I don't think it is semantics. Acting on an edge and predicting are 2 seperate things. When we act on our edge we are simply relying on the fact that in the 000's of times that edge has set-up in the past it achieved a winning outcome on x % of times When we act on our edge we know and accept that we do not know what will happen next - ie which times will produce winning or losing outcomes...we are not predicting what will happen - we cannot as has already been stated - we are simply playing the edge and if we optimise our money and risk management to the edge then we will make money over any given sample of times the edge sets-up. Prediction would be entering the market beacuse we think we know what the future direction will be. It's more than semantics - there is a difference.
G/L
Again, your argument is purely semantics.
But, if we need to go there, let's first look at what the dictionary says a prediction is:
Prediction
Pronunciation: /prɪˈdɪkʃ(ə)n/
noun
a thing predicted; a forecast:
a prediction that economic growth would resume
[mass noun] the action of predicting something:
the prediction of future behaviour
This says nothing about certainty. If an outcome to a situation occurs 99 times out of 100, then you can forecast/estimate/predict that on the balance of probabilities, it will occur next time that situation occurs.
This is what a prediction is. It is nothing to do with certainty. It is about a FUTURE outcome. It is nothing magical.
Just so we are clear : No body can predict the future - even those that think they can. There are no dissenters to this statement are there ? surely not ?
G/L
Yes they can. People do it all the time. Just not with certainty. Companies use forecasting software to set inventory levels based on seasonality. These companies put their money on these inventory levels.
Not only is predicting the future possible, some businesses would not be able to run without doing so to some degree of accuracy.
How, for instance, do you think that your local Supermarket sets the inventory level of perishable goods when you move from Summer to Winter? Shoppers don't order goods ahead of time. The Supermarkets have to predict future demand. This is not to say that they know Joe Bloggs is going to feel a bit peckish on Thursday lunch time and pop in for a sandwich. They do know past trends. Patterns of shopping behaviour change with the seasons and some broad predictions can be made as to what the impact will be.
Tell you what - I predict that next March, people in the UK will be buying easter eggs. You want to bet against me?