Trading, gambling and binary options. Which one you prefer?

[KarlKanKarl]

Some years ago, I learned how trade. So, I trade and gamble. Later, I like binary options. This are my experience.

I first started day trading, I was good at it. And I have set of rules to follow.
I don't trade on Fridays and weekends
I don't not overtrade. It leads to more loss trades.
I use stop limit but not all the time
I disciplined myself because I know if I don't, losses would discipline me.
I learned about analyses. Most especially the technical analyses.
I study about coins and also analyses them.
I am patient enough and not greedy.
Trading at the bottom of upper line does not mean the trade will be successful.

So, I know the basic trading rules. I trade and I can. But, the gain was very low compared to what day trading imply. It implies day profit but professional traders also think about the losses involved.

I later decide to gamble, I don't play dice because I like to analyze, so, I chose sports betting. Particularly, football betting. I also follow the rules.

I checked for strong teams
The score the team usually score
Check their previous matches with the team they are meeting
Check for their last five matches.
Check for players they want to use and do on.

But, as good as I am to the extent I predicted scores and my friends were surprised, I still lost all my money to gambling. It became a problem in my life. And I changed to binary potion.

I use my trading experience for binary option but I lose the more. I later was so confused. But I started what I know best again, trading.

But, I later switched finally to long term trade in which i buy at low price, hold, and later sell at high price. This is where I gained more than 500% of my capital this year alone. I still trade on short term bases, but the cryptocurrencies  i used is 5% of what I used to trade on long term bases. I profit from both but the profit from long term can be higher but take long time.

To me, I say no to gambling, trading is far more better. I start trading, left it and my life became miserable not knowing it was and still the best. But, not getting it right is what people are suffering from.

Gist us also about your trading and gambling experience.

[Mia44]

I will never join binary options, because I have a very bad impression of it. Because it is extremely risky, and it is important that I have many exchanges created for fraudulent purposes, without any license certificates. These floors also constantly false advertising to entice new people.

[semobo]

Gambling is not meant for making profits so just skip the gambling at first.Binary trading,more binary trading platforms have complaints that they are selectively scam people when they are trading with high amount so its better to trade on your manually.You realized that long term is best among all kind of trading methods because it doesn't need much efforts all you have to do is wait and get reap when it is available for you.

[stomachgrowls]

Trading- Long term and can be possibly make a source of living
Gambling- Pure entertainment and dont go on other means
Binary- Somewhat like gambling but at least you do have basis on where you do get your analysis from which is on the market.Fairness of results would vary
or depend on broker itself.

So when it comes to choosing then i would choose #1 and #2.

[bitbunnny]

I prefere trading, it's the most profitable and it makes the most sense.
Gambling is not meant to make profit but for fun and that is how I treat it, a leisure for my free time.
Binary options are two risky and personaly I don't like it, in fact I find it as a shady business.
For someone who is seriously involved in Bitcoin, trading is the best.

[Quidat]

I have experience on betting or trading up with binary options and i can say that it is just similar to gambling so i dont really suggest this one to anyone.Trading is for making money on longer duration or can be forever once you do able to grasp the system.It might not be easy and does take long time but it is worth since this one will give out opportunity to make money at least which is sustainable for long term.
So i prefer trading for making money and gambling for fun.

[nelson4lov]

I have a similar experience like you but I haven't had experience with Binary options trading. I've known about it for years but I didn't just like it. I also like the fact that you're honest with your experiences. Most people usually sugarcoat it. For trading, I learnt how to trade via Babypips Trading school. While I haven't made more profits, I haven't made much losses either. My goal has always been to not lose my capital even though I might not profit now so far, I'm getting more experiences and getting more sync with the market, then I'm good. I know that with time, consistency and patience, I will get better. The major reasons why people fail at trading:

1. They thought it was a get rich quick venture – even the most successful traders didn't make so much profit until they got more experience.

2. Consistency – It's quite obvious that we can't predict where the market is going (in my opinion) but we can better our chances by react to the market quickly. Most traders are not consistent with their trading system/plan. Most times they break their rules just to settle for short term gains. It shouldn't be this way.

There are others but I'd stop there. I haven't said anything about gambling because I haven't really been successful at it despite the fact that I take time to duly analyze it.

[LUCKMCFLY]

Before I started trading, I started gambling in casinos, in freebitcoin, and it consumed me all day, in fact I think I lost much more than I won, today I prefer trading because you can make plans and strategies, some people It does not matter and they confuse trading as gambling and they may find it, but when they run out of luck it is when they will know that it is best to prepare, because today I see trading as a business. In my case I prefer Trading.

[Bitcoin_Arena]

Trading any time, any day for me.
I have never tried Binary Options since it looks far more like gambling. Honestly gambling is purely meant for entertainment. Trying to use it for profiting will only lead to bad side effects such as depression and gambling addiction.

[leowonderful]

I prefer trading primarily because of my experience trading over the past few years and the valuable lessons I've learned over time with it, though I do agree that trading can definitely become akin to gambling if you choose to treat it as such, and I also believe that binary options are much closer to gambling than most styles of trading.

