Topic: Gambling is like day trading ? - page 6. (Read 2855 times)
Some people will have an idea of what day trading is compared to gambling. Someone I had chat with about trading and all he said was that it's like betting up and downtrend game. You may consider it a very simple idea to day trading or simply making it a game of chance. Either way, both opinions are about money-making.
With gambling I need strategy, skills and luck. I can have a fun time, I must be very cautious, master my self control and know when to withdraw from the bet. While in trading, the sentiment is cold and calculating, in both we always seek the same goal: to obtain profits but the level of satisfaction is different.
I think you nail the difference between gambling and trading.In trading, there's no time for you to have some fun as you trade and it's no fun if you're losing. Whilst, as you gamble, you can have fun despite losing.
And yes, those are the things that a gambler and a trader thinks except the latter.
With gambling I need strategy, skills and luck. I can have a fun time, I must be very cautious, master my self control and know when to withdraw from the bet. While in trading, the sentiment is cold and calculating, in both we always seek the same goal: to obtain profits but the level of satisfaction is different.
I think you nail the difference between gambling and trading.In trading, there's no time for you to have some fun as you trade and it's no fun if you're losing. Whilst, as you gamble, you can have fun despite losing.
And yes, those are the things that a gambler and a trader thinks except the latter.
With gambling I need strategy, skills and luck. I can have a fun time, I must be very cautious, master my self control and know when to withdraw from the bet. While in trading, the sentiment is cold and calculating, in both we always seek the same goal: to obtain profits but the level of satisfaction is different.
I think you nail the difference between gambling and trading.In trading, there's no time for you to have some fun as you trade and it's no fun if you're losing. Whilst, as you gamble, you can have fun despite losing.
With gambling I need strategy, skills and luck. I can have a fun time, I must be very cautious, master my self control and know when to withdraw from the bet. While in trading, the sentiment is cold and calculating, in both we always seek the same goal: to obtain profits but the level of satisfaction is different.
I think you nail the difference between gambling and trading.In trading, there's no time for you to have some fun as you trade and it's no fun if you're losing. Whilst, as you gamble, you can have fun despite losing.
Gambling = pure luck while trading requires some technical analysis and knowledge.
Trading can be a gambling only if people do it blindly. Just guessing without any proper analysis and knowledge.
This is what I always say when day trading and gambling are being compared to each other.Trading can be a gambling only if people do it blindly. Just guessing without any proper analysis and knowledge.
The way you can get profit in this 2 different things are different. In gambling you will just win on it if you are lucky and you know how to stop when you need to. On the other hand, you can get profits in day trading if you are good in TA, have knowledge in trading etc etc.
However, day trading can be considered gambling too if you are doing it without proper knowledge. This is what most of the newbie traders are doing most of the time. Its like they are jumping in a cliff hoping that they will survive the fall. The chances of them to lose money in day trading is very high if they trade without knowledge and can't read the charts.
Dice or roulette also do need luck when you are gambling. Of course, hoping that the casino is also important. You can use strategies on winning casino games while in trading is you also need strategy and skills where in gambling skills is not that important. Everyone have their own opinions and point of view maybe that is why op think that gambling is like day trading.
Can you share your strategy for winning the dice with us? I've heard that some casinos support multiple bets when playing dice.
Trading can also differ from gambling in that information is important there. You can find out that a certain coin will be placed on a major exchange in a few days. Thanks to this knowledge, you can earn a lot of money. Is this possible in a game of dice?
But in trading, it takes a mature strategy and strong analysis so that we can choose potential and profitable coins for us, so of course it's very different between trading and gambling strategies, but gambling is more likely to be lucky.
Dice or roulette also do need luck when you are gambling. Of course, hoping that the casino is also important. You can use strategies on winning casino games while in trading is you also need strategy and skills where in gambling skills is not that important. Everyone have their own opinions and point of view maybe that is why op think that gambling is like day trading.
Can you share your strategy for winning the dice with us? I've heard that some casinos support multiple bets when playing dice.
Trading can also differ from gambling in that information is important there. You can find out that a certain coin will be placed on a major exchange in a few days. Thanks to this knowledge, you can earn a lot of money. Is this possible in a game of dice?
With gambling I need strategy, skills and luck.
just forget about the luck, you need good strategy and skills so you can win, luck will only give you few wins but skills and luck will give you consistency that you'll be confident when you are gambling. I can have a fun time, I must be very cautious, master my self control and know when to withdraw from the bet. While in trading, the sentiment is cold and calculating, in both we always seek the same goal: to obtain profits but the level of satisfaction is different.
