I have been reading through many of the topics on gambling and based on my knowledge of trading I had to think of something that if people treat gambling the way they treat trading will that increase their chances of success? For instance, will chances of success increase if people choose to bet on specific outcomes in the game as the game is on rather than the result of the whole game as many gamblers usually target. I think it will be easier to guess some specific outcomes in a game when you see how the game is progressing. What do you think of this?
Gambling is a game of probability and trading is based on changes or movement in the market. Even though they have some similarities technically they are not really the same. Applying the same strategies in gambling to trade would only make lose. Remember that anyone can gamble without having understanding anything but not everyone can trade. Their differences outweighs their similarities by far
Yes, people should understand these clear differences between these things, trading and gambling are never the same thing, but those who have such a mindset that trading and gambling are same, they will definitely always face losses and disasters. To be successful in trading, you need market analysis, technical knowledge and strategic thinking, and if you do not know everything related to trading, then you cannot expect good results from it. So there is no point in comparing gambling with trading, where the two things work in completely different ways, so these things must be understood.