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Gambling (with life)


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Gambling (with life)

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  #71 (permalink)
Bracknell/UK
 
Platform: PRT
Broker: IG
 
belekas's Avatar
 
Posts: 18 since Nov 2017
Thanks: 190 given, 13 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.

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  #72 (permalink)
Singapore
 
Experience: None
Platform: MetaTrader 4
Trading: Spot Forex
 
Posts: 65 since Dec 2018
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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.

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  #73 (permalink)
Toronto
 
 
Posts: 4 since Jun 2020
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No long ago I watched a great movie about that. Named Intacto. Awesome Italian movie. Highly recommend to watch it

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  #74 (permalink)
Boca Raton, FL
 
 
Posts: 97 since Nov 2018
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Spanish, not Italian.

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

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  #75 (permalink)
Toronto
 
 
Posts: 4 since Jun 2020
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Yeah, right, Spanish the film with great premise.

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  #76 (permalink)
Dhaka Bangladesh
 
 
Posts: 47 since Sep 2018
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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.

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  #77 (permalink)
sacramento ca us
 
Experience: Intermediate
Platform: Ninja Trader,Trade Station
Trading: es
 
Posts: 60 since Aug 2015
Thanks: 49 given, 42 received

poker has discipline and strategy like trading

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