Do You Think Crypto Trading is Gambling? - page 4.

virasog

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Quote from: Wapfika on August 08, 2024, 10:05:26 AM

On the contrary, Some part of gambling like Sports betting has same information which a gambler can use as reference for their bets. Sports analysis can be compared to trading analysis since both are deriving data from the past and use it as reference for bets.

It’s not applicable on casino games like slots because it’s pure luck based games but sports betting can be view same as trading in a sense that you can analyze previous record for the future result.

Ok so you can say that sport betting and crypto trading are alike as you have some data to play with and make your trades/bets but there is a key difference between both. In betting, you will place a bet and the bet will settle as soon as the match is over. However in trading, it depends on yourself as when you will close the trade and this is more true in spot trading.
In spot trading, even if you are in loss, you can hold the trade and may only close it when you move into profits. This luxury is not available in betting and this is key difference between the two.

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Quote from: shanz on August 08, 2024, 03:56:18 AM

So, I personally think that this volatility makes crypto trading more like gambling where luck plays a key role, right? Huh

Thou Crypto trading may have similarities with Gambling, it doesn't mean they are both the same, because inasmuch as luck is one factor which plays an important role in these two phenomenon, when it comes to Crypto, we could all notice that while a trader is executing his/her trade, they can implement features such as "Stop loss and take profit" in scenerios where the market doesn't go as planned, of which such feature isn't available in gambling, whereby its either you win or you lose.
Secondly, when it comes to crypto trading, the outcome of its trade is always influence by a wide range of factors, such as Market sentiment, Global Economic News and e.t.c, unlike gambling whereby the outcome of a bet is always as a result of random agorithm. So those are the difference Gambling has against Crypto trading

retreat

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If someone is "gambling" in their trading, then it is not trading, but gambling as you said. Because basically what distinguishes gambling from trading is that when someone gambles, they tend to rely on their luck and usually it is done in a short time. While for trading, someone will use various instruments, strategies, and news, and then analyze them and use them to make a profit in the market.
So back to your topic, is crypto trading gambling? it depends on the person, whether he really has the mindset of a trader who uses strategy and analysis, or a gambler who only relies on luck. And also not all crypto is based on speculation, in memecoins it may be the case, but in popular crypto it may not be.

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Trading may have some similarities with gambling but two different things as we all know. If you lose money when you gamble, you will never get it back, and if you trade, if you lose money, you can recover it later. Accordingly, trading cannot be compared to two different things gambling, but both things have one thing in common, which is addiction. There are many people who are addicted to trading and can't quit, while we know that people who are addicted to gambling can't quit either. But two different platforms, so I think trading can never be compared with gambling.

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I think this kind of thread has been created before but I can't really figure out where it is right now, but the truth of the matter is that trading is trading and gambling is gambling. There is this thing that makes people see both as thesame, and that is profit and lose which is normal in any business. But the the difference between trading and gambling is that in gambling if you lose you lose totally but in trading when you buy bitcoin and the price dips you won't loss totally. the value will only drop but rises when bitcoin also rise. So I prefer buying bitcoin than gambling. Another advantage of buying bitcoin is that if you buy it bit by bit for a longer period, you will be able to make alot of profit but in gambling you don't accumulate rather you play once and if it loses it is lost for good .

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Trading is not not gambling because if you are an experience trader you will know how to minimize your losses and you will also have your own strategy to make profit from trading. I will not say that trading is more of luck but it is more of skills.

Gambling on the other hand is majorly based on luck and no matter how much your try, if you are not lucky, you will always run at loss. It is only inexperience traders that are gamblers because they don't understand the market or have any knowledge on trading but jump into trading.

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Quote from: Nwada001 on August 08, 2024, 04:06:24 AM

We have discussed this same topic in different ways on this same gambling board, and my own stand is that gambling and trading might have something in common, but they are totally different things.

Gambling doesn't give you room to recover your money like trading does when your portfolio reduces in value due to a price drop. In gambling, you need to put in back money in order to retry your luck and see if you can regain what you have lost in gambling.

The both do have something similar in common but i know that they are two different things. The truth is that no trader will say that they are trading on forex for fun or entertainment but we have gamblers that are says they are gambling for entertainment. However, most people takes it to be a way to get quick money that's why they do trading and gamble but the truth still remains that the both are different things.

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Quote from: summonerrk on August 08, 2024, 09:25:12 AM

What I like about trading is that the price chart represents the history of Bitcoin or another cryptocurrency, and therefore any trader has a huge ocean of information that can be analyzed to invent a trading strategy.
There is nothing like this in gambling. There is no way to know what the outcomes were before you started playing.

