Gambling (with life) - futures io
futures io futures trading



Gambling (with life)


Discussion in Psychology and Money Management

Updated by SunTrader
      Top Posters
    1. looks_one DoubleUCapital with 10 posts (11 thanks)
    2. looks_two SunTrader with 10 posts (9 thanks)
    3. looks_3 ChrisDouthit with 5 posts (0 thanks)
    4. looks_4 smtlaissezfaire with 4 posts (0 thanks)
      Best Posters
    1. looks_one TheBenefactor with 17.0 thanks per post
    2. looks_two Big Mike with 8.0 thanks per post
    3. looks_3 bobwest with 6.3 thanks per post
    4. looks_4 lancelottrader with 5.7 thanks per post
    1. trending_up 8,911 views
    2. thumb_up 193 thanks given
    3. group 232 followers
    1. forum 78 replies
    2. attach_file 1 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

Gambling (with life)

(login for full post details)
  #71 (permalink)
Bracknell/UK
 
Platform: PRT
Broker: IG
 
belekas's Avatar
 
Posts: 17 since Nov 2017
Thanks: 244 given, 17 received

Gambling, trading, tea leaf reading or whatever you call it doesn't really matter. At the end of the day you either got it or not. It's that simple.

Regards,
Bel.

Follow me on Twitter Reply With Quote
The following user says Thank You to belekas for this post:

Can you help answer these questions
from other members on futures io?
US OTCQB STOCK Brooker for UK BASED RESIDENT
Brokers
How to add a Text Label to the Floor Pivots Indicator in Tradestation
EasyLanguage Programming
NT8 Options Workspace SetUp-How to?
NinjaTrader
Can anyone help convert this pine script to c# or vb?
MultiCharts
MulitCharts: Limit Order converted to MIT
Platforms and Indicators
 
 
(login for full post details)
  #72 (permalink)
Singapore
 
Experience: None
Platform: MetaTrader 4
Trading: Spot Forex
 
Posts: 66 since Dec 2018
Thanks: 3 given, 56 received

The most appropriate saying is this i guess.

"Everyone gets what they want from the markets" By Ed Seykota in the Market Wizards.

So its really the mindset the trader brings into the markets which determines his outcome.

The good news is, to exit the gambling mindset, all it takes is for you to switch your mindset to that of a professional trader and you will stop gambling. Coz that means you will be seeking to improve your skill and have proper risk management. The moment when you decide when you wanna behave more like the professional is when you stop gambling but the motivation must come from you.

Anyway, its possible to gamble with your life with just about anything in your life, not just trading, its really just the mindset that matters.

Lets say you decide to run a grocery store or a 2nd hand mobile phone store, or anything 2nd hand, is it gambling or a business? Notice its really the mindset, if you can run it well and know wheres the market, whats profitable and what has an edge, wont it become a business which allows you to make ends meet?

So its really the mindset that matters, just like the book trading in the zone.

Reply With Quote
The following 2 users say Thank You to CookieMonsta for this post:
 
(login for full post details)
  #73 (permalink)
Toronto
 
 
Posts: 7 since Jun 2020
Thanks: 0 given, 3 received


No long ago I watched a great movie about that. Named Intacto. Awesome Italian movie. Highly recommend to watch it

Reply With Quote
The following user says Thank You to Salasar for this post:
 
(login for full post details)
  #74 (permalink)
Boca Raton, FL
 
 
Posts: 118 since Nov 2018
Thanks: 27 given, 68 received

Spanish, not Italian.

If I get a chance I'll watch even if I do not believe in such a thing called luck.

Reply With Quote
The following user says Thank You to SunTrader for this post:
 
(login for full post details)
  #75 (permalink)
Toronto
 
 
Posts: 7 since Jun 2020
Thanks: 0 given, 3 received

Yeah, right, Spanish the film with great premise.

Reply With Quote
The following 2 users say Thank You to Salasar for this post:
 
(login for full post details)
  #76 (permalink)
Dhaka Bangladesh
 
 
Posts: 50 since Sep 2018
Thanks: 6 given, 23 received

Its like game of poker. You play your hand and rarely its a split pot. Most of the time its zero sum game where your win will result in opponent's loss. Not everybody is a good poker player. If you are the kind of player who will go all in pre flop with a high pair then there is risk. However if you pick your spot and only bet on right cards you will do ok in the long run. Wall Street even don't play poker. With the help from fed and myriad other mechanisms they will stack the deck in their favor. You can definitely ask if its legal but so far nobody is questioning. I love it while watching a game and someone made a big bet and opponent asks, 'Do you like action?' Its because opponent has suspicion he is beaten but no idea how its going to end up.

Reply With Quote
 
(login for full post details)
  #77 (permalink)
sacramento ca us
 
Experience: Intermediate
Platform: Ninja Trader,Trade Station
Trading: es
 
Posts: 83 since Aug 2015
Thanks: 67 given, 55 received

poker has discipline and strategy like trading

Reply With Quote
 
(login for full post details)
  #78 (permalink)
Pamplona Spain
 
 
Posts: 9 since Jan 2020

As for gambling in trading, it has its pros and cons. The disadvantages are the apparent lack of self-control, not quite adequate decision-making, and often all this leads to significant losses. But at the same time, the excitement adds interest in trading, making it less annoying and more time-consuming. All traders are, in a way, gamblers, even if they do not want to admit it, but a good trader will learn to control the gambling and will use it to their advantage.

Reply With Quote
 
(login for full post details)
  #79 (permalink)
Boca Raton, FL
 
 
Posts: 118 since Nov 2018
Thanks: 27 given, 68 received

Life is a gamble but if some find trading boring ..... stop trading.

Reply With Quote


futures io Trading Community Psychology and Money Management > Gambling (with life)


July 15, 2020


Upcoming Webinars and Events
 

Create an automated bot in 15 minutes w/SharkIndicators

Oct 29
 

Bookmap

Oct TBD
 

Carley Garner

Oct TBD
 

GruttePier

Oct TBD
     



Copyright © 2020 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts