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801  Economy / Gambling discussion / Re: Do you have a habit of tracking your gambling progress? on: April 07, 2024, 07:51:15 PM
Not everyone have the mindset of tracking their past gambling activities it’s just for people that is very serious in gambling that usually gamble every week at least a few times because they would want to know how they have won  on the past and their losses they would want to recover and get back every lose so they would like to keep their tracking active and check out the basics move they need to take before proceeding on more gambling activity.
This context, if not careful of, can even cause addiction to gamblers. If one can be gambling to be point of taking the inventories of the gambling always and flashing back to the past, then such a person has taken gambling to be a too serious business and may trigger emotion. But I see no how this is helping out at all because gambling can only be won either by luck or by expertise, or both, and not by looking at the past results.

Good, it could be nice if one is evaluating his gambling activities so that he makes a decision on whether to continue to gamble or quit. But this is not often the case but to be opening some fresh wounds of how much money the person has lost in the past. This is why I don't do it, but notwithstanding, indifferent about this since it will not add value to my gambling. Instead of looking back at the past, I focus on the present and the future, and the best way is to sharpen my gambling expertise well and pray for better luck.

In addition, I work more on my gambling psychology and management which I know will always help me not to go astray but to maintain a responsible gambling character.
gambling's complicated. Believe me, I've seen the best and worst of it. Some call it addictive, and they've got a point. Get hung up on past bets, and you're in trouble. Thats when the house always wins. But its not just luck, not about some magic skill. Success, in gambling and in life, comes down to strategy. Understanding yourself. Your limits, your mind. Thats what separates winners from, well, lets just say its a big difference.

You cant rewrite the past. Dwelling on losses, wins, its a trap. Focus on the game in front of you, improve yourself, thats where progress happens. Some luck helps, obviously, nobody's perfect. But above all, be responsible. Thats the winning play, I guarantee it.
You have said it all and got it perfectly right, gambling is more complicated than people think and there is no certain/perfect solution that will cover for all the needed actions at all times. Whether we look back or move forward in it, it is all about trying our best and leaving the rest, nothing works best for it but mostly luck. What you used that worked today might not work tomorrow, and what failed today might be what will win the Jackpot for you the next day, so it works haphazardly. But one thing that is sure is that we should try not to miss out on gambling aright and be responsible about it even as we forge ahead and remain focused. We should do our part to have good and advanced skills (if possible as seen in some settings), budget and management and adhere strictly to them with discipline so that we do not go astray to the point that we will be irresponsible towards.
802  Alternate cryptocurrencies / Altcoin Discussion / Re: Ripple plans to launch USD stablecoin, it shakes Tether and USD coin on: April 07, 2024, 01:17:05 PM
That's nice of Ripple. But one sure thing is that it will certainly join the queue and not automatically displace the existing market that has always gained prominence. The fact that Ripple (XRP) is already a well-known cryptocurrency doesn't mean that its stablecoin project would be an automatic success. What they are trying is a test/effort, however, it's not all what you test that will work.

You can imagine how Binance and BNB did well in the crypto market, but BUSD was unable to do so due to one thing or another to the point that the company behind it has to face it off. I did not say that the case of Ripple's stablecoin will be like that but it must also face challenges of its own and not just dominate the market easily as though.

Also, I still see USDT retaining the number of stablecoin in the crypto market with no stablecoin able to displace it in a matter of decades. It is about $107B by market cap currently, even as the closest rival (USDC) is more than 3 times lower than it (almost $33B now). The Ripple's stablecoin will rather rival the USDT and not the USDT.
803  Economy / Gambling discussion / Re: Does it looks responsible as woman telling husband you gamble? on: April 07, 2024, 12:45:38 PM
What is even so secretive about gambling that we can't share with our spouse? Gambling is not criminal, and neither is it a stimulant that can injure one's life, it is just part of the way of life, an activity of betting, it should not be secretive at all, especially if we are wise about it. But if you know that your spouse would frown at it, it is better you quietly it immediately and quietly. That's if you can tell him or her directly. Still, I advise that people tell their spouse so that they know the direct response. Who knows, the whole situation might be surprising to some people as their spouse could accept it, especially if the gambler is living a quality life and is responsible towards gambling to the extent that people may not even know that such a person is gambling.

