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

[sulendra12]

~snipped~

Little bit of luck helps a lot, it's not even for gambling only. Sometimes when you do everything in your daily life even on your job, you need little bit of luck so at least you can do your stuff better. You can't search for luck or anything, it just happens in your life(that's why there is a term of unlucky), it's not on-topic but you got what I mean.

Trading requires more of knowledge and analyzing instead of relying on luck but still sometimes there will be one day you will lose and the other day you will not. It's pretty normal in trading and I'll take that as a experience.

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[Chipstars]

I have read many discussions about trading and gambling, some people have rather joined the two as gambling. That is not totally true. For traders who agree that trading is same with gambling, they are just lazy to go into work and adopt the ethical way to trade and those are:

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.

2. A trader can adjust his risk appetite by reducing the lots size to suit his account and determine his appropriate leverage but in gambling, a bettor has to go with the odds provided for the gay. He can't reduce or increase it against the fixed odds.

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.

Trading is not gambling. You require luck in gambling but you require work in trading.

What is your thought.

You're right, trading and high-skill gambling like poker share similarities in risk management, decision-making under uncertainty, and the need for skill development. Both require strategy and discipline, not just luck. Interestingly, many professional poker players transition into trading due to these parallels. However, unlike gambling, trading allows for more control over risk and analytical strategy implementation. They're not the same, but they're not entirely different either.

Gambling is in general an entertainment business. Casinos like ours provide players with the thrill of the chase, however, for some it grows into addiction. Healthy gambling with good risk management and size control can be quite a pleasurable (and sometimes even cheaper) experience compared to going out and partying.

[AbuBhakar]

Gambling is in general an entertainment business. Casinos like ours provide players with the thrill of the chase, however, for some it grows into addiction. Healthy gambling with good risk management and size control can be quite a pleasurable (and sometimes even cheaper) experience compared to going out and partying.

Nice advertisement for gambling since you are from a casino but still I don't consider gambling better than going in to party because having a social life is still the best source of entertainment than soaking myself on bets that gives me risk. No offense but I really enjoy playing gambling, in fact I'm always gambling right after I meet my friends for a couple of drinks but I won't partying to gambling because it gives more entertainment to socialize with other people.

But hey, We different preference in terms of how we get entertainment.

[Chipstars]

Gambling is in general an entertainment business. Casinos like ours provide players with the thrill of the chase, however, for some it grows into addiction. Healthy gambling with good risk management and size control can be quite a pleasurable (and sometimes even cheaper) experience compared to going out and partying.

Nice advertisement for gambling since you are from a casino but still I don't consider gambling better than going in to party because having a social life is still the best source of entertainment than soaking myself on bets that gives me risk. No offense but I really enjoy playing gambling, in fact I'm always gambling right after I meet my friends for a couple of drinks but I won't partying to gambling because it gives more entertainment to socialize with other people.

But hey, We different preference in terms of how we get entertainment.

Hi AbuBhakar,

Your perspective is absolutely valid, and I appreciate you sharing it. Different strokes for different folks, as they say.

Just like you, many people find the thrill of socializing and meeting new people more engaging than placing bets (I know I do). The camaraderie, laughter, and conversations we share, when we go out with friends, are indeed irreplaceable.

Our point was never to pitch gambling as a superior form of entertainment, but rather to acknowledge it as an option among many. Each person has their own ways of seeking thrill and enjoyment, and for some, that's a hand of poker or spinning the roulette wheel, before calling it an early night and preparing for a productive day tomorrow.

Ultimately, whether it's trading, gambling, or partying with friends, it's all about striking a balance and doing what brings you joy without neglecting other aspects of your life.

Stay safe and have fun in whichever way you choose!

[Myleschetty]

~snipped~

Little bit of luck helps a lot, it's not even for gambling only. Sometimes when you do everything in your daily life even on your job, you need little bit of luck so at least you can do your stuff better. You can't search for luck or anything, it just happens in your life(that's why there is a term of unlucky), it's not on-topic but you got what I mean.

