Trading can be divided into two broad categories: gambling and elite performance.
Gambling in trading refers to a style of trading that is based on luck and chance, rather than sound analysis and strategy. These traders typically have little or no understanding of the markets they are trading in and make decisions based on gut feelings or tips from others. They may also engage in high-risk strategies such as day trading or margin trading.
On the other hand, elite performers in trading refer to traders who have a deep understanding of the markets they are trading in and use sound analysis and strategy to make informed decisions. They have a well-defined risk management plan and a clear understanding of the potential rewards and risks of each trade. They also tend to have a long-term perspective and a focus on capital preservation.
In general, elite performers tend to have a better chance of success in the long run compared to gamblers as they have a clear understanding of the markets they are trading in and have a well-defined strategy, while gamblers tend to make trades based on gut feelings and lack of understanding of the markets, which increases their risk of losing money.