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Luck wasn't the topic...the question was, "Would it be gambling to bet on it"? And I say...no...hehe

...to trade? lol

I guess it's just our definition of "Gamble" that differs. Just to take an extreme example, If I was sitting at a card table and I had the elusive royal flush(the best hand in poker) in my hand, I wouldn't think of it as a gamble to "raise the bet", because the odds are waaaayyyy in my...

Trying to learn?

I realize that is the question. I was just responding to ElCubanos post that it's all gambling...period. I don't agree...

Isn't that kind of high for a favorite? I've never bet on horses, but I always thought the favorite paid a lot less. You know, something like putting up 2 dollars to make a dollar.

Depends on the odds...if the odds are against you, you're gambling. If the odds are in your favor, you're speculating. This is how Vic puts it..."Gambling is taking a risk when the odds are against you, like playing the lottery or pumping silver dollars into a slot machine. Speculating...

I don't gamble...I speculate.

I posted this a few days ago...not sure if you caught it or not. I think it's an excellent analogy... Why most traders fail?

That's just the way I was taught to trade them. I was tutored by Mr. George Lane about 12 years ago. Some consider him to be the authority on stochastic. I was taught to wait until price makes a lower low or higher high. I know what you're saying, though. Just like yesterday, I missed two...

Sounds good...enjoyed today. Here's a couple of quotes from one of my favorite traders. "Anyone who enters the financial markets expecting to be right on most of their trades is in for a rude awakening. It's a lot like hitting a baseball-the best players only get hits 30 to 40% of the...

Shoot, just missed another one...hehe But, the important thing is to get at least at 2-1 ratio on your trades, but I would say a 3-1. But, I think you'll just find you're spinning your wheels with a 1-1 ratio. Anyway, best of luck!

I don't know dude. Could be...but I don't really get into all that. I'd just look for Dbl bottoms and Dbl tops on the charts and trade them.

Yea, I was watching it, but I like my Dbl bottoms to make a lower low. Just missed it by a tick.

No problem...if I get another setup today, we'll try another one.

You might be thinking of someone else...I never said to fade a 30 minute BO. We were talking about just fading BO's on a 133 Tick chart on another thread. I was saying you could just fade breakouts instead of waiting for a divergence from an oscillator. Just go short when price breaks the...

You're trades are fine...actually I'm impressed. But, your money management is wrong. You're probably going to be right about 50% of the time(if you're good) over the long run. And if you're risking a hundred bucks to make a hundred bucks, you're going to breakeven... at best. Try to make...

Even if you make it this time...risking 2 to make 2 isn't going to make it over the long run, chief.

Scratched it...