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Do you believe in luck in trading?
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Do you believe in luck in trading?

  #21 (permalink)
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esnq View Post
I always say that trading is not gambling in front of my family. hahah..

futures and stock exchanges are largest casinos in the world

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  #22 (permalink)
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Jedi View Post
Every trade set up is nothing more than positioning to get lucky.. so luck is def involved, but the ability to recognize opportunity and to position for it takes skill, so its both..

Agree 100%



Jedi View Post
You cant deny the luck element or it would be saying you have control over the market by your skills.

sounds like a Holy Grail

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  #23 (permalink)
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dario1 View Post
futures and stock exchanges are largest casinos in the world

So are you rolling dice to decide if you go long or short at a predetermined price level, or are you executing a trade based on informed market price action and personal experience?

Why do we educate ourselves to become consistently profitable traders? You don't have to get an education to roll dice or pull the lever of a slot machine . Poker is another story.

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  #24 (permalink)
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Definition of gambling


esnq View Post
I always say that trading is not gambling in front of my family. hahah..

Trading is ultimately gambling with an edge, but no responsible self respecting person wants to consider their livelihood or pursuit to be a irresponsible gambler.. The big question is when you have an edge, is it still gambling?
Should it have the same negative connotations as what is traditionally associated with the term "gambling?"

When you enter a casino, who is gambling, the casino or the players?
Why are casinos so concerned with those that can count cards?
How much edge does the casino and card counters really have?
How much edge do you need?
Why do some poker players consistently win?
Why do some poker players consistently win while other winning poker players make the killings?
Why do some good traders become consistent while others become George Soros?


Last edited by Jedi; August 20th, 2012 at 09:02 PM.
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  #25 (permalink)
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https://futures.io/traders-hideout/7718-trading-gambling.html

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  #26 (permalink)
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itrade2win View Post
Poker is another story.

Poker and other games and what about race track

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  #27 (permalink)
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you're fast -- but I don't think I'm convinced either way

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  #28 (permalink)
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dario1 View Post
you're fast -- but I don't think I'm convinced either way

Not trying to convince you.

Also, existing thread on luck:
https://futures.io/forex-currency-trading/19513-what-luck-what-skill.html

Mike

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  #29 (permalink)
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It all depends on your definition of luck ....


If I have a winning trade ... it is skill...


If ya'll have a winning trade ... it was luck ...

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #30 (permalink)
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in my book, Luck is nothing more than seized upon opportunities. I believe you make your own opportunities (luck) in life. Those who go out and "do" have way more opportunities than those who "do nothing". Of course, once the opportunity is presented you still have to make good decisions on what to do with it.

Those who make a lot of bad decisions with opportunities are considered to have bad luck. Those who make a lot of good decisions with opportunities are considered to have good luck. These are extreme ends of the spectrum. Everyone else makes up the middle.

SD

nosce te ipsum

You make your own opportunities in life.
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