EXACTLY! +1000000 Lots of people like to call themselves "professional traders" but they seem to only focus on the "trader" part and forget about the "professional" part.
asked 3 or 4 pages ago. or are you to busy ramming your nose up maestro's ass to answer??? just kidding maestro, I know you wouldnt let him....
There isn't any point explaining my opinion or beliefs to you further because (1) you're clearly not interested in hearing anything I have to say or having a productive discussion with anybody who holds opinions contrary to your own, (2) no matter what I say or what you believe, you're clearly committed to responding with the rudest and most inflammatory responses you can dream up just for your own personal entertainment, and (3) I've already answered your questions and have provided my opinion multiple times in my previous posts. And yes, I have read the book many times, and strongly recommend it to any trader who finds the topic of this thread interesting and is interested in getting a better grasp on this issue. The only reason I didn't reference it sooner was because I strongly suspected guys like you would just grasp onto the word "gambling" in the title and continue to beat that drum over and over again without even bothering to buy the book and read it (which is exactly what ended up happening).
Why are you talking like that? I offended you somehow? Is somebody give you money if you talk like that? Or you are frustrated because you had a bad day? How old are you? above or below 10 years old... ? Btw, "Posts: 4516" I think that is a good ideea to take a break from posting on ET and focus much more in trading.
Overall, I think it was a productive discussion minus a few farts here and there . This subject interests me very much. Gambling often means "addiction" or other sorts of compulsive behavior. That is why most of the posts were related to the terminology rather than to the subject matter. It is most likely that many of you have similar points of view but simple word connotation prevents you from isolating the subject from its semantics. In the discussions like this it is important first to establish the true meaning of a word that all the participants agreed to. My understanding that "gambling" mostly relates to thoughtless activity like buying a lottery ticket. However, some of you pointed it out (and rightly so) that the broader meaning of the world gambling is associated with"taking chances". In this respect gambling could be perceived as meaningful activity hence the term "professional gambling". The difference' of course, is the same as between backyard hockey and NHL. My suggestion that for the sake of this discussion we should use word "gambling" only in the relationship to coin tossing type of games. For any other activity we should use the term "statistical logic". It should resolve a lot of conflicts here.
Semantics. I use the exact same methodology for my options trading as I do for my live sportsbook betting. Which is gambling and which is not? Joe.
Semantics indeed. That is why I propose "statistical logic" term which describes exactly your method of betting. It is safer to assume that Gambling is betting on something knowing ahead of time that you have 50/50 chance of winning it. Semantics are important as words create structures of notions (meronomy) as oppose to taxonomy that creates the structure of subjects. http://en.wikipedia.org/wiki/Meronomy