Automated Trading Is Gambling

johnnyrock said:
Parimutel wagering, poker and even blackjack do not have odds stacked against you if you are a professional player.

Same thing can be said about the market.
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Then it's not gambling if you're also profitable over the long-run.
 
Simples said:
What is your definition of gambling?
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Not the same as Google's, it's too general and doesn't take into consideration objectivity/subjectivity, expected outcome, odds, probability, certainty/uncertainty, long run, short run.

I think my previous posts indicate how I've defined it.
 
lovethetrade said:
Not the same as Google's, it's too general and doesn't take into consideration objectivity/subjectivity, expected outcome, odds, probability, certainty/uncertainty, long run, short run.

I think my previous posts indicate how I've defined it.
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So gambling, according to you, is losing over the long run?
 
d08 said:
One type you described is rather likelihood and has a basis to expect something by applying knowledge and logic.
The other one has nothing to support it.

I can't say it makes sense to describe both with the same word.
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well you made emphasis on hope in definition on gambling , and I just explained that everybody is hoping regardless what is the basis for that hope.

imho when people talking about gambling as an opposite to non-gambling what they usually imply ( sometimes without realizing it ) is that gambling has quite high probabilities for person to loose....

most people operate in the in environment where odds are overwhelmingly in their favor (still gambling) , so they even do not think about it in terms of probabilities

that is why for the average Joe only casino or trading is gambling
 
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