What makes a successful trader, not a gambler? - page 10.

herurist

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Quote from: Owen7021990 on April 05, 2018, 10:31:32 PM

Here are some characteristics of successful traders and gamblers:

A gambler:

- Have no transaction method.

- Do not take notes of your views on the market trend daily.

- Don’t care about risk management

- Spend most of your time focusing on winning and making profit.

- Let emotions dominated their mind when trading

-Place orders without consideration.

- Place too many orders

A trader:

-Understand and master an effective trading method

-Have a clear and specific trading plan and comply with it.

- Have a daily note on market view and trend

- Pay attention to risk management for each trading order

-Don’t set making profit and winning as their 1st priority

- Only make the deal when the price model matches the method.

-don’t let emotions control their actions

- Consider coin trading as their career and daytime job.

If you have those characteristics of the gamblers, you should change it immediately. If you have trader traits, maintain them for as long as possible and remember to always think twice before doing.

I agree with you but as long we can obey our strategy and never break it, successful trader is ours. I believe the main reason we can't become successful trader because there's no good emotion control. If we can control our emotion, character will come by it self. No need to run and get it, so keep learn and try to control our emotion, that's important.

bitbunnny

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Gamblers rely on luck and coincidence and that takes no knowledge. Traders have serious approach to market, they need some knowledge and experiences, a lot of hard work of studying and analyzing the market and how finacial world in general is functioning. They take the risk with caution and estimate their activities.
So I don't think gambler and trader are the same thing and I don't put them in the same basket.

Coinhype

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I think the experience makes a trader. So people who are trading since years in the stock markets, those people will make a huge profit in the cryptocurrency world. Even when stocks are something totally different then cryptocurrencies, i believe that those people can make a huge profit with their experience in chart technik and the psychologial aspect of the other investors. So i think cryptoworld is much more sensitive then the stock market and you have to be even more carefull!

Xardasim

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Traders mainly care about the necessary parts of whole market. If we compare this profession with gambling, gamblers only try their luck and they will lose all amount sooner or later. Trading requires the mindset and pyschology, despite the speculation and manipulation. This profession suits the personal advantages of trader.

maloibtc

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I agree with the list of features of both trader and gambler you provided. As for me, I prefer being a trader and weigh all pros and cons, make calculations before taking risks when trading. I think traders use analytical mind more

Sadlife

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The thing about gambling that it's pure luck. Gamblers makes money on probability not by analysis and it's very risky depending all your money in luck. In trading you get to control your money and how much you profit from it through technical analysis, indicators, candle pattern and daily news to come up with an strategy.

tumokatok

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Quote from: zuyfg888 on April 13, 2018, 07:41:56 AM

It is all about trading, taking the risk is one of the structure in trading. Like in gambling, the higher the risk, the higher the return will be. Let’s not assured that we can earn high in trading, just like gambling, we can earn high if we take the risk.

Must be able to control your emotional state and can be patient because if you can not wait it's hard to get a profit. And many ways to be successful from trading play and most importantly in addition to controlling your emotions while trading you should also be able to read the potential of your coins

nightways

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Quote from: ghost14k on April 09, 2018, 03:24:35 PM

You just said it all. Those qualities you listed explains both of them well. Have a clear set of mind and not trading with emotions is the main difference between the two. Mastering how to avoid trading with emotions is the major thing and if you can avoid such then you are really coming closer to your goal. Always jot down to avoid making same mistake twice.

A clear set of mind comes with a clear brain filled with knowledge and obviously gives you the skills to do things right. That is the disadvantage a lot of newbies who just think trading is all about buying low and selling high have. It may be a strategy to them, but to me I call it gambling when you do not know what is low or what is high with the use of tools to guide you and that knowledge and gaining of experience from the knowledge that makes a successful trader.

Dobmader

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Quote from: Camorra Dev on April 17, 2018, 06:55:16 AM

I think people became trader are always a bit players. I've played poker, and I wanna say its a bit similar with that

Becoming a better trader is always a better option than becoming a successful gambler as gambling is something too risky and that it has very less chances of making you earn some good money. You can become a better trader but for that you need to burn your midnight oil and that you need to learn so many things as well which can then help you in making better trading strategies for better earning.

BaraxLo

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Quote from: sgenuine on April 18, 2018, 05:25:14 AM

A professional gambler also controls his emotions and he is also ready to fail and to wait. However, I guess that trading is a more reliable stuff, and you need more knowledge here.

I don’t really think so that there is any point of gambling as this is a very risky job to do and that it is all and all your luck and nothing else which can help you in making money while gambling. You need to make a better choice and that trading is a very good option which can help you in getting more profit but for that you need to polish your skills and that you need to go for learning new techniques.

