Maybe you are right there but my experience has told me that you need an edge and that edge needs to be a better than a 50/50 chance. I will admit that a trader that has absolutely no emotion and has a foolproof planwill be able to make a profit with a 50/50 chance. That is not the position with most ASF members and I think it is necessary for someone to post a point of view that is contrary to the facts often presented here. If new traders are led into believing that it is as easy as some suggest then they will be in for a shock and maybe a disaster. The same disaster that many margin borrowers recently experienced. Another aspect of trading promoted by a lot of forum posters that I disagree with.
As for race horses; I had an uncle that made a fortune as a bookmaker and owner. He had a son, my cousin who tried to follow in his footsteps, lost the lot and more. Our family had a lot to do with horses. My grandfather owned and operated Cobb & Co change stations and was renouned for the quality of his horses, he also bred trotters and thoroughbreds. I've bred a few myself and until recently had 12 brood mares.They were more a hobby and an interest than an investment. Horses are great but they have let a lot of people down. I guess that is how you can compare horses to the stock market.