How much gambling is in trading cryptocurrencies? - page 4.

Mahanton

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Quote from: LastKiss on October 21, 2022, 08:11:02 AM

Quote from: walker_/L on October 15, 2022, 03:40:19 PM

~snip~
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.

Well if we trade with our luck then we can call it gambling but if we trade with our experience and knowledge then it is pure our mistake when we got losses. Many people didn't have the patience to wait for the price to bounce back instead they sell and try to buy at the lower level. When the same thing happens they end up losing and said that trading is gambling.

When you do trade without any knowledge or you dont really have the idea on what you are doing then you are just simply doing gambling.Anything that you do without any proper preparation and you do just
simply throw off decisions without any basis then its gambling and we know that trading shouldnt really be handled that way.Yes, theres no such thing about certain things on trading since this market
is unpredictable on the first place but you should really make yourself do all sorts of things to minimize the risk as much as you could.
Dont think and treat up things like you are gambling because its never been that good to have that kind of behavior on dealing up with these things.

uneng

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Since crypto market is well known for being unpredictable, we can say crypto trading is totally about gambling, at least on short run.

There are no possible analyzes to lead us to a conclusion if bitcoin is going to rise of fall today or in one week or in one month and even in one year. You have to make a guess and pray that it is the right one.

On long term, however, we start having elements to build a conscious and functional prediction, therefore we don't have to rely on luck exclusively anymore, but on facts, events and concepts surrounding us and bitcoin (which drives this market in every directions).

So, if you are going to trade, make sure you are going to do this thinking in long time periods. This way you will stop gambling and will start trading for real.

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Quote from: walker_/L on October 15, 2022, 03:40:19 PM

~snip~
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.

Well if we trade with our luck then we can call it gambling but if we trade with our experience and knowledge then it is pure our mistake when we got losses. Many people didn't have the patience to wait for the price to bounce back instead they sell and try to buy at the lower level. When the same thing happens they end up losing and said that trading is gambling.

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Quote from: iv4n on October 21, 2022, 01:51:07 AM

Well, trading with new coins/tokens, counting old low-cap ones too, is pure gambling. Simply there's a lot of manipulation with them, proven fact, we had/have too many cases around, pump & dump scheme is something we see very often in crypto.

I like the way you explain it, but it's true.
Even if a trader does it without any analysis, then it is also a gamble where they only depend on the luck factor. I know that many people do, especially if they are new traders who have no knowledge of trading.

In the end gambling on trading is done unconsciously, they expect big profits on assets whose prices are very low. My statement may be proven from the many altcoin memes circulating in the market and being manipulated by the whales. One of the most famous recently is LUNC.

iv4n

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Personally I feel crypto trading is pure gambling because there is not rule and regulations to control misuse of this system. Everyday many crypto coming towards society with fake vision. There should be a strict guidelines that when any project can be traded on public platform m as a world society government they should not be selfish and come together for better world.

Well, trading with new coins/tokens, counting old low-cap ones too, is pure gambling. Simply there's a lot of manipulation with them, proven fact, we had/have too many cases around, pump & dump scheme is something we see very often in crypto. Those who decide to join that circus are risking a lot, there are no rules here, some guidelines... it's just about the timing, getting in & out on time, like placing a bet on red or black in roulette. But in roulette we see the ball, in these schemes, we don't see a lot, any bagholder can dump everything in minutes and leave you with a bag full of worthless coins.

gunhell16

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Quote from: serjent05 on October 17, 2022, 07:35:53 PM

There is a huge difference between trading and gambling. Though there is a thin line separating our actions to whether we are gambling in our trade or we are actually trading. After all it all goes on our preparation and knowledge about the stuff we are trading. If we are trading blindly, sure it is good as gambling but if we are doing analysis and research, it cannot be called gambling because our action is supported by our analysis and the chance of gaining profit is not random or not by chance. Of course, there are unknown factors in trading but they can be solved by gathering the right information. While in gambling, no matter how we gather information the result will always be random.

What you are saying here is correct Sir, there is a big difference between trading in cryptocurrency and gambling in this industry. Because crypto trading can be considered a job not a bit of luck is expected. This trading in the crypto space is an opportunity that if we take it seriously, can be a source of income for any of us here as long as we have enough knowledge and ideas because if you don't have it, the assets you buy to trade here will be wasted.

Now to say that crypto trading is a gamble, it is only based on individuals who do not have enough knowledge about it as you mentioned. Or it depends on the understanding of a community here on cryptocurrency.

goinmerry

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Since you are building experience, just go with the flow. There will be lots of issues that you will face while trading cryptocurrencies.

Your emotions is having a big role here and no choice but to accept that sometimes you will be stressed dealing with the markets.

Just continue your progress and try to take things smoothly. Soon all your concerns will be addressed because of your experience.

jossiel

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

We tell that it's profitable which is true but if on the actual, this is hard to maintain and balance because usually, you're just going to lose no matter how badly you want to make a profit.

