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A different approach would be to look at our "primal". Consider that in lieu of certain facts of risk and reward, the decision making mechanism of a player at a poker table and a futures trader could be identical. Again, the games are structured differently, but the psychological process of processing data and making a final decision, again, could be identical.
We fall on fear and greed.
Here is another thing that I have learned: Beginner traders get bent out of shape when someone mentions they gamble, and strongly defend their stance if trading because "gambling is where the odds are are against you" while the market has "much better odds". I was there before as well, but have learned that it is at times important to look at human decision making out side the area of trading and draw parallels in order to look at things objectively.
If you talk to a professional gambler who successfully does it for a living, you will find that they don't call themselves gamblers. If you ask them what is the reason behind their success, quite often they say they have an EDGE.
What is an EDGE in trading? Defining specifically what anomaly you are taking advantage of in the market place.
Also, I find that many moves in the market place making you think like it is going one way when in fact it turns around the other way, not to get excited and take a spontaneous position is avoiding the art of a bluff.
There are people who are a lot more qualified than me to address this topic, but it is quite interesting to see that the emotional part guides our behavior in ways we did not think of. Keep an open mind....its healthy.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
Well, I think trading is considered gambling by many because most novice investors got destroyed during some of the crashes in the last couple decades. There is a great confusion between investing and trading that helps give popularity to the whole gambling connotation. Most people who have lost money, with out an extensive history of trading, are very jaded about the subject. There are countless people I could name that have tried trading, went bust, and gave up. A lot of people who don't trade think traders take only long positions and don't even understand the concept of going short. They think if they lost money, Than everybody doing it will lose money.
When I told my Grandma about trading she instantly said that there's no money in the stock market, As if her wisdom was the only wisdom. Once I had some charts up at my night job fixing websites when one of my coworkers walked by and took one look and said "you know that's gambling, You're better off going to the casino" as he laughed and walked away.
Anyone whose been trading for a while knows that if you have an edge it's not gambling. However, It's Inevitable that there are a few occurrences in a trader's learning curve where they think they have an edge but really are missing a puzzle piece or two. But anyhow, Gambling can be done with any job where you don't do the work correctly and thus lose the position.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
For a start gambling and trading would be called by the same name. Guessing folks who treat trading like rolling the dice don't know what gambling is either.
Sometimes I think platforms that add all the bells, whistles, and indicators are similar to new slot machines. Anyways, very interesting video that explains the psychology of gambling addiction.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
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I voted No.
Then I read this comment by @LindsTrading with a confirmed positive expectancy is not gambling
I have a positive expectancy - maybe not surprising that I don't think it's not gambling.
Wonder what I would say though if I didn't have a positive expectancy?
Do Casino's consider their business's gambling? I'm sure they don't.
Of course they do!! this is why they invented comps, no clocks or mention of time, they announce winners, the actual use of chips instead of money, Casino path to your room, illusion of choices, and the free alcohol.
This is ALL gambling.
If you took the above away than you are left with odds and psychology.
Matt
Optimus Futures
There is a risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,048 since Dec 2013
Thanks Given: 4,384
Thanks Received: 10,205
Sorry should have been clearer. My point was Casino's view themselves as "being in the business of selling gambling" they don't view their business as a a gamble because they know the odds are stacked in their favor.
On another subject no idea how I replied to a several year old thread. Sorry.
