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There is a difference between risiking your life and throwing it away. I
spent half my adult life in the ocean, risking it to make a living. A
calculated risk. I have been out there many times when others lost their
lives. Some of them were gambling and died stupidly, some were risk takers
who were overwhelmed by circumstances. Big difference, same result.
____ Michael
"Those who would trade opportunity for security will soon have neither."
____ Ben Franklin
----- Original Message -----
From: "Dennis Holverstott" <dennis@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Cc: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, February 07, 2000 14:56
Subject: [RT] Re: FUTR: Head games.
| > 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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