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> Webster's defines gambling as "to take a risk in order to gain some
> advantange".
Well, that's a good one-liner but it over-simplifies a complex subject
covered in many long books. IMHO, the difference between a gambler and a
trader is one of motivation.
Gamblers are in it for the action. They can't stand not being in the
game. They *think* they are doing it to make money but that's not the
real reason. They will keep playing even when they are losing big.
Traders are in it for the money. They don't have any compulsion to have
a trade on if they don't see a clear profit opportunity. They are
happier sitting on the sidelines if they are unsure of the market.
Big difference. Some traders have gambler personalities but not all
traders are gamblers.
> Every time you go to the store, you are gambling that you will make it back
> alive.
Again, it's motivation. If your purpose is to get to the store and you
accept, but don't necessarily like, the calculated risk of dying, you
are not a gambler. If you enjoy running across the freeway so you can
get an adrenaline rush and, while you are at it, you stop by the store,
you are gambling with your life.
--
Dennis
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