And the difference between Gambling and Trading is...

[EyePeaSea]

Just saw a Betfair bingo advert on TV, now there is a true gambling medium.

It's difficult enough explaining to people that I have a hobby which involves trading (or intelligent gambling based on data mining and analysis). Now when I try to explain they'll just think I play Bingo with a bunch of Grannys.

[Zenyatta]

In NZ you can gamble on-line with national lottery games at Mylotto.

I like the daily 'Bullseye' game... you have to pick a number between 0-999999, and the closer you get, the more you win. Needless to say, I have never picked the correct number yet, after a year of playing.

[Iron]

And it's working for the manipulators...they've fleeced me (and I'm sure many others) out of thousands.

Maybe you should work out their game so that you profit from their tricks.

Trading is often very time-consuming and stressful in my experience, and not as much fun as gambling. At least with gambling you can set-it-and-forget it (it doesn't take much time or energy) and you will get a quick decisive result.

“Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.”

Ed Seykota

[Zenyatta]

Maybe you should work out their game so that you profit from their tricks.

I have worked out their game. They are smarter than you or I. They will just adjust their tactics to continue to fleece us. Again, look at the Aussie races for comparison with the UK races. You just don't see that kind of nonsense on the Aussie races, this is the proof of the pudding that the low-grade UK races are heavily manipulated.

“Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.”

Ed Seykota

This resonate with you does it?

[Naffman]

Why do you not do Aussie races then Zenyatta? I have tried UK and there is no doubt IMO Aussie races are far easier which maybe due to less liquidity which suits my style. You just have to find which market works best for you.

[Euler]

Zenyatta, you can't afford to think like that though. There is always a way forward.

Life is competitive by nature. Some amino acid billions of years ago mutated. By design or accident it didn't matter, it was better than what went before and so it thrived while what preceded it and failed to evolve just died off. Further on something modified it's behaviour and nipped in front of that single cell organism and a bit later than resulted in you or us. OK you may get the odd chicxulub along the way, but even then that presents a new opportunity.

So I've always spent my time looking for opportunities not problems, there are plenty of problems to find, but I dont' want to look for them. If you can see activity then it's quite possible you can exploit it. That's why I try and stay off the radar as much as possible, I don't want people to see my activity in the market. But ultimately that limits what I can do in the market.

[Euler]

Re : Gambling vs Trading, there is a clear delineation

Trading is mitigating or buying and selling risk. So insurance isn't gambling there is a risk to hedge.

Gambling is manufactured risk.

A hurricane rushing in from the atlantic to destroy half of florida has a risk that can be mitigated through insurance.

Betting on red or black in the hoping of winning a one sided opportunity isn't mitigating anything, but it may be fun. But it's manufactured risk.

[Iron]

I have worked out their game. They are smarter than you or I. They will just adjust their tactics to continue to fleece us.

Sorry, but that is defeatist nonsense.

The big boys don't even know you and I exist...

Jeff

[marko236]

If i can work out what the big boys are doing, i just try and join them and make a profit that way.

If i can't work out what they are doing i just don't trade.

[Iron]

Exactly!

Writing 'They are smarter than you or I' is incredibly negative. What these guys do isn't an ultra-advanced version of rocket science that only people with IQs of over 190 can even begin to comprehend...

Jeff

If i can work out what the big boys are doing, i just try and join them and make a profit that way.

If i can't work out what they are doing i just don't trade.

[PeterLe]

I agree that trading and gambling are different but most of my in-play automation strategies involving backing some horses based purely on numbers without closing the trade as I found laying to be unprofitable.

Does this mean I am gambling or trading?

I picked up on this posting by Liam..I've previously tried placing single bets in the market but found it marginal in terms of profits (you can go for long periods without a green screen), thats not gambling if you have an edge.

[marko236]

As Euler says, i try and hide what i do.

If someone is trading to scare people and make them lose money and they keep doing it with the same tactics it will be spotted.

The good traders will work a way round them and maybe turn the table on them and they will lose.

[steven1976]

Exactly!

Writing 'They are smarter than you or I' is incredibly negative. What these guys do isn't an ultra-advanced version of rocket science that only people with IQs of over 190 can even begin to comprehend...

Jeff

If i can work out what the big boys are doing, i just try and join them and make a profit that way.

If i can't work out what they are doing i just don't trade.

That's true to a certain extent but
You can't join them if they have very big banks. I think even some members of this forum claim to have at least 250k in at least one of their accounts in articles on the Webb. Its difficult to join that for most want to be traders!

[steven1976]

Haha that was an honest typo then. Web not Webb!

[Euler]

I could raise millions to trade with if I wanted, but I don't because large amounts are a burden not a benefit. The more money you use the more you become the market, so it's easier to use smaller stakes. I'm sure this was discussed elsewhere on the forum?