Trading vs gambling - part 1

Is Trading Gambling?

  

      i'm not here to decide is trading gambling?, yes or no. im here to present my views on views of those who claim trading as gambling and those who claim its not.

      

     Any business like trading where you are your own boss and  there are basically no rules except the ones you make can be addictive and induce gambling qualities.you can think you are trading against other market participants,but in realty you are trading against yourself .In markets you are the one who determines whether you make or lose money.

   

     My point is that when you put  a human being in this unbounded trading environment, they have nearly unlimited temptation to gamble with their money. so we have to devise a plan to combat this temptation.

     Many traders think they are ‘trading’ when in reality they are behaving exactly like someone with a gambling problem.
Since it’s so easy to fall into a cycle of gambling as a  trader without even really being aware of it,  it’s important that we go over some of the basic traits of both a gambler and a professional trader so that you can determine which best defines you:

Some basic traits of a gambling  trader:

• Has no trading edge or effective trading strategy.
• Doesn’t have or use a trading plan.
• Doesn’t have or use a trading journal.
• Pays little or no attention to risk management.
• Spends most of their time focused on profits and rewards.
• Often feels intense emotional ups and downs while trading.
• Often holds trades in blind hope of unrealistic profit targets.
• Trades far more often than they should.  etc...

Basic traits of a professional trader:  ..........continued in trading vs gambling - part 2