Gambler vs Trader 5 ways to avoid being a loser!
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 looks after their first sessions:
OK – new funds deposited! Let's martingale our way to success.
Gambler: This really looks like call to me!
Pro: Hmm, I'd take a look on the charts. To 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! They only bring misery and results much like drug addicts do. Gamblers are just a different type of addiction and here are 5 ways to avoid from becoming victim to gambler psychosis.
- The first rule of investing/trading is never 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 judgement and stop one 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.
Very sad 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 that focus on teaching their users about how the markets work, as well how to take advantage and grow the balance in your trading account. Be it stocks, commodities, ETFs, Bonds, Forex, Options with Robinhood or FTX etc etc, you pick the exchange, because it does not matter. Every asset class may have their own little nuances of which they trade, but you as a trader need only 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 they often don't last long and year after you they seem to disappear. This is because trading is not gambling and there is no luck involved. Trading is 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.
Developing trading psychology is so important, not often mentioned because most traders are unaware of it. Professional trading houses and firms often have staff on hand for traders that deals in psychology alone. If you ever watched the TV show Billions, then you know how important the effects of this are. It honestly takes so much effort and many years to eliminate or at least keep at bay for some the negative effects of a 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 often train wrecks in search of a mountain or other solid body that is much bigger than them, in which to crash head on into. Also Ego is so involved in trading especially at the start that often to even mention the above things to a newbie train wreck, well it is pointless. They want to speed through and always 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, FTX, Derabit and on and on the endless exchanges who 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.