Here are some characteristics of successful traders and gamblers:
A gambler:
- Have no transaction method.
- Do not take notes of your views on the market trend daily.
- Dont care about risk management
- Spend most of your time focusing on winning and making profit.
- Let emotions dominated their mind when trading
-Place orders without consideration.
- Place too many orders
A trader:
-Understand and master an effective trading method
-Have a clear and specific trading plan and comply with it.
- Have a daily note on market view and trend
- Pay attention to risk management for each trading order
-Dont set making profit and winning as their 1st priority
- Only make the deal when the price model matches the method.
-dont let emotions control their actions
- Consider coin trading as their career and daytime job.
If you have those characteristics of the gamblers, you should change it immediately. If you have trader traits, maintain them for as long as possible and remember to always think twice before doing.
Wow, man youre very right! These are really the qualities of a real trader which can differentiate them from a gambler. Gamblers dont care about anything that has to do with market trend or whatever, all they care about is just to put in money and take the risk, whether to win or to lose.
But a real and professional trader will always consider a lot of things before making any move. But not everyone is an expert, there are people who dont know anything about the business and can make mistakes most times.
A successful trader step into the market with certainty and creativity. Irrespective of what the market condition are, he never accept pessimism, rather chooses optimism.
They keep an eye on the market prices, market response. At times would invest in assets which might not look beneficial in short run but in long run is often the habit. A gambler on the other hand might call the lack of these characteristics either the lack of luck or a bad fortune.