Is Trading like Gambling?

Discussion in 'Psychology' started by scalpmaster, Oct 18, 2006.

Is trading like gambling

  1. Yes, every moment in time is independent

    15 vote(s)
  2. Maybe, depending on the method used

    27 vote(s)
  3. Sometimes, when i win it's not!

    2 vote(s)
  4. No, I can cut my losses slowly

    11 vote(s)
  1. Books,live trading,back/forward testing...what about gurus and seminars?
    #11     Oct 18, 2006
  2. Rocko1


    If their strategies worked, they wouldnt' need them seminars to make money, haha.
    Damn them all!
    #12     Oct 18, 2006
  3. A fortune teller once told me

    " Whatever you buy...must go up; whatever you sell...must go down. Otherwise don't play!"
    #13     Oct 18, 2006
  4. fletch2


    That is not the usual or common definition of gambling. Gambling is making bets or wagers on outcomes subject to chance. By your definition a poker pro is not a gambler. A card counter is not a gambler. Of course they are gamblers. They are gamblers with an edge.

    Trading is absolutely gambling. Sometimes with a positive edge, sometimes with a negative edge, but always gambling.

    1 a : to play a game for money or property b : to bet on an uncertain outcome
    2 : to stake something on a contingency : take a chance
    transitive verb

    Nothing about fixed negative edges in there, is there? Of course not, because that's not what it means.

    So many traders have a deep-seated need to not call themselves gamblers. Get over it. Embrace it. Trading is gambling.

    #14     Oct 18, 2006
  5. Finally, someone with common sense
    #15     Oct 18, 2006
  6. djxput


    I sure have treated it like its gambling in the past ...

    Theres probably some rules to gambling and I'm sure many traders cross the line when they trade ...

    example ...

    1. Dont trade with money you cant afford to lose

    2. Dont trade if you arnt trading your system ie if you are revenge trading/fear trading/or just throwing your money out there in hopes youll score

    3. Dont trade if you dont have the odds in your favor

    etc ...
    #16     Oct 18, 2006
  7. Rocko1


    Yes I see your point. Though if he wanted semantics he could've just looked up the dictionary.
    As Clinton would say "How would you define the term, 'it'"?
    #17     Oct 18, 2006
  8. Based on your definition of gambling then I would be gambling if I started my own business. I would be gambling if I purchased a piece of rental property. I don't think too many people would consider it gambling. Yes it is taking on risk, but it is not gambling.
    #18     Oct 19, 2006
  9. Rocko1


    #20     Oct 19, 2006