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Trading is NOT gambling. There's my vote.
Bob
-----Original Message-----
From: Paul Weston <paulweston@xxxxxxxxxxxxxx>
To: realtraders@xxxxxxxxxxxxxxx <realtraders@xxxxxxxxxxxxxxx>
Cc: 'REAL TRADERS' <realtraders@xxxxxxxxxxxxxxx>; Richard Chehovin (E-mail)
<rchehovin@xxxxxxxxxxxxxxx>
Date: Monday, February 07, 2000 12:20 PM
Subject: [RT] RE: RE: Re: FUTR: Head games.
>Life is a gamble and if you don't believe so, you are in for a rude
>awakening.
>
>Every time you go to the store, you are gambling that you will make it back
>alive.
>
>The only thing we can do in life is to try to stack the odds in our favor.
>That's what professional gamblers do. The more successful ones are better
>at it.
>
>Webster's defines gambling as "to take a risk in order to gain some
>advantange".
>
>If somehow you have managed to eliminate all risk in trading, that is
great.
>Otherwise, your are gambling.
>
>Let's have a poll. Who on this list is not a gambler (i.e. a risk taker)?
>
>Regards,
>Paul
>
>-----Original Message-----
>From: ist@xxxxxx [mailto:ist@xxxxxx]
>Sent: Monday, February 07, 2000 11:56 AM
>To: paulweston@xxxxxxxxxxxxxx
>Subject: Re: [RT] RE: Re: FUTR: Head games.
>
>
>I feel sorry for you if you are gambling. Trading is a business and if
>treated
>as such can be very profitable. If you are gambling or feel that you are,
>then
>like most gamblers, you will end up a loser. Being profitable in the
>interim,
>doesn't mean that the ultimate fate will not befall you. the professional
>"gambler" doesn't feel that he is gambling. It is his business and he
>treats
>it as such. He knows the odds, probabilities and the other facts of the
>game he
>is playing. The professional in any endeavor doesn't believe that he is
>gambling. From what I have heard the biggest gambles are the restaurant or
>contracting businesses. Good luck and put a buck on the beans for me. Ira.
>
>Paul Weston wrote:
>
>> I went thru some of this myself and basically I focus on 2 things:
>>
>> 1) I perform a service. If it were not for speculators such as myself,
>the
>> markets would lose liquidity and would not work nearly as well.
>>
>> 2) Nobody comes into this game without the knowledge they are a gambler,
>and
>> part of gambling is to risk losing money. In fact, my job is to take
your
>> money. Plan and simple.
>>
>> If you don't feel good about the realities of trading, I would suggest
>> looking at another profession. There are plenty to choose from.
>>
>> Regards,
>> Paul
>>
>> -----Original Message-----
>> From: listmanager@xxxxxxxxxxxxxxx [mailto:listmanager@xxxxxxxxxxxxxxx]
>On
>> Behalf Of comdytrd
>> Sent: Sunday, February 06, 2000 6:55 PM
>> To: realtraders@xxxxxxxxxxxxxxx
>> Subject: [RT] Re: FUTR: Head games.
>>
>> Howdy,
>>
>> I've been working on my head lately... Trying to figure out why I even
>care
>> whose money I take on those successful occasions. (They never seem to
>feel
>> guilty when they take mine do they?) So why do I feel hesitance and
guilt
>> and how shall I overcome same? Keep it simple please.
>>
>> Also I seem to trade best after a loss that makes me mad. If not, I'm
>much
>> less focused and slower to act.. It's when I must recover a loss that
I'm
>> at my best...Is there a technique short of drugs to achieve the focus/
>> intensity that being mad seems to produce?
>>
>> I have begun to counter my perfectionism by remembering to "take the meat
>> out" of a trade and leave the crumbs to others... this seems to prevent
>> those frequent gut wrenching/market reversal events.
>>
>> Much obliged for any input.
>>
>> Michael
>
>
>
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