Gambling is different from trading - page 7.

Distinctin

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Quote from: Fivestar4everMVP on June 10, 2023, 09:12:47 AM

Well, there was never a time gambling was the same as trading, even though they have some similarities, gambling is gambling while trading is trading, like op said, gambling is more of a luck based activity, though part of gambling like sports betting, is more of information (what you know about a team or player/fighter) based, games like poker, and other card games is also skill based as well as luck, trading on the other hand is purely skill based, though we still can not over rule the fact the luck still plays an important role in trading as well, for example, it takes luck to buy a coin, and it pumps x500, x1000 or even more after you have bought it, it's not like you knew that such was going to happen, luck helped the trader buy that coin or token.

So overall, gambling or trading, both are good ways of making, how you prepare yourself, and go about your trading activity or gambling activity will determine how much you will make or lose from either of the two.

You’re right in here. Regardless if it’s gambling or trading, as long as you know exactly what you are doing and you are doing in align with your financial goal, then you will eventually make profits and become financially independent. But if your goal is to make instant money without learning to be knowledgeable and skillful at first, that is totally a gambling point of view, you will only make money at first but eventually lose them all in the end because that’s how gambling is designed in the first place. However, with trading, yes there maybe inevitable losses at some point but if you are a good and successful trader, you will know how to control and limit your losses and maximize making profits at the end of the day.

irhact

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Quote from: Promocodeudo on June 10, 2023, 07:43:49 AM

I was doing a comparison between gambling and trading I find out that their is merging between trading and gambling, I want to explain the categories of trading and gambling from my research gambling don't have to do with skills, but people prefer gambling than trading, but I kicked against gambling because it does not have control that leads to victory during time of diecasting your prediction in gambling therefore I concluded that gambling have to do with luck.

So I prefer trading more than gambling because it is a skill and it can be controlled.

Gambling also have skilled games that if you study the game properly, you can have a higher chance of winning than losing. Sport betting like football are skilled gambling and can be replicated by several individuals. Gambling mostly has luck inside and that's the main difference it has from trading in my opinion. Gambling is addictive and that's why I don't like it and won't choose it over trading.

When trading I can be in control but when gambling I'm not in control of the outcome of the results which is why many people fail not minding the experience they have in gambling but an experience trading will always beat the market and profit from their trades.

wajik-tempe

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You correctly point out that gambling is primarily dependent on chance rather than talent.Gambling forecasts do not allow for revisions or corrections, making it a dangerous venture. It's worth noting that, despite the inherent risks and possible losses connected with both gambling and trading, consumers appear to prefer gambling. This choice may be due to a variety of variables, including the appeal of rapid satisfaction, the thrill of uncertainty, or the mistaken belief that gambling provides larger financial advantages.

Issa56

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Quote from: Promocodeudo on June 10, 2023, 07:43:49 AM

but people prefer gambling than trading,

How sure are you that people prefer gambling than trading? Did you conduct any research that shows that people prefer gambling than trading? The only thing I can say is that gamblers are more rampant than trader's, more people knows about gambling than trading, like in my society, just few percentage of people know about trading, but you can see gambling shops everywhere where you can easily gamble.

Quote from: Promocodeudo on June 10, 2023, 07:43:49 AM

but I kicked against gambling because it does not have control that leads to victory during time of diecasting your prediction in gambling therefore I concluded that gambling have to do with luck.

I gamble and I also trade and I am not against the two, people are making money from both trading and gambling, and I can't say gambling is all about luck alone, you have to be skilled also when gambling, you have to do some analysis also when gambling, you can't just start gambling without doing some analysis.

Quote from: Promocodeudo on June 10, 2023, 07:43:49 AM

I notice that people do not put their money much in gambling than trading whereas the risk and loss is more efficient in gambling than trading.

Maybe you have not seen a addicted gambler, then you will realize that people also put much money in gambling, a addicted gambler can put any amount in his gambling account just to gamble, It will be difficult to see people selling their properties just to trade, but you will see gamblers selling their properties just because they want to gamble.

palle11

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Quote from: GreatArkansas on June 11, 2023, 06:58:25 AM

While gambling, most gamblings are pure luck.

Gambling is purely luck game. I remember yesterday's champion's league final between Manchester city and Intermilan, most bettors where all out for Manchester city to win and undermining Intermilan team but the game wasn't that easy for man city to carry the game and it took alot of effort from them to get a decisive goal around 68 minutes. My point is inter had some bettors that still believed that by any other means some upset can happen and that is the luck in gambling. As they say in football, anything can happen but in trading most times you can trade using the charts, indicators and you can reduce your losses by using good money management and stop loss.

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Quote from: Ziskinberg on June 10, 2023, 11:09:44 PM

This is my opinion about the two...
Gambling - doesn't require skill but seems to be needed and much more relies on luck. The more spend time in gambling the more it leads to addiction and the chances are; more losses, less winning.

In Trading - we don't rely on luck but skill and knowledge are necessary. And the more we spend learning about trading, the more chances to earn more.

