A gambler in my definition is a person who speculates with the odds against them. In the long term, the house will always win, by pure statistics. This makes gambling, in my view, a pointless exercise and something that people do when they want entertainment. Anyone who runs a business soley based on luck is not really conducting business. That is one of the main reasons I dislike the constant parallels between trading and gambling. One is a serious for profit business, the other is entertainment. For some reason I've discovered that there are people who don't believe its possible to daytrade profitably. Maybe for them its not possible, but you're going to have a hard time explaining how Marty Schwartz averaged a 25% independently audited monthly return doing just that. Obviously the odds are in his favor and he has a profitable business.
This is about making money, not about trust. I like the following model: 1. teacher show student a sample of real-time trade signals (around 25). 2. If student like it, afterwards real trading is made. 3. Teacher is paid from profits. I have not traded forex for sometime. I am back, because I got a signal from my timing models. Shorted EUR/USD at 1.5060 less than one hour ago. We will see how I do. Check the thread. http://www.elitetrader.com/vb/showthread.php?s=&threadid=180428
Georgii: I daytrade equity/future profitably after 18 monthâs hardrock. It is possible, but it is hard and you have to understand that the odds are worst than blackjack for ALL TRADES on AVERAGE, and for the profitable traders, they have to beat this negative sum game day in and day out, and the only way you can do this is to treat every trade as a bet (gamble) and develop a system to beat the odds. In day trading, the odds ARE against you! And the odds are probably less than 45% on average for every trade! Worst than gambling! The sooner you understand this, the better you will understand how to make the odds in your favor. 95% or more has to be unprofitable, IT IS pure statistics after millions of trades, less the commission and the fees. Marty Schwartz is a great trader who understands the odds and plays accordingly.
"45%, negative sum, worse than gambling".......sounds to me like you don't even understand the game let alone how to play it!
Outside ET I fully trust the HERD when they cross 95% bullish or bearish - do the opposite. Inside ET, I'm new but have no problem trusting 2 individuals thus far TraderZones, a fellow with a particularly intemperate disposition but I believe, an excellent mentor. Some posts are sheer poetry. Should be made into an ebook. Thanks to him. Cabletrader, for forex agility. Quicker on the draw than the outlaw, Josey Wales. Both guarantee a good internship here at ET. Short list? Yeah.
It was to get you to take the opposite side of my trade. I thought you might one of the guys who say, "I will take the opposite side of your trade". Shorted EUR/USD at 1.5060 on Sunday evening on this thread at link below. 350PIPS so far! http://www.elitetrader.com/vb/showt...threadid=180428
You were a bit late to the party, I've been selling, buying back, selling, buying back, selling etc etc etc.....since the beginning of last week. 630 pips so far, give or take. But how is any of this related to the thread topic? Not that it really matters but that's why I asked what it had to do with anything. (....by the way your link doesn't seem to work! )