Journey from gambling to trading - page 12.

Kevin43

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Quote from: Noah14 on October 31, 2018, 06:17:55 AM

When i started trading i didn't know about money management , risk to reward , psychology and many things
I was just putting money and watching that i would make profit after some days i made a huge loss and i knew after losing that i was gambling
now i am have learnt many things about trading and now making little profits
My last saying is never put your hard earned money in to market before learning , it will take lot of time and effort to make profits, 1st learn then earn don't c profits while learning

learning from beginning mistakes is very valuable it will teaches many things also if we continue our beginning mistakes it will be continuing gambling , we have to lean understand and convert gambling to trading this is what many pro did at there beginning any way you have learnt from the mistakes in future you will be successful

adamlillian

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Quote from: Noah14 on October 31, 2018, 06:17:55 AM

When i started trading i didn't know about money management , risk to reward , psychology and many things
I was just putting money and watching that i would make profit after some days i made a huge loss and i knew after losing that i was gambling
now i am have learnt many things about trading and now making little profits
My last saying is never put your hard earned money in to market before learning , it will take lot of time and effort to make profits, 1st learn then earn don't c profits while learning

To avoid the blunders and make your money lose a ridiculous amount, we need to invest in education before practicing. Knowledge in the field of investment is very important and we all need to undergo a course to gain more experience.

Semaj123

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Quote from: btc78 on November 04, 2018, 11:33:01 PM

Quote from: Noah14 on October 31, 2018, 06:17:55 AM

When i started trading i didn't know about money management , risk to reward , psychology and many things
I was just putting money and watching that i would make profit after some days i made a huge loss and i knew after losing that i was gambling
now i am have learnt many things about trading and now making little profits
My last saying is never put your hard earned money in to market before learning , it will take lot of time and effort to make profits, 1st learn then earn don't c profits while learning

This is what we al does as newbie traders and the losses is part of being mature in this of society when everything relies on volatility i have been a loser once when i am starting but now i can say that trading is one of my profitable places.ofcourse second to our family business that me and my brother runs for almost 10 years now,

Learning from mistakes makes us to be more careful and a better trader. We should always think that this is not a rich-quick scheme as what the others always telling about. Trading cryptocurrencies needs constant monitoring which means we need to set a plan on how we are going to do it.

jojowar

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I agree with you, if you didn't study first what is trading in cryptos and make some analysis then your probability to gain profit is too little.

mkhadazz

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when you switch to trading it is the best choice and the right choice because if you are still in the gambling world it will make you experience a lot of losses because when you lose then you will lose assets that you have not left directly. whereas when you trade when the price falls you can still hold and will not lose the assets you have when the price falls and sells when the price has risen again.

Noah14

newbie

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Quote from: David78k on November 05, 2018, 06:30:14 AM

Quote from: Noah14 on October 31, 2018, 06:17:55 AM

When i started trading i didn't know about money management , risk to reward , psychology and many things
I was just putting money and watching that i would make profit after some days i made a huge loss and i knew after losing that i was gambling
now i am have learnt many things about trading and now making little profits
My last saying is never put your hard earned money in to market before learning , it will take lot of time and effort to make profits, 1st learn then earn don't c profits while learning

At beginning many traders do see trading as gambling and do gambling also , but when they lose money and start studying they realize that trading involves many things and trading is different from gambling

yes at beginning even i experienced same and after learning trading was way different from gambling

David78k

newbie

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Quote from: Noah14 on October 31, 2018, 06:17:55 AM

When i started trading i didn't know about money management , risk to reward , psychology and many things
I was just putting money and watching that i would make profit after some days i made a huge loss and i knew after losing that i was gambling
now i am have learnt many things about trading and now making little profits
My last saying is never put your hard earned money in to market before learning , it will take lot of time and effort to make profits, 1st learn then earn don't c profits while learning

At beginning many traders do see trading as gambling and do gambling also , but when they lose money and start studying they realize that trading involves many things and trading is different from gambling

Victorycoin

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Quote from: leowonderful on October 31, 2018, 11:54:32 AM

If you’re inexperienced and trade based on emotion, it is entirely possible that trading can be gambling. Like anything else, trading requires experience more than anything, and that’s something you can only gain with time.

That's right, trading can be nothing different from gambling based on approach. Overtime with practice, a trader most likely becomes more knowledgeable - knowing how to demystify and surf the market waves and that is where guess work, shooting in the air or gambling ends.