Trading requires more of knowledge and analyzing instead of relying on luck but still sometimes there will be one day you will lose and the other day you will not. It's pretty normal in trading and I'll take that as a experience.

Yes, luck is needed in almost all the area of human life or activity but we shouldn't forget that luck doesn't just come in and always come in after man have applied his own knowledge. Therefore, knowledge is what is needed first either in trading, gambling, or other business niches after the knowledge and some hard work then luck comes in.

[Litzki1990]

In order to profit from gambling, one should have some understanding of gambling in addition to relying on one's own luck. As much as imagination is needed, luck is needed. But in the case of trading, nothing will happen if we depend on luck, but if we trade depending on luck, then we will suffer more in that trading. To be successful in trading, zero percent is dependent on luck and 100% of your skills must be used. One should never get involved in trading without having sufficient idea or knowledge about trading. First we need to know about trading after getting full understanding about trading then we have to get involved with trading then we can get success.

[Chipstars]

In order to profit from gambling, one should have some understanding of gambling in addition to relying on one's own luck. As much as imagination is needed, luck is needed. But in the case of trading, nothing will happen if we depend on luck, but if we trade depending on luck, then we will suffer more in that trading. To be successful in trading, zero percent is dependent on luck and 100% of your skills must be used. One should never get involved in trading without having sufficient idea or knowledge about trading. First we need to know about trading after getting full understanding about trading then we have to get involved with trading then we can get success.

If you plan to get lucky with trading, maybe it's better to come to the casino instead. At least you don't have to wait months to know if you are winning or losing. Trading without a strategy or at the very least a plan is gambling. If you ever fomo'ed or sold at a loss (in a panic) you were gambling.

[cytpoway121]

Trading is not gambling. You require luck in gambling but you require work in trading.

What is your thought.

Yes, trading is not gambling. i agree 100%
Yet again, you need a bit luck in every endeavors so No, you require work + luck to achieve climax in everything you do including crypto currency trading. Every day, every month; we all together read news about bitcoin funds being liquidated in futures (the individuals whose funds were liquidated are traders, qualified and competent one too).

I always say that in trading, you do not need to be perfect but excellent; and need a bit of luck too. it doesn't take away your competency

[irhact]

Gambling is purely based from luck and chances, while trading is based on knowledge and skills, and some good and working strategies to win the trades. Though I believe trading also needs luck as much as it is as there are times trading end up still at a losing end. And when gambling, even if you have the knowledge and strategies, winning is not guaranteed while trading increases its chances of winning your trades and making you profitable if you know how to analyze the market and adopt whatever the market trends.

You're correct, trading can be learnt. You can decide to learn how to trade and dedicate some specific amount of months to undergo serious training where you learn all that's needed to become a professional trader and you do all this with practical and not just verbal. In the simplest of terms, trading is a skill while gambling isn't. You can learn from the mistakes you made while trading and try to improve on them but when gambling, learning from your mistakes won't mean you'll have a successful bet the next time you gamble.

Gambling shouldn't be compared to trading, just because most traders gamble when trading by making decisions based on how they feel doesn't mean that's how trading works. This type of traders don't last long in the market as they end up losing majority of their money.

[palle11]

You're correct, trading can be learnt. You can decide to learn how to trade and dedicate some specific amount of months to undergo serious training where you learn all that's needed to become a professional trader and you do all this with practical and not just verbal. In the simplest of terms, trading is a skill while gambling isn't. You can learn from the mistakes you made while trading and try to improve on them but when gambling, learning from your mistakes won't mean you'll have a successful bet the next time you gamble.

This is a very important difference for trading and gambling. Apart from the rigorous time of proper and professional learning of the ropes which are so many to mention, from learning the general market analysis, currencies and coins interphase and interaction like $ especially, you now begin to learn how to operate on the trading platform or channel, how to place orders and what have you including stoploss, take profit, trailing stop, all the buy limit and sell limit plus your emotions all have to be learnt. Most important difference therefore is you can learn or relearn on the mistakes you made but I don't really know if we can call anything mistake in gambling rather we consider it as bad luck on that day.

