Gambling is like day trading ? - page 13.

Botnake

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Quote from: Lucasgabd on April 05, 2020, 06:49:25 AM

Quote from: Genemind on April 05, 2020, 06:15:38 AM

The similarity of it implies on risk. The reason why people risk their money in gambling is because of the massive return it gives the higher the risk is. On the other hand, market volatility makes trading risky and profitable.

definitely!
and risk management is key even if you're not trading, only gambling

imho this is one of the best crypto articles on risk management
https://medium.com/@Cryptilicious/risk-management-for-trading-8608d813872d

really important concept for gambling, trading and for life.

Interesting article, well, for me, the first thing every gambler or trader must know is the risk, if they are aware of the risk and they pursue that means they understand how to manage it. We can think of the reward as well but we should not think that we can get the reward overnight as no trader or gambler that are successful overnight, except for those who are extremely lucky and they win a jackpot.

What we are talking here is the consistency, and we need to achieve that if we want to be successful.

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Quote from: Genemind on April 05, 2020, 06:15:38 AM

The similarity of it implies on risk. The reason why people risk their money in gambling is because of the massive return it gives the higher the risk is. On the other hand, market volatility makes trading risky and profitable.

definitely!
and risk management is key even if you're not trading, only gambling

imho this is one of the best crypto articles on risk management
https://medium.com/@Cryptilicious/risk-management-for-trading-8608d813872d

really important concept for gambling, trading and for life.

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Quote from: pakhitheboss on April 04, 2020, 08:13:48 PM

Day trading is a skill based profession, where in you need to learn first and then implement it. Although there is no guarantee that you will earn straight away but as more you test your strategy the more you will have the experience and skill to make good money. Experienced day traders can earn upto 5k in a single intraday trade. There are lot of books inthe market to teach anyone bout day trading . Here is list of best day trading books for begginers

Gambling on the other hand does not involve 100 percent skills. To become a good gambler you do need 50 percent luck and 50 percent skills. Through experience you cannot guaranteely make money. The chance of losing is pretty high because of the house edge.

Day trading doesn't include a 100% chance of earning everyday though. With skills, yes, a person has higher chances of actually earning something out of trading, but it isn't a guarantee that they'd actually earn something 100%. Day trading is a mix of skills and luck, because any change that is favorable to the position you made for that day could potentially be a profit or a loss. It's close to a 50-50, but with skills, you can understand the market beforehand and possibly, I repeat, only possibly, increase the chances of actually profiting.

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The similarity of it implies on risk. The reason why people risk their money in gambling is because of the massive return it gives the higher the risk is. On the other hand, market volatility makes trading risky and profitable.

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Quote from: Polar91 on April 05, 2020, 02:53:41 AM

Definitely not. The way how they work is different from one another. If you'll understand the principle of gambling, it's pure luck based. Thus, there is really no professional here. You can't help yourself from losing in gambling if your luck isn't favorable of you but to stop. Meanwhile in day trading, you might lose continuously but you can be professional there with decent experiences and knowledges of course.

This is the right definition of day trading in its sense. When you are a gambler for 40 years all of your winnings are coming from your own luck, not your skills. Whenever you put your money on the table, you only waiting for the unknown results. Whether you win or lose, it's all about luck. On the other hand, Day trading will give you tremendous experiences in the long run which will become a skill after so many day trading you had through the years.

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Quote from: pakhitheboss on April 04, 2020, 08:13:48 PM

Day trading is a skill based profession, where in you need to learn first and then implement it. Although there is no guarantee that you will earn straight away but as more you test your strategy the more you will have the experience and skill to make good money. Experienced day traders can earn upto 5k in a single intraday trade. There are lot of books inthe market to teach anyone bout day trading . Here is list of best day trading books for begginers

Gambling on the other hand does not involve 100 percent skills. To become a good gambler you do need 50 percent luck and 50 percent skills. Through experience you cannot guaranteely make money. The chance of losing is pretty high because of the house edge.

It's contradictory with what I've heard.

In trading, I've heard good traders say that luck is also included as they trade and for experienced gamblers, it's not always luck but being skilled is also needed.

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Sort of, but if I would choose from the two, maybe I prefer Day trading with big capital, of course, doing day trading with small capital will do nothing, you will lose on fees. Why I prefer day trading because most of the gambling games are purely based on luck unlike trading there are some charts that can help you with your decisions on gambling you just need to bet or guess and it is done and wait for the result.

