Luck is what you need in gambling but you have to get to work with trading - page 4.

SaveOurSea

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Quote from: wxa7115 on June 24, 2023, 10:12:12 PM

Quote from: Franctoshi on June 23, 2023, 05:05:30 PM

One critical thing that differentiates Trading from gambling is that in trading, you are in control and not about influencing the market, but in management of your trading decisions, basically about when to enter and exit the market, when to seize a profit, and when to close a losing trade. You would have more chances of profiting in trading than you would have in gambling if you put more effort into learning about trading, whereas in gambling, even when you are good, you can't change things, for example, in football matches, the players do not even know what will be the outcome of their game.

When it comes to gambling you are given a set of odds by the casino and you have no other choice but to accept it and play with them, but trading is different in the sense that by just waiting you can change the odds of your trade being profitable or not.

This is done by taking the most optimal entry point that you can, and in the most perfect scenario you can get, like those buying at the bottom, your chances of winning are of 100%, something which is simply impossible to have on any gambling game.

That's why gambling basically won't give you consistent profits on an ongoing basis,
obviously it's different from trading because we determine the profit or not,
so don't expect more from gambling and it's just a waste of time.

wxa7115

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Quote from: Franctoshi on June 23, 2023, 05:05:30 PM

One critical thing that differentiates Trading from gambling is that in trading, you are in control and not about influencing the market, but in management of your trading decisions, basically about when to enter and exit the market, when to seize a profit, and when to close a losing trade. You would have more chances of profiting in trading than you would have in gambling if you put more effort into learning about trading, whereas in gambling, even when you are good, you can't change things, for example, in football matches, the players do not even know what will be the outcome of their game.

When it comes to gambling you are given a set of odds by the casino and you have no other choice but to accept it and play with them, but trading is different in the sense that by just waiting you can change the odds of your trade being profitable or not.

This is done by taking the most optimal entry point that you can, and in the most perfect scenario you can get, like those buying at the bottom, your chances of winning are of 100%, something which is simply impossible to have on any gambling game.

mvdheuvel1983

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Skill is also needed in gambling, but it depends on the type of game you are playing. Trading depends both on a combination of luck and skill. We cannot take away that no matter what. Maybe it would be in the ration of luck 20% and skill 80%. The reverse is the case for gambling. I do not think I have seen a book on gambling but there are so many for trading. The main difference is that you cannot get addicted to trading such that it ruins your life but in gambling one can easily get addicted it destroys their life.

worle1bm

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They both are different but some people mix them like trading is also gambling but it's entirely wrong because in trading lot of strategies, research is involved before making any decision and then you have to observe market chart patterns to earn profit but in gambling you place bet and just wait for outcome which will give you profit if you are lucky otherwise you loose your money but that's not the case with trading.So we should not mix them because one is mind game with little luck but the other is luck based only if we leave behind strategy play games like poker.

Franctoshi

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One critical thing that differentiates Trading from gambling is that in trading, you are in control and not about influencing the market, but in management of your trading decisions, basically about when to enter and exit the market, when to seize a profit, and when to close a losing trade. You would have more chances of profiting in trading than you would have in gambling if you put more effort into learning about trading, whereas in gambling, even when you are good, you can't change things, for example, in football matches, the players do not even know what will be the outcome of their game.

Rengga Jati

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Quote from: Awaklara on June 23, 2023, 12:41:21 PM

for some gamblers, the gambling they do also requires work. even in certain gambling it also requires skill. but the results might make a difference in how trading really won't depend on luck alone. different from gambling, which is that after we place a bet, we can only hope that the bet wins.
still, we can say they are different if we do both. then you will know where we gamble or trade.

Yes, I quite agree with this. Not all gambling activities only require luck, there are some that are also based on analysis and also the skills of the gamblers themselves. Meanwhile, luck can be regarded as one of the bonuses that gamblers sometimes have. because the truth is not everyone will always get extraordinary luck. And this also can't be set up anyway to always get luck. therefore gamblers must also be smarter for every strategy and trick used.

molsewid

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Quote from: Awaklara on June 23, 2023, 12:41:21 PM

Quote from: Timmzzy on June 23, 2023, 12:12:42 PM

To what you said yeah people just mistake the both to be one thing when they try one and it didn't go their way as planned and so to the next one it didn't work too they will start to compare, trading has a lot to do and when you are a trader you get to know you have a lot of task to put to place for a positive result, i dont really know or understand much in GAMBLING, i guess this is something you do without having the knowledge if it will turned out good or not. i prefer to loss money in trading than gamble it... i believe Grambling has different areas if am correct just like BETTING right? or the aspect of putting all your EGGS in one basket to a certain kind of project someone some where introduced to you.

for some gamblers, the gambling they do also requires work. even in certain gambling it also requires skill. but the results might make a difference in how trading really won't depend on luck alone. different from gambling, which is that after we place a bet, we can only hope that the bet wins.
still, we can say they are different if we do both. then you will know where we gamble or trade.

Yes so in other words when we bet there is no turning back we just need to be sure that our bet is on the odds where it will be winning. Trading can have Stop Loss and DCA so not unless you withdraw it or it is nothing left it is considered paper loss if I am right with the term. People can be rich in trading but not in small span of time , there will be losses as well because we all know market is volatile.

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Quote from: teosanru on June 23, 2023, 12:56:39 PM

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.

2. A trader can adjust his risk appetite by reducing the lots size to suit his account and determine his appropriate leverage 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.

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.

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

What is your thought.

I think the problem with people trading and gambling both is that they do it with the mindset of gambling. If you apply proper rules of risk management in both of them, both can be really profitable to be honest or atleast won't be big loss making ventures. Trading only difference is that you can actually move the factor of chance on your side by some strategies and main aim is obviously to get that strategy right and after that make sure risk management is correctly used as well.

If we are really that going after on being profitable then trading would really be worth of your time since you could really somewhat assure that you could be able to learnt up the skill needed overtime unlike when

you do gamble on which this would purely be relying on luck most of the time.Trading does need up some luck too but mostly it would be pertaining or depending on how well you do make out some analysis
and making up some trading decisions which is something that would really be mainly needed on the time that you do really get involved with trading. Dont make trading to be a gambling because making up
some blind positioning on the market or having no strategies that had been followed then it would be considered as gambling. You are really raising up the risks on losing money
just because you had missed out on doing the standards.

Dont make up some rush trading because having that desperate mind on making profits would really be just creating some errors and mistakes which we do really need to avoid in the first place.

teosanru

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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.

2. A trader can adjust his risk appetite by reducing the lots size to suit his account and determine his appropriate leverage 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.

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.

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

What is your thought.

I think the problem with people trading and gambling both is that they do it with the mindset of gambling. If you apply proper rules of risk management in both of them, both can be really profitable to be honest or atleast won't be big loss making ventures. Trading only difference is that you can actually move the factor of chance on your side by some strategies and main aim is obviously to get that strategy right and after that make sure risk management is correctly used as well.

Awaklara

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Quote from: Timmzzy on June 23, 2023, 12:12:42 PM

To what you said yeah people just mistake the both to be one thing when they try one and it didn't go their way as planned and so to the next one it didn't work too they will start to compare, trading has a lot to do and when you are a trader you get to know you have a lot of task to put to place for a positive result, i dont really know or understand much in GAMBLING, i guess this is something you do without having the knowledge if it will turned out good or not. i prefer to loss money in trading than gamble it... i believe Grambling has different areas if am correct just like BETTING right? or the aspect of putting all your EGGS in one basket to a certain kind of project someone some where introduced to you.

for some gamblers, the gambling they do also requires work. even in certain gambling it also requires skill. but the results might make a difference in how trading really won't depend on luck alone. different from gambling, which is that after we place a bet, we can only hope that the bet wins.
still, we can say they are different if we do both. then you will know where we gamble or trade.

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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.

2. A trader can adjust his risk appetite by reducing the lots size to suit his account and determine his appropriate leverage 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.

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.

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

What is your thought.

