As I was at the very beginnings of my trading endeavor, I had many of my friends saying something along these lines: “It can’t be done!”; “You are going to lose money.”; “It is gambling and nothing more!”.
Five years later I am getting various questions from the beginners and one of the most frequently featured question in regards to trading is if, eventually, trading is being just another form of gambling. Through this Q&A involvement I’ve also realized that, somehow, from my experience, wives of successful people are the most skeptical about trading.
Gambling is gambling for gamblers only! So, when one steps in casino and when he/she places money on the table or in the machine, that’s when one becomes gamblerer. At the same time, Casino/House is involved in the process and the question I need to ask is: Do you consider Casino/House to be gambler too? I shall say no, because Casino/House has exactly calculated odds and mechanics of winning: Simply, every casino in the world will earn exactly 55% of every coin that one places on table or in the machine. Somewhere and sometimes, casino is going to earn every coin that gamblers or bored tourists donate and sometimes and somewhere casinos are going to pay somebody millions, but on average, over long run, they are going to earn 55 cents out of everything that was used on the tables or machines.
Logical follow-up question is how to become Casino/House?
If one doesn’t know what he/she is doing, then we are talking about gambler in trading or, in deed, in any other field. Let me be free to even more stress my point - in life as such!
Trade with trend.