that you can place the right size bet for the particular trade in question.
Quote from smallfishleague:
It depends how you define gambling.
The public misconception is that gambling doesn't require skills. In some way, trading is comparable to gambling in that,
1. There is a big part of it out of your control and subject to luck of God.
2. Equipped with skills, you can win consistently.
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Loki
Registered: Aug 2008
Posts: 166 |
01-18-09 12:53 AM
Many "investors" are in it for thrills and deny it is gambling. If you do not have an edge (and 90% of stock investors do not) you are a gambler- not an investor/trader. Most stock investors are compulsive gamblers, but would deny it if you asked them.
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