Outside risk: similarities between gambling and trading?

guoyu78

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Quote from: Ipwich on May 24, 2019, 03:12:32 AM

Quote from: Kiweikoo on May 20, 2019, 05:53:09 AM

Trading is a very safe and rich way to make money.

I like to disagree. Trading has risk like gambling and not majority of the traders are profitable, so getting rich is not an easy journey.

You are correct actually and I agree with you that trading is also very risky. Is there anything that involves money that doesn’t come with risk? Nothing is 100% safe as long as it has to do with success and there is no guarantee that everyone involved would become rich, If trading was that easy in making people rich with low or no risk at all, I am sure everyone would have been into trading by now.

I know a lot of people who are into trading that have lost a lot of money, so please correct that notion, there is no easy way to become rich than to be patient and to learn to take risks when necessary.

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Quote from: omonuyak on January 19, 2019, 03:36:56 AM

I Think risk and reward are the two similarities between gambling and forex, stocks and cryptocurrencies trading. For those that have been doing trading and gambling what did you notice as a similar among the two and through experience how much have you made from the both?

There is no similarity between gambling and other forms of investment, you can identify the market situation globally and how the market moves when it comes to the rest of the investment and that cannot be the case with gambling, gambling is like tossing a coin, it can either have two results and nothing else and that is not the case with investments.

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Quote from: Ipwich on May 18, 2019, 06:47:50 AM

Quote from: prtty2gal2 on May 18, 2019, 04:49:28 AM

Gambling is mainly all about having luck on your side, anyone can start gambling at anytime.

You can't say that to people who work hard to succeed in gambling, there are gambling that are solely based on luck and it's called luck based games.
Man, I am a sports gamblers and I followed a lot of tipster and based on their record I can say they are profitable only if they do the right bankroll management.

I don’t know why they always conclude that all gamblers depend on luck to win games. They have no idea, what efforts gamblers put in to become successful. Like you mentioned, there are some games that are based on luck but it’s wrong to generalize all gambling’s as such.

Although I play for fun and I have little idea about professional gambling, but the few professional gamblers I know, work very hard to make money so in my opinion, I think both gambling and trading requires much efforts from the participant to make money. Those who trade are serious minded same as professional gamblers.

Ipwich

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Quote from: Kiweikoo on May 20, 2019, 05:53:09 AM

Trading is a very safe and rich way to make money.

I like to disagree. Trading has risk like gambling and not majority of the traders are profitable, so getting rich is not an easy journey.

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Quote from: GregH37 on May 18, 2019, 05:55:18 AM

I think I really need a mentor in trading because I always end up with loses and I am always amazed whenever I learn that trading is more profitable and with less Risk. I am obviously on the wrong path and maybe I am not getting it right, started trading with 1BTC last year and I have barely less than 0.79BTC.

Gambling on the other hand has been quite easier for me even though I make little profits because I play for fun, there is possibility of me making more money if I played for money. Its kind of difficult to draw the similarities between both, so I would assume there are no much similarities but more of differences between both .

Yes, you might have to get someone who is very good at trading; there is a section in this forum you will find them. You can become better when you learn but for gambling, don’t be too sure of making money, it is just better on how you play for entertainment. What Is meant to be will always be. If you are in damn need of money, you can hunt for signature campaigns or bounty hives and forget both trading and gambling for now.

The similarity I see between both is Risk. They are both very risky. In trading, there is no hope that the money would come back no matter how good the trader might be and same as gambling.

redsun114

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I think there are more risks in gambling than there is in trading. Trading is a lot better because in some ways it's usually about your skills and not really much about luck, unlike gambling where you're mainly relying on luck to win, though I have seen some games in gambling (Casinos) that has to do with skills as well. But my support goes for trading, i think it is a lot of much better. And there is this kind of addiction I see in gamblers that I don't see in traders. Most of the traders I see are always well organized and they are not kind of addicted to trading, but gamblers has majority of them who are so addicted and can't do without gambling for a day. Some of them will be losing and will never make up their mind to quit for that day and continue another day, rather they continue till they have lost everything they have in their pocket.

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Quote from: prtty2gal2 on May 18, 2019, 04:49:28 AM

Gambling is mainly all about having luck on your side, anyone can start gambling at anytime. But as for trading, it mainly has to do with your skills and when you don't have that skills you're not going to gain anything. It is not something you just start in a day, you will have to learn it. I hardly see myself gambling these days after I learnt trading. These days I just Play gambling when ever I feel like I just want to have the fun, mainly what I'm doing these days is just trading and I have to say that it is much better than gambling as far as you have the skills to do it.

I think that is true only in theory as in practice the facts have shown that no matter how skillful you may be in trading you will still end up losing money in the longer run.Even professional traders are losing money on a regular basis and I have yet to see one trader making more profit than lost money in a long amount of time as in short time it can be done with some luck.

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Quote from: omonuyak on January 19, 2019, 03:36:56 AM

I Think risk and reward are the two similarities between gambling and forex, stocks and cryptocurrencies trading. For those that have been doing trading and gambling what did you notice as a similar among the two and through experience how much have you made from the both?

You got the point in that. Trading is like you gamble your money because any moment you trade, you cannot guarantee that you would get the highest possible profit you can get. Or worse you will end up lossing your investment.

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Quote from: Whosdaddy on May 21, 2019, 06:55:07 AM

Quote from: smyslov on May 20, 2019, 08:12:12 AM

Quote from: omonuyak on January 19, 2019, 03:36:56 AM

I Think risk and reward are the two similarities between gambling and forex, stocks and cryptocurrencies trading. For those that have been doing trading and gambling what did you notice as a similar among the two and through experience how much have you made from the both?

I don't know the similarities, but you can gamble for so many years, but still have a long run of losing, in trading, you can learn how to trade effectively and minimize your lost and maximize your profit, the only similarities are, both have a risk factor other than that I don't see much similarities.

Long run of loses in gambling? That’s not true at all. I have been gambling for years now and I can count the number of times I have made loses. Continuous loses is mainly for those who are greedy and irrespective of the lectures they go for on how to trade, they would still experience losing in trading. I feel they are just similar in both, ways when played. Too many similarities between trading and gambling.

I consider the goal of making profit a similarity, Risk is also one similarity between both trading and gambling and the characters between the people involved can also be considered a similarity.

I am not surprised at how so many people just conclude that gamblers are losers. How can you conclude that gambling has a long run of loses in gambling, if it’s true, then why are there still gamblers. Yes people loose a lot in gambling but like the upper poster said it is more with those without self-control and very greedy people. The much talked about trading that gives profit have giving me so much loses. It all depends on the player and how the game is been played. If I am to compare both trading and gambling.

I would say that trading is for special people, that is those who are skilled and gambling is for everyone. Whether with or without experience.

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Quote from: smyslov on May 20, 2019, 08:12:12 AM

Quote from: omonuyak on January 19, 2019, 03:36:56 AM

I Think risk and reward are the two similarities between gambling and forex, stocks and cryptocurrencies trading. For those that have been doing trading and gambling what did you notice as a similar among the two and through experience how much have you made from the both?

I don't know the similarities, but you can gamble for so many years, but still have a long run of losing, in trading, you can learn how to trade effectively and minimize your lost and maximize your profit, the only similarities are, both have a risk factor other than that I don't see much similarities.

Long run of loses in gambling? That’s not true at all. I have been gambling for years now and I can count the number of times I have made loses. Continuous loses is mainly for those who are greedy and irrespective of the lectures they go for on how to trade, they would still experience losing in trading. I feel they are just similar in both, ways when played. Too many similarities between trading and gambling.

I consider the goal of making profit a similarity, Risk is also one similarity between both trading and gambling and the characters between the people involved can also be considered a similarity.

