What makes a successful trader, not a gambler?

[AlistairJ]

It is necessary to use professionally all new technologies that make trading transactions not a lucky chance, but a logical result.
Fast computers, high-speed Internet, fully electronic markets and direct access trade are the main assistants of an independent retail trader. Among the more powerful technologies are automated trading, innovative market research tools and testing of trading systems based on historical data. Applications for mobile trading allow you to analyze trading conditions, place orders and manage positions using a smartphone or tablet.

[Caladonian]

I agree with your definition between a trader and a gambler. But are you telling us not to be a gambler and just be a trader instead? Well, some of us will and some of us will not.

Even though we all know the fact that gambling is not good, there are still so many gamblers right? It's all because of money. I'm pretty sure that a gambler still continue his deeds after reading your post and just unrecognize the negative characteristics you included. My point is we cannot easily change gamble-minded people because they prefer "easy money" despite of the strong risks over slower and tiring earning of money (which is trading).

Good point, even we keep saying positive side of trading, there's still people who love to gamble with fate, instead of carefully analyze situations
they will just continue trying each time that they've feel some potentials without really a deep understanding of certain assets, being a good trader
will be needed being equipped by a lots of information and ideas, if you build your investment with good foundations then the outcome is much better,
it's about time to think and balance our thoughts about this business.

[danherbias07]

I agree mostly with the characteristics of both. There is so much difference with a trader and a gambler.
Emotions specially.
Gambling. You bet small, you lose and afterwards you will be making a larger bet just so you could get back what you have lost.
You wont do that with trading specially with their feature of "orders".
If it hits that amount then you wont be risking more. The patience though, you will need a lot of it when it comes to trading.

[Trivelius]

Keeping emotions out of the game is the crucial point, if of course you have a well thinking mind anyway, topped by enough trading notions both theoretical and practical.

Trading need good study and attention, trading also need good experience and trading skill, but if you do not have good experience in trading and only depending on your luck then trading is not less than gambling, We can differenciate between trading and gambling as in gambling we do not need for any experience and study but if we talk about trading there we need to have some good experience and must do regular study.

[apityeh71]

Thanks for sharing, need proccess and times to become pro trader. Other than that, dont be greedy and always patient is should be to become successful trader. Learn from mistake in the pass is other importhant think to make profit in consistent.

[firemagus]

1. Definitely keep your greed in check. Taking small gains can add up quickly.
2. Use stop losses in your trades.
3. Don't chase green candles
4. Last but not the least-- BTFD!  (Don't go all in tho!)

[suzanne5223]

Treat trade as a business, not as a game, that is, do not act emotionally, but do a cold-blooded prediction and calculation of the situation.
Successful traders lead a balanced lifestyle. The thrill of a successful transaction can be addictive. But a good trader knows how to stop on time, and, more importantly, he has something to switch on, whether it's family, friends or hobbies.

In addition, for a trader to be successful a trader must accept debt cause trading is always about gaining all time but the trader must know how to cut the lost to minimum, must not be greedy type and must have some certain amount of set aside for the trading opportunity that come out of nowhere.

[KEPLER99]

Some traders tend to set buy and sell orders, while gamblers are into profit they set alot of targets and take profit. they don't mind the market trend. If it goes dip then they sell it to avoid losses. I myself is a holder i sell my coins when bull run occurs.

Well in my opinion, things are quite differential between gamblers and traders. These differences are mainly based on better understanding of the concept that is being carried for both gambling and trading. Gambling is a way of losing money while trading is totally opposite. Luck is one of the major factor that separates these two types of methods regarding earning money.

[Camorra Dev]

I think people became trader are always a bit players. I've played poker, and I wanna say its a bit similar with that

[Arwinkim]

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.

Those points you have mentioned mastered by professional traders only and I don't think any newbies here hardly achieve that. If I may add, being able to control our emotion to be patient is also virtue to conquer the market. Trading can be a gamble if traders don't analyze the chart first. They only work based on their instinct.

[wuvdoll]

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.

Apparently, what makes you a gambler even when you think you are trading is when you do not have any strategy and you will easy be emotional whether you like it or not. Not being emotional or trying to stay strong still does not change anything if you do not have knowledge about trading or you do not know how to play your cards right and safely.

Once you have knowledge, there is this confidence that you have and you will see yourself not gambling your way through trading.

[RenBct]

People right now just want profit not education and let's say that's a gamblers doing just here for the gains not the education and gambling i would prefer to just go to the casino.

[carlisle1]

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.

Well for me its about the freedom to choose,and being gambler is a decision of every individuals,they dont woke up one morning and boom they are a gambler..they live with it and they spend their lives doing such,same as traders we chooe to be traders because we know we can make money in fair and legal manner,though mostly fails as time pass by

[fritzwalter195]

I think the main obstacle is that there is so much information people feel disheartened to research, not that they are not taking seriously or purely gambling... Most people, that is.

[Ems30]

To make successful trading person focus the following trading plan each day to know the basic concept plan of trading,aside from that you must be determination to succsess not focus on mistake,because the great trader will never know how to win until you
 well never know how to lose,because success is not easy to get rich instantly,they will be commitment of time and money toward them,and willingness to work hard until the hole concept of trading will be mastery,while gambler person they focus on money and leads also emotional aspect decision during trading,and not only based on fact and analysis,

[sgenuine]

A professional gambler also controls his emotions and he is also ready to fail and to wait. However, I guess that trading is a more reliable stuff, and you need more knowledge here.

[Wowcoin]

Trader used there skills to do trading they learn how to trade that they will get a good profit. Gamblers taking risk they need more luck for them to win and they need self control to get profit.

[otundebis]

One thing about your market view and keeping the record is that in cryptocurrency,  what work yesterday may not work today. Cryptocurrency market is the fastest market I have ever seen.  Everything changes.

[jrrsparkles]

Most of the people doing crypto currency trading as like gambling mainly depends on the luck but we can't be successful by only trading through luck the skills are important to be a professional trader.

[BlueStackz]

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.

Wow, man you’re very right! These are  really the qualities of a real trader which can differentiate them from a gambler. Gamblers don’t care about anything that has to do with market trend or whatever, all they care about is just to put in money and take the risk, whether to win or to lose.

But a real and professional trader will always consider a lot of things before making any move. But not everyone is an expert, there are people who don’t know anything about the business and can make mistakes most times.