This is the kind of gambling lifestyle we want, everyone can be proud of this, unlike the way most people go about gambling which makes people view it as irresponsible. Lastly, good family members, especially couples should be able to know everything about themselves, so letting the spouse know about this is the best way out. Unfortunately, keeping it till the spouse detects by his or herself may lead to more issues/damage than telling him/her yourself.
Maybe for some people gambling is okay to be share to their spouse but for some people, that is a secret that no one needs to knows. As long as that person can be wise using gambling and can be a responsible gambler, she will not have a problem when playing gambling or after she finish playing gambling. But there are a chance for her to gets deeper in gambling, especially if she lose control while playing gambling. She will not gets a help from anyone when she gets a problem from gambling and that's why she must tells to her spouse about her gambling activity. If her spouse knows about her gambling activity and he is not agree with that, he can asks her to stops his gambling activity for her own good. Our spouse will suggest the best thing for us so we will not makes a problem for our family.

If someone used gambling as his lifestyle, he will not be able to follows because playing gambling needs money while we have many things to be filled. It's better we can used as an activity like the other activities and not playing gambling too often to avoids many problems or impacts that can occurs while we interact with gambling. If we wants to playing gambling, we must have self control and responsible in gambling so we don't have to lose much money and can still enjoy gambling as an entertainment.
I am not judging anyone but what you just mentioned in the first line is one of the issues with marriages these days, why end up with someone you can't share everything with in the first place? That's what the person will have to live with for the rest of his/her life which I don't think is cool. I understand that relationships are not the same and we have to "dance to the music as the beat sounds," nevertheless, if such a little matter can be hidden, much worse would be hidden/pretended as well which will not make the spouses to be plain with each other and I do not see that as a good relationship. This is sad. I do not want to sound like a relationship expert but a concerned fellow.

I won't ignore the fact that I love peace in every relationship, which will always make me advocate one mind in relationships, or quit if that is not possible to avoid future issues. Gambling matters is the easiest thing I believe any free spouse can discuss, and for the good of the family, the resolve of both of them should be the final. After all, gambling is not a must, you guys may resolve into better things that will even be more beneficial to the family than gambling. Thankfully, you mentioned the spouse possibly helping in case of addiction or gambling challenges. However, if the spouse does not share the gambling issue but rather wastes money which affects the family both directly and directly, that can't be cool.
804  Economy / Gambling / Re: The most liquid companies in the gambling industry on: April 07, 2024, 12:25:15 PM

However, it is a means that can reveal our identities as well, which is the only valid issue people always point to. Because such identities revealed to the company through the KYC could be leaked, thereby compromising our privacy in one way or another. Nonetheless, once you are a centralised company, you must obey some regulations and rules, unless you are not answerable to any country or authority. This kind of arrangement will even make customers wary of such companies and might reduce patronage which can bring about liquidity to the companies that aspire growth.
Once you provide your  kyc forget about you identity,  it might  not be revealed  to large number of people but what I do know is they know about you already .

Apart from leakage, if a company later becomes  a scam I guess that sucks even more Tongue, although we have nothing to do about it maybe someday inches future the system of Kyc will be completely  scrapped but for now we have no choice  than to continue  paying  our kyc debts....  and for the companies they will also continue  obeying the government  once they need some details about a kyc  in as much they are under the government  unless they don't  want to lose their licence and go off business.
This is my only concern about KYC, but we do not have a choice if we want to abide by the terms and conditions of the companies we deal with, and they also will have to obey the law of the land they domicile and follow the directive of their regulators. I believe that the government also would have weighed the risk of sharing our data with other parties in the name of KYC and the benefits of the KYC itself for them to have concluded that we should continue to do so. The benefits would have outweighed the risk to have warranted that. I am certain that sharing our details with companies exposes us because I remember that strange numbers would just be calling me and trying to persuade me to be their customer, especially when I just signed up with a certain company. I also received emails from the companies I never signed up for through my official email address which I only take seriously formal.

These can only be possible through data leakage and the completion of KYC is responsible for that. But this can't end as you thought, it can only be done better. Perhaps, in the future, the government can restructure the way companies cheaply have assets to our details, what if they are bad? Each government might create their national data bank for this purpose where details and documents can be dumped in favour of a certain company and get verified instead of the companies themselves. By that, the companies would have satisfied the government's demand but not necessarily have to possess the documents of their customers directly, except for the communicating details like the email and phone number for security reasons.
805  Economy / Economics / Re: considering the advantage of Fiats over Cryptocurrencies on: April 07, 2024, 11:48:13 AM
What I see here is that most people reviewing Fiat and Cryptocurrency are often too lousy, but always, my resolve is that the two will continue to coexist. We should not place one over the other as both have their advantages and disadvantages. Even when we weigh the advantages and disadvantages of the two, I am still certain that Fiat will win Cryptocurrency in this regard. Notwithstanding, we should respect the two and let them continue to serve us when we need them and for the purpose we need them.

