I badly categorised myself as a gambler than a trader,, I find it hard to differentiate in times,, as I don’t care about the risk and researching takes ample of time so the chance to buy at lesser price decreases.. I’m a panic buyer,, but not a panic seller.. I do hold longer than is expected from a gambler and I’m not into daily trading..
In short,, I do decisions on my own and may differently not the same as others.. It works for me in multiple occasions then I don’t bother to change..
Topic: What makes a successful trader, not a gambler? - page 13. (Read 2510 times)
I was prefer to do on trading only i play sometime in gambling too but im not realy good in gambling since i feel nervous if i see that i already start losing my money and i got rattle so i think gamble is not my line.
A good businessman always accepts education from the current situation. And Enjoy the benefits from that lesson in future. They will always be positive and In their initiative, they will be treated as another challenge. Need time for good trader and Analysis requires expertise. 
Well, I agree with you in some points, before starting in any field, especially trading we must understand and learn the characteristics that lead to success and profit. Furthermore, many people think that trading is easy and the profit is guaranteed , as well, when they start in that field, their views change and particularly, when they lose a big proportion of their money.
In additon to that, before everything, we must use our mind with a smart way, and then we must learn the market so well and have a different strategies in each situtation (Plan A, Plan B ..) .
If there is someone interested about this field , he/she can follow my tips in this thread: "5 steps for traders"
Hope it can help every beginner trader.
In additon to that, before everything, we must use our mind with a smart way, and then we must learn the market so well and have a different strategies in each situtation (Plan A, Plan B ..) .
If there is someone interested about this field , he/she can follow my tips in this thread: "5 steps for traders"
Hope it can help every beginner trader.
A successful trader knows how to handle his time well, he invest not only money but also time to have a wise decision before entering a final decision, he trust himself and he knows that his life will change if he will do trading well. Trading is like gambling need to have patience throughout the game.
I think that the real trader should focus also in getting more knowledge about crypto and trading everyday almost, in addition with studying carefully the market and analyzing the charts. Gambling depend only on luck, while trading require good knowledge which can help to minimize the risks and increase the percentage of making successful trades.
Trading and gambling both are different and not same. Trading is a wise decision which is taken after doing research and having the future and while gambling nothing much needs to be done in many of the games as those are luck based and you win or lose without any reason.
Trading isn't gambling if you know how the market works, and aren't day trading during very active markets where greed and fear dictate the sentiment. If technical analysis isn't applicable in the aforementioned situations, and it isn't, then trading can be seen as gambling as well. If you also take into consideration that the majority of the people blindly buy themselves into the market, just based on hope, then it's safe to say that guess trades easily outnumber the knowledge trades, and that big time. Taking advantage of everything related to the short term crypto market involves luck. Gambling is a relative term that you can apply in almost everything people do in life. It's not just the obvious.
There seem to be a thin line between being a successful trader and a gambler. You are said to be a gambler, when you do not adhere to certain principles about trading and do things for the very wrong reasons. In addition to what makes you a successful trader, is having a working strategy.
People often mistake gambling to be similar with trading because of the risk of losing your money while in reality, there are some differences such as its method and the fact that it takes skill and analysis to trade.
I'd have to disagree with one of OP's points, which is that gamblers place orders without consideration. While some gamblers really don't, there are some of this who take things into consideration before making a bet. It may take purely luck (and not skill) to win in gambling but gamblers also consider some factors before betting.
Also, when you lose a trade you may analyze the factors which made you lose unlike with gambling which is randomized. Even when a gambler sustains numerous losses, he won't learn ways to avoid losing in the future. Gaining knowledge about gambling won't make you win more, but education of one's self will help you in the field of trading/
I'd have to disagree with one of OP's points, which is that gamblers place orders without consideration. While some gamblers really don't, there are some of this who take things into consideration before making a bet. It may take purely luck (and not skill) to win in gambling but gamblers also consider some factors before betting.
the most important thing is having a brain and knowing how to use it!
everyone starts from zero and works their way up towards becoming an "expert". the difference is that when a good trader makes a trade no matter the result they will gain some experience and the next trade they make will be a better one and little by little they will grow.
a gambler, however, makes a trade but the result doesn't matter to him. if he wins he just becomes happy and if he loses he becomes sad. he doesn't waste any "brain power" to analyze what went wrong or right that led to the loss or profit. that is why not everyone becomes successful in trading...
Having knowledge of what we do is a must. The risk of our transactions will just depend on how we sort things out. Gambling more depends on luck than on skills that makes it differ from trading. We should do finalization whenever we want to trade our coins and know why the market moves that way , it may just due to fuds that makes the loss.everyone starts from zero and works their way up towards becoming an "expert". the difference is that when a good trader makes a trade no matter the result they will gain some experience and the next trade they make will be a better one and little by little they will grow.
a gambler, however, makes a trade but the result doesn't matter to him. if he wins he just becomes happy and if he loses he becomes sad. he doesn't waste any "brain power" to analyze what went wrong or right that led to the loss or profit. that is why not everyone becomes successful in trading...
