A few key points distinguishing traders from gamblers - page 3.

Oshosondy

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Quote from: Smitty Werben Man Jensen on March 13, 2022, 10:19:40 PM

The more we try, the more we will know where the error is that must be corrected.
in trading we can't just theorize we have to be brave to try so that with a lot of experience it will make us better,
In addition to increasing understanding of the market, we need to always improve both knowledge and skills as well

Let me accept this to be true, but some traders are just losing because of the type of trading they are exposed to, some people started as a day trader and scalpers but continuing losing, just like me that started trading since almost two years ago but continue to lose, the loss has been as a result of still lack of knowledge and entering trading at the wrong time, but I do not know when the right time will come that I will make profit than losses. I decided to change to swing trading which is better. Also not everyone are meant to be a scalper or a day trader, swing and patient type of trading can be all what some people should be doing rather than wasting their time and effort and yet losing money on day trading and scalping.

Desmong

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Note this...
A gambler will always rush to take profit even when the time had not reached.
A gambler will always tend to use bigger risk to reward ratio that can blow up the entire account.
A gambler will always rush to make big income without taking proper analysis of the market.
A gamblers with always ignore doing thorough research at the appropriate time.

There are more ways to differentiate a gambler from a real trader.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: ?? on ??

I think you are right because being a trader is a part to get to perfection. one needs to have made some mistake that will make them better. If you analyse the crypto market and at the end things couldn't walk in the way you planned it, using the mistake to set pass makes one to understand more about the Market and make proper adjustments next time.

I dont see how you can do such adjustments unless you are day trading which by itself is more risky than spot trading. When day-trading traders use the indicators to understand how market moves, this is called technical analysis and it is only correct in about 50% of the cases. So you can make the decision to stick with day trading or stick to bitcoin long term buying and selling to get profit.

Also the term perfection does not exist in speculative assets. You can develop your methods but the basic concept remains the same. The whole game depends on the timing and patience.

Smitty Werben Man Jensen

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Quote from: btc_angela on March 09, 2022, 01:26:16 PM

Quote from: ?? on ??

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.

I think you are right because being a trader is a part to get to perfection. one needs to have made some mistake that will make them better. If you analyse the crypto market and at the end things couldn't walk in the way you planned it, using the mistake to set pass makes one to understand more about the Market and make proper adjustments next time.

The more we try, the more we will know where the error is that must be corrected.
in trading we can't just theorize we have to be brave to try so that with a lot of experience it will make us better,
In addition to increasing understanding of the market, we need to always improve both knowledge and skills as well

LUCKMCFLY

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Quote from: ?? on ??

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.

You are right, in fact it is very common that sometimes we place orders that are not fulfilled but the opposite happens, and that is why it is so essential to place the stop loss, when our operations are touched by the stop loss it means that in some way we protect a part of our money and that the loss must be assumed, and if this happens very often it is because we are not having the proper vision of the market and that we must change our strategy, or in fact know how to wait until there is a good entry, because the market is always benevolent, there is always a new opportunity to enter, the important thing is to know how to interpret when it should be good to enter.

doomloop

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Quote from: taufik123 on March 10, 2022, 03:42:50 PM

those who decide to completely stop trading certainly do not fully understand the knowledge needed in trading, and they then say trading is very risky and some even say it is gambling.
This is a natural thing when beginners do it. But this will be a good lesson or an experience for beginners who don't want to give up and continue what they have started, rather than having to stop because of one failure.

I might have to agree with the fact that trading cryptocurrency is a very risky thing to do. Yes it is very risky because it is not an easy business and you end up losing your money if you’re not very careful with it. Being a trader requires lots of training and also getting to have the experience and understanding starting from the basics.

You need to know how to handle the risk that it is involved in trading, because if you do not know how to manage your capital while trading, you are going to be losing money on a steady. But just because trading is risky doesn’t mean that people shouldn’t do it, those who truly understands will know that the difficulties that they encounter is meant to reshape them and make them understand what they should do next when trading.

