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You cannot in Blackjack or trading sometimes follow your rules and expect to make money. You simply cannot take one trade and then pass on the exact same setup the next time. |
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As a previous card counter, I agree with this statement for Blackjack, but I don't think this applies to all trade strategies. I agree totally with this for trend following systems where a handful of trades can make your quarter or year. However, for other setups that occur frequently, I don't think you have to take every setup because each trade taken independently is insignificant. However, I do believe a trader should strive for consistency and a systematic approach in decision-making, and take each trade the same way according to their trade plan.
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we are all gamblers here. |
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Gamblers by definition are playing a game of chance and don't have an edge; therefore, they will lose in the long run. A profitable trader has an edge and should win in the long run, assuming the edge is sustained over time. If a trader does not have an edge, then I agree (s)he is a gambler.