trading is LUCK ???

Quote from Mecro:



Well yeah, but what he did and is still doing is just way overboard. Being a business, there is such a concept as social responsibility. MS stands for the absolute opposite like destroying innovation and keep PC software in the stone-age because Bill Gates just cannot get enough money. Actually, Gates has a serious self-inferiority complex where he feels like he needs to be on top at all time and when he is on top, he feels like he needs to be higher. With all that money he is still a pathetic mofo. I wonder if he even realizes how horrible MS products are.

I hope he rots in hell.
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I don't condone the anti-competitive actions of Bill Gates....I realize, however, that he is doing what he must do to survive (Darwin's Theory at it's best I guess). Bill Gates is in a position of great power and he wants to keep it that way for as long as possible. I don't blame him for succumbing to the natural tendency toward survival. I think Bill Gates is the perfect example of what all men are capable of becoming, given the right circumstances. Therefore, I think we should accept our natural tendencies and move on rather than judge those who are in better positions to put such natural tendencies to full implementation. When it comes down to it, I think we all want to rule the world; Bill Gates just happens to be in a position to actually make that happen.

If Microsoft products are that bad, the next generation (which will be so much more tech savy than the current generation) will surely make its dent in Microsoft's bottom line (by choosing different operating systems and etc...). Until then, all hail Gates.
 
Quote from TruthSeeker247:

I think Bill Gates is the perfect example of what all men are capable of becoming...
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No way, Jose. All men are definitely not capable of being "Bill Gates" like. There isn't enough money in the world to make every man a billionaire. I could go on and on about why it is not possible...

FRuiTY
 
Quote from Boib:

<i>If you are gambling, no matter how good your money management skills are, you will likely go home broke.....I don't think the same is true with trading though. So it appears there IS a distinction between trading and gambling.....what a surprise Trading is not a rolling of the dice.......with proper strategy and risk management one can be consistently profitable in trading. Can the same be said of gambling at a casino? No.</i>

Can you explain why Vegas Casinos ban card counters.
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Just as insider trading is banned by the securites regulators, card counting is banned by every casino in existence. Clearly, card counting gives you the edge but it is not really allowed now is it?
Card counting can be seen as the "insider trading" of blackjack (when you count cards, you become privvy to inside information).
 
I'm new around here but have quite alot of experience as a trader.. I'm not saying luck doesn't help, But I'd go with extreme discipline first. Luck doesn't hurt though! So many times If I just did what I knew was prudent instead of taking the proverbial "shot" or didn't say to myself, let me just wait this next level I would have save so much more money..I'm a firm believer that the market always tells me what to do, what I do with that info is another story.:cool:
 
Quote from hii a_ooiioo_a:

I have been told by people on here that saying you are an experienced poker player on your resume is considered a big plus when interviewing for a job at an investment firm.

Yes the same can be said of playing casino games: Strategy and risk management are the keys to consistent profitability in casino games.

I believe from your remarks that when you refer to gambling you are thinking that gambling is all blind luck: rolling dice, pulling a slot machine lever, betting blindly on a roulette wheel. My remarks about gambling and how it compares to trading are based on my knowledge that in most casino games there are certain mathematical variables, which if you work them out you can (if you are clever) work out strategies of money management that will consistently bring you profits. Let me clue you in to the first fact of this: to be successful, you do not place your fortune on the outcome of the next deal. You cannot predict the very next deal, or any particular deal. This is what I think you are picturing when you talk about "gambling". But what you can do is design a strategy that will work in your favor over the course of a series of bets. It's an art, you see. And believe me, it's an art which will greatly benefit your trading skills. Because the same is true of stock trading: you cannot place your fortune on the outcome of the very next movement of the market. It is not steadfastly predictable. We'd like to think it is, we'd like to think that all you have to do is watch the news reports on companies like a hawk, and catch the movement that should result from that news. When you start trading yourself, you will find out how untrue this is.

Gambling is about managing randomness, creating strategy to cover all the possible outcomes of what is unpredictable. The stock market is unpredictable. If you can create a "gambling strategy" for the stock market, then you can hope to be consistently profitable with trading.
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As far as I know, there are thousands more people who make a living trading than there are people who make a living gambling at a casino (in fact, I don't know anyone who gambles for a living but quite a few extremely successful people who trade for a living). This fact should clearly define the distinction between trading and gambling. Many traders agree that Trading can be a viable career. If casino gambling was a viable career, why would there be such a dramatic difference between the number of people who trade for a living and the number of people who casino gamble for a living? With equities, the odds are so much more in your favor than at a casino because you likely will not lose the entire amount invested in a single equity but rather just a percentage whereas at the casino you either lose the entire amount of your bet or double it. Clearly, derivative securities provide for added risk though hedging strategies can give a trader the opportunity to trade the high leverage derivatives with minimal risks.

All I am saying is that there is a distinction between trading and casino gambling. Trading can be reduced to Gambling but it doesn't have to be (as evidenced by the fact that thousands of people in the US trade for a living).
 
Quote from Soesman:

I'm new around here but have quite alot of experience as a trader.. I'm not saying luck doesn't help, But I'd go with extreme discipline first. Luck doesn't hurt though! So many times If I just did what I knew was prudent instead of taking the proverbial "shot" or didn't say to myself, let me just wait this next level I would have save so much more money..I'm a firm believer that the market always tells me what to do, what I do with that info is another story.:cool:
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I just can't imagine going to work each day saying "...let's see if I'm lucky today....if so then I will be able to eat and pay my bills..." with the underlying assumption that I have nothing to do with making my own luck.

I'd rather be saying "...what is the plan for today...how will I implement my strategy....where are the inefficiencies in the financial markets..."
 
No way. It's skill that you will eventually develop from scratch, if you are lucky enough to be around as long as I can. So come on in and stick around as long as you can. Good luck.

:p
 
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