Gambling

is betting on "short-term uncertain fluctuations."

It does not care about trends, does not care about probability structures, only cares about whether the next move is up or down.

Essentially, it is about using emotions, luck, and the thrill to fight against randomness.

Therefore, it relies on uncontrollable events.

Speculation

acknowledges short-term unpredictability but is certain that long-term events will occur.

It does not bet on "whether it will rise," but waits for "when it will rise."

It does not bet on single-point results but bets on cyclical trends and time.

Therefore, it relies on structural inevitability.

The market must have

cycles

trends

emotional extremes

liquidity turning points

Speculation does: wait

Gambling does: guess

The difference between gambling and speculation is: the former bets on market fluctuations, while the latter waits for the inevitable rises and falls of the market. In trading, gambling will not succeed.