Quote

I agree with most of your tips, but it’s okay to start with a small amount of money you can afford to lose at first. It’ll help you trade realistically and you’ll gain experience with actual trading by doing so. Some sites also offer demo trading accounts where you can learn to trade on your own without investing any money.

The mind need to be taken off profit making and focused on learning then the money would be sure to come later.

Iykecollinz

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I think this is the case for everyone that had started out trading without prior training or learning. Majority of us came into cryptocurrency with the mindset that it is a continuous bull market with quick rich ability. After few investments and having incurred some losses and seeing the fluctuations there in, It is then dawned on one to learn how it could be of immense benefits to learn how to do the trades. So many exaggerations and high expectations are reasons for gambling. You are not left alone on the story, a lot of us have had the experience while a lot still do.

yanto@1977

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Quote from: Noah14 on October 31, 2018, 06:17:55 AM

When i started trading i didn't know about money management , risk to reward , psychology and many things
I was just putting money and watching that i would make profit after some days i made a huge loss and i knew after losing that i was gambling
now i am have learnt many things about trading and now making little profits
My last saying is never put your hard earned money in to market before learning , it will take lot of time and effort to make profits, 1st learn then earn don't c profits while learning

Gambling is not trading and people who have faith that trading is easy, please leave trading right now and never come back again. First thing we should have is the right mindset about trading, in this activity risk is part of it. Until now never know people never loss but I believe some people have better future with trading. So, let's fix mindset, learn the market work and practice.

btc78

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Quote from: Noah14 on October 31, 2018, 06:17:55 AM

When i started trading i didn't know about money management , risk to reward , psychology and many things
I was just putting money and watching that i would make profit after some days i made a huge loss and i knew after losing that i was gambling
now i am have learnt many things about trading and now making little profits
My last saying is never put your hard earned money in to market before learning , it will take lot of time and effort to make profits, 1st learn then earn don't c profits while learning

This is what we al does as newbie traders and the losses is part of being mature in this of society when everything relies on volatility i have been a loser once when i am starting but now i can say that trading is one of my profitable places.ofcourse second to our family business that me and my brother runs for almost 10 years now,

Strongkored

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Quote from: jrrsparkles on November 04, 2018, 08:02:26 AM

But still lot of people were doing trading as gambling that is why they are crying after their loss they didn't prepare well for their trading.When to start buying and when to sell their coins re the real work of the traders but the people who are doing it as gambling will do it in the opposite direction of buying when the prices at high and sell when the prices got decreased.I agree that start doing trading and look for the profits once you learned.

People who trade as gambling because they think simple is buying cheap selling expensive without understanding that trading is more than that, how to understand the market situation and how much money you can afford to lose is also important to consider.

Zalura

newbie

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Quote from: Noah14 on October 31, 2018, 06:17:55 AM

When i started trading i didn't know about money management , risk to reward , psychology and many things
I was just putting money and watching that i would make profit after some days i made a huge loss and i knew after losing that i was gambling
now i am have learnt many things about trading and now making little profits
My last saying is never put your hard earned money in to market before learning , it will take lot of time and effort to make profits, 1st learn then earn don't c profits while learning

indeed, in a business we are required to learn, but I feel an understanding of a situation that can suddenly change is very difficult, in addition to the need for good mental trade is also very needed by teachers who always direct us to act not recklessly, so in Bitcoin business is unique because profits can occur suddenly but can also reverse losses suddenly ...

BitHodler

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Quote from: vixcious on November 03, 2018, 07:09:59 AM

That's right, we should spend money on studying before practicing anything. Because investment is a field that requires broad knowledge of economics and financial indicators. If we do not understand that, we will be very easy to invest blindly and be considered gambling.

How often do these indicators in crypto actually lead to anything? People guessed so much left and right in the last months, that they finally accepted that the market isn't going to do much other than to hover around $6500.

The descending triangle that people were eagerly looking forward to with how they believed it would result in a massive breakout didn't lead to anything. Here we are still moving sideways, and there doesn't seem to be an end in sight.

