Luck is what you need in gambling but you have to get to work with trading - page 2.

palle11

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Quote from: Captain Corporate on June 29, 2023, 05:51:19 PM

Thats why I believe if you do something better, I think it will become a bit harder to fail if you enjoy it, and if you want to enjoy it then you need to make it fun to study, and breaks are very big parts of it.

To succeed in what you do, you need strong passion for it. Passion is the key to success that is if you are enjoying what you are doing. Some people only want to force themselves into trading because of what they feel will come out of it and they don't go through the process judiciously. Management is important skill in trading but giving up is an option if it won't work.

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Quote from: mirakal on June 29, 2023, 04:45:25 PM

Trading is a lot more complex than just gambling and you have to develop the best within you so you can trade and expect positive outcome. Which I think very rare to happen in gambling since all you need is a handful of money and you’re good to go. With luck on you, you’ll be taking advantage and make multiple winnings but if you’re unlucky, you will leave the casino with empty wallet. But with trading, everything is different. You need to work hard to gain the requirements before you trade so you’ll be trading while minimizing the risk from losing your money.

Trading and gambling must both have financial management and risk management, it will affect the results or profits. Although gambling will also be affected by luck. Trading depends on how we analyze the market, develop strategies and how to use capital to trade by taking advantage of any fluctuations.
Trading also has a considerable risk of losing, but it will be gradual unlike gambling which will be lost in an instant. But when it comes to futures trading, it is also dangerous, the use of high leverage will make capital liquidated if the prediction is wrong and the funds will be lost all.

Inspiron14

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Quote from: Farma on June 29, 2023, 10:08:09 PM

Quote from: mirakal on June 29, 2023, 04:45:25 PM

Trading is a lot more complex than just gambling and you have to develop the best within you so you can trade and expect positive outcome. Which I think very rare to happen in gambling since all you need is a handful of money and you’re good to go. With luck on you, you’ll be taking advantage and make multiple winnings but if you’re unlucky, you will leave the casino with empty wallet. But with trading, everything is different. You need to work hard to gain the requirements before you trade so you’ll be trading while minimizing the risk from losing your money.

well, apart from that in trading, the number of coins we hold will always be the same, it's just that the price will be different. in a casino, you will lose all the money you have when you lose, whereas in trading, the amount of assets you have remains the same, with changing values. Well, the big point is, in trading, you buy something in the hope that the price of the thing you buy will have a high price. We hope not without foundation, but look at the conditions, benefits, and many things from the products we buy. Meanwhile, in gambling, you are actually risking the money you have on an option, where if you choose the wrong one, you will lose all the money you have in an instant.

I think your explanation is correct and what is clear is that gambling only requires luck to win,
for trading obviously it does not apply because we need to have the knowledge and skills to support,
Trading is much friendlier than gambling.

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Quote from: mirakal on June 29, 2023, 04:45:25 PM

Trading is a lot more complex than just gambling and you have to develop the best within you so you can trade and expect positive outcome. Which I think very rare to happen in gambling since all you need is a handful of money and you’re good to go. With luck on you, you’ll be taking advantage and make multiple winnings but if you’re unlucky, you will leave the casino with empty wallet. But with trading, everything is different. You need to work hard to gain the requirements before you trade so you’ll be trading while minimizing the risk from losing your money.

well, apart from that in trading, the number of coins we hold will always be the same, it's just that the price will be different. in a casino, you will lose all the money you have when you lose, whereas in trading, the amount of assets you have remains the same, with changing values. Well, the big point is, in trading, you buy something in the hope that the price of the thing you buy will have a high price. We hope not without foundation, but look at the conditions, benefits, and many things from the products we buy. Meanwhile, in gambling, you are actually risking the money you have on an option, where if you choose the wrong one, you will lose all the money you have in an instant.

Captain Corporate

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Working hard to be a great trader is time consuming and mentally draining job. I know a ton of people who tried their best to be a better trader and eventually they got burned out from all the hard work required for it. I understand the feeling of it because when you work that hard, it becomes very tough to keep it going for a long time as well. It would be wise to just give up if you can and do a better job when you get the chance. If you can give breaks here and there then you are going to be doing a lot better, just constantly working on it will not make you better. Thats why I believe if you do something better, I think it will become a bit harder to fail if you enjoy it, and if you want to enjoy it then you need to make it fun to study, and breaks are very big parts of it.