Kiweikoo

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Quote from: BlueStackz on April 18, 2018, 09:15:13 AM

Quote from: Owen7021990 on April 05, 2018, 10:31:32 PM

Here are some characteristics of successful traders and gamblers:

A gambler:

- Have no transaction method.

- Do not take notes of your views on the market trend daily.

- Don’t care about risk management

- Spend most of your time focusing on winning and making profit.

- Let emotions dominated their mind when trading

-Place orders without consideration.

- Place too many orders

A trader:

-Understand and master an effective trading method

-Have a clear and specific trading plan and comply with it.

- Have a daily note on market view and trend

- Pay attention to risk management for each trading order

-Don’t set making profit and winning as their 1st priority

- Only make the deal when the price model matches the method.

-don’t let emotions control their actions

- Consider coin trading as their career and daytime job.

If you have those characteristics of the gamblers, you should change it immediately. If you have trader traits, maintain them for as long as possible and remember to always think twice before doing.

Wow, man you’re very right! These are really the qualities of a real trader which can differentiate them from a gambler. Gamblers don’t care about anything that has to do with market trend or whatever, all they care about is just to put in money and take the risk, whether to win or to lose.

But a real and professional trader will always consider a lot of things before making any move. But not everyone is an expert, there are people who don’t know anything about the business and can make mistakes most times.

A successful trader step into the market with certainty and creativity. Irrespective of what the market condition are, he never accept pessimism, rather chooses optimism.

They keep an eye on the market prices, market response. At times would invest in assets which might not look beneficial in short run but in long run is often the habit. A gambler on the other hand might call the lack of these characteristics either the lack of luck or a bad fortune.

trand

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Knowledge and patience are the keys for us to become good trader. AS you can see, there are many gamblers in trading field cause they do not want to learn more about trading and all they want is to make as much money as they can without trying to obtain any knowledge or making any analysis

RoftheN

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For one to become a successful trader he has to lose many trades before learning important trading lessons. These are lessons that one will only learn after trading himself and you wont learn it from anyone else. Also a successful trader is one who is calm and patient and doesn't gets panicked with small price dumps.

Kunlejoe0

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Speculation is what make trader different from gambler. Gambling is dependent on chance and luck while trading is making a risky investments in the hope of making higher return.

Alijiindahaus

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Quote from: Sowik on April 18, 2018, 10:22:56 AM

Nice, getting emotions into trading is never a good thing. I just use my stop-losses to stop my trades in case anything bad happens. Emotion-free.

Sergei subway south-west would not even compare gambling and trade. The fact is that in trade you practically control everything yourself and if you can, you will avoid unforeseen losses and risks. In gambling, it does not work that way, because you won or lost.

Sowik

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Nice, getting emotions into trading is never a good thing. I just use my stop-losses to stop my trades in case anything bad happens. Emotion-free.

BlueStackz

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Quote from: Owen7021990 on April 05, 2018, 10:31:32 PM

Here are some characteristics of successful traders and gamblers:

A gambler:

- Have no transaction method.

- Do not take notes of your views on the market trend daily.

- Don’t care about risk management

- Spend most of your time focusing on winning and making profit.

- Let emotions dominated their mind when trading

-Place orders without consideration.

- Place too many orders

A trader:

-Understand and master an effective trading method

-Have a clear and specific trading plan and comply with it.

- Have a daily note on market view and trend

- Pay attention to risk management for each trading order

-Don’t set making profit and winning as their 1st priority

- Only make the deal when the price model matches the method.

-don’t let emotions control their actions

- Consider coin trading as their career and daytime job.

If you have those characteristics of the gamblers, you should change it immediately. If you have trader traits, maintain them for as long as possible and remember to always think twice before doing.

Wow, man you’re very right! These are really the qualities of a real trader which can differentiate them from a gambler. Gamblers don’t care about anything that has to do with market trend or whatever, all they care about is just to put in money and take the risk, whether to win or to lose.

But a real and professional trader will always consider a lot of things before making any move. But not everyone is an expert, there are people who don’t know anything about the business and can make mistakes most times.

jrrsparkles

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Most of the people doing crypto currency trading as like gambling mainly depends on the luck but we can't be successful by only trading through luck the skills are important to be a professional trader.

otundebis

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One thing about your market view and keeping the record is that in cryptocurrency, what work yesterday may not work today. Cryptocurrency market is the fastest market I have ever seen. Everything changes.

Wowcoin

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Trader used there skills to do trading they learn how to trade that they will get a good profit. Gamblers taking risk they need more luck for them to win and they need self control to get profit.

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