How about Gambling for a living

[Trader333]

They ARE risk free, because as stated, not everybody buy shares to make a profit! Some people buy shares to gain control of a company, or just to be a share holder, to get the benefits of being a shareholder, so you are wrong.

The category you talk of are not "Traders" and as this is all that this site is about I fear you are posting and talking at completely cross purposes to almost all other people who post on this site. Every trader I know buys and sells to make a profit and I do not have the luxury of frequenting the circles of those who buy to take control of entire companies. Even those institutions that are quietly accumulating stock do so to make a profit and not as a means of gaining control of companies.

Where traders and trading are concerned there is risk and that is all there is to it


Paul

 

[jezza888]

Spot on Paul...

Maybe you should ask yourself why you have an issue with whether its catergarized as gambling or trading... I don't see what difference it makes... I am a trader... every time I press the left mouse button I take a gamble, its a calculated risk but its still a gamble, so what...

Gambler or trader... what does it really matter?

 

[GameOver22]

I look down on gamblers, gamblers are seen as losers to most, that is my problem with it.

Traders are traders, gamblers are gamblers, there is a fine line, but there is a difference.

I would NEVER in my life gamble a single penny of my money.

But i shall keep making those big percent gains for my long holds ;o).

As i say, if you see a trade as a gamble, your in the wrong business. And you are only hurting yourself.

When i made that 500% gain, it was people like you i was taking the money off, remember that. So please think harder when you tell me i am wrong, as im simply, and politely, not.

Night.

 

[nine]

I look down on gamblers, gamblers are seen as losers to most, that is my problem with it.

<<>>

When i made that 500% gain, it was people like you i was taking the money off, remember that. So please think harder when you tell me i am wrong, as im simply, and politely, not.

Night.

Thus demonstrating your psychological weakness ... but we'll never see it bite you because you will stop posting ... and your complete lack of understanding of "trading." May you and your kind continue to fund the markets in 2006 and beyond.

Happy New Year to all the real traders and to those who are trying to become traders.
Good Luck to you all

 

[GameOver22]

Your right, i will stop posting soon, as this forum is full of posters who find it a challenge to understand simple terms and phrases.

Im a kind person, i would help people who wanted to know how to find the big trades (i mean, helping newbies etc), and in return, i wanted advice about becoming a stock broker (in my other thread), thats all.

I just posted in this thread because trading is not gambling, it is risky for some, but not gambling.

 

[Trader333]

When i made that 500% gain, it was people like you i was taking the money off, remember that. So please think harder when you tell me i am wrong, as im simply, and politely, not.

Not from me you didnt.

The whole question about whether trading is gambling is not about the activity but more about the approach and attitude of those engaged in it. I know of people who back horses for a living so are they gamblers ? they make consistent profits year in and year out. I also know of people (and extremely wealthy but not from trading) who lose money year in and year out trading so are they gamblers ? I would say that they are. What about all those so called "Investors" who jumped on the stock market bandwagon in 2000 and lost an absolute fortune, are they gamblers ? most would say not but they still lost money. Some were even arrogant enough to blame others for their losses which has now resulted in ludricous legislation coming in via the EU on Execution Only trading.

Anyway the point is that gambling is more about attitude and discipline and can apply to any activity where risk is involved. The only time gambling can be excluded is where risk is not present even if the odds are hugely stacked in ones favour.


Paul

 

[fxmarkets]

I look down on gamblers, gamblers are seen as losers to most, that is my problem with it.

I would NEVER in my life gamble a single penny of my money.


So please think harder when you tell me i am wrong, as im simply, and politely, not.

Night.

words are meaningless, but the associations we ATTACH to them however can have an affect on us.

seen as losers to most ? maybe its better for us if we step outside the circle and determine if we need to be with the "most" and blindly think that things are so because most are saying so.

losers winners, are we not all winners in life because of Life itself.? The rest is our experience we choose . Then theres conditioning since birth.


now it might be helpful if you say why it is you have a problem with gamblers seen as losers?
what is the worst thing that can happen? if and at some point someone may say to you..... trading shares. ohhhh your a gambler then. (their belief not yours) you perhaps will avoid and defend and block any aspect of identifying with being a loser ,because by your definition, gamblers are losers here etc.....

I mean you will encounter losing trades, its actually beneficial ,long term if you get that "kicked" into you at some point by the market, we then have to deal with the issue of winners and losers which can take time,varying by how fixed our beliefs are on identifying with I'm a winner and I'm a loser as seen by the "most" .

I think at the moment, that when we approach the market in the early years this trial and error stage winning ,losing, our emotions kicking in etc. is partly a great deal to do with figuring out how to act or be with a very dynamic and ever fluid shifting of hurdles.

we are not used to it, as we are conditioned to conform to rigid rules and apply rigid thinking to uphold our installed beliefs which if used in the markets are simply not the tool for the job required.

Its ok to take a trading loss, now if you identify as being a loser for doing that, then thats when a time and money extension required to fund your self learning will continue and be ongoing until you or WE change ourselves and not as humans naturally want to do and force to change their external environment first.

hmm ive rambled on to losing from gambling taggs, but only because you mentioned you "have a problem" with losers gamblers etc..

all the best for 2006, and remember trading losers are humans too but their self education still needs to be attended to. and it will not be offered on a plate, although the plate sits right on the table in front of them/us/we/everyone/together.

Fx.

 

[barjon]

What's in a word?

Chambers defines gamble as to engage in wild financial speculations and to take great risks for the sake of positive advantage

So, if the cap fits..............

Happy New Year

jon

 

[mickandpete]

I look down on gamblers, gamblers are seen as losers to most, that is my problem with it.