Most traders are losing even doing the right approach because the market is approachable and unpredictable. Somehow, I'd agree that it's quite profitable if you've become experienced and you've improved on how you make your decisions.

goldkingcoiner

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The amount of unknowable variables interferes with the prediction algorithmic formulae of cryptocurrencies just as much as it does with stocks. That's why it will never be possible to predict price moves at 100% accuracy. And that is exactly why there will always be an element of gambling in cryptocurrencies. The big difference between gambling and crypto/stocks is that you decide how much risk you are ok with and where you can lower the risk by doing deeper market research. In gambling you get what you get. And with a fixed probability of winning each time.

But if you think about it, life is all risk. You just choose between the risky and less risky options. There is never an option with no risk whatsoever.

FanEagle

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Understanding the concept of trading means that you should know there is no centralized figure, meaning if you lose, someone else is winning, and that is how trading works. Even in a situation where it’s going down and both trades lost, one loses more than the other. That is why it is important to make the distinction from gambling where everyone loses to the house, and only house wins. Trading is not like that, be better and you will earn more.

One problem is that, in trading world there is a top heavy winners too, less amount of people win more, whereas more people earn less/ lose more and that means you should aim to be at the top if you could possibly do that.

Mr.right85

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Quote from: NicNacCoin on October 19, 2022, 06:51:48 PM

Quote from: Johnyz on October 15, 2022, 05:09:15 PM

Trading will only become gambling once you depend on your luck, and that is why many lose the money because they didn’t do anything aside from a guess buy and sell strategy.

Right Any time you buy something and leave it to luck, it becomes like gambling.

This is an entirely new definition to me for sure. Categorising gambling to be whatever investment or purchase that is left to appreciate of luck might have it. Well, that could be that but in truth, gambling isn't a 100% luck. A few games have always come with some know how about it or have a higher chance of getting a particular outcome. This is more common in the sportsbooks.

It's easy to anticipate a Reak Madrid win between a team like Real Madrid and Newcastle should they ever make it into the champions league, my choice would always be Real Madrid and most times, they do deliver such games. Would that be technically luck? It's hard to say.

NicNacCoin

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Quote from: Johnyz on October 15, 2022, 05:09:15 PM

Trading will only become gambling once you depend on your luck, and that is why many lose the money because they didn’t do anything aside from a guess buy and sell strategy. You can be more good in trading once you do analyze the market, this is your hard work is needed and you should do this to avoid such losses. Those trader who succeed in this market didn’t think this as a gambling, but they treat this market as their job and they have to do their part to get the profit.

Right Any time you buy something and leave it to luck, it becomes like gambling.Never buying speculatively on a trading platform and leaving it to chance is a complete gamble.Just like gambling you are betting on luck, trading on guesswork is also betting on luck.But whatever you do, you should analyze the market carefully and then trade, otherwise you should not trade on guesswork.

ethereumhunter

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Quote from: fullhdpixel on October 17, 2022, 05:14:30 PM

Quote from: ethereumhunter on October 16, 2022, 10:07:01 AM

If people just buy randomly without doing any analysis, it's a gamble because they expect to guess the price to make a buy then or sell and most of them suffer a loss, although some of them can make a profit. But we can't always get profit by doing it this way, considering that market conditions and situations are always changing. This is where the importance of learning to analyze which is done continuously to improve our ability to trade and not many people can do this.

Trading is not only about buying a coin but it's also about how you initiate your trades. If you don't have a strategy then you won't likely succeed with it. When you buy a random coin, there is still a chance that you will earn something out of it as long as you know how to initiate your trades. Trading involves price guessing but we can guess in an educated manner because there are several tools that we can use.

Analysis is easy to do but trading is more than analysis. We also need to learn how to deal with our emotions and other stuffs. Analysis is for all but trading isn't due to how complex it was. This is why many people got intimidated instantly whenever they hear the word trade.

That's true. That's why before we start trading, we better learn about trading and that we can get easily with the help of the internet. We need to know many things before trading, including how to choose coins that can give us profits later. But it would be better if we don't choose or buy coins that we don't know if they are worth buying or look for other coins.

Never trade by just guessing because it won't always work but start trying to learn analysis so you can know when to trade and choose the right coin. Thus, our profit chances can also be greater than before. And remember that learning to trade takes time and not everyone will be consistent with keeping learning.

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Quote from: AakZaki on October 19, 2022, 10:08:07 AM

Quote from: Eternad on October 17, 2022, 09:30:27 AM

I think the point here is the act of gambling and not literally the gambling games. OP is just trying to point how risky crypto trading that almost like you are gambling your chances of winning. Crypto trading is a very hard profession due to its volatility which is why it’s always being incorporated in gambling nevertheless it’s really different in gambling since this is buying assets and hoping it will go high while gambling is just relying on chance to win.

