Topic: Can a gambler be a good bitcoin trader? (Read 1175 times)

The question is whether a gambler can be a good Bitcoin trader, and in my opinion, as long as the gambler isn't addicted to gambling, they can, because they will be able to have a limit for the time and money they will be spending on gambling and their gambling activities will not intervene with their trading activities and they will have enough time to learn and do trading while also having enough money to keep buying and selling Bitcoin or other cryptocurrencies without any hassle.

However, suppose the person is addicted to gambling. In that case, they cannot be a good Bitcoin trader or be able to do anything effectively along with their gambling activities because they will be spending most of their time and funds on their gambling activities and won't have enough time and money left that they can use for the other activity.

Gambling has different games including ball games but in sports betting, there are literally ball games there. Meanwhile, trading is not a game, and much more it isn't a ball game . Bitcoin trading is actually less risky than in gambling because it involves analysis. Sure you can as well analyze in gambling (casino games) but that won't give you a good advantage. Results are still going be the same random. Learning is hard but what about constant losing of money?

I think that was more tiring. So a gambler should be willing to sacrifice. However if the gambler is only doing it for fun, he won't ever mind his losses and will continue doing it.

Though we advocate that gambling should be a form of entertainment and not an investment, we will not deny the fact that gamblers and traders share certain qualities together. Two qualities a gambler and a bitcoin trader share in common is risk taking and patience.

The decision to put your funds in projects you are not certain about it's outcome is risk on its own and both the gambler and the trader are perfect examples of risk takers. If the gambler can risk putting his funds in games and bets that are purely base on luck, why then should he be skeptical about trading Bitcoins?

In most cases,  a gambler can gamble for a long period of time without winning yet he never quits, that's patience and for one to be referred to as a good trader, he must possess this quality.

A gambler can be a good trader, all he needs to do is to learn the basic skills needed to trade effectively and he is good to go.

There's no doubt or question to that if we do compare gambling risks and trading risks but on the time that you do make out trades without having those indicators or analysis then you are just simply doing gambling.
Risk is everywhere specially if we do speak about earning money then this is something which is relevant or really in default. Gambler could be a good bitcoin trader? It does vary because there are other behaviors or factors on which it is really that needed for you to be considered to be a good trade. Risk management is really important but we know that it isnt enough on just like that, you would be needing other factors
on which it would be helpful on making yourself to be better.

Same goes into those gamblers who are strategic based on which it is really that something that you would really be needing to have that kind of skill for you to survive out.
If not then you will be just putting up yourself on a situation on which you will suffer with those losses same goes with trading too.
If you dont make yourself that wise on taking up decisions or risk factor then expect on what would be the next outcome.

        -   They are not really related to each other, as among our people, they are not blood relatives. Then you are right in what you said;
no matter how addicted you are to gambling, as long as you think of doing or learning Bitcoin trading, there is no problem because, like gambling, everybody is welcome.

The only difference between the two is that bitcoin trading can be considered a profession or skill, while gambling is not rather a hobby or for entertainment for gamblers.

Yes, that is right. It's only identical to the risk we are taking but the truth is gambling is riskier in my own opinion. In gambling, we tend to lose money without a fallback. In trading, we can somehow save our trades by pulling them out before it goes to zero. And we are not risking our money against the house in trading. We are trading against the flow of the market which could be unpredictable unlike in gambling where the system controls it.
They could make you lose most of the time by simply not letting you win on every bet that you will make. While in trading no one is in power to control what will happen to the market unless you are super rich to manipulate it. That is unlikely to happen because I believe retail buyers and sellers are too many than the whales. If there's anything that can move the market, it's either the hype or FUD and if a trader is updated to cryptocurrency news, he will always be ready to either buy or sell. There's a big difference between the industries that are being compared.

Speculative trading generally uses market analysis and statistical data, not luck. Is it reductionist to call all trade gambling? Both include risk and prediction, but isnt ignoring trading strategy oversimplified? Trading uses data, market movements, and economic theory; does gambling use them?

You say traders and gamblers need emotional management. True, but isnt this simplifying financial markets and psychology? The key difference is risk assessment and decision-making style. Isnt trading, especially long-term investing, more like strategy than gambling? Reducing trading to gambling ignores financial literacy and market comprehension.

My most concern is that people feel that cryptocurrency is gambling but literally only those who day to day trade are gamblers. Trading is a form of gambling are have more similarities in common. Both of them depends on predictions, speculations and risk. Another aspect that the  financial news favors the trader perspective and the statistical performance if a team and news regarding players presence or absence also favors a gambler. Trading is more like gambling. It's mostly done for short term gain. There is nothing like I have high IQ, more educated or made more researched as long as you can't see the future. That I'll consider a gambling whether trading or gamble.

In general a person who feels he can manage his emotions can gamble at the same time still trade since he has thee finance, capital or equity. The only common challenges for both a gambler or a trader is capital. Sometimes they could loss their capital in a trade or a bet. So they need to start all over again unless they have another source of income.

It’s beyond my comprehension to play several tables at high stakes like this for years with minimal mistakes. These professionals truly deserve the big money they made in online poker. And they are in no hurry to move into trading because they know their business very well, and trading is unknown and uncertain for them. Although I’m almost sure that most of them would also be successful. Probably when there are significantly fewer poker players and there is no one to collect money from, they will have to look for a new place to earn money, but this has been talked about for a very long time.

