Gambling is not trading if you dont know what you are doing then it is gambling but if you dont gues and hope its trading
closed half of long at 2750 out at 2783 - 33 pip profit
Stop on long from 2769 at 2750
stop on long from 2750 at 2750
Cannot lose on this trade tonight 
Jay
closed eur/usd long at 1.2800 compoletely
Nice entry. And thanks for the support and resistance webinar. Looking forward to the next one!
I donât wanna get into a philisophical debate here herman⌠because IMO, itâs a semantical debate.
Your risking an amount of money, to make an amount of money, and whether you are profitable or not in that particular situation is not a 100% known outcome, until you either make a profit or take a loss.
I personally define ANY unknown outcome with a potential for a loss, regardless of whether it is going to be profitable over many such situations, or whether it is not, for me, is not relevent.
Risking of money + unknown outcome on that particular event of risk = gambling.
Call this what you will. I see it as both. Taking a good gamble, or taking a good trade.
I also played poker for a while, and paid my bills for many months that way. Was it gambling? Well, I think so
I played over 200,000 hands of poker during this time, and made a profit every month. So, it definately was not LUCK.
I think of it, and trading, like this, as GOOD, PROFITABLE gambling.
Some people get all ethical about it for some reason or another. I myself have my faith, and I see no problem with viewing this either way.
Plenty of people make financial decisions that they feel are âgood, sound decisionsâ, and lose their asses on them.
Other people make financial decisions, get really lucky, and make a small fortune (think southern california home buyers in 2002-2005, and then if they sold in 2006-2007)
is it a gamble? define gamble i guessâŚlol
It my world, moral or ethical concerns are not relevent here in my business. If one chooses to consider those, itâs a matter of their own personal viewpoints.
For me, I want to make as much as I can. I know the outcome is not certain, but I do this well more often than not, and make a good living for it.
Everythign else, IMO, is just an argument of semantics.
Jay
Also, last long from friday just closed out at 1.2800
proit 76 pips.
As of now, iâm completely flat in all markets.
Jay
Alright everyone, just went back over the last couple days since friday, to get the totals and update everything:
Friday - trading was down approx: 0.75%. Brought my balance down to $1076.22
Over the weekend, since my broker increases spreads, I always move my stops on any order down by the amount spread is increased. I move my stops BACK to their origional position once london opens on the following monday. Just a rule iâve had forever, to prevent gettign stopped out early because of some spread nonsense.
So, the eur/usd long from friday (the very last entry, risking 0.20%) had been moved down, and I was still holding that long until 1.2800 today. I moved the stop down 10 pips to account for the weekend activity, and moved it back to 10 pips when london opened yesterday. Today, I closed it out. (good thing i have this move down rule tooâŚotherwise, I believe I would have been stopped out, given what the spread was when we made a low for this current week.)
Also, monday I made approx 0.33%, which brought the balance up from $1076.22 to $1079.81
Now, today, i made 0.2533% on the entry from last friday in eur/usdâŚand I made another 0.498% on the entries long from
2769 and 2750
[B]So, that brings my NEW balance up to: $1087.88[/B]
Getting closer to 9%. Should be up to about 10% by the end of the week. THen, I will be increasing risk size more.
Over all, a new equity high in this little account, and very solid over all⌠all things considered.
Jay
Jay, if you made regular money with playing poker, itâs not gambling, imho. Because you played it like a business. So, itâs a business and not gambling. What people call it is irrelevant. The soul of what you are doing sitâs in [U]how[/U] you are doing it and not how people call it. A casino drives a business as well by gambling. But the casino is not gambling. It just makes money with driving a business about gambling.
So it is with trading. If somebody recklessly trades itâs gambling. If somebody drives it like a business then itâs a business. Simple as that!
Just my view, tho.
Anyways, nice trades. I bought a little lower. Fiber long at 12676.
Imo gambling can be defined as
- Haphazardly exposing yourself to a situation where youâre at risk without knowing your equity
- You know your equity is below 50 or = to 50 and yet you still decide to partake.
I believe Eremarket knows his edge and calculates his trades pretty thoroughly, and therefore, heâs not gambling. You can tell just by his bet sizing of >1% that he wonât go broke doing this even on a bad run.
Please shut up with this gambling not gambling thing. Otherwise ill start to speak that taking a car, train or plane to travel is actualy gambling, because ur 50/50 risking with ur life. Trading is not gambling if ur know what ur doing. The End. Shut up.
Long order on eur/usd at 1.2670
30 pip stop
45 pip first target - take half off, move stops to BE
75 pip last target - close trade
risking 0.35%
order will remain pending until LO in about 16 hours.
stops now at BE on eur/usd long trade
Jay
Closed half at plus 34 pips
last target 70 pips
stops still at BE
Where have you been all my life, your my super-hero trader
p.s. +14% for week so far, seems to be holding tight for nowâŚfamous last words
Traveling is risking 50/50 with your life?
Weâre talking about monetary games here. You shut up.
LOL - what a nice bunch of ppl, lets wait for ere to have his say
Closed eur/usd at 47 pips profit
woo, keep going eremarket!!!
Man you are killing it.
Once you increase the risk, this account is going to grow like crazy.
Keep it up.
Funny thread. Would attract lot of newbies.