Luck is what you need in gambling but you have to get to work with trading

[Slow death]

gambling and trading have always been very different things, so much so that many people who start to trade are faced with a scenario in which they cannot make many profits, in most cases people are having a lot of losses and there is no such thing as luck in trading, things like putting 100$ and turning it into 1000$ in 1 million dollars does not exist in trading, so just because it does not exist you can already see that trading is very different from games of chance, for example in the game of bad luck talking about casino games like clinker, the person can put 1$ and if he hits the biggest multiplier that person with 1$ can have more than 30$, and there are people who put in 1000$ and win more than 30,000$

in sports betting for example, a person can choose 10 games and place it in a multibet bet and with that have a 50x odd, that person places 100$ and when he wins he will have a good amount of money, so that is not seen in the trade, that it does not exist in the trade, unless the person buys some altcoin and does hodl for many years. trade is something that requires knowledge, and you don't gain anything in the long term, you only earn when you do hodl in the long term. so both trading and gambling at the end of the day both are high risk

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[ancafe]

Even though people think inflammation is synonymous with gambling, in practice the two activities are different in carrying out, trading is still trading and gambling is still gambling. Trading is more flexible and measurable in generating profits, but must be based on correct knowledge in practice, while gambling is just a much bigger gamble that does not have a specific method for carrying it out.

1. To cut your losses and increase your profit: You can conveniently do this by using stop loss or take profit adjustment or trailing stop but in gambling, is one straight end once you have gone on the bet, you either loss all you bet or win or you bet for.

Stop loss or adjustment is a step to avoid losses in trading activities and in gambling you bet with a different scheme in the absence of a special strategy, this is what makes gambling differentiated between trading activities.

3. Traders use analytical tools to determine what market price will be and wait for appropriate timing but gamblers play by the rules of casino.

Intelligence analysis and experience will increase the ability to manage trading activities and obviously it will affect the course of trades that we make and trades can adjust our own rules regarding Stop loss or trailing stop.

[Mpamaegbu]

What is your thought.

This "trading is gambling and gambling is the same thing as trading" kind of arguments often emanate from hardcore gamblers who seek justification for their losses as a way to get even with those who try to discourage their gambling habit. You're right about the difference in both – putting in the works in trading while gambling relies on luck. We know that in both (gambling and trading) losses and profits are made but we should also note that while one sells a product (trading), the other only sells an emotion/expectation (gambling).

[kamvreto]

Even though people think inflammation is synonymous with gambling, in practice the two activities are different in carrying out, trading is still trading and gambling is still gambling. Trading is more flexible and measurable in generating profits, but must be based on correct knowledge in practice, while gambling is just a much bigger gamble that does not have a specific method for carrying it out.

trading is trading and gambling is gambling, it's true. It won't be any different, but some people trade like gambling because they don't have any knowledge in trading so they just make guesses, up or down. this will be more similar if you trade futures, Long & Short and it will be done easily by anyone and will lose easily. Real trading is about analyzing coins to predict where they will buy and sell, not just guessing. Gambling is just betting that doesn't have a definite basis of knowledge because gambling only relies on luck and everyone's luck will be governed by the gambling system.

[jaberwock]

Gambling is of two types, Sports gambling and Casino gambling. Now in sports gambling some knowledge and calculations required along with luck and in casino gambling, everything depends on luck. So yes luck plays an important role in gambling. But in case of trading, you have to adapt to the market and trade according to the market requirements. So yes in trading your capabilities and understanding of the market helps you to make desired amount of profit. In this manner you can distinguish between the two.

If we are talking about the literal gambling then yeah there were only two types of it and you already said it but other activities and aspects in life do also have gambling involved. In trading for example, there is also gambling because sometimes the market is unpredictable.

Casino games requires knowledge too because how can you play the game and win, if you don't have it? And then there are a few casino games which requires more knowledge and skills. Not only trading but the two types of gambling we talk about earlier, do also require a hard work. There are also automation features which are also available in trading. It can be inside the system or by using a bot. It's up to us, if what we will prefer.

