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.
Yes. As you can see there are difference between a gambler and a trader. We must know this difference in order for us to be able to know wheter we are a gambler or a trader. And as we can see most of the gambler's characteristics are negative. But for me it is depend on a person wheter on how he handle things as a gambler or a trader. We must know our priority and the things we may achieve if we become gambler or trader.
Determining the differences between the two can greatly help us what to do and where to go. Market condition may not always be on our favorable side, but if we are wise enough to deal with its uncertainties then we can survive. A successful trader is someone who has the right attitude to stay focus, to be committed, is open-minded and has clear set of plans. It all requires dicipline and passion in what you do.