Topic: Can a gambler be a good bitcoin trader? - page 2. (Read 1356 times)

Being a gambler and a trader both have risks, which is why becoming a bitcoin trader is no problem as long as you can stop the habit of gambling, after all, a gambler can definitely be a good and profitable trader compared to gambling, although it is also necessary to learn techniques and price analysis, because Trading requires skills in reading market charts so you can target profits and minimize losses.

There is no difference whether you want to be a gambler or a trader, both have the same risk, namely losing money, personally I also run both simultaneously although sometimes it is difficult to divide my time because I always play consistently so I can get good profits every weekend whether it be from gambling or trading.

You are right, in trading we have to understand techniques and also price analysis to be able to trade because without us understanding trading well and we do it based on guesswork, of course we do it the same as gambling, we need luck to be able to get a profit from our trading. do it, without luck we will continue to experience losses from the trading we do.

To be factual what they have in common is the profit or loss that come out of it at the end of the day. No doubt that you can be a bitcoin trader and also a gambler but you are going to see them differently because they also operate differently, their tools are not also the same.

To determine mean the outcome of losses or profit, the trader can do that with the system adjustable to his plan but a gambler goes in and can only come out when the game has been settled for his profit or his lose.

A person can conveniently do both, because they have more in common than differences. I like the way you integrated them, a gambler can apply the risk experiences in bitcoin trading, and use some percentage of his profit in trading to have fun and relax in gambling. Both share the same uncertainty in the outcome of their efforts, despite the fact that one depends mainly on luck, while the other depends on analyses, in the end an external factor determines  their win or lose.

I agree with you about applying the risk experiences in both trading and gambling, you're right that both activity comes with risk and they have more in common, like you have to be more focus and you need to show your ability when it comes to managing your time and bankroll but also there's a lot of difference between the two. As you've mentioned that the other one which is gambling depends on luck  which is true but somehow just like on trading,  It needs financial and technical analysis too.

A person can conveniently do both, because they have more in common than differences. I like the way you integrated them, a gambler can apply the risk experiences in bitcoin trading, and use some percentage of his profit in trading to have fun and relax in gambling. Both share the same uncertainty in the outcome of their efforts, despite the fact that one depends mainly on luck, while the other depends on analyses, in the end an external factor determines  their win or lose.

If a trader trades on the spot market, he clearly has an advantage over a gambler, as his actions are not limited by time frames, and since bitcoin is a deflationary asset, even if you buy it at the highest price, you can get your money back in a few years. I am engaged in trading on the crypto market and gambling, and personally for me cryptocurrencies carry less risk than gambling. Perhaps everything would be different if I had a better understanding of sports, but unfortunately I do not have it.

So if a gambler where to go into bitcoin trading, do you think that the experience of taking risk in gambling will be an added advantage to face the risk of bitcoin trading?

Yeah, so it's the come and go from other professionals that are good in something and going on with trading and gambling.

When you're good in poker or any gambling games that requires you to think and analyze. That means that you can also analyze the trades that you're about to do for your reference.

That's why it is open for everybody to take their own journeys in trading if they're a gambler and they want to try something new. And from this forum, many of us are both.

Why not, if you're a gambler doesn't mean all you know how to do is gambling and you can't even trade or learn to do so, having the combination of the two is not that bad, it will only widens one's scope and knowledge of doing them both, having fun in gambling and usin the experience in trading bitcoin and using the earned interest on bitcoin bitcoin to also gambles, at the last end we becomes being fulfilled by all we do, either in gambling, trading bitcoin or combining them both altogether.

Why not, if you're a gambler doesn't mean all you know how to do is gambling and you can't even trade or learn to do so, having the combination of the two is not that bad, it will only widens one's scope and knowledge of doing them both, having fun in gambling and usin the experience in trading bitcoin and using the earned interest on bitcoin bitcoin to also gambles, at the last end we becomes being fulfilled by all we do, either in gambling, trading bitcoin or combining them both altogether.

You are right, in trading we have to understand techniques and also price analysis to be able to trade because without us understanding trading well and we do it based on guesswork, of course we do it the same as gambling, we need luck to be able to get a profit from our trading. do it, without luck we will continue to experience losses from the trading we do.

In short, yes, I think it can. It is very similar due to the fact that you need to make decisions based on probabilities. But everywhere we need to learn new information and improve our level, only this can lead us to success in gambling and bitcoin trading. If before this in gambling the player simply pressed one button and spun spins, then in bitcoins he will most likely press buy/sell chaotically. And if he also puts up a large leverage, then this is the same as betting the entire deposit on red in roulette.

There are even several living examples, one of them is a successful influencer who was previously very successful in poker before learning about cryptocurrencies. I am amazed by his level of knowledge and thanks to it he earned 10 times more than in poker.

I base my question about whether a gambler can become a good bitcoin trader, because both of them share one factor which is risk. A gambler is a risk taker, he stakes his money without knowing the outcome of the game that he is about to play. There is no guarantee that he will win, yet he goes ahead to play, knowing fully well that he can lose his bet. Same thing with a bitcoin trader, he goes ahead to engage in trading knowing fully well that the market can turn around  negatively for him, making him to lose his bitcoin. Yet he goes ahead to trade in the hope of making profit.

Although there are some differences between the two, like most gambling depends mainly on luck. You play and let luck decide fate of the game, that is the risk factor, because the gambler doesn't have any control or influence to determine the outcome of the bet. Also a bitcoin trader doesn't have any control or influence to determine how the market swings, he takes the risk to trade his bitcoin without knowing the outcome whether it'll be profit or lose. The diffidence between the two is that a bitcoin trader can predict the market, while a gambler can not predict the outcome of a bet, except in sports bet.

So if a gambler where to go into bitcoin trading, do you think that the experience of taking risk in gambling will be an added advantage to face the risk of bitcoin trading?

You are right, in trading we have to understand techniques and also price analysis to be able to trade because without us understanding trading well and we do it based on guesswork, of course we do it the same as gambling, we need luck to be able to get a profit from our trading. do it, without luck we will continue to experience losses from the trading we do.

I think yes because of the fact that the gambler is a risk taker himself. Some gamblers use tricks and analysis on what they are playing that is the same skills needed to become a trader. Though gambling fully rely on luck, trading will rely on luck as well but just a bit of it since 90% will be on technical analysis.