Gambling shouldn't be compared to trading, just because most traders gamble when trading by making decisions based on how they feel doesn't mean that's how trading works. This type of traders don't last long in the market as they end up losing majority of their money.

Any trader that gambles on the trading will keep gambling on it until he learns how to use the non gambling features of trading.

[lixer]

In order to profit from gambling, one should have some understanding of gambling in addition to relying on one's own luck. As much as imagination is needed, luck is needed. But in the case of trading, nothing will happen if we depend on luck, but if we trade depending on luck, then we will suffer more in that trading. To be successful in trading, zero percent is dependent on luck and 100% of your skills must be used. One should never get involved in trading without having sufficient idea or knowledge about trading. First we need to know about trading after getting full understanding about trading then we have to get involved with trading then we can get success.

Understanding trading is a very tough task and too many people think that they really understood it when in fact they didn't. Not realizing that you are still far behind and you still need to learn so much about trading is a big ask, and not a lot of people will be able to do that.

It is going to be pretty daunting task to learn all there is to learn about bitcoin and trading, but you need to do that in order to be good at what you do. People cut it short, and try to find a loophole on getting rich. Unfortunately bitcoin is not a get rich quick thing, you need to study for months before making a single trade, if you ignore that and start trading right away then unfortunately you are going to end up with a lot of trouble and won't make any profit.

[gabbie2010]

I have read many discussions about trading and gambling, some people have rather joined the two as gambling. That is not totally true. For traders who agree that trading is same with gambling, they are just lazy to go into work and adopt the ethical way to trade and those are:

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.

Obviously there is nothing like Stop Loss in gambling unlike trading where a Stop loss can be placed at a few distance from the last swing, Resistance or Support with a specified Take profit, you can place a buy or limit order this is not applicable to gambling.

2. A trader can adjust his risk appetite by reducing or adjusting his lots size to protect his account and determine the appropriate leverage or but in gambling, a bettor has to go with the odds provided for the gay. He can't reduce or increase it against the fixed odds.

This another important aspect of trading risk reduction is very helpful when a trader account is getting low or nearing margin call or liquidation a trader can reduce the lot size or leverage thus with another opportunity to recover losses which isn't available with gambling .

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.

With proper chart analysis trader a trader will in most cases have an edge over the market because trading analysis is very helpful in determining price direction of course there are different types of analysis for traders.

Trading is not gambling. You require luck in gambling but you require work in trading.

What is your thought.

Unfortunately some newbie traders don't want undergo the rigorous journey of learning how to trade they rather prefer gambling which they believe is the easiest means of earning quick money.

[dunfida]

Trading is not gambling. You require luck in gambling but you require work in trading.

You should instill this thought on your mind that trading isnt gambling on which it doesnt really need that gambler like approach on the time that you do make out trading because if you do then you would definitely be

putting up yourself into trouble since those trading position of yours would really be most likely be ending up on losing money instead of earning.If you dont have plans on doing hard work on trading then better you should be dealing with gambling on which it is less hassle and less complicated but of course everything would really be relying on luck on which it is something that you would really be doing when you do gamble.
Trading is different which it would be needing that different approach on which it is something that would really be that normally be making those strategic approach which would really be
putting you at advantage.

[Bushdark]

quite a lot of people think that trading is the same as gambling. well, they baselessly say that. quite a few people are creating classes to teach others about trading and how to trade from all aspects. in fact, some people are willing to pay to get information about what they are going to trade.

Yeah, it has been an argument several times, both on this forum and outside here. Some people think that as long as one can gamble, they can also trade perfectly because they can just choose a coin to buy and sell off if the price just grows a bit. But gambling requires a whole lot of knowledge and ideas put together before you can make some more successful trades; otherwise, there will only be losses to encounter. Gambling is a pure bet on luck, almost 99% luck and just 1% skill. No matter how much skill you have in gambling, you will not make any win without luck on your side.

