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Today, I lost my savings and my career
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Today, I lost my savings and my career

  #31 (permalink)
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south africa
 
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MiniP View Post
its all gambling to an extent, the whole point of an edge is to put things in your favor slightly but there is still a probability that you are wrong.. probabilities = gambling.

-P

I would refine that to say that gambling is betting money on uncertain outcomes.
So of course all business, trading, poker, slots are gambling.

It is really of false dichotomy IMO to separate winning gambling from losing gambling.

I mean the field of probability was founded on the analysis of gambling, dice and games of chance.

There was also an amazing marketting job from the mutual fund industry to separate the idea of investment from gambling. No one of my grandmother's generation would disagree with the idea that trading in the stock market is gambling.

I am a gambler, so are you and so is anyone possibly reading this. No one is going to find "futures.io" who is not looking to bet money on uncertain outcomes.

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  #32 (permalink)
Trading for Fun
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I would disagree.....with the correct information and specific certainties its is no longer a gamble....regardless of lacking 100 percent probability of price direction.....gamblers execute with poor informations......this trade was not a gamble my friend.....
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  #33 (permalink)
Trading for Fun
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One
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  #34 (permalink)
Market Wizard
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Onisowo View Post
I would disagree.....with the correct information and specific certainties its is no longer a gamble....regardless of lacking 100 percent probability of price direction.....gamblers execute with poor informations......this trade was not a gamble my friend.....Attachment 261853

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it is always a gamble my friend, your trading gold what if some unexpected news came up and people sold the haven asset's ? Your edge would then in turn be wrong this time, it happens! It will happen be prepared for it. You could buy every time price p/b to the ema you use and it work a handful of times then it not work the next 5 times its trading.. stop marrying your edge and thinking you cant be wrong because you lined a few indicators up and won some trades.

we all lose anyone who says they don't is full of shit any guru who says they are the best because they win every time is full of shit, just win more then you lose and you'll be fine or win bigger then you lose and youll be fine.


-P

"Truth is not what you want it to be; it is what it is, and you must bend to its power or live a lie"-Miyamoto Musashi
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  #35 (permalink)
Trading for Fun
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I guess it all boils down to what the word gamble means....

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I would not call Stanley Drukenmiller's 30 year winning streak successful gambling at all.


Last edited by Onisowo; January 25th, 2019 at 01:42 PM.
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  #36 (permalink)
Market Wizard
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Onisowo View Post
I guess it all boils down to what the word gamble means....

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I would not call Stanley Drukenmiller's 30 year winning streak successful gambling at all.

And he closed his fund in 2010 due to failure to produce.... I would say his edge ran out.


-P

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"Truth is not what you want it to be; it is what it is, and you must bend to its power or live a lie"-Miyamoto Musashi
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  #37 (permalink)
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centaurer View Post
I would refine that to say that gambling is betting money on uncertain outcomes.
So of course all business, trading, poker, slots are gambling.

It is really of false dichotomy IMO to separate winning gambling from losing gambling.

I mean the field of probability was founded on the analysis of gambling, dice and games of chance.

There was also an amazing marketting job from the mutual fund industry to separate the idea of investment from gambling. No one of my grandmother's generation would disagree with the idea that trading in the stock market is gambling.

I am a gambler, so are you and so is anyone possibly reading this. No one is going to find "futures.io" who is not looking to bet money on uncertain outcomes.

For the purpose of trading, this is not a very useful definition as it describes anything with an uncertain outcome, which is everything...and the behavior of both a winning trader AND a losing trader.

The point was to differentiate between trading behavior that has a probable winning outcome versus a probable losing outcome. Perhaps 'advantage gambling' is a more useful term.

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  #38 (permalink)
Trading Apprentice
Denver, CO
 
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MiniP View Post
its all gambling to an extent, the whole point of an edge is to put things in your favor slightly but there is still a probability that you are wrong.. probabilities = gambling.

-P

I'd agree, "Trading is Gambling". I mentioned I only trade when & let me add "I Think" I have an edge. That alone won't guarantee success. An edge, any edge over time simply stops working. Markets change. An edge is worthless without risk management. When friends hear about me trading, they say "Oh, so your basically gambling". They don't understand risk reward, identifying trends, letting go of fear...yada, yada, yada.. Trading is a damn science and the markets is a gold mine for those who apply it properly.

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  #39 (permalink)
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MONTREAL
 
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learn from mistakes

I got this from somewhere
"if you can't turn 1000 dollars into 10,000. Then you will certainly turn 100,000 to 1000"

I wish I read this before I made some big blunders. I was a big time noob, still am.
Learn from your mistakes.

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  #40 (permalink)
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He'll be back. That's addictive behavior just like taking drugs until they kill you.

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