Do You Think Trading is Gambling?

[nyustudent]

Quote from ElCubano:

NYU

1) can you garauntee that the outcome of 500,000 consecutive trades over the course of many years will be a positive outcome?? when you are done answering that...print it and shove it up your professor's ass....good day

Wow, you really don't understand statistics or the meaning of the word gamble do you. That is one of the most random and irrelevant statements a person could make in the middle of this discussion. I guess you must have run out of legitimate arguments and are just grasping at straws at this point.

I'm not going to pick on you that much though because I feel bad for you. I can tell by the way you write that you're not formally educated like the other posters who are demonstrating that they've at least been to college (I mean they probably didn't graduate and only went to attend the frat parties, but at least they went). I think there is a good chance that you're just trying to fit in with the others.

But it would be helpful for someone with your education level to at least look up the meaning of some of these words in the dictionary that you're relying on, because its obvious that you don't know what the word gamble means. I know its a little larger than the usual monosyllabic words that you're used to grunting, but if you're going to masquerade as a trader for halloween with your friends you should at least learn to make it convincing.

 

[ammo]

Quote from SCI new york:

Do you even really go to NYU or is that as much horeshit as you being involved in equity markets? What makes you the expert?
You come on here insulting people and babbling on about this and that because your professor let you get a mouthful of his nuts, but you know nothing about the markets, and even less knowledge about trading. So since you are resorting to such childish insults, you show even more how little you know and how naive you are. It's ok kiddo, dont worry. I'm sure your mommy will wipe your ass for you some more. But when you grow up and you want to actually think for yourself and get involved in things like trading, try contributing something real before being a douchebag.

so your rants are a contribution?

 

[ElCubano]

Quote from nyustudent:

Wow, you really don't understand statistics or the meaning of the word gamble do you. That is one of the most random and irrelevant statements a person could make in the middle of this discussion. I guess you must have run out of legitimate arguments and are just grasping at straws at this point.

I'm not going to pick on you that much though because I feel bad for you. I can tell by the way you write that you're not formally educated like the other posters who are demonstrating that they've at least been to college (I mean they probably didn't graduate and only went to attend the frat parties, but at least they went). I think there is a good chance that you're just trying to fit in with the others.

But it would be helpful for someone with your education level to at least look up the meaning of some of these words in the dictionary that you're relying on, because its obvious that you don't know what the word gamble means. I know its a little larger than the usual monosyllabic words that you're used to grunting, but if you're going to masquerade as a trader for halloween with your friends you should at least learn to make it convincing.

oh please dont pick on me; Mr. NYU. Me's only a little guy. I'll take that as a no to my question. And the meaning in the dictionary has been posted on this thread several times and it contradicts what you have been stating....

 

[Dackster]

Quote from nyustudent:

Wow, you really don't understand statistics or the meaning of the word gamble do you. That is one of the most random and irrelevant statements a person could make in the middle of this discussion. I guess you must have run out of legitimate arguments and are just grasping at straws at this point.

I'm not going to pick on you that much though because I feel bad for you. I can tell by the way you write that you're not formally educated like the other posters who are demonstrating that they've at least been to college (I mean they probably didn't graduate and only went to attend the frat parties, but at least they went). I think there is a good chance that you're just trying to fit in with the others.

But it would be helpful for someone with your education level to at least look up the meaning of some of these words in the dictionary that you're relying on, because its obvious that you don't know what the word gamble means. I know its a little larger than the usual monosyllabic words that you're used to grunting, but if you're going to masquerade as a trader for halloween with your friends you should at least learn to make it convincing.

Please,



Don't think you will be leaving this thread empty handed and bemused by some of the contributions, you have actually learned something about retail trading.



Some people actually believe they are gambling when trading...



It's not really that suprising is it?






Dackster.

 

[nyustudent]

Quote from SCI new york:

Do you even really go to NYU or is that as much horeshit as you being involved in equity markets? What makes you the expert?
You come on here insulting people and babbling on about this and that because your professor let you get a mouthful of his nuts, but you know nothing about the markets, and even less knowledge about trading. So since you are resorting to such childish insults, you show even more how little you know and how naive you are. It's ok kiddo, dont worry. I'm sure your mommy will wipe your ass for you some more. But when you grow up and you want to actually think for yourself and get involved in things like trading, try contributing something real before being a douchebag.

