Is trading a gambling?

[4xpipcounter]

In trading, I do have control. My methodology is the control element .It is the crystal ball that allows me to look into the future. It is what makes me successful as a professional trader.
Therefore, if gambling is something you have no control over (and that is true), then trading cannot be gambling, because I am in complete control. Read my thread and compare for yourself. (I did not mean to be factitious.)

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.

 

[ashwani chadha]

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.

three years of development worh it ,its perfect,because what you loose during development of the skill you get back 10 time of that in next year,& still you have furthur lot of period in next years to take advantage of your skill,to earn money and enjoy life ,for rest of your journey

 

[4xpipcounter]

Veluri, this is something I love. I do not want to stay away from it for 21 days. I have a vacation period for one week that my wife makes sure I'm not near a computer. We take vacations more than one week per year, but the 1st week in August is the time I don't do near a computer.

Objectively, I would also like to say, if someone is sitting in front of the computer for 21 days, and they resist making a trade for all that time, it would not make any sense. This is my livelihood. I have to hit the sell or the buy button occasionally. If I don't. I don't make any money. Tucker likes wonderful dog treats, so I need to press the button. (It's okay to laugh on that one.)

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.

 

[4xpipcounter]

Ashwani, you spend 3 years working for free, and then make big bucks one year after, and it just keeps growing. Amazing!

three years of development worh it ,its perfect,because what you loose during development of the skill you get back 10 time of that in next year,& still you have furthur lot of period in next years to take advantage of your skill,to earn money and enjoy life ,for rest of your journey

 

[4xpipcounter]

"IMO..........if trading becomes compulsion even in absence of tested valid setups........surely its a gambling tendency."--Veluri.

I guess in this regard you could look at this as a gamble. I've looked at it a little differently. No one will make money in this business unless they have the proper skills. Without a winning methodology, the trader is doomed. It takes time to develop those skills.
If I was to be hired as a mechanic or a carpenter, I would surely fail, because I have no skills along those lines. If I wanted to be in one of those trades, it would take years for me to develop.
My question is, "Is it not all the more important to develop your skills in our line of business, considering there is live money at stake, and considering all the money there is to be made? Does it not pay to take them time to develop those skills? So what if you have to work for free for 1, or 3, or 5, or even 10 years. Once you are out of 'training' You have all that is need to be a millionaire."

 

[vibhunair]

In trading, I do have control. My methodology is the control element .It is the crystal ball that allows me to look into the future. It is what makes me successful as a professional trader.
Therefore, if gambling is something you have no control over (and that is true), then trading cannot be gambling, because I am in complete control. Read my thread and compare for yourself. (I did not mean to be factitious.)

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.

Dear 4xpipcounter

You are a seasoned trader and i m just one with what 3 months in the markets. So obviously am no one to argue with you. I have gone through your posts on your own thread and many other threads here on traderji and I feel privilaged even to be able to go through them.

However I certainly did dnt mean to imply that trading is akin to gambling in the real sense of the word. What I wanted to portray was that if trading is gambling then many of the mundane tasks which we do daily is more so than trading. The part of my post highlighted by you does look as if if did mean trading is gambling, but i think the whole post in totality did convey what I really meant. Incase i was not able to do so, then well sorry.
By that post I just meant that if trading is gambling then everything else is too. Sorry if I could nt convey it the right way.

 

[4xpipcounter]

You're right. I took it wrong. I took it as referring to trading as gambling in the strictest sense. In other words: Gamblers, traders...All the same people.
And, soooo, I apologize.

In trading, I do have control. My methodology is the control element .It is the crystal ball that allows me to look into the future. It is what makes me successful as a professional trader.
Therefore, if gambling is something you have no control over (and that is true), then trading cannot be gambling, because I am in complete control. Read my thread and compare for yourself. (I did not mean to be factitious.)




Dear 4xpipcounter

You are a seasoned trader and i m just one with what 3 months in the markets. So obviously am no one to argue with you. I have gone through your posts on your own thread and many other threads here on traderji and I feel privilaged even to be able to go through them.

However I certainly did dnt mean to imply that trading is akin to gambling in the real sense of the word. What I wanted to portray was that if trading is gambling then many of the mundane tasks which we do daily is more so than trading. The part of my post highlighted by you does look as if if did mean trading is gambling, but i think the whole post in totality did convey what I really meant. Incase i was not able to do so, then well sorry.
By that post I just meant that if trading is gambling then everything else is too. Sorry if I could nt convey it the right way.

 

[4xpipcounter]

Rajsingh, I hope I am interpreting you right. We are calling a spade a spade. We are calling gambling, gambling, and trading, trading. We are not calling trading gambling, because that would be calling a spade a diamond.

And, I hope you also have a good weekend.

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.

 

[Vector]

Another great evil arising from this desire to be thought rich; or rather, from the desire not to be thought poor, is the destructive thing which has been honored by the name of "speculation"; but which ought to be called Gambling.
William Cobbett

 

[4xpipcounter]

And then when you become rich, you learn it took work and dedication. You find out quick there was no gamble. Come join the rich, and you will know there was no gamble.

Now, let me ask you. What evil is there in being rich?

Another great evil arising from this desire to be thought rich; or rather, from the desire not to be thought poor, is the destructive thing which has been honored by the name of "speculation"; but which ought to be called Gambling.
William Cobbett