Mahanton

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Quote from: taufik123 on March 10, 2022, 03:42:50 PM

Quote from: carlfebz2 on March 10, 2022, 03:23:56 PM

-snip

those who decide to completely stop trading certainly do not fully understand the knowledge needed in trading, and they then say trading is very risky and some even say it is gambling.
This is a natural thing when beginners do it. But this will be a good lesson or an experience for beginners who don't want to give up and continue what they have started, rather than having to stop because of one failure.

Trading does involve lots of failures before you could attain sustainability but of course it would depend on how you would dealt with it because not all does have the same level of tolerance when it comes on losing money on which some might able to recover and stood still and the rest would just simply quit up because they dont have any more money to spare which is really a common scenario.If you are a gambler
and you do apply it into something which do require some strategy then you wouldnt notice it on your first time but when you are experiencing some losses then this is where you do
become serious and trying out to search everything connected to it.

TelolettOm

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The main difference between a trader and a gambler is how they set the coins and numbers when buying/selling, short or long.
A trader will usually use several analytical techniques in terms of indicators and fundamentals. In contrast to gamblers who just carelessly follow coins that are okay to trade without further analysis.
Gamblers will usually risk more money, because without good analysis, and they only hope that at that time they will get a profit, more on luck.
While traders don't, they have considered various possibilities in the future whether to lose or profits and what to do if it turns out that the situation turns around, it may result in loss.

taufik123

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Quote from: carlfebz2 on March 10, 2022, 03:23:56 PM

-snip

those who decide to completely stop trading certainly do not fully understand the knowledge needed in trading, and they then say trading is very risky and some even say it is gambling.
This is a natural thing when beginners do it. But this will be a good lesson or an experience for beginners who don't want to give up and continue what they have started, rather than having to stop because of one failure.

carlfebz2

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Quote from: Silberman on March 10, 2022, 03:10:50 PM

Quote from: btc_angela on March 09, 2022, 01:26:16 PM

Quote from: ?? on ??

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.

This is what eventually ruins a great deal of newbies, they come to the market with complete mistaken expectations, but of all the misconceptions they have of the market probably the worst of all is that they actually believe they can come to this market, make money and never lose it, a good trader losses money from time to time but that does not affect him, but why is that the case? Because at the end he knows that his system is solid, and even if he losses a trade on average he should earn money with each trade he makes.

Out of those expectations then here comes on facing the reality on which it would really be crucial for your learning and realizations which neither it would push you to decide whether you would proceed or would

completely stop because not all people do really have good impressions about trading when they are just starting.They lose then they do simply stop and saying that trading is too risky but they
havent realize that despite of those risks there would be profits if they have done just well on what they are doing although it wont be that simple but it is attainable.

Silberman

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Quote from: btc_angela on March 09, 2022, 01:26:16 PM

Quote from: ?? on ??

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.

This is what eventually ruins a great deal of newbies, they come to the market with complete mistaken expectations, but of all the misconceptions they have of the market probably the worst of all is that they actually believe they can come to this market, make money and never lose it, a good trader losses money from time to time but that does not affect him, but why is that the case? Because at the end he knows that his system is solid, and even if he losses a trade on average he should earn money with each trade he makes.

Quidat

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Quote from: Japinat on March 09, 2022, 05:24:25 PM

Quote from: btc_angela on March 09, 2022, 01:26:16 PM

Quote from: ?? on ??

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.

Newbies have sometimes create their beginner's luck and tends to win over their first trades. But that won't sustain for the coming days and months. If you don't act as a good trader and don't have the required skills and strategies to win a trade, you will never be successful in trading. Gambling, on the other hand, is pretty driven with luck and some expertise. But since gambling offers no assurance to win in the long run, gamblers often lose their capital and finds it hard to recover them. If they will never stop in trading, they will never stop from losing their bets too.