Actually I didn't come on this board to insult anybody. I was just trying to contribute to the discussion with actual facts. If you go back and read the posts it was you and your clan who is just making up fiction and trying to pass it off as fact, and it was you and your clan who first made it personal with your ad-homonym attacks.

And I never claimed to be the expert. If anything, you guys are the ones claiming to be experts. There are however many writings on this subject written by experts and I have read some of them, which is more than you can say for yourself. And there are professors with PhD's who I would consider closer to being experts than you, and I have listened to what they have to say, which again, is more than I can say for you. As a matter of fact, answer your own question. What makes you such an expert? You clearly think you know more than those more qualified and educated than yourself, so where do you get off being so arrogant -- other than compensating for your insecurities.

Even though I'm not an expert I do know one thing for a fact. If I came to your house on Monday to watch you trade for a week, by the time I left on Friday you would have less money in your trading account than when I got there.

 

[nyustudent]

Quote from Dackster:

Please,



Don't think you will be leaving this thread empty handed and bemused by some of the contributions, you have actually learned something about retail trading.



Some people actually believe they are gambling when trading...



It's not really that suprising is it?






Dackster.

Oh I have learned something -- I've certainly learned why traders have such a bad reputation -- because there are posers on message boards pretending to be traders while the real traders are off earning a living. Do these guys run off and hide when the traders come home at the end of the day or do they stay to rub their feet and get their drinks?

 

[JSSPMK]

Another poll's results, majority rules - not gambling LOL

http://www.elitetrader.com/vb/poll.php?s=&action=showresults&pollid=1767

Quote from Don Bright:

"I say" - " a lot of discussion about something that is really a personal opinion at best. Some trades are gambles, plain and simple...some are "calculated risks" (not much better), and some "trading" (vs. single trade) is a logical, rational approach to participating in the marketplace.

I count cards (not really gambling in the long run). I "gamble" on occasion when grabbing a couple thousand shares of a stock I know little about ...."just because" (gap down, gap up, "shouldn't go any lower/higher)... experience tends to lead to better "gambles" - but my primary trading is what I consider simple active participation from a position of strength (capital, education, experience, all the "good stuff").

FWIW,

Don

-------------------------

Quote from FuturesTrader71:

I know this has been posted before, but the word gambling is a bit of a general term:

[/i]
It all depends on your definition and perception of gambling. Based on this definition, can you think of anyone who has made money without taking some sort of a gamble?

Will buying an investment property to flip it and sell it for a profit a gamble? Aren't there adverse possibilities in the odds for or against that profit?

How about driving a truck for a living? Is that a gamble? You can quantify the probability of an accident and mortality rates? Is that a gamble?

How about starting a business? If you are not 100% guaranteed success and a positive outcome, then you must be gambling. Right?

The word gambling has the same taste in people's mouths as the word greed. They are both facts of life except when pursued recklessly and an in excess.

Just a few thoughts....[/B]

---------------------------------------------

Quote from Businessman:

All businesses have an uncertainty/gambling element, trading
is no different.

If you open a shop and it doesnt turn out to be viable are you
gambler?

The reason that people equate trading with gambling is that its
easy to slip into reckless gambling mode at any moment if you
havent learnt to do it properly.

--------------------------------

Quote from TraderRobb:

Would you consider owning a casino gambling?
The odds are in your favor but you can still lose. Does a chance of loss imply gambling? Not if the odds are in your favor.

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Quote from Don Bright:

Gamble, Schamble, what the heck else are any of us qualified for?

If bank account is higher at month end, then all is good with the World.

I think that consistency can help define whether something is a gamble or not. My brother started "gambling" with card counting back in the 1970's, made big money consistently, went to the stock market, made some, lost some, then made it consistently...

Make Money= Good No Make Money = bad.

(I hate to get so technical, but you know how I am, LOL).

Don

--------------------------------

Quote from mrmoose:

why is my buying a stock at 30.00 and hoping to sell it at 30,25 gambling but my buying a shirt at 5 dollers and hoping to sell it in a store for a profit not gambling?