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Quote from: Japinat on April 05, 2020, 03:30:46 AM

Quote from: Polar91 on April 05, 2020, 02:53:41 AM

Thus, there is really no professional here. You can't help yourself from losing in gambling if your luck isn't favorable of you but to stop. Meanwhile in day trading, you might lose continuously but you can be professional there with decent experiences and knowledges of course.

Everyone has different belief, some would say no professional gamble but some would believe there is because they themselves are professional gambler.

Because what do we mean exactly by "professional"? Is it because we are on it full time? Or is it probably because we are earning only from it? Or because we have undergone some kind of training or course for it? What we call "professional" is rather hazy and could mean different things.

There are indeed professional gamblers if we consider the factor of income source or full time dedication and focus just like there are also professionals in trading.

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Quote from: Maslate on April 04, 2020, 04:49:05 AM

Quote from: Betwrong on April 04, 2020, 04:36:09 AM

Right, and that's what makes day trading to look very similar to gambling. I wouldn't go so far to say that day trading is purely luck based, so it's not like dice or slots. But compared to poker (real poker, not video poker) and sports betting, it's pretty much the same. You can apply some skills, but luck plays a huge role still.

You are right, however if for me and I have to choose between the two, I think I'll choose sports betting as day trading is very stressful, the market is 24 hours, that will attract you to trade more, unlike in sports betting that you just have to focus on a certain game, and even with the small number of hours, you can get the job done already and rest for the rest of the day.

I'm not saying day trading is bad, this is just me, I'm saying based on my experience and that is my preference here.

I'm no trader either. You choose sports betting, I choose poker to have fun with. I don't want to live the stressful life that day traders have 24/7. But it's me, maybe for someone day trading is as much fun as poker for me, idk. In fact, I respect day traders because they are real hard workers and they can do something which I cannot do.

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Quote from: Polar91 on April 05, 2020, 02:53:41 AM

Quote from: philanthropist67 on March 16, 2020, 05:28:18 AM

We know that day trading or short time trading is like playing with wild fire, not may can handle it. That's y most player's end up in loss and very few are successful day traders.
Is that hold true for gambling also?

Definitely not. The way how they work is different from one another. If you'll understand the principle of gambling, it's pure luck based.

I would not agree with that principle, how can it be pure luck when some people are winning using their skills?
If it's a pure luck, people would not risk their money because in the end its the gambling sites that would just win since they have an edge.
Sports gambling is the biggest, there are bettors who bet on millions not because they believe they are lucky but because they believe they got skills.

Quote from: Polar91 on April 05, 2020, 02:53:41 AM

Thus, there is really no professional here. You can't help yourself from losing in gambling if your luck isn't favorable of you but to stop. Meanwhile in day trading, you might lose continuously but you can be professional there with decent experiences and knowledges of course.

Everyone has different belief, some would say no professional gamble but some would believe there is because they themselves are professional gambler.

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Quote from: philanthropist67 on March 16, 2020, 05:28:18 AM

We know that day trading or short time trading is like playing with wild fire, not may can handle it. That's y most player's end up in loss and very few are successful day traders.
Is that hold true for gambling also?

Definitely not. The way how they work is different from one another. If you'll understand the principle of gambling, it's pure luck based. Thus, there is really no professional here. You can't help yourself from losing in gambling if your luck isn't favorable of you but to stop. Meanwhile in day trading, you might lose continuously but you can be professional there with decent experiences and knowledges of course.

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Quote from: Saint-loup on April 03, 2020, 04:20:56 PM

Quote from: Naida_BR on April 03, 2020, 12:35:42 PM

Quote from: Vaculin on April 03, 2020, 02:56:46 AM

Quote from: noorman0 on April 03, 2020, 12:44:24 AM

"Trading for profit, gambling for luck."

I could not agree with this, this kind of belief is only for those who does not really know the potential on how to make money in gambling.
Gambling for majority maybe a game of luck, but we can't deny that there are people who make money in gambling because of their skills, example are the poker players and the sports bettors, I am talking of the successful ones.

There are many games that rely on luck.
It depends on what kind of gambler you are - if you try to play card games that require skills then you should not agree to this statement.
I believe that gambling is luck on specific games, not in all kind of games.