We cant really deny that into those times that we are still noob then we do have this kind of behavior which is really very common.We do really test it out first and find out if we do make it well or not.
Its not really avoidable that you would make out some actions which is similar on being a gambler because we do still lack knowledge then it would really be just normal for you to commit out.
Once you do gain out experience then this is where you do changed your behavior towards your trading and you would be minding more on the risk involved.

Japinat

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Quote from: btc_angela on March 09, 2022, 01:26:16 PM

Quote from: ?? on ??

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.

Newbies have sometimes create their beginner's luck and tends to win over their first trades. But that won't sustain for the coming days and months. If you don't act as a good trader and don't have the required skills and strategies to win a trade, you will never be successful in trading. Gambling, on the other hand, is pretty driven with luck and some expertise. But since gambling offers no assurance to win in the long run, gamblers often lose their capital and finds it hard to recover them. If they will never stop in trading, they will never stop from losing their bets too.

Finestream

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Quote from: ?? on ??

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.

Well, newbies in trading are expected to create losses at first. In fact, that will motivate them to gain good knowledge in the market and develop and enhance their skills and strategies in trading. Overtime, they will start to improve the way they trade and start minimizing their losses. But gamblers do the opposite way. The more they gamble, the bigger amount of capital they will lose. It does not matter how long they have been gambling, they will not learn skills on it. Because in reality, the ratios of big losers are extremely large than those who came up big winners in gambling.

Kasabus

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Quote from: btc_angela on March 09, 2022, 01:26:16 PM

Quote from: ?? on ??

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.

Good traders do not just trade easily, they do it with skill and proven strategies that will work on them. And they always create market analysis with technical indicators to come up with a reliable market to trade. However, with gambling, they mostly rely on luck. If they think that they will be lucky that day, they will gamble all what they have for profits. But at the end of the day, its the house that mostly win, and gamblers usually go home with empty pockets.

btc_angela

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Quote from: ?? on ??

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.

Silberman

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Quote from: Fredomago on March 03, 2022, 04:51:20 PM

Quote from: Hamphser on March 03, 2022, 04:18:36 PM

Touching futures or leverage trades when you are still a noob is totally a suicide or something that shouldnt really be done in the first place.This is why touching this area is never been recommendable.

When you do deal with trading then you should get rid that kind of mindset on being a gambler via means on making out trading decisions without any analysis and considerations.

You would really find it problematic later on if you do realize that you do need something before making any move because it would surely counts.

You are more on doing gambling instead of trading, future trades are for experienced people who understand the risk and the benefits of this kind of business. Better to stay away if you are just new to this business, take time to research and do your homework, it's your hard earned money that you will go to stake.

The system is far different from how regular trading works. Once you made a mistake, there's nothing that you can do but to add new funds, while with traditional trading you can continue to hold and wait for the price to bounce back.

Agreed, future trading and leverage are for experts only, I understand the attractiveness they have for the newbies but unless you have proven yourself for several years that you can obtain profits in the markets then you need to say away from them, as a single mistake can be more than enough to ruin your account as the losses which you can incur are massive, and yet newbies do not understand this and as a result of this attitude they keep losing their money.

Fredomago

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Quote from: Hamphser on March 03, 2022, 04:18:36 PM

Touching futures or leverage trades when you are still a noob is totally a suicide or something that shouldnt really be done in the first place.This is why touching this area is never been recommendable.

When you do deal with trading then you should get rid that kind of mindset on being a gambler via means on making out trading decisions without any analysis and considerations.

You would really find it problematic later on if you do realize that you do need something before making any move because it would surely counts.

You are more on doing gambling instead of trading, future trades are for experienced people who understand the risk and the benefits of this kind of business. Better to stay away if you are just new to this business, take time to research and do your homework, it's your hard earned money that you will go to stake.

The system is far different from how regular trading works. Once you made a mistake, there's nothing that you can do but to add new funds, while with traditional trading you can continue to hold and wait for the price to bounce back.

