Topic: What makes a successful trader, not a gambler? - page 15. (Read 2477 times)
Gamblers and traders are obviously different from several factors and characteristics, both have just the same should to act decisively and do both not necessarily use emotions, because emotions will disrupt your concentration.
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 for 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...
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 for 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...
Yes. I understand that the most important thing is to have experience.
Always take profit at every little profit dont wait for too much profit dont let greed overshadow your judgement
Without proper knowledge about trading can be considered as gambling, the above point mentioned by OP are most important things to remember for a trader, most of the traders look the only high value of returns but they won't bother risk involved in it, because it need lot of patience and lot analysing capability in order to make profits through trading.
i think i have more likely trading characteristic rather than gambling characters but i would not says i'm sucessfully trading because i was suffering several loss during my trading activities but the most difficult to maintain my emotions while trade because it is sometimes ruin my plan and eventually i lost my money and regretted it
To be a successful trader you need to know the market movement and the investors favorit coin, to become a good trader need time and need alot of analysis skill, a trade without proper basic and skill is the same with gambling, in trading we got data to compare so it's easier to predict the movements while in gambling we are depend on luck
I know many traders in real life who do it for a living.
Basically one thing they all have in common is experience.
Most of them have been traders for 10-20 years. I don't know anyone who does it successfully and consistently thru the bear and bull markets with less than that timeframe.
And experience is something you can't teach but you need to experience.
Many of us became good traders during the last bull market but how many will survive thru the bear and sideways markets.
It's not only crypto. Stock markets are also suffering.
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 for 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...
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 for 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...
Yes. I understand that the most important thing is to have experience.
yes that's what it takes to be a successful trader
understanding the methods of what we do is very important
after understanding all the methods, then we must be smart to control the emotions and be patient
understanding the methods of what we do is very important
after understanding all the methods, then we must be smart to control the emotions and be patient
To be a successful trader you need to know the market movement and the investors favorit coin, to become a good trader need time and need alot of analysis skill, a trade without proper basic and skill is the same with gambling, in trading we got data to compare so it's easier to predict the movements while in gambling we are depend on luck
I know many traders in real life who do it for a living.
Basically one thing they all have in common is experience.
Most of them have been traders for 10-20 years. I don't know anyone who does it successfully and consistently thru the bear and bull markets with less than that timeframe.
And experience is something you can't teach but you need to experience.
Many of us became good traders during the last bull market but how many will survive thru the bear and sideways markets.
It's not only crypto. Stock markets are also suffering.
To be a successful trader you need to know the market movement and the investors favorit coin, to become a good trader need time and need alot of analysis skill, a trade without proper basic and skill is the same with gambling, in trading we got data to compare so it's easier to predict the movements while in gambling we are depend on luck
The point is, good trader always find time to learned from the current events, both earned or lose they find new strategy to use on their next journey
they will always be positive and treat mistakes as another challenge to their venture, unlike risky traders where they are just contented trying their
luck to find earnings, if they gain from their current trade then they will enjoy but if they lose then they will just do the same thing all over again, nothing
will be change to their approach.
they will always be positive and treat mistakes as another challenge to their venture, unlike risky traders where they are just contented trying their
luck to find earnings, if they gain from their current trade then they will enjoy but if they lose then they will just do the same thing all over again, nothing
will be change to their approach.
Trading without proper education is consider gambling and its too risky to do that since the market is highly volatile. Successful trader may not always make good money but since he follows what he set for a specific tradings it can still be consider as a successful one.
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...
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 for 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...
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 for 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...
yes you are right many ways to be successful from playing trading and most importantly I think you should be able to control your emotional state and can be patient because if you can not wait it seems difficult to be able to get a profit.
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.
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