i see a bit different in this case the opponents of word gambling in case of trading imply that traders do not hope... but what are they doing? they are hoping... that their method will work... one may call it expecting, but those expectations are also hope we are gambling and hope all the way throughout all our lives... people just do not think about it, that all our lives are just set of different probabilities which we hope will realize in our favor... no guarantees anywhere and the knowledge is only knowledge of probabilities, based on laws of nature like there are enormous probabilities that the sun will rise tomorrow,.. but no guarantee actually any guarantees are also based on hopes
Trading is much more objective than typical forms of gambling. I wouldn't regard trading and investing as gambling. Gambling is where the odds are stacked against you, whereas with trading, the odds are stacked in your favor if you're logical and rational.
It's an interesting documentary. Thanks for posting. In summary he went big when odds were in his favour.... plus hired the odd porn star to distract the dealer. Nice trick
One type you described is rather likelihood and has a basis to expect something by applying knowledge and logic. The other one has nothing to support it. I can't say it makes sense to describe both with the same word.
People appear to associate a negative stigma to the word gambling when it comes to trading, maybe having a belief gamblers are society rejects and addicts out of control. I systematically trade, have done for decades, and imo, I gamble on every trade, not much different from trackside horse gamblers they study the form guide and place their bets. As well, I'm hooked on trading, everyday I study it, 7 days a week, year on year. If someone called me a gambler, I would look at them quizzically and say "so?"
Parimutel wagering, poker and even blackjack do not have odds stacked against you if you are a professional player. Same thing can be said about the market.