How about Gambling for a living

Miki

Member
98 1
Traders are professional gamblers in a way – they move the odds in their favour and then place a bet. Both manage risk well.
 

GameOver22

Junior member
32 0
Miki said:
Traders are professional gamblers in a way – they move the odds in their favour and then place a bet. Both manage risk well.

No, trading is not gambling, simply look up the definitions.

You are not "placing a bet", you are buying shares in a company. If you are not aware of this, stop what you are doing!!!
 

mickandpete

Active member
176 3
GameOver22 said:
No, trading is not gambling, simply look up the definitions.

You are not "placing a bet", you are buying shares in a company. If you are not aware of this, stop what you are doing!!!
Having read your cloaked pleas for employment on your other thread I wonder if your response is yours or your "Mentors".
Despite many claims to the contary trading is a form of gambling.
Playing poker online successfully requires a considerable amount of skill (knowledge) and many traders would benefit from learning and employing the disciplines required to be profitable.
 

GameOver22

Junior member
32 0
MikeandPete,

Im not too sure how to take your post, as it was not worth writing. The response is fully mine, not my mentor.

Pleas for employment? I am just interested in my career options, as i would like a job in the stock field. I already work full time, thankyou.

"Despite many claims to the contary trading is a form of gambling", no. If you see YOUR trades as a gamble, ide say that you dont do so well, or you lose alot of money, you should never gamble. If you see your trades as a gamble, i think you are best advised to stop now, before your losses get out of hand.

"Playing poker online", not sure what poker has to do with buying shares, but poker is gambling, and you should only play it for fun! Or if you want to give money away.

Buying or selling shares is not gambling, some people buy shares just to be a share holder, other people buy shares to get the benefits of being a share holder, then they will sell the shares when they like, as they may not of been trying to make a profit, and some people buy shares to gain some control of the company, some people, like me, buy shares for long holds, for up to 2 years. People buy shares for lots and lots of different reasons.

The bank may not loan you 30,000 pounds, because they see you as a "risk". But they will pump millions of pounds into a stock, so, again, if you are seeing your trades as a gamble, please educate yourself further, or stop.

"Despite many claims to the contary trading is a form of gambling", to save you lots of time and hassle, simply look up the definition of "Gambling", and the definition of "Investing", and that solves that one.

Have a good day.

Thanks

Matt
 

Trader333

Moderator
8,639 969
If you see YOUR trades as a gamble, ide say that you dont do so well, or you lose alot of money, you should never gamble

How you see your trades is not relevent to the fact that it involves risk and risk means a gamble. Also your examples only talk of buying and selling shares but trading involves currencies, futures and many other instruments. The only time that risk does not involve gambling is when you engage in activities that have none. Personally I dont see what the problem is, I would have no issue with being called a professional gambler and I am sure many others wouldnt either.


Paul
 

RUDEBOY

Experienced member
1,157 6
DEFINITIONS? Don't tell me about gambling and the markets! If there was one person in each market who knew every twist and turn on every time frame, for definate,.......the markets would end!

The markets only exist through not knowing and opposite thought. The person in this world who is so absolute about the markets can only exist within certain times and markets.....for there is much unknowing.

Quote: Me!

Everybody who is anybody knows enough. But, not enough to rule in absolute. That is your character. The market thrives upon that, you do not know. How else would it work?

Quote: Me.

Now,.....tell me about not gambling?

Quote: Me.

Oh, and by the way. Unless you are a professional trader,........don't bother!
 
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frugi

1
1,827 126
Merged just for old times' sake you understand Rudeboy. :) A Happy New Year to you.

"Playing poker online", not sure what poker has to do with buying shares, but poker is gambling, and you should only play it for fun! Or if you want to give money away.

Aww bless :D

Trading and poker are both games of skill that involve probabilistic outcomes. Although "game" when applied to trading is a somewhat flippant term, as we are also talking about a relentless war for profits (also the case for professional pokerers :) ).
 

