I was not saying that traders ARE gamblers...i was just comparing the two.
Sorry to sound naive again, but aren't day traders close cousins of gamblers?
Sorry professional gamblers...I mean, they lose so much so fast and yet they come back with double vengeance to hit the market on the very next day? They cant take their eyes off the screen, as if they cant be stopped ( ADDICTED) What would you call those people?
I understand that the rules of the games ( which you have said so many times in this forum and also in reply to my question ) SHOULD NOT change..but they do for day traders... i have yet to meet a calm day traders who was not "betting" ..."yeh stock to upar hi jaayega...dekh lena ..." kind of person.
I have read somewhere that statistically speaking, day traders are the most loosing breed of investors. So that means, house, ( market) has an edge with them...
hello...st has above given u sound reasoning....
first of all.....pls define 'addiction' ????
ok let me do it :
"The term "addiction" is used in many contexts to describe an obsession, compulsion, or excessive psychological dependence, such as: drug addiction (e.g. alcoholism), video game addiction, crime, money, work addiction, compulsive overeating, problem gambling, computer addiction, nicotine addiction, etc." ..... (source)
we have seen ppl working 16-18 hrs a day ......technically they are called workaholics...this is 'addiction' as per psychologist....
All business /profession has got pressure to achieve target & goal....and ppl work hard to achieve it ...but still is success gauranted even after so much hard effort..?.some get success many fail ....why ? there could be many reasons for it....improper method/resource, bias thinking ..etc etc........the same is the case with trading....many fail cuz they come in with wrong attitude to get rich quick...the truth is it requires lot of chart screening.....lot of effort...so is it addiction ? ...
secondly the life itself is gambling....the next moment we will survive is not gauranted...trading is a tough profession ...the odds are high but odds to become a bollywood star or get selected in indian cricket team has thousand times greater odds than becoming a successful trader or gambler.....still millions of aspiring lads spent hrs and hrs striving to become an actor or cricketor..just handful of many many thousand get to top....its the passion that strives a person to achieve though wtever could be the end result...
third....gambling (cards,poker..etc etc) is bad as far as it is played without rules/strategy and positive psychology...........but this applies to all feilds of profession.....professional gamblers play by their own strategy...its a successful profession for many.....like any other profession they survive and earn their living by gambling....it requires extreme skills to achieve that level...many of them dont poses it and so r doomed to get failed....
gambling /trading are as passionate profession as any other...
neways enough said..i hope i m able to convince you.....:thumb: