This entry has now been placed in a series we are doing regarding the fact that Trading? IS Gambling. And thus this post continues from the previous post in that series …
We have been writing … at length … that to progress, new and aspiring traders must view themselves as professional gamblers. Not as some sort of degen, down on his luck stealing from a family member to support a habit. But as a professional gambler who knows his bankroll, thinks about his or her chip management, and knows the iterative average payout of their trades.
Some may raise the objection (and it is one that I have heard) …
“But listen, I’m a Christian, and I don’t gamble …”
A faith based objection to gambling.
Ok. I get it. I understand.
Listen, I do not wish to use GTC Traders to “preach” a faith, or espouse a belief system. That’s not my point. But you need to stop conflating a belief system regarding the objection to Casinos, or views on alcohol and licentiousness, to the proper view of trading as gambling. Those two things, are completely different. I’m a Christian as well. And as a rule, I don’t visit gambling establishments due to the associated atmosphere. And I used to confuse the two concepts. But I’m telling you; that’s all it was. Confusion. All of the associated atmosphere of Casinos has nothing to do with the fact that I view my career as a trader? As being a professional gambler.
What we are saying, is that the mathematics, behavior and psychology of a professional gambler are not only exactly identical to trading? But extends to making and managing good decisions in life itself. It’s not about ‘degenerate’ behavior. It’s about understanding iterations, time and how to manage risk and reward.
This is not merely my solitary opinion.
Various comments from religious organizations and teachers:
“Trading in shares on the stock market is absolutely fine from an Islamic viewpoint … It is worth mentioning that participation in the capital markets will not only improve the economic status of Muslims but it will also give them an opportunity to become a part of the development of the economy for the country.”
“Allah has permitted trade and forbidden usury – Aya. 2:275”
Or … another faith …
“A measure of risk is involved in nearly all financial investments. Some people buy real estate, not knowing if the value of a property will increase or decrease over time. Others deposit their money in a bank, trusting that their savings will be secure …”
“Straightway he that received the five talents went and traded with them, and made other five talents … His lord said unto him, well done, good and faithful servant” – Matthew 25:21
Again, my point is not to preach. If you want to object to viewing trading as gambling due to some religious predilection? It’s not our job to ‘convert’ anyone.
My point, is that my opinion is not a solitary one. The mathematics, psychology and iterative approach of gambling is identical to good trading; and in addition to myself, many religious organizations, faiths and teachers understand and even condone this.
We will continue this entire discussion in the next entry, to demonstrate that at the highest Academic levels, trading is viewed as Gambling …