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Quote from: jossiel on June 29, 2023, 02:06:42 PM

Quote from: xSkylarx on June 27, 2023, 09:39:51 PM

Quote from: jossiel on June 27, 2023, 07:35:58 PM

Quote from: palle11 on June 27, 2023, 05:48:00 AM

Any trader that gambles on the trading will keep gambling on it until he learns how to use the non gambling features of trading.

That trader should have just gambled instead of gambling but, if he insists and continues doing that. It's for sure that he'll learn that he shouldn't be doing that.

And instead, the lessons that he'll learn will be there but it's gonna be quite expensive because if his approach is just like he's gambling, that's a terrible idea and should have just gone to casino instead of trading platforms.

For sure, the mindset of the trader is only gambling, and he just thinks that the strategy in gambling is the same as in trading, which we know could lead to big losses. Also, if that is his mindset, for sure he will learn a valuable lesson (if he reflects on those mistakes), as it may work at his first trade, but for the next trade, for sure, it is against the trader. But right now, most of the traders are aware that trading is not like gambling unless they are super lucky and win their entries, but most of them are developing their own strategy for their trades.

There can still be beginners luck which also happens in trading. But then, realizing all of the things that circulates in trading, it's not the same as gambling.

So this varies from the point of view of a gambler looking at trading and a trader looking at gambling. The thought that it all starts is because both do agree that the risk is there.

And that risk measured depends on the outlook of the person looking at it.

Yep. we do really have that beginners luck on which it would really be just that normal that we might be able to experience some wins or profits on initial engagement but on the time that you would really be doing this
and turns out that you are experiencing losing money then this is where realization would really be happening. Gambling and trading might be having some similarities when it comes to risks but the level in between both
things would be different.

There is a right approach when you do trade and theres a right approach when you do gamble which it is really that totally different. We know trading is for long term and gambling is for leisure and entertainment.
You cant really be able to collide both things to be similar because it is really just truly that different. Trading would really be turning out to be a gambling is on the time that you wont really be putting
any analysis with your trading decisions which is something that we do really need to avoid. You would once realize these things when you do have that actual dealing with these things.

mirakal

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Trading is a lot more complex than just gambling and you have to develop the best within you so you can trade and expect positive outcome. Which I think very rare to happen in gambling since all you need is a handful of money and you’re good to go. With luck on you, you’ll be taking advantage and make multiple winnings but if you’re unlucky, you will leave the casino with empty wallet. But with trading, everything is different. You need to work hard to gain the requirements before you trade so you’ll be trading while minimizing the risk from losing your money.

Japinat

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Both requires luck as the goal is to create multiple profits but trading demands more of a working process and a long time preparation before you finally decide to trade and risk your money. That’s why since trading needs more analytical and fundamental skills to trade, the probability to be in consistent profits is high unlike in gambling that you can just risk your money until everything is used up especially if you are gambling without control and discipline. However, if you trade like totally gambling, like you don’t need knowledge and skills to succeed, then you’ll end up like almost all gamblers experienced.

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Quote from: xSkylarx on June 27, 2023, 09:39:51 PM

Quote from: jossiel on June 27, 2023, 07:35:58 PM

Quote from: palle11 on June 27, 2023, 05:48:00 AM

Any trader that gambles on the trading will keep gambling on it until he learns how to use the non gambling features of trading.

That trader should have just gambled instead of gambling but, if he insists and continues doing that. It's for sure that he'll learn that he shouldn't be doing that.

And instead, the lessons that he'll learn will be there but it's gonna be quite expensive because if his approach is just like he's gambling, that's a terrible idea and should have just gone to casino instead of trading platforms.

For sure, the mindset of the trader is only gambling, and he just thinks that the strategy in gambling is the same as in trading, which we know could lead to big losses. Also, if that is his mindset, for sure he will learn a valuable lesson (if he reflects on those mistakes), as it may work at his first trade, but for the next trade, for sure, it is against the trader. But right now, most of the traders are aware that trading is not like gambling unless they are super lucky and win their entries, but most of them are developing their own strategy for their trades.

There can still be beginners luck which also happens in trading. But then, realizing all of the things that circulates in trading, it's not the same as gambling.

So this varies from the point of view of a gambler looking at trading and a trader looking at gambling. The thought that it all starts is because both do agree that the risk is there.