Hamphser

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Quote from: tippytoes on February 28, 2022, 03:24:16 PM

Quote from: Fredomago on February 28, 2022, 03:16:15 PM

Quote from: Silberman on February 28, 2022, 02:56:51 PM

Quote from: Anguwa on February 25, 2022, 10:39:37 AM

Gamblers take advantage of everything they believe would provide them with quick cash, and when it fails, they become furious, and the same way they take crypto trading. They assume that they can just invest in a coin and receive a 10X return right away; nevertheless, they are frequently discovered to lack fundamental knowledge of cryptocurrency trading, and they are frequently the false investors that dump new projects in the name of gambling.

Unfortunately many newbies have that kind of mentality, which is sad because that means they are going to lose a huge amount of money to the markets as it is very difficult to predict not only which coin will go through a 10x growth but when it will happen, after all stories of people that held a coin for years and the coin experimented no movement only for them to sell their coins and then the coin skyrockets shortly after are not rare at all.

There are many stories about regretful action around this market, but to pinpoint the kind traders who act like gamblers, they are very prone of losing a lot, without proper knowledge and good trainings before stepping inside this market, the chance that they are risking too much with their money is at stake.

They tend to take the high-risk investment believing that they are doing the right thing, they only realize mistakes when they suffered from
big losses.

It's knowledge upon the market that will lead each traders not to work as gamblers while investing around. Cool

One good example of a trader who is somewhat similar to a gambler is when a newcomer in crypto ventures in futures trading. This is a very risky move for me like you are in the game of crash or you are investing in a new alt hoping to get 10x or 100x return. There are similarities in behavior of both individuals, but if a trader is a smart one, he can reduce the chance of losing it all or at least prevent from further losing because you know when to stop.

Touching futures or leverage trades when you are still a noob is totally a suicide or something that shouldnt really be done in the first place.This is why touching this area is never been recommendable.

When you do deal with trading then you should get rid that kind of mindset on being a gambler via means on making out trading decisions without any analysis and considerations.

You would really find it problematic later on if you do realize that you do need something before making any move because it would surely counts.

Silberman

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Quote from: Fredomago on February 28, 2022, 03:16:15 PM

Quote from: Silberman on February 28, 2022, 02:56:51 PM

Quote from: Anguwa on February 25, 2022, 10:39:37 AM

Gamblers take advantage of everything they believe would provide them with quick cash, and when it fails, they become furious, and the same way they take crypto trading. They assume that they can just invest in a coin and receive a 10X return right away; nevertheless, they are frequently discovered to lack fundamental knowledge of cryptocurrency trading, and they are frequently the false investors that dump new projects in the name of gambling.

Unfortunately many newbies have that kind of mentality, which is sad because that means they are going to lose a huge amount of money to the markets as it is very difficult to predict not only which coin will go through a 10x growth but when it will happen, after all stories of people that held a coin for years and the coin experimented no movement only for them to sell their coins and then the coin skyrockets shortly after are not rare at all.

There are many stories about regretful action around this market, but to pinpoint the kind traders who act like gamblers, they are very prone of losing a lot, without proper knowledge and good trainings before stepping inside this market, the chance that they are risking too much with their money is at stake.

They tend to take the high-risk investment believing that they are doing the right thing, they only realize mistakes when they suffered from
big losses.

It's knowledge upon the market that will lead each traders not to work as gamblers while investing around. Cool

While without a doubt knowledge is key at the same time some level of common sense is required, after all people thinking that they can pick a coin that will do a 10x are simply delusional, in theory someone can do this as we see many coins doing a movement like that during a bull run, but the number of people that are fortunate enough to invest in a coin before it makes a movement like that are very small, so it is unrealistic to think that something like this can be done consistently, which is exactly what those newbies think and why they get in so much trouble when investing in the markets.

Topic: A few key points distinguishing traders from gamblers - page 3. (Read 889 times)