Can a gambler be a good bitcoin trader?

[Casdinyard]

It’s less about being a good gambler and more about actually taking the time to understand the concepts that revolve around trading. While you may believe that “trading is just gambling with extra steps”, there are still concepts beyond a gambler’s grasp that sets the former from the latter apart. For example, there’s no such thing as shorting on a game, and yet this is commonplace in the trading world.

If you want to be a good gambler, be responsible and know which games you want to stick with for the rest of your journey. If you want to be a great trader, learn the fundamentals and study how the market works. Don’t go thinking that just cause you learned the other thing, you’d have the knowledge to carry on with the other. This is not driving where you can just learn about stick shift and then immediately understand how automatic cars work

[uneng]

I don't see differences between gambling and short term trading. Both activities require high luck from the individuals involved on them in order to succeed, while skills are a secondary factor which can help, but isn't decisive. I say that, because the market is unpredictable on short term. Today Bitcoin can be pumping and tomorrow its price can be crashing without any apparent reason.

Furthermore, the so called analysis skills are put in practice only after the fluctuation in price happens. That is, they never predict anything, but justify why the price has increased or decreased.

Following this logic, a gambler can be a good trader, since he is lucky on both fields.

[Oilacris]

I base my question about whether a gambler can become a good bitcoin trader, because both of them share one factor which is risk. A gambler is a risk taker, he stakes his money without knowing the outcome of the game that he is about to play. There is no guarantee that he will win, yet he goes ahead to play, knowing fully well that he can lose his bet. Same thing with a bitcoin trader, he goes ahead to engage in trading knowing fully well that the market can turn around  negatively for him, making him to lose his bitcoin. Yet he goes ahead to trade in the hope of making profit.

Although there are some differences between the two, like most gambling depends mainly on luck. You play and let luck decide fate of the game, that is the risk factor, because the gambler doesn't have any control or influence to determine the outcome of the bet. Also a bitcoin trader doesn't have any control or influence to determine how the market swings, he takes the risk to trade his bitcoin without knowing the outcome whether it'll be profit or lose. The diffidence between the two is that a bitcoin trader can predict the market, while a gambler can not predict the outcome of a bet, except in sports bet.

So if a gambler where to go into bitcoin trading, do you think that the experience of taking risk in gambling will be an added advantage to face the risk of bitcoin trading?

The difference in between things is that a trader does really deal up with something that could bring up money or profits neither long term or short term. It does have risks but its not really that something that as much as risky with gambling. Now on the question , can a gambler be a good bitcoin trader? There's no way on telling whether it would be yes or no because if you are a gambler which is really that exposed to high risk then for sure you would really be applying it somehow on the time that you do trade but sooner or later you would really be able to realize on how you should really be dealing up with it on which trying out to have that good risks management considering that it isnt really needing for you to have that kind of impulsive approach yet trading
would really be that different.

[Mr.suevie]

I base my question about whether a gambler can become a good bitcoin trader, because both of them share one factor which is risk. A gambler is a risk taker, he stakes his money without knowing the outcome of the game that he is about to play. There is no guarantee that he will win, yet he goes ahead to play, knowing fully well that he can lose his bet. Same thing with a bitcoin trader, he goes ahead to engage in trading knowing fully well that the market can turn around  negatively for him, making him to lose his bitcoin. Yet he goes ahead to trade in the hope of making profit.

Although there are some differences between the two, like most gambling depends mainly on luck. You play and let luck decide fate of the game, that is the risk factor, because the gambler doesn't have any control or influence to determine the outcome of the bet. Also a bitcoin trader doesn't have any control or influence to determine how the market swings, he takes the risk to trade his bitcoin without knowing the outcome whether it'll be profit or lose. The diffidence between the two is that a bitcoin trader can predict the market, while a gambler can not predict the outcome of a bet, except in sports bet.

So if a gambler where to go into bitcoin trading, do you think that the experience of taking risk in gambling will be an added advantage to face the risk of bitcoin trading?

This depends on the gambler, he or she can choose not to involve in trading activity or take a serious courses on trading and become a successful trader. And moreover, most crypto traders here are referred to as gamblers because of the uncertainty of the two event and how somehow luck is actually the base factor but with trading that can be overcomed in he or she is actually an expert trader.

