Gambling is like day trading ? - page 14.

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Quote from: Betwrong on April 04, 2020, 05:36:09 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.

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

Quote from: adzino on March 28, 2020, 10:44:02 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.

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Quote from: finaleshot2016 on April 03, 2020, 05:42:03 PM

My thoughts regarding this enlightened when I created my own thread about gambling is similar to trading.

You are talking about this thread https://bitcointalksearch.org/topic/risk-vs-gambling-5237701 ?
Why it has been closed only few hours after its opening? Did you close it yourself or it has been closed by a moderator?

finaleshot2016

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My thoughts regarding this enlightened when I created my own thread about gambling is similar to trading. Since gambling and trading have both risks, then we can conclude that they are similar to each other. Risks always have a basis on what they're trying to predict, prediction can be applied to gambling and trading even different kinds of analysis so definitely, you're trading every day without knowing if you'll get a win or lose situation.

But some other gambling games aren't really similar to trading because it only requires luck.

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Quote from: Naida_BR on April 03, 2020, 01:35:42 PM

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

Quote from: noorman0 on April 03, 2020, 01:44:24 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

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

Quote from: noorman0 on April 03, 2020, 01:44:24 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.

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

Quote from: noorman0 on April 03, 2020, 01:44:24 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.

Yeah right, there are people out there who manage to win from this kinds of gambling, they are well organized and have the capabilities to manage
every single information to use for their favors. This kind of wise gamblers are not so many those are not relying with their luck but with their skills
sorting the right games and the right timing.

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Quote from: geegaw on April 03, 2020, 09:50:40 AM

Quote from: MCobian on April 02, 2020, 02:38:12 PM

In my opinion gambling and day trading are not the same, because day trading is much less risky than gambling. If we play
gambling winning percentage is around 50%, but the fact is if we play gambling more experience defeat. While day trading
percentage gets a profit of around 80%, if we have the ability to read market prices. So, the conclusion gambling cannot be
used as a source of income, while day trading can be used as a source of income. And according to data i read in the article
the number of people who are successful in day trading more than people who are successful in gambling.

You have some exact points and some need editing, day trading or trading in general, when compared directly to gambling, the safety is actually higher when we can decide the winning or losing rate based on the observation and evaluation in the market. While gambling has a nearly complete chance of losing, it cannot reach 50% as you say, casinos always create fake rates to cheat us, the analogy between gambling and trading is the bet to win but gambling is a business place to generate revenue for its owners, trading is a marketplace for traders to make money on their analytics.

We have different perspective how can we earn more profit and some of us are trying to deal with the daily trading by that all you need is the knowledge about the market movement and also there is a chance of you will get a profit but we cannot tell how much on it because it is a single movement in the market there is a chance to increase or decrease your market income also in gambling it is good too because if you are skilled and got a lot of experience enough to play gamble games it is good because there is a higher probability to make more earnings because you are confident enough to make more profit both of them are a risk but it depends on you where you think you are confident to make more money.

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Quote from: LogitechMouse on April 03, 2020, 07:51:46 AM

How? For me, I can say that day trading is considered gambling if the trader doesn't know what he is doing. He just throws his money and bought a coin without proper knowledge on trading whatsoever. He just felt that he need to buy that coin and he bought it without knowing that its at the highest price.

Can I categorize such traders as traders who only rely on expectations from market conditions or should I say it as a trader who relies on speculation ?

Quote from: LogitechMouse on April 03, 2020, 07:51:46 AM

In gambling, you just throw your money there and hoping that it will win (with a bit of strategy maybe).

Hope and luck

Quote from: LogitechMouse on April 03, 2020, 07:51:46 AM

Same goes in day trading, you are just throwing away your money hoping that the coin you bought will increase its price.

Only hope

Trading involves speculation, predictions, analysis, and expectations while gambling only involves predictions, expectations, and luck. I think this is what distinguishes trade from gambling.

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Quote from: MCobian on April 02, 2020, 02:38:12 PM

In my opinion gambling and day trading are not the same, because day trading is much less risky than gambling. If we play
gambling winning percentage is around 50%, but the fact is if we play gambling more experience defeat. While day trading
percentage gets a profit of around 80%, if we have the ability to read market prices. So, the conclusion gambling cannot be
used as a source of income, while day trading can be used as a source of income. And according to data i read in the article
the number of people who are successful in day trading more than people who are successful in gambling.

You have some exact points and some need editing, day trading or trading in general, when compared directly to gambling, the safety is actually higher when we can decide the winning or losing rate based on the observation and evaluation in the market. While gambling has a nearly complete chance of losing, it cannot reach 50% as you say, casinos always create fake rates to cheat us, the analogy between gambling and trading is the bet to win but gambling is a business place to generate revenue for its owners, trading is a marketplace for traders to make money on their analytics.