To what you said yeah people just mistake the both to be one thing when they try one and it didn't go their way as planned and so to the next one it didn't work too they will start to compare, trading has a lot to do and when you are a trader you get to know you have a lot of task to put to place for a positive result, i dont really know or understand much in GAMBLING, i guess this is something you do without having the knowledge if it will turned out good or not. i prefer to loss money in trading than gamble it... i believe Grambling has different areas if am correct just like BETTING right? or the aspect of putting all your EGGS in one basket to a certain kind of project someone some where introduced to you.

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Well, the number 1, 2 and 3 points are very correct, but the last line is rather not entirely true, yes, trading is not gambling, and trading needs work while gambling relies on luck, there are still some games in gambling that does not entire depend on luck, it requires the player to possess a good playing skill of that game, and that skill can also be likened to as work, since it's something the player have to spend time learning.

And one the aspect of trading, trading still require a small level of luck, all the work without luck can still result in a loss, yeah, though luck in trading is totally invisible, but that does not mean it's not there, there are traders who put in all the work and still lose a trade, not that they did not work hard enough, put simply luck wasn't on their side.

Merit.s

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Trading and gambling are two different things entirely but they do have the same risks. Just the way,a gambler can be addicted to gambling,a trader can also be addicted to trading to the point that even when the market is not profitable,he will continue trading. However,trading has more benefits than gambling when you become a professional trader,because you will have your own strategy for trading in order to making daily profit,which is possible. Gambling can never have any strategy that will make one win all the time. Gambling can make you borrow funds to gamble or sell your property to gamble,but I don't think that I have heard of any trader who sells his property or borrow money to trade.

AicecreaME

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Luck is also needed in trading, since the price is very unpredictable and technical analysis ain't always on point for us to make profits.

For me the risk in gambling is much more large than trading, since it could be manipulated by the house in some ways we don't know for them to make bankroll every single day. Trading is all about efforts and dedication, the skill set is your weapon to analyze thoroughly before entering a trade, in short, the chances of winning in trading is larger than in gambling, in my opinion.

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Quote from: freedomgo on June 22, 2023, 04:58:31 PM

Trading needs a long term preparation before you start to risk yourself in it, and by investing on yourself first like gaining adequate knowledge and essential skills as a trader, you will increase your chances to be a successful trader in the making. However, luck is what we only need in gambling, no need to study and be expert when gambling, because as long as you have that luck you will be in profits, and once you have gone out of your luck, then prepare to set yourself into losses.

Trading needs you spending time researching and understanding how the market moves so when you make your predictions you get to be right to make some profits as you trade. Trading can't be done by just waking up and having the feeling to trade, you have to go through several weeks of learning and mastering trading before you can become profitable in trading. With experience from past times of trading then you can become very profitable.

Gambling doesn't depend on your experience as both a professional gambling will lose when he doesn't have luck on his side. Gambling doesn't get better with you experience as trading does. Gambling is just luck as your previously success doesn't determine your future profits.

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Quote from: Oilacris on June 22, 2023, 05:48:43 PM

Quote from: Falconer on June 22, 2023, 03:52:37 PM

Quote from: Sanitough on June 22, 2023, 03:44:12 PM

Both gambling and trading actually require luck, since you can’t also expect for your trades to be successful if it weren’t luckily favored by the market. While gambling is purely based on luck, trading is more on working your skills and strategies in order for your trades to succeed, and also with the help of luck. If you’re not having preparations when you trade, probably you are gambling in reality and not actually following the steps in trading.

Everyone needs luck in any activity including trading, investing, and so on. Even someone who applies for a job with a limited number of participants also hopes for luck instead of relying only on his knowledge and skills, so the word luck applies to whatever we do and do in our daily lives.

It's just that if traders only rely on luck, then they only gamble on trading. Ideally they do their analysis and make a good decision, but if they buy just because they believe it will be profitable then clearly they are bet money on the trade.

Luck is indeed significant on what we do engage in life because there are even real life decisions on which we do need up some luck for us to get the most benefit or advantage.Somewhat this is really

that relevant when it comes to investment matter on which luck would really play a significant part.Talking about cryptocurrency then it does need analysis and at the same time it would be needing some sort of luck for you to become profitable. We know that this market is really that unpredictable and totally random on which every situation and condition would really be entirely be depending on how this market ends up.