On the contrary, Some part of gambling like Sports betting has same information which a gambler can use as reference for their bets. Sports analysis can be compared to trading analysis since both are deriving data from the past and use it as reference for bets.

It’s not applicable on casino games like slots because it’s pure luck based games but sports betting can be view same as trading in a sense that you can analyze previous record for the future result.

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Quote from: shanz on August 08, 2024, 03:56:18 AM

In my opinion, the main similarity between gambling and crypto trading is that both involve speculation and assumptions. If you are lucky, you may double your portfolio; if you are not, you may lose your money. Basically, you are trying to predict what might happen in the future. Any trading is basically a bet on whether the crypto will go up or down Wink

-snip-

Gambling and trading are not the same, my friend, even though there are similarities. The similarity may be in terms of opportunities, but if you examine it further, it is different again because trading requires in-depth technical analysis and others. Actually, you already know where the differences are in the part I skipped.
This topic has been discussed here many times with the same question regarding the differences and similarities between trading and gambling.

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Quote from: shanz on August 08, 2024, 03:56:18 AM

So, I personally think that this volatility makes crypto trading more like gambling where luck plays a key role, right? Huh

Crypto gambling is more riskier than trading. In gambling in mainly slots, you don't have any control over the games. You just put in your money and wait for the game to play without any input. But in trading, you can do research and determine how the market might react. You can also withdraw your funds when anytime you want, but in gambling, you have to wait till the game ends. One can lose money in gambling easily and faster than in gambling. One can easily bet so many times within a minute.But the good part of gambling is that you can play games with little money and end up winning big. Volatility makes gambling similar to trading if you don't do enough research or you invest only high risked shitcoins.

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Quote from: shanz on August 08, 2024, 03:56:18 AM

In my opinion, the main similarity between gambling and crypto trading is that both involve speculation and assumptions. If you are lucky, you may double your portfolio; if you are not, you may lose your money. Basically, you are trying to predict what might happen in the future. Any trading is basically a bet on whether the crypto will go up or down Wink

As a crypto trader with years of experience, I always do deep research based on news, indicators and technical analysis. However, even after studying possible scenarios, the market sometimes moves in the opposite direction Grin

Let’s take the example of the recent Bitcoin drop, (almost) no one expected it, even the big channels… A small correction was expected. Well, some sudden political and economic news was the reason for all of that and crushed the traders’ morale that day… (Thank God the market is recovering now)
So, I personally think that this volatility makes crypto trading more like gambling where luck plays a key role, right? Huh

I share your opinion (which I expressed in previous posts) and believe that trading and gambling (at least) have a lot in common. In both cases, to obtain a positive result (profit), many factors should be taken into account, which is sometimes practically impossible and the random (unexpected) factor can ruin everything. Also, in both trading and gambling, as you said, there is a bet on a possible (future) result, that is, a bet based on a forecast (or assumption of the outcome of an event). I would call gambling and trading the same financial activity under different wrappers.

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Quote from: shanz on August 08, 2024, 03:56:18 AM

In my opinion, the main similarity between gambling and crypto trading is that both involve speculation and assumptions. If you are lucky, you may double your portfolio; if you are not, you may lose your money. Basically, you are trying to predict what might happen in the future. Any trading is basically a bet on whether the crypto will go up or down Wink

As a crypto trader with years of experience, I always do deep research based on news, indicators and technical analysis. However, even after studying possible scenarios, the market sometimes moves in the opposite direction Grin

Let’s take the example of the recent Bitcoin drop, (almost) no one expected it, even the big channels… A small correction was expected. Well, some sudden political and economic news was the reason for all of that and crushed the traders’ morale that day… (Thank God the market is recovering now)
So, I personally think that this volatility makes crypto trading more like gambling where luck plays a key role, right? Huh

While for me there's are notable similarities between gambling and crypto trading, especially in their speculative nature and unpredictable role, there are also important differences Both force future outcomes in an uncertain environment and, of course, happiness can play an important role. But experienced crypto traders rely on in-depth research, news, indicators and technical analysis to make rational decisions, which differentiates trading from gambling, where decisions often depend on risk so much more than risk management measures such as stop-loss mandates and portfolios Helpful: These are the minimum trading analysis for guidance, so that the markets can be organized in a random nature, although the trade from its length though. It turns out that overall, despite the similarities, crypto trading requires more systematic planning and risk management compared to gambling.