People need to admit that they are guessing at best, even when it is based on whatever form of analysis. I don't see traders for once admit that there isn't much to gain here, and that it's not as profitable as people think it is. That's honesty.

john_nautica

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Quote from: Noah14 on October 31, 2018, 06:17:55 AM

When i started trading i didn't know about money management , risk to reward , psychology and many things
I was just putting money and watching that i would make profit after some days i made a huge loss and i knew after losing that i was gambling
now i am have learnt many things about trading and now making little profits
My last saying is never put your hard earned money in to market before learning , it will take lot of time and effort to make profits, 1st learn then earn don't c profits while learning

gambling will only make you lose, good management is also a factor why gambling is never good. so I think trading with good management can be used as the best choice and it will still continue to be useful for future profits.

nasipadang

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Quote from: Noah14 on October 31, 2018, 06:17:55 AM

When i started trading i didn't know about money management , risk to reward , psychology and many things
I was just putting money and watching that i would make profit after some days i made a huge loss and i knew after losing that i was gambling
now i am have learnt many things about trading and now making little profits
My last saying is never put your hard earned money in to market before learning , it will take lot of time and effort to make profits, 1st learn then earn don't c profits while learning

That's what is often experienced by traders or investors who have new entered the crypto world, they are not aware that the market can also be manipulated, the crypto market is very volatile and the risks are very high, this is also one of the factors why we are often bearish now this. Learning about the place we are going to pass is very important to be able to fight and not make a wrong decision.

rickadone

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Quote from: Noah14 on October 31, 2018, 06:17:55 AM

When i started trading i didn't know about money management , risk to reward , psychology and many things
I was just putting money and watching that i would make profit after some days i made a huge loss and i knew after losing that i was gambling
now i am have learnt many things about trading and now making little profits
My last saying is never put your hard earned money in to market before learning , it will take lot of time and effort to make profits, 1st learn then earn don't c profits while learning

Actually they are not wildly different. I mean in gambling there is a house edge that will make sure you will not make money on the long term whereas in the trading world you will make money on the long term if you do not sell before profiting.

Nevertheless the similar side is that it requires strong will and less emotions involved, if you try to chase your losses in gambling than you will eventually lose all of your money, in trading if something you bought dropped you need to wait until it goes back up (if it is a good coin and not some scam coin in which case you should cut the loss and get out) so patience is surely the best things you could do in both of them. The point is gambling gives you an experience about not chasing losses and not acting impulsive and try to do silly stuff, that will help you during trading.

jrrsparkles

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Quote from: Noah14 on October 31, 2018, 06:17:55 AM

When i started trading i didn't know about money management , risk to reward , psychology and many things
I was just putting money and watching that i would make profit after some days i made a huge loss and i knew after losing that i was gambling
now i am have learnt many things about trading and now making little profits
My last saying is never put your hard earned money in to market before learning , it will take lot of time and effort to make profits, 1st learn then earn don't c profits while learning

But still lot of people were doing trading as gambling that is why they are crying after their loss they didn't prepare well for their trading.When to start buying and when to sell their coins re the real work of the traders but the people who are doing it as gambling will do it in the opposite direction of buying when the prices at high and sell when the prices got decreased.I agree that start doing trading and look for the profits once you learned.

Noah14

newbie

Activity: 70

Merit: 0

Quote from: vixcious on November 03, 2018, 07:09:59 AM

That's right, we should spend money on studying before practicing anything. Because investment is a field that requires broad knowledge of economics and financial indicators. If we do not understand that, we will be very easy to invest blindly and be considered gambling.

if we dont spend any money there is no leaning and there is no earning we should pay fee for learning in training or to market

Barbut

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Quote from: upsidedown75 on November 03, 2018, 08:04:57 AM

Quote from: karungbitcoin on October 31, 2018, 08:51:23 PM

Yes when first jump in to trading, we should be more focus to learn about management of risk and money and dont set the target profit first, the more important thing how to minimize the risk first. And after we have some strategies to minimize the risk and then we can set the target monthly profit. So make risk management is very important first.

I was also guilty of this at first, but my determination actually helped me over the years and I realized that eventually the time I was using to do trial and error, I would not have taken that much of a time to learn and start doing things right.

All you need is just a good strategy, confidence in executing the strategy without emotions, understanding the importance of reward risk ratio and money management and you will find yourself doing better over time. Those who have no strategy when it comes to trading are just busy gambling, and until you give yourself some brain, and you do things the right way, you will just keep making silly mistakes.

You are not guilty for anything, for every knowledge we need to pay something, somehow. When you can lose just money its the most simplest, you have money for practice, you tried things, you learned about everything. When you don`t have money you need to lose a lot of time and energy to learn something.
Most of us, if not all, lost a lot in trading and gambling before we learned how to take care of bankroll management, before we learned all the tricks, and come to the point where we earn more than we lose.

Topic: Journey from gambling to trading - page 12. (Read 2857 times)