Quote from: mvdheuvel1983 on Today at 06:34:13 PM

Quote from: Kelward on November 11, 2023, 08:24:23 PM

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?

I take risk every day when I am driving. I take risk everyday when I decide to invest in a business or in a property but will this make me a good stock trader or with the risk I take while driving makes me a good pilot based on experience in risk-taking? The answer is no though on the surface the experiences may seem similar but if you dig deep within you would see that they are more different than similar. A Gambler cannot be a bitcoin trader. Trading requires more specialised skills and emotional intelligence than gambling despite the risks taking activities involved in them. Any Tom Dick and Harry can be a a bitcoin gambler within a couple of weeks and may be luck yollto win some good money but none of them can be a trader within a couple of weeks.

You should understand that we have different types of risks, and you can not categorize all of them together. There are minor risks like watching left right and left again before you cross the road, being careful when tour cutting with a knife. Foolish risk is jumping into a lagoon to cool off or trying to save a person that is being electrocuted with bare hands. There are many m other types, but I'll focus on financial risks. I agree that bitcoin trading requires special knowledge, but still this professionals lose their coins in trading despite their accurate predictions of the market, why? Because just like gambling, they take risk without knowing the outcome of their trade. So luck plays a part too in trading, despite the trader's ability to read charts, he can still lose. In that regard you can say that the bitcoin trader also gambles. The difference that I see between them is that a bitcoin trader needs to diligently learn trading while a gambler might not need any special skills to gamble, but they both face similar risks.