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Quote from Johnnie T-Bond:

Gambling is playing a game when the odds of success are less than 50:50, i.e. casino gambling. Speculating is playing a game when the odds of success are greater than 50:50, i.e. trading a proven system using correct money management parameters and strong personal discipline. When a trader is using a proven system he is essentially rolling loaded dice and will make money over time as long as he keeps his risk exposure low - in the 1 to 2 % range per trade. While every trade considered by itself will be forever uncertain in the short-term, the trader's long-term success will be assured if he has the guts and confidence to follow a proven system religiously. Unfortunately, not too many traders seem to have developed the "right stuff" to do this and end up losing money by gambling instead of making money by speculating intelligently. Trading is a very hard business and many traders seem unwilling to invest the many years it takes to evolve from gambling and losing money to speculating and earning a great living.

--------------------------------------------

 

[SCI new york]

Quote from nyustudent:

Oh I have learned something -- I've certainly learned why traders have such a bad reputation -- because there are posers on message boards pretending to be traders while the real traders are off earning a living. Do these guys run off and hide when the traders come home at the end of the day or do they stay to rub their feet and get their drinks?

Do you even know how traders work? what they do? Or do you think because you put on cnbc in the morning and have a flat panel monitor that you are george soros?
You read the alchemy of finance and you all of a sudden have a complete grasp on all capital markets are you can start trading palladium and the nikkei in your spare time and make a zillion dollars from a thousand dollar e trade account. Your teacher told you to read market wizards and now you're nick leeson.
You read the books by the "experts" but you don't understand how things work in the trading world. If nick leeson would have been correct in his trading and made 1.3 billion dollars for barings he'd be an expert too, but because he lost it, hes a gambler/fool. T boone pickens is an oil "expert" but in truth he's just a guy that got lucky and hit it big. Now everyone thinks hes an oil God when he's not, hes a regular guy and doesn't have any special skills. He's also the so called "genius" that said oil was going to $200. Yea, REAL expert. If you want to go by what those guys say go ahead, I love seeing guys like you zero their accounts. You have no idea who I am and what I do, the amount I trade, how I trade or anything about my business nor anyone else's on this forum. So other than your little fans on here, you're still an infidel. You are a rookie in every sense and know nothing. This thread is about the correlation between gambling and trading, not your pathetic excuse for help or lack of knowledge other than your overuse of your econ 101 terms that you want to abuse. You have made no valid input into this thread and you are a waste of life. You are the poster child for abortion.

Trading is gambling. You can belive it, or you can not believe it. You can not disprove it. Links can be posted showing OPINIONS, and what is accepted to be common knowledge. But NO FACTS.
I have laid out clearly the definitions of risk, gambling, and investing in this thread. It should be clear if you can comprehend english that trading is a form of gambling. If you choose to belive otherwise go ahead, but that doesn't make you right.

I've grown tired of your mindless posts and weak arguments. Grow up kiddo. Finish up your little degree so it can do nothing for you. Keep trading that thousand dollars in your etrade account and buy your 5 shares of apple and think of yourself as knowing what its like to be a trader.

 

[SCI new york]

Quote from Johnnie T-Bond:

Gambling is playing a game when the odds of success are less than 50:50, i.e. casino gambling. Speculating is playing a game when the odds of success are greater than 50:50, i.e. trading a proven system using correct money management parameters and strong personal discipline. When a trader is using a proven system he is essentially rolling loaded dice and will make money over time as long as he keeps his risk exposure low - in the 1 to 2 % range per trade. While every trade considered by itself will be forever uncertain in the short-term, the trader's long-term success will be assured if he has the guts and confidence to follow a proven system religiously. Unfortunately, not too many traders seem to have developed the "right stuff" to do this and end up losing money by gambling instead of making money by speculating intelligently. Trading is a very hard business and many traders seem unwilling to invest the many years it takes to evolve from gambling and losing money to speculating and earning a great living.



This entire post is opinion. That is fact.

 

[ammo]

that post moes away from the pure activity of buying or selling,taking a gamble,if a horse bettor can read the sheets,or a card player knows the odds ,they increase their chances,but they are still gambling,i prefer to trade because of the edges you can find,but its still a gamble