Explain to a 5 year old, how is trading different from gambling?
- Thread starter Debaser82
- Start date
Don't lie to your kid... Set him straight and tell him trading is a form of gambling. All forms of gambling have an element of risk. Your outcome is based on how well you manage your risk.
I have never purchased a lottery ticket and I do not gamble because I can not influence the outcome of the enterprise and i am not smart enough to perform well processing everything in my head, like in card counting.
I do speculate in Real Estate, Antiques, Fine Art, and instruments in the trading arena because I can have favorable factors and tools on my side to a degree that when do I participate and deploy my hard earned skills backed by good tools and favorable factors the probability of wining is increasing dramatically.
I do come out well ahead (except when I am a pig)
So it seams that speculating/trading is more suitable then gambling if one is really interested in a positive outcome.
bc
I do speculate in Real Estate, Antiques, Fine Art, and instruments in the trading arena because I can have favorable factors and tools on my side to a degree that when do I participate and deploy my hard earned skills backed by good tools and favorable factors the probability of wining is increasing dramatically.
I do come out well ahead (except when I am a pig)
So it seams that speculating/trading is more suitable then gambling if one is really interested in a positive outcome.
bc
I have been waiting for that!!....
Ii don't care if you trade abbos...as long as you can can come up with little gems...
NiN
When you come down off you self righteous stool you may take the opportunity to learn how to spell and use proper grammar...
In the meantime, I hope your mirror doesn't crack....
NiN
Winning trading is exactly like winning gambling - there's no real difference between the skills needed to make money at poker, sports betting, blackjack or proposition betting and the skills needed to make money at trading. The details may differ, but in broad stokes they're the same.
Similarly, losing trading is exactly like losing gambling. The same people with the same pathetic psychology making themselves feel better by losing at a game they don't understand.
In other words, there is no difference between trading and gambling. Trading is a subset of gambling. But since most of the population is as woefully ignorant of how to make money at gambling as they are of how to make money at trading, the analogy/comparison is not informative to most people.
Similarly, losing trading is exactly like losing gambling. The same people with the same pathetic psychology making themselves feel better by losing at a game they don't understand.
In other words, there is no difference between trading and gambling. Trading is a subset of gambling. But since most of the population is as woefully ignorant of how to make money at gambling as they are of how to make money at trading, the analogy/comparison is not informative to most people.
Wrong topic to start with.
Try explain to 5 year olds that doing a regular job is not gambling.
You may not get paid from a regular job because,
1. the place you are working at is going out of business and you do not know that is true
2. the pension you saved with the firm does not really exist
3. you can be fired any time on any ground
4. you are liable for many things and be sued for money when dealing with coworkers and clients
The paycheck is not as secure as most people think.
Of course there is McD to work for so that the paycheck has a better guarantee but ...
=P
this topic has been done to death
i'll make it simple for the simpletons.
if the NET outcome for the player is random , its gambling.
if the NET outcome for the player is overwhelmingly positive its minting money.
if the NET outcome for the player is almost certainly a loss, then you are a trader, you posture and pose on et, and you hope not to lose your day job.
Professional Forex Trader
i'll make it simple for the simpletons.
if the NET outcome for the player is random , its gambling.
if the NET outcome for the player is overwhelmingly positive its minting money.
if the NET outcome for the player is almost certainly a loss, then you are a trader, you posture and pose on et, and you hope not to lose your day job.
Professional Forex Trader