Everything is gambling...

Quote from MasterGambler:

Trading is just statistical odds gambling. If you can get over 50% odds + additional percentage to exceed drawdown handicap + percentage odds to overcome commissions you are a master gambler!!!
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Statistical odds gambling? lol.

You seem to be changing the definitions as you go here.

I was breathing in air for many many years now... still alive, am I a master gambler too?

You should look up what gambling means before you thought of that cool handle and started a thread like this. Not doubting your trading ability, but if you have any edge, that's not gambling.

playing the odds, fine.

latez...

ps - Actually, you should dig in a bit and find out how Buffett really made his cash, clearly not gambling or trading much at first anyway.
 
Quote from NY_HOOD:

wrong wrong wrong.. if i am an engineer, a teacher, a cop, fireman, or a doctor, im not going to find out i lost 20 grand because my stop didnt get triggered, or buyers simply disappeared, or an intra day downgrade happened.
i also know how much i will make at the end of the week..unlike salesman that may not know how much he will make, at least he knows for sure he wont be losing 10 grand or even 200 bucks for that matter..
fact: most workers at WalMart make more money than 90% of day traders.
fact: day trading is gambling.
" i bet xyz stock will go to 50 as soon as it breaks resisitance on high volume at 49.60 so when it breaks, i am going long 2000 shares.. oh shit, i bought at 49.65 at and it just dropped .40 in a second before i had the chance to hit my hot key.. ok, i only lost 800 bucks.. wait, the engineer or the guy that pumps gas didnt just lose 800 bucks for the day..
its gambling and most of you will be on suicide watch if you dont smarten up and get out while you are young..i know most of you guys are very smart and have alot to offer this world, so please, do something productive and dont wind up the way i did...i luckily bounced back in a new profession and am doing very well thank god..i still watch the market but absolutely no day trades!
any of you guys need someone to talk to, just pm me..i will keep in confidential.
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With a 5% success rate statistically daytrading is a fools dream. I've been at this fulltime for 10 years and finally woke up to the stupidity of watching a computer screen all day giving away my savings. The silver lining is I now understand intricacies of market behaviour and picked up C# , VBA and excel knowledge while trying to automate my signals. I'm trying to get back into a profession before I get to diseased and old. Thinking of trying to get in as a junior analyst in a oil company. Any suggestions?
 
Quote from badvestor:

With a 5% success rate statistically daytrading is a fools dream. I've been at this fulltime for 10 years and finally woke up to the stupidity of watching a computer screen all day giving away my savings. The silver lining is I now understand intricacies of market behaviour and picked up C# , VBA and excel knowledge while trying to automate my signals. I'm trying to get back into a profession before I get to diseased and old. Thinking of trying to get in as a junior analyst in a oil company. Any suggestions?
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Good move. Good luck to you. Maybe it would be better to stay away of the financial industry.
 
Quote from MasterGambler:

Btw, warren buffet is the greatest Margintale gambler ever... However, for him to actually lose the market would have to not recover from a crash and go downward forever. Basically the system would have to end.

That is the only way Warren Buffet could ever lose!
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Too complicated way of saying that he is the house.
 
It was kinda funny... There was one wall street firm stepping in big buying up all the futures on the correction after the flash crash only midway down...

They seemed to think they were the house and could absorb all the selling pressure and turn the trend... But damn they ate it! LoL!!!

Only the fed has enough money to ever be the "house" in the markets.
 
Gambling VS betting -gambling means losing on average.

However, good money management can make a person rich in a casino. So what do you call a profitable casino gambler? :confused:
 
Hello,

slot machine is gambling. Trading is more like passion and it is about the knowledges. Betting on unchanged interest rate of ECB is a risk :D? Who knows. For trading you need a serious Broker. Which one is serious :/ ????
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Quote from MasterGambler:

If you admit it or not.

Starting a business, getting married, going to a job interview, trading, driving to work, and etc...

Everything has a risk, and most things have a reward. There is a statistical odds factor's which can be calculated out pretty well for nearly everything.

Even taking your next breath of air is a gamble because there might be some deadly pathogen or virus you breathe in. The risk of this gamble not paying off is very small, and if the gamble isn't taken you will die...

When you go to sleep you are gambling that you will wake up. There is a slight odds factor that you won't wake up and will suffocate in your sleep from sleep apnea or something.

Driving on a highway is one of the riskiest gambles Americans take every day. The rewards of the gamble are that they can get to work and get a paycheck after multiple of these gambles. The odds of this gamble resulting in a wrecked car and serious injuries are actually statistically high enough that this gamble goes bad for many people during their lifetimes. If the bet is lost badly enough all ends!

The marriage gamble is an interesting one. The risk/reward ratio for this gamble isn't the best. So place your chips well and confidently... Many who gamble badly here end up taking care of someone elses kids without knowing it or losing half their capital.


Anyway... I just took a big breath of fresh air! That gamble felt good! I am pretty confident it won't go bad.

Food for thought. All is statistical odds gambling whether you admit it or not. Realize this and try to keep the odds in your favor! :cool:
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Quote from MasterGambler:

If you admit it or not.

Starting a business, getting married, going to a job interview, trading, driving to work, and etc...

Everything has a risk, and most things have a reward. There is a statistical odds factor's which can be calculated out pretty well for nearly everything.

Even taking your next breath of air is a gamble because there might be some deadly pathogen or virus you breathe in. The risk of this gamble not paying off is very small, and if the gamble isn't taken you will die...

When you go to sleep you are gambling that you will wake up. There is a slight odds factor that you won't wake up and will suffocate in your sleep from sleep apnea or something.

Driving on a highway is one of the riskiest gambles Americans take every day. The rewards of the gamble are that they can get to work and get a paycheck after multiple of these gambles. The odds of this gamble resulting in a wrecked car and serious injuries are actually statistically high enough that this gamble goes bad for many people during their lifetimes. If the bet is lost badly enough all ends!

The marriage gamble is an interesting one. The risk/reward ratio for this gamble isn't the best. So place your chips well and confidently... Many who gamble badly here end up taking care of someone elses kids without knowing it or losing half their capital.


Anyway... I just took a big breath of fresh air! That gamble felt good! I am pretty confident it won't go bad.

Food for thought. All is statistical odds gambling whether you admit it or not. Realize this and try to keep the odds in your favor! :cool:
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If you believe in Determinism, nothing is gambling.:D
 
Quote from BlueTurtle:

...the guy at wal-mart works at wal-mart. he goes home and knows he is beat down. his confidence may not be high.

the trader is going after the "dream", like the football player, hockey star, basketball phenom, olympic athlete....and we don't beat them down like a trader. opportunity cost is a cost...
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I guess it depends on where the Wal-Mart is at.

The Wal-Mart in my college town when I was in college had employed a lot of students. In fact, one of my best friends worked at Wal-mart for three years prior to going to medical school.

I don't ever remember seeing him "beat down" or "low confidence". In fact, he got payed better than other students working on campus in those low wage campus jobs. :D
 
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