A gambler's heart -1

Trading is not gambling, so a trader is not a gambler !

Most traders that I met never thought they are gambling. They really think they are trading, and trading with skills. However, after studying what they are thinking about a trade, including myself. I have found some very common yet misleading thoughts, usually, a typical gambler's heart !

The most common feature of such gambler's heart is never face the market itself, never treat the market very carefully. They just prejudge the market's movement and development and trade according to their assumptions, even though the market already already show them they are wrong.

They never follow the market's trend ! Instead, they just bet against it because they have prejudged the market and they are following their assumptions, even though the market already showed them clearly that they are wrong.

This is very very dangerous. Even they can win BIG previously, sooner or later, the market will teach them a hard lesson !

For example, some gamblers have hold the short positions from March with a BIG LOSS until now, and hope to gain back in one day later finally. Even if they win finally, this is not GOOD at all, because it is just gambling, not trading. Sooner or later, Mr. market will wipe out those gamblers.

Another example, some gamblers keep shorting the market from March until now, even though every time they have to CUT LOSS again and again. But the cutting loss seems can not change their gambler's mind !

In one sentence, it's a gambling if you are not follow the market !