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henlatourrette
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I believe that in trading you can control your risk/reward ratio much more than in gambling.
However, both have the uncertainty variable that makes them exciting.
However, both have the uncertainty variable that makes them exciting.
its not gambling,its more like candy crush.you sort of think you know what you are doing but those damn candies just explode any which way they like.if you want them to explode vertically,theyl go horizontal and vice versa.and sometimes they might just go the way you need leaving you thinking you know what your doing
Trading takes years of practise, and until that point where you find a strategy that works,then you are probably gambling.
To find a strategy that gives you consistency is very hard to come by and will take many failures before you "might" succeed.
Find someone who trades for a living and beg or pay them to show you their strategies to save yourself at least 2 years. even after 2 years you may still be struggling if you go it alone.
Make sure that person or company can "prove" they are profitable by showing you their recorded trades and profitable trade accounts.
Unless they can prove this to you , DO NOT believe them.
To find a strategy that gives you consistency is very hard to come by and will take many failures before you "might" succeed.
Find someone who trades for a living and beg or pay them to show you their strategies to save yourself at least 2 years. even after 2 years you may still be struggling if you go it alone.
Make sure that person or company can "prove" they are profitable by showing you their recorded trades and profitable trade accounts.
Unless they can prove this to you , DO NOT believe them.
Jack o'Clubs
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Not really because spread betting is set up like a bookies. First, they pay betting tax on your trade (same as if you were betting on the geegees) - that's hidden in the spread - second they are the counterparty laying your bet. Of course, if you spreadbet forex it's the same thing, but if you're in the market via an ECN then you are entering a genuine financial transaction in the market and it's taxed as such. In reality spread betting is taking advantage of a loophole but when it's been looked at (most recently by the House of Lords), they concluded HMRC would lose more from the lack of betting tax than they would gain from CGT from the comparatively small number of long term winners.
verial
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If you have a system that's statistically backed and can control your emotions, being a pro trader is more like being a casino: You WILL make money in the long-run, even if a few trades (not "gambles") in every dozen fail.
I made a video on this:
https://www.youtube.com/watch?v=7_fRKPzBC2E
I made a video on this:
https://www.youtube.com/watch?v=7_fRKPzBC2E
terriegym
Active member
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Thanks for that sorry to be thick, whats an ECN?
Jack o'Clubs
Experienced member
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Jack o'Clubs
Experienced member
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Unless you're talking about poker, then there's no way you make money in the long term in a casino. Unless you're the owner. That's what the house edge is for... It can't be beat.
terriegym
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Ah got it now thanks
verial
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Please reread what I wrote. I said that being a pro trader is like BEING a casino. You have a system that lets you profit in the long-term, over several "games."
Also, the card game you're thinking of is probably blackjack, which is the only game that can get you above a 50% expectation of winning - and that's assuming you can count cards!
Jack o'Clubs
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Apologies, I did indeed misread.
NVP
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most traders are gamblers ...........that's why they lose.....a good trader is the casino....... like an excellent post earlier stated.......just nudge the odds a few points onto your side and wait for probability/ increasing sample size to do the rest
We can say there motives are same to earn profits, but the main thing which makes major differences are as follows :-most traders are gamblers ...........that's why they lose.....a good trader is the casino....... like an excellent post earlier stated.......just nudge the odds a few points onto your side and wait for probability/ increasing sample size to do the rest
(i)Trader knows that profits often take time. A gambler is in it for quick bucks.
(ii)Trader knows that the trading is bit boring, and repetitive. A gambler is caught up in the excitement.
(iii) Trader has a back tested strategy that, over time, will consistently win. A gambler has the odds against him.
(iv) Trader focuses on the risk before anything, knowing profit will come as an after thought. A gambler focuses on the potential for winning, with no concept of risk.
I would suggest that gambling is a mentality. There's a saying that you 'get out of the markets, what you put in'. Strangely enough, some are happy losing at gambling and trading because it backs up there low opinion of themselves and what they see as hopeless pursuits. Both trading and sports betting can be beaten if you apply yourself and develop proper rules, research, and staking plans.
Just checking in with T2W after a couple of years. Good to see the site is doing well.
Regarding some of the replies in connection with "Gambling vs. Trading." - It makes sense to only trade when you have an edge, of course. Can someone please define what they consider to be the edge that they wait for (set-up)? Trading is always gambling IMO, but just as one of the posters said, if you understand both well, you will only count cards in blackjack, or learn to trade professionally (in the sense of actually determining if you have that "edge" everyone talks about). Much like my 35 years in both blackjack and trading, 95% of those who think they have an "edge" - really don't.
All the best to everyone,
Don
Regarding some of the replies in connection with "Gambling vs. Trading." - It makes sense to only trade when you have an edge, of course. Can someone please define what they consider to be the edge that they wait for (set-up)? Trading is always gambling IMO, but just as one of the posters said, if you understand both well, you will only count cards in blackjack, or learn to trade professionally (in the sense of actually determining if you have that "edge" everyone talks about). Much like my 35 years in both blackjack and trading, 95% of those who think they have an "edge" - really don't.
All the best to everyone,
Don
Hi guys. I am new to Forex trading and have taken a great liking recently. I think forums will help me learn a lot.
I would say gambling is same as trading in a way though not entirely. Both have risks,uncertainities and luck associated with them.
I would say gambling is same as trading in a way though not entirely. Both have risks,uncertainities and luck associated with them.
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trading has a huge potential to turn into gambling compared to many other jobs for many various reasons , but good trading is not gambling, good trading is knowing when the impulse of gambling is kicking in and not being overcome with that impulse. Gambling is a reaction mode, is about getting excited, one day very happy, the other day very depressed, good trading is more of a reflective mode, it is about contentment despite the outcome, it is also gently enjoyable if approached with the right attitude, that attitude will not be found, but it can only be created with constant openness....
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