Topic: Luck is what you need in gambling but you have to get to work with trading - page 6. (Read 932 times)

Gambling is always gambling; it's a game of chance where you don't need to analyze to win. You're dependent on luck, which means there's no assurance you'll be profitable. Because gambling was created through programming, most of the time you will win but then lose and risk your capital. Trading is not like that; you can trade without analyzing the market, but if you do, your capital will be gone in no time. That is why trading without a plan is still considered gambling. To be successful in trading, you must evaluate the market every time you trade with a backtested strategy.

Basically, trading or gambling isn't for everyone. Only people who understand trading or gambling deserve to join it. Anyway, I think it is not only about luck, here are many things to consider. In trading, it is required to have enough knowledge, skills, and experience. Without sufficient knowledge/skills, a trader can lose all their money and probably be difficult to determine the entry/exit time. So, knowledge/skills have a big role in trading. While in gambling, people need to understand how to manage their money and must have good self-control. So, they know how to spend money in gambling in the right way. And people also can avoid addiction if they have good self-control.

Well, regarding luck, it is actually not only in gambling. When people trade coins, they sometimes also rely on luck. Traders who trade without proper analysis and don't do their own research can be categorized as trading for luck. Since they just guess the price change, it is almost similar to the gambling style. 

Your argument is technically logical and I enjoy the fact that you don't understand that both gambling and trading require an ample amount of luck, strategy and work to be able to earn the best out of it.
Although, for gambling it requires most times, the right mood and sufficient luck to win big after many failed attempt.

The work involved in trading is where you get to know mindfully the right time to buy or sell asset that will of course make you profit. Where this doesn't happen, loss limited to a certain fraction is incurred. A wise trader would know the amount of funds to trade with mostly if he/she is one that follows the trends and news updates.
Whereas a gamblers fate is a result of a sooner than expected outcome.

Gambling is risking your money to lose more since you cannot always take advantage of an unpredictable market. But with trading even if you know the market is uncertain but because you have prepared before trading and you've got weapons within you that you have been working for long, then that may lessen the risk of losing but will have higher chances to be profitable in the market by making such successful trades that will be align with the market behavior and condition.

Trading is very different from gambling, but if you trade just for immediate profits without long term planning, and without certain strategies to use, then you may end up like gambling. Gambling is open for everyone and you can be in profit or at a loss, depends on how lucky you are. However, with trading you can never easily trade without timing the market that's why you have to analyze the market well so that your trades will be favored by the market and not just trade against the market condition.

I have come across this kind of thread before concerning trading and gambling which I know that I make some emphasis there, so therefore gambling is a game of luck likewise trading so both have a similar act in terms of profit making.

Trading and gambling are totally different things and they don't have any relation with each other at all. A trader is a person who has mastered the skill of trading and has gained enough knowledge about the market that he/she could have many profitable trades without any problem. The trading is a conscious thing and it doesn't involve luck as far as I know, because in trading, experience matters not the luck. A trader can earn a lot of money with a good trading strategy and a working plan. A trader can sometimes lose money when the stop-loss is reached, however a trader won't lose the whole capital in a shot if he/she is not leveraging the money as futures trader.

A gambler just gambles and that's the only definition for it. The field of gambling is highly dependent on someone's luck and is very less dependent on someone's skills. There are many casino games which are purely luck oriented and only those people who are lucky could makes profit out of gambling. The gambling is an activity that could cause addiction in the minds of the gamblers while trading doesn't cause any kind of addiction. A gambler throws the money into dust and it could all be wasted or can return with 2x or more, while a trader never throws the money into dust because a trader only places trades when market is according to his/her strategy and trading plan.

All of your points are correct, but not all traders carry out these points in their trades correctly. This happens for many reasons, either because they start trading because they are tempted by the profits that are obtained by those closest to them who trade, or because they think that trading is easy thing like buy cheap and sell high.
I've even heard of someone teaching not to do stop loss and saying as long as you don't sell at a low price then the trader hasn't lost and this is completely wrong, traders always think the price will go back up and that's the right time to sell and that's a mistake that is often made by many traders, so that eventually trading is seen as gambling because it involves feelings not trading techniques.

I have to agree that trading is not for everyone, unlike gambling that only requires luck and then you’re good to go. While in trading you need to stick with the rules and analyze the market well, and even use the best strategies that will work on your trades to ensure profitability, but in gambling everything is based on luck and chances. You may win or lose in the end, not because you have well experienced in gambling, it’s just that some might have been lucky or gone out of luck at the end of the day. That’s why some go home with huge gains while some end up losing all their funds and go home empty pocket.

Exactly!

This is what you do primarily thinking or something that you would really be saying about such stuff because on the time that you do make trades but having that gambler like kind of approach then sooner or later
you would really be able to realize their main differences. You would definitely say that trading does need up not just luck but rather that needing hard work and proper analysis which is something
you would be needing when you do trade. Gambling is never that something could be considered to be the same like trading.

