Cory Mitchell 2016年8月5日
赌博的定义是在事物的偶然性上打赌。然而，在考虑到交易时，赌博的就包含了比原本定义更加复杂的因素。许多交易员都是在自己不知情的情况下进行赌博，以一种方式交易或者因为某些原因进行与成功完全相反方向的投资。
在本文中，我们将讨论隐藏在交易实践中的赌博行为，以及驱动人们进行交易（或许是赌博）的首要因素。
隐藏的赌博倾向
即使事实出现时，那些不相信自己有赌博倾向的人将很难承认他们的交易实际上受到赌博冲动的影响。发现是什么原因让我们进行某些行为可以改变我们的内心那些已经被发现的潜意识行为。
在深入研究实际交易的赌博倾向之前，许多人在交易中都会出现一个趋势。这个驱动因素在交易者获得经验和成为资深市场参与者后还将对他们产生影响。
社交证明
一些人甚至对交易和在金融市场投资没有兴趣，但是社会压力会诱使他们进行交易或者以其他方式投资。这在大多数人都在市场进行投资时尤为常见（通常是在牛市的末期）。人们会感到适应社交压力。因为如果他们不进行投资，可能会感到被漠视和冷落。
如果人们了解他们实际上在做什么，购买一些股票或者进行一些交易来缓解社交压力本身并不是赌博。但是如果没有坚实的投资理解就进行交易那就是赌博。这样的人缺乏足够的知识来控制他们交易选择的盈利能力。
市场充满变化、错误信息和虚假信息，很容易使交易员进行赌博投资。如果不能有足够的知识避免这些出现损失的可能性，赌博将会发生在每笔交易中。
起作用的赌博因素
一旦人们参与到金融市场中，他们就会有一个学习曲线，这个曲线以基于看起来像是赌博社交论为基础。这个因人而异。人们进入市场的方式决定他们是一个成功的交易者或者成为金融市场的永恒赌徒。下面两个特征很容被忽视，但是却能引起交易者的赌博倾向。
因为兴奋进行赌博交易
即使是亏损交易也能激起人们的满意情绪，尤其是与社交证明相关的时候。如果一个人的社交圈有人在市场中亏损，在交易中亏损将会使他在与朋友交谈时能有可以讲述的话题。
当一个人因为兴奋或者为了进行社交证明交易时，那么他很可能在以赌博的方式进行交易，而不是依照系统的经过测验的方式。交易是件兴奋的事，它将全球网络带中有不同观点、背景和信仰的交易者聚集在一起。然而一旦兴奋、情绪高涨或者低落时进行交易，很有可能影响交易的系统性和有条理性。
为了赢得交易，而不是系统的交易
以有条例和系统的方式交易在任何情况下都非常重要。为了赢得交易看起来是进行交易的最主要原因。毕竟，如果不能赢得交易你为什么还交易呢？但是在个观点中还有一个隐藏的不利因素。
尽管赚钱是所有人想要的结果，但是赢得交易实际上可能使我们离赚钱越来越远。如果取胜是我们的主要动力，那么可能会出现下面的情形：
Jill在感觉到一只股票与市场其他股票相比是超卖时买入了该股票，该股票继续下跌，使她处于不利的位置。她没有意识到这只股票除了超卖之外还受到其他因素的影响，继续持有仓位，希望该股票能够反弹以便能赢得交易。对赢得交易的过分关注使交易者未能从不利的位置退出，因为这样做意味着他们承认本次交易的失败。
好的交易者能接受很多失败，他们承认错误并将损失控制在最小。不是必须赢得每笔交易和接受失败使他们能在多次交易后获利。在环境变化后还继续持有亏损仓位意味着交易者正在赌博而且不再坚持良好的交易方法。
总结
赌博倾向远远超过大多数人的初始认知和标准的定义。赌博可以发生在需要在社交中证明自己或者需要社交认可时，这导致人们在不了解的领域进行行动。
在市场中赌博通常发生在那些在市场中获得兴奋情绪的人身上。最终，他们不以有条理和系统的方式交易，而是依赖情绪或者必须要赢的态度创造利润，这表明他们正在市场中赌博，而且不可能在多次交易过后还能获利。
Are You Investing or Gambling?
