Journey from gambling to trading - page 15.

mornabo

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Quote from: bitmover on October 31, 2018, 05:42:13 AM

Depending on how you trade it is still gambling.

You are like betting the price will move on the direction you bet.

Because without knowledge capital then you just go back to gambling in trading. you have to learn first about the market, its changes, what instruments affect the market, how to analyze and so on, don't let you try but you don't understand it, because you dont want to repeat mistakes the same as in gambling right?

DarkBullet

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Trading is similar to gambling where you may lost or win when requesting to buy or sell and altcoin. The only difference is that risk csn br manage in trading while in gambling, you only rely in pure luck. You can make proper decisions in trading by applying TA and FA. It really is not advisable to trade if you don't know what are those risk you will be facing.

Lan75

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Quote from: Noah14 on October 31, 2018, 05:17:55 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

It maybe a painful lesson you have here but it is not yet over and not yet too late. There are many of us here who experience the same as you and i think it is a normal thing to think that we will become rich here quickly but it's not. We should fully educate ourselves and learn the things how crypto should work to our advantage.

The Sceptical Chymist

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Quote from: Noah14 on October 31, 2018, 05:17:55 AM

now i am have learnt many things about trading and now making little profits

This post is useless, since you haven't explained what exactly it is that you learned which turned you from a gambler to what you consider a "trader". It's not helpful for anyone, and for all we know you could just be telling us a story.

Quote from: bitmover on October 31, 2018, 05:42:13 AM

Depending on how you trade it is still gambling.

Investing in any crypto is gambling, I don't care what anyone else says. These coins on exchanges may as well be horses running around on a track with people betting on the winner. There's nothing to analyze except for news (and much of that is just hype) and rumor. Sounds like OP got lucky and thinks he gained some sort of wisdom from his luck.

karungbitcoin

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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.

Biscutard

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Quote from: Noah14 on October 31, 2018, 05:17:55 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

It may be the hardest lessons that you learned from life but the essence of it all is to let you learn from it and now you just learn from it. Now, for the gambling you might learn another lesson again if you made a big mistakes while in gambling because most people under in it without the control of their self will also suffer the great cause of their actions.

kryptqnick

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Quote from: Noah14 on October 31, 2018, 05:17:55 AM

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
1st learn then earn don't c profits while learning

What about another opinion that practice is essential to learn? If you don't make mistakes in investments, you will not know how to make things otherwise. Both gabling and trading are really mostly leading to losses of funds. Of course, both have exceptions like professional poker players or traders. If you want to earn money, it's better to find a stable job. The market's bearish, people are dumping it regularly, so it's not the best time to try trading. What you could try is invest your money long-term while earning from working. If you want to connect your life with cryptos, start from bounties, try translating documents and writing articles. Good luck!

dzhan

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Quote from: Noah14 on October 31, 2018, 05:17:55 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

Trading is surely much safer than gambling and a lot better. But as you noticed in your topic, the knowledge is highly required before starting with this field, because even trading includes a level of risk, and without a good knowledge you risk losing your hard earned money.

lolxxxx

legendary

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Quote from: Noah14 on October 31, 2018, 05:17:55 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

Well at lesat you have learnt something from it and I congragulate for this winning as you have stopped gambling and came to trading which is more secure and gives healthy profit. Secondly gambling is just waset of money the house always wins so it is awesome that you have came to trading I am happy for you. I hope you get profit in trading and hope you learn some skills of trading.

LSt56

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Quote from: Noah14 on October 31, 2018, 05:17:55 AM

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

Of course, it's not easy to do that.
Trading will always require time or process to get decent profits according to how much we try to keep learning until we reach the next stage in trading.

dothebeats

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Trading is partly gambling IMO as you're betting with the choices you made without any assurance that you'll profit in the end. Also, knowing that the markets are places of extreme dynamism, you must always be ready to face losses and move on with a better plan. I learned this in the hard way when I lost a significant amount of trading money in a coin that's performing pretty well for a month only to have its numbers brought down without any form of warning or hint that it will crash.

Oh and as always, never try to invest what you can't afford to lose.

liuqi

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Quote from: Noah14 on October 31, 2018, 05:17:55 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

All the beginners are cross the same story but no one is said openly because they are all gain some knowledge in next trading so they will never loose the hope in trading platform. Most of the investors are trying to improve our knowledge each investment so everything is a good experience in crypto platform.

leowonderful

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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. 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.

lamadu3

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Quote from: Noah14 on October 31, 2018, 05:17:55 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 for me. You can become addictive to it, forget about real life and finally, even lose all of your money. Trading is something that gives me not only the profit but a lot of confidence, man.

steve57

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title is good Grin

many of them start from gambling many leave market after gambling , and many rectify there mistakes and learn and continue to trading
its good to hear that you have learnt from mistakes and making profits

dunfida

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Quote from: Noah14 on October 31, 2018, 05:17:55 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

Rushing your self into things directly without even knowing or doesn't have any plan or idea will really put you into trouble or simply you would really lose up money.
Trading can really be like gambling but in those times where you are putting or carelessly making trade orders without any basis. Even we know trading is better than gambling these kind of times
that we can actually tell that they are the same on that exact situation. Therefore, don't rush things up because trading cant really be learn overnight.

arpon11

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Quote from: Noah14 on October 31, 2018, 05:17:55 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

I agree with you and learning process in trading is very expensive. If you really want to trade the first thing to do is to spend quality time demo trade or fund your trading account with little fund and trade with it. The process of learning is the most important time of all. If you have no idea on how cryptocurrencies market work there is no need of going into trading and whatever you do you are actually gambling.

juperos

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Quote from: Noah14 on October 31, 2018, 05:17:55 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

I totally agree with your opinion. Because I've had the same mistake. I was stupid to invest all my money and not have to spend my life and some other money to solve. It made me very depressed and so I had to sell it for a low price. Know how to manage your finances before investing. That is a very important skill.

bitmover

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Quote from: Noah14 on October 31, 2018, 06:27:13 AM

No it is analyzing where price moves finding probability of next move and trading with good risk reward

it is not betting ,

betting does not involves any analysis or money management

I don't agree with that.
When you bet in a sport team, or a fighter, you are able to analysis who are betting and his opponent, and decide based on probability and statistics.

Ta is somehow statistic as well, and may be less precise than this sport analysis

Noah14

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Quote from: bitmover on October 31, 2018, 05:42:13 AM

Depending on how you trade it is still gambling.

You are like betting the price will move on the direction you bet.

No it is analyzing where price moves finding probability of next move and trading with good risk reward

it is not betting ,

betting does not involves any analysis or money management

Topic: Journey from gambling to trading - page 15. (Read 2883 times)