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Maybe some will disagree on me but for me, gambling and day trading have some connections Wink

.

How? For me, I can say that day trading is considered gambling if the trader doesn't know what he is doing. He just throws his money and bought a coin without proper knowledge on trading whatsoever. He just felt that he need to buy that coin and he bought it without knowing that its at the highest price. In gambling, you just throw your money there and hoping that it will win (with a bit of strategy maybe). Same goes in day trading, you are just throwing away your money hoping that the coin you bought will increase its price.

This just applies for those traders who doesn't have any knowledge on trading. If you are an amateur or a professional trader then that is a different story already Wink

.

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

Quote from: noorman0 on April 03, 2020, 01:44:24 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.

That's quite true, gambling doesn't totally depends on luck but new lucky has major contributions to winning bets. We have professional that have perfected their skilled to the exact they can gamble repeatedly without losing on specific days although that doesn't mean they don't lose as somedays the luck factor meant not be on their side.

Gambling and trading are two different things that can only be related together when a trader gambles on his trader. That's to say, they go into a market without having any prior knowledge of the market and pick trade based on how lucky they feel. This kind of traders don't last long in the industry as they easily quit when they're no longer getting lucky.

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Quote from: noorman0 on April 03, 2020, 01:44:24 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.

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Quote from: ChiBitCTy on April 02, 2020, 12:30:27 PM

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.

Yes they are different. In many ways, in trading you may earn in a day trading only if you know how to scalp and also if you are having a good hands, but if not then you need to wait, while in gambling you may lost everything in just one bet so you need to think every move you are doing.

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[Nope]No hype delivers more than hope

Not the same at all.

Even if you suffer a loss in trading (whatever the period), at least the loss still holds value. Wherever the market chart takes you, you still hold your money and there will be hope that the value will return someday even give you a profit (depending on the currency you hold).

This will not be found in gambling. Your prediction is correct, your money multiplies, if wrong your money is lost.
"Trading for profit, gambling for luck."

pixie85

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This topic has been discussed on multiple occasions before and in short it goes like this:

Trading is not gambling because a trader is never in an all or nothing situation. When you gamble and place a bet you don't get back anything when you lose. You put in 100 USD into a pile and you either get it all or lose your 100.

A trader or an investor invests 100 and can lose a part of it and withdraw if things keep going bad. Depending on his moves he can lose $10 or $20 but never all of it.

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Quote from: BuxCoin on April 02, 2020, 02:14:40 PM

daily gambling wouldn't suit for me i have tried for some days to gamble daily but lost more then is got , guess i need more experience , i have some friends who gamble often and make some money , i think it depends on which we understand more and know to make money in a better way , but both of them needs lot of knowledge

The experienced day trader can make the same percentage gain over the weeks but this is no true for the gambler. The risk management is the basement of gambling and trading, but there is no luck factor in trading for the long term-swing traders.

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In my opinion gambling and day trading are not the same, because day trading is much less risky than gambling. If we play
gambling winning percentage is around 50%, but the fact is if we play gambling more experience defeat. While day trading
percentage gets a profit of around 80%, if we have the ability to read market prices. So, the conclusion gambling cannot be
used as a source of income, while day trading can be used as a source of income. And according to data i read in the article
the number of people who are successful in day trading more than people who are successful in gambling.

Saint-loup

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Quote from: msarro on April 02, 2020, 12:22:21 PM

Quote from: Clark05 on April 02, 2020, 10:32:40 AM

Quote from: Kurokonobasuke on April 02, 2020, 09:22:51 AM

Yes, gambling is almost likely to day trading because it is only few people that are succeed day trading because it was very risky to do that and it need a deep knowledge onto it
and needs a lot of effort to fully understand the day trading.
Gambling and day trading are both risky because it is not 100% sure that you win it.

Both gambling and trading is one of the risky way to earn bitcoin because in every mistake you do you can lose money.
There is no guaranteed that you earn in both ways but risk is less in trading and more danger to the gambling they have similarity but they have differences also. In everything there is no assurance even not gambling or trading!.

there are 2 big things that distinguish the two.

daily trading
- small risk of loss (no loss of 100% capital)
- possibility of profit (small amount)

gambling
- risk of losing a large amount (100% capital is used up)
- the possibility of getting a large amount of profit (if you are lucky to reach 10 times)

It's not totally true. If you want to earn money in day trading, you need to use leverages.
And when you use leverage (longs or shorts) you can win as much as in gambling but you can also lose all your funds.

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daily gambling wouldn't suit for me i have tried for some days to gamble daily but lost more then is got , guess i need more experience , i have some friends who gamble often and make some money , i think it depends on which we understand more and know to make money in a better way , but both of them needs lot of knowledge

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