Registered: Dec 2008
01-18-09 11:51 PM
Any time you put your money at risk you are gambling, no matter how much you try to think otherwise!
Quote from Loki:
Never said my edge is realizing that I am not a gambler. I said that if you have and can use an edge you are not gambling.
My edge is that as soon as I place a trade my probability to make money is more than 60%. The probabilities keep changing as the price changes. At times I lose money, however was I a gambler because I made a bad trade and lost money ? No, as long as the moment the trade was placed the chances of making money were more than the chances of losing money.
There are a few people that have been trading for 5 - 10 - 15 or more years. Obviously they are not gamblers so are they just lucky or do they have an edge ?
Unless you have an edge whatever it is, you are gambling, but trading is NOT gambling for the minority of people who constantly make money on Wall Street.
In 2008 my performance was up 30%. Time will tell if I am a gambler or if I have an edge.
I do know that good traders make money in up and down markets, and the vast majority of market players lack that ability.