What's the difference between a trader and a gambler ?
Posting my answer after 20 people have answered
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It depends how you define gambling.
If you consider that it means risking money on an uncertain result, then yes it is.
I agree, but I think that money management and risk control seperates the trader from the gambler. Its not all gambling.
Random bets vs knowing what your doing.
Eleni Anna Branou:
I agree, but I think that money management and risk control seperates the trader from the gambler. Its not all gambling.
I agree, but I think that money management and risk control seperates the trader from the gambler. Its not all gambling.
Yes, but if I bet a fiver on a horse, I am controlling my risk as the most that I can lose on that bet is a fiver.
If I have 500 in my pocket, I am only risking 1%. The only slippage with horse racing is if the turf is a bit muddy :)
Nice example !
Keith Watford:
Yes, but if I bet a fiver on a horse, I am controlling my risk as the most that I can lose on that bet is a fiver.
If I have 500 in my pocket, I am only risking 1%. The only slippage with horse racing is if the turf is a bit muddy :)
Experience
