Lyric discussion by simply__me 

Cover art for Taking Chances lyrics by There For Tomorrow

Actually emma, its about NOT taking chances with the way the current situation is. ;p

I'm guessing its about a guy and a girl (or other way round, whatever floats your boat), they could be best friends, whatever, and the guy is advising the girl not to fall for another guy who is a complete tool. The girls friends are all telling her to give it a go, but above all, the guy remains skeptical about it all.