Wisdom  for the Investors :

If you don't study any companies, you have the same success buying stocks as you do in a poker game if you bet without looking at your cards.
- Peter Lynch

and wisdom for the Traders:

"If you don't study technical set up of any stocks, you have the same success trading stocks as you do in a poker game if you bet without looking at your cards."

An investor is usually a “buy and hold” types. He lives on hope. He buys a security and hopes that the price will go up. He does his “fundamental analysis” (whatever little that he does)and falls in love with his/her investment. Even when the price of security is going down, he doesn’t believe in selling it because he is convinced about his analysis. He doesn’t believe in timing the market but a strong believer in “valuation” and “growth” of companies whose securities he owns. If his analysis turns out to be true, he makes money in the “long term”. Otherwise, he ends up losing badly.
A Trader is usually an “opportunistic ” person who believes in inefficient market theories. He believes that markets are driven by human emotions like greed/fear and due to demand / Supply. No stock is fairly priced at any point of time. He tries to take advantage of these mispricing and profit's from the excessive “greed” and “fear”.
A trader always uses “probability”. He never uses words like “should” or “will”. He know's that no one can predict the markets and he never even tries. Like the markets “will” do this or the markets “should” do that. It is always, something “may” happen or “may not”. Trader is always optimistic that a trade might work out but turns into a “realist” when it doesn’t. He changes his opinion as many times as the market changes its direction. That’s how he always manages his risk and believes in cutting his losses. Traders take ‘directional” bets and also use some “leverage” to enhance their returns. Traders also use “market timing” techniques to get an edge in the market. 
Usually when we hear the word “trader” we start thinking of “short term traders or intra day traders” who buy and sell 50 times in a day.Contrary, Swing trading last for 5-7 days, Position trading last for a month and long term trading often last for 3- 12 months. So difference between a “trader’ and an “investor” is not the time frame but rather the difference in their thinking, approach and attitudes.
Next are category of people who calls themselves “investors” or “traders” but are actually gamblers. They say that they are in the markets to “make money” but actually are in the market “for excitement”. They treat markets like a “casino”. They DO NOT have any EDGE in the markets.
They look for new ideas everyday, they buy and sell lots of securities everyday. They DO NOT understand risk! They get on a “high” when they are winning and then they start to over trade. This results in heavy losses and they get into “depression” when they lose money. In order to “recover” their money, they double their bets and lose even more! In the end, they lose their money and confidence.
So, simply put.....
If you are only interested in Buying / Selling and your profits - you are a Trader.
If you are interested in understanding the "Business" of the company AND invest in the business of the company by doing "Fundamental Analysis", you are a Investor.
However, if you are not interested in either and the hard work the above requires but simply wants to become rich very quickly - you are simply a Gambler.

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