RUDEBOY

Experienced member
1,157 6
Oh, and another thing. For all you spare bedroom traders out there? Who is under more pressure? How many catorgories can we split, let me start. Professional: It's not his money, but his second chance may not be as real as somebody who trades thier own money? I can see the answers now,.......but, who's money do you ever want to lose? You are good,.......or you are bad!
 

RUDEBOY

Experienced member
1,157 6
Hello, Frugi. For the record, i like you. You always seemed fair and correct about your trading. I'm going for a ciggy. See you in a bit.
 

mickandpete

Active member
176 3
The comparision with poker and trading may be closer than many think.
Taking the most popular form,Texas Hold Em.
Hands are made from 2 Hole cards unseen by the others, and 5 community cards, seen by all.
The ranking is the same as in all other forms of poker.
The chance of winning is basically determined by your hole cards.
After the hole cards (your entry) a round of betting determines if you play or fold,by betting higher (raising) you can manipulate the number of opponents you are opposing.
The next round is the " flop" 3 cards,if by now with your hole cards you have no chance of forming a decent hand it is very advisable to fold (close).
The last 2 cards are dealt one by one and a round of betting ensues after each is dealt.
Players either fold or a "show" is made to determine the winner.
I would suggest that this game mimicks closely all the requistes of a trader.
Knowing when to enter,having seen 5/7 of the cards determing wheither to continue, and then the same with the remaining cards.
The more knowledgible and expert the player,the more he will win in the long run.Of course there will be losing days,but overall the best player will win.
This comparison is amplified when in tournament play.
For example 200 mplayers start with the same amount of chips, play continues untill a player has lost his chips ,when he is "out".Play continues untill for example there are 30 left,where the payout starts, the lower the number left the higher the reward.
Defense in tournament play is vital, as once you are out,you are out.
You are only playing your opponents not a "house" all though a commision is payable to the provider or if you like a brokerage.
 
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RUDEBOY

Experienced member
1,157 6
MandP. I'm sure there is a cycle for any trader. Firstly....unknowing, then knowing, then unknowing and so on. Where do you get off? I'm sure i don't really know. That's my logic.
 

GameOver22

Junior member
32 0
Hi

MikeandPete,

Your posts would have more credibility to me if i had not of clicked on your profile, then clicked view all posts by you, and saw that 95% of all your posts here feature negative comments.

It seems alot of you dont know what 'Gambling" is, and thats very worrying (not for me, as i will happily take your money lol).

Definition of "Gambling":

Gambling includes any money won playing slot machines, bingo, or the lottery. It also includes money derived from betting on horse races, boxing, sumo wrestlers.

Another definition:

"Gamble"
verb gambled, gambling

tr & intr
1. To bet (usually money) on the result of a card game, horse race, etc.
Thesaurus: bet, wager, stake, hazard, speculate, prospect.2. To lose (money or other assets) through gambling.
Form: gamble something away.

What im talking about it buying/selling shares only, as thats what i do, i have never traded Forex or anything else, i only ever buy shares for the long hold.

Yes, there is "risk" in stocks, in Forex, in what ever you trade. But, there is "risk" when you drive to a 9-5 in the morning, if you perform badly at your 9-5, theres a "risk" of you getting sacked. So risk is not my issue, i minimize that, like we all try to.

Yes, some of the same skills that we need to trade are used in other things, like poker, we even use skills from accounting, money management, and all sorts, that does not mean were accountants.

I dont know what to call Forex, but by definition, its not gambling, risk is involved, but its simply not gamling, i cant make it any clearer than i have already with two definitions for you.

Are you telling us that Malkom Glazior (who just brought Manchester UTD) is a gambler? No, he brought 90% of the shares so he could take control of the business and own the club (not that people wanted him to!).

I think some of you are getting confused with gambling, poker, Forex, i buy and sell shares, i know the definitions, and i know i would never gamble a penny, i would not even put 50p in a fruit machine, i dont like risk! I studied charts with a few mentors for almost a year before buying anything, all the charts work the same.

Thats what i meant, if your getting into a trade, and you see it as a gamble (which means, BETTING ON AN UNCERTAIN OUTCOME), then you should not be getting in it until you educate yourself more.

Thanks

Matt :cool:
 
 
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