Topic: Luck is what you need in gambling but you have to get to work with trading - page 5. (Read 932 times)

Well what you said makes sense, but how many traders act like that and treat each one of their trades as an object of study from which they can learn to improve their strategy and earn money as well? Very few, many traders out there trust on their gut feeling, the signals they can find on a telegram group or they invest in meme coins and hope for the best, and the only way to categorize their behavior is as gambling, not that there is anything wrong with gambling itself, it is just that the markets are not really the place for it.

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.

On the time that you would really be engaging on both things then you would directly find out on what are the differences in speaking on how gambling is been involved even though its not literally means about it but
in the sense that there are factors which couldnt really be predicted then there's the essence of gambling which it could really be seen on trading too and this is why there's really a significant similarities on this part but its true that application would really be totally that different on how its been done due to some factors which could really affect out winning chance or profitability chance in between trading and gambling.
Luck does play a huge role when we do speak about gambling because we know that if we arent lucky then for sure we would lose and even on trading because due to unpredictability and total randomness of this
market then you cant really be able to tell on where prices would be going which means that you do need to gamble to make out some analysis on where it could potentially go but of course you are
already applying out on having some analysis which it would really be lessening up the risks compared on making up a position without having any analysis at all.

The difference need not to be proven since it is visible and logical. Trading is work of facts, real volumes, events, virtual and physical changes in any assets and much more. It is mixture of those things which drives the price of that particular asset. It takes up more than that to decide a future of asset and it’s pricing. While on the other hand gambling is pure luck, house edge status and your decisions while playing. It’s a game with luck and nothing more. You can’t decide if the rocket is going to crash OR whether a slot will give jackpot in the next move. It keeps running and running until the time we don’t quit it. I see no similarities or ways to compare both of them. Not sure how people are calling them gambling ?

Therein lies the problem that makes people equate trading with gambling, Long and Short in fact it requires knowledge to live it and not everyone is suitable for trading. When they are trying to guess it means they are betting and this is the reason people say trading has little in common with gambling, whereas when directly involved the practice is different.

Analyzing requires knowledge so that buying or selling predictions can be done correctly, although sometimes when doing this it doesn't always go the same way and isn't always right. We will never encounter strategies in trading when we are not directly involved, because studying theory alone is not enough to provide experience.

Yes, there are people who consider crypto trading as gambling and to some extent it does look like the same.
But when we actually start trading by learning the fundamentals and technicals and do our own analysis only then we know there's more to it.
The risk management plays an important to cutting losses and maximizing profits in trading.
When we start using stop losses and take profits according to our strategy then keep evaluating and revamping our strategy then we find out it's not like gambling.
We do have to work for it to get us money.

If we are talking about the literal gambling then yeah there were only two types of it and you already said it but other activities and aspects in life do also have gambling involved. In trading for example, there is also gambling because sometimes the market is unpredictable.

Casino games requires knowledge too because how can you play the game and win, if you don't have it? And then there are a few casino games which requires more knowledge and skills. Not only trading but the two types of gambling we talk about earlier, do also require a hard work. There are also automation features which are also available in trading. It can be inside the system or by using a bot. It's up to us, if what we will prefer.

trading is trading and gambling is gambling, it's true. It won't be any different, but some people trade like gambling because they don't have any knowledge in trading so they just make guesses, up or down. this will be more similar if you trade futures, Long & Short and it will be done easily by anyone and will lose easily. Real trading is about analyzing coins to predict where they will buy and sell, not just guessing. Gambling is just betting that doesn't have a definite basis of knowledge because gambling only relies on luck and everyone's luck will be governed by the gambling system.

This "trading is gambling and gambling is the same thing as trading" kind of arguments often emanate from hardcore gamblers who seek justification for their losses as a way to get even with those who try to discourage their gambling habit. You're right about the difference in both – putting in the works in trading while gambling relies on luck. We know that in both (gambling and trading) losses and profits are made but we should also note that while one sells a product (trading), the other only sells an emotion/expectation (gambling).

Even though people think inflammation is synonymous with gambling, in practice the two activities are different in carrying out, trading is still trading and gambling is still gambling. Trading is more flexible and measurable in generating profits, but must be based on correct knowledge in practice, while gambling is just a much bigger gamble that does not have a specific method for carrying it out.

Stop loss or adjustment is a step to avoid losses in trading activities and in gambling you bet with a different scheme in the absence of a special strategy, this is what makes gambling differentiated between trading activities.

Intelligence analysis and experience will increase the ability to manage trading activities and obviously it will affect the course of trades that we make and trades can adjust our own rules regarding Stop loss or trailing stop.

gambling and trading have always been very different things, so much so that many people who start to trade are faced with a scenario in which they cannot make many profits, in most cases people are having a lot of losses and there is no such thing as luck in trading, things like putting 100$ and turning it into 1000$ in 1 million dollars does not exist in trading, so just because it does not exist you can already see that trading is very different from games of chance, for example in the game of bad luck talking about casino games like clinker, the person can put 1$ and if he hits the biggest multiplier that person with 1$ can have more than 30$, and there are people who put in 1000$ and win more than 30,000$

in sports betting for example, a person can choose 10 games and place it in a multibet bet and with that have a 50x odd, that person places 100$ and when he wins he will have a good amount of money, so that is not seen in the trade, that it does not exist in the trade, unless the person buys some altcoin and does hodl for many years. trade is something that requires knowledge, and you don't gain anything in the long term, you only earn when you do hodl in the long term. so both trading and gambling at the end of the day both are high risk

Trading and gambling may have some similarities, but they are not same.despite the fact that both trading and gambling involve luck, someone really needs some knowledge of cryptocurrency trading before they can start trading and able to make profit but gambling is something you can do without any no knowledge and when you are lucky, you win. So in gambling, it's just a matter of chances and lucky, so any one gambling are  playing it  with odds that they may think it will favor them, but in trading, you need some skills and go through some analysis before you can become successful.
 