With trading then you would really be needing to make some hard work or simply having the analysis.You cant really just make yourself make out some trading position
without having some considerations or analysis because it would really just increase the risks of losing money instead.

I also said this in another thread. Indeed, luck is not the only factor that determines our success in trading or investing, to succeed, we need knowledge, careful calculation, and our own efforts. But we also cannot succeed without the element of luck to help, luck can be said to play a pretty important role in anyone's success. Not only for this market, but even our lives are unpredictable, and there is no recipe for success without luck.
But don't think that just by luck, we will succeed without effort, luck only comes when we try our best. So in trading or investing, we never stop learning and experiencing things.

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Quote from: Falconer on June 22, 2023, 03:52:37 PM

Quote from: Sanitough on June 22, 2023, 03:44:12 PM

Both gambling and trading actually require luck, since you can’t also expect for your trades to be successful if it weren’t luckily favored by the market. While gambling is purely based on luck, trading is more on working your skills and strategies in order for your trades to succeed, and also with the help of luck. If you’re not having preparations when you trade, probably you are gambling in reality and not actually following the steps in trading.

Everyone needs luck in any activity including trading, investing, and so on. Even someone who applies for a job with a limited number of participants also hopes for luck instead of relying only on his knowledge and skills, so the word luck applies to whatever we do and do in our daily lives.

It's just that if traders only rely on luck, then they only gamble on trading. Ideally they do their analysis and make a good decision, but if they buy just because they believe it will be profitable then clearly they are bet money on the trade.

Luck is indeed significant on what we do engage in life because there are even real life decisions on which we do need up some luck for us to get the most benefit or advantage.Somewhat this is really

that relevant when it comes to investment matter on which luck would really play a significant part.Talking about cryptocurrency then it does need analysis and at the same time it would be needing some sort of luck for you to become profitable. We know that this market is really that unpredictable and totally random on which every situation and condition would really be entirely be depending on how this market ends up.

With trading then you would really be needing to make some hard work or simply having the analysis.You cant really just make yourself make out some trading position
without having some considerations or analysis because it would really just increase the risks of losing money instead.

DoublerHunter

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^ You have raised an interesting point.
In gambling, luck often plays a significant role, as outcomes are primarily based on chance.
However, when it comes to trading, while luck can occasionally play a minor part, it is generally not the determining factor for success. Trading requires a combination of knowledge, skill, analysis, and diligent effort. Traders need to study market trends, analyze data, develop strategies, and make knowledgeable decisions based on what they have studied. It's a proactive process that involves continuous learning, adapting to market conditions, and managing risks. While luck may occasionally favor traders, it is their hard work, discipline, and expertise that ultimately contribute to their success. So, while luck may be a factor in gambling, trading relies more on the dedication and a preparation plan tat includes a stop-loss technique.

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Trading needs a long term preparation before you start to risk yourself in it, and by investing on yourself first like gaining adequate knowledge and essential skills as a trader, you will increase your chances to be a successful trader in the making. However, luck is what we only need in gambling, no need to study and be expert when gambling, because as long as you have that luck you will be in profits, and once you have gone out of your luck, then prepare to set yourself into losses.

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Quote from: Sanitough on June 22, 2023, 03:44:12 PM

Both gambling and trading actually require luck, since you can’t also expect for your trades to be successful if it weren’t luckily favored by the market. While gambling is purely based on luck, trading is more on working your skills and strategies in order for your trades to succeed, and also with the help of luck. If you’re not having preparations when you trade, probably you are gambling in reality and not actually following the steps in trading.

Everyone needs luck in any activity including trading, investing, and so on. Even someone who applies for a job with a limited number of participants also hopes for luck instead of relying only on his knowledge and skills, so the word luck applies to whatever we do and do in our daily lives.

It's just that if traders only rely on luck, then they only gamble on trading. Ideally they do their analysis and make a good decision, but if they buy just because they believe it will be profitable then clearly they are bet money on the trade.

Topic: Luck is what you need in gambling but you have to get to work with trading - page 4. (Read 918 times)