Traders are traders, gamblers are gamblers, there is a fine line, but there is a difference.

I would NEVER in my life gamble a single penny of my money.

But i shall keep making those big percent gains for my long holds ;o).

As i say, if you see a trade as a gamble, your in the wrong business. And you are only hurting yourself.

When i made that 500% gain, it was people like you i was taking the money off, remember that. So please think harder when you tell me i am wrong, as im simply, and politely, not.

Night.

Gameover
I find it hard to reconcile your above claims with your posts here

http://www.trade2win.com/boards/sho...w.trade2win.com/boards/showthread.php?t=17659

 

[CityTrader]

Of course it's Gambling. There's no such thing as a " sure thing" otherwise every single trade is a gamble - all be it one in which the iniatiator feels he has the upper hand. i.e he expects to make money from the trade. In my days as a market maker in The City, I viewed the whole thing as a game. And the P&L was the scoring system - and those with a lousy score ( read negative P&L) were eliminated ( sacked) from the game. Survival of the fittest.

CT

 

[peto]

Gameover
I find it hard to reconcile your above claims with your posts here

http://www.trade2win.com/boards/sho...w.trade2win.com/boards/showthread.php?t=17659

Nah, me neither

I studied charts with a few mentors for almost a year before buying anything

I hold for up to 2 years.

Heres the type of long term chart i like..........The break out was in July 2005. [chart shows illiquid stock that breaks by gapping up to 2.2 and might have been caught at 5ish with a trailing stop or about 7 with a fluke ... no chance of 500% in the real world here]

I have been learning how to trade with my mentor for 6 months now, in a year or two from now, after some real trading, and after ive learnt alot more, i would love to have a salery job in trading.

What you really mean is : "I have been very busy with my mentor for 6 months (or nearly a year, heck, who's counting) who has shown me lots of pretty charts like the one I posted, and I dream that I will be able to see and trade these opportunities in the future in real-time. My expectations of success empower me to rubbish the opinions of experienced and seasoned professional traders with whome I disagree.

I am supremely overconfident so expect 100% success rate. Shares that I choose will never suddenly go down on news/announcements/market crashes because ..er... just because, ok? I haven't traded anything yet, but when I do I expect to hold for around 2 years. That will make me a long -term investor, not a trader.....oops I'm on a traders board...er...bye....?

 

[GameOver22]

HOM, was the 1st stock i did.

Yes, ive been with a mentor for 8 months now.

I dont expect a 100% success rate.

Good try though lol.

 

[nine]

If you don't expect a 100% success rate, then by your earlier definition YOU are a GAMBLER.

"BETTING ON AN UNCERTAIN OUTCOME"

If this refreshing honesty continues you could become a trader one day.

 

[GameOver22]

"BETTING ON AN UNCERTAIN OUTCOME"

Again, im not betting on anything, im BUYING SHARES IN A COMPANY, TO BECOME A SHARE-HOLDER.

I dont expect to profit on every single trade until i retire, no.

But, i ONLY get into a trade, when i know EXACTLY why im getting into the trade, i know where the price is going to go, and whats going on, then and ONLY then, will i buy it.

So, i am not a gambler, never will be a gambler.

And no matter how many of you say im wrong, it will NOT, change the fact that i think im not a gambler.

Just like if i brought a house, and the price fell, i would not be a gambler, it would just be a royal pain in the ass.

Good day.

 

[nine]

LOL.

"i know where the price is going to go"

Gosh you're good ... but if you could just admit it you could be even better

The definition of gambling above is your definition - and by that definition (unless the self deceiving quote above is really correct) you are a gambler.

 

[GameOver22]

Oh, sorry. Did you think my comments were debatable? Just for clarification, none of my comments are up for debate.

Thankyou

Good day

 

[CityTrader]

Oh, sorry. Did you think my comments were debatable? Just for clarification, none of my comments are up for debate.

Thankyou

Good day

And I thought this was a dicussion board. Silly old me....

Just for clarifiaction, from what I can understand, you are an investor, not a trader. And if you are naive enough to believe you can invest in an individual company on the basis of a chart displaying it's past performance, then I wish you all the best of luck, as you will need it. Even though luck would imply gambling. Wich of course you dont do....

 

[jimbo57]

Oh, sorry. Did you think my comments were debatable? Just for clarification, none of my comments are up for debate.

Thankyou

Good day

If they are not up for debate why bother posting them other than as an exercise in self aggrandizement?

 

[CityTrader]

Oh, sorry. Did you think my comments were debatable? Just for clarification, none of my comments are up for debate.

Thankyou

Good day

I've just read some of your earlier posts.

http://www.trade2win.com/boards/showthread.php?t=17761 - where you've state you spent time learning to trade with a "mentor "who lives 5,000 miles away ( like an Internet correspondence course????) Are you really ****ing serious? And you think you can invest? hahah I love this board.

and you ask for advice on getting a job? I think with your "know it all " attitude your lack of experience, and your refusal to admit that you gamble, would mean you have zero chance of a job. You need to learn, to admit when you're wrong.

 

[Trader333]

......... i know where the price is going to go........

This is the same belief that is commonly known as "Gamblers Fallacy" ie believing that you can know where the price is going when in fact this is not possible. The evidence is getting stronger that not only are you not a trader or a true investor but a compulsive gambler. One of the symptoms is refusing to discuss or acknowledge any reasonable arguments on the grounds that only you are right and that you are not a gambler or have a gambling problem.

I suggest you contact Gamblers Anonymous who may be able to help you

Here is the link: www.gamblersanonymous.org.uk


Paul