Trading vs gambling - part 2

  
Some basic traits of a professional trader:

• Mastered an effective trading strategy.
• Has a  trading plan and uses it.
• Has a  trading journal and uses it.
• Focuses on risk management and on controlling risk on every trade.
• Not overly-focused on profits and rewards.
• Trades only when their trading edge is present.
• Does not become emotional over a win or a loss.
• Treats their trading like a business. etc...

  

    if ur committing money on truly random outcome, then its a gamble, example buying lottery ticket.
if one can influence the outcome with his own skill or can reduce the adverse effect controlling his own action is not a gamble, its a skill. 
 
  Finally it all depends on the mindset. what i do in market may be totally insane for some others.

  Gamble is a risky action in the hope of a desired result. world is progressing because a few dare to dream and gamble.
Every product is a gamble
Every bussiness is a gamble
Every research is a gamble
Every idea is a gamble.
Every crop grown by a farmer is a gamble(dont know the future price )
Every human life is a gamble(dont know what happens the next minute)
 
Gambling is not a dirty word. proud to be a gambler

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