How much gambling is in trading cryptocurrencies? - page 2.

LUCKMCFLY

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Quote from: kapalmabur on November 07, 2022, 04:06:13 AM

Quote from: bhooscream on November 06, 2022, 06:49:03 PM

Quote from: serjent05 on November 06, 2022, 06:13:41 PM

In trading, we can make use of fundamental analysis and technical analysis in order to enhance our chances of profit. Besides market is researchable and there are signals that can give hints about the trend of the market. We can also make use of market sentiment.

Evxatcly, having FA and also TA will be very useful for trading. Every trading that is not based on any analysis will be more to gambling, moreover the onr who doesn't know about trading. and as what you said, trading is always risky whatever we do, although we have made analysis, but there will be always the risks. the difference is how we can manage the risks if we are using the analysis.

It's true that if we trade without doing research and analysis, of course it's the same as gambling,
risk is an integral part of trading and we cannot avoid it completely,
By doing an analysis at least it can minimize the risk

Well I consider that taking risks is something that everyone should take at some point, in the case of traders they are always taking risks, sometimes they win, others they lose, but I think the main thing is to win or have at least a positive balance after all, if a trader wins even 1 usd, but loses less than 1 usd and makes another trade and wins 2 usd, the important thing is that he is forging himself in a very good way to be profitable and that is something that costs a lot However, the ones that achieve it are very few, I would say that of 100%, 20% is profitable and they live from trading, for me that is what happens.

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Quote from: kapalmabur on November 07, 2022, 04:06:13 AM

Quote from: bhooscream on November 06, 2022, 06:49:03 PM

Quote from: serjent05 on November 06, 2022, 06:13:41 PM

In trading, we can make use of fundamental analysis and technical analysis in order to enhance our chances of profit. Besides market is researchable and there are signals that can give hints about the trend of the market. We can also make use of market sentiment.

Evxatcly, having FA and also TA will be very useful for trading. Every trading that is not based on any analysis will be more to gambling, moreover the onr who doesn't know about trading. and as what you said, trading is always risky whatever we do, although we have made analysis, but there will be always the risks. the difference is how we can manage the risks if we are using the analysis.

It's true that if we trade without doing research and analysis, of course it's the same as gambling,
risk is an integral part of trading and we cannot avoid it completely,
By doing an analysis at least it can minimize the risk

You might be shocked but there are tens of thousands, maybe hundreds of thousands of people who actually do that. They do not study, they do not research, they do not analyse anything, they just see like some tokens on social media and invest into it with hype.

Obviously, there are accounts who promote and hype some tokens, thousands of accounts, and when someone reads about that token all they see is positive and amazing things about that token, so they feel very excited about the potential of something that thousands promoted. In reality, half of those are bots, the other are people who want to sell right away when they profit and shill it so it would go up.

kapalmabur

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Quote from: bhooscream on November 06, 2022, 06:49:03 PM

Quote from: serjent05 on November 06, 2022, 06:13:41 PM

In trading, we can make use of fundamental analysis and technical analysis in order to enhance our chances of profit. Besides market is researchable and there are signals that can give hints about the trend of the market. We can also make use of market sentiment.

Evxatcly, having FA and also TA will be very useful for trading. Every trading that is not based on any analysis will be more to gambling, moreover the onr who doesn't know about trading. and as what you said, trading is always risky whatever we do, although we have made analysis, but there will be always the risks. the difference is how we can manage the risks if we are using the analysis.

It's true that if we trade without doing research and analysis, of course it's the same as gambling,
risk is an integral part of trading and we cannot avoid it completely,
By doing an analysis at least it can minimize the risk

bhooscream

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Quote from: serjent05 on November 06, 2022, 06:13:41 PM

In trading, we can make use of fundamental analysis and technical analysis in order to enhance our chances of profit. Besides market is researchable and there are signals that can give hints about the trend of the market. We can also make use of market sentiment.

Evxatcly, having FA and also TA will be very useful for trading. Every trading that is not based on any analysis will be more to gambling, moreover the onr who doesn't know about trading. and as what you said, trading is always risky whatever we do, although we have made analysis, but there will be always the risks. the difference is how we can manage the risks if we are using the analysis.

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The problem with cryptocurrencies trading are the fees, it makes it a lot more difficult to be profitable in the long run. That's why I prefer the simple method of buying BTC and Eth on a regular basis and hold for the long term.

