Quote from: Kavelj22 on March 30, 2024, 05:08:07 PM

Quote from: alastantiger on March 01, 2024, 07:42:02 PM

1. Don't bet all your money on one bet.
2. Bet the same amount on every bet.
3. Don't bet more than once a day.
4. Don't bet every day.

You maybe forgot the most important one which is "Never bet using money you may afford to lose whatever the amount is". I consider these to be the most important statements of all, which, although they have recently been invented and used extensively in trading, but this confirms their essence even more, because trading or investing in crypto can also be considered a form of gambling, given that you can never guess a movement. Price, and therefore the trader will bet on a specific currency, anticipating that its price will rise. Timing is also very important because it is also not possible to accurately predict when this might happen. There are certainly differences between them, but they can be classified under the category of gambling.

There is another rule whose importance I would like to stress: "Not Your Keys, Not Your Coins".

From some of the precautions suggested above I would agree with your opinion that we should not ignore or even forget other precautions that are no less important which as you said it is "never bet with the amount you cannot afford to lose", this is the most important point in gambling because there are so many irresponsible gamblers who do not have the ability to accept the fact of losing which in turn makes them experience emotions and instead put the amount they cannot afford to lose.

Usually this kind of action is mostly done by beginners, especially those who come because they are too tempted by the name of winning opportunities so they put large amounts because they are too confident and hope for victory, even though gambling is full of uncertainties that can make you feel disappointed at the end of the session when everything does not go according to what you expected. Another thing is that I agree with you that trading or investing can also work like gambling because there is a slight element of similarity in that we cannot fully predict price movements which means that there is always a possibility of risk that can occur at any time when your prediction misses and gambling as well as trading is an activity that involves money and also an activity that cannot be accurately predicted regarding the results of its victory so of course this is the reason why we are more advised to only put the amount of budget that we can be responsible for.