Trading is gambling- Only if you make it gambling

Tokenz said:
That is indeed true. But, part of the reason I started with Bitcoin in the first place was to see the people have a currency that wasn't tied with the government that was also annonymous.
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Yeah, but suppose BTC is trading at $50 for the last 10 years, hardly moving and nobody ever gives crap about it, would you still have invested? I don't think so. All that rationalization on why you invested means nothing in lieu of price appreciation. I wish everyone would just 'fess up: they're in this for (and only for) money.
 
schizo said:
Yeah, but suppose BTC is trading at $50 for the last 10 years, hardly moving and nobody ever gives crap about it, would you still have invested? I don't think so. All that rationalization on why you invested means nothing in lieu of price appreciation. I wish everyone would just 'fess up: they're in this for (and only for) money.
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Yeah that might be true. But part of the reason why Bitcoin is at the price it is today is because I bought it early. Without me, Bitcoin might be lower a few cents. And I bought not knowing if it's going to go up or down, because that was part of the risk I took. And I bought at a time when there was a bunch of FUD in the air and everyone was saying "Oh, look! Bitcoin is on a downward trend! Better sell now before it goes to zero!". So you can say that yes, I bought and helped Bitcoin get to where it is today, even though I had hopes of making a profit. It's because of small retail investors like me, that Bitcoin is where it is today.
 
Tokenz said:
That is indeed true. But, part of the reason I started with Bitcoin in the first place was to see the people have a currency that wasn't tied with the government that was also annonymous. And as much as I would like to see that come true, crypto has gone down a completely different path that is now working with the government. And even though it has gone down a different path, my dreams of watching it get adopted as well as making a profit are still proving true. So I've learned to just accept it for what it is. An investment asset that can also be used to send money for cheap.

I'm more of a investor that buys into only what he believes in. All my investments are long term holdings of what I truely believe in.

I take that back, Shiba Inu is an investment of mine that I don't believe in lol
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I operate much the same way.

What grabbed my attention first was the ability for lower economic communities to move beyond barter and local only transactions.

I still believe that the peer to peer/bankless interface can transform these communities,even enable some to potentially break the cycle.

And to agree with Schizo,as much as I would like to sound altruistic,I mainly see this as a high speed lane to greater adoption and therefore greater demand.
 
PennySnatch said:
Guessing is just the word I used to reflect the uncertainty of any one trade as you can not know with absolute certainty the outcome of any one event (trade). The "getting better" part is seeing an increase in the quality of your guesses over a series of events as discovered through back testing, forward testing, live trading, stats etc. You put 3,000, 5,000, 10,000, 50,000 serious hours in the charts you will get better at guessing.
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Thank you for the explanation. You are not guessing, you simply applying your logic to a probabilistic equation.

What is troubling me, I am really "guessing", I cannot quantify my guesses and if/when my guesses stop working, I don't know how to fix something I can't quantify and cannot understand.

That is my day trading dilemma.
 
semperfrosty said:
I operate much the same way.

What grabbed my attention first was the ability for lower economic communities to move beyond barter and local only transactions.

I still believe that the peer to peer/bankless interface can transform these communities,even enable some to potentially break the cycle.

And to agree with Schizo,as much as I would like to sound altruistic,I mainly see this as a high speed lane to greater adoption and therefore greater demand.
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Yes, and the fact that poor countries have another method of sending money to family and friends is another reason for me as well.

I believe since the idea is out there, that there will probably be another crypto token that really will be annonymous that can get through government sanctions and be untraceable. But time will tell. I love the idea of being annonymous but I also don't like the idea of terrorist financing. I guess you can't have it both ways...

Bitcoin pretty much is already adopted, same with Ether. All they can do from this point is grow.
 
Crypto is too complicated for me to understand, the new crypto lingo is out of this planet.
All I know is it swings wildly huge amounts, that's all the incentive I need to get involved.
I love it because it moves and has liquidity, not because I believe it has global merit to beat inflation or any other romantic tale.
My trading focus is always on hottest stocks in hottest sectors and crypto meets that criteria.
 
themickey said:
Crypto is too complicated for me to understand, the new crypto lingo is out of this planet.
All I know is it swings wildly huge amounts, that's all the incentive I need to get involved.
I love it because it moves and has liquidity, not because I believe it has global merit to beat inflation or any other romantic tale.
My trading focus is always on hottest stocks in hottest sectors and crypto meets that criteria.
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also real time around the clock data is free
 
Everything that you do in life is a gamble.

There is a probability that you die in a wreck on the interstate every time that you drive your car.

You could just have a long-term investor outlook, and just focus on your job and family, and save and contribute to your 401K retirement plan but then one day a mysterious virus from China hits and shuts down the world and crashes the market and it forms a chain reaction in which you are on the brink of losing everything.
 
Motivator said:
Trading does not have to be gambling. As a trader, I make informed decisions based on various information. That said, I can exit a trade with a minimum amount of discomfort if it is not producing what I expect. Think of a trade that is going the wrong way as an employee in your company that is not doing his job so you dismiss him.
Gambling- the futures are up big so you just start buying tech stocks at the open.
Gambling-a stock is sitting just under the 50 dam and you think today is the day it explodes to the upside so you buy it. I would wait until it breaks above it and wait for some consolidation first.
Gambling- stock xyz dropped 20 points in 3 days and its due for a bounce.
I look for daily set ups based on patterns and also a strong analyst report on that stock never hurts. the set up with a stop loss.
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Good Morning Motivator,

I do not think trading is gambling. I am not sure what trading is. I just do the best I can with what I have, and make money.
 
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