Going by the context of this thread, a few of the ways Fiat outstands cryptocurrency are stated below:

1. It is reversible. Those who did transactions wrongly, or were scammed, or got their account hacked but later detected and seized will appreciate this better.

2. Fait can do without crypto, but crypto can't do without fiat. This is evident in the way we exchange our cryptos for fiats before we can spend them in most cases.

3. Its centralisation has enough advantages than people think.

4. Your lost access to Fiat can also be recovered.

5. The high volatility of crypto is more disadvantageous to rely on than to trust.

6. Loss of assets when you die.

7. Higher accountability and economic growth of a country.

8. Higher investment opportunities.

9. And many more...


806  Economy / Exchanges / Re: Philippines bans Binance on: April 07, 2024, 11:27:30 AM
Bro, above all reasons, sentiments, wants and wishes, your country must come first. Damn what the citizens are saying about it or the benefits they get from Binance, the exchange cannot reap from the country and not remit the needful taxes for the benefit of the country. It is either they allow the fortune to be well distributed among the concerned parties, or they forget about the relationship with your country. It is never too much for your country's government to ask from an exchange. But it was certain Binance didn't want to cooperate with them after giving them enough time and even extending the grace by an extra month. They seem to want to gain ALL which is so selfish.

Also, they might be afraid of the money laundering activities that could be uncovered if they allow the country's government to oversee a lot, which is normal. You can see what is happening with the US branch of exchanges and how they uncover a lot of cheating, price manipulation and illicit financial flows. I wonder how rotten the global branches of these exchanges would be. It would be so unspeakable, is this what a responsible government would allow to be going on unabated despite having a link to their country?
It's because the local exchanges have a larger spread and the rates are better with Binance. Can't control the minds of the people if they say that for real and they're everywhere if there are news on it that are posted on social media, mostly swarmed by our fellow countrymen that don't like the decision but anyway, there's a new update that even the app will be banned soon.
I quite understand you and also share in the pain of the Philipines, but, I repeat, your country must come first. I share in the pain because it happens in my country too. The P2P initiative and even the direct internal transfer to our bank account from Binance and other exchanges are the best, they have the Buying and Belling prices that are good with a very ridiculous spread in most cases. This means that you part ways with a very little amount of money if you Buy today and Sell tomorrow, or Sell today and Buy tomorrow. This obviously put an end to the undue dominance of the local exchanges that I can only term "Rippers and Extortioners."

I started using the local exchangers services many years even before the introduction of Bitcoin and I've exchanged a whole lot of different digital assets with them. The service is always the same, even as they dominate the market in the manner of no competition but for ripping purposes. Crypto exchanges however put an end to that. For you to understand how bad it was in my country ($), imagine, quoting the Buying price of an asset to be $2,000 and the Selling price to be $1550, leaving us with the Spread/Charges of $450. Is that not wickedness? That's what the government is forcing us into again. Well, let's just take it as collateral damage, a price that must be paid before exchanges do the needful, because our governments are not at fault here, they are only demanding for their rights.
807  Economy / Gambling / Re: Building a unique Casino game from scratch. What features do you want? on: April 06, 2024, 09:33:52 PM
I like to start from the issue of KYC immediately upon registration or when the customer requests a withdrawal. Well, it could be done either way, it is your choice, just like others do it. But for a new casino, I think asking for the KYC completion immediately upon registration could be discouraging, some people could abandon the casino just for that reason, especially if they already have the casino that is serving them right. But still, holding a withdrawal at ransom of KYC completion is not so cool either.

Let me suggest this, perhaps, you should give the grace of 3-6 months with a counter reminding the gambler of a KYC completion. By this, you would have been fair enough and they would have tested your platform also. It would not hit them unawares and will not make you look wicked to have asked for it when they need their withdrawal.

What if they can't complete it then due to one reason or another?


Some proposed features
  • All revenue generated from this game is distributed among active players for the first few months
  • Live active users count so you know who else is playing at the same time
  • Solana, Bitcoin, Ethereum deposit options. No fiat for now
  • Lo-fi cafe/arcade-type aesthetic

