addiction

[Champion]

Quote from NY0BScalper:

I'm a total junkie. I'm on elite now because my mind is running 100 thoughts/second visualizing level II patterns and I delude myself into thinking there will be meaningful conversations related to my trading mind found ont his chat board.

I think all great traders are addicts, to some degree or another.

The question is if you make money or not... or if you are working towards it. If you're going nowhere, you need help. If you're making money, you need a hobby. At least I do.

Here might be a way to think about it. Its an addiction until you have found the way to make yourself rich from the market. A sound methodology stripping out a major part or most of the profit in each days swings (ES,YM, CL), open to close, means you can, with wealth, move on and be able to have your own assistants to train and operate in markets for your own enterprise for your greater gain. I will go to the tiniest detail if I need to but I never lose sight of the big picture.

 

[Redneck]

Quote from nysestocks:

Any time you put your money at risk you are gambling, whether you like it or not!

When gambling it is better to lose small and have your winners bigger, not necessarily more than, your losers!

Daytrading is over rated.

Think of it this way, it is a mugs game to the extent that you let it become so.

Order routing, tape reading, TA, etc, etc, etc, can and do, create an illusion which can prevent you from doing what you need to do!

FWIW

On a kind of superficial conscious level I see what you’re saying about gambling being "like"trading … but on a sub-conscious, fundamental level – I am the most gambling adverse person I know

I’ve been to Vegas – and never gambled, not even one penny…., I don’t buy lottery tickets, I won’t even place bets with my friends - ever

With regard to trading – I deal with probabilities and risk management - period


So in my head I can’t equate trading to gambling...


Take Care

 

[nukethewhales31]

Quote from Redneck trader:

FWIW

On a kind of superficial conscious level I see what you’re saying about gambling being "like"trading … but on a sub-conscious, fundamental level – I am the most gambling adverse person I know

I’ve been to Vegas – and never gambled, not even one penny…., I don’t but lottery tickets, I won’t even place bets with my friends - ever

With regard to trading – I deal with probabilities and risk management - period


So in my head I can’t equate trading to gambling...


Take Care

me neither i went to atlantic city with a couple of my friends in college and sat at a slot rolled pennies all night long and really wasnt a fan.

 

[Thunderdog]

Quote from Champion:

Here might be a way to think about it. Its an addiction until you have found the way to make yourself rich from the market. A sound methodology stripping out a major part or most of the profit in each days swings (ES,YM, CL), open to close, means you can, with wealth, move on and be able to have your own assistants to train and operate in markets for your own enterprise for your greater gain. I will go to the tiniest detail if I need to but I never lose sight of the big picture.

You are an unbelievably mindless poseur. Catching the major part of each day's swings? Dream on. And if you believe that such (unsustainable) performance is required to do well in the markets, then you are clueless and DO NOT TRADE.

 

[Redneck]

Quote from Thunderdog:

You are an unbelievably mindless poseur. Catching the major part of each day's swings? Dream on. And if you believe that such (unsustainable) performance is required to do well in the markets, then you are clueless and DO NOT TRADE.

I wondered if anyone else caught that

 

[Loki]

Many "investors" are in it for thrills and deny it is gambling. If you do not have an edge (and 90% of stock investors do not) you are a gambler- not an investor/trader. Most stock investors are compulsive gamblers, but would deny it if you asked them.

 

[Redneck]

Quote from Loki:

Many "investors" are in it for thrills and deny it is gambling. If you do not have an edge (and 90% of stock investors do not) you are a gambler- not an investor/trader. Most stock investors are compulsive gamblers, but would deny it if you asked them.

You want to bet me - that I'm not a gambler

 

[nysestocks]

I used to think that trading was not gambling, and would argue with anyone who said otherwise!

Then, after losing some money, no matter how hard I tried otherwise, my mind was easily changed for me.

Probable means maybe, maybe means might happen, might happen means not certain, not certain means no guarantee, and no guarantee means a gamble!

You can either accept it, and improve on your trading, as gambling requires a very different approach to wishful thinking, or you can continue to argue and see where it gets you.

If you are happy with where it gets you, then fine, as all will have their own desires to fulfil.

 

[Redneck]

Well then by you definition, and since nothing in life is a guarantee – including life itself – (that is except death and taxes of course)....

Then everyone that is walking, or who has ever walked, on the face of the earth is a habitual gambler….

That’s it “EVERYONE” sign up for gamblers anonymous immediately…..

Hmmmm.... I wonder if there’s a Gamblers anonymous Stock or ETF

Lord help us all

 

[nysestocks]

Of course life is a gamble, and those who do better than others, in all walks of life, do so for a reason!

That reason can vary, depending on the chosen path, and all those who succeed, have what are called common traits, some that they learn to use, and some they learn to lose.

One common trait that they learn to lose is stubbornness, for they quickly see that it can lead to many bad decisions on the path to success!