[kingvirtus09]

Anyone who is a gambler can become a good bitcoin trader; it just depends on the decision and determination that a gambler has. How can you be a good bitcoin trader if you don't decide to do it?

And when you have decided that you want to become a good bitcoin trader, you should study and find out what the first step is to do, because if you know the right process for sure, in the end you will realize that you made the right decision, my friend.

[adultcrypto]

If you have mastered the skill of gambling, you have, to a large extent mastered the skill of trading because both have a common denominator which is psychological maturity. The greatest asset every successful trader have at his disposal is trading psychology that eliminates bad habits such as greed, risk management and so in. Similarly, gambling requires the mastering of money management, greed control and others. Therefore, a good gambler can become a good Bitcoin trader.

[TravelMug]

So if a gambler where to go into bitcoin trading, do you think that the experience of taking risk in gambling will be an added advantage to face the risk of bitcoin trading?

Why not? this is the best use case for bitcoin, gambling and then trading. And that's why bitcoin is the most used crypto, and we all know that majority of us trades too, although I will say that I no longer trade but just save and accumulate BTC. But for some, it's doable for them, specially if they really have outside exposure already, i.e. knows how trading works prior to joining the crypto market. And obviously as what we are all talking, both gamblers and traders know that there are risk involved, so they understand the consequences. However, for me the risk is greater with gambling, as it is based on pure luck but in trading, there are tools that can help you analyze the market and make the right decision and then get profits. And there is also this school of thoughts that say "trading is just another form of gambling". So they are somewhat related as far as I know. Good example, if other bet on $Pepe or $Shiba to make it in the next bull run and give us huge profits, then it could be gambling per se.

[CryptoHeadlineNews]

I base my question about whether a gambler can become a good bitcoin trader, because both of them share one factor which is risk.

Yes, it's true that both Gambling and Bitcoin investment involves risk, which is one thing they both have in common, but while one involve a higher risk (I.e Gambling), the one thing certain is that while one involves a higher risk, the other one involves a lesser risk, and by that I mean, for example when gambling an individual is likely to lose all his/her capital if the game do not go as predicted, but when it comes to Bitcoin investment, such individual is only likely to lose just a fraction of his money, and not his entire money. But only if such money is not invested in shitcoins or altcoins.

[Japinat]

That's difficult to achieve because labeling someone as a gambler implies they are very active in gambling. Trading requires focus, and it's challenging to find success if time is not fully dedicated to trading.

With numerous games on a daily basis, a gambler might be too engrossed in gambling. It's crucial to choose one path for success, that is either become a successful trader or a successful gambler. Perhaps one can be a successful trader if gambling is pursued purely for fun.

[xLays]

Can a gambler become a good trader? Yes. If he learns how to trade. He has little to read about risk management and he should still know that he should trade with the amount of money that he can afford to lose.

Gambling and trading both involve taking risks but in crypto trading people often use strategies, research and market knowledge to make informed decisions. Gambling tends to rely more on chance or luck without considering those factors. However if someone trades recklessly without a plan it can resemble gambling because they're taking big risks without a clear strategy.

[Ziskinberg]

If you have mastered the skill of gambling, you have, to a large extent mastered the skill of trading because both have a common denominator which is psychological maturity.

If you've mastered the skills in gambling and consistently achieved positive results, there's no reason to venture into trading as it would only divide your focus. Both trading and gambling share the common goal of being profitable, so why not stick to gambling? I believe we can maximize profit more effectively in gambling, and it will be more fulfilling since we can make money and enjoy what we are doing at the same time.

Honestly, trading is not as enjoyable as gambling, which offers entertainment. It's a significant success to be entertained and profitable simultaneously.

[danherbias07]

First, he needs to learn about trading because it's not something where you can just jump in because you are a gambler, a risk taker, or whatever they call it.
Trading has risk too and it doesn't mean a gambler can make good decisions there. In fact, it might be worse if he or she keeps on taking high-risk trades.
I mean, we cannot just rule out that they have better choices because of their courage.
Trading is not something that we should play around like it is in gambling. Remember there are technical analysis that is being done with it while in casino games you are just playing around and letting the system decide if you are lucky or not. There's really no analysis with it and we just let the gambling site decide for us unlike what it is in trading where we will be the one who makes all those choices.

[angrybirdy]

Can a gambler become a good trader? Yes. If he learns how to trade. He has little to read about risk management and he should still know that he should trade with the amount of money that he can afford to lose.

well, both of them is very risky and thats a fact. When you are a gambler, it doesn't mean that you're able to become a trader because there's a big difference between them. let say that in gambling, you can play whenever you like and there's a chance to win because of luck without having a background idea on what you are playing while in trading, you need to have technical analysis before you trade and it needs an intensive plan and decision making. Though, Gambling is more enjoyable to play than trading, I think it's better to focus in one of them.

[michellee]

Some gamblers can be traders at the same time. However, some gamblers feel trading is difficult for people who are used to gambling. But if a gambler wants to get into Bitcoin trading, as long as he is willing to learn what it takes, he can follow the market movements. And he could face the risks because he is used to dealing with risks.

They can also take risks by speculating on market direction. And because they can adapt to changes in Bitcoin prices, it means they have to always be alert and ready for everything. But because they can study trading well, they will discover the fact that trading is actually different from gambling.

And it is not impossible that, in the end, he will prefer trading to gambling. That's because he saw the potential for him to make bigger profits than from gambling. If trading can change him to start reducing gambling activities, that means he can get a benefit from trading rather than gambling.

[Jaycoinz]

A gambler can be both a good trader and also a bad one depending on how well he or she has developed their self in the act because gambler tend to be all focus on gambling because getting a diverted attention can cause you lose games sometimes and plus the fact that trading isn't something you just wake up and start doing so I think it depends on the gambler, if he wants to involve trading to one of his hobbies, although many people seem to think trading is actually some kind of advance gambling.

[goxcraft]

Gambling and trading are two different things buddy. How can a good gambler be a good trader or good trader a good gambler? That doesn't make sense. If you were to say if a skilled software developer can be a skilled web developer, then that will make some sense. Because both of these skills originated from the same source (programming). It may take some times, but it's possible.

Now if I get back to your question. The only way for a good gambler to be a good trader, if he acquire the knowledge of trading. There is no shortcut to that. Hope that make some sense.

[electronicash]

when you are in the crypto industry for a long time, you will eventually learn to trade well like the swing traders who gets the most profit in few trades. its not hard to learn to trade when you are interested.

just like the traders or anyone holding coins, gamblers will certainly be interested to trade coins if it meant profit especially in the bull market. but it would be best if they trade in major exchanges and not on the internal exchange of casinos where they are playing.

[redsun114]

The answer to your question on whether a gambler can be a good Bitcoin trader or a trader, in general, is yes, of course, but your equations and examples are not accurate because you can't compare gambling with trading despite them having one thing in common which is that both, a trader and a gambler, take risks with their money but there are a lot of differences between the two things, gambling is mainly dependent on luck while trading requires skills, knowledge, and experience.

A person who knows the cryptocurrency market very well and has gained some trading experience will be able to earn good profit from cryptocurrency trading but the same cannot be said about gambling because you can't have an upper hand in gambling no matter how much knowledge or experience you have.

[|MINER|]

So if a gambler where to go into bitcoin trading, do you think that the experience of taking risk in gambling will be an added advantage to face the risk of bitcoin trading?

What's type of gambler is it addicted or non addicted gambler? Bitcoin trading has nothing to do with gambling. Gambling is all about depending on luck and throwing your money at risk and on the other hand there are some aspects of investment in Bitcoin where you have to do technical analysis and if you don't have the knowledge of technical analysis you can face loss there too. In the case of an addicted gambler, if he has made bitcoin investment without following technical analysis or fundamental analysis, then bitcoin investment is also like gambling for him.  In my opinion it is better not to go into trading for those addicted gamblers

[Hirose UK]

A gambler can be good trader but can also be bad trader depending on whether the gambler himself has a wise attitude or not because you can see for yourself that most gamblers are greedy people and more often take wrong steps that end in losses.
If we talk about the positive side, the gambler soul has feeling that it is easier to take risks and not give up easily or have steely mentality which can enable when trading to always stick to one stance and not be easily influenced by fomo or certain hype.
In trading taking risks is very important because all the assets you trade have a big risk, almost the same as gambling even though if you trade, you won't spend all your money without leaving anything like gambling.

Out there, I sure there are many traders or investors who are also gamblers and people like this will usually find it easier to generate success from trading compared to people who have never gambled and cannot accept the risks of trading.
As the saying goes, luck or success will only come to those who dare to take risks.