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Quote from: shanz on August 08, 2024, 03:56:18 AM

So, I personally think that this volatility makes crypto trading more like gambling where luck plays a key role, right? Huh

Yes, crypto trading is purely gambling on short run. Nobody could explain why Bitcoin crashed days ago. It wasn't predictable, there aren't strong arguments and as consequence we had a high level of fear and uncertainity among investors, who got rid of their holdings because they couldn't hold the anxiety and stress caused by the volatility and insecurity of crypto market. People may say Bitcoin crashed for this or that, but in the end, they wouldn't be saying such reasons would impact Bitcoin negatively, if the price didn't fall.

It's much better to be a holder than a trader. Actually, they are similar, the difference is that a holder will trade less often, only on long term. In compensation, he won't be gambling with his funds, because on long run you can draw consistent analysis regards crypto market and especially Bitcoin. I advise everyone to stop day trading and to focus their efforts on solid gains which can be achieved by holding for long periods of time.

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You can says that crypto trading is gambling based on what you say but if you trades without have a knowledge about trading, that will be the same as gambling. You just depends on your luck to make a profit so you keeps trying to trade and hopes you can makes that profit. If you can analyzes the market moves, you will see that you can make a profit based on the market moves and predicts when you can enters to the market and close your trades.

A crypto trading is difficult to knows when is up and down and even if you have a good skills in analyzing, you will still difficult to finds where the market will moves. Maybe that is a gambling for you but for me, trading is not a gambling especially if you have skills and knowledge and even if trading is gambling, that will be no problem especially if you can risks your money to use to trade.

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What I like about trading is that the price chart represents the history of Bitcoin or another cryptocurrency, and therefore any trader has a huge ocean of information that can be analyzed to invent a trading strategy.
There is nothing like this in gambling. There is no way to know what the outcomes were before you started playing.

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Quote from: shanz on August 08, 2024, 03:56:18 AM

So, I personally think that this volatility makes crypto trading more like gambling where luck plays a key role, right? Huh

You have to be both to be able to tell the difference. You have to be a trader and a gambler. Once you understand enough, you will know where the difference between trading and gambling really lies.
I don't know how many times this topic has been discussed. But I'm sure more than two threads are discussing the same topic like this. People who can't tell the difference between trading and gambling. They must be new to both. They haven't really traded or gambled.

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Quote from: shanz on August 08, 2024, 03:56:18 AM

So, I personally think that this volatility makes crypto trading more like gambling where luck plays a key role, right? Huh

we've talked about this multiple of times both at the trading section of the forum and even in this board. Although trading and gambling are based on some level of luck and in some way involves the trader or gambler doing analyssis of the market or bet, trading isn't entirely gambling. you could study trading and become experienced at it to the point where losses are minimal but that's not the same case with gambling. The kind of knowledge, experience and research most active traders do, gambling don't do half of it and you can't come into trading with a shallow knowledge of the industry and a little finance and expect to do well unlike gambling that anyone can just start gambling today and might even win a jackpot the same day.

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Quote from: shanz on August 08, 2024, 03:56:18 AM

So, I personally think that this volatility makes crypto trading more like gambling where luck plays a key role, right? Huh

I'm not a full-time trader, but I have many friends who are, and they told me that even if you do your analysis, it's not yet a guarantee that you can make a profit. What makes gambling and trading very similar is the advice that you should not use money that you cannot afford to lose.

The cryptocurrency market is very volatile. Just when you expect to make a profit, the unexpected happens. Your losses are greater in gambling than in trading. In trading, you can always cut your losses, something you cannot always do in gambling.

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You claim to have been a trader for years but ultimately conclude it as gambling? It seems that you missed a lot of things if you come to that conclusion. It is useless to study the technical, method, research if the conclusion can be done by everyone in terms of profit and loss, of course you can minimize it much better than those who only rely on speculation alone.

If we talk about whether there are similarities? maybe there are but the level of similarity between gambling and trading is not as big as the difference. It all depends on how you position yourself on the traded asset, not in terms of volatility, all assets have volatility and since you entered crypto trading you should have known the risks.

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If you are risking money, you are gambling. It's not the same as going to a casino, but it is still gambling. You are taking a chance on what you might feel is a sure thing and make some money, but you forget there is no such thing as a sure thing. Something can always go wrong.

With that being said, there is some serious money to be made in trading, but don't just think you're going to jump in and make millions. You have to educate yourself on how it all works and make the correct moves, otherwise welcome to brokeville.

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