everything in life is GAMBLING. some things have less risk everything costs something. nothing is free. bad gamling is not preparing yourself to reduce the risk by several means (including education, preparation, practice etc). having sex is gambling. good gambling is taking on the things you can live and/or reduce the risk. eating a hotdog is gambling. flirting with your pretty female sales associate is gambling. for some poker is good gambling, for alot of us, poker, blackjack is bad gambling. for me trading my system in the emini is good gambling. everything is gambling.
Out of all the people that I know of...you would be the last person that I would believe that would post this. maybe I must consider to reconsider, as I respect what you post...
Set your personal biases aside, look the word up in a dictionary, and then decide for yourself. Literal definition of "gamble" as a verb: to bet on an uncertain outcome. Are trading outcomes certain? Literal definition of "gamble" as a noun: the playing of a game of chance for stakes; an act having an element of risk. Does this sound like trading? Bear in mind that the literal definition (as compared to any colloquial version) does not suggest, either implicitly or explicitly, that gambling means the odds are necessarily against you. Any negative connotation you associate with either term is your own burden. Beyond that, who cares what other people think? There is your answer.
Wondering how long it will take Don Bright to correct CBS News for leaving out "professional stock trader" from 2000 WSOP Champ Chris Ferguson's resume in 60 Minutes' website sidebar "All Aces: Poker's Top Players"... http://www.elitetrader.com/vb/showthread.php?s=&postid=903967#post903967
Ok, <i>NOW</i> I understand why you don't want trading to be qualified as gambling, but unfortunately... Although I consider trading as gambling I have a lot of respect for markets, and I would go as far as saying that speculative markets are where you'll find the most justice in the world.
steve I don't know if your absolutely correct on this assumption! Governments are powerful and just because it has an illusion of freedom doesn't mean it really is. If the Fed can control monetary policy, money supply etc etc are the markets really free?
Excellent point. I addressed it in a thread I created under the title <a href="http://www.elitetrader.com/vb/showthread.php?s=&threadid=58407">Natural markets and hybrid markets</a>.
Just a comment...I really don't consider trading, blackjack, or poker as gambling. I do consider video poker, roulette, craps, and all the other stuff as (foolish) gambling...but, then again, they pay our State income tax for us here in Nevada. Cruise ship fun..small limit blackjack, Bob up $3500, Don up $1500, and we had fun doing it. All the best, Don