Yes but in all kind of games and even (mostly) in trading there is a part of luck.
So even with strong skills you can lose and even with weak skills you can win. It's unfair but chance is unfair Undecided

Nothing is fair in gambling and trading. You may won or lose in both of them. These days trading is also very uncertain because mostly it is controlled by the manipulators. No matter how good you are in Technical analysis, you can't be sure for bitcoin next moves. Day trading is very difficult and is same risky as gambling.

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Quote from: ChiBitCTy on April 02, 2020, 11:30:27 AM

Gambling is NOTHING like day trading. As an investment advisor by trade, I am quite versed on the topic. The vast majority of people should first off not be day trading. Trading takes a lot of time, skill and research to be able to know how to do so correctly. I'd say 98% of investors should not be day trading. Day trading involves actual companies and not just a game of mostly luck. Stocks are backed by businesses and often when trading it's not an all or nothing scenario as is most often the case with gambling. Gambling often takes no skill at all or even any need for research. Both are something to consider heavily before doing so, making sure that you're willing to lose it all in both cases is a big part of it. Some similarities do exist, but for the most part they're very different.

I agree with you on most part but look if I am being honest and let's talk about crypto trading and we all know how unpredictable it is so it is not completely wrong to compare gambling with day trading because recently we saw how a plus token scam took bitcoins to cleaners and similarly you expect in gambling that a particular event will occur but sometimes things go absolutely opposite.

I mean yes although with trading you can use skills and compare charts but trust me I have been into trading as well with crypto and it is not as easy as it might seem and I respect since you are a adviser and any statement you make is worth it but I am just sharing my own opinion that in certain areas gambling and trading are similar maybe only if someone is as experienced and skilled as you then they can make correct calls.

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Day trading is a skill based profession, where in you need to learn first and then implement it. Although there is no guarantee that you will earn straight away but as more you test your strategy the more you will have the experience and skill to make good money. Experienced day traders can earn upto 5k in a single intraday trade. There are lot of books inthe market to teach anyone bout day trading . Here is list of best day trading books for begginers

Gambling on the other hand does not involve 100 percent skills. To become a good gambler you do need 50 percent luck and 50 percent skills. Through experience you cannot guaranteely make money. The chance of losing is pretty high because of the house edge.

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Quote from: Savemore on April 04, 2020, 07:54:32 PM

For those who will start day trading and they are still beginners in the market then it will be a disaster because they cannot handle the volatility of the cryptocurrencies. Day trading is like a gambling for those people who will yet to start because they still do not what they will do and it is like a gambking that putting their decisions base on their instincts and relying to their trusts.

Well, if that is the case where people will be going into day trading and they are just beginners, then that is not a gamble, it is a suicide mission. At least when you are gambling, you know what you will be doing but in terms of day trading with this volatility, it is just impossible. Just try to educate yourself first before you go into something since it is always good for people to be ready in some way rather than pushing your self into something you don't even know what it is.

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For those who will start day trading and they are still beginners in the market then it will be a disaster because they cannot handle the volatility of the cryptocurrencies. Day trading is like a gambling for those people who will yet to start because they still do not what they will do and it is like a gambking that putting their decisions base on their instincts and relying to their trusts.

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Quote from: Lhaine on April 04, 2020, 09:02:32 AM

Quote from: Maslate on April 04, 2020, 04:49:05 AM

Quote from: Betwrong on April 04, 2020, 04:36:09 AM

Right, and that's what makes day trading to look very similar to gambling. I wouldn't go so far to say that day trading is purely luck based, so it's not like dice or slots. But compared to poker (real poker, not video poker) and sports betting, it's pretty much the same. You can apply some skills, but luck plays a huge role still.

You are right, however if for me and I have to choose between the two, I think I'll choose sports betting as day trading is very stressful, the market is 24 hours, that will attract you to trade more, unlike in sports betting that you just have to focus on a certain game, and even with the small number of hours, you can get the job done already and rest for the rest of the day.

I'm not saying day trading is bad, this is just me, I'm saying based on my experience and that is my preference here.

That day trading is too difficult for other people not all people have a good skills in trading unlike sports bet . you just need to know who will play and you can now predict who will in that game . Your prediction some times is not accurate to what will happen how ever if you watch all thier game play in both side you can see whos in both player team have chance to win .