Also, when you lose a trade you may analyze the factors which made you lose unlike with gambling which is randomized. Even when a gambler sustains numerous losses, he won't learn ways to avoid losing in the future. Gaining knowledge about gambling won't make you win more, but education of one's self will help you in the field of trading/
I was prefer to do on trading only i play sometime in gambling too but im not realy good in gambling since i feel nervous if i see that i already start losing my money and i got rattle so i think gamble is not my line.
Trading and gambling both are different and not same. Trading is a wise decision which is taken after doing research and having the future and while gambling nothing much needs to be done in many of the games as those are luck based and you win or lose without any reason.
I was prefer to do on trading only i play sometime in gambling too but im not realy good in gambling since i feel nervous if i see that i already start losing my money and i got rattle so i think gamble is not my line.
Trading and gambling both are different and not same. Trading is a wise decision which is taken after doing research and having the future and while gambling nothing much needs to be done in many of the games as those are luck based and you win or lose without any reason.
But what if I have mixed of the traits you've mentioned.
- Have a daily note on market view and trend.
- Pay attention to risk management for each trading order.
- Consider coin trading as their career and daytime job.
- Spend most of your time focusing on winning and making profit.
- Place orders without consideration.
- Place too many orders.
What does that make me? ::thinking::
- Have a daily note on market view and trend.
- Pay attention to risk management for each trading order.
- Consider coin trading as their career and daytime job.
- Spend most of your time focusing on winning and making profit.
- Place orders without consideration.
- Place too many orders.
What does that make me? ::thinking::
I agreed on all of the things you said because when it comes to a gambler they just need luck no mind that's all, and when it comes to a trader they need both luck and knowledge to earn.
Yes a gambler depends on a person luck to win the game. To be successful trader a person should have a knowledge overall the trades for him not to lose atleast single penny. It requires of having knowledge, determination and ofcourse patient that it has a process not an instant way to become successful.
A gambler, specially when it is just dice. Click and click. (this is me doing manual dice 
)
A trader, wait more and sometimes forget about it for a day with just orders left in the trading site.
There is a lot of difference with the two. It is just the risk that makes them almost the same. But with gambling you can lose it all but with trading you can somehow save it before it ends up zero or wait more for it to be pumped again.
)A trader, wait more and sometimes forget about it for a day with just orders left in the trading site.
There is a lot of difference with the two. It is just the risk that makes them almost the same. But with gambling you can lose it all but with trading you can somehow save it before it ends up zero or wait more for it to be pumped again.
Trading is a Skill while gambling is just greedy move without considering about the conclusion.
Successful trader needs to be knowledgeable and should aware of the market circumstances, that means both knowledge and experience are much needed to become a successful trader.
Successful trader needs to be knowledgeable and should aware of the market circumstances, that means both knowledge and experience are much needed to become a successful trader.
The most important thing that is needed to acquire in order to become a good trader is the sense of realizing is this coin worth trading ?
This sense only comes with experience in trading . One will never acquire this ability at first time and failure at some points are meant to occur , so one needs to be prepared for that too . Other than that , one must have contacts to discuss about what is the best strategy to trade , this would only help you to trade in a better way . Patience and tolerance are also the key factors.
This sense only comes with experience in trading . One will never acquire this ability at first time and failure at some points are meant to occur , so one needs to be prepared for that too . Other than that , one must have contacts to discuss about what is the best strategy to trade , this would only help you to trade in a better way . Patience and tolerance are also the key factors.
I agreed on all of the things you said because when it comes to a gambler they just need luck no mind that's all, and when it comes to a trader they need both luck and knowledge to earn.
I was prefer to do on trading only i play sometime in gambling too but im not realy good in gambling since i feel nervous if i see that i already start losing my money and i got rattle so i think gamble is not my line.
I agree on what you said because for me a trader is more safe and has more time to decide and has a bigger chance on winning rather than just gambling you will do is just buy and hope for the best
It is not that much foolish that you need only to buy the coins blindly and then wait for them to be much more precious than the previous value in the matter of days. All I have experienced says that you are needed to choose wisely between all the available choices by having a clear analysis and prediction about the future of that very coin being used in the trading. 
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.
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 can say that these are clear tips for us who are getting started into cryptocurrency trading. It is important that we should not treat this as a replacement of a full-time job or business. I would ratehr treat this as a way to fuel a business or extra money to buy something that we want either material things, investments, donations, etc.
Yeah Maybe this is a tips to those people who are new in trading, yes we should think that trading is just an extra money of we earn more profit then it's good but don't quit to your job just to do a trading because trading is really risky.
I agreed with almost all of the points. But I have a question, why is placing too many trades being considered as a gambler? Diversify is supposed to reduce risks.
Trading too many trades you can handle is gambling if you are actually trading and not buying at the bottom and expecting a pump. A trader usually look for a market that is giving signal and utilize those moments to buy and if you have too much on your plate at once, how do you really want to monitor them except you are a robot.Diversifying is very good, but letting it become too much can also affect you. With the way the market is most especially, if you hold too much as a short term trader, you may end up running into more loss than you can imagine. At the end though, it all balls down to your trading knowledge, your style and what you are comfortable with.
Jump to: