It's a battle, isn't it? Thinking in points not in dollars helps...This is going back to trading 101
Is trading Gambling or not .."What say You" Vote here.
- Thread starter ElectricSavant
- Start date
Today's Trades..
If the sub-account were triple for each system...say 9k? Would this cover the sky is falling.
And say a daily move from each account to the sub-account equalling 1/3 of the days profit.
Michael B.
P.S. Perhaps a slight reduction in the default trade ticket percent would be in order too...
And say a daily move from each account to the sub-account equalling 1/3 of the days profit.
Michael B.
P.S. Perhaps a slight reduction in the default trade ticket percent would be in order too...
Hi Electric,
Thanks for the invitation to rethink this growing discussion.
I spent a lot of time going back and forth with exceptions, If/buts, thots about edge, probabilities, risk and qualifying wiggle words then finally asked myself this question. If I had a gun to my head and had to chose to label trading as IS or IS NOT gambling... I'd simply have to say it is.
At the heart of this is the fact that you are risking money on the results of an unknown outcome.
You are not saying that you have found a trading style that has NO RISK OF LOSS... right? Or that it is a 100% guaranteed net profit giving money spigot... right?
If you can lose your money, even if it is to the vig or carry costs or loss of interest or what ever, how can one not say they aren't taking a gamble on the outcome?
Peace and gtty,
Lar
Thanks for the invitation to rethink this growing discussion.
I spent a lot of time going back and forth with exceptions, If/buts, thots about edge, probabilities, risk and qualifying wiggle words then finally asked myself this question. If I had a gun to my head and had to chose to label trading as IS or IS NOT gambling... I'd simply have to say it is.
At the heart of this is the fact that you are risking money on the results of an unknown outcome.
You are not saying that you have found a trading style that has NO RISK OF LOSS... right? Or that it is a 100% guaranteed net profit giving money spigot... right?
If you can lose your money, even if it is to the vig or carry costs or loss of interest or what ever, how can one not say they aren't taking a gamble on the outcome?
Peace and gtty,
Lar
Well lar,
is anything possible?
This would be semantics and what comes from all these threads.
The line of gambling simply does not need to be crossed with trading....
Over 100 traders here disagree with you.
Do you feel that traders that consistantly win are lucky?
is anything possible?
This would be semantics and what comes from all these threads.
The line of gambling simply does not need to be crossed with trading....
Over 100 traders here disagree with you.
Do you feel that traders that consistantly win are lucky?
Then what is not gambling? If you go to the store to buy a bottle of Maker's Mark, you might be unsure of the price, so you'll have a somewhat unknown outcome (how much money you'll have left to buy stoogies with).
Or what about going to college to learn a trade? Who knows if you like it (you may discover that trading is more rewarding).
I might pick a different definition for gambling, along the lines of risking money on pure chance. Also something about how the risk/reward is at best even (including one's skill and knowledge), and is usually less (as in craps at casinos).
For example: Rounders. A movie about professional poker players. While a master might not win every hand against a noob player, he has a positive expectancy and should make money over the long run. Not gambling, IMO. If it is, then everything is gambling. If it is then you're gambling that a meteoroid won't blast through your roof and strike you dead where you stand. If it is, then every single action or non-action is a gamble. And that's not good, we use words to convey information. If everything is a gamble, then what's the point of saying something else is a gamble?
Hey Electric,
Do I think traders who win consistantly are lucky? No, I think they have a valid edge(s) which they exploit time and time again.
I think they found a way to put the odds on their side.
It's ok that a lot of folks disagree with my conclusion... it's not the first time.
Out of the first 1000 people trading in any given market on any given day... are you saying that none of them are gambling?
Peace,
Lar
Do I think traders who win consistantly are lucky? No, I think they have a valid edge(s) which they exploit time and time again.
I think they found a way to put the odds on their side.
It's ok that a lot of folks disagree with my conclusion... it's not the first time.
Out of the first 1000 people trading in any given market on any given day... are you saying that none of them are gambling?
Peace,
Lar
This is the unknown outcome for
System#1
EUR/USD goes down to zero
USD/CHF goes up to infinity
or vice versa
System#2
AUD/JPY falls to Zero
GBP/CHF falls to Zero
EUR/HUF rises to infinity
System#1
EUR/USD goes down to zero
USD/CHF goes up to infinity
or vice versa
System#2
AUD/JPY falls to Zero
GBP/CHF falls to Zero
EUR/HUF rises to infinity