Quote from: Sanugarid on Today at 09:04:45 PM

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

I base my question about whether a gambler can become a good bitcoin trader, because both of them share one factor which is risk. A gambler is a risk taker, he stakes his money without knowing the outcome of the game that he is about to play. There is no guarantee that he will win, yet he goes ahead to play, knowing fully well that he can lose his bet. Same thing with a bitcoin trader, he goes ahead to engage in trading knowing fully well that the market can turn around negatively for him, making him to lose his bitcoin. Yet he goes ahead to trade in the hope of making profit.

Although there are some differences between the two, like most gambling depends mainly on luck. You play and let luck decide fate of the game, that is the risk factor, because the gambler doesn't have any control or influence to determine the outcome of the bet. Also a bitcoin trader doesn't have any control or influence to determine how the market swings, he takes the risk to trade his bitcoin without knowing the outcome whether it'll be profit or lose. The diffidence between the two is that a bitcoin trader can predict the market, while a gambler can not predict the outcome of a bet, except in sports bet.

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?

Of course, that is possible if the gambler also learns how to trade. Everything can be learned, I also believe that there are people like this who can do those 2 things. Either of those two is really risky, the only difference is that the trader can track it and you can make money here without relying on luck. As a gambler, it is difficult to win consecutively or earn a lot of money here, you really have to rely on your luck to win big in gambling and it is rare that you win a jackpot in gambling.

Gambling and trading isn't something that is easy to combine especially the trade aspect, because one can lose alot of his capital or funds used in trading if he forgets or lose focus on the trade session he is currently watching. Gambling is somehow more easier but it's definitely another case scenario if the person involved is an obsessed gambler.