so could we say that there are two componets to gambling? Risk and Benefit...without the two, perhaps one could "not gamble"?
Is trading Gambling or not .."What say You" Vote here.
- Thread starter ElectricSavant
- Start date
Gambling is against the odds... good business normally is done with favorable odds. Running a casino is not gambling.
If you can't trade with the odds in your favor you are gambling.
If you can't trade with the odds in your favor you are gambling.
So could we say if time was on your side...you are "not gambling"?
here is what i have so far:
For Trading to be "not Gambling"
Don't Forget to vote.
For Trading to be "not Gambling"
- There must be a perceived Benefit
- There must be a perceived risk
- Time must be on your side
Don't Forget to vote.
For trading not to be Gambling, you must trade with the odds in your favor,ie., the trading model must make money and you must exercise the emotional discipline to trade the model. Time is a proper variable in the model, but not independent in itself.
Like Warren Buffet summarized, i...it does not take superhuman intelligence to make money, only the emotional discipline to follow a good model.
Of course, time is certainly important in emotional discipline since attention = time.
Like Warren Buffet summarized, i...it does not take superhuman intelligence to make money, only the emotional discipline to follow a good model.
Of course, time is certainly important in emotional discipline since attention = time.
Could you discuss "Edge" a little...if you have the time?
Time is a proper variable in the model, but not independent in itself.
Time is a proper variable in the model, but not independent in itself.
An "edge" for the house on card games is the statistical edge represented by profit from the result of numerous hands played, being simulated by a computer. This is pure mathmatics. So an edge could be described as the emotional discipline to trade a market model that has clear probability in the participants favor.
Its like when Warren expands with Nebraska Furniture Mart he is going with the probability of expanding trade with low cost producer China, expanding population in USA, and probable need for furniture by a growing population.
The big variable in trading is emotional discipline which is "not in the cards" for most people.
Its like when Warren expands with Nebraska Furniture Mart he is going with the probability of expanding trade with low cost producer China, expanding population in USA, and probable need for furniture by a growing population.
The big variable in trading is emotional discipline which is "not in the cards" for most people.
its gambling for technical analyst, however i think its the best form of gambling. For example right of the bat you odds are 50/50 - it can go up or go down. Once you start with 50/50 you can better the odds by studying the sector and watching interest rates and the odds get higher.
In my opinion its gambling and it beats the casino odds any day of the week....lol
In my opinion its gambling and it beats the casino odds any day of the week....lol
I would like to discuss this more. Could anybody contribute how emotions and "not Gambling are related?
Have you voted?
Could gambling be emotional...or fact based?
Michael B.
The big variable in trading is emotional discipline which is "not in the cards" for most people.
Have you voted?
Could gambling be emotional...or fact based?
Michael B.
The big variable in trading is emotional discipline which is "not in the cards" for most people.