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Quote from: omonuyak on January 19, 2019, 03:36:56 AM

I Think risk and reward are the two similarities between gambling and forex, stocks and cryptocurrencies trading. For those that have been doing trading and gambling what did you notice as a similar among the two and through experience how much have you made from the both?

I don't know the similarities, but you can gamble for so many years, but still have a long run of losing, in trading, you can learn how to trade effectively and minimize your lost and maximize your profit, the only similarities are, both have a risk factor other than that I don't see much similarities.

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Quote from: xSkylarx on May 18, 2019, 10:38:44 AM

Similarities between gambling and trading is you will lose money if you are greedy. You don't know to limit your losses or stop after you earn some profit. You must have a strategy first before gambling or trading if you want to earn profit.

I agree with this In terms of being able to know when to stop. Not because you keep on winning doesn't mean you should continue betting, while on the trading part, more critical and analytical thinking is needed, be aware on the events on the happening on the market and familiarise yourself on how the market moves before taking your next step.

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Quote from: Ipwich on May 18, 2019, 06:47:50 AM

Quote from: prtty2gal2 on May 18, 2019, 04:49:28 AM

Gambling is mainly all about having luck on your side, anyone can start gambling at anytime.

You can't say that to people who work hard to succeed in gambling, there are gambling that are solely based on luck and it's called luck based games.
Man, I am a sports gamblers and I followed a lot of tipster and based on their record I can say they are profitable only if they do the right bankroll management.

Exactly, in luck-based games you cannot win or lose easily because it is all about luck such as in dice you have pure luck either to win or lose. You cannot put your strategies in such games however you can do it in games luck poker in which you can achieve a better position and play till the end that all happened as a result of the tricks and strategies you use during the game. Trading is a very safe and rich way to make money.

xSkylarx

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Similarities between gambling and trading is you will lose money if you are greedy. You don't know to limit your losses or stop after you earn some profit. You must have a strategy first before gambling or trading if you want to earn profit.

Rufsilf

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I do think gambling and trading are pretty similar in some aspects, one is they both give immediate rewards and results, meaning if you gamble lets say in a casino you'll know the results right after the game same as trading, if you invest on something you'll know the results mostly by end of the day. Second is both rely on luck as well, I know most traders will say they have strategies that helped them in getting better with trading but it is also luck.

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Very similar but gambling should be more fun as you can watch the action as it happens unlike just looking at some numbers or graph, and you get to rely on past results which are more likely to help with predicting a result.

TBH it's difficult to separate the twoo but gambling has an edge over trading.

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Quote from: prtty2gal2 on May 18, 2019, 04:49:28 AM

Gambling is mainly all about having luck on your side, anyone can start gambling at anytime.

You can't say that to people who work hard to succeed in gambling, there are gambling that are solely based on luck and it's called luck based games.
Man, I am a sports gamblers and I followed a lot of tipster and based on their record I can say they are profitable only if they do the right bankroll management.

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Quote from: ricardobs on May 17, 2019, 02:15:58 AM

Quote from: judeafante on May 09, 2019, 06:21:20 AM

Quote from: omonuyak on January 19, 2019, 03:36:56 AM

I Think risk and reward are the two similarities between gambling and forex, stocks and cryptocurrencies trading. For those that have been doing trading and gambling what did you notice as a similar among the two and through experience how much have you made from the both?

The risk is quite high on gambling because you are going to rely more on luck than your skill, compare to trading where much of it relies on your skill to analyze the pattern and situation, there is a good profit to be made in trading than gambling, anyone can play a gamble and win in the first time but it's hard to do that in trading.

There are similarities in gambling and trading but you will find few because both of them are different from each other in many aspects. In trading you can make profit without having any high risk only if you know the rules and its way to work out, a reliable source. On the other hand, gambling is not a reliable source of making money because you have no full control to make profit but competitors are there too.

