If you use stop losses then you are essentially gambling

[wxytrader]

You have entered a position that you want no part of at a certain price...versus entering a position at a price you happy to own it at, and manage from there whether hold, leg in more, or average down.

 

[murray t turtle]

You have entered a position that you want no part of at a certain price...versus entering a position at a price you happy to own it at, and manage from there whether hold, leg in more, or average down.

%%
Trading-investing is not gambling @ all , no wayLOL
IF you think trading -investing is gambling try enough wins in Vegas + see how far YOU dont get \LOL
Dave ramsey said he ate some donuts in Vegas\ so what happens in Vegas always does not stay in Vegas LOL

 

[SimpleMeLike]

You have entered a position that you want no part of at a certain price...versus entering a position at a price you happy to own it at, and manage from there whether hold, leg in more, or average down.

Hello wxytrader,

Questions please:

1. Why do you say if you use stop losses then you are essentially gambling?

2. Are you saying in your trading just hold the position forever?

3. When you do you take your loss on the trade? Perhaps, you never lose a trade.

Thank you.

 

[murray t turtle]

Hello wxytrader,

Questions please:

1. Why do you say if you use stop losses then you are essentially gambling?

2. Are you saying in your trading just hold the position forever?

3. When you do you take your loss on the trade? Perhaps, you never lose a trade.

Thank you.

%%
LOL but Risk of Ruin on bitcons+ cons is unlimited ;
even single stocks can only go to zero unless dumb enough not to use stops + dumb leverage.................................
Some dont use top on RE , but that's not gambling , not anywhere near gambling

 

[ZBZB]

Sean Ryan, David Ryans son, got stopped out on 73% of trades but made 200% to come third in the US investment championship. Video on traderlion on YouTube.

 

[deaddog]

I use stop losses on every trade.
I don't think of it as gambling. I prefer to think of it as risk control.

Take the Vegas situation. It's the customer vs the casino. Both are playing the same game. On any one spin of the wheel, pull of the handle or deal of the hand, you don't know who will win.

Do you think the casino is gambling?

 

[zghorner]

Wow....so placing a bet on an uncertain outcome is gambling? Crazy.

 

[murray t turtle]

I use stop losses on every trade.
I don't think of it as gambling. I prefer to think of it as risk control.

Do you think the casino is gambling?

%%
FOR sure casino business has not done as well as lotto , which is a stupid tax on people that cant do math.
More casinos went broke than any state promoted lotto LOL
But Millionaire mind book writer Dr Stanley had another good rebuke on lotto;
to do that regular\ wasting time\standing in line LOL +wasting money.........................

 

[deaddog]

Murray T;

What's your take on stop losses? What does Dave say?

 

[wxytrader]

Sean Ryan, David Ryans son, got stopped out on 73% of trades but made 200% to come third in the US investment championship. Video on traderlion on YouTube.

I could have won that by simply placing one swing trade with only averaging down no stop losses.