[pawanjain]

Yes, there are people who consider crypto trading as gambling and to some extent it does look like the same.
But when we actually start trading by learning the fundamentals and technicals and do our own analysis only then we know there's more to it.
The risk management plays an important to cutting losses and maximizing profits in trading.
When we start using stop losses and take profits according to our strategy then keep evaluating and revamping our strategy then we find out it's not like gambling.
We do have to work for it to get us money.

[ancafe]

trading is trading and gambling is gambling, it's true. It won't be any different, but some people trade like gambling because they don't have any knowledge in trading so they just make guesses, up or down. this will be more similar if you trade futures, Long & Short and it will be done easily by anyone and will lose easily.

Therein lies the problem that makes people equate trading with gambling, Long and Short in fact it requires knowledge to live it and not everyone is suitable for trading. When they are trying to guess it means they are betting and this is the reason people say trading has little in common with gambling, whereas when directly involved the practice is different.

Real trading is about analyzing coins to predict where they will buy and sell, not just guessing. Gambling is just betting that doesn't have a definite basis of knowledge because gambling only relies on luck and everyone's luck will be governed by the gambling system.

Analyzing requires knowledge so that buying or selling predictions can be done correctly, although sometimes when doing this it doesn't always go the same way and isn't always right. We will never encounter strategies in trading when we are not directly involved, because studying theory alone is not enough to provide experience.

[Flexystar]

The difference need not to be proven since it is visible and logical. Trading is work of facts, real volumes, events, virtual and physical changes in any assets and much more. It is mixture of those things which drives the price of that particular asset. It takes up more than that to decide a future of asset and it’s pricing. While on the other hand gambling is pure luck, house edge status and your decisions while playing. It’s a game with luck and nothing more. You can’t decide if the rocket is going to crash OR whether a slot will give jackpot in the next move. It keeps running and running until the time we don’t quit it. I see no similarities or ways to compare both of them. Not sure how people are calling them gambling ?

[Mahanton]

Gambling is of two types, Sports gambling and Casino gambling. Now in sports gambling some knowledge and calculations required along with luck and in casino gambling, everything depends on luck. So yes luck plays an important role in gambling. But in case of trading, you have to adapt to the market and trade according to the market requirements. So yes in trading your capabilities and understanding of the market helps you to make desired amount of profit. In this manner you can distinguish between the two.

If we are talking about the literal gambling then yeah there were only two types of it and you already said it but other activities and aspects in life do also have gambling involved. In trading for example, there is also gambling because sometimes the market is unpredictable.

Casino games requires knowledge too because how can you play the game and win, if you don't have it? And then there are a few casino games which requires more knowledge and skills. Not only trading but the two types of gambling we talk about earlier, do also require a hard work. There are also automation features which are also available in trading. It can be inside the system or by using a bot. It's up to us, if what we will prefer.

On the time that you would really be engaging on both things then you would directly find out on what are the differences in speaking on how gambling is been involved even though its not literally means about it but
in the sense that there are factors which couldnt really be predicted then there's the essence of gambling which it could really be seen on trading too and this is why there's really a significant similarities on this part but its true that application would really be totally that different on how its been done due to some factors which could really affect out winning chance or profitability chance in between trading and gambling.
Luck does play a huge role when we do speak about gambling because we know that if we arent lucky then for sure we would lose and even on trading because due to unpredictability and total randomness of this
market then you cant really be able to tell on where prices would be going which means that you do need to gamble to make out some analysis on where it could potentially go but of course you are
already applying out on having some analysis which it would really be lessening up the risks compared on making up a position without having any analysis at all.

[Sanitough]

Both gambling and trading actually require luck, since you can’t also expect for your trades to be successful if it weren’t luckily favored by the market. While gambling is purely based on luck, trading is more on working your skills and strategies in order for your trades to succeed, and also with the help of luck. If you’re not having preparations when you trade, probably you are gambling in reality and not actually following the steps in trading.