But seems you're right that many people are preferred to gamble because of thinking about instant rich. Well, that was their choice but seems not the right one as we can't just rely on our future in luck.

Skills in gambling is needed if you are playing Sports Betting and some casino games like Poker and Blackjack. The rest just relies on luck. The more time spend in gambling can also be beneficial because we can learn a skill and we can enhance it. There are well-skilled gamblers who have a long-term experience but they are not an addict. It's only about how we control our selves.

Now in trading, I think it sometimes needs a luck because of the unpredictable nature of the market. The more time we spend in trading the more we master it but it does not mean that people will now stick on it and will not play gambling anymore. Trading was still hard and not fun even if you are already good at it.

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Trading and gambling are different, but they also share some similarities. Both can be risky and addictive, and if one lacks control or wisdom they can quickly deplete your finances. However, I believe that trading is generally superior/better to gambling, as it can be less risky at times. Nevertheless, it's important to note that a single mistake in trading can result in huge losses that may be difficult to recover from.

While gambling heavily relies on luck, trading also involves an element of luck. However, is that trading is a skill and also it allows you to implement stop-loss strategies at any time. In my opinion, this aspect makes trading a more favorable option compared to gambling.

Quote from: Promocodeudo on June 10, 2023, 07:43:49 AM

When we study trading very well there is no way we can trade in a month without making profit and as a beginner in trading we don't need to start trading with money that we can not afford to loss, while in gambling so many people gamble with their salary and last money.

Here we are talking about self-control tho. If you're a gambler or a trader you must set a limit on the amount of money you can use per week and not exceed it, no matter what.

GreatArkansas

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Most are correct about both involve risk. I agree with it too.
But on trading, you can make the risk lesser while maximizing the profits, there are a lot of ways to do it. Most are risk management. While gambling, most gamblings are pure luck.

For me, gambling can be a thrilling and enjoyable pastime. While trading can be considered as profitable activity or source of income for some people.

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Quote from: Promocodeudo on June 10, 2023, 07:43:49 AM

I was doing a comparison between gambling and trading I find out that their is merging between trading and gambling, I want to explain the categories of trading and gambling from my research gambling don't have to do with skills, but people prefer gambling than trading, but I kicked against gambling because it does not have control that leads to victory during time of diecasting your prediction in gambling therefore I concluded that gambling have to do with luck.

While trading is a skill that you will learn and understand the basic factors that can hinder your trading not to be successful, a trader can notice it's mistakes after loss and make corrections while a gambler mistakes can't be corrected because it deals with prediction. I notice that people do not put their money much in gambling than trading whereas the risk and loss is more efficient in gambling than trading. When we study trading very well there is no way we can trade in a month without making profit and as a beginner in trading we don't need to start trading with money that we can not afford to loss, while in gambling so many people gamble with their salary and last money. So I prefer trading more than gambling because it is a skill and it can be controlled.

Sure, trading is not gambling, but it becomes gambling if you trade without knowledge. Both involve risk and return, so it is understandable that many people confuse both with gambling, but anyone observant will know they are 2 and different.
In trading, we can make a profit passively by cultivating our knowledge, honing our skills, and gaining experience over time. We can master the game if we have all the necessary elements. But in gambling, winning and losing are all decided by chance, we will not be able to control or determine our fate.

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Quote from: Promocodeudo on June 10, 2023, 07:43:49 AM

I was doing a comparison between gambling and trading I find out that their is merging between trading and gambling, I want to explain the categories of trading and gambling from my research gambling don't have to do with skills, but people prefer gambling than trading, but I kicked against gambling because it does not have control that leads to victory during time of diecasting your prediction in gambling therefore I concluded that gambling have to do with luck.

While trading is a skill that you will learn and understand the basic factors that can hinder your trading not to be successful, a trader can notice it's mistakes after loss and make corrections while a gambler mistakes can't be corrected because it deals with prediction. I notice that people do not put their money much in gambling than trading whereas the risk and loss is more efficient in gambling than trading. When we study trading very well there is no way we can trade in a month without making profit and as a beginner in trading we don't need to start trading with money that we can not afford to loss, while in gambling so many people gamble with their salary and last money. So I prefer trading more than gambling because it is a skill and it can be controlled.

Gambling and trading are two different things but they also share some similarities. Gambling and Trading both possesses some level of risk but one is bigger than the other, they also skilled as similarities, they have money involved and the profits in the two are similar but the difference they share are not the same; like in gambling, when you lost, that is all for that bet but in trading, if you do a normal trading and lost, you will still have your loss because it is unrealized loss, you will only loss when you sell the trade and when it comes to emotion, I think it is easier to control trading than gambling because gambling comes with addiction if care is not taken.

Eternad

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Quote from: Promocodeudo on June 10, 2023, 07:43:49 AM

While trading is a skill that you will learn and understand the basic factors that can hinder your trading not to be successful, a trader can notice it's mistakes after loss and make corrections while a gambler mistakes can't be corrected because it deals with prediction.

Your analysis of the difference between trading and gambling is on point especially the sentence above. It's simple but meaningful, On gambling you don't have a chance to evaluate your next move since the result is purely based on luck while you can adjust your strategy based on the market condition on trading.

