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Is Trading Gambling or not
You do not have permission to vote on this poll. |
| Gambling |
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438 |
34.98% |
| Not Gambling |
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814 |
65.02% |
| Total: |
1252 votes |
100% |
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marketsurfer
Registered: Apr 2002
Posts: 5405 |
03-24-11 01:54 PM
Quote from emg:
Another thing, most big successful traders do not like to share. Perhaps they are not liberal but a conservative.
Obviously, you don't know any.
I don't understand the purpose for these posts. Maybe taking the time to learn prior to posting would be a good idea.
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Scataphagos
Registered: Apr 2009
Posts: 9158 |
03-24-11 02:14 PM
Quote from ElectricSavant:
Does "Not Gambling" go Hand-in-Hand with a quiet (not braggardly) conservative attitude?...vs. the other way?...you know...
Have you voted?
ES
Geez, Michael, you appear obsessed with the notion of whether trading = gambling.
Seems the difference in most people's mind is one of semantics. That is, "money at risk, chance of loss = gambling". When gambling you are supposed to lose. Payoff odds and probability of loss always favor the casino.
In trading however, you are supposed to win. How is that? It's because you can put the "probability of winning" on your side by what you know and how you behave. In true gambling, that is not the case. Odds are against you, fixed, and there's nothing you can do to shift the odds in your favor.
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eudaemon
Registered: Jan 2011
Posts: 971 |
03-24-11 02:24 PM
Quote from marketsurfer:
Gambling by nature involves choice. Death is not a choice.
Suicide is a choice. So is over-betting % of your bankroll. If you have no edge, any bet is an over-bet and can be classified as variance-gambling. i.e. You can only win in the short term by being lucky. If you have an edge, you can still go a long time without winning...
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ElectricSavant
Registered: Jan 2003
Posts: 14844 |
03-24-11 03:14 PM
Well Scat...
This deserves a reply. (not a debate or a side or an argument)
Denial can lay down the illusion of control for some, but when you get right down to the reality of the matter, it seems that the market has no idea what your condition is.
ES
Quote from Scataphagos:
Geez, Michael, you appear obsessed with the notion of whether trading = gambling.
Seems the difference in most people's mind is one of semantics. That is, "money at risk, chance of loss = gambling". When gambling you are supposed to lose. Payoff odds and probability of loss always favor the casino.
In trading however, you are supposed to win. How is that? It's because you can put the "probability of winning" on your side by what you know and how you behave. In true gambling, that is not the case. Odds are against you, fixed, and there's nothing you can do to shift the odds in your favor.
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BlackBison
Registered: Jun 2007
Posts: 328 |
03-24-11 03:28 PM
Same old question, and i'll give the same old answer.
Is the owner of a casino or bookmaker gambling?
Obviously most would say they are not, provided they don't take too large bets from clients that they cannot afford to lose.
They have a fixed advantage over time because the game is rigged in their favour.
So why would trading be any different, provided you are successfully making money over the long run?
Trading, poker, business and life itself is full of risks. Now if you are smart you can take calculated risks where the outcome is worth the downside. If you are a fool or gambler you will no doubt take stupid risks that do not pay off and you will be a net loser over the course of your life.
You cannot group together all traders under the same umbrella. Just like you cannot group all businessmen under one umbrella and say they are all gamblers, just because you know a couple of fools who have lost their life savings starting up a restaurant etc when they nothing about commerical cooking, did no prior research and have never run any businesses of their own before.
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Gabfly1
Registered: Nov 2009
Posts: 5295 |
03-24-11 03:52 PM
Quote from Scataphagos:
...When gambling you are supposed to lose...
...In trading however, you are supposed to win...
To win arguments, Scataphagos relies heavily on his own unique and personal definitions.
Quote from Scataphagos:
...that just gibberish.
Precisely, but I didn't want to have to be the one to tell you. Nothing like a bit of introspection, eh?
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