[Silberman]

The difference need not to be proven since it is visible and logical. Trading is work of facts, real volumes, events, virtual and physical changes in any assets and much more. It is mixture of those things which drives the price of that particular asset. It takes up more than that to decide a future of asset and it’s pricing. While on the other hand gambling is pure luck, house edge status and your decisions while playing. It’s a game with luck and nothing more. You can’t decide if the rocket is going to crash OR whether a slot will give jackpot in the next move. It keeps running and running until the time we don’t quit it. I see no similarities or ways to compare both of them. Not sure how people are calling them gambling ?

Well what you said makes sense, but how many traders act like that and treat each one of their trades as an object of study from which they can learn to improve their strategy and earn money as well? Very few, many traders out there trust on their gut feeling, the signals they can find on a telegram group or they invest in meme coins and hope for the best, and the only way to categorize their behavior is as gambling, not that there is anything wrong with gambling itself, it is just that the markets are not really the place for it.

[Falconer]

Both gambling and trading actually require luck, since you can’t also expect for your trades to be successful if it weren’t luckily favored by the market. While gambling is purely based on luck, trading is more on working your skills and strategies in order for your trades to succeed, and also with the help of luck. If you’re not having preparations when you trade, probably you are gambling in reality and not actually following the steps in trading.

Everyone needs luck in any activity including trading, investing, and so on. Even someone who applies for a job with a limited number of participants also hopes for luck instead of relying only on his knowledge and skills, so the word luck applies to whatever we do and do in our daily lives.

It's just that if traders only rely on luck, then they only gamble on trading. Ideally they do their analysis and make a good decision, but if they buy just because they believe it will be profitable then clearly they are bet money on the trade.

[freedomgo]

Trading needs a long term preparation before you start to risk yourself in it, and by investing on yourself first like gaining adequate knowledge and essential skills as a trader, you will increase your chances to be a successful trader in the making. However, luck is what we only need in gambling, no need to study and be expert when gambling, because as long as you have that luck you will be in profits, and once you have gone out of your luck, then prepare to set yourself into losses.

[DoublerHunter]

^ You have raised an interesting point.
In gambling, luck often plays a significant role, as outcomes are primarily based on chance.
However, when it comes to trading, while luck can occasionally play a minor part, it is generally not the determining factor for success. Trading requires a combination of knowledge, skill, analysis, and diligent effort. Traders need to study market trends, analyze data, develop strategies, and make knowledgeable decisions based on what they have studied. It's a proactive process that involves continuous learning, adapting to market conditions, and managing risks. While luck may occasionally favor traders, it is their hard work, discipline, and expertise that ultimately contribute to their success. So, while luck may be a factor in gambling, trading relies more on the dedication and a preparation plan tat includes a stop-loss technique.

[Oilacris]

Both gambling and trading actually require luck, since you can’t also expect for your trades to be successful if it weren’t luckily favored by the market. While gambling is purely based on luck, trading is more on working your skills and strategies in order for your trades to succeed, and also with the help of luck. If you’re not having preparations when you trade, probably you are gambling in reality and not actually following the steps in trading.

Everyone needs luck in any activity including trading, investing, and so on. Even someone who applies for a job with a limited number of participants also hopes for luck instead of relying only on his knowledge and skills, so the word luck applies to whatever we do and do in our daily lives.

It's just that if traders only rely on luck, then they only gamble on trading. Ideally they do their analysis and make a good decision, but if they buy just because they believe it will be profitable then clearly they are bet money on the trade.

Luck is indeed significant on what we do engage in life because there are even real life decisions on which we do need up some luck for us to get the most benefit or advantage.Somewhat this is really

that relevant when it comes to investment matter on which luck would really play a significant part.Talking about cryptocurrency then it does need analysis and at the same time it would be needing some sort of luck for you to become profitable. We know that this market is really that unpredictable and totally random on which every situation and condition would really be entirely be depending on how this market ends up.

With trading then you would really be needing to make some hard work or simply having the analysis.You cant really just make yourself make out some trading position
without having some considerations or analysis because it would really just increase the risks of losing money instead.