I'm hoping to launch this sometime in the next few days. Any suggestions are appreciated!! I look forward to building this together.
I just saw your post today and it is running towards a month now without coming back to make another post. I hope you've not abandoned the project and this forum. However, the Solana, Bitcoin, and Ethereum deposit options are good but more options with low transfer fees will go a long way. Good luck!
808  Economy / Gambling / Re: Casinos not asking for KYC to register and play, but do require it to withdraw on: April 06, 2024, 09:05:32 PM
I find it simple - dont gamble at all if you dont want to play under their rules. Open your own casino and do whatever you want. I strongly believe that casino will never ask for KYC just for fun, just because you are some kind of a special player and their security team decided to pay attention to you. They do ask KYC if they find there is something suspicious about you. If you havent violated anything, there will be no problem to pass it. Scared of loosing identity, go to decentralized casinos. Quite simple, clear and no need to stretch this situation, turning topic into hundred pages long.
Gamblers are free to make decisions about registering with a particular casino. Now if a casino makes KYC verification mandatory and a gambler is not interested in doing kyc then that gambler will refrain from joining this casino because casinos will never force gamblers to join their casino. However, if some casinos do not make kyc mandatory, casinos use kyc as an excuse to withhold the gambler's winning funds when the gambler wins big. And the casinos that engage in such activities can never be trusted casinos, they can create even worse situations for the gambler in the future.

Do you mean to say that casino with mandatory KYC is more trusted than those casinos with no mandatory KYC? If you think so, I have to disagree because once players created an account in casinos where KYC is not mandatory but there is clear statement that the casino reserves the right to ask KYC at anytime or for special cases, means that players agreed with this terms already. Casinos asking KYC for big amount of withdrawal can be said as normal thing, although I dont like KYC but I can accept this situation. As long as the casino release the withdrawal once KYC is completed, there is nothing wrong with it.
From what I read with you guys, I think you are still saying the same thing, and this is a norm with casinos these days. You can see casinos asking for the KYC completion before you start depositing your money, which I believe is the fairest now, just the same way you would see casinos that would allow you to deposit and start betting without asking you for the KYC. But what amazed some customers, or should I call it disgust them is that they might have been playing with the casinos for years before they suddenly asked them for the KYC completion. How off and inconvenient could that be?

This has made them relaxed for too long and might not immediately have the KYC documents in one piece at that time, which could also be a time of pressing withdrawal for some urgent needs. This can hurt truly, but regardless, it is still the fault of the customer in my opinion, one should not be too relaxed with what they will still do sooner or later. The casinos are still within their right to ask for such KYC completion, it's the customer who shouldn't have relaxed that much when they fully know they are betting with KYC casino. But it is off and annoying for a no-KYC casino to ask for KYC when a gambler is either good or wants to withdraw a sizable amount of money. I've read that they do it these days which is not so cool. And the worst part is that some people still take their side, saying it is because regulators are on their necks. Who cares!
809  Economy / Gambling discussion / Re: Is lack of proof a problem for you or not? on: April 06, 2024, 02:14:02 PM
Have you verified that the online casino you are using now is verified? How can you tell that its verified because there is no proof of verified shown to the public.
I've not verified the true regulation status of any of the casinos and companies I use. The reason is that it is a whole lot of stress to do that. Nevertheless, you raised a very good point because many companies are not what they say they are. I've witnessed disclaimers where regulators of some countries would disclaim some companies claiming they are regulated by them. This is the world we live in and many casinos will be guilty of this if investigated.

Even at that, those casinos that are truly regulated are regulated by weak regulators, so what is the difference? As long as the casino is a big name with good track and sustainable records, why not continue to deal with them? Especially if they do not treat me badly while dealing with them. It's a risk we are all taking.

Quote
Also, in any way, does it bother you if you can't be able to figure it out that the casino is regulated or not?
As said above, it doesn't bother me. This is simple because I go for big names like Stake.com. By that, I've reduced the risk of being duped or treated badly to a limited extent.

Quote
Do you think that if all online casinos can tender some proof of being licensed all it reduce scams in online gambling?
Not at all. I've read so many bad reviews about some regulated companies and nothing was done about it. Regulation cannot save us! Some regulated entities cheat, manipulate and even scam their clients. Regulation is not an automatic solution to scam or cheat in gambling and businesses, it is just a way to gain trust in most businesses for more patronage. I wonder what a weak regulator will do in getting justice for the customer in case of issues. We should endeavour to find the casinos that the brains behind them are genuine, have integrity, are professional and reputable on their own, and not because they are regulated.
810  Economy / Gambling discussion / Re: Do you have a habit of tracking your gambling progress? on: April 06, 2024, 01:59:08 PM
Not everyone have the mindset of tracking their past gambling activities it’s just for people that is very serious in gambling that usually gamble every week at least a few times because they would want to know how they have won  on the past and their losses they would want to recover and get back every lose so they would like to keep their tracking active and check out the basics move they need to take before proceeding on more gambling activity.
This context, if not careful of, can even cause addiction to gamblers. If one can be gambling to be point of taking the inventories of the gambling always and flashing back to the past, then such a person has taken gambling to be a too serious business and may trigger emotion. But I see no how this is helping out at all because gambling can only be won either by luck or by expertise, or both, and not by looking at the past results.

