Do You Think Trading is Gambling?
- Thread starter nysestocks
- Start date
I live in the Hamptons, as a young man I worked for a landscaping company that took care of large estates.
A fair percentage of said estates were owned by people involved with Wall Street and trading.
Not ONE was owned by someone who hit it big at a casino.
So I got involved with trading, and it has served me well.
I rarely go to casinos, maybe once a year for entertainment.
Do you think trading is gambling?
If you do, you should not be trading. You should stick to the casinos.
A fair percentage of said estates were owned by people involved with Wall Street and trading.
Not ONE was owned by someone who hit it big at a casino.
So I got involved with trading, and it has served me well.
I rarely go to casinos, maybe once a year for entertainment.
Do you think trading is gambling?
If you do, you should not be trading. You should stick to the casinos.
To the readers who believe that trading is gambling I write this:
There is nothing wrong with losing trades as they are to be expected. Being wrong in the markets is part of trading, but how you can destroy yourself in trading is STAYING WRONG. The major difference between amateur investors who are mostly losers in the markets and professional traders who take much of what amateurs lose, is that amateurs because of unresolved ego problems will stay wrong while professional traders CUT THEIR LOSSES QUICKLY. (mg)
Professional traders are not gamblers, especially the ones that have been making money for many years. Just like I wrote before, unless you have an edge YOU ARE THE GAMBLER, and not the party who takes the opposite side of your trade.
Pro trading is not gambling by far. And just because some of you gamble your money it does not mean that everyone else is doing the same or that everyone else just got lucky.
One can be lucky sometimes but not all the times. The moment you do not give respect and credit to someone who has been making money in Wall Street for 10 + years, ( and there are a few people like that ), it shows that your ego is just too big and you live in a distorted reality. While you gamble your money someone else is trading smart.
There is nothing wrong with losing trades as they are to be expected. Being wrong in the markets is part of trading, but how you can destroy yourself in trading is STAYING WRONG. The major difference between amateur investors who are mostly losers in the markets and professional traders who take much of what amateurs lose, is that amateurs because of unresolved ego problems will stay wrong while professional traders CUT THEIR LOSSES QUICKLY. (mg)
Professional traders are not gamblers, especially the ones that have been making money for many years. Just like I wrote before, unless you have an edge YOU ARE THE GAMBLER, and not the party who takes the opposite side of your trade.
Pro trading is not gambling by far. And just because some of you gamble your money it does not mean that everyone else is doing the same or that everyone else just got lucky.
One can be lucky sometimes but not all the times. The moment you do not give respect and credit to someone who has been making money in Wall Street for 10 + years, ( and there are a few people like that ), it shows that your ego is just too big and you live in a distorted reality. While you gamble your money someone else is trading smart.
It sounds like you don't understand gambling. To be more specific, it sounds like you don't understand professional gamblers that consistently make a profit.
I rewrote your post to emphasize my point:
To the readers who believe that professional gambling is really gambling I write this:
There is nothing wrong with losing bets as they are to be expected. Being wrong in the casino, home games, online, etc is part of gambling, but how you can destroy yourself in gambling is STAYING WRONG. The major difference between amateur gamblers who are mostly losers in the casinos, home games, online, etc. and professional gamblers who take much of what amateurs lose, is that amateurs because of unresolved ego problems will stay wrong while professional gamblers CUT THEIR LOSSES QUICKLY. (mg)
Professional gamblers are not really gamblers, especially the ones that have been making money for many years. Just like I wrote before, unless you have an edge YOU ARE THE GAMBLER, and not the party who takes the opposite side of your gamble.
Pro gambling is not gambling by far. And just because some of you gamble your money it does not mean that everyone else is doing the same or that everyone else just got lucky.
One can be lucky sometimes but not all the times. The moment you do not give respect and credit to someone who has been making money in casinos, home games, online, etc. for 10 + years, ( and there are a few people like that ), it shows that your ego is just too big and you live in a distorted reality. That's why you gambled your money in the first place instead of playing smart.
and again I strongly diagree, my opinion is that professional trading is not gambling in any way shape or form.
Who has been making money in online gaming and casinos for 10+ years ? I am waiting for the names. Do you know who really made money ? The casino ! On the other hand there is a list of pro traders with names and last names do you want me to get it for you ?
Who has been making money in online gaming and casinos for 10+ years ? I am waiting for the names. Do you know who really made money ? The casino ! On the other hand there is a list of pro traders with names and last names do you want me to get it for you ?
Quick trivia question. PIMCO's billionaire investor Bill Gross was one of the first blackjack players to do what?
Which game would you like me to start with? Poker or blackjack?
Very interesting question.
I deliberately did not vote because I believe trading has elements of both.
These days, I've come to believe that trading has alot of gambling in it.
Alot of people will absolutely assail this idea and say that trading is not gambling, but they're just fooling themselves.
Of course, over the long run, a good trader can make money. But my belief is that there are very few good traders who make money consistently.
I deliberately did not vote because I believe trading has elements of both.
These days, I've come to believe that trading has alot of gambling in it.
Alot of people will absolutely assail this idea and say that trading is not gambling, but they're just fooling themselves.
Of course, over the long run, a good trader can make money. But my belief is that there are very few good traders who make money consistently.
You might have some names, but there are by far many more names in the trading world. I am pretty sure you don't have any name for " online gaming" . I agree that there are some similarities between trading and gambling, but to go as far as say that it is the very same thing...no. In trading the gamblers are the people who lose money not the ones who make money.
Another quick question. Read any George Soros? Watch any of his interviews? Does he usually call his positions investments or bets?