Trading versus gambling, or gambling versus trading, some very enlightening quotes and remarks to explain the real essence of the matter.
Man is a gaming animal. He must always be trying to get the better in something or other.
Charles Lamb
The market is a no-called-strike game. You don’t have to swing at everything – you can wait for your pitch. The problem when you’re a money manager is that your fans keep yelling, “Swing, you bum!
Warren Buffet
To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.
Jesse Livermore
There are just four kinds of bets. There are good bets, bad bets, bets that you win, and bets that you lose. Winning a bad bet can be the most dangerous outcome of all, because a success of that kind can encourage you to take more bad bets in the future, when the odds will be running against you. You can also lose a good bet, no matter how sound the underlying proposition, but if you keep placing good bets, over time, the law of averages will be working for you.
Larry Hite
Life is nothing but a bet that in the end everyone is doomed to lose. So you’d better get used!
Carl William Brown
If you must play, decide upon three things at the start: the rules of the game, the stakes, and the quitting time.
Chinese Proverb
Trading is more or less like betting or gambling, but only without the pleasure show of the game.
Carl William Brown
Take the probability of loss times the amount of possible loss from the probability of gain times the amount of possible gain. That is what we’re trying to do. It’s imperfect, but that’s what it’s all about.
Warren Buffett
Life is a gambling challenge, so you’d better learn to bet or at least to trade!
Carl William Brown
Seize any opportunity, or anything that looks like opportunity. They are rare, much rarer than you think. Remember that positive Black Swans have a necessary first step: you need to be exposed to them. Many people do not realize that they are getting a lucky break in life when they get it… Collect as many free nonlottery tickets (those with open-ended payoffs) as you can, and, once they start paying off, do not discard them. Work hard, not in grunt work, but in chasing such opportunities and maximizing exposure to them. This makes living in big cities invaluable because you increase the odds of serendipitous encounters – you gain exposure to the envelope of serendipity.
Nassim Taleb
Life is a gamble, therefore you can’t ignore trading knowledge!
Carl William Brown
I want people to understand, gambling is not a bad thing if you do it within the framework of what it’s meant to be, which is fun and entertaining.
Michael Jordan
Life is a gambling travel and the trader’s desires are fucking dreams.
Carl William Brown
Anybody who plays the stock market not as an insider is like a man buying cows in the moonlight.
Daniel Drew
Gambling with cards or dice or stock is all one thing. It’s getting money without giving an equivalent for it.
Henry Ward Beecher
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