Outside risk: similarities between gambling and trading?

[xWolfx]

I Think risk and reward are the two similarities between gambling and forex, stocks and cryptocurrencies trading. For those that have been doing trading and gambling what did you notice as a similar among the two and through experience how much have you made from the both?

High risk for those who jumped in without any proper knowledge, both sides needs to have good understanding, especially when you are dealing with trading, you will be able to justify your position and able to anticipate next possible movements when you have good knowledge about the assets that you are holding, you can quit much earlier before things went to wrong directions when you have good understanding of the current flow.

With gambling, knowledge and skills  will give you some good advantage, basing with previous experience you can also make a proper call and leave the house before you suffer big losses.

I would add to this good answer that the trading aspect works for every assets you are currenly holding or planning to hold. However with gambling it is extremely relative also depending on the game itself.

You can't say that a wheel spin and a poker game require the same level of skill to be successful, without counting that your level of control over each game also varies.

[imstillthebest]

I Think risk and reward are the two similarities between gambling and forex, stocks and cryptocurrencies trading. For those that have been doing trading and gambling what did you notice as a similar among the two and through experience how much have you made from the both?

High risk for those who jumped in without any proper knowledge, both sides needs to have good understanding, especially when you are dealing with trading, you will be able to justify your position and able to anticipate next possible movements when you have good knowledge about the assets that you are holding, you can quit much earlier before things went to wrong directions when you have good understanding of the current flow.

With gambling, knowledge and skills  will give you some good advantage, basing with previous experience you can also make a proper call and leave the house before you suffer big losses.

I would add to this good answer that the trading aspect works for every assets you are currenly holding or planning to hold. However with gambling it is extremely relative also depending on the game itself.

You can't say that a wheel spin and a poker game require the same level of skill to be successful, without counting that your level of control over each game also varies.

The success on trading will only depend on the coins you buy and trade . let say you chose a btc or other top alts . you can always assure that you can get a good return for your capital but  if you chose unkown tokens and alts then the risk is verry big  . you wont know if the coin you hodl can still recover or not  .  

While in gambling it also depend on the game you play  .  some require pures luck while some needs some a bit of your skills .

[Dreamchaser21]

I Think risk and reward are the two similarities between gambling and forex, stocks and cryptocurrencies trading. For those that have been doing trading and gambling what did you notice as a similar among the two and through experience how much have you made from the both?

The only difference is that, in gambling you don’t need to study much but it can give you big profit, and in trading you have to make a lot of effort and still profit is not guaranteed. Both have their own risk, but luckily I made some profit in gambling and in trading its a lot more easy to have the profit. Both are good if you know how to play it well.

[goaldigger]

I bet trading has lower risk than gambling specially if the goal you have is for long term. Trading has a basis and you can predict the most profitable coin and time by studying it whilst gambling is just win or lose and its now or never. The skills poured are also different. Trading requires a lot of skills to earn while gambling doesnt have any. They are just similar because you are both using crypto and you risk your money to earn more.

[Juggy777]

I Think risk and reward are the two similarities between gambling and forex, stocks and cryptocurrencies trading. For those that have been doing trading and gambling what did you notice as a similar among the two and through experience how much have you made from the both?

The only things common between trading and gambling is that both are risky and equally rewarding but there’re differences between their risk and the rewards. When you’re gambling you’re playing with your luck and are depending on an uncertain event to go in your favour and in trading you can study and avoid it. Also it’s pertinent to note that in both scenarios your greed can destroy you, if you don’t keep it in check.

[crzy]

I Think risk and reward are the two similarities between gambling and forex, stocks and cryptocurrencies trading. For those that have been doing trading and gambling what did you notice as a similar among the two and through experience how much have you made from the both?

Don’t invest, trade or gamble if your appetite can’t afford to take the risk. Both are rewarding but in a different way since gambling is more on luck and trading is about the hard work. Do your homework, study which market can be good for you, so far i find my luck on trading.

[BitcoinGirl.Club]

I don't think it ok to compare gambling and trading. Trade is skill, understanding the market on the other hand gambling combines with luck and research. The main problem with gambling is that holding the nerve, not becoming greedy. Most of the time in-fact every time people lose money in gambling because they lose focus and gets greedy. They think it's easy money. Gambling can not be a healthy profession however trading is a well established profession.

[michellee]

I think in both gambling and trading, we can use to make a profit but I still prefer trading because we have a big chance to make the profit. But we cannot deny that there is a gambler who can win with ease and he can get a profit too in trading. I think my bigger income came from trading than gambling because I don't use a big money in gambling and in trading, I have many opportunities to get the profit from many coins.

[tokeweed]

Another thing how gambling and trading mirrors each other is losing money.  Lololol.  It's so easy to lose a huge chunk of your money without any form of bankroll management.

So yeah...  I guess the best advice given to noobs is to find some sound bankroll management strategy that works for them. 

[romero121]

Another thing how gambling and trading mirrors each other is losing money.  Lololol.  It's so easy to lose a huge chunk of your money without any form of bankroll management.

So yeah...  I guess the best advice given to noobs is to find some sound bankroll management strategy that works for them. 

Well that's a good plan. Apart from this, noobs need to understand about the good and bad before getting into the gambling. Because, out of luck or through some sort of technical analyzing winning happens. One cannot expect this to happen for a longer time period, so need to manage the bankroll accordingly, also need to set up the limits for spending on events to have a steady participation into gambling.

[akram143]

Another thing how gambling and trading mirrors each other is losing money.  Lololol.  It's so easy to lose a huge chunk of your money without any form of bankroll management.

