I’m known for asking silly questions so I guess one more wont cause much harm, lol. For the record my answer is yes. What do you think?
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For me, well they ought to have. They should be able to realistically gauge probability with incomplete information and they should be comfortable with ensuring they take a known risk.
Then again, how many gamblers are profitable?
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USA stats reveal over the last decade 85% of traders are not profitable. One main reason is gambling their accounts until it blows hot air.
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learning how to gamble is crucial part of my learning process ,somehow at one point you feel despair and give up traditional technique ,you start learning gambling ,it give you another good point of view.as a trader .but does it have anything to do with constant profiting ?not really …
There’s one thing gamblers and traders have in common: wanting to make money lol. Now if gamblers have an edge in trading, I’m not sure. Depends on how good of a gambler they are!
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Gambling and forex trading are two very different activities, and it is not necessarily true that people who gamble have an edge in forex trading.
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I think they have, well it all depends on their way of doing a thing. Risks are anyway involved.
All I know according to my experience is that gambling is never going to benefit you in the long run.
People who take forex trading as a gamble will not be able to sustain the marketplace. This is not some wild prediction and tinker tailor soldier spy game.
All I know is that gambling can never do you any good in the long run.
Wikipedia tells us that gambling is “the wagering something of value (“the stakes”) on an event with an uncertain outcome with the intent of winning something else of value .”
Another online resource tells us that it is the act of taking risky action in the hope of a desired result.
Now after reading that how in heaven’s name could anyone with even a half a brain conclude that forex trading is anything BUT gambling? Why do YOU trade forex…to lose or just for fun? Whether we like it or not …FOREX TRADING IS GAMBLING!!!
As a matter of fact even people who participate in the activity of farming are gambling. They are expending money to buy inputs and pay for labour in the HOPE (not certainty… they are taking a chance) that thieves wont steal their crops, drought or floods wont wipe them out, pests dont destroy it and the price will be high when they are ready to reap. This is so simple and basic I have to really wonder how is it that everyone seems to be struggling with it and coming up with all sort of garbage reasoning to justify what is obviously a flawed position. These are the same people who glibly tell us about RISK REWARD RATIO, lol. What does the word risk tell you???
In the same way that people do their homework and have a good idea of where price will end up in the next hour and place a winning trade accordingly, there are people (who are called gamblers) who also do their homework and know that Shelly Ann Fraser Pryce is going to leave the highly overrated Shaccari Richardson in her wake when next they grace the running track and place their wagers accordingly.
Think people think and cut out the mindless follower sheep business.
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Who knows? Numerous trading courses tell that we shouldn’t trade guided by intuition, should be rational, cold-minded and so on. But!..there’s nothing bad in well-developed intuition. It does exist. It would be foolish to deny it. I think that gamblers should have good intuition and it may help in trading.
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I have 11 years of sports gambling and in my experience with sports gambling i can say with trading my strongest aspect is for sure money management. That’s something sports gambling has taught me that i apply in the same way to my trades.
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Why should we have an edge? I’m playing poker and sport bets the only “edge” I see is risk/money management
Absolutely correct!
Gambling and trading is all about possibilities and probabilities respectively.
As a forex trader we would look and review historical price action in the immediate past period before putting on a trade. At a casino, the gambler don’t see the hand of others at the table - so he would make guesses about possibilities before making a decision - and more likely to get it wrong in relative terms!
The trader will try find a right confluence factors that would stack the odds in his favour!
I think it’s not so much about intuition but their psychology - ability or willingness to go on and take losses one after the other in hope for a large win!
Agreed… and when a punter at the race track studies the form of the horses in the race and their exercise gallops over the past few weeks and makes a determination about which horse should win it is the exact same thing. Or is it that you think it is only in casinos that gambling goes on?
I think I now am beginning to appreciate why so many people fail miserably at forex trading.
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Psychology they might since they both involve having some sort of strategy, plus they know the chances of losing, so they might be more prepared to take those losses better than the average trader.
And I’d be willing to bet the farm on that theory.
People who trade, must be somewhere above 0 on the gambling.spectrum or they would nt start
Trading is gambling. However trading have a bigger audience which led to developing best practices and scientific tools to help predict the trend and the game more often. I love my trading game.