Good, it could be nice if one is evaluating his gambling activities so that he makes a decision on whether to continue to gamble or quit. But this is not often the case but to be opening some fresh wounds of how much money the person has lost in the past. This is why I don't do it, but notwithstanding, indifferent about this since it will not add value to my gambling. Instead of looking back at the past, I focus on the present and the future, and the best way is to sharpen my gambling expertise well and pray for better luck.

In addition, I work more on my gambling psychology and management which I know will always help me not to go astray but to maintain a responsible gambling character.
811  Economy / Gambling discussion / Re: Have you consider yourself, the family and gambling? on: April 06, 2024, 01:41:58 PM
1. At what age will you allow your child to start gambling? that is if you will even allow for that at all?
2. At what age do you see yourself quit gambling? that is also if some of us are going to ever do so?
3. Ever since you have started gambling, have you ever achieve a satisfying level that makes you think it has good impact on you?
4. Would you have missed out on anything if you were not a gambler?
1. I feel off kind of about this question since gambling is not a must. I even doubt if my children will be interested in gambling at all due to how I've raised them so far. I also do not let them know that aspect of me, I only watch sports in their presence. However, if they must gamble, none of them will be less than 25 years of age before they can do that to my knowledge.

2. I will not gamble forever, I've always known that, and since I am not gambling solely/desperately for the money, it will be easy for me to quit then. I don't see myself gambling after 65 years of age.

3. Well, this "satisfying level" of yours should be relative to something. If it is for the money, well, gambling has never been what I hope for a money-earning source, and if it is for the fun, yes, it has done its bit satisfactory sometimes.

4. Never! Gambling is an extra activity we do, it is not an essential aspect of life that missing it will have so much missed value.
812  Economy / Gambling discussion / Re: Patience can help alot on: April 06, 2024, 11:06:16 AM
Gambling with a minimized amount of money helps the gambler to focus on playing responsibly. Because when money is not affected a lot, the player won't have to bother to chase loss. The emotional stress only starts the moment this player begins to get agitated over losing out his money. Greed is also a factor that affects the patience of gamblers, to go ahead their budget, instead of waiting for the right moment to win money. Due to greed most gamblers wouldn't mind sticking to wagering smaller amount of money. Especially when they're winning, their thoughts will go towards what the won amounts would have been if they wagered a bigger amount of money. Hence, players should sprinkle some patience to wagering strategy.

More on timing and know how things should work which the most common mistake when a gambler being penetrated of aggresiveness, either adrenaline rush or too much excitement, leading them to lose a lot instead of keeping that composure and have that patience to wait.

Skills or knowledge is another thing which is only useful to help you to get closer to the chances of winning, but no matter how good you are at analysis, the final result of the gambling session is still unknown, which means that even if you feel that you have good skills, on the other hand, you also need to have good risk acceptance skills which we usually call responsible gamblers who are supported by several aspects such as patience, management and control, as you said that this is the perfect combination to increase the chances of winning by having good skills and also having good risk management to keep everything in balance.

Timing is an excellent gambling technique, sometimes when gambling, I feel it's the right time to wager a bigger amount, and it works out as expected, and I'll get a win. Most times I don't win, but the fun gets funnier the moment there is perfect timing. Players also need to take up the responsibility of losing their money. Since the game isn't under the control of any gambler. Hence, while gambling the player should focus on what's in there for him to benefit, like analytical, management, and self-control skills. Money was not the primary purpose while gambling was established. In my response, gambling was made available to help test gambler's risk control, money management, etc.

That's the reason why managerial personnel tend to gamble to enhance their skills especially when under the ever-increasing pressure of gambling. However, these skills could help facilitate the winning possibility of a gambler, but it's not certain. These skills when applied in the real-world business, work like a charm in improving productivity and organizational growth. Critical thinking can be harnessed through gambling, these skills are learned in online classes and people pay to learn them, if a player is focused on observing his games and understanding how gambling works, he could develop an outstanding critical thinking skill without paying a dime. Especially when he considers his lost money as a fine for having fun.

                -   I don't think the timing will work for such a thing either, because if the timing is wrong, the amount of a gambler's loss will increase. We should also know when the
right time is to use it. It's just that sometimes, as we practice the patience that is mentioned, the amount we lose also increases.

