Why I think trading is no different from Gambling!
Why I think trading is no different from Gambling!
well am no fan of Gambling, due to my experiences in the past, I decided I would quit gambling.
But just few months after I quit Gambling a friend of mine introduces Trading. I mean I was captivated. I really wanted to make money.
I wasn’t really schooled in trading but i just followed what the others did , but along the line I’ve just realized that it is seemingly not different from gambling considering the fact that I’ve lost a lot of money.
Please, am I wrong in looking at trading this way?
When it comes to crypto, you’re absolutely right, trading is no different than gambling.
With the exception of BTC and some other major coins, price movements are 100% based on speculation, and you have about a 50/50 chance of winning or losing on any given long or short trade.
The only difference is with trading there isn’t really a “house edge”, other than the trading fees, which are usually pretty miniscule. Your only hope to distinguish the two would be investing in long-term conviction plays, i.e. stuff you think will increase on the future based on not only future momentum but actual technical merit as well.
Good luck, and just don’t let yourself get margin called! Stop losses are important.