i dont fucking gamble
http://www.xtranormal.com/watch/7107529/local-tra…
I didn't really realize how little people understand markets until I tried to explain what I'm going to be doing next year to my friends and family..
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Haha, good video.
You got to understand that the majority in society lack a proper interpretation/understanding of what finance is all about. To the average Joe, they think that markets = stock market, which is understandable since the bond market is mainly for institutional investors. Unless you're into high finance (i.e. S&T, IBD, HF etc.), chances are you wouldn't know/care anything about German Bunds, French OATS, or Italian BTPs. Take it easy, pal, it doesn't matter as long as you're rolling in the bucks (though it's much harder in today's economic climate, especially with the upcoming regulations on trading practices). In 10 years' time, you'll be driving your Mercedes-Benz S500 around, and I'm sure your friends and family will KNOW how much you make at that point in time :)
You're a fucking gambler through and through.
Incredible.
Seriously, if you dont think trading in and out of positions within seconds, minutes, hours, etc. is gambling you are retarded. Gekko sounds even stupider/more obnoxious than you. Try looking up the definition of gambling and spend a few months on a prop desk before being so quick to disassociate the two.
Nothing wrong with gambling but stop taking yourself so seriously
Next year? So your not even a trader...
Try being a professional online pker player then you can talk about not having understanding from friends, family, media, government, & the world at large as to what you do... Very few people are able to understand that while it is gambling (as is trading), it is not casino-game gambling (ie. roulette, craps; play vs house). Nor can they grasp how most winning players (who are generally young kids in their early 20s) can have an hourly win/earn-rate of $100-1000+.
There's a thread (can't link here for some reason) on twoplustwo called "Why I don't tell people I play pker" and is all about the absurd and ignorant things people (even close friends and family) will say about something they cannot understand. I think most on WSO can understand the generalities of being a professional online player, just as most from a site like 2p2 can understand the generalities of being a trader.
That said, trading is gambling and you have little to complain about. You don't file as a "Professional Gambler", you aren't regarded as a degenerate, and the media/Gov't hasn't destroyed your industry over the past 5 years.
Trading isn't gambling if one has an edge coupled with strict risk-management/drawdown limits.
Sounds like poker to me. I guess it really comes down to "define gambling".
If your strategy has a positive expectancy over the long run it shouldn't be deemed as gambling.
If your strategy has a positive expectancy over the long run it shouldn't be deemed as gambling.
Honestly, you guys probably know shit about what other people do, so why do you expect the same from them.
To be honest I don't really consider poker gambling- it is too dependent on skill. Say you have a basketball team where every team pays $10,000 to enter. There are 10 teams and a $100,000 prize for the winner. I see this as no different than sitting down at a table and playing poker. I don't think this is necessarily how society views it though.
As for your second question, I believe there is an optimal way to make decisions that will be profitable as long as you can find opponents (counterparties) willing and able to cooperate. Ultimately there is a loser on the other end of a profitable trade and I think this is why people can argue it is simply gambling.
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