Well it all depends on the experience of the trader, I believe. At first, we all just speculate, but then, when we get experience, we begin to make transactions with the mind and it is not like speculation. These are already considered trading decisions.
Speculation were from Newbies, I guess we all start as speculators until we get to learned to have some basis on what we trade and how the graph works.
Traders are not born, they are made. We all started from scratch, as beginners, , but with the willingness to explore and learn, traders become experts and influencers. They too face challenges, failures, and mistakes, the journey may be rough, but with strong will to succeed and with positive mindset they become learned and experienced.