Speculating vs. Investing
I consider myself a serious trader. I was having a discussion with a friend of mine who calls himself an 'Investor'. So I asked him,
"What's the difference between a trader and an investor?" He replied,
"I don't know, let me think about it for a while . . .â
A trade is when you take a small winner.
An investment is when a trade turns into a huge loser.