By the way, streamers could take part of their audience, which would come to trading with them, and earn good money from referral links in various projects.

A gambler must first analyze everything properly more important than that is self-control. There are many gamblers who prioritize gambling over business and when they become addicted to gambling they suffer a lot from the business side. This is why you need to keep yourself in check and master the skills to manage both tasks using your own knowledge and skills then bitcoin trading with gambling will become effective. Otherwise you will never be able to get the best out of it and will be at a loss.

Those little gestures that we do as gamblers just like what you have said from those pro poker players or even pro sports bettors. They all have the patience and they add up small things to become productive on their craft.

Playing several tables or bets within a day, honestly it is an exhausting thing. People say that gambling is easy and fun but it's no fun when you don't like what you do and it is not easy when you don't have that type of patience that it requires, right?

It is true that there is no relation between Bitcoin trading and gambling, I also don't want to deny that a gambler can be a good Bitcoin trader. Rather I think a trader can act like a gambler when he trades without understanding. In this case, I want to say again that nothing is possible for those who become addicted to gambling. First they need to free themselves from addiction then if he can gain fundamental and technical knowledge about trading then he can become a good bitcoin trader.

The bitcoin trader can act as the gambler by learning the gambling games and they had huge money for the future gambling games.But the gambler move to the trading will loss their good time in the gambling,after some games the tactics will be created by the gambler.So he should use their money in the same gambling to tackle the old loss in the gambling by making the more money win using their new created tactics.But the gambler also can use the trading to use the trading profit for the gambling.The trading profit will be considered as the free money from the trading,So reinvest that money to the gambling will create a wide opening for the gambling games in the future.Gambler should ready to build their own empire in the gambling world by the continuous game in gambling sites.

Not only on becoming that irresponsible because even being a trader on which you could really be able to potentially reach up this kind of situation when you are trading on which there are really moments that you do really look like a gambler on the time that you do trade specially when making up some trading decisions without any basis. Also we should really be that tending out to realize that gambling is totally different from trading literally.
Gambler could be a good bitcoin trader? For having that enhanced risks taking then i  should say yet but not all the times that it would really be that effective or something that gives out guarantees that you could
succeed on trading career on which considering that there are really things or factors on which it could totally make you definitely a trader.

You would really be able to find for yourself on how relevant those other factors are on which there's no way that you could really be able to make yourself that being a trader
with having a gambler like mind because actions would be made will really be not that be mindful which it isnt the right way to approach in speaking about trading.
You would really be needing to have that systematic approach towards trading because handling market does really need up some approach which in make use
of proper indicators and tools and this is something that you could really be able to joke about.

Although gambling and trading share a common characteristic such as risk, being successful in one area will not necessarily make you successful in the other. A gambler can learn how to trade, but it is important to understand the differences between the two activities and prepare to learn new skills. It takes a lot of time, study and practice to learn trading.

You seem to understand the situation very well, many would argue that trading and gambling are just two parallel lines that can never meet. But in practice, they are interrelated depending on the attitude of the person towards gambling and trading. To buttress your point, it's possible that I trade today and gamble tomorrow, I referred to both in trading. The distinction between the two is that, for the first, I followed my right trading system and plans which I know without deviation, but in the second where I gambled, I did just the opposite. This means that you can be a trader and be gambling in your trading, it depends on your sincerity in trading itself.

This is not so different from gambling itself, and some gamblers are even fairer in this context compared to how some traders behave irrationally in their trading.  This is another reason why I agree that some gamblers could be better than traders analytically simply because they are true to their gambling analysis than how some traders are true to their trading analysis.

Have you seen a gambler do analysis before? They are damn good in their analysis and I think if he brings this analytical skill into trading, it could be very much useful to him. There are let's of traders that are into gambling and I personally believe that whatever knowledge we have in a sector, we could apply it in another sector that is of the same or similar nature and still make the best out of it.

It is true that a gambler can be a good trader but not all gamblers can be good traders. Doing business requires having good business qualities which are not usually possessed by everyone. Some people gamble after completing their other tasks well and there are some people who think they are doing all the work by gambling. Gambling is not a big deal for those who already have a source of income or a good business, but gambling is a big deal for those who have no source of income or who are not already involved in any business. There are many people who want to change their fortunes by gambling, but those who want to change their fortunes by gambling cannot become good traders anyway.

Gambling and trading are different. But when someone trades without analyzing the market situation, he is gambling with the trade and he has a greater risk of loss. People like that will spend more money than people who analyze because they think that they will get big profits. But unlike people who do analysis, they will calculate or consider how much money they can use for trading. A gambler can be a good trader if he can analyze the market before starting to trade because it is a requirement to enter the market. But many gamblers and traders alike need more patience in trading so this will affect their trading decisions.

it's possible that a gambler can become a good bitcoin trader, but not all gamblers, because to be a good bitcoin trader they are not only able to accept risks but they must be good at technical and fundamental analysis to be able to achieve profits according to the strategy they use.

because gamblers and traders are two different things, even though they both take risks, traders require fundamental and technical analysis which cannot be found in gambling. even though some people say that trading is the same as gambling, it is different because traders read market trends and price movements and they use tools that help in their trading, and not all gamblers can do this.