Gambling is for fun and trading is for investment/business/income source which you would really be needing to be wise on taking up some decisions in between on which one is really that you needing.
Not all would really be that too dumb on not to notice out these differences which you would be commonly be able to encounter on the time that you would be making dealing or engagement.

Only those who trade based on their luck will compare trading with gambling or say that they are the same thing. They live in their comfort zone and never want's to learn new things. That is why they think that way.
Trading is not for everyone because it's not an easy task to do. While gambling is so easy that anyone can do it. Trading requires skills, analysis, understanding of sentiments, long term planning. But in gambling, your skills and analysis does not have any effects. Gambling is a win or lose situation, where in trading we can take risk management and control on how much we are willing to lose.
Uncertainty and luck are the main things in gambling. But in trading we need knowledge, experience, skills. So in order to gain them, we need to work our a**s off. So yeah, I agree with OP. While gambling and trading might overlap on certain situation, they are totally different things.

In short, if you will equip yourself with knowledge and strategies in trading, you won't rely much on luck.
And that means, you have a chance to do better in trading if you educate yourself and acquire more experience.
However, if you are talking about gambling and playing those luck-based games such as crash, dice or roulette,
then, no matter how many years you are playing with such games, you still have the same chance on these games.
And that clearly shows that trading and gambling is different from each other, you have better chance in trading if you
prepare yourself for this activity. But your chance in gambling stays the same for these luck-based games even if you know very well such game.

Actually, Trading is just buy and sull button same with gambling that is simple too which is just clicking play and wait for the result. They are both easy in terms of how they work technically.

The Analysis part only enters on trading as strategy on making profit while gambling is just based on luck for the result. You are right that trading is complicated if a user wants toget profit but the mechanics of trading which is just buy and sell is very simple too in technical perspective.

How? Please can you elaborate more on this on how not selling your coin while losing trade helps you to make profit?  Or isn't that similar to gambling whereby if you are losing a bet and you don't withdraw all your deposit, you still have a chance to make one single lucky win too.


Yes, you are very correct on this and I agree with you on this very statement of yours that while trading can be a steady source of income, it's not the same when it comes to gambling.

But despite everything been said, there are similarities between these two phenomenon, and such as;
1. They both requires capital "fund" to be executed
2. They both requires a certain level of luck and prior understanding for anyone to make a decent profit at any time.
3. While trading has a "stop-lose" feature, gambling also has a "Cashout" feature too, which enable you not lose the entire money used in staking or trading.

Some traders are very reckless, and the desire to recoup can constantly prevail over them. But luck will be on the side of those who always stick to their strategy and have their loss limits set. In addition, the control and analysis of each trade should always be a priority, and if one loses control, it is better to stop and take a break. If we talk only about luck, then this lady is found in many, but not everyone correctly disposes of her.

The difference between trading and gambling is that if you have a losing trade and don't sell your coins, you still have a chance to make a profit. But in gambling, if you have lost and lost a lot of money, there is no guarantee that you can win several times and recover all the losses you have experienced.

If traders say that trading is the same as gambling, they haven't learned more about trading and trading analysis. But if they have learned about trading analysis, they have more opportunities to earn.

To profit from trading, you should learn more about analysis. Trading can be a source of steady income. Meanwhile, it is difficult to use gambling as a steady source of income. Many people have tried it but failed.

I believe many beginners have a perception like that about trading, but trading is not that simple. Trading without analysis is gambling, I mean if traders only rely on feelings to buy even though they can also make a profit from it.

Analysis is a very important part for traders to do regardless of whether it is technical or fundamental analysis. They cannot buy coins on the market blindly because most likely the results obtained do not match reality. Trading has never been as simple as gambling which only relies on luck to make profits.

They only look for the risk factor but they never see how technicalities. Most of people say trading is the same with gambling is just basing their luck on random situation, they didn't even think about that their are other technical situations.need to consider. Compare with gambling that we just need to be lucky to win on those games.

People need to have separate thoughts about this since if they believe that gambling and trading is still the same maybe they will not try to learn more deeper on how to trade because the one came in their mind that trading is also a game of chance.

Most gambling games only require for the rules to be explained on a matter of minutes to get a rough idea of what the game is about and how you should play it, and after a few hours most people know already everything they are ever going to know about that game.

However trading is completely different, you need months to understand what you are doing, and that is the best possible scenario, as many traders will require years while others will never truly understand trading at all.

please stop trading only by relying on luck when trading because it's the same as you are gambling, in trading technical analysis and fundamental skills ^{(as i have said in several posts in this section)} are things that really need the rest is luck and your mood when trading ^{(it's wrong if you think that luck is not needed in trading)}

people who do not have the intention to learn the basics needed in trading will never be suitable to be a good trader, relying on luck in trading will only make you look like a fool and full of nonsense.