And that risk measured depends on the outlook of the person looking at it.

radjie

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Opinions about trading and gambling I often hear from several people who think the way the two work is exactly the same, according to them the aim of trading and gambling is to multiply the money spent.
But in my personal opinion, this statement is clearly very different, most people who gamble get their wins based on luck and with a little skill, they risk their money by playing with many people or with the gambling platform system itself.
And trading itself makes purchases at prices that we set with the achievement of profits that we can measure by itself according to the achievement of the desired target

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Quote from: palle11 on June 18, 2023, 06:06:34 AM

I have read many discussions about trading and gambling, some people have rather joined the two as gambling. That is not totally true. For traders who agree that trading is same with gambling, they are just lazy to go into work and adopt the ethical way to trade and those are:

Trading and gambling can never be the same. Trading is a business. For example, if you buy a product physically for business purposes, you can never guarantee that you will always be able to sell that product at a profit because market conditions may require you to sell it at a loss. And you can hold that product without selling it until the price rises again. Trading is just like that only here you have to buy a digital asset without buying any physical product.
But in case of gambling it is completely different, in this case you have to make a prediction and if your prediction is correct then you can get multiple times of your staked money as odds. and if your predictions don't come true, you lose all your money. So of course trading and gambling cannot be one and the same

gunhell16

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We know that trading and gambling are not the same. The others here are trying to say that trading is like gambling, when trading becomes just like gambling, you are not betting here, you are a trader in trading. Whereas in gambling there is nothing like that, as long as you bet and if you are lucky you will win instantly and you will have an immediate income.

While in trading you need to develop your skills here, you must know how to use the tools that are used in the trading view or any exchange platform so that you can trade, and use this analysis either technical or fundamental. Why? is there technical and fundamental analysis in gambling? isn't there anything?

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Quote from: palle11 on June 18, 2023, 06:06:34 AM

Trading is not gambling. You require luck in gambling but you require work in trading.

What is your thought.

Having no experience and knowledge from trading, you will simply think that it is all about luck like how gambling does. But this will eventually change once have an experience and there to find out that trading never works as we like if we don't work on it. In fact, we have these trading tools as necessary which we don't use in gambling and that is because the two are different things.
Until there are people who got into trading without product trading education, luck is always on their mind and their actions.

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Quote from: Peanutswar on June 27, 2023, 11:23:58 PM

You can define in an easy way gambling and trading, in trading you are using all of your knowledge, skills, and experience and execute those in your target position. This now depends on the market price movement. With the help of technical analysis, you can make changes to your trading plan or hit the base on your plotted prediction, its not a hundred percent accurate but it has the chance to know the possible next move of the market, in gambling you are letting yourself that the machine makes an earning to you but this is by chance because its an auto-generated unless you are playing with the strategy game. Still, you don't have a clue what are the cards or strategies other players will do to win. Its seems like knowledge versus luck in that case.

which is why the OP said trading takes work. and traders who have gambled also must be able to tell the difference. those who still cannot distinguish between trading and gambling, I still believe that he is a novice trader. or maybe he managed to make a trade by his luck, so randomly set up positions to sell and buy and coincidentally made a profit. so he can't tell the difference between his luck in trading and his luck in gambling.

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You can define in an easy way gambling and trading, in trading you are using all of your knowledge, skills, and experience and execute those in your target position. This now depends on the market price movement. With the help of technical analysis, you can make changes to your trading plan or hit the base on your plotted prediction, its not a hundred percent accurate but it has the chance to know the possible next move of the market, in gambling you are letting yourself that the machine makes an earning to you but this is by chance because its an auto-generated unless you are playing with the strategy game. Still, you don't have a clue what are the cards or strategies other players will do to win. Its seems like knowledge versus luck in that case.

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Quote from: jossiel on June 27, 2023, 07:35:58 PM

Quote from: palle11 on June 27, 2023, 05:48:00 AM

Any trader that gambles on the trading will keep gambling on it until he learns how to use the non gambling features of trading.

That trader should have just gambled instead of gambling but, if he insists and continues doing that. It's for sure that he'll learn that he shouldn't be doing that.

And instead, the lessons that he'll learn will be there but it's gonna be quite expensive because if his approach is just like he's gambling, that's a terrible idea and should have just gone to casino instead of trading platforms.

For sure, the mindset of the trader is only gambling, and he just thinks that the strategy in gambling is the same as in trading, which we know could lead to big losses. Also, if that is his mindset, for sure he will learn a valuable lesson (if he reflects on those mistakes), as it may work at his first trade, but for the next trade, for sure, it is against the trader. But right now, most of the traders are aware that trading is not like gambling unless they are super lucky and win their entries, but most of them are developing their own strategy for their trades.

jossiel

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Quote from: palle11 on June 27, 2023, 05:48:00 AM

Any trader that gambles on the trading will keep gambling on it until he learns how to use the non gambling features of trading.