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Quote from: deathcode on November 04, 2022, 10:49:25 AM

Quote from: YellowWitty1 on November 01, 2022, 05:13:05 AM

It depends on how you trade. Traders who don’t trade with any preparation and depend solely on their “luck” to win trade fall the hardest. Your approach and knowledge are accountable for your success. Analyse the market and make choices after you have a tested trading strategy.

That's right, it depends on how you trade, it will determine whether it is trading or gambling.
I think trading in general is different from gambling.
In trading we make an analysis and calculation in advance to achieve profit.
In gambling we only risk our capital and rely on luck to make a profit.
This is a very thin difference in my opinion because in soccer betting or horse racing betting also requires analysis and calculation before betting.
Although trading and some gambling are based on analysis and calculation they are still different if the trading itself is done "right".
Gambling itself I think the presentation is more to bet with "luck" than with analysis and calculation.

In trading, we can make use of fundamental analysis and technical analysis in order to enhance our chances of profit. Besides market is researchable and there are signals that can give hints about the trend of the market. We can also make use of market sentiment. There are lots of risk control factors in trading while gambling has almost none. The only time trading become gambling is when we venture into trading blindly.

Quote from: bitgolden on November 06, 2022, 03:36:02 PM

Gambling is in trading very risky low level stuff, not in bitcoin or ethereum level of stuff. Reality is that if you are trading the top coins, you either profit, or you wait because in either way you could profit.

There is a fine line that separates trading and gambling and that is how a trader controls the risk.

Quote from: bitgolden on November 06, 2022, 03:36:02 PM

If you buy at 20k and want to sell at 21k, if it reaches 21k right away then you sell and make a profit, if it goes down to 19k then you wait and then sell when it eventually reaches 21k, in both cases it reached 21k, in one of them it took longer. That’s the only difference. This is why trading the big names do not feel like gambling at all, it just feels like regular trading, but if you are trading something that has like 50k dollars volume, then you are gambling for sure.

Meaning a person has more control in trading result than gambling since in gambling once we push the bet button it will go thorugh the result directly.

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Gambling is in trading very risky low level stuff, not in bitcoin or ethereum level of stuff. Reality is that if you are trading the top coins, you either profit, or you wait because in either way you could profit.

If you buy at 20k and want to sell at 21k, if it reaches 21k right away then you sell and make a profit, if it goes down to 19k then you wait and then sell when it eventually reaches 21k, in both cases it reached 21k, in one of them it took longer. That’s the only difference. This is why trading the big names do not feel like gambling at all, it just feels like regular trading, but if you are trading something that has like 50k dollars volume, then you are gambling for sure.

deathcode

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Quote from: YellowWitty1 on November 01, 2022, 05:13:05 AM

It depends on how you trade. Traders who don’t trade with any preparation and depend solely on their “luck” to win trade fall the hardest. Your approach and knowledge are accountable for your success. Analyse the market and make choices after you have a tested trading strategy.

That's right, it depends on how you trade, it will determine whether it is trading or gambling.
I think trading in general is different from gambling.
In trading we make an analysis and calculation in advance to achieve profit.
In gambling we only risk our capital and rely on luck to make a profit.
This is a very thin difference in my opinion because in soccer betting or horse racing betting also requires analysis and calculation before betting.
Although trading and some gambling are based on analysis and calculation they are still different if the trading itself is done "right".
Gambling itself I think the presentation is more to bet with "luck" than with analysis and calculation.

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Quote from: walker_/L on October 15, 2022, 02:40:19 PM

This is where I come to the conclusion that for most of people who trade, trading is just a gamble. Sometimes they win, and this is where legends are born most of the times. Sometimes they lose, what happens more often. In general we are lured by huge and rapid wealth and such desires are addictive, especially if you succeeded a couple of times. Only few are determined enough to reach a level of proficiency before losing it all - money, hope and a touch of reality.

It sounds depressive as I read it but this is how I see this.

Every trader has this iota of gambling in them although it's level varies amongst different trader. Some have this gambling in higher proportion while the rest have it in lesser proportion. It is how much a trader deals with this gambling habit when trading that determines how far the can progress with what ever analysis they use. As for losses it is part of the business but consistent loss is what looks abnormal even expert traders share from the well of losses. What makes one a profitable trader is their ability to balance their loss with more winning trades

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Quote from: YellowWitty1 on November 01, 2022, 05:13:05 AM

It depends on how you trade. Traders who don’t trade with any preparation and depend solely on their “luck” to win trade fall the hardest.

