Topic: A few key points distinguishing traders from gamblers (Read 949 times)
In my little experience, I've seen traders who were serious about trading and still exhibited some of the gambling attributes listed here (especially at their early stage of learning and practicing), some couldn't deal with their emotions, and that's why I've come to realise that traders shouldn't only learn trading strategies but should also learn trading ethics and psychology.
I dont believe for having low rewards because it would really be depending on some factors or how much you had put up on a particular position whether it is big or small then it would really vary on that
plus on the factor of those price increase or gains on percentage form then it would really be on that way.Risk is there but unlike gambling which it is more higher and not really sustainable for long term
thats why its not ideal nor a good move on considering on having a gambler like mind when you are dealing with trading because thats not how it works.
A small capital can grow big for an advanced or pro trader but no matter how big the capital is but the trader is inexperienced or a newbie, it will mostly end up losing. There are long term trades aside from short term but in gambling I think that is right that it's not sustainable in the long run because from my long time experience in gambling, I always lose if I stay playing for a longer time, that is why I always try to secure or withdraw my winnings if ever I have already won a decent amount.plus on the factor of those price increase or gains on percentage form then it would really be on that way.Risk is there but unlike gambling which it is more higher and not really sustainable for long term
thats why its not ideal nor a good move on considering on having a gambler like mind when you are dealing with trading because thats not how it works.
It's okay to have a gambler mind because it can make you hungry for success but you should equipped yourself first with knowledge.
When one is into trading his mind needs to focus on long term profiting than quick earning. Trader with the gambling mentality can't make profit out of trades. It is well said, a gambler easily gets emotional after loss, which doesn't suits with trading. The traders try to make something out of the market moves, whereas gamblers look for luck than following strategies.
I find both form of traders to be successful, but the percentage differs. The success rate of a trader against a gamble mentality trader will be like 85:15
Traders are more on long term profiting so they should need more knowledge and skills to sustain their trades and end up being successful. This is why they have to focus more on analyzing the market patterns because that will be their bases when to trade as long as they see the market is stable. However, gamblers always aim for quick profits and so they tend to lose their capital too quickly compared to traders. They may have prior knowledge and skills in gambling but they mostly depend on luck whenever they start betting. I find both form of traders to be successful, but the percentage differs. The success rate of a trader against a gamble mentality trader will be like 85:15
It's true that in trading we must have knowledge, because trading without knowledge can be gambling, because we will only rely on luck.
Therefore, if we want to become successful traders, we must improve our knowledge and skills in reading the market. A trader always has
a plan before making a trade, so the trader already knows what to do when the unexpected happens. While gamblers usually just play without
any planning, let our luck decide. Then you are absolutely right that a trader does not need to make profits in a hurry, a trader must be more
patient to get profits. Therefore sometimes a trader can wait in the long term in order to make a profit, while gamblers usually want instant profit.
Because there is a concept like this in the trading world if the market goes down and we haven't sold it, it means we haven't made a loss,
so patience is important in trading.
When one is into trading his mind needs to focus on long term profiting than quick earning. Trader with the gambling mentality can't make profit out of trades. It is well said, a gambler easily gets emotional after loss, which doesn't suits with trading. The traders try to make something out of the market moves, whereas gamblers look for luck than following strategies.
I find both form of traders to be successful, but the percentage differs. The success rate of a trader against a gamble mentality trader will be like 85:15
Traders are more on long term profiting so they should need more knowledge and skills to sustain their trades and end up being successful. This is why they have to focus more on analyzing the market patterns because that will be their bases when to trade as long as they see the market is stable. However, gamblers always aim for quick profits and so they tend to lose their capital too quickly compared to traders. They may have prior knowledge and skills in gambling but they mostly depend on luck whenever they start betting. I find both form of traders to be successful, but the percentage differs. The success rate of a trader against a gamble mentality trader will be like 85:15
That is why traders should be skillful always in the market movement, through fundamental and technical analysis you can draw a conclusion of making such a prediction, though there is no assurance of having an accurate result at least, possible you can point out the possible direction of the price. However, traders and gamblers have the same aiming profit and the same taking a risk.
When one is into trading his mind needs to focus on long term profiting than quick earning. Trader with the gambling mentality can't make profit out of trades. It is well said, a gambler easily gets emotional after loss, which doesn't suits with trading. The traders try to make something out of the market moves, whereas gamblers look for luck than following strategies.
I find both form of traders to be successful, but the percentage differs. The success rate of a trader against a gamble mentality trader will be like 85:15
Traders are more on long term profiting so they should need more knowledge and skills to sustain their trades and end up being successful. This is why they have to focus more on analyzing the market patterns because that will be their bases when to trade as long as they see the market is stable. However, gamblers always aim for quick profits and so they tend to lose their capital too quickly compared to traders. They may have prior knowledge and skills in gambling but they mostly depend on luck whenever they start betting. I find both form of traders to be successful, but the percentage differs. The success rate of a trader against a gamble mentality trader will be like 85:15
I don't know how it makes it hard to distinguish a trader from gambling as obviously the two is different and even we know what we really are be doing.
