If you admit it or not. Starting a business, getting married, going to a job interview, trading, driving to work, and etc... Everything has a risk, and most things have a reward. There is a statistical odds factor's which can be calculated out pretty well for nearly everything. Even taking your next breath of air is a gamble because there might be some deadly pathogen or virus you breathe in. The risk of this gamble not paying off is very small, and if the gamble isn't taken you will die... When you go to sleep you are gambling that you will wake up. There is a slight odds factor that you won't wake up and will suffocate in your sleep from sleep apnea or something. Driving on a highway is one of the riskiest gambles Americans take every day. The rewards of the gamble are that they can get to work and get a paycheck after multiple of these gambles. The odds of this gamble resulting in a wrecked car and serious injuries are actually statistically high enough that this gamble goes bad for many people during their lifetimes. If the bet is lost badly enough all ends! The marriage gamble is an interesting one. The risk/reward ratio for this gamble isn't the best. So place your chips well and confidently... Many who gamble badly here end up taking care of someone elses kids without knowing it or losing half their capital. Anyway... I just took a big breath of fresh air! That gamble felt good! I am pretty confident it won't go bad. Food for thought. All is statistical odds gambling whether you admit it or not. Realize this and try to keep the odds in your favor!
I'm gambling that my time is better well spent writing this post than doing something else. I lost that one. lottery....1 in 90 million. flip a coin......1 in 2 poker....taking 1,000 to 10,000 in one tournament trading.....taking 10,000 to 10,500 in one week it's all relative. some just have odds much worse than others. as humans, we have hope and seem to think we will be that special someone. that one guy who is the superhero, makes millions from a $10,000 account. or buy that $50,000 car or $800,000 house and our life will be this or that. ah, who cares, whatever works for you. unless you have kids....then i think you need to really be more risk averse. and that is the plan of the government. once in debt, married, kids, you will take less risk and be owned more. which makes us want to rebel and gamble more... funny circle
50k car? LoL... I payed 116k for my first car when I was 22... In cash... My grandma on my moms side used to say... "Without big risk there isn't big reward." Another thing she used to say was... "The more you make, the more you will spend."
I own 11 cars, the most expensive over $250,000 I was speaking to the poor people on this site, trying to relate to the 90% of traders that lose. Did I see you try sell your $116,000 car on Craigslist for $5k?
wrong wrong wrong.. if i am an engineer, a teacher, a cop, fireman, or a doctor, im not going to find out i lost 20 grand because my stop didnt get triggered, or buyers simply disappeared, or an intra day downgrade happened. i also know how much i will make at the end of the week..unlike salesman that may not know how much he will make, at least he knows for sure he wont be losing 10 grand or even 200 bucks for that matter.. fact: most workers at WalMart make more money than 90% of day traders. fact: day trading is gambling. " i bet xyz stock will go to 50 as soon as it breaks resisitance on high volume at 49.60 so when it breaks, i am going long 2000 shares.. oh shit, i bought at 49.65 at and it just dropped .40 in a second before i had the chance to hit my hot key.. ok, i only lost 800 bucks.. wait, the engineer or the guy that pumps gas didnt just lose 800 bucks for the day.. its gambling and most of you will be on suicide watch if you dont smarten up and get out while you are young..i know most of you guys are very smart and have alot to offer this world, so please, do something productive and dont wind up the way i did...i luckily bounced back in a new profession and am doing very well thank god..i still watch the market but absolutely no day trades! any of you guys need someone to talk to, just pm me..i will keep in confidential.
I agree with you, but here is the thing: the guy at wal-mart works at wal-mart. he goes home and knows he is beat down. his confidence may not be high. the trader is going after the "dream", like the football player, hockey star, basketball phenom, olympic athlete....and we don't beat them down like a trader. opportunity cost is a cost. i spin it differently: try to do whatever you want when your single, just out of college, in your 20's, early 30's whatever....then do what you suggested. but until then, go for it. i can't tell a guy to go flip burgers if his passion is wanting to trade. it may not be productive, but it's good for the soul. no regrets.