Gambling is not also for all people because there is a required skills in this area. Both gambling and trading have specific skills in order to win, a trader or a gambler should have high risk appetite in order to easily manage the risks and to have control to his/her decision. Both dy trading ans gambling are difficult but if we focus on developing our skills then it can be easy for us to gain profit from both.

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Quote from: Lhaine on April 04, 2020, 09:02:32 AM

Quote from: Maslate on April 04, 2020, 04:49:05 AM

Quote from: Betwrong on April 04, 2020, 04:36:09 AM

Right, and that's what makes day trading to look very similar to gambling. I wouldn't go so far to say that day trading is purely luck based, so it's not like dice or slots. But compared to poker (real poker, not video poker) and sports betting, it's pretty much the same. You can apply some skills, but luck plays a huge role still.

You are right, however if for me and I have to choose between the two, I think I'll choose sports betting as day trading is very stressful, the market is 24 hours, that will attract you to trade more, unlike in sports betting that you just have to focus on a certain game, and even with the small number of hours, you can get the job done already and rest for the rest of the day.

I'm not saying day trading is bad, this is just me, I'm saying based on my experience and that is my preference here.

That day trading is too difficult for other people not all people have a good skills in trading unlike sports bet . you just need to know who will play and you can now predict who will in that game . Your prediction some times is not accurate to what will happen how ever if you watch all thier game play in both side you can see whos in both player team have chance to win .

One of the easiest ways to bet if you want to earn a huge profit is the sports betting if you are active about sports and also e-sports because it is easier to research about the sports because there is a lot of websites supports the analysis on it like in basketball you can see the stats on the nba official website also you can make a background check on the esports on gosugamers because most of the time it has an updated status on the recent games and matches on it also you can wage a lot of you are confident enough to make more earnings on it still the game is on the hand of players because some of them are not on the condition well and may cause of throwing the games.

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Quote from: Maslate on April 04, 2020, 04:49:05 AM

Quote from: Betwrong on April 04, 2020, 04:36:09 AM

Right, and that's what makes day trading to look very similar to gambling. I wouldn't go so far to say that day trading is purely luck based, so it's not like dice or slots. But compared to poker (real poker, not video poker) and sports betting, it's pretty much the same. You can apply some skills, but luck plays a huge role still.

You are right, however if for me and I have to choose between the two, I think I'll choose sports betting as day trading is very stressful, the market is 24 hours, that will attract you to trade more, unlike in sports betting that you just have to focus on a certain game, and even with the small number of hours, you can get the job done already and rest for the rest of the day.

I'm not saying day trading is bad, this is just me, I'm saying based on my experience and that is my preference here.

That day trading is too difficult for other people not all people have a good skills in trading unlike sports bet . you just need to know who will play and you can now predict who will in that game . Your prediction some times is not accurate to what will happen how ever if you watch all thier game play in both side you can see whos in both player team have chance to win .

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Quote from: Betwrong on April 04, 2020, 04:36:09 AM

Quote from: KTChampions on March 28, 2020, 03:04:16 PM

Quote from: adzino on March 28, 2020, 09:44:02 AM

Please stop comparing gambling with trading. Gambling with cryptocurrencies and trading are not the same at all. Gambling is all about luck. If you get luck, you win. If you are unlucky you lose everything. There is nothing you have to "think" about since the outcome of your results are always random. Logic does not work/change your outcome when gambling. But trading does depend on logic. You have to think a lot before you make your next move. The outcomes are not random and you have more control over your investment when compared to gambling.

No matter how much you think before the next move, this is a random process for you, since you do not have an insider and cannot predict the influence of all factors on the price (even if you know all of them). You should think by yourself of such a paradox: if you could logically calculate the “right” next move, then everyone would do it. But in reality, no one can predict (statistically significant) price fluctuations over a short period of time.

Right, and that's what makes day trading to look very similar to gambling. I wouldn't go so far to say that day trading is purely luck based, so it's not like dice or slots. But compared to poker (real poker, not video poker) and sports betting, it's pretty much the same. You can apply some skills, but luck plays a huge role still.

That's why we should be very careful with the day trading and Gambling because both are indicating luck-based. People who have experienced towards chart will make money, but that analyzing part will be considered based on the experience. I hope gambling is completely based on pure luck.

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