That means that what we are facing becomes worse and worse when this happens, right? So, it's even better that we have a limit on how much we can gamble every time
we enter a gambling casino.
I read what was written and was surprised to the extent that I am still wondering about how possible is that. I don't get it on how the timing can be used to get the winnings in gambling. Gambling is such an activity that no one knows the best time they will win or the worst time they will lose, but are just trying their luck. Meanwhile, the aspect of gambling we are dealing with matters so much to the chance of our winnings, though nothing is automatic here. For this, it is never as if we are giving it time or know how to plan our time so that we would get the best winnings, it will fail us. Gambling is not what some "certain means" or "approaches" can unlock, no, it is a random means that can make a success out of it, which can also unlock that fortune randomly, nothing can be certain here and no perfect time whatsoever or patience can do that.

This is where luck and variation are so important to run in line with our chance of winning. Fine, patience is good so that one will not go extreme and get desperate about it, nevertheless, it is not the patience that will directly help you to win, but can only help in exercising self-control and discipline in gambling.
813  Alternate cryptocurrencies / Altcoin Discussion / Re: how long do we think memecoins narrative is going to last ? on: April 06, 2024, 10:38:07 AM
It’s difficult to say but it’ll last for as long as people continue to ape into them. Some people just can’t help themselves but desperately try & find the next big thing. Most people lose money chasing a dream but whilst they see a minority of investors get rich on them they will keep trying to be one of the lucky ones.
By ape, I believe you meant to say hype, right? Well, you are somewhat right about this, but instead of hype, I would rather say they give relevance to them. And this is not peculiar to memes only but all cryptocurrencies, including Bitcoin. What is causing Bitcoin to gain the value and prominence it's enjoying now is because of the relevance that people place on it, and since memes are also enjoying the same privilege and are in the cryptocurrency space with one of them (Dogecoin) maintains its stance above the top 10 relevant coins by market capitalization, the memes are also the voice to reckon with in the crypto space, and nothing will take this away unless there is no cryptocurrency anymore.

As we know, cryptocurrency itself is all virtual, with nothing so important as commodities to back it up, only that people are now trying to link one or two things to it. So I see no reason why memes should even be segregated or be made to fashion out. Except for the ones like Defi projects that are linked truly to financial services and useful projects, cryptos are such that are similar in creation and purpose.
814  Economy / Trading Discussion / Re: Martingale strategy With Stop Loss on: April 06, 2024, 09:51:44 AM
First Trade - If it hits your SL you lose $1
Second Trade - If it hits your SL you lose $1
Third Trade - If it hits your SL you lose $2
Fourth Trade - If it hits your SL you lose $4
Fift Trade - If it hits your SL you lose $8

And so on until you get a trade right with at least 2/1 Risk Reward Ratio
I must say I so much appreciate this simple exposé, many might see it as nothing but as an experienced trader, I value it and could go a long way in helping traders trading martingale. However, the martingale strategy is a very risky trading strategy that Can Only work in a strongly trending market condition. No amount of additional strategy, tweak or management can help it so far the trend is not strong, definitive and impactful. An aggressive martingale trader may start with just $200, and if lucky enough, could earn more than $100,000 in 2 days, but the risk is always too high for me. For the record, I've used the strategy to achieve almost $50,000 from a starting capital of $250 in the past, but it was on a demo account.

Nevertheless, I got discouraged because I couldn't replicate it ever since then, though I tried it minimal times. For me, I believe that a separate account is good for martingal strategy and a tight stop loss is not advisable. Your strategy seems to be considering a tight stop loss which will only put the account in trouble pretty fast. The market might be strong and trending upwards, but at times, it might just retrace sharply with about 100 pips, what would the trader do in that sense? The stop loss will be cheaply hit, of course. That is why the best approach is to either use a separate account for it which you know can be lost entirely, but trade it without the use of stop loss. If at all you would use stop loss, you might want to reduce the risk and increase the amount of stop loss use so that the market will not hit it easily.
815  Other / Off-topic / Re: Just another gambling addict story. on: April 06, 2024, 08:20:25 AM
-snip-
Do you guys have other solutions to this kind of problem? Because that's all I can think of. He will probably lay low for a month or two but he will be back to gambling again.
Thankfully, you are a member of this forum who visits the gambling section often, and this could have helped you to easily know the issues. The good part is that you've already known the issue, unlike others, so the problem now is half-solved if they cooperate with your advice. You may go with the advice to rehab him, and of course, no other solution unless he is wise enough to fight by himself within, but without the Willpower, this will fail. I hope everything works well with you guys.

However, I like to suggest the advice of finding a better job for this guy. The seasonal work may get people frustrated. We all need regular money to take care of our regular needs. If the need is regular and the money is seasonal, this is not balanced at all, which leads to desperation like this. In my understanding, this is the main source of the issue if I read you correctly, so "nipping it in the bud" will go a long way in helping this guy. At least, something beneficial financially will get him occupied.
816  Economy / Gambling discussion / Re: Land Based Casinos in the Digital Age on: April 06, 2024, 08:02:24 AM
As online gambling platforms continue to grow in popularity, I’ve been wondering about the future of traditional, land based casinos. With the convenience and accessibility of online betting, will brick-and-mortar casinos become a thing of the past, or will they evolve to offer experiences that can’t be replicated online?