[Tony116]

Both gambling and trading actually require luck, since you can’t also expect for your trades to be successful if it weren’t luckily favored by the market. While gambling is purely based on luck, trading is more on working your skills and strategies in order for your trades to succeed, and also with the help of luck. If you’re not having preparations when you trade, probably you are gambling in reality and not actually following the steps in trading.

Everyone needs luck in any activity including trading, investing, and so on. Even someone who applies for a job with a limited number of participants also hopes for luck instead of relying only on his knowledge and skills, so the word luck applies to whatever we do and do in our daily lives.

It's just that if traders only rely on luck, then they only gamble on trading. Ideally they do their analysis and make a good decision, but if they buy just because they believe it will be profitable then clearly they are bet money on the trade.

Luck is indeed significant on what we do engage in life because there are even real life decisions on which we do need up some luck for us to get the most benefit or advantage.Somewhat this is really

that relevant when it comes to investment matter on which luck would really play a significant part.Talking about cryptocurrency then it does need analysis and at the same time it would be needing some sort of luck for you to become profitable. We know that this market is really that unpredictable and totally random on which every situation and condition would really be entirely be depending on how this market ends up.

With trading then you would really be needing to make some hard work or simply having the analysis.You cant really just make yourself make out some trading position
without having some considerations or analysis because it would really just increase the risks of losing money instead.

I also said this in another thread. Indeed, luck is not the only factor that determines our success in trading or investing, to succeed, we need knowledge, careful calculation, and our own efforts. But we also cannot succeed without the element of luck to help, luck can be said to play a pretty important role in anyone's success. Not only for this market, but even our lives are unpredictable, and there is no recipe for success without luck.
But don't think that just by luck, we will succeed without effort, luck only comes when we try our best. So in trading or investing, we never stop learning and experiencing things.

[irhact]

Trading needs a long term preparation before you start to risk yourself in it, and by investing on yourself first like gaining adequate knowledge and essential skills as a trader, you will increase your chances to be a successful trader in the making. However, luck is what we only need in gambling, no need to study and be expert when gambling, because as long as you have that luck you will be in profits, and once you have gone out of your luck, then prepare to set yourself into losses.

Trading needs you spending time researching and understanding how the market moves so when you make your predictions you get to be right to make some profits as you trade. Trading can't be done by just waking up and having the feeling to trade, you have to go through several weeks of learning and mastering trading before you can become profitable in trading. With experience from past times of trading then you can become very profitable.

Gambling doesn't depend on your experience as both a professional gambling will lose when he doesn't have luck on his side. Gambling doesn't get better with you experience as trading does. Gambling is just luck as your previously success doesn't determine your future profits.

[AicecreaME]

Luck is also needed in trading, since the price is very unpredictable and technical analysis ain't always on point for us to make profits.

For me the risk in gambling is much more large than trading, since it could be manipulated by the house in some ways we don't know for them to make bankroll every single day. Trading is all about efforts and dedication, the skill set is your weapon to analyze thoroughly before entering a trade, in short, the chances of winning in trading is larger than in gambling, in my opinion.

[Merit.s]

Trading and gambling are two different things entirely but they do have the same risks. Just the way,a gambler can be addicted to gambling,a trader can also be addicted to trading to the point that even when the market is not profitable,he will continue trading. However,trading has more benefits than gambling when you become a professional trader,because you will have your own strategy for trading in order to making daily profit,which is possible. Gambling can never have any strategy that will make one win all the time. Gambling can make you borrow funds to gamble or sell your property to gamble,but I don't think that I have heard of any trader who sells his property or borrow money to trade.

[Fivestar4everMVP]

Well, the number 1, 2 and 3 points are very correct, but the last line is rather not entirely true, yes, trading is not gambling, and trading needs work while gambling relies on luck, there are still some games in gambling that does not entire depend on luck, it requires the player to possess a good playing skill of that game, and that skill can also be likened to as work, since it's something the player have to spend time learning.

And one the aspect of trading, trading still require a small level of luck, all the work without luck can still result in a loss, yeah, though luck in trading is totally invisible, but that does not mean it's not there, there are traders who put in all the work and still lose a trade, not that they did not work hard enough, put simply luck wasn't on their side.