Post
Topic
Board Trading Discussion
Re: What makes a successful trader, not a gambler?
by
orions.belt19
on 12/04/2018, 18:02:23 UTC
People often mistake gambling to be similar with trading because of the risk of losing your money while in reality, there are some differences such as its method and the fact that it takes skill and analysis to trade.

I'd have to disagree with one of OP's points, which is that gamblers place orders without consideration. While some gamblers really don't, there are some of this who take things into consideration before making a bet. It may take purely luck (and not skill) to win in gambling but gamblers also consider some factors before betting.

the most important thing is having a brain and knowing how to use it!

everyone starts from zero and works their way up towards becoming an "expert". the difference is that when a good trader makes a trade no matter the result they will gain some experience and the next trade they make will be a better one and little by little they will grow.

a gambler, however, makes a trade but the result doesn't matter to him. if he wins he just becomes happy and if he loses he becomes sad. he doesn't waste any "brain power" to analyze what went wrong or right that led to the loss or profit. that is why not everyone becomes successful in trading...
Having knowledge of what we do is a must. The risk of our transactions will just depend on how we sort things out. Gambling more depends on luck than on skills that makes it differ from trading. We should do finalization whenever we want to trade our coins and know why the market moves that way , it may just due to fuds that makes the loss.

Also, when you lose a trade you may analyze the factors which made you lose unlike with gambling which is randomized. Even when a gambler sustains numerous losses, he won't learn ways to avoid losing in the future. Gaining knowledge about gambling won't make you win more, but education of one's self will help you in the field of trading/