Do you think they’ll manage to hold their ground, or will we see a shift towards exclusively digital platforms?
The world is revolving and so are businesses including casinos, and this is evident in the way they are offering their services these days. It now depends on the angle you look at it, and what you are calling the brick-and-mortar casinos also have their presence online. This may not be all, but most of them, if not all, and some are dealing with both the brick-and-mortar and online (where people do not have to come to the casino in person if they want), even as those casinos operating the brick-and-mortar have already gone digital with their services (even if you would have to be there).

Above all, it depends on the business model of the casinos, and I can assure you that what some brick-and-mortar casinos are earning a year, some of those online casinos may not earn it in 10 years. This depends on the location, the standards and the extras like restaurants, lounges, accommodation etc they offer. Some brick-and-mortar casinos are home away from home with all the advancements and facilities you can think of, and they are making billions of dollars yearly.

So, it's not necessary that brick-and-mortar casinos go extinct for online casinos even as they (brick-and-mortar) make more money than them. They are only restructuring and upgrading their service delivery.

You may read this: https://finance.yahoo.com/news/12-most-profitable-casinos-world-130843299.html
817  Economy / Gambling / Re: Casino vs. Stoc,Forex&Crypto Broker: Who's Really Playing You in the Money Game on: April 06, 2024, 07:42:14 AM
I compared income from my main job and from the gambling. The result told me that the job brings me more money for the same time. But the same time my profit from the gambling was higher than medium salary in my country, so it can be the main income.
Today i bet when i have free time, sometimes for emotions, mostly for some profit and have enough time for family and all my hobbies.
And you think it would be easy to solely depend on casinos for a living? It is always good and deceptive in our thoughts, especially when the person has a primary job, but the moment the person stops that job for gambling, the issue starts and it's going to be a serious problem with time. The psychology at which you are gambling when you are still falling back at your primary job as the main source of income is not the same as you would be gambling when it is no more, that's why it is not the smartest decision to be gambling for a living without having anything to fall back at. This is especially true when you are a family man and someone who has extended dependents. It will be a whole lot of headaches at that time when there are pressing financial needs where gambling will be your last resort. Depending on gambling in such a situation will only cause desperation and frustration and you will likely lose your money.

Besides, Bravo! You are doing well in gambling. For someone to be earning so hugely in gambling to the extent that the mean earning of the country is still lower than it, that is convenient. But I will never advise anyone towards it. I also read your post a while ago that you reduced your gambling pace just because of your job. That is a very good idea, the job that pays you more and gives you the rest of mind as the reward of your work is best to be taken seriously. Just continue to bet in your free time the way you do it, it is the best and shows you are wise. Don't be tempted because if you can gamble with higher amounts and your gambling results are as good as you claimed, then you may still earn more than your present status. But don't just think it.
I never said that it is easy. It is really difficult to get nice profit from gambling. And it is like a job. You mustn`t have emotions, you must wake up several times per night, you must be ready to bet every moment of your life. Several times i went to buy bread with a notebook. And only in such a way you can become successful.
I`m good specialist, so my salary is high enough, that`s why i made such choice. But if someone don`t get big money from the job, he can try to get it from gambling. The main problem is that the main part of gamblers think that it is easy money - look at the match and win. No! It doesn`t works so. It is the way to lose all your money and think that you isn`t lucky enough.
I quite understand you, but what I still do not get is how gambling is like a job as I boldened above in your reply. "Emotion" aside, I would like you to elaborate on that because I view them differently, as gambling is a mere activity of betting that should be for the extra daily activity either for the fun or for the money. And even if gambling should be engaged for the money, it should still be for the passive income and not for the main income, this is to avoid financial issues. Relying on gambling alone is even more dangerous, which is a strong call for emotion and will in turn ruin the gambler.

But for you to call it something synonymous with a job and make us believe that if your main job is not paying so high, you would have opted for gambling is what I still do not understand, and perhaps, will not agree to that as well. Gambling is not easy my friend, it is not what I will ever agree to for anyone to do and believe it will feed himself, the family members and the dependents easily. This will only cut the expectation of the person short and cause desperation, and this will lead to frustration over time and also grow to depression if care is not taken. It is easier to say than practice, and I hope you will not try this ever.