If its possible to do both then why not?the thing is, it's important that you love what you are doing, otherwise you will not get anything from gambling, winning is just some kind of extra for me because when I gamble I already understand that gamblers loses most of the time, that's why we need not to be aggressive, but if you have skills that's gonna be different.
Why does everyone only mention poker? On this point, I agreed. However, there is a lot of gambling. Tell me what skill should I have to constantly win at dice? Or in slot machines? What do I need to be able to do, especially in these days of virtual gambling?
Of course you don't need any skills with dice or roulette, nor luck. Only hope that casino is fair
I agree that gambling and trading are very demanding on luck. However, skills in trading is more important than in gambling (with the exception of poker and betting).
"More important", "less important" - it's just a dialectic terms. In my previous message i tried to show that in gambling or trading, skills doesn't affect too much if luck it's not on your side. Even the best (from theory and books) analysis will be useless if it din't help you to guess where is market moved. sometimes your analysis is confirmed, sometimes it is not. Even the best traders can't be right all of time. The same as gamblers.
Johnny, I was just expressing my own opinion. I made all the conclusions based on my experience.
Traders can also make mistakes in the analysis, in the chosen trading strategy, they may not be lucky and they will receive losses. However, professional experienced traders in most cases will profit from a long distance.
Personally, I know several fairly experienced and successful traders who make a living trading. But I do not know of any avid gambler who would profit from a long distance. All of them constantly lose their money. I don't count poker here.
With gambling I need strategy, skills and luck. I can have a fun time, I must be very cautious, master my self control and know when to withdraw from the bet. While in trading, the sentiment is cold and calculating, in both we always seek the same goal: to obtain profits but the level of satisfaction is different.
Why does everyone only mention poker? On this point, I agreed. However, there is a lot of gambling. Tell me what skill should I have to constantly win at dice? Or in slot machines? What do I need to be able to do, especially in these days of virtual gambling?
Of course you don't need any skills with dice or roulette, nor luck. Only hope that casino is fair
Why does everyone only mention poker? On this point, I agreed. However, there is a lot of gambling. Tell me what skill should I have to constantly win at dice? Or in slot machines? What do I need to be able to do, especially in these days of virtual gambling?
Of course you don't need any skills with dice or roulette, nor luck. Only hope that casino is fair
I agree that gambling and trading are very demanding on luck. However, skills in trading is more important than in gambling (with the exception of poker and betting).
"More important", "less important" - it's just a dialectic terms. In my previous message i tried to show that in gambling or trading, skills doesn't affect too much if luck it's not on your side. Even the best (from theory and books) analysis will be useless if it din't help you to guess where is market moved. sometimes your analysis is confirmed, sometimes it is not. Even the best traders can't be right all of time. The same as gamblers.
I have always considered gambling only as entertainment. Most likely there are people who are trying to make money on gambling. And perhaps (as someone wrote earlier) there is an opportunity to constantly earn money on poker or on sports betting. However, I personally believe that everything is more based on luck.
In trading, too, luck is needed, but there everything depends much more on the skill to trade.
In trading, too, luck is needed, but there everything depends much more on the skill to trade.
Can't agree with you. In fact, everything the same in meaning skill + luck. For example, poker needed some strategies when you playing, analyzing of game situation, counting probability and so on. But in final, only your luck will decide exodus of the specific game. But if you're good player, on distance you have a bigger (not big, not for sure) probability to win. The same with trading, you can be very good trading, but your patterns and tech analyse will fail and you ll lost your money. But the same moment, with good skills and knowledge you have a bigger probability to make money.
But on my mind, most traders also as gamblers - losing. I would count their percent as 95 %.
Why does everyone only mention poker? On this point, I agreed. However, there is a lot of gambling. Tell me what skill should I have to constantly win at dice? Or in slot machines? What do I need to be able to do, especially in these days of virtual gambling?
I agree that gambling and trading are very demanding on luck. However, skills in trading is more important than in gambling (with the exception of poker and betting).
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If you gamble everyday then there is not any difference between gambling and day trading.
You have to pose a strategy and you have to have in mind the price of the crypto that you are betting in order to maximize profits and minimize losses. The same concept happens with day trading so there is not any difference at all.
You have to pose a strategy and you have to have in mind the price of the crypto that you are betting in order to maximize profits and minimize losses. The same concept happens with day trading so there is not any difference at all.