So yeah...  I guess the best advice given to noobs is to find some sound bankroll management strategy that works for them. 

Both gambling and trading had some similar qualities it will be not like anything when you entered into this field you can definitely no this and risks also not has bigger than any other business you know gambling has either profit or loss it will be more than we expect but in trading we expect some profit and expect some losses also so it will be common thing.

[hahay]

I don't have much experience in trading, but as far as I feel, gambling and trading are very different. If in gambling we cannot take our money back at the table and it will only disappear, but in trading we can still take our money when we feel panic and better sell it while still allowing us to cut losses that might happen bearish. Again, gambling is a pure luck factor, but in trading it is a good strategy and analysis that will make you profit. Imho

[tokeweed]

Another thing how gambling and trading mirrors each other is losing money.  Lololol.  It's so easy to lose a huge chunk of your money without any form of bankroll management.

So yeah...  I guess the best advice given to noobs is to find some sound bankroll management strategy that works for them.  

Both gambling and trading had some similar qualities it will be not like anything when you entered into this field you can definitely no this and risks also not has bigger than any other business you know gambling has either profit or loss it will be more than we expect but in trading we expect some profit and expect some losses also so it will be common thing.

English obv isn't your first language, but yeah...  I think I get what you mean.  Same type of mindset is needed in either gambling or trading, same type of psychology needed for dealing with losses/risk and same type of control for managing greed when winning/running good.  Yup yup.  

[avikz]

I don't have much experience in trading, but as far as I feel, gambling and trading are very different. If in gambling we cannot take our money back at the table and it will only disappear, but in trading we can still take our money when we feel panic and better sell it while still allowing us to cut losses that might happen bearish. Again, gambling is a pure luck factor, but in trading it is a good strategy and analysis that will make you profit. Imho

Correct! Gambling and Trading are two very different things even though there are some similarities between these two. Once you have rolled the dice or placed the money on the table, you can't have it back unless you win the game. On the other hand, you can either put stop loss or square off the trade at any time if you think you are not going to make profit from that trade. Also gambling is a game of pure luck (except sports betting) while trading is a calculated risk that we take. There are calculations behind every trade that we execute but when we gamble, we leave it to our luck! These two things can't be or shouldn't be clubbed together! 

[emberbekas]

I Think risk and reward are the two similarities between gambling and forex, stocks and cryptocurrencies trading. For those that have been doing trading and gambling what did you notice as a similar among the two and through experience how much have you made from the both?

Because I only use cryptocurrency for gambling and trading purposes, I have the following conclusions. In some cases, gambling and trading may have something in common. It is when we take actions based solely on our feeling that we get when we overseeing the price movements. Mostly the decisions will be taken shortly.

One thing that I think makes them different is the duration of the end result of an action we take on both. Gambling is an action whose results will be immediately known and we cannot do anything else when the results are out. Whereas in trading, we have the freedom to determine our respective choices, when we will end our session. For example, today we buy bitcoin at a price of $ 3580 and a few days later, the price drops drastically. At that time the final result will be determined by ourselves. Whether we will cut loss it or keep holding it until the asset value increases again.

[BitBustah]

Trading is more skill based than gambling.  Outside of sports betting and poker, gambling is mostly based on luck and very little skill is involved.  They are both zero-sum games though, for someone to gain money another party must lose.

Gambling is much more friendly to newcomers than trading is.  A newbie jumping right into the crypto markets will get intimidated and most likely get slaughtered.

[Thanasis]

I don't have much experience in trading, but as far as I feel, gambling and trading are very different. If in gambling we cannot take our money back at the table and it will only disappear, but in trading we can still take our money when we feel panic and better sell it while still allowing us to cut losses that might happen bearish. Again, gambling is a pure luck factor, but in trading it is a good strategy and analysis that will make you profit. Imho

Both were completely different but we are doing both with our hope to make money. Trading will not be profitable for everyone,but when we are skillful and have enough patience then we can make money but gambling winnings is not in our hands.

[stomachgrowls]

I Think risk and reward are the two similarities between gambling and forex, stocks and cryptocurrencies trading. For those that have been doing trading and gambling what did you notice as a similar among the two and through experience how much have you made from the both?

We cant really compare between two things- An investment to Entertainment thing.

The same thing on both is that they always have the risk of losing money. The difference is the level of risk because one can be lessen through skills and one cant be changed when it
comes to dependable on luck.

Trading on forex and crypto would really be like gamble in the sense where you dont know on what you are doing.Mistakes and losing out money is inevitable but trading has the
edge when we do talk for long term profits once you do have the idea on what you are doing.

[Indrawan77]

Gambling and trading are different in risk and reward, in gambling usually the risk of losing is higher due to the house edge, in trading we can increase our winning chance using data, chart and indicators, the reward of gambling can be higher than trading, in trading making 10% profit is already consider as high, but in gambling winning 10% is still a small percentage

[crwth]

I've wanted to post a similar topic, both comparing gambling, and trading. It's evident that both have risks and those risks are the ones that were going to let you get a profit or get a loss. That's the gist of it. If we're talking about trading, we will see that we need to predict the correct time of the price, whether going up or down (if we're talking about margin trading) or bet that we are going to be in a bull run (spot trading). For gambling, you would either go high or low, if you're playing on dice. That's the similarity for me. The risk that you are willing to take plus the amount you can get with the amount you are risking.

I think if you are going to choose between the two, it's better to select both because they are both in different areas. More chances of profiting with the right conditioning.