Gambler vs Trader, Updated 6/1/2021 – With this article, we revisit the current goings-on with the crypto market. For example, we have two very rich noobs of Elon Musk & Mark Cuban joining our ranks now. Noobs is short for Newbies, we call them noobs because often they get turned, like most new traders to crypto. What makes them so special? Well, they are business tycoons but are dumb as butter when it comes to crypto. You can read all about how they are just rich gamblers. Tell us what you think. Just because they have money, does not mean they have brains…
Unfortunately, those rich fools, have dragged a whole new group of uneducated Millenial noobs looking for overnight riches. Of course, soon after the market has a horrible TANK and crushes these retail dumb-as-butter newbies… Nobody asked the key questions like DOGE coin is it inflationary!? Why yes it is and they print 5 billion of them a year! Great racket if you are the developers to have an Elon Musk and a Mark Cuban who don’t know about crypto or how it works to invest in your inflationary meme coin.
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What I would like to know is their profit motive outside of liking Doggy coin, thus, which they probably don’t even know the real name of the coin. Is there a manipulation angle here? If so the SEC should really look into what they are doing trading DOGE because a lot of stupid retail kids can get hurt by their uneducated or even manipulative practices…
Gambler vs Trader… Trading is a serious thing, but that’s no reason for us to take things too seriously at all. Let’s have a little fun here, while we wait for the next good setup to come! Once we pulled the trigger, pushed the button, hit the gopher, or to put it simply have put or call chosen, we sit there and watch our trades. Let’s compare the difference between a gambler and a seasoned trader.
What happens 60 centimeters in front of the monitor while a trade is running? Have fun! The story of trading has two faces. One can just try to be lucky and gamble or beat the game with knowledge.
Gambler vs Pro Flow Chart Below:
Gamblers’ imagination of themselves after the first deposit at Binance:
How they actually look after their first sessions:
OK – new funds deposited! Let’s martingale our way to success.
Gambler: This really looks like a call to me!
Pro: Hmm, I’d take a look at the charts. For me, this looks like Gopher BoP.
And the price goes in the favorite direction for the Gambler, yieeehhhhaaa
And the price goes back to where it was before:
And it drops…
Wow, price goes back up – what a luck for the Gambler!
Whilst that, Pro was on toilet and looks in the dressing room after his wife:
Then, all of a sudden, a tick in front of the finishing line, a hefty spike…
Gamblers are losers who you should avoid in trading! Thus, they only bring misery and results much more like drug addicts do. Gamblers are just a different type of addiction and here are 5 ways to avoid becoming a victim of gambler psychosis.
- The first rule of investing/trading is never to invest what you can’t afford to lose.
- Understand in trading the worst enemy you have is yourself, like with all new endeavors you will have a learning curve and what you don’t know can hurt you in trading.
- Emotions are the enemy, emotions cloud judgment and stop you from seeing the truth of the market.
- Know that nobody can predict the future and don’t spend your time trying to become Nostradamus or Miss Cleo. Those who seek only the future forget to see the past.
- Educate yourself and watch different groups & traders, as knowing is half the battle!
These are only a few of the many things you must learn to trade well. In the end your focus always will be to make more than you lose, most gamblers do the inverse and spend their time scraping up cash for the next emotional, uneducated, self-destructive run. These gamblers often beg borrow and steal to trade their next Binance or Bitmex account fix, dreaming/hoping/praying instead of learning to take it slow and grow.
Gambler or sad wannabe trader?
Very sad that most wannabe traders do the opposite of what they should by not starting small and growing as a part-time or even a hobby. Instead, they take all their savings and look for 100x leverage on Bitmex and spin the wheel!
Groups like VCT or Coin Observatory and many others on the site focus on teaching their users about how the markets work, as well as how to take advantage and grow the balance in your trading account. Be it stocks, commodities, ETFs, Bonds, Forex, Options with Robinhood or etc, you pick the exchange because it does not matter. Every asset class may have its own little nuances of which they trade, but you as a trader need only to look at your account balance to see how much you are learning about the market.
Don’t throw your time and money away by not learning how to trade correctly. Dice rollers are a dime a dozen and they usually don’t last long and a year after, they seem to disappear. This happens because trading is not gambling and there is no luck involved. Trading is a skill and is a very very competitive field to advance in. So a trader should take the time to do it right and respect the market, as you get what you give.
Trading vs Gambler Psychology
Developing trading psychology is so important, but not often mentioned because most traders are unaware of it. Professional trading houses and firms usually have staff on hand for traders who deals in psychology alone. If you ever watched the TV show Billions, then you know how important the effects of this are. It definitely takes so much effort and many years to eliminate or at least keep at bay for some of the negative effects of poor trading psychology. It always will show up in your trading performance and ultimately your account balances.
I often wish I could eliminate all the negative ideas that many newbie traders have as they are always trained wrecks in search of a mountain or other solid body that is much bigger than them, in which to crash head-on. Also, Ego is so involved in trading, especially at the start that normally, to even mention the above things, for a newbie train wreck, well, it is pointless. They want to speed through and always think they know best.
I have the best indicators! I am very smart and can calculate what is going to happen! The list goes on and all I see are the same people heading at high speeds for a WALL to end their fantasy. Trading is not a fantasy it is a skill a job and hard work. Anybody who tells you it is easy and all you need is this magic indicator/system/bot is trying to sell you something. Don’t be a SUCKER! If you want a fast resolution why pretend you are a crypto trader? Just go straight to Vegas or buy a scratch-off lotto ticket instead.
Don’t delude yourself into thinking you can beat the market, as nobody beats the market. They only beat themselves. So keep that in mind the next time you fire up your BitMEX crypto margin account and go 50x or 100x or whatever damage lever you are looking to push up and down.
Pro traders will never complain about fools who help them make money. This will always be true, there are firms that spend all day clipping degenerate gamblers out of their coin in one form or another. It is especially brutal on margined trading platforms like Bybit, BitMEX, Derabit and on and on, the endless exchanges that make their living off dice rollers. If you wish them to get your money, feel free to Join Now! They are waiting with open arms lol.