I will add this important info that you forgot. In trading especially spot trading. All loses is just paper loss unless you sold your holdings which means you have a lot of time to recover using same money unlike gambling that you can't recover your losses using your original funds unless you deposit more.

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Quote from: Ziskinberg on June 10, 2023, 11:09:44 PM

This is my opinion about the two...
Gambling - doesn't require skill but seems to be needed and much more relies on luck.

The games in gambling have been differentiated into two types, the types based on luck and the type based on skill. But in that Gambling on games that are based on skills and trading which is still based on skills, there is a difference. The chances of becoming a better trader and profiting increases directly with how skillful you become. But in gambling even on skill based games, you can will better with how skillful you become, but still not as compared with trading where there is more certainty of profiting better with your skills. In skill gambling games, your chances are average even with your skill.

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Gambling is a platform where people bet to win where losses are mostly faced. But there are not so many ricks in trading, most of the time you can expect profit by trading. It is possible to be successful in trading futures but never in gambling. The future of those who are addicted to gambling is not so good. Few people can benefit from gambling. Most of the gamblers lose by placing bets so they decide to borrow money from different places and start betting again. This puts a lot of stress on their future and those who are addicted to this betting cannot move forward in the future. I always give more priority to trading because there is never so much risk of money in trading.So it is possible to make better predictions in trading than gambling.

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Quote from: bittraffic on June 10, 2023, 08:47:48 AM

Luck will have lesser influence the longer you are in trading. You keep learning the skills you have and you already know when to buy and sell.

Trading is like buy and sell business thats not quite a gambling scheme but it may just be when you turn to binary trading. Binary though does have a limited wining.

That is one of the main differences between trading and gambling, when it comes to gambling the more you do it the more influence luck has over your results, however in trading we see the opposite, as the longer you trade with a successful strategy the lesser the effects of luck on your outcomes.

Even then the effects of luck will never be completely eliminated when you trade, and the lesser your level of skill the more trading will resemble gambling, which let us understand why some people think of them as if they are the very same thing.

Ziskinberg

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This is my opinion about the two...
Gambling - doesn't require skill but seems to be needed and much more relies on luck. The more spend time in gambling the more it leads to addiction and the chances are; more losses, less winning.

In Trading - we don't rely on luck but skill and knowledge are necessary. And the more we spend learning about trading, the more chances to earn more.

But seems you're right that many people are preferred to gamble because of thinking about instant rich. Well, that was their choice but seems not the right one as we can't just rely on our future in luck.

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Quote from: crwth on June 10, 2023, 11:40:57 AM

You also don't have control in trading over what the outcome could be. It's always going to be according to luck, and according to your decision, you will know what would be the best thing. I think you could prepare a lot of things when trading, but in gambling, you just have to play, making it possible to play and not think so much.

I disagree that we don't have any control in trading, about the outcome, we can predict it depending on the information we gather before hand and the analysis as we all know is dependent on the price movement of the market. We have more information to use in order to predict the outcome of our trade while in gambling, we only rely on the randomness of the result praying that we guess the right one.

So to say, trading result is dependent on our analysis and study of the market while gambling is all about the chance to bet on the right outcome of the game.

jeraldskie11

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Gambling is a game of chance with no guarantee of profit, but fortunately, there are some who profit from it. In trading, if you have no idea what you're doing and then enter into a deal without a plan, this is referred to as gambling because this method of trading is extremely dangerous. When trading, make sure you have a trading plan that has been backtested to boost your chances of succeeding and could be your source of income in the future. There are 90% of traders who fail due to a lack of understanding, and we should not be one of them.

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One of the popularity between trading and gambling is that their both are addictive and high risk and both can ruin your life at the same time, so what is the best practice to avoid a total destruction of your mental balance as a leader or a gambler, the answer is to have discipline mindset that will help you to make better decision and minimize your risk, this way even if the outcome of the trade or bet. Doenst go your way it effect on your mental balance won't be significantly noticed.

Cling18

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They are actually both risky but doing gambling mostly relies on luck. Compared to trading, knowledge, and strategies aren't always applicable in gambling. In trading, we can learn and study everything and apply what we have learned as we figure out our mistakes from our past experiences but in gambling, recovering our losses is more challenging.
In trading, we don't rely too much on luck but on our deep understanding of dealing with market changes. We only have to deal with the market's volatility. It only requires time for us to understand and study everything unlike in gambling which we need to take the risk and face the possibility of losing easily. However, both risks could be handled if we know how to handle our emotions since both journeys could provide us with a roller coaster-like ride.

goaldigger

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Different in nature but have some similarity especially in trading.
If you do trade by guess only then many consider that as gambling. Though Its hard to compare gambling itself to trading since in gambling even if you do analyze the whole system on gambling there’s still no guarantee that you will win. Trading become more of a gambling if you continue doing it without any knowledge about it and in some areas of our lives, you can consider some as gambling and that is part already of our everyday lives.

Topic: Gambling is different from trading - page 7. (Read 978 times)