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| Trading Psychology How do we learn to conquer our fear and greed? Discuss the mental aspects of the game. |
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11-05-2007, 11:13 AM
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Re: Are You a Gambler?
Okay, we are circling the block on this one. Regarding success/failure rate I strongly urge everyone to study Vilfredo Pareto. His work is frequently referred to as a 'principle'. Franky, I believe what he posits is closer to a law of nature.
The fundamental difference between most gambling (ie: casino house games) and trading is that failure is a mathematical certainty in a casino (given a large enough sample period). Whereas, with tremendous study and effort one can attain an edge in trading that put the odds of success in your favor. 
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LinkBack to this Thread: http://www.traderslaboratory.com/forums/f37/are-you-a-gambler-2714.html
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