Trading and gambling could look like it's all depends on luck but it is not. For us to win in gambling might require us to develop more luck skill than when you compare to trading. Trading is very different but sometimes there are people who are very luxky so they could keep making profits from trading due to the luck they gave. This is why hard work pays in trading. You need to get prepared and analyse the market at the early time before decide to get into the market to start trading. Trading is like a quick way to make money, that is if we know what we are doing. That is the reason why many persons would always to learn trading.

[jossiel]

Any trader that gambles on the trading will keep gambling on it until he learns how to use the non gambling features of trading.

That trader should have just gambled instead of gambling but, if he insists and continues doing that. It's for sure that he'll learn that he shouldn't be doing that.

And instead, the lessons that he'll learn will be there but it's gonna be quite expensive because if his approach is just like he's gambling, that's a terrible idea and should have just gone to casino instead of trading platforms.

[xSkylarx]

Any trader that gambles on the trading will keep gambling on it until he learns how to use the non gambling features of trading.

That trader should have just gambled instead of gambling but, if he insists and continues doing that. It's for sure that he'll learn that he shouldn't be doing that.

And instead, the lessons that he'll learn will be there but it's gonna be quite expensive because if his approach is just like he's gambling, that's a terrible idea and should have just gone to casino instead of trading platforms.

For sure, the mindset of the trader is only gambling, and he just thinks that the strategy in gambling is the same as in trading, which we know could lead to big losses. Also, if that is his mindset, for sure he will learn a valuable lesson (if he reflects on those mistakes), as it may work at his first trade, but for the next trade, for sure, it is against the trader. But right now, most of the traders are aware that trading is not like gambling unless they are super lucky and win their entries, but most of them are developing their own strategy for their trades.

[Peanutswar]

You can define in an easy way gambling and trading, in trading you are using all of your knowledge, skills, and experience and execute those in your target position. This now depends on the market price movement. With the help of technical analysis, you can make changes to your trading plan or hit the base on your plotted prediction, its not a hundred percent accurate but it has the chance to know the possible next move of the market, in gambling you are letting yourself that the machine makes an earning to you but this is by chance because its an auto-generated unless you are playing with the strategy game. Still, you don't have a clue what are the cards or strategies other players will do to win. Its seems like knowledge versus luck in that case.

[rozak]

You can define in an easy way gambling and trading, in trading you are using all of your knowledge, skills, and experience and execute those in your target position. This now depends on the market price movement. With the help of technical analysis, you can make changes to your trading plan or hit the base on your plotted prediction, its not a hundred percent accurate but it has the chance to know the possible next move of the market, in gambling you are letting yourself that the machine makes an earning to you but this is by chance because its an auto-generated unless you are playing with the strategy game. Still, you don't have a clue what are the cards or strategies other players will do to win. Its seems like knowledge versus luck in that case.

which is why the OP said trading takes work. and traders who have gambled also must be able to tell the difference. those who still cannot distinguish between trading and gambling, I still believe that he is a novice trader. or maybe he managed to make a trade by his luck, so randomly set up positions to sell and buy and coincidentally made a profit. so he can't tell the difference between his luck in trading and his luck in gambling.

[Kelvinid]

Trading is not gambling. You require luck in gambling but you require work in trading.

What is your thought.

Having no experience and knowledge from trading, you will simply think that it is all about luck like how gambling does. But this will eventually change once have an experience and there to find out that trading never works as we like if we don't work on it. In fact, we have these trading tools as necessary which we don't use in gambling and that is because the two are different things.
Until there are people who got into trading without product trading education, luck is always on their mind and their actions.

[gunhell16]

We know that trading and gambling are not the same. The others here are trying to say that trading is like gambling, when trading becomes just like gambling, you are not betting here, you are a trader in trading. Whereas in gambling there is nothing like that, as long as you bet and if you are lucky you will win instantly and you will have an immediate income.

While in trading you need to develop your skills here, you must know how to use the tools that are used in the trading view or any exchange platform so that you can trade, and use this analysis either technical or fundamental. Why? is there technical and fundamental analysis in gambling? isn't there anything?