Do You Think Trading is Gambling?
- Thread starter nysestocks
- Start date
There is no "gambling" activity where one could do that.
Trading is a game if SKILL!
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Take case of most famous operator
Martin Schwartz,Mark D.Cook ,Mark Minervini
1. They all are professional ,no retail
2. Mark D.Cook was near bankruptcy
Martin Schwartz loosed multiple years
After that Martin Schwartz performed some 30 time'S in three years on start capital in today price more as 100 000 $
But operators ,mentioned above,statisticaly one from 1-10 mln .
How many professional with equal qualification
loosed the game ?
On one Martin Schwartz ,which won with mutiple years loss in trading records ,exist multiple
hundreds professional#s ,which loose
It is fight with windmill
http://www.youtube.com/watch?v=0EXYcG9f3Uo
Trading is a game if SKILL!
##########################
Take case of most famous operator
Martin Schwartz,Mark D.Cook ,Mark Minervini
1. They all are professional ,no retail
2. Mark D.Cook was near bankruptcy
Martin Schwartz loosed multiple years
After that Martin Schwartz performed some 30 time'S in three years on start capital in today price more as 100 000 $
But operators ,mentioned above,statisticaly one from 1-10 mln .
How many professional with equal qualification
loosed the game ?
On one Martin Schwartz ,which won with mutiple years loss in trading records ,exist multiple
hundreds professional#s ,which loose
It is fight with windmill
http://www.youtube.com/watch?v=0EXYcG9f3Uo
Readiness for risk in most of the case related
to social group of operator ,but not related to scientific point of view
If retail operator would loss long term through
multiple operations with small risk ,social
group of small citizen would say -okay
If operator would lose 100% with one operations
this social group would say -gambling ,against
norm of moral
But from scientific point of view -if objective of operator good win under contitions of no edge
scientfic point of view
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limited /very limited qunatities of operations
with heavy bet(risk 50-100%)
That would not accepted from moral of social group of small citizen's
Long game ,under contitions -no edge
make chance for loss more .
If operator going to casino and make small bet
(1% from capital) infinitly he would lose ,as casino have advantage 51.60 to 48.40 (in Montecarlo event game)
to social group of operator ,but not related to scientific point of view
If retail operator would loss long term through
multiple operations with small risk ,social
group of small citizen would say -okay
If operator would lose 100% with one operations
this social group would say -gambling ,against
norm of moral
But from scientific point of view -if objective of operator good win under contitions of no edge
scientfic point of view
###################
limited /very limited qunatities of operations
with heavy bet(risk 50-100%)
That would not accepted from moral of social group of small citizen's
Long game ,under contitions -no edge
make chance for loss more .
If operator going to casino and make small bet
(1% from capital) infinitly he would lose ,as casino have advantage 51.60 to 48.40 (in Montecarlo event game)
Of course. 100% positive.
In a gambling game, the house has an edge with the odds. A gambler is attempting to win in the short run against the odds. (And then quit before the odds catch up with him.)
In the long run, [nearly] all gamblers lose if they play long enough.
How else would they build all of those casinos?
I have played blackjack for a living and that wasn't gambling either.
You can gamble but not if you are a professional. As my mentor Jerry Simmons says "it is an exercise in odds and probabilities" or as I say it "applied statistics".
You will not win 100% of the time but you should win more than you lose. You may have a setup which is 70% profitable or win 7 out of 10 times. you will win in the long run. Which 3 are the losers you will never know before hand. You can also have 10 losses in a row, that is statistical variation, you can also have 10 winners in a row. But play 100 setups and you should come close to 70 wins and 30 losses.
Gambling is if you are trading and don't know what you are doing. You won't be gambling but losing.
You can gamble but not if you are a professional. As my mentor Jerry Simmons says "it is an exercise in odds and probabilities" or as I say it "applied statistics".
You will not win 100% of the time but you should win more than you lose. You may have a setup which is 70% profitable or win 7 out of 10 times. you will win in the long run. Which 3 are the losers you will never know before hand. You can also have 10 losses in a row, that is statistical variation, you can also have 10 winners in a row. But play 100 setups and you should come close to 70 wins and 30 losses.
Gambling is if you are trading and don't know what you are doing. You won't be gambling but losing.
I am sure there are many that could disprove what you wrote. I have found that when someone makes the above statement about gambling, they are usually referring to the fixed-odds Vegas type gambling such as craps and roulette.
I make money most days.. nearly all weeks and months... and year after year on live sportsbook betting. I am sure there are many others and others that profit from blackjack, poker, horseracing and jai alai.
Do I have a "skill" or am I just "gambling"?
Joe.
I have played blackjack for a living and that wasn't gambling either.
You can gamble but not if you are a professional. As my mentor Jerry Simmons says "it is an exercise in odds and probabilities" or as I say it "applied statistics".
You will not win 100% of the time but you should win more than you lose. You may have a setup which is 70% profitable or win 7 out of 10 times. you will win in the long run. Which 3 are the losers you will never know before hand. You can also have 10 losses in a row, that is statistical variation, you can also have 10 winners in a row. But play 100 setups and you should come close to 70 wins and 30 losses.
Gambling is if you are trading and don't know what you are doing. You won't be gambling but losing.
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It is definitly lies
Who interessed ,can read good book -Mathematic
of playing blackjack
You can gamble but not if you are a professional. As my mentor Jerry Simmons says "it is an exercise in odds and probabilities" or as I say it "applied statistics".
You will not win 100% of the time but you should win more than you lose. You may have a setup which is 70% profitable or win 7 out of 10 times. you will win in the long run. Which 3 are the losers you will never know before hand. You can also have 10 losses in a row, that is statistical variation, you can also have 10 winners in a row. But play 100 setups and you should come close to 70 wins and 30 losses.
Gambling is if you are trading and don't know what you are doing. You won't be gambling but losing.
#####################################
It is definitly lies
Who interessed ,can read good book -Mathematic
of playing blackjack
I make money most days.. nearly all weeks and months... and year after year on live sportsbook betting. I am sure there are many others and others that profit from blackjack, poker, horseracing and jai alai.
Do I have a "skill" or am I just "gambling"?
Joe.
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It is definitly lies
1. Retail have no any edge
Profesisonal taked spread ,used foreign money and use information ,which
retail received (in best case) some later
2. - spread,-commission -tax
Great win by retail possible rare and sued for propaganda
Take statistic from fxcm king of the micro
http://www.forexmicrolot.com/king-micro-trading-contest.html
For last 5 years some 300 000 man -attempts
Last time approx 10 000 attempts per month
Best result 2300 % on 500 $
on capital 2800 $ some 1500 %
some 5 results 800-900%
some 10 results 500 -700%
But more as 90% would lose to end of the year .
You can monitor development of contest -best 10 winner and 10 loosers each day
https://secure.ibfx.com/contest/contestresults.aspx
Do I have a "skill" or am I just "gambling"?
Joe.
#####################
It is definitly lies
1. Retail have no any edge
Profesisonal taked spread ,used foreign money and use information ,which
retail received (in best case) some later
2. - spread,-commission -tax
Great win by retail possible rare and sued for propaganda
Take statistic from fxcm king of the micro
http://www.forexmicrolot.com/king-micro-trading-contest.html
For last 5 years some 300 000 man -attempts
Last time approx 10 000 attempts per month
Best result 2300 % on 500 $
on capital 2800 $ some 1500 %
some 5 results 800-900%
some 10 results 500 -700%
But more as 90% would lose to end of the year .
You can monitor development of contest -best 10 winner and 10 loosers each day
https://secure.ibfx.com/contest/contestresults.aspx