%% THAT's not gambling according to Webster's. As far as people making up thier own definitions , no thanks . NOR does a broker get ticked off like a casino , with winners or big winners LOL. Hint, so many day traders do not make money, can you take a hint?? Since you used the word '' dont know how to fix'' that's another hint to me. Market makers, specialists...... make money day trading ,so some can do it Hope this helps, helped me plenty, ironchef.
OK, I take the hint: Simply following them as close as I can. But how do I quantify that? Wait, that is trend following?
Hello All, Does it really matter if trading is gambling or not? The objective is to take money from the trading market everyday rather gambling or begging or solving math problems to make money. I have no clue on earth how I trade, I just take money when I ever see it on the market.
Trading and gambling is solving math problems. In each case you need to consider how much money to wager or risk, and then at the bare minimum do a mental calculation on if it's worth doing the bet.
Hello ironchef, Trading is VERY easy for me. I am the ES Master now, all I do is TAKE money from the ES futures market everyday. Listen to these 2 songs and you will be a ES Master TAKE MONEY man like me as well. It will be easy, you gotta get your mind right first and get rid of the bullshit.
Hello Sergio123, Sounds like too much work and thinking. I do not use none of that fancy stuff, just take money from the ES market when I feel like it.
Casinos are also gambling with their capital even though the odds are in their favor. Trading is 100% gambling as you are placing a bet on an uncertain outcome. It cannot be refuted.
The alternatives are to store your cash under your mattress and gamble that you don't get robbed, or giving it to a fund manager to let them gamble with your money, or loan it to the Government. It's a matter of picking your poison.
. All your previous posts make it clear you're a very bright guy and I bet you'll see soon that you can quantify your trading ideas by constructing specific rules for entries and exits and then testing them. Focusing on the concept of market inertia has been most helpful to me, i.e., under certain chart entry conditions price bars are more likely to continue moving upward or downward for a few or several more price bars (body in motion staying in motion until acted on by another force...), while under most other chart entry conditions such continued movement is less likely. I believe you have mentioned that you prefer to trade without indicators (maybe a moving average? not sure). All my systems use indicators to quantify momentum, trend direction and volatility, and I've never developed rules-based trading systems whose entries and exits are based on pure price action, but I know it is possible. I'm confident that one can identify chart conditions where market movement is more likely to continue (inertia) using price action techniques and then design specific entry and exit rules to test around these concepts. After that, one can scroll back on the charts and start moving them forward one price bar at a time and test whether the rules have merit. Then one can adjust the rules in a logical way to try to improve the results and test again. The best examples of this method in practice that I have seen are the journals created by Volpri and NoDoji. NoDoji's journal includes input from other price action traders too and is in the Hall of Fame threads if you might be interested.