Most of the newbies who enter the crypto business are gambling with trading, they think it is the same as gambling. But this is where they make a mistake with this mindset, so usually, when it comes to the actual trade, others realize that what they thought was right was wrong. So the result in the end is that they lose money in their trading activity because of the wrong belief.
Because trading it takes time and patience to lead you to the profitable trader which is also called of course.

Both gambling and trading are really risky, but because there are only two options (buy and sell) to gain profit, they then try their luck at it, which is far worse than gambling as it will really drain your money or your account. Also, luck in trading: if it works in your first trade, then you are really lucky, but it will not last long if you are just basing it on your luck. You will really see the result in the long run or a couple of trades if you are just basing it on your luck.

Those who compare trading with gambling are actually unaware of what actual trading is and they probably only know about meme coins and buying and selling shit coins for profit which is obviously a gamble with your money because there is no research, no analysis and nothing that can actually let you know if you are going to get any profit or not because their price movements depend on community hype and that cannot be predicted.

Actual trading is done on cryptocurrencies that have organic growth and are volatile based on supply and demand and many other factors, people use charts, do research and analysis, watch for news and events that might affect the prices and place their trades based on that. Gambling is nothing more than a game of luck.

See how easy it was for you to say😂

I’ll give you an assignment, go and do all what you just said and come back sincerely to tell us what the outcome was

SL or no SL, losses are losses, if you set SL and you lose $30 on 5 trades, that’s $150 already

Has the SL helped in anyway?
No, just that you haven’t lost all your margin at once

The crypto space is so volatile, no one knows it all, a single tweet from Musk or US SEC can overturn the whole crypto market

It’s not as easy as you think it is

Have you never traded Bitcoin? When you experience a loss after buying Bitcoin, do you immediately sell it? We always recommend not selling Bitcoin when the price is declining because the potential for a Bitcoin price increase is higher than other coins.

It's not gambling. For example, now you buy at $ 28k, which costs $ 25k, and you have lost $ 4k. But the $4k loss can be recovered when the Bitcoin price returns to $28.5k or even higher. But the condition is that you don't sell when the price drops below $28k.

Only Bitcoin can do that, while altcoins cannot. And when I say if you have a loss and don't sell your coins, you still have a chance to make a profit. That means the coins that I mean are Bitcoins and not altcoins. I hope you understand what I mean.

That's what we're learning to trade for to find coins that we can use and have a bigger chance to make a profit.

But in gambling, even though gambling games can provide an opportunity to win compared to other gambling games, that also doesn't guarantee we can get a win. And we also still have the opportunity to lose in gambling. So by trading, your chances of making a profit can be greater than gambling.

But if some people still want to use gambling to make a profit, that's also okay because at least they already know the risks. So whatever we choose, we should already know and be able to accept that risk.

I don't think that trading requires any kind of luck, it's a pure skill-based approach that requires hard-work and experience.  I agree that trading requires a proper strategy to work successfully, but in case of gambling the luck factor is far superior than strategy. I have seen many gamblers loosing a lot of money even with a very strong strategy, and on the other hand the gamblers with same strategy earned huge profits. Trading is a learnable skill and anyone who give enough time to learning and gaining of experience can make some good profits with the help of trading.

A wise trader is the one who studies the market and is well-aware of the volatility of the market. The strategy a trader uses depends upon the conditions of the market because you can't use same strategy for bull/bear market. Both of the market conditions require different approaches that a trader should master in order to earn consistent income from trading. A gambler is just a gambler and he/she could lose a lot of bets if luck isn't in their favor. Although, I agree that a gambler could save himself/herself from huge losses with a good strategy, but when luck is totally down then no strategy will work for the gambler.

Only gamblers will classify trading and gambling together, gambling is different from trading but they have some similarities still that doesn't make them the same. Having luck by your side helps in both trading and gambling but you don't need to depend on luck when trading instead you depend on your knowledge as that helps you to interpret the market and make better calls that'll help you make profits from the market.

Gambling don't need any learning, anybody can make money from gambling during a long times but if you don't have the knowledge of trading you might get lucky your first time trading but as you trade continuously your flaws will exposed and the market will punish you for that.

Hmm, this is quite cool to see that for us to make money in Trading, we need to out on more work for us to get result. The question is that does this happens everytime? Sometimes as a trader, we might put more effort to analyze the market and do a lot of things and still yet, we still end up making some crazy loses.

Those who have bright understanding about the market would never stressed themselves to make money from the market since that have the knowledge and experience for years on how everything in the cryptocurrency market works. Sometimes hard work does not pay even with some much development and improve. The major and important thing is the opportunity that will explore us.