betting on horse races vs. trading

It's funny to watch all these gambling analogies to trading (poker, blackjack, etc...) surface from time to time. I was recently reading a book on how modern horse racing handicappers succeed.



The funny thing is, these guys go through the same types of debates that some of the trading forums have. Some say handicapping (trading strategy) is more important than money mgmt. etc. But all pretty much agree, both are important.

Let's face it. When it comes down to it, trading is gambling. The more you understand that relationship, the better off you are IMO. I wish I had studied these types of books/strategies long ago, rather than wasting time on the proliferation of cherry picking TA visual arts books.
Not that pattern recognition TA is completely devoid of merit, but the subjective approach that the far majority of authors seem to advocate is sorely lacking IMO.

 

horse betting is nuts, the vig is huge. you gotta be brillant to be a winning bettor

 

Horse betting, jai alai, dog races, all man made inventions of rigged schemes.

Wanna bet I don't fart the next 10 seconds?
......

Oops I did. You lose.

Focus on trading instead of wasting time trying to come up with comparisons. Next thing you'll be comparing reading stock charts to Madam Gazelle's house of astronomy and tidal wave reports.

 

I know a guy that trades that stuff! And he makes money!

 

And yet there will always be those who still don't get it. To each his own.

 

I couldn't agree more with your original post. Trading IS gambling. Period. Those who understand risk, money management and <strike> randomness</strike> uncertain outcomes are best suited for trading.

 

Very true. It's the same way I think non-member scalpers are nuts. Commissions eat your % up. The best handicappers I know bet longish odds and figure If they can hit an 8-1 once every 6 tries then they're ahead of the game.

 

yeah, I do some tennis betting but its just for fun. trading is like the ultimate job, better than betting or poker or business, more liquidity and unlimited upside

 

If you bet two bucks on a horse to win and half way through the race you realize you got a loser your money is gone, at least in trading you can get a buck back.

 

wow i was going to post a reply but then i just had some deja vu with your post. have you posted this before?

anyhow...trading is not gambling. it can look like gambling if you don't know why stuff is doing what it is doing. it can also look that way if you try to play every single little buy and sell that goes on.

i guess your perspective on the trading=gambling may be a function of how you trade.