Something wrong...

This is a discussion on Something wrong... within the General Trading Chat forums, part of the Reception category; Originally Posted by JRP2891 No way, 50/50 each trade, it's going to go one way or the other. Just got ...

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Old Jun 4, 2011, 12:23pm   #25
Joined Nov 2001
Re: Something wrong...

Quote:
Originally Posted by JRP2891 View Post
No way, 50/50 each trade, it's going to go one way or the other. Just got to get on a hot streak and pile on the size when you feel lucky.
Some folk are luckier that others but, that said, why is that the case? They say that you make your luck as you go along so, maybe, with experience, you learn to be in the right place at thge right time.
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Old Jun 4, 2011, 12:34pm   #26
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Re: Something wrong...

You're right, experience does teach you to be in the right place at the right time, and when you're rewarded for that, 90% of people will call you "lucky". To me that's just playing my edge over and over.
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Old Jun 4, 2011, 12:56pm   #27
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Re: Something wrong...

kimo'sabby started this thread My edge is made up of different components. I understand that the market is not a puzzle, don't try and work out every twist and turn. I also understand the repetitive nature of the market, born out of liquidity being liquidated (if ya like) and it's impact on price (volumatic). So i guess my edge is two-fold.

Charts are like horseracing form.
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Thanks! The following members like this post: Atilla
Old Jun 4, 2011, 2:17pm   #28
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Re: Something wrong...

If you want to be pedantic, then crossing the road is a gamble. Since a lot of us are very proficient at it, we know we are not gambling. I am of the view that the difference between trading and gambling is risk control and profit performance. If you are consistently profitable, then you are doing trading rather than gambling.

Last edited by BeginnerJoe; Jun 4, 2011 at 2:24pm.
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Old Jun 4, 2011, 2:27pm   #29
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Re: Something wrong...

kimo'sabby started this thread I think a good speculator is a good gambler. I try not to use the word trader so much because it can be used to describe a variety of jobs and doesn't automatically mean that a person is speculating.
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Old Jun 4, 2011, 2:34pm   #30
 
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This debate pops is face from time to time and in every occurrence there are 2 opposing offensives.

1) the I don't really care if it's considered gambling, I am making money so call it what you like. Typically these sort (myself included) get a kick out it teasing the other side of the fence.

2) the i am no gambler i invest or trade. I personally think it's a mixture of religious people and\or people that want to be looked upon as intelligent businessmen who have decoded the enigma of the financial global markets

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Old Jun 4, 2011, 3:26pm   #31
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Re: Something wrong...

Just looking at some random internet definitions of gambling i.e.
- To bet on an uncertain outcome, as of a contest.
- To play a game of chance for stakes.

Whatever terminology you prefer to use then most trading is gambling by those definitions as the outcome of a single trade is almost always uncertain at the outset. However the successful traders are those that have the knowledge / skill / experience to know that over a series of trades the odds are in their favour. Casino owners are gamblers in that they take the opposite side of every bet that is placed but even though they are gambling they have a very successful business model.
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Old Jun 4, 2011, 3:34pm   #32
 
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Re: Something wrong...

I'd say it is a form of gambling as the outcome cannot be known. It's not as if we are buying a load of fruit, putting a mark up on it and selling it for profit. Although I so like how Beginner Joe puts it.....

Quote:
Originally Posted by BeginnerJoe View Post
If you want to be pedantic, then crossing the road is a gamble. Since a lot of us are very proficient at it, we know we are not gambling. I am of the view that the difference between trading and gambling is risk control and profit performance. If you are consistently profitable, then you are doing trading rather than gambling.
The only difference really is that with trading you choose your own odds in the form of risk:reward, although this will obviously affect your hit rate.

Kimo, are you coaching now? If so what are you coaching and how much are you charging? Do you have a website?

Sam.
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