Even though it's entirely possible you might be able to make a living from trading, it's unrealistic to expect to do so because most people just don't even make money from trading overall. It's a tough task.

[ice098]

I have experience on betting or trading up with binary options and i can say that it is just similar to gambling so i dont really suggest this one to anyone.Trading is for making money on longer duration or can be forever once you do able to grasp the system.It might not be easy and does take long time but it is worth since this one will give out opportunity to make money at least which is sustainable for long term.
So i prefer trading for making money and gambling for fun.

Long term isn't easy to do, since it needs enough patience and determination in order to sustain for a long process. Sometimes it feels you're going to panic, but when we have enough knowledge on what we're doing with trading, everything will be within our control. On gambling, I think having fun over it can be enjoyed but with moderation.

[nicolas1979]

To me, I say no to gambling, trading is far more better. I start trading, left it and my life became miserable not knowing it was and still the best. But, not getting it right is what people are suffering from.

Now you understand why gambling worth to leave and never come back, you chose the right option to create better life, trading. Convince people to leave gambling or stay in trading is really hard, need time and understanding about what they need in safe ways?. Many people still in gambling world and ignore trading because trading is more risky, that's the wrong mindset and need to fix immediately. Congratulations with your new journey, stay positive and follow your plan with patient and disciplines.

[rodskee]

you have made decision but i tend not to believe in stopping gambling because for me this is one way of enjoying the game and also a chance to win (if luck is with me sometimes)i do gamble on a weekly basis depends on my available time and Budget sometimes twice a week but very rare of 3x.
though we will both agreed in Long term holding,but i wonder How long is Long term for you?because you've said 500% in just a year profit meaning 3-4 months the longer?sorry it made me curious the way it delivers because for me?well this is only my opinion but long term means year or so.

[Rodeo02]

you have made decision but i tend not to believe in stopping gambling because for me this is one way of enjoying the game and also a chance to win (if luck is with me sometimes)i do gamble on a weekly basis depends on my available time and Budget sometimes twice a week but very rare of 3x.
though we will both agreed in Long term holding,but i wonder How long is Long term for you?because you've said 500% in just a year profit meaning 3-4 months the longer?sorry it made me curious the way it delivers because for me?well this is only my opinion but long term means year or so.

dont stop if you just want to play just to enjoy some of your time.
Stop only if you think you do it as addiction already and you already lost too much money  gambling .

Holding can be profitable = but its always depends what coins you want to hold for long when it says long term it takes year 1-5 years can be considered  as my understanding not just a month.

[boyptc]

I don't think binary options is for me. I keep on seeing their ads on YouTube and it never enticed me to get into it despite of having a lot of encouraging and attractive ads.

Trading as usual and gambling at the same time.

Someday might be I'll get into BOs.

[CryptopreneurBrainboss]

Gambling is not meant for making profits so just skip the gambling at first.Binary trading,more binary trading platforms have complaints that they are selectively scam people when they are trading with high amount so its better to trade on your manually.

I disagree with your statement as gambling is more of a productive way to make more and one of the easiest, surfer you have equipped yourself with the necessary skills and probably have luck on your side. Gambling and binary options have more similarities than trading since the act of trading has less luck factor and more if your research and knowledge on that asset you're trading.

I'll prefer trading to the others since you can duplicate your success on different occasion but that can't be said about the other two. There isn't an assurance of been lucky each time you gamble.

[xvids]

It depends on what I like or need,
If I want some profit and less risk then I would prefer trading.
But if I want to have fun and excitement then I would go with gambling,
I haven't tried binary option yet so I couldn't say anything about it.

[SquallLeonhart]

Lol, one thing I have never done before is gambling. A lot of my friends are into it, but I just don’t like it because I see the addiction they get from it and how they end up losing their money. And the worst part of it is that they never stop even when they are losing their money, every little money that goes into their hands they plan to gamble with it, that’s what annoys me the most.

So, I have been staying clear from anything gambling. I have been into binary options before and I used to trade with iqOption and Expert option, they worked good but it’s not really as easy as you might think and you can lose money from it. Though sometimes you might get lucky. Long term cryptocurrency trading has also been the best thing for me so far and that’s where I have benefited the most.

[mauriek]

It depends on what I like or need,
If I want some profit and less risk then I would prefer trading.
But if I want to have fun and excitement then I would go with gambling,
I haven't tried binary option yet so I couldn't say anything about it.

That's right, gambling only makes you lose your assets, it's full of risk, you only need a fortune to win in gambling. In contrast to Trading where we have to really learn how to read charts by analyzing technical or fundamental.

[exstasie]

Congrats to the OP, he finally arrived. Most people blow up a couple trading accounts and leave forever, they don't actually learn their lesson and become profitable swing traders. Good job!

The lesson here (besides "don't trade binary options") is it's important to analyze and trade long term trends. Short term trading, fading, scalping can be okay if you have a good handle on the bigger picture trend and know how to trade around a core long term position. By that I mean this:

But, I later switched finally to long term trade in which i buy at low price, hold, and later sell at high price. This is where I gained more than 500% of my capital this year alone. I still trade on short term bases, but the cryptocurrencies i used is 5% of what I used to trade on long term bases.