Trader- often to make a trade, buy and sell, and make a profit from the market. Requires knowledge and skills in order to make a profit.
Gambler - that is clearly betting. It requires knowledge and skills as well but what makes this being bold is that we need luck in order to win.
You are right mate. Traders and gamblers are very different so one should not mistakenly call a trader a gambler, or a gambler as a trader. Traders need to be more good in fundamentals and technicals so he can come up with a good market pattern analysis because that will determine when to trade. However, gamblers can gamble any time they want. As long as they think the luck is there, everything good will follow. Trader- often to make a trade, buy and sell, and make a profit from the market. Requires knowledge and skills in order to make a profit.
Gambler - that is clearly betting. It requires knowledge and skills as well but what makes this being bold is that we need luck in order to win.
plus on the factor of those price increase or gains on percentage form then it would really be on that way.Risk is there but unlike gambling which it is more higher and not really sustainable for long term
thats why its not ideal nor a good move on considering on having a gambler like mind when you are dealing with trading because thats not how it works.
It is right that gambling and trading are not the same, but the losses can be the same, some traders, especially new traders also trade in a way they are gambling, no speculation or analyses than just gambling but thinking they are trading. The losses in trading can be significant. But for experts, the losses can be insignificant and can be nothing if compared to the net profit, but at times, market can go a wrong direction in a way even expert traders can lose. thats why its not ideal nor a good move on considering on having a gambler like mind when you are dealing with trading because thats not how it works.
The most well-known conduct you would have at first is to resemble a player on which you are incautious in addition to having no gamble the executives or care that much on your funds until you do lost cash. They are betting with the market, with individuals who give their advances, with influence, security liquidation.
What has been noticed here is some truth of their own as far as the past is concerned I really believe traders here at high tide I think it takes both risks and never it alone they take high risk trades I hope here can flow with emotion but Not all of the traders who can prove their business here are long-term traders here but others here and these are not important here in the end it is supposed to reward them.
plus on the factor of those price increase or gains on percentage form then it would really be on that way.Risk is there but unlike gambling which it is more higher and not really sustainable for long term
thats why its not ideal nor a good move on considering on having a gambler like mind when you are dealing with trading because thats not how it works.
like when we play a dice game, we cant simply bet and roll the dice at the default settings or multiplier which is 2x because most of the times we can lose in an instant but a skilled gambler will modify the setting and use a different multiplier to lessen the risk of losing and to greatly increase his chance of winning but no matter how you follow your start, losing is sometimes unavoidable and the same thing can happen to a high skilled trader, they can experience to lose too even if they are not completely gambling or relying on luck.
All of us know the difference between the gambler and the trader but we sometimes relate one another because they have similarities.
That is what the regular good trader would do as well. They would arrange a strategy that would perfectly fit for their goals and characters and they would focus on that but not only do that forever, but also improve that and change it according to market requirements of the day as well.All of us know the difference between the gambler and the trader but we sometimes relate one another because they have similarities.
A bad one will find something (like martingale) and then copy that and try to do that forever until they lose all of their money and then complain that the game is rigged. A good trader also knows, and not predicts by the way literally knows, that there are losses in trading and anticipates that, which would result with you having a bit of a good return eventually.
there are also gamblers who creates their strategy and make sure to follow in order to take advantages, experienced gamblers are same with experienced traders, they are good in analysing the possibilities, with hands on experienced they also anticipate how would be the turnaround of their gambling. But unlike with trading, there are many aspects that influence the market while with gambling, most of the time it's luck that influenced the wins.
High-risk if you just simply put your position and not to study how the business works, trading can be learned while in gambling just like what I just said, more on luck base to win.
Yeah, like when we play a dice game, we cant simply bet and roll the dice at the default settings or multiplier which is 2x because most of the times we can lose in an instant but a skilled gambler will modify the setting and use a different multiplier to lessen the risk of losing and to greatly increase his chance of winning but no matter how you follow your start, losing is sometimes unavoidable and the same thing can happen to a high skilled trader, they can experience to lose too even if they are not completely gambling or relying on luck.High-risk if you just simply put your position and not to study how the business works, trading can be learned while in gambling just like what I just said, more on luck base to win.
All of us know the difference between the gambler and the trader but we sometimes relate one another because they have similarities.
What is being said above as changing of default settings or making the bets varying the winning chance were the strategy. It can be learnt out of experience. With trading skills and continued learning is a must whereas with gambling luck is enough to win.
What has been noticed here is some truth of their own as far as the past is concerned I really believe traders here at high tide I think it takes both risks and never it alone they take high risk trades I hope here can flow with emotion but Not all of the traders who can prove their business here are long-term traders here but others here and these are not important here in the end it is supposed to reward them.
there are also gamblers who creates their strategy and make sure to follow in order to take advantages, experienced gamblers are same with experienced traders, they are good in analysing the possibilities, with hands on experienced they also anticipate how would be the turnaround of their gambling. But unlike with trading, there are many aspects that influence the market while with gambling, most of the time it's luck that influenced the wins.
High-risk if you just simply put your position and not to study how the business works, trading can be learned while in gambling just like what I just said, more on luck base to win.
