Is trading a gambling?
- Thread starter sgkwt
- Start date
Orders could never be completed or purchasers may back out for various reasons. Any scenario is possible. Point is all businesses involve an element of risk of the unknown. Thats a calculated Gamble and nothing wrong with it. I don't know why people are shying away from calling a spade a spade.:rofl:
I am trader too. Call me a gambler if u like, as long as I am successful its all that matters.
Have a nice weekend every one.
I am trader too. Call me a gambler if u like, as long as I am successful its all that matters.
Have a nice weekend every one.
M in stock market last 16 yrs to go ...........I think intraday is pure gambling....long term might not gambling......why intraday? My experience says if ur stocks rely on news its pure gambling...let me explain if ur system showing buy signal n u r 99% sure stocks will run......but suddenly LADEN attacked USA then ur 99% sure buy call come down to 99% sell call.........m not wise like columbus..Linkon7 ......but my experience says intraday is pure GAMBLING...that's why I called myself GREAT GAMBLER...
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Laden to door ki baat hai , bro think DMK, Saudi , oil...
I always buy spare puts as a lottery investment. They have always returned at least 5x the investment annually.
Feb 2008 I had purchased 6000 puts when index was 6200+ cashed @ about 4800. Pure gamble or tukka in PT's words. All credit to market nothing technical or fundu or astro about it.:rofl:
By the way where is tukkamaster.
I always buy spare puts as a lottery investment. They have always returned at least 5x the investment annually.
Feb 2008 I had purchased 6000 puts when index was 6200+ cashed @ about 4800. Pure gamble or tukka in PT's words. All credit to market nothing technical or fundu or astro about it.:rofl:
By the way where is tukkamaster.
What does gambling mean? If it means betting on a certain outcome within a set of possible outcomes on which you have no control yourself well then trading is gambling.
But every time I drive and I see the person in front of me flashing his left indicator and I go past him through his right, I am assuming that he would not sverve to the right. Am I not betting my life on the actions of that guy the actions on which i have no control on? What if he did swerve to right. What if the truck guy I am trying to overtake suddenly decides to throw me out of the road? Am I not betting my life on the assumption that he s not insane. Everytime I board a flight am i not betting my life on the assumption that the pilot is competent has done his job and the inspection team and the system in place is doing its job? Is all this not a gamble. Infact is our life not a big gamble? So why single trading out. Everything that has risk and factors out of your control is a gamble just at varied levels.
Working at a firm is a gamble what if it shuts down tomorrow. Ofcourse you reduce the risks by doing your due deligence and making sure you have plans b, c and d or making sure u join a firm thats reliable. But during recession many people working in big companies too were laid off. So did nt their gamble fail them?
Its a matter of having your action plans chalked out for a varied courses of outcome and unless one has that he may find it difficult anywhere forget trading.
Everytime the tiger hunts down a gaur its taking a huge gamble in assuming that the gaur does nt turn around and decides to take the fight to the tiger. Everytime a leopard hunts down a buffallo calf amidst the chaos unleashed by a pride of lions on the buffallo herd, its taking a gamble in assuming it wont be noticed by the pride or a pack of oppurtunist hyenas.
But tigers do hunt gaurs and leopards do hunt under the nose of the lion prides....
On a hindsight I guess a seasoned trader gives more thought to his trading and has more clear plans for various outcomes than a we have for our daily mundane activities. After all what plan B can we have for an insane truck driver trying to push us off the road on the highway.
But every time I drive and I see the person in front of me flashing his left indicator and I go past him through his right, I am assuming that he would not sverve to the right. Am I not betting my life on the actions of that guy the actions on which i have no control on? What if he did swerve to right. What if the truck guy I am trying to overtake suddenly decides to throw me out of the road? Am I not betting my life on the assumption that he s not insane. Everytime I board a flight am i not betting my life on the assumption that the pilot is competent has done his job and the inspection team and the system in place is doing its job? Is all this not a gamble. Infact is our life not a big gamble? So why single trading out. Everything that has risk and factors out of your control is a gamble just at varied levels.
Working at a firm is a gamble what if it shuts down tomorrow. Ofcourse you reduce the risks by doing your due deligence and making sure you have plans b, c and d or making sure u join a firm thats reliable. But during recession many people working in big companies too were laid off. So did nt their gamble fail them?
Its a matter of having your action plans chalked out for a varied courses of outcome and unless one has that he may find it difficult anywhere forget trading.
Everytime the tiger hunts down a gaur its taking a huge gamble in assuming that the gaur does nt turn around and decides to take the fight to the tiger. Everytime a leopard hunts down a buffallo calf amidst the chaos unleashed by a pride of lions on the buffallo herd, its taking a gamble in assuming it wont be noticed by the pride or a pack of oppurtunist hyenas.
But tigers do hunt gaurs and leopards do hunt under the nose of the lion prides....
On a hindsight I guess a seasoned trader gives more thought to his trading and has more clear plans for various outcomes than a we have for our daily mundane activities. After all what plan B can we have for an insane truck driver trying to push us off the road on the highway.
Hey,
IMO..........if trading becomes compulsion even in absence of tested valid setups........surely its a gambling tendency.
Barometer to check whether trading is gambling or not is ratio between non trading days and trading days. Remember that nontrading decision should not be out of other engagements but out of choice.
Refrain from trading for 21 trading days in a row even if a trade looks mouthwatering but donot leave the monitor. If able to control your desire to trade for 21 consequitive days then assume you donot have gambling tendency.
with regards.
IMO..........if trading becomes compulsion even in absence of tested valid setups........surely its a gambling tendency.
Barometer to check whether trading is gambling or not is ratio between non trading days and trading days. Remember that nontrading decision should not be out of other engagements but out of choice.
Refrain from trading for 21 trading days in a row even if a trade looks mouthwatering but donot leave the monitor. If able to control your desire to trade for 21 consequitive days then assume you donot have gambling tendency.
with regards.
Sumo that part of the patience is trading. You have to go through that in order to maturate a methodology that makes you the top in your class. Winners are in the top 10%. They are the ones who have the patience to pay the price. Winners are also reaping the great rewards from paying the price. The 90% are bemoaning their fate, and use the gambling cop out.
BTW, 3 years of development is worth it. It takes less than that to make a million. Just the simple truth.
BTW, 3 years of development is worth it. It takes less than that to make a million. Just the simple truth.
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