Topic: What makes a successful trader, not a gambler? - page 7. (Read 2510 times)
I don't usually gamble so I would like to mention the winner's attitude from traders making handsome amount of profit from the trading activities. I have observed that traders usually try to follow the direction which is against the mass flow. As the great investor Warren Buffett says "be fearful when others are greedy and be greedy when others are fearful", it is based on the psychology of masses which results in good profit while trading and investing. A trader has scientific approach towards his decisions and thus he can make decisions without relying on his emotions which is not the case in gambling.
the people trades in cryptocurrency goals to be a good and professional trader, they have their own reason why they use and enter those platforms as you've mentioned some of them is a gambler, out of curiosity they tried to make a trade on a specific coin without knowing the volatility, condition, and usage as some newbies and professional traders comes from a gambler, they tend to check it out and see how things work as they prefer to learn it in action rather than to read....
probably the same of both is to have the brain to think and the heart to have a conscience.
but both of them will also be destroyed when it has a greedy nature, believe me because of the greedy nature that exists in every human being.
Thats right, that's why self-control is so necessary in crypto trading. sometimes prices rise very rapidly and make many people blind, many of them too greedy and then wait long to keep prices up. but it is precisely your greed that will harm you, because it is very possible you miss a great opportunity to sell because of greed. but both of them will also be destroyed when it has a greedy nature, believe me because of the greedy nature that exists in every human being.
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.
Gamble they think very quickly for profit. However, the fact that gambling more lost than profit. Trade is a very smart way and the best way to earn money.
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.
Gamble they think very quickly for profit. However, the fact that gambling more lost than profit. Trade is a very smart way and the best way to earn money.
I fully agree with your list of characteristics. I think to become a good trader, you have to study for a long time. It's very difficult, at least for me. I still can not control my emotions(
Don't worry mate. We all start like that. We are dominated by our emotions when we first trade but later on as we get more experienced, we focus more on our strategy rather than our emotions so that we can be a profitable trader. The difference between a trader and a gambler is that a trader focuses on his strategy or trading plan while a gambler focus on winning. As a trader, every time he trades, he takes into account when he should buy or sell to have profits but a gambler focus more on emotions and more often than not, do not depend on strategy and depends on luck.
if one wants to be a successful trader, it is necessary to have a specific strategy and a backup plan if he loses all amounts in this trade. So, learn the basics first before starting a trade or you will lose your money in no time. You are right we have to trade with skills and knowledge rather than luck, maybe practice for a few times but not all the time
Being a trader is just like being a gambler, in order to success both analyze the situation, same as traders analyse a chart and a gambler analyze the game. So it depends now on their analyzing skill.
if I think that makes a lot of successful traders because of his enormous hard work. by way of trading and investing, because with the focus of both the opportunity for success is very easy.
Gambler's is usually a risk taker and mostly they often have risk assessment and in trading the most important thing is to evaluate the risk prior everything, so I think gambler's are successful in investment and not in trading since they always have meeting the risk, and traders should always avoid that. To be successful in trading we should have skills and strategy with patience and able to understand market trends. 
if I think that makes a lot of successful traders because of his enormous hard work. by way of trading and investing, because with the focus of both the opportunity for success is very easy.
And sometimes both were not present, there are times that we need to gamble it in times we need some earnings and doing day trading is more depends on how we can gamble in time. 
if I think that makes a lot of successful traders because of his enormous hard work. by way of trading and investing, because with the focus of both the opportunity for success is very easy.
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.
The first step after we open a trading account, then we have become a trader.
We may be lucky with tantalizing results up to a few tens of percent per day, but it's all just a coincidence. We may initially only rely on one indicator or even just by instinct, in the end you can still profit. However, the market will beat you quickly. There's not a successful trader just by relying on successful. Because, loss after loss will come to you every day until your capital out of time.
Therefore:
Take care of yourself not to be overwhelmed by your emotion especially from greed, because you can be obscured by your emotions so you can't think clearly.
Do not put money and trading like crazy.
Learn hungry for science like a passerby in a barren desert that is thirsty for drinking water.
