What makes a successful trader, not a gambler?

[Owen7021990]

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.

[napi]

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.

[pooya87]

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...

[BlockEye]

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.

[crzy]

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.

[Fredomago]

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.

[Indrawan77]

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

[adaseb]

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.

[Grimjhow]

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

[Owen7021990]

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...

Yes. I understand that the most important thing is to have experience.

[Zadicar]

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.

Yes, i have encountered lots of traders who do make it as a living and ive met them on forex market i dont know if this traders do exist on crypto market but i presumed there would be people who engage into this matter.You are right experience is one of the most important thing to sustain this market,it cant really be easily attained by someone but if they dont sustained to do thing for long term.Just learned up things along the way and this is how a true characteristics of a trader.

[Nahl]

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

[bitcoinveda]

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.

[Lynks]

Always take profit at every little profit dont wait for too much profit dont let greed overshadow your judgement

[tbterryboy]

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...

Yes. I understand that the most important thing is to have experience.

For a trader, yeah it is. No matter how many articles someone reads about trading especially bitcoin or altcoin trading, until or unless he won’t do it practically and make some mistakes, it is not possible for him to truly grab the nature of this profession. Experience comes with doing practical and learning from blunders. It is what differentiate an expert from a newcomer in the world of trading.

[BCTBF]

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.

[feelideb]

The act of trading can not be compare or categorize as gambling no matter the outcome. Traders go in to trading having research the coin they want to trade in and the development and utility of such coin present value they speculate on. No game of chance with trader but profit.

[Koro-Sensei]

I think we are just part timers when it comes to trading even we invest on the range of $5000 so we don't know the certain facts about unraveling the truth about such great traders. I think aside from being a trader they must have a reliable insights of a potential investment and make it work into their hands. Me i just want to predict what are the possible reasons and strategies that are hanging just beneath of our minds however if we think this through deeply we can still grow much higher.

[RenBct]

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

[krauzzer02]

Sad to say not all of 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.