trading is LUCK ???

Is it really luck?

All three of us jump in the same stock. Put sell limits 15 cents above. I do not see the guy moving that well, put my sell limit 10 cents above. They do not, they stick through thinking he will go through. I think he might but do not feel it is worth the risk. 20 seconds later I get out. 40 seconds, they do not and get hurt for 20 cents as the bid dissapears and the specialist drops.

Are you saying I was just lucky?
 
Quote from JORGE:

Can I assume that people who think trading and gambling are not related make money on every trade. To gamble is to bet on an uncertain outcome, unless you are trading on inside information, every trade you make could be considered a gamble. We all have certain set-ups we like to trade and feel the odds are with us, but we have no way of knowing what the outcome will be until the trade is taken.

In my opinion, what separates a winning trader (gambler) from a loser is money management. Good LUCK with your trading tomorrow.
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It does feel like being insider. SEC can pullup accounts sometimes for that reason. They cancel citations after you get them cured thogh.
 
Quote from hii a_ooiioo_a:

Yes, it is possible to be successful over the longterm trading/gambling. The person who achieves this is a rare person. Most people couldn't, and that's why they work at jobs or steal to get money. But if you have the right kind of mind for it you can succeed at gambling or trading. I personally feel that gambling is more reliable over the longterm. This is because the stock market is constantly changing, while casino games remain consistent regardless of the year, month, day, minute.

Many people who may do well in the market for a number of years, end up losing their touch because the market evolves and it may well evolve in ways that no longer match those people's mindsets. I believe to develop good gambling skills you are more likely to be set for life, than by playing the market, because of this.
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The market is same a gambling vis a vis change. After a while you will see the changes in both.

The market is most affected by the change in data transfer and the spectrum of players. Newer market traders are easier to anticipate. You aben see here that people do not behave very efficiently.
 
Quote from TruthSeeker247:



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.
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But there are people everyday who are in positions to do take advantage of others or profit off of others but instead choose to look out for others instead. For example, there is the guy in Mass (aired on 60 minutes a few times) who, when his garment factory was on fire, chose to pay his many workers for months while the factory was rebuilt. Then, when he was given a great offer to exit the business just as his company was in the most trouble, he refused because he couldn't bare the thought of laying off so many workers that relied on the factory. Today that guy's factory is barely getting along, but the owner is happy knowing that he has looked out for many hundreds of families while still providing a good product and quality service. Obviously, not many people (me included) would probably go to this length, but the point is that there are very good people out there, let alone people who are not selfish, greedy snakes, so I don't agree that ALL people would act as Gates has were they given his situation.
 
Quote from jack hershey:



The market is same a gambling vis a vis change. After a while you will see the changes in both.

The market is most affected by the change in data transfer and the spectrum of players. Newer market traders are easier to anticipate. You aben see here that people do not behave very efficiently.
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Would you mind practicing your white anglo saxon version of ebonics at home, and not on us?
 
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).
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I submit that there are a lot of people, men and women, that make a pretty good living playing poker at casinos. They are the regulars that take the money from tourists. The casinos don’t care if the pro has an advantage as the casinos, not unlike the brokers, take a little off the top form each transaction. The professional has an edge. He knows the odds, only stays in the game when they are in his favor and has developed the ability to read people. In short he has an edge.

They way I understand it the same applies to traders. Although the outcome of each trade is uncertain and could be considered a gamble, by knowing the odds, only staying in the game when they are in his favor and developing the ability to read people(the market), the trader has an edge.

You got to know when to hold em, know when to fold em, know when to walk away etc etc etc. Applies to both traders and gamblers.

The professional doesn’t bet his whole stake on one hand. Money management is just as important in gambling as in trading. By having an edge and controlling the size of his transaction the successful trader/gambler will make money in the long run. That’s the theory anyhow. :)
 
I don't know the exact numbers of how many people trade for a living or how many people gamble for a living. What I do know is that some people do trade for a living, and some people do gamble for a living, and there are some people who do both.

I don't know any brain surgeons, but I do not conclude from that that there are no brain surgeons. There may be as many people who gamble for a living as who trade stocks. The exact number of either group would be difficult to verify, particularly the gambling group. And I don't think it matters anyhow.

There are hundreds of millions of people who work in factories, and many fewer who trade for a living. That doesn't mean that your prospects of making a living trading are worse than if you work in a factory. The fact is, your potential for making money is far greater by trading stocks than it could be for working in any factory, unless you own the factory. And even then, you could end up on 60 minutes for being a swell guy who makes sure the factory workers all keep their jobs, while you struggle every day to keep out of bankruptcy.

Yet if you try to tell a factory worker that you trade stocks for a living, you will quite likely get from them the response "I know hundreds of people who work in factories, but I don't know anyone who trades stocks for a living, so therefore trading stocks could not be a viable way to make a living."
 
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