By the way, which aspect of gambling are you playing that gives you the high winning rates that encourage you this much?
818  Economy / Trading Discussion / Re: How to handle emotions when you lose during trading. on: April 06, 2024, 07:08:25 AM
What you wrote as ways to handle emotion "during trading" does not portray the traders trading but general parts of the dos and don'ts of traders even before trading. If it were to be during trading indeed, the only antidote is for the trader to take a break immediately. Such a trader can now continue to ponder what happened and how to deal with them in subsequent trading. But as a whole, I can deduce that you are referring to what traders can do to avoid emotions (before trading), and the only solutions I know are discipline and determination, nothing else. Discipline is always an anti-emotion anywhere, that's what I always preach that traders should possess.

While the determination to be disciplined should follow so that the will and the inner self will work together to fulfil the trader's desire on this subject. This simple psychology has ever been helpful and I only trade the time I want to and do exactly what I planned to do due to that.

On one hand, it may seem that it is impossible to take control over emotions while trading, but at the same time, everything is possible in trading in case of constant learning, seamless practice and pure desire to attain goals in the financial industry.
This is a very good statement, and like I always say, it is what you think you can't achieve that you will not achieve, but if you believe you can do it, you will do it. Emotion is psychological, which requires psychological solutions, but we need the determination to actualize it. That determination is what most traders lack. Once you possess that in addition to discipline, then your case is settled regarding emotion. But also, one must observe some good trading rules like investing the amount that one can afford to lose, trade the right time and for the right purposes, trade with the appropriate risks and management among others.
819  Bitcoin / Bitcoin Discussion / Re: Countdown to the 4th Bitcoin halving.. what should we expect? on: April 05, 2024, 04:53:59 PM
I don't expect anything special on halving day. What I do expect is that halving will slowly take effect and in a few months we will have a rise to $100K and beyond.
This is on point, my friend. The halving, contrary to how many people believe it, will not impact the Bitcoin market positively immediately. It may take a while and it might start with a negative market outlook before the expected buying. And if I should predict, I would say that in the first weeks after halving, Bitcoin might take a nosedive and this will discourage people so much, and hence, the reason for the initial fall. But it will get to a level where it will meet strong support where the effect of the halving will start and this would couple with the completion of some kind of correction at that time due to the initial fall.

For this, Bitcoin would have taken the needed market breath to have more power and room for a higher price and this would return FOMO into the market to the point that the $100,000 would be hit within a short period of time afterwards. I nonetheless expect this to happen towards the 8-11 months of 2024, and if the tempo is sustained till the first quarter of 2025, Bitcoin may reach $120,000 easily in that period.

In other words, there could be some turbulent moments before the sweet ride upward, which is against the immediately smooth ride that people widely expect.
820  Economy / Gambling discussion / Re: Does it looks responsible as woman telling husband you gamble? on: April 05, 2024, 04:35:33 PM
Quote
And if you just keep it a secret, it's fine. This is my preferred choice if I am to put my feet in your shoes. This is like you are just browsing websites, you happen to land on casinos because they are related to cryptocurrency.
Personally, I don't encourage keeping such secrets in marriage, everybody should be open about their activities, so your partner doesn't feel left out. He might find out one day and be really mad at you for not informing him of such beforehand. if you were just dating, it wouldn't be a big deal to me, but marriage is a different case scenario.
We don't encourage them keeping such secrets in marriage but that's happens to many couple because they thinks that will be better if they keep that for themselves without telling their spouse.  That will depends on each decision because we can't force them to follows what we suggest. They are free to choose whatever they wants with their gambling activity and if they thinks that keeping their gambling activity secretly, they can still do that. But that woman should realizes about what will happens to their marriage if she keeps hiding their gambling activity to her husband. We can only suggest people about what they should do but we can't force them to follows our suggestion and that will be their responsibility to face what will happens later.
What is even so secretive about gambling that we can't share with our spouse? Gambling is not criminal, and neither is it a stimulant that can injure one's life, it is just part of the way of life, an activity of betting, it should not be secretive at all, especially if we are wise about it. But if you know that your spouse would frown at it, it is better you quietly it immediately and quietly. That's if you can tell him or her directly. Still, I advise that people tell their spouse so that they know the direct response. Who knows, the whole situation might be surprising to some people as their spouse could accept it, especially if the gambler is living a quality life and is responsible towards gambling to the extent that people may not even know that such a person is gambling.

This is the kind of gambling lifestyle we want, everyone can be proud of this, unlike the way most people go about gambling which makes people view it as irresponsible. Lastly, good family members, especially couples should be able to know everything about themselves, so letting the spouse know about this is the best way out. Unfortunately, keeping it till the spouse detects by his or herself may lead to more issues/damage than telling him/her yourself.
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