Topic: TRADING IS NOT GAMBLING - page 3. (Read 288 times)

 I dey tell you bro I no know how person wan take sensitise people say these things na two different game altogether

True true trading and gambling no be the same thing, na two different things wey fit wound you wetin no good, but one major thing wey I pick out from your write up is that luck fit shine on you in gambling, but in trading, if you no know anything about am, you don enter one chance because luck no dy work for trading, you earn base on wetin you know, and how  good you can control your emotions, but as for me, I see two of them as a dangerous game, especially trading because him dy even more brutal than gambling.
The emotional trauma wey come with trading is second to none, that time wey you no dy trade, you go feel like say na that Times you for make enough money, but once you enter wrongly, ur eye go clear, because the market go humble you sharp sharp.

Even though trading and gambling resemble for face that resemblance no pass for face there, u go make very serious mistake to think say trading and gambling na the same thing, and if you enter trading with that gambling mindset wahala go dey. so weting be the difference between the two

 1. RISK:   the biggest thing wey separate gambling and trading na risk, for the two risk dey sha but with trading you fit control your risk, too many parameters and avenue dey to control your risk, for gambling the chances to control risk dey very slim.

 2. RESULT: Another thing wey separate these two na how to achieve the desired result wey be PROFIT, with gambling your chances dey based on luck and odds, and these two dey too random for somebody to base success on them naim make most gamblers na once once them dey cash out something sef before you see that one cash out you don play tire, loose money tire...with trading, results dey random too but e no dey based on luck and odds  the results dey based on information, historical data wey you fit go back to anytime anyday to help you see wetin market don do before so that u go fit Bank on am then trade, for example make we say market dey trend, e go must hit one or two important areas or prices before e reverse  so you fit bank on some of these kinds of information and data to trade, so your success now no dey based on luck and odds again but market behavioural consistency(price action, market structure and order flow).

3. DATA: with gambling your data sources dey limited if at all anyone dey, naim make gamblers results dey based on luck but with things like trading crypto and other asset classes, you get numerous sources of data, for example, you get fundamental data, sentimental data, technical data and even relational data, by the time you don put your head down learn these informations and know wr to find them, your trading go make sense even dey easier with time as you gather experience and growth

TIMING: while gambling na something wey be start now end now, trading na game of patience, you must learn patience to dey able to trade otherwise you go dey loose money like say u dey gamble

Unfortunately plenty people no know these things so them dey use the mindset of gambling to enter trading naim make person go carry money wey be urgent 2k for another thing use am to trade to make quick profit then send back the main money, without experience or anything, just because them see another person dey make money from trading them feel say na based on 2 odds or over 2.5,..those kind things no dey ever work because even  if luck dey important e dey less needed for trading and the market no dey pity person

I no fit talk all the differences here but these ones na the key ones I know say others get too to add, but las las abeg trading and gambling no be the same thing,