How many times is the definition posted in this thread? I didn't read through all 180+ pages 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 and/or material goods If I go to the store and trade a federal reserve note for a snickers bar is that gambling? no , there is no intent to win additional goods. How about if I trade federal reserve notes for gold ? If my intent is to make additional "money" or have more purchasing power than yes it is because the outcome isn't 100% that I make "additional money". If my intent is because I like that gold is shiny and my goal isn't to have "additional money" then no it's not gambling. If you experience or have experienced most of these things while trading then YOU are gambling. Did you ever lose time from work or school due to gambling? Has gambling ever made your home life unhappy? Did gambling affect your reputation? Have you ever felt remorse after gambling? Did you ever gamble to get money with which to pay debts or otherwise solve financial difficulties? Did gambling cause a decrease in your ambition or efficiency? After losing did you feel you must return as soon as possible and win back your losses? After a win did you have a strong urge to return and win more? Did you often gamble until your last dollar was gone? Did you ever borrow to finance your gambling? Have you ever sold anything to finance gambling? Were you reluctant to use "gambling money" for normal expenditures? Did gambling make you careless of the welfare of yourself or your family? Did you ever gamble longer than you had planned? Have you ever gambled to escape worry, trouble, boredom or loneliness? Have you ever committed, or considered committing, an illegal act to finance gambling? Did gambling cause you to have difficulty in sleeping? Do arguments, disappointments or frustrations create within you an urge to gamble? Did you ever have an urge to celebrate any good fortune by a few hours of gambling? Have you ever considered self destruction or suicide as a result of your gambling? http://www.gamblersanonymous.org
trading is a gambling activity. no matter how you bet, the results are uncertain. if you are a technical trader, you bet your setup. 1) the setup works and you do not know how much you will win and how it works, it may give you little and if you do not take it, it may take your money and more, or it may give you some but within a short time, it may go in your favor but long time it does not move more,..... 2) the setup fails and you do not know how it fails, it may stop you out then go in your favor, or it may stop you out and go no where, or it may stop you out, then after a while, it goes in your favor or never look back, often 90% time it looks back ..... many combinations there. anything about uncertain results are gambling.
Everything is gambling. Then a company launches a new untested product to the market it is gambling. No one knows the future and the outcome. Then Apple launched the iPod it was gambling, the iPhone, the iPad it was gambling, it could have failed just as much as it could succeed,
I think most traders are gambling and fooling themselves that they are not. Fooled by: 1) randomness 2) Luck
Don, I think that this is a significant issue where traders like to chime in with their views. I think that you will notice the absence of numerous threads fragmenting the issue and this thread has become the place to weigh in. This serves as a utility to ET...the Internet...the world...and to gawd... ummm...wait...I am overdoing this... Have you voted?... ES
Don, Are you saying you want me to dig up some of my old stuff...no you do not want that...really?...I do not think so. My past could have been rosier if I had the balls to move to Las Vegas...I really regret that. ES