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.
i agree. there are professional gamblers that define an edge/strategy as we do in trading and exploit it, knowing its a % game and do well...then there are gamblers that dont have a clue and define gambing as luck/chance. in the end they always end up loosing.
When I play poker, I'm playing the odds. I do the same when I put on an options position. So I guess if one is considered gambling, the other should be too. My personal view is life in general is a gamble. Why should trading be any different?
I think we need to differentiate between two different types of gambling. 1) Pull the one-armed bandit and take a 50/50 chance. 2) Define your risk to reward and make a calculated, managed move when you recognize situations where the odds tip in your favor. When most people say shit like "Trading is just gambling" it pisses me off for a minute because they are talking about 1) as described above. It's funny because they will reveal their opinion of you and what you are doing as a trader right there. Just a gambler. aaawe lol Funny thing is, nobody except one person out of all my friends has made a concerted effort to even learn how trading really works! But they sure do kill it on those slots! Yeah! I agree with some of you who say everything is a gamble, but I think when it comes to trading it's important to consider just what we mean by gambling. I guess you would say that a profitable trader is a professional gambler...not a crapshooter. We all know what happens to crapshooting traders and I'm sure we've all been there I just still hate the word gambler lol
If the odds are in your favour then arn't you the casino? There is a risk to holding cash these days as they will shortly be printing money.
are you guys retarded? Gambling - Gambling is the wagering of money or something of material value on an event with an uncertain outcome with the primary intent of winning additional money Whether you win consistently or lose consistently has nothing to do with it. Gambling with positive expectation is still gambling.