Do You Think Trading is Gambling?

[Dackster]

Quote from ElCubano:

think about if it really wasn't gambling...it'd be 95% make it and 5% don't ...considering the cost to entry into this industry....peace

People fail at all kinds of things in life. The 'free markets', nobody said it was going to be easy, think of the competition. Besides, it's a harsh environment to the beginner, the beginner is used to f*cking up at work for it to be swept under the carpet, not so in trading, they lose money, it's not good for the head.


Most leave licking their wounds, never to return.

 

[BSAM]

Quote from nyustudent:

OMG thats a GREAT point! Even their own definition doesnt support their claim that trading is gambling.

Plus their arguments are getting so ridiculous. Now they want us to believe that flying on an airplane is gambling just because there is always some small chance that it might crash? Get real dudes! Is eating also gambling just because there is always a small chance that you might choke and die?

Take a deep breath young man. Please check in the dictionary for the definition of "gamble".

Some gambles are more risky than others. Is getting on an airplane a bigger gamble than blackjack? I'd say no. Is eating a bigger gamble than betting on the Lions to win the superbowl next year? I'd say no.

Yet, you can crash on an airplane. You can choke when you eat. And the Lions (gulp) could win the superbowl next year. Pretty simple to understand, huh?

 

[BSAM]

Quote from Jachyra:

The debate switched to "chance" because the first two definitions of gambling both indicated that the results had to be dictated by chance... so obviously the definition of it became important.

But fine... for the sake of argument lets just say we take your definition.... that its gambling anytime the results are uncertain. I would still contend that if you consistently take more +EV trades than -EV trades, over the long run, the end result is CERTAIN... you will make more money than you lose.... GUARANTEED. If you take more -EV trades than +EV trades, in the long run, you will lose more money than you make.... GUARANTEED. The end result is very easy to predict and the outcome of doing either is very certain... and that is a statistical fact.

So, even using your own definition or connotation of the word, at best all you can say is that any one trade or any small number of trades are gambling. But that once you have enough trades to have a sufficient sample size, it can not possibly be gambling because whether you made or lost money, the outcome was certain and predictable in advance.

What he is doing here is showing, (as has been pointed out) that if you know how to gamble you can make money in the market.

Jachyra, you're a gambler; not a fortune teller. If your outcome in your trading is certain, why don't we see your name on the Forbes 400 list? I mean you have an ATM machine, right? The reason is because you lose too many times, just like most all participants. I'm not saying you are not profitable. That's not the issue. I'm saying you are gambling good sometimes and not good other times.

 

[JSSPMK]

Quote from BSAM:

...why don't we see your name on the Forbes 400 list?...

Isn't Buffett still there?

Forbes 400 is full of people that take risks using favourable odds.

One thing for certain, ain't no gamblers in that list...

Still checking

P.S. Unlike investing, trading short term, especially when using your own capital, is more of a well paid job.

 

[BSAM]

Quote from JSSPMK:

.....Forbes 400 is full of people that take risks using favourable odds......

Er, uh, hmmm.....Wouldn't that constitute ga....No, no that.....that couldn't be gambl.....gambling?.....Or, could it???

Lions, and tigers, and bears, oh my! I'm so confused. ;>)

 

[ElCubano]

Quote from BSAM:

Er, uh, hmmm.....Wouldn't that constitute ga....No, no that.....that couldn't be gambl.....gambling?.....Or, could it???

Lions, and tigers, and bears, oh my! I'm so confused. ;>)

Not if you make money, Baby!!!!!!!!!!!!!!!!!!!!!

 

[JSSPMK]

Quote from ElCubano:

Not if you make money, Baby!!!!!!!!!!!!!!!!!!!!!

Bingo!

 

[BSAM]

Quote from ElCubano:

Not if you make money, Baby!!!!!!!!!!!!!!!!!!!!!

Oh yeah, I forgot. If you make money then it's not gambling, it's an "odds based business", right??

 

[nyustudent]

Quote from JSSPMK:

I believe this discussion has now reached its apex, because BSAM has said that he considers all business activities, because they carry uncertain outcomes, a gamble. You say tomato, I say tomA'to, know what I mean?

This pretty much sums it up.

Except I would take it one step further. With the exception of dropping an object from his hand and being certain that gravity will make it fall to the ground, it doesn't seem as though there is anything at all in this world that he wouldn't consider gambling since the outcome of everything is uncertain.

 

[Jachyra]

Quote from nyustudent:

This pretty much sums it up.

Except I would take it one step further. With the exception of dropping an object from his hand and being certain that gravity will make it fall to the ground, it doesn't seem as though there is anything at all in this world that he wouldn't consider gambling since the outcome of everything is uncertain.

+1

And don't forget how its impossible to have a constructive conversation with someone who insists on misrepresenting what other people say and consistently puts words in other people's mouths.