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The more appropriate analogy is that trading stocks is like gambling. And it's not even analogy. Unless you really know what you're doing, trading stocks is gam
by pakitan 8y ago
The more appropriate analogy is that trading stocks is like gambling. And it's not even analogy. Unless you really know what you're doing, trading stocks is gambling, just with less house edge.
- m3kw9 8y agoNot less but unknown
- pakitan 8y agoThe house is your broker and their commissions plus the spread - the edge. So, the edge is very well known.
- deleted 8y ago[deleted]
- walshemj 8y agoI think what your talking about is speculating vs investing - the term Benjamin Garnham uses.
- unforeseen9991 8y agoExactly. Few people get the difference. Speculative trading is not investing. Professional trading, esp with leverage, is extraordinarily difficult to gain the required mentality, discipline, knowledge, and skills be consistently profitable. The common saying is that 90% fail, I believe it's higher, perhaps much higher. Learning trading was the most difficult thing I've done in my life. It's hard in a way most people don't grasp.
- pakitan 8y agoYes, I'm talking about speculating though the difference is basically just in the holding duration of your stocks. If you're trading every day, that's speculation. If you buy and hold for 10 years, that's investing.