By Cory Mitchell | Updated August 5, 2016 — 11:20 AM EDT
Gambling is defined as staking something on a contingency. However, when trading is considered, gambling takes on a much more complex dynamic than the definition presents. Many traders are gambling without even knowing it - trading in a way or for a reason that is completely dichotomous with success in the markets.
In this article we will look at the hidden ways in which gambling creeps into trading practices, as well as the stimulus that may drive an individual to trade (and possibly gamble) in the first place.
Hidden Gambling Tendencies
It is quite likely that anyone who believes they don't have gambling tendencies will not happily admit to having them if it turns out they are in fact acting on gambling impulses. Yet discovering what drives us to take certain actions can create change within us as the underlying motivators are discovered by the conscious mind.
Before delving into gambling tendencies when actually trading, one tendency is apparent in many people before trading even takes place. This same motivator continues to impact traders as they gain experience and become regular market participants.
Social Proofing
Some people may not even have an interest in trading or investing within the financial markets, but social pressures induce them to trade or invest anyway. This is especially common when large numbers of people are talking about investing in the markets (often during the final phase of a bull market). People feel pressured to conform by their social circle. Thus they invest so as not to disrespect or disregard others' beliefs or feel left out.
Buying some stocks or placing some trades to appease social forces is not gambling in and of itself if people actually know what they are doing. But entering into a financial transaction without a solid investment understanding is gambling. Such people lack the knowledge to exert control over the profitability of their choices.
There are many variables in the market, and misinformation or disinformation within investors or traders creates a gambling scenario. Until knowledge has been developed that allows people to overcome the odds of losing, gambling is taking place with each transaction that occurs.
Contributing Gambling Factors
Once someone is involved in the financial markets, there is a learning curve, which based on the social proofing discussion above may seem like it is gambling. This may or may not be true based on the individual. How the person approaches the market will determine whether she/he becomes a successful trader or remains a perpetual gambler in the financial markets. The following two traits (among many) are easily overlooked but contribute to gambling tendencies in traders.
Gambling (Trading) for Excitement
Even a losing trade can stir emotions and a sense of power or satisfaction, especially when related to social proofing. If everyone in a person's social circle is losing money in the markets, losing money on a trade will allow that person to enter the conversation with her/his own story.
When a person trades for excitement or social proofing reasons, it is likely that she/he is trading in a gambling style, rather than in a methodical and tested way. Trading the markets is exciting; it links the person into a global network of traders and investors with different ideas, backgrounds and beliefs. Yet getting caught up in the "idea" of trading, the excitement, or emotional highs and lows is likely to detract from acting in a systematic and methodical way.
Trading to Win, and Not Trading a System
Trading in a methodical and systematic way is important in any odds-based scenario. Trading to win seems like the most obvious reason to trade. After all, why trade if you can't win? But there is a hidden detrimental flaw when it comes to this belief and trading.
While making money is the desired overall result, trading to win can actually drive us further away from making money. If winning is our prime motivator, the following scenario is likely to play out:
Jill buys a stock as she feels it is oversold compared to the rest of the market. The stock continues to fall, placing her in a negative position. Instead of realizing that the stock is not simply oversold and that something else must be going on, she continues to hold the position, hoping it will come back so she can win (or even break even) on the trade. The focus on winning has forced the trader into the position where she doesn't get out of bad positions, because to do so would be to admit she lost on that trade.
Good traders take many losses; they admit they are wrong and keep the damage small. Not having to win on every trade and taking losses when conditions indicate they should is what allows them to be profitable over many trades. Holding losing positions after original entry conditions have changed or turned negative for the trade means the trader is now gambling and no longer using sound trading methods (if she/he ever was).
The Bottom Line
Gambling tendencies run far deeper than most people initially perceive and well beyond the standard definitions. Gambling can take the form of needing to socially prove one's self, or acting in a way to be socially accepted, which results in taking action in a field one knows little about.
Gambling in the markets is often evident in people who do it mostly for the emotional high they receive from the excitement and action of the markets. Finally, not trading in a methodical and tested system, but rather relying on emotion or a must-win attitude to create profits, indicates the person is gambling in the markets and unlikely to succeed over the course of many trades.
本文翻译由兄弟财经提供
文章来源：http://www.investopedia.com/articles/basics/10/investing-or-gambling.asp