What makes a successful trader, not a gambler?

[george888055]

Successful traders act more like business people than gamblers. They manage risk, manage inventory, follow trends, just like anyone else in any business for profit.

[proTECH77]

What makes a successful trader not a gambler is when a trader has a working strategy that must have been gotten through proper analysis of the market and adhering to a certain principle, that tells him/her when to enter and exit the market.

[Camorra Dev]

You've just said it right how it is. These qualities that you've listed explains both sides of them completely.

[otunayode]

Nothing compares to knowing your onion. To do what you are doing with uttermost skill and dedication is the hallmark of all the successful people. If you research your trade and take the right position base on right tools then you will succeed.

[Saidmod]

Nothing compares to knowing your onion. To do what you are doing with uttermost skill and dedication is the hallmark of all the successful people. If you research your trade and take the right position base on right tools then you will succeed.

We can compare how successful traders and gamblers are both different. In this a successful gambler has more focus it means for a long time he did it and become successful and almost having a winning all the time. It is different and the dedication was more difficult in trading it was a develop own wise skills. In the end there's no big deal if both were successful.

[justdimin]

Successful traders act more like business people than gamblers. They manage risk, manage inventory, follow trends, just like anyone else in any business for profit.

Yes, trading must be nothing short of a business whereas gambling must be a childish act of an adult. There are a lot of things needs to be followed and practiced every day so that anyone can be a successful trader whereas gambling could be done at any time without caring anything from the moment we decide to gamble.

In my opinion, preparation must be the process which makes the difference between traders and gamblers. Without proper preparation we cannot be successful in trading whereas if we are lucky enough then we can be successful with gambling.

[darewaller]

The reason why the trader are successful because before all of them make a decision it is very well plan and accurate to the possible
what might happen after they make a decision, unlike gambler them decision are not accurate and well plan.

Yeah, and you cannot even plan without knowing what exactly to plan in any trade. This is one thing most noob traders do not usually know. They only know how to enter a trade since the market looks low to them, they have no idea of support, no idea of resistance, no way to use the indicators to make decisions and all they do is gamble their position and as long as those stuffs are not being used to make successful trades, nobody in that category can ever be successful.

[okala]

Trading successful is quite different from gambling and  a successful traders is quite different from a gambling traders.  A successful trader train his mind and get skills through experience and he always place his trade with money management principle that he has put in place.

[Itjoker]

First of all, a trader is a very disciplined person. He must always follow the rules of his trading system. Even if he wants to continue to trade, seeing how the asset price grows, and the rules of the trading system do not allow, he must comply with these rules (risk management, money management, stop loss, etc.)

[Wonder_woman]

I think what makes a trader successful is patience and not emotional, because many traders really have the capital and knowledge but most of them end up selling their crypto at lower price than the price they bought it because of impatience when they are waiting for moon for too long and some of them easily get panicked when the market falls and sell right away. Those are things that makes them have loss at the end. So I think patience and being not so emotional is the key.

[el kaka22]

What makes a successful trader not a gambler is when a trader has a working strategy that must have been gotten through proper analysis of the market and adhering to a certain principle, that tells him/her when to enter and exit the market.

As long as there is no strategy before entering a position, it totally makes such a person a pure and straight up gambler. Most of the traders in the cryptocurrency world unfortunately are in these categories since they have refused to learn, form a strategy with their knowledge and stick with it. The only thing they know how to do is to buy low and sell high and when things go south, they think patience is all they need to pull it through. That usually makes me laugh!

[SupplyBloc]

Stop losses and risk management.

[xvids]

A gambler is just risking their money on the coin ,
While the trader is studying what coin should they invest in.
A gambler doesn’t know when to stop and when to start or jump in,
A trader knows when to sell and when to buy the coin because they study the market.

[Semaj123]

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.

Great summary and this will definitely a big help for the crypto community as a guide and what makes them different. As long as we make a plan with every action that we take then we're all good.

[victoria444]

Nice tips.. But non was born an expert, we all should know that, and I think without mentors we were all gamblers at some point in this business, either way newbies can trade in alts with bright future no matter what price it is currently trading,  at Also note companies that will burn there coins for example this below
https://themerkle.com/education-ecosystem-to-burn-30-million-education-tokens-ledu-on-july-31st-2018/
You can join their tg: @educoins

[ausbit]

Successful traders act more like business people than gamblers. They manage risk, manage inventory, follow trends, just like anyone else in any business for profit.

The biggest of all is, they manage their skills and implement them in field to get maximum profit. Like in gambling where no skill and experience is required rather it is just a luck that would be enough to let you lose everything you have. Trading is a respectable way of earning where hard efforts would be played off always and they allow you to obtain maximum profits for your money.

[beerlover]

A successful trader keep records, have a definite strategy in mind before trading. He know that he cant move the market and trade what he sees and not what he want the market to behave. A successful trader knows a great deal of money management rules, and wont ever go ALL IN with his capital on a single asset as gamblers do.

That definite strategy is one that we cannot look past for a successful trader. One thing though is that you cannot always have one single strategy but whichever way, once you can have a specific strategy that works well for you over time, you get this confidence to always make use of it to your advantage most of the time and that is how I expect every trader to end up successful. No strategy, no trading and no strategy, pure gambling.

[gegewojinnian18]

I agree that trading is also a skill. Just like learning to drive, you must invest time and energy in learning it. If you do not do this, you will always rely on good luck to make a profit. This risk is always at 50%. If you don't study hard, you can't get great rewards in the market.

[Camorra Dev]

Trading is a skill, while gambling is just greedy, lucky move without any kind of being confident in your decisions at all. Succesful trader needs to know the market very well

[mico]

yes. I completely agree with your ideas. And I also wanna add one point of view that the trader will research carefully and understand clearly what they will buy meanwhile the gamblers just buy based on trend