That trader should have just gambled instead of gambling but, if he insists and continues doing that. It's for sure that he'll learn that he shouldn't be doing that.

And instead, the lessons that he'll learn will be there but it's gonna be quite expensive because if his approach is just like he's gambling, that's a terrible idea and should have just gone to casino instead of trading platforms.

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Quote from: Dr.Bitcoin_Strange on June 25, 2023, 04:55:36 PM

Quote from: Dr.Osh on June 25, 2023, 08:17:05 AM

quite a lot of people think that trading is the same as gambling. well, they baselessly say that. quite a few people are creating classes to teach others about trading and how to trade from all aspects. in fact, some people are willing to pay to get information about what they are going to trade.

Yeah, it has been an argument several times, both on this forum and outside here. Some people think that as long as one can gamble, they can also trade perfectly because they can just choose a coin to buy and sell off if the price just grows a bit. But gambling requires a whole lot of knowledge and ideas put together before you can make some more successful trades; otherwise, there will only be losses to encounter. Gambling is a pure bet on luck, almost 99% luck and just 1% skill. No matter how much skill you have in gambling, you will not make any win without luck on your side.

Trading and gambling could look like it's all depends on luck but it is not. For us to win in gambling might require us to develop more luck skill than when you compare to trading. Trading is very different but sometimes there are people who are very luxky so they could keep making profits from trading due to the luck they gave. This is why hard work pays in trading. You need to get prepared and analyse the market at the early time before decide to get into the market to start trading. Trading is like a quick way to make money, that is if we know what we are doing. That is the reason why many persons would always to learn trading.

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Quote from: palle11 on June 18, 2023, 06:06:34 AM

Trading is not gambling. You require luck in gambling but you require work in trading.

You should instill this thought on your mind that trading isnt gambling on which it doesnt really need that gambler like approach on the time that you do make out trading because if you do then you would definitely be

putting up yourself into trouble since those trading position of yours would really be most likely be ending up on losing money instead of earning.If you dont have plans on doing hard work on trading then better you should be dealing with gambling on which it is less hassle and less complicated but of course everything would really be relying on luck on which it is something that you would really be doing when you do gamble.
Trading is different which it would be needing that different approach on which it is something that would really be that normally be making those strategic approach which would really be
putting you at advantage.

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Quote from: palle11 on June 18, 2023, 06:06:34 AM

I have read many discussions about trading and gambling, some people have rather joined the two as gambling. That is not totally true. For traders who agree that trading is same with gambling, they are just lazy to go into work and adopt the ethical way to trade and those are:

1. To cut your losses and increase your profit: You can conveniently do this by using stop loss or take profit adjustment or trailing stop but in gambling, is one straight end once you have gone on the bet, you either loss all you bet or win or you bet for.

Obviously there is nothing like Stop Loss in gambling unlike trading where a Stop loss can be placed at a few distance from the last swing, Resistance or Support with a specified Take profit, you can place a buy or limit order this is not applicable to gambling.

Quote from: palle11 on June 18, 2023, 06:06:34 AM

2. A trader can adjust his risk appetite by reducing or adjusting his lots size to protect his account and determine the appropriate leverage or but in gambling, a bettor has to go with the odds provided for the gay. He can't reduce or increase it against the fixed odds.

This another important aspect of trading risk reduction is very helpful when a trader account is getting low or nearing margin call or liquidation a trader can reduce the lot size or leverage thus with another opportunity to recover losses which isn't available with gambling .

Quote from: palle11 on June 18, 2023, 06:06:34 AM

3. Traders use analytical tools to determine what market price will be and wait for appropriate timing but gamblers play by the rules of casino.

With proper chart analysis trader a trader will in most cases have an edge over the market because trading analysis is very helpful in determining price direction of course there are different types of analysis for traders.

Quote from: palle11 on June 18, 2023, 06:06:34 AM

Trading is not gambling. You require luck in gambling but you require work in trading.

What is your thought.

Unfortunately some newbie traders don't want undergo the rigorous journey of learning how to trade they rather prefer gambling which they believe is the easiest means of earning quick money.

Topic: Luck is what you need in gambling but you have to get to work with trading - page 2. (Read 918 times)