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Trading. Gambling. Speculation. Betting. All the same thing just different words used to disguise the fact that you are wagering money on an uncertain outcome. Doesnt matter how good your 'edge' is you still dont know what is going to happen next.
a business is a gamble, some one is taking a gamble/risk etc to see if they can win. You are sacrificing one thing in hopes of getting more of something else, usually money. Its all a gamble, i'm not saying gambling is bad but at the end of the day its all similar.
what is it like 9 out of 10 new business don 't last the first year.. sounds like a gamble to me. You can have an edge one day and it not work the next.
I think people are to dedicated to there edge, that's why we see people who kill it in trending markets then go broke when we range. Same goes with business if apple kept selling the first iphone they would have gone out of business but they keep changing and developing new products and taking a risk to see if the public will continue to consume them.
-P
"Truth is not what you want it to be; it is what it is, and you must bend to its power or live a lie"-Miyamoto Musashi
Deciding to get out of bed this morning was a "gamble".
I'd say most people associate the act of "gambling" with high risk / guessing. By definition though, I hear what you're saying.
Indeed, isn't everything a gamble (i.e. doesn't everything have an uncertain outcome)?
You get married, you gamble. (Not unlike a trade, with a 50/50 % chance.)
You choose a career, you gamble.
You have kids, you gamble.
You cross a busy street, you gamble.
Precisely what life outcomes have absolute certain outcomes?
I can't think of many.
Oh wait. Death and taxes.
Well, some DO avoid taxes.
You are never in the wrong place... but sometimes you are in the right place looking at things in the wrong way.
penny slots are low risk and still considered a gamble, most people consider high risks as a gamble because most likely they aren't financially educated. Same reason why people think there house is the best gamble/risk/investment they will make. Most will make a few grand and have thousands tied up for years and years that they could have easily made double if they put there money in some index fund.
Everything is a gamble in life, edges are just supposed to help us know when the gamble "might" be in our favor
FYI the educated comment wasn't a dig at you.
-P
"Truth is not what you want it to be; it is what it is, and you must bend to its power or live a lie"-Miyamoto Musashi