True Heights… It’s a very difficult task.
But there is a difference between “mere gambling” and “professional gambling”. As if there is a difference between “just trading and professional trading”. Whether it’s a professional player or a trader, both have to put in a lot of hard work, patience and dedication… Like
If you make such efforts to become an IPS official, there is some certainty that you will do the exams. But tell me is there any guarantee that you will study seriously about the markets and become a very successful trader…? (I’m not thinking about other aspects like technical analyst, portfolio manager or other areas. Just a day trading here…)
What is gambling…? To me, it feels like you are betting/risking something on a future event whose outcome is unknown/uncertain.
You are betting on horseback riding, and the outcome is unknown.
You are betting on a cricket match, and the outcome is unknown.
You are betting to flip the coin, and the outcome is unknown.
You place an order in the trade, are you sure of the outcome…?
Trading in itself is a game of odds. We bet on opportunities. If it works then we book the profit otherwise we are forced to record the losses. Even when I study hard, I can’t make the market move in my favour because market moves are uncertain…right…?
So it’s like betting (or trading) uncertain market movements. But here is a twist. I study the instrument, risk management, money management, and some technical analysis in order to create a trading plan with a positive expectancy and make the odds in my favor over the long term.
I don’t think we should hate the word gambling. Not just trading, but there is gambling everywhere. My biggest bet is getting married. Do we know the person we should spend the rest of our lives with…? It’s a gamble. If it works, then we see a beautiful couple together, if not only the divorced person asks. He would say I bet my life, time, and money on this marriage and lost everything.
Even if I am a skilled bike rider, I only have control of my own bike and not others’ bike. What if I go riding and some rider hits me hard…? It’s as if I staked my life riding on roads full of unknown people…
Instead of avoiding that gambling word, I want to ride with it…