I think I really need a mentor in trading because I always end up with loses and I am always amazed whenever I learn that trading is more profitable and with less Risk. I am obviously on the wrong path and maybe I am not getting it right, started trading with 1BTC last year and I have barely less than 0.79BTC.

Gambling on the other hand has been quite easier for me even though I make little profits because I play for fun, there is possibility of me making more money if I played for money. Its kind of difficult to draw the similarities between both, so I would assume there are no much similarities but more of differences between both .

prtty2gal2

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Gambling is mainly all about having luck on your side, anyone can start gambling at anytime. But as for trading, it mainly has to do with your skills and when you don't have that skills you're not going to gain anything. It is not something you just start in a day, you will have to learn it. I hardly see myself gambling these days after I learnt trading. These days I just Play gambling when ever I feel like I just want to have the fun, mainly what I'm doing these days is just trading and I have to say that it is much better than gambling as far as you have the skills to do it.

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Quote from: bitgolden on May 10, 2019, 08:34:55 AM

I am glad you admitted not having an idea about trading and I am convinced that you are not a professional gambler. Maybe those who just play around with the game when they are bored but that is not a real gambler. I do both trading and I gamble for money and I can from experience say that both games are full of risk and both games require skills and study.

In sport betting which I specialize in, we realize that despite all efforts in digging into past records of teams, we can still be disappointed during betting’s and same as trading, regardless of the efforts in analyzing past trading records, there things can still change, so its all a game of risk.

I am so amazed to read that you do both gambling and trading and I am wondering how you cope since you are aware that they are both risky. Gambling alone that I have been playing, I don’t even know where I stand already because I have lost too much to the game. Some of my friends told me that trading is much easier though but I have not tried it. Maybe you should drop a little lecture on how you can survive the tension from both games.

For me I feel another similarity between trading and gambling is that they are both profitable, Aside that it’s both risky and loses can be made from both, there are chances of making money from both.

I feel you are that surprised because you probably have a negative mindset towards both. Drawing from your sentence, I can imagine that you are been tensed playing gambling and that is really not good. Gambling is not supposed to be that way, and I hope you have not lost more than what you can afford?

Again, You might need lecture on trading but sorry you don’t need any lecture to gamble. Just play your game for fun and spend less, you win sometimes, you lose. In my opinion, I do not really see so much similarity between both games, but profit realization at the end of each might actually be a similarity.

You have a very great point. It is really very clear that the upper poster is one of those that take gambling as a source of income, and it must have really been difficult for him running both because it will be like running two businesses with little business experience. Its not right at all.

Gambling is for entertainment. There was a time at high school, my friends and I would bet on different material things even to our dinner and it was really fun for us. We just saw it as a way to make ourselves happy. I feel we shouldn’t over work ourselves on gambling simply because money is involved and now the reward for playing is now in terms of cash and huge. There is no similarity between trading and gambling. One is for fun and one is Business.

In my opinion, I feel the whole basics of these arguments on gambling and trading as either game of fun and investment or the similarities between both is truly baseless and of no use. No matter how both games are been played, there will still be a trace of similarity between them. It’s just normal.

The similarity between gambling to me Is that both traders and gamblers have an attribute of self-discipline in their various ways of playing. I realized that gamblers are always so disciplined in playing their games because lack of self-discipline can lead them into addiction and same way traders are always exhibit self-discipline to enable them control loses in trading.

Reading through all the above comments, I would really commend your last suggestion. The argument is really of no importance. Despite the huge difference between cryptocurrency and Fiat, there is still a similarity when comparisom is made. So there is no big deal when we try to fetch out the similarity between gambling and trading, it doesn’t mean they are the same, it only means that something is making them look alike.

Nothing really makes gambling and trading similar apart from money and the people involved in both. Money is used to trade; same way money is used to gamble. Gamblers are hard workers and traders are also very hardworking.

Topic: Outside risk: similarities between gambling and trading? (Read 897 times)