The differences and similarities between gambling and trading...

The differences and similarities between gambling and trading have been pontificated for years. Everyone who has money in shares should have their risk/reward worked out and stoplosses. You don't have the benefit of stoplosses in most forms of gambling.

My analogy of shares and horses is think of the sharemarket as a long race, where the lights go on at 10am and off at 4pm. When the lights are on, you can transfer money onto another horse, or transfer to the bank.

Every trader does need to be aware that trading can become gambling with the associated problems gamblers face.