Casino gambler flops :Paulson's fund lost 46 %

I find it amusing how more and more people with a claimed connection and involvement with the global financial markets refer to it with such words as " gambling " and " casino ".

I remember a time that would have caused offence among traders, what I find even funnier are those who point there fingers at others with those claims whilst they are engaging in the exact same activity, all the while thinking they are different...
 
Quote from sheda:

I find it amusing how more and more people with a claimed connection and involvement with the global financial markets refer to it with such words as " gambling " and " casino ".

I remember a time that would have caused offence among traders, what I find even funnier are those who point there fingers at others with those claims whilst they are engaging in the exact same activity, all the while thinking they are different...
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Some of us know it is gambling or betting red or black all day , we accept the fact we are speculating for loss or profit.This is not trading , but betting on the form of the horses .The euro /usd , S and P , and oil are like race-horses.


Worse is that some of us are deluded to believe we are trading on known outcome.

Worst thing is investment bankers putting people's pensions on the roulette.
 
Quote from oilfxpro:

Some of us know it is gambling or betting red or black all day , we accept the fact we are speculating for loss or profit.

Worst thing is investment bankers putting people's pensions on the roulette.
More...

If that is the nature of the market I do not see what is so "bad" about bankers trading for peoples pensions. It would just be the system we have, growing capital for to be put to a specific purpose at a later date whilst using it for the most productive purpose now, investment and economic growth. Sure this contains risk, as does the entire economic system.

As to your own comments towards the euro/usd.. I could not trade it if I had such an unsettling perception. I do not see my self as gambling, I have seen the set ups I trade what, it must be a few thousand times now? It can go up or it can go down, some times it can go berzerk yet what ever happens any lose is due to my negligence caused by reactions that weren't sufficient to get the job done.

I suppose it would be nice to be able to put my loses down to the nature of the system, but then I could not do anything about it where as now any trading lose is followed by an increase in focus and a decrease in loses.

I suppose we cant get a feel of how we each approach the market unless we were sat next to each other, good trading to you anyway.
 
Quote from oilfxpro:

Some of us know it is gambling or betting red or black all day , we accept the fact we are speculating for loss or profit.This is not trading , but betting on the form of the horses .The euro /usd , S and P , and oil are like race-horses.


Worse is that some of us are deluded to believe we are trading on known outcome.

Worst thing is investment bankers putting people's pensions on the roulette.
More...

I find it interesting that the posters who seem to have the least amount of success are the ones who make the largest generalizations about trading. Those who seem to have developed a successful approach tend to speak much more cautiously about it and avoid grand pronouncements on its nature.
 
Trading is the art of tricking stupid people out of their money.

The purpose of manipulating price upward is to attract buyers. How many buyers are attracted on the move determines how long the manipulators will let the move run before they take profits and short the move back down to collect stops before the next trade sequence.

The purpose of the movement of price is the transfer of money from one persons hands to the other.

Unlike normal trading in the real world... In stock market trading price is lifted to artificial levels and people are sold shares at overpriced values, then price is dropped back down and they panic out and the shares are bought back by the original parties forming support... In addition the group running the stock like to establish shorts and push it down from it's high if possible and cover them also helping form the support accumulation area.

That is trading. :cool:


The reason price retraces continually as it trades in a direction especially in futures is that stops need to be collected on both sides of the market continually. So price presses up and down in sequences as it trends.

If price were to move steadily in a direction a move is generally unhealthy or "parabolic"... Developing so many trailing stops and weak longs that when it starts to retrace it blows off violently.



Even though many people believe there is a set group of manipulators like there was in stocks back in the 30's and 40's... Nowadays I think we have a set percentage of people... 5-10% of people in an instrument who understand and help run the market patterns together following the same rules like a wolf pack.

Anyone who is an outsider to the game just gets shredded.

Read the Taylor Trading Technique... He understood how the market trade sequencing process worked very well.
 
Quote from oilfxpro:

How many of you on E T are deluded , that you are not gamblers?
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The market isn't gambling if you know how it's rigged and are an insider. No real trader is going to hold a position through wildcard events like EU meetings.

Approximately 95% lose all of the time and 5% win all of the time. Go see if you can figure out why. :cool:
 
Quote from RangeTrader:

The market isn't gambling if you know how it's rigged and are an insider. No real trader is going to hold a position through wildcard events like EU meetings.

Approximately 95% lose all of the time and 5% win all of the time. Go see if you can figure out why. :cool:
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I'm a real trader that was long , dun care about meetings, held through it

dat said, i also held long through downgrade :D :D :D

won some lose some
 
Quote from oilfxpro:

How many of you on E T are deluded , that you are not gamblers?
More...

How many of you on ET who consider trading gambling are profitable?

Since profitability is the primary concern of a trader, whether he thinks trading is gambling or not is secondary, no?

If I think trading is gambling, yet I am profitable, then my opinion has at least some credibility.

If I think trading is gambling, but I am unprofitable, my opinion is worth no more than that of the man on the street.

If I think trading is not gambling and I am profitable, my only legitimate debating partner is the profitable trader who thinks it is gambling.

Bottom line is that if you are unprofitable, your opinion on the nature of trading is irrelevant.

If you are profitable and you consider trading gambling, you need to show that by showing how your profitable method is the same as gambling. My educated guess is that no trader who is profitable would consider trading the same as gambling, at least not in the sense of gambling as roulette. Gambling as poker or blackjack? Sure, with the obvious caveat that there are some subtle differences and there are risks in trading that don't exist in card games.

That is why I said that there seems to be a distinct correlation between one's P&L and one's opinion on the question of trading as "gambling". In fact, I would go further and say it isn't correlation, but actual causation. If you are not profitable, then you may end up believing that trading is gambling. If you are profitable, you know that trading isn't gambling.

So, only unprofitable traders think trading is gambling and those who listen to unprofitable traders get what they deserve, i.e. nothing.
 
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