Yeah, like when we play a dice game, we cant simply bet and roll the dice at the default settings or multiplier which is 2x because most of the times we can lose in an instant but a skilled gambler will modify the setting and use a different multiplier to lessen the risk of losing and to greatly increase his chance of winning but no matter how you follow your start, losing is sometimes unavoidable and the same thing can happen to a high skilled trader, they can experience to lose too even if they are not completely gambling or relying on luck.High-risk if you just simply put your position and not to study how the business works, trading can be learned while in gambling just like what I just said, more on luck base to win.
All of us know the difference between the gambler and the trader but we sometimes relate one another because they have similarities.
The gamblers should always get prepared that the market does not work in a way that everyone think it's going to go. Market is unpredictable and those who are gamblers would tend to loss more when things go wrong. Although there is always a urge to leverage more when one thinks the market is going to dance to our tune. I think the newbies trader sometimes do fall in this situation because of weak knowledge about the market.
For newbies, better be ready to lose money in the beginning, I think that is a given fact. You can't simply trade and be 100% on making money. So for me it's good to lose money but at the same time learning through experience. For gamblers, they doesn't care, as long as they think they will profit, they will bet everything they had. As compare to a good trader, wherein he looks for market signals before putting money into the game.
for extra points. for people trading in the crypto world, most of the assets to choose from are assets owned by large companies. however, the price of the asset moves based on demand and need. Because of this, the basis of trading is analysis from various sources, while gambling is analysis based on luck. In addition, a loss in gambling is a 100% loss of assets, while a loss in trading is simply a loss of the value of the assets that we have with the same amount, and there is still a high possibility for the price to return.
As long you dont realized those losses then it would be still have the chance of recovery when you do simply hold it but patience would really be your main enemy on this one and unless you do involvedwith future/leverage trades then you cant really be liquidated as long you dont close up such trade and thats the difference in between gambling in talks of recovery which cant be possible when you are
actually playing on other thing.The similarities in speaking with being a gambler is on the times that you do took up some risks because of some gut feeling or intuition or simply you dont have
any idea on what would be your next move.
Chasing markets and rushing the process is not what real traders do. Instead, they follow their plan and wait for the price to play out and match their entry criteria before executing. Nonetheless, gamblers like to overtrade, open positions based on nothing, make biased decisions.
It is very important that traders get to know that they don’t have to get into trading except when a few of their criteria are met. Trading is not gambling and it is not something that you just get on with without having criteria that should be met before you start your trading. This is why anyone who wants to be a trader has to learn first and after you have learnt and developed a strategy that works perfectly you then have to know what should be met before you start your trading with that strategy and have it being successful. Every strategy works, but you have to know when.there are also gamblers who creates their strategy and make sure to follow in order to take advantages, experienced gamblers are same with experienced traders, they are good in analysing the possibilities, with hands on experienced they also anticipate how would be the turnaround of their gambling.
This is just what I had in my mind. Even gambling requires strategies. There are lots of gamblers who always analyze their games and they take their time to learn it and be really good at it before they start playing it. Same way that trading requires that a trader has to learn and develop a good strategy for them to be successful is the same way that gambling also requires that you learn it and have strategies that would work for you. But, as you have also pointed out, it is mainly on luck that gambling runs on, while trading is mainly based on having a good strategy that would work. Both are similar in some ways.
for extra points. for people trading in the crypto world, most of the assets to choose from are assets owned by large companies. however, the price of the asset moves based on demand and need. Because of this, the basis of trading is analysis from various sources, while gambling is analysis based on luck. In addition, a loss in gambling is a 100% loss of assets, while a loss in trading is simply a loss of the value of the assets that we have with the same amount, and there is still a high possibility for the price to return.
There is a little difference in the the thinking of the traders because there are many traders who are just traders not gamblers but they way they want to earn more and more money in a less time, that gradually their habit converts into gambling through different circumstances, there are many traders which work with consistency and got their profit.
Nah you got it all messed up. The traders who actually end up as traders are the ones who never had the gambler mindset, because those who did would have incurred so much losses that they would have stopped trading. It is a type of survivor-ship bias working here.While the gambling aspect of trading is the margin and leverage trading, these things become more popular when the market goes in to stagnant mode. Spot becomes more popular when there are big swings in price. Either way both want to take money but the importance is the long term followup, where the first group fails in being able to hold out for long while the second group does survive.
There is a little difference in the the thinking of the traders because there are many traders who are just traders not gamblers but they way they want to earn more and more money in a less time, that gradually their habit converts into gambling through different circumstances, there are many traders which work with consistency and got their profit.
Both want to earn money.The difference is there are gamblers that play luck-based games and they rely their lives on it. Although there are games like sports betting which is like trading that you can use analysis through news and speculations.
In trading, there's an actual basis and you can read charts depending on your strategy. And as you've said, they're relying on their consistency and don't get attacked by their emotion. Because if they allow that, they'll lose a lot with a little wrong move that they allow to happen.
There is a little difference in the the thinking of the traders because there are many traders who are just traders not gamblers but they way they want to earn more and more money in a less time, that gradually their habit converts into gambling through different circumstances, there are many traders which work with consistency and got their profit.
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