This is why some common people think about crypto trading which is almost synonymous with trading. Because it depends on how a person trades properly, not prioritizing greed, because trading that is carried out in extreme is equated with literal gambling. Trading like this will be very risky, without any management and strategy. They just trade buy and wait for when it will go up or when it will hit the price they want. Staying away from this kind of trade will save your money and your mind.

Very wrong misconception specially to those who are complete newbie or have zero knowledge on what trading is all about.They would really be having that impression that trading is just an easy buy and sell of coins

without even realizing that its never been hard unless if they do have the actually experience but let them be because sooner or later they would really be that able to know on how risk trading is.
I do agree that it does have some sort of gambling whenever you do make out decisions or positions which it doesnt really have any analysis on it or simply a guess because of guts
and intuition which is never been suggestible.

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Quote from: Eternad on October 17, 2022, 09:30:27 AM

I think the point here is the act of gambling and not literally the gambling games. OP is just trying to point how risky crypto trading that almost like you are gambling your chances of winning. Crypto trading is a very hard profession due to its volatility which is why it’s always being incorporated in gambling nevertheless it’s really different in gambling since this is buying assets and hoping it will go high while gambling is just relying on chance to win.

This is why some common people think about crypto trading which is almost synonymous with trading. Because it depends on how a person trades properly, not prioritizing greed, because trading that is carried out in extreme is equated with literal gambling. Trading like this will be very risky, without any management and strategy. They just trade buy and wait for when it will go up or when it will hit the price they want. Staying away from this kind of trade will save your money and your mind.

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Quote from: kawetsriyanto on October 17, 2022, 07:00:12 PM

Of course, without good knowledge, experience, and bad strategy, we will only rely on luck to get profits, otherwise, we will lose our money. This is especially true if we carry out trading activities on the Futures market and with leverage.

I do not really understood you, what did you mean by luck? In trading, there is nothing called luck, if it works for you today, it won't tomorrow and the loss can be very severe in a way trading can take money from traders than gamblers at times. In trading, we do not rely on luck, we make analyses and have strategies that helps in a way we at least make money.

Quote from: Hamza2424 on October 18, 2022, 03:48:30 PM

My own thinking is i have replied to this type of question many times as i have the same point of view again. Why and How can you compare trading with Gambling as Future trades by zero analysis and just bluffing can be called Gambling at some point but in spot bro how it can be gambling? Trade is taken after analysis.

As long as a trader do not make analyses, but just trading, it can be called gambling, be it in spot or future trading. I remember I started with spot trading, I gambled (traded) and lost a lot of money, but leveraging makes the risk highly higher. Also was a friend of mine that won big and lost all after using trading to gamble.

lalabotax

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Although it should be, trading is not gambling, but in fact, many people are gambling on trading. Why? because, they do not have sufficient knowledge to be able to analyze chart indicators in the market. What's more, they are beginners who don't really understand trading activities, so it seems like they just rely on chance, that is, hopefully profit.

Meanwhile, a professional trader should have their own benchmarks and strategies to analyze various market possibilities and anticipate losing money when the market suddenly changes course and does not match the initial prediction.

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Quote from: sheenshane on October 15, 2022, 06:43:36 PM

Trading is trading and gambling is gambling they've differences from each other.

Yes, trading is trading while gambling is gambling but if we research the concept of each two we still they are almost the same and this I believe is the reason people (including myself) consider trading to be a form of gambling because the next trend illustrates by the chart candle does not justify the end result. However, there's always what to do if the market's next trend is not in favor but not getting the correct result at a certain point making it look like gambling.

Mahanton

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Quote from: Mpamaegbu on October 18, 2022, 03:33:54 PM

Quote from: walker_/L on October 15, 2022, 03:40:19 PM

The problem was that I was using my limited knowledge and at that point all I was doing was like trying to find something elusive.

You get things elusive in gambling while in trading you know there are products involved to be exchanged, one for another. I know the thought of people yolking trading and gambling as same will come from the feeling that both can't be touched or felt as tangible products. Those who truly trade know that trading isn't synonymous with gambling. It's buying and selling, simple.

They arent pertaining about on buying or selling procedure but rather they are really that talking about the risk involved or on how its been done.We arent that blind that comparing
a career or activity which could be considered as an investment or something correlated which is on trading unlike when we do gamble then it would be basically be talking about
leisure time or entertainment.You cant really make up some comparison in between things which are dedicated or created for different purpose.
Well yes when it comes to risk been put up then it would be the same on some situations but they are entirely different on what are the fundamentals or overall operation.

Hamza2424

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My own thinking is i have replied to this type of question many times as i have the same point of view again. Why and How can you compare trading with Gambling as Future trades by zero analysis and just bluffing can be called Gambling at some point but in spot bro how it can be gambling? Trade is taken after analysis.

Topic: How much gambling is in trading cryptocurrencies? - page 4. (Read 926 times)