Is trading Gambling or not .."What say You" Vote here.

Discussion in 'Psychology' started by ElectricSavant, Apr 10, 2005.

Is Trading Gambling or not

This poll will close on Jan 12, 2060 at 11:25 AM.
  1. Gambling

    458 vote(s)
    34.9%
  2. Not Gambling

    854 vote(s)
    65.1%
  1. I just meant what would happen to the short side of the account? How do you get out of the losing end of the trade, after incrementally adding size as the position goes against you? We haven't seen 200 yen to the dollar since 1985; would you be counting on greater profits on the long side to offset the losing shorts?
     
    #31     Apr 10, 2005
  2. Oh,

    Sorry didn't mean to be defensive...

    I would be counting on the chop and a trade size to withstand the inevitable unrealized....The resulting profit from the trend, then the recoil, then the continuation nets realized profit along the way. It will chop more sometimes than other times, in its journey. But as "they" say most instruments range more than they trend...

    Nothing trades in a straight line.

    The Folks over at Oanda can accuse me of having a big mouth. So I wil not go into anymore detail. But visualize with me illiquid...

    Trading is not necessarily gambling, in the non "pure" sense (Water is wet, but ice can be dry, what do you "feel"?)

    Michael B.


     
    #32     Apr 10, 2005
  3. That drop from 230 to around 160 yen was pretty much a straight line down, during which I'm sure there were a few giant gaps along the way (post-Plaza Accord). Scary stuff for that kind of trading! Isn't selling straddles a comparable risk/reward profile?
     
    #33     Apr 10, 2005
  4. M Vega

    M Vega

    It is definitely gambling for some people...
    But the winners in the end are not gambling, just using their skills to take away my money :D
     
    #34     Apr 10, 2005
  5. Well

    For me that would define my zone and help me to understand the trade size. But I am trading longer term.

    I could lay this out point by point, but many would never trade this. Tolerance is key. Not really scary as the straight line will end...As long as you trade with a small portion of your capital, your fine. Most traders do not wait. Now I am not suggestion that cutting your losses short is wrong, that is a different type of trading thats all. This type of trading that I am suggesting is not gambling and not really the mode of trading here on ET...

    Again, what say you?

    Is trading gambling, please vote if you have not.

    Michael B.



     
    #35     Apr 10, 2005
  6. atta boy...You have chosen your course.

    But....

    We could be wrong...What say you ET?

    Is trading gambling or not?



     
    #36     Apr 10, 2005
  7. Anybody up for another example?
     
    #37     Apr 10, 2005
  8. You know the ironic thing about this place we call ET.

    No matter how much you contribute and how pissed off you get...no one remembers you.

    Your feelings of importance in an anonymous community, is a lie to yourself.

    Why do I contribute here? Is it really an ego thing?

    I look at ET like a squawk box. Its the noise and excitment of the market. A true gamblers paradise.

    What say you ET members?

    Is trading gambling?, lets see your side of it...

    Michael B.

    P.S. There are a few folks here that have made an impression on me. I will not name them, but they were important to me, even if they no longer contribute here. I hope they know that, because of the truth they spoke.
     
    #38     Apr 10, 2005
  9. This is all BS:

    Trend is your Friend
    Cut your losses short
    Only backtesting can reveal edge
    Price action and volume is the true discretionary edge


    Then again, 99% of the time...as she says on that overstock.com commercial on TV...

    If you post the above publically, you will not be a novice....
     
    #39     Apr 10, 2005
  10. John47

    John47


    Mrs. S,

    I looked at Electric's example. Relating it to what I said.....If his method guarentees a profit....then your right. But if it is an edge that puts the odds highly in your favor....then again, its just like a pro poker player who has a sound strategy for which hands to play.

    If you don't have a system with a guarenteed winner with every trade, you are playing odds and probability, just like a pro poker player.
     
    #40     Apr 10, 2005