I think most of society views gambling (and trading) negatively, as a way to only lose money, as a game of chance with no skill or control of the outcome involved. With the above definition of gambling, I think some areas of gambling-trading where skill is involved, is not really gambling, as long as you are making money over the long haul. If you are losing money in trading or at the casino, it's gambling whether you think you have a skill or not!
When Gambling...errr i mean Trading can a Trader have more than one chance on the same bet? read and consider carefully
The only real difference between betting and trading? Our brokerage fees are a lot less... 18% of the winnings are taken out of the pool in horse racing before distribution... that means a horse that has a "real" 50% chance of winning will only pay out around 40%... you need one hell of an edge to make it in that game
Probably the whole book of "Trading in the Zone" by Mark Douglas is about "Learning to trade an edge like a Casino (page 189)".
Exactly, house always wins, but traders cant fix the odds like a roulette wheel so we must hope our edge replicates it, but there are no guarantees ever... in the end we are just smart gamblers but gamblers none the less
well..if you lose enough I can comp you free drinks, a room sometimes with misc. concergie services' and a meal...funny can't remember the last time my broker called me and offered me that
While trading may not be gambling per se, it is a business, which is just like any other, and requires the following things to do successful: a) a relatively small amount of capital to set it up b)rigorous education for both: i) trading technique and even more importantly, ii) trading psychology and; c) the ability to sustain adversity in the form of loss of capital (whether realized, or not) through other forms of d) passive or active income until a nice amount of capital/reserve/money-in-the-bank has been put aside to sustain one's lifestyle. While not a requirement, it is also beneficial to a trader if they can decrease their risk while increasing their position size. This will have the overall effect of increasing their gains, and decreasing the risk involved in any one trade or series of trades, thus allowing them to increase their gains even further. Electric knows the concept well and it is just one of the many concepts that he uses to his advantage when trading. Perhaps having a toolbox of such tricks leads him to the belief that trading is in fact, not gambling, but it is folks, it is ... there is just an ultimate risk-of-ruin/blowout/failure of single digits, that's all. Regards, JJ
Trading is not any different than the days I was hooked online to the Travgallopp for 2 years while living in Sweden through PostNet. When I was a professional Gambler was no different than when I became a professional Trader, no matter where I live...ohhh.. Trading is Gambling ...pure and simple...UNLESS ... what say you...