Results 21 to 30 of 34
01-06-2014, 07:27 AM #21
Even the best traders don't "always" win. Assuming winning is reaching the desired result.
01-06-2014, 09:07 AM #22
Winning for me doesn't mean winning every bet or every trade its defined as positive ROI at the end of the year, month, whatever you want it to be. Its ridiculous to think you can win every trade and every bet but as long as you are winning a decent amount of more trades and bets than you are losing you're golden.
01-06-2014, 02:53 PM #23
"Winning" is relative. Turning a profit on every transaction isn't going to happen--that's definitely winning, but impossible. To me, winning is diversifying myself enough to where I profit to a certain mark, whether that mark be hit during a certain time frame, etc. In itself, that also defines trading well. IMO.
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01-06-2014, 07:16 PM #24
01-06-2014, 07:38 PM #25
01-06-2014, 08:52 PM #26
01-06-2014, 09:25 PM #27
01-07-2014, 12:36 AM #28Member
- Join Date
- Jun 2011
Gambling in a casino is designed for you to lose other than playing poker against other players they are all designed for you to lose.
01-07-2014, 01:01 AM #29Senior Member
- Join Date
- Sep 2011
- Sydney, Australia
The only type of gambling I'd compare with trading would be poker. As a regular trader and a casual poker player you experience several similarities with the decision making process, risk/reward scenarios and psychological aspects. It's no coincidence that you see countless hedge fund guys playing high stakes poker.
The biggest difference between all forms of gambling and trading is that when you place a bet of $1,000 you either lose the $1,000 or win your bet, with trading you can invest $1,000 and pull $900 off the table if circumstances change. That's a pretty significant advantage.
Also, if you look at sports betting, the best of handicappers will pick at only 59% against the spread. Bookies have the ability and legal right to close your accounts and ban you if you're winning too much money and they don't have to give you an explanation (happens a lot here in Australia, and bookies collaborate and share clients so if you get shut down by one, chances are the rest will close you out as well). In the markets you can trade with a 100% success rate and nobody can stop you.
One of my favorite sports betting success stories is Bob Voulgaris, and if you follow his twitter you'll see that he rarely finds a bookie in Vegas that'll take a bet of more than $10k. The more successful you are, the more difficult it becomes and he doesn't recommend handicapping as a career to anyone.
I'm going to assume nobody is making the comparison to casino games here, if so that's a little ridiculous considering the mathematical edge.
Last edited by A.D; 01-07-2014 at 01:06 AM.
01-08-2014, 06:05 PM #30