Be able to combine each indicator, if you know exactly the benefits of the indicator.
Asking stupid questions on senior traders. But this's not over still a long way to become a successful trader.
probably the same of both is to have the brain to think and the heart to have a conscience.
but both of them will also be destroyed when it has a greedy nature, believe me because of the greedy nature that exists in every human being.
but both of them will also be destroyed when it has a greedy nature, believe me because of the greedy nature that exists in every human being.
what is the purpose of brain if you cant think and decide properly? What is the purpose your heart if you are still emotional? Did you got my point? I bet your not because you cant see my comment here either.
having a heart and a brain is not enough in order to be a succesful in trading. You also need to think well and dont let your emotions swallow you in order become good at your decision making.
but overall mastering those traits wont still guarantee you a succesful trader because the reality is there is no succesful or pro traders because all of them are still exeprience to looose due to the fact that cryptos are unpredictable.
Emotions would really be a big factor when it comes to trade even having or making decisions on our own lives with just on traditional decision making scenarios where emotion is a big factor that can really affect ones decisions being a traders isnt really gambling yet we can make our own decisions basing on our knowledge and experience that we do have unless if you are just pinpointing then it would be considered as gamble.
probably the same of both is to have the brain to think and the heart to have a conscience.
but both of them will also be destroyed when it has a greedy nature, believe me because of the greedy nature that exists in every human being.
but both of them will also be destroyed when it has a greedy nature, believe me because of the greedy nature that exists in every human being.
what is the purpose of brain if you cant think and decide properly? What is the purpose your heart if you are still emotional? Did you got my point? I bet your not because you cant see my comment here either.
having a heart and a brain is not enough in order to be a succesful in trading. You also need to think well and dont let your emotions swallow you in order become good at your decision making.
but overall mastering those traits wont still guarantee you a succesful trader because the reality is there is no succesful or pro traders because all of them are still exeprience to looose due to the fact that cryptos are unpredictable.
in my view i have both gambling mentality and trading mentality a mix of both it is because of market volatility our decisions and actions change
I fully agree with your list of characteristics. I think to become a good trader, you have to study for a long time. It's very difficult, at least for me. I still can not control my emotions(
probably the same of both is to have the brain to think and the heart to have a conscience.
but both of them will also be destroyed when it has a greedy nature, believe me because of the greedy nature that exists in every human being.
but both of them will also be destroyed when it has a greedy nature, believe me because of the greedy nature that exists in every human being.
what is the purpose of brain if you cant think and decide properly? What is the purpose your heart if you are still emotional? Did you got my point? I bet your not because you cant see my comment here either.
having a heart and a brain is not enough in order to be a succesful in trading. You also need to think well and dont let your emotions swallow you in order become good at your decision making.
but overall mastering those traits wont still guarantee you a succesful trader because the reality is there is no succesful or pro traders because all of them are still exeprience to looose due to the fact that cryptos are unpredictable.
probably the same of both is to have the brain to think and the heart to have a conscience.
but both of them will also be destroyed when it has a greedy nature, believe me because of the greedy nature that exists in every human being.
but both of them will also be destroyed when it has a greedy nature, believe me because of the greedy nature that exists in every human being.
I did prefer do on trading only. I play sometimes in gambling games too, but I'm not really good because I'm nervous and panick every time
In my opinion, the main thing, that makes difference between them is that trader never relys on a event or luck, so this defines.
Traders depend more on luck than anyone else in this market, regardless of how experienced they are. This isn't the stock market where equal minded institutions rule the markets based on their analysis, where they also filter regular orders coming through and let their high frequency department exploit that advantage.
The crypto market can be seen as a war zone where traders from all sorts of different categories battle against each other, and that non stop. There are so many variables involved, that every step you set is a gamble that will either end up in profit or result in a loss. I have yet to come across a trader that manages to book consistent profits in this market. One day isn't the other; today's profits are tomorrow's losses, that's what this market is.
However, it has few potential crypto assets that can actually make a trader rich if he handles them efficiently. Trading is all about skills and foresight.
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