That's the total gamble there if the trader is just relying on luck. Unlike gambling, trading can be applied with certain base from the market to have that advantage that you're not just relying on luck.

Quote from: YellowWitty1 on November 01, 2022, 05:13:05 AM

Your approach and knowledge are accountable for your success. Analyse the market and make choices after you have a tested trading strategy.

And most successful traders have gathered a lot of knowledge from their experiences and seen that there's a need to adapt those. Analyzing the market is one of the advantages if you know how-to and don't just think about luck is with you.

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Quote from: walker_/L on October 15, 2022, 02:40:19 PM

It sounds depressive as I read it but this is how I see this.

No it is not. You just said your mind and the mind of others, few or majority thinking trading is also gambling but it is not.

Quote from: walker_/L on October 15, 2022, 02:40:19 PM

This is where I come to the conclusion that for most of people who trade, trading is just a gamble. Sometimes they win, and this is where legends are born most of the times. Sometimes they lose, what happens more often. In general we are lured by huge and rapid wealth and such desires are addictive, especially if you succeeded a couple of times. Only few are determined enough to reach a level of proficiency before losing it all - money, hope and a touch of reality.

See some reasons that trading is not gambling.

In trading you can exit when you don't like the order you have made or if the trade is running against you and you decide not to continue, you can stop half way but in gambling you can't stop if you have made the bet until it is done. It is either you lose or you gain.

In trading, you can use stop loss to protect your remaining capital or liquidity but gambling is not like that.

Trading is not a game. Games most times depends on luck to know the outcome and this is typical of gambling.

The analysis in trading is by technical or fundamental. If there is analysis in gambling, it is called forecast and hinged on luck.

To this there are some news that will hit the trade on going and it will instantly change the direction of the market for your gain or loss. Example if you look at the news of Elon musk becoming the owner of tweeter had to increase the price of dogecoin. People started buying dogecoin because of the affiliation Elon musk has with dogecoin. Trading is not a game but gambling is a game either physical or animated.

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Quote from: walker_/L on October 15, 2022, 02:40:19 PM

~snip

It seems to me that you have made a very interesting and curious observation. I think your idea that trading is very similar to gambling is quite a reasonable idea. In both cases, people want to win and make a bet for this. There are more analogies with playing roulette here: you make a prediction on a number and wait for the result. If you guessed correctly, you win. The same is true in trading: your forecast turned out to be erroneous, which means you are incurring losses. Knowledge and experience certainly give an advantage, both in gambling and in trading, but in my opinion, a lot depends on luck. A random factor that is almost impossible to predict. Those who manage to catch this moment, those, as you said, become legends.

AicecreaME

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Trading is gambling, but not literally. Trading is "gambling" means you're risking something, and that is the chances of making profits based on your technical analysis and other supporting techniques to increase the chances of making profits every trade.

While gambling itself directly involves money, without it, you can't bet, and mostly it relies on luck, could be easily manipulated and cheated on too, which can't happen in trading cryptocurrency, I believe.

This is only my opinion as well, trading cryptocurrency is more profitable than gambling. A cryptocurrency could be use for trading or hold it as an investment, either way, there would be times that you will not make a profit but that's okay, with enough experience and knowledge through that, eventually you'll reach the level of a trader that mostly makes profit.

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Quote from: lienfaye on November 02, 2022, 03:13:40 AM

There's a similarity because the result is uncertain and there's no 100% assurance that you'll gain. However, the level for trading to be like gambling depends on what kind of trader you are based on your skills, knowledge and strategy when you trade.

If you're a type of trader who's relying on signals or in other trader's strategy without using your own analysis and understanding then it's pretty much like gambling. On the other side, a trader who's aware of what he's doing and can come up with an effective strategy using his knowledge about trading has a chance to maximize having a good outcome when he trade. Nevertheless crypto is high volatile, losing is inevitable sometimes, there's no exception and even pro traders do experienced it.

Relying on someone is better than relying on your own ability even if you know that you are clueless on what you are doing. This is the same in copy trading if you are doing it manually. Can't really say that this was a gambling since it's possible for us to read feedbacks first before we use the signal or before we copy a trade. Losing is inevitable as you said but it is normal and as long as the ratio or our loss is lower versus to our wins.

I only want to clear out that I am not encouraging anyone to be lazy and just copy everything that they say see but of course it is always better if we can stand on our own foot. It can make us feel more confident and proud of ourselves.

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Quote from: cozytrade on November 02, 2022, 01:16:35 PM

Quote from: CryptoYar on October 25, 2022, 05:25:21 AM

Quote from: ?? on ??

I think it largely depends on the trader himself. I think with the right approach it can be quite profitable.

Well said. It depends on the trader whether he wants to gamble or trade with a proper plan.

If one jumps into the trade without a trading plan + with high leverage then clearly he/she is gambling. But if one reads the charts and defines his entry and exit zones. And takes trade with after looking at price behavior. Places his stop loss according to his risk-to-reward ratio then I would say it's not gambling.

What most trader lack is patience and consistency. Most of the time, emotions play a big part in our trading. I saw traders often take high leverage in future trade after heavy losses. They want to recover their losses from one single transaction and end up being taken more losses. So When emotions come in trading time, they provoke us to gamble with our money.

When you are that too impulsive then it would really be resulting into more losses which is something that we should really be avoiding at the first place.When you do let your emotions do distract you or you do

follow on what your emotion tells you then it would really be causing lots of errors or mistakes which would really be resulting into huge losses which is something that we dont really like for it to happen.

Dont treat trading as some sort of gambling whereas you could just simply make or open up positions without having reconsiderations on what you have done.It would be always ideal that you should set out
analyzed open positions basing up on those indicators or tools that could be used off on this process.Its not gambling if you are applying analysis through it but if not then
its totally a 100% gamble.

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Quote from: CryptoYar on October 25, 2022, 05:25:21 AM

Quote from: ?? on ??

I think it largely depends on the trader himself. I think with the right approach it can be quite profitable.

Well said. It depends on the trader whether he wants to gamble or trade with a proper plan.

If one jumps into the trade without a trading plan + with high leverage then clearly he/she is gambling. But if one reads the charts and defines his entry and exit zones. And takes trade with after looking at price behavior. Places his stop loss according to his risk-to-reward ratio then I would say it's not gambling.

What most trader lack is patience and consistency. Most of the time, emotions play a big part in our trading. I saw traders often take high leverage in future trade after heavy losses. They want to recover their losses from one single transaction and end up being taken more losses. So When emotions come in trading time, they provoke us to gamble with our money.

lienfaye

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There's a similarity because the result is uncertain and there's no 100% assurance that you'll gain. However, the level for trading to be like gambling depends on what kind of trader you are based on your skills, knowledge and strategy when you trade.

If you're a type of trader who's relying on signals or in other trader's strategy without using your own analysis and understanding then it's pretty much like gambling. On the other side, a trader who's aware of what he's doing and can come up with an effective strategy using his knowledge about trading has a chance to maximize having a good outcome when he trade. Nevertheless crypto is high volatile, losing is inevitable sometimes, there's no exception and even pro traders do experienced it.

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Quote from: YellowWitty1 on November 01, 2022, 05:13:05 AM

It depends on how you trade. Traders who don’t trade with any preparation and depend solely on their “luck” to win trade fall the hardest. Your approach and knowledge are accountable for your success. Analyse the market and make choices after you have a tested trading strategy.

And there is very little doubt that many of those which trade for the first time in this market are in fact gambling, since they do not really have any idea of what they are doing, and if they happen to win a trade or two it has nothing to do with their skill but with their luck.

Unfortunately this has a very negative effect on them as they start to believe they do not need any knowledge or skill to trade and win at the markets, a belief which is obviously false as only those which are expert traders can obtain profits over the long term.

Myleschetty

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First, some people consider crypto trading to be gambling because of what's involved and the end results while some people don't agree with it. However, if we look deeply into we can say crypto trading is gambling, and what will tell how much gambling level that's involved in trading is vice-versa because it all depends on each trading knowledge and trading experience.

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@Op
I must give it to you, in as much as my mind is trying not to accept that much of what we call trading is a gamble, i still have to force myself from my personal experiences to believe that all you said is true.
More than 90 percent of the time i trade, (speaking for myself now) i do what is generally termed as trading blindly, this is trading without research, no reason, no technical or fundamental backing, i just trade based on feelings, that is seeing a chart with more recent red candles than green, and i feel "this has been down for a while, it should rise soon", so i jump in..
The catch of the whole thing is that sometimes, i am actually right and i end up making some nice profit, but other times, it is just another way to hold coins i never wished to hold cus i cant bring myself to accept that ive lost( and this is actually the beauty in trading spot, you have the option to hold until you are in profit or sell and take the loss) and this is absolutely no different from gambling.

Topic: How much gambling is in trading cryptocurrencies? - page 2. (Read 990 times)