Not the same . You will not compare trading to gambling. Trading to me is a more professional and respected business activity than gambling. Gambling has been looked down on, it has been seen as unprofessional and not worthy to go in for. You can learn trading in a professional way but gambling can be understood by just watching and observing.
About the real money making, trading involves technical , it is professional and not based on luck but gambling is based on luck.
Although day trading is very professional and respected business for you, but imagine at the end of the day, "Day-trading" and Gambling is almost same things. Day-trading depends on small price fluctuations, you will never know when the price will go up and down. Day-trading is totally dependent on your luck. On the other hand, gambling is almost same thing. It also depends on your fate. You also told that, “Trading depends on skill & technique. I agree with this, with the help of skill & technique, you can predict the movement of the market. but remember, "Day-trading" & "long-term trading" doesn't work in the same way, no one can say exactly when the price will go up in day trading.
I have always considered gambling only as entertainment. Most likely there are people who are trying to make money on gambling. And perhaps (as someone wrote earlier) there is an opportunity to constantly earn money on poker or on sports betting. However, I personally believe that everything is more based on luck.
In trading, too, luck is needed, but there everything depends much more on the skill to trade.
In trading, too, luck is needed, but there everything depends much more on the skill to trade.
Can't agree with you. In fact, everything the same in meaning skill + luck. For example, poker needed some strategies when you playing, analyzing of game situation, counting probability and so on. But in final, only your luck will decide exodus of the specific game. But if you're good player, on distance you have a bigger (not big, not for sure) probability to win. The same with trading, you can be very good trading, but your patterns and tech analyse will fail and you ll lost your money. But the same moment, with good skills and knowledge you have a bigger probability to make money.
But on my mind, most traders also as gamblers - losing. I would count their percent as 95 %.
In trade, in all cases, you need a skill, there to rely on luck is stupid.
Definitely but you can still trade even if you rely on skills, just like gambling, but if you want to be profitable in the long run, don't rely on luck but on your skills as that would give someone consistency on what he does either in gambling or trading.
Some people are serious with gambling, they hope to be lucky but they have so much trust on their skills because they build it and develop it to give them consistency on winning, so maybe people have different approach in gambling and some does not believe that skills could give you a win but me I do believe as long as you gamble on games where your skills can be useful.
I have always considered gambling only as entertainment. Most likely there are people who are trying to make money on gambling. And perhaps (as someone wrote earlier) there is an opportunity to constantly earn money on poker or on sports betting. However, I personally believe that everything is more based on luck.
In trading, too, luck is needed, but there everything depends much more on the skill to trade.
Both are completely different, they cant be compared as they are not apple to apple comparison. Gambling = pure luck while trading requires some technical analysis and knowledge.
I agree if we are talking about gambling games like dice, slots, or roulette. These games basically are no need special skills instead of luck to have a big role. While trading surely needs skills and certain knowledge in analyzing market trends. You will be at a big risk if you trade without sufficient knowledge and lack of skills. That's why people said to learn much before trading! 
In trade, in all cases, you need a skill, there to rely on luck is stupid.
Definitely but you can still trade even if you rely on skills, just like gambling, but if you want to be profitable in the long run, don't rely on luck but on your skills as that would give someone consistency on what he does either in gambling or trading.
Some people are serious with gambling, they hope to be lucky but they have so much trust on their skills because they build it and develop it to give them consistency on winning, so maybe people have different approach in gambling and some does not believe that skills could give you a win but me I do believe as long as you gamble on games where your skills can be useful.
I'm a momentum/scalp trader where I do day trading, the gambling and the day trading are both different to each other especially the skills that you need but both requires a good management skills in order to lessen losses and handle unforeseen scenarios. In day trading I using intraday charts like 3 minutes, 5 minutes and 1 hour. I scalp where I earn 10% above everyday but there are times that I experience losses. In gambling my win rate is very low because my skills are not yet properly trained.
You don't need much skill in gambling. It probably needs more luck than skill. You also need to learn to stay calm in any situation. This is really important.
Skills are very much needed in gambling! For example, in poker or betting on sports! Without skills you will lose 100% of your money!
You don't need skills in slot machines or dice...
In what other games do you need a skill? I would not classify sports betting as simple gambling. This is a more complex action. Poker is usually played not against a casino but with other players. I agree with you in them a skill is needed.
However, I was referring to normal gambling. For example, dice, roulette, slot machines.
In trade, in all cases, you need a skill, there to rely on luck is stupid.
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