Just wondering when does a trader become a gambler?

[Partial QUOTE="Overnight, post: 4640990, member: 494466"]Traders do not have to be...they have so much flexibility it boggles the mind. The only way to mitigate risk in gambling is to never play the game...Traders can be in the game and mitigate the risk with many many means.[/QUOTE]-------------------------------------------------------------------------------------------

%% Great quote, that's why i quoted it LOL:D:D
 
Cabin111 said:
Sounds like buying a house...
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Cabin111,

Most of the gambler traders I know behave that way. They have a few day of winning and keep talking/bragging about it and when have losing days they act like the world coming to an end and start changing everything and blaming everything. They talk like this: "I got stopped out because they want it to go low today". "They sellers have the market today, that's why I got I stopped out" "This market is crazy today" "Thanks alot Trump" "I am not trading today with all this stuff going on in Syria today"

Most gambler traders don't realize how probability statistics and risk works.
 
SimpleMeLike said:
Cabin111,

Most of the gambler traders I know behave that way. They have a few day of winning and keep talking/bragging about it and when have losing days they act like the world coming to an end and start changing everything and blaming everything. They talk like this: "I got stopped out because they want it to go low today". "They sellers have the market today, that's why I got I stopped out" "This market is crazy today" "Thanks alot Trump" "I am not trading today with all this stuff going on in Syria today"

Most gambler traders don't realize how probability statistics and risk works.
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%%
Lottery players;
a stupid tax on those that cant do math.:caution::caution:
 
Cabin111 said:
So Warren Buffett bought Coke and Sees Candy...Plans to hold onto them till he dies. Where is his lifecycle??
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You just said it, holds it until he dies. Read more on Mr Buffett, he actually sells covered calls and put options. You know that is also a lifecycle. Analyze what happens before and after ex-dividend date.
 
digitalnomad said:
Risk of ruin by a thousand cuts. Still side bets (especially options), just slower bleeding.
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Yeah, it's possible and probably common for one to not learn from his or her mistakes and keep doubling down on a flawed strategy, but that does not describe all traders. However, your definition of gambling covers basically all professions in the medical and legal fields.
 
I think what OP's asking is irrelevant. At the end of the day, what counts is whether one can sustainably profitable in the long run, throughout their whole life, the whole life of their descendants of x generations down and etc. etc. Does it really matter whether one is a trader or a gambler? There are traders who have made the motherload and then crashed and burned https://en.wikipedia.org/wiki/Jesse_Lauriston_Livermore and then there are "gamblers" who make money sustainably and is living the life of every guy's dream https://en.wikipedia.org/wiki/Dan_Bilzerian.

You are only as good as your next trade/bet.
 
https://www.casinopedia.org/terms/p/professional-gambler
"
A professional gambler is a person who makes their living entirely or mainly through gambling. Professional gamblers take a realistic living wage from their play, and often make a lot more on top of this. They use legal gambling methods and often employ legal betting systems to maximise their earnings, and they are able to manage wins and losses in order to achieve a profit.

Professional Gamblers may also be able to gain an advantage by having superior knowledge, or a knack for placing the right bets, at the right levels.
"
Winners traders are professional gamblers.
 
qxr1011 said:
if we define gambling as a game with the probable outcome - all people are gamblers , since all our life is the game with the probable outcome (even when someone/something provide us with certain guarantees), most people just do not realize that they are gambling

the difference is just in the odds...

speaking of traders

trader who does not know what he is doing has the odds stuck up against him (but there is a chance that the winning streak may outlast even the length of his life)

trader who knows what he is doing has odds in his favor (but no guarantee that the loosing streak will not crush him)
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You are a gambler if you keep playing knowing the odds are not in your favor. You are not a gambler if you keep playing knowing the odds are in your favor and you will eventually come out ahead.
 
ironchef said:
You are not a gambler if you keep playing knowing the odds are in your favor and you will eventually come out ahead.
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there is no no guarantee that one live or still be in business when the odds, which are in ones favor, will eventually played out... therefore it is gambling

we are all gamblers as long as there are odds involved.... and no guarantees... :)

the only guarantee is that we will all die.... no gambling here :)
 
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