Hello Arnie Guitar, Yes day trading manually is pure gambling . I love it. Nothing more funnier in life.
Make a day trading journal here at Trader of Elite displaying your returns for the world to see and learn off of. Because that's the only way you're gonna survive in this life. Reflection wisdoms lessons etc misc
I know 2 tracks where the place (1-2-3) payout is almost half the win odds. There are punters who survive entirely on backing the favorite to place. The payment is off the books.
I don't know about horse racing, but trading has some points in common to roulette game in the casinos. An online book called roulette trader highlighted those similarities.
What’s different is … favourites actually payoff more, in trading, than underdogs. Do a Monte Carlo simulation, 3 upticks for 2 downticks and check the payout. You’ve got the best & the most of it.
I know gamblers. They're chasing a rush. They can lose 20 times in a row and win less than they lost and LOVE IT. Mindless gambling on slots. It's the adrenaline and dopamine... To some extent, the same thing happens with market risk, but that kind of trading is reckless.
I meant the better the odds. So if the odds were 1 to 1 at my imaginary track, the payout would be 2 to 1. And if the odds were 2 to 1, the payout would be less. This is how it is in trading when you know what you're doing. In the real world of casinos and horse tracks it's obviously the other way around.