Topic: Is trading really worth it? - page 6. (Read 1686 times)

Firstly it's not something you do for job or for a living, one very sure thing I have to tell you about trading is that trading involves huge risk,  you can even loose the entire money used in trading and can equally make huge amount of money but this is when you know and understand the the market behavior , fundamentals and technical analysis properly with risk management and avoid being greedy in the market.
These things are what you have to take home and ask your brother if he's aware of all this stuff before he finds himself involved with trading because he is going into an unpredictable market that is volatile.

This is not right for every human. I mean not everyone just goes out there and studies and learns how to trade and gets a great job. I personally feel like I am a decent investor, do not consider this as a big deal, because it is really not since I am not rich, but I am in no means a good trader and I have been here for a long time.

It means, there are some people who will work hard and become a great trader and they will make their living based on trading, and there are some people like me, who will work hard all their life, and just work a salary instead. This is why I believe what you said is right, but not all the people who are interested in crypto.

If your brother treats trading as gambling, then this is one of the red flags that he should not engage in trading, since sooner or later he will lose his money. If he takes his chosen occupation seriously, he must learn to trade in such a way that it will bring profit sufficient to meet the material needs of the family.

Op needs to go check the history of trading so he can see those benefits he can get if he eventually becomes a good trader. Trading is can be taken has a career and those who are spending time to learn the art of trading are benefiting from it. Learning is paramount to winning and those traders who had taken there time to learn trading without thinking of quiting are having a great time with it. There are traders that are taking trading as a job and they are really enjoying it.

I'm sure yes. Trading for work is a rather interesting option, and most importantly, it can bring good results.

Trading will only worthy if you're serious about it, if you're willing to spend a lot of money just to gain some experience before gaining a lot of profit in the long run. It will be a long process, and that needs patient which is hard to give on something if you're not committed to it.

I wouldn't recommend it as a full time job if you're just new to it, because you do work and trade at the same time. It's important to have another source of income just for backup.

Yes trading can be profitable as long as you are good at it or being lucky many times. If you are unexperienced and think it's an easy way to get rich, the chances are very high you are going to lose money. Since you have no background in reading I will try to simplify things a bit. Think of traders in the market as a zero sum game, for one person to make money someone has to lose money. So on average you would have 50% of the traders making money, and 50% losing money. It's a bit more complex than that because there are fees and transactions cost to consider. As a very good trader you can make a lot of money. How much experience has your brother in trading? If he did it a few years successfully he might be able to do it for a living, but without any experience I think it will be hard to cover all his living cost. Also does your brother has a decent bankroll to start with? Starting from zero can take some time to build up an portfolio.

I honestly believe that the best thing to do right now would be getting further away from trading itself, and learning to trade is a lot better if you are a newbie. I personally never found trading to be worthy of my time, still do it because it's "fun" but that's about it. I made a lot more money by being a longterm investor than any money I made during my trading times.

I have to be honest, I made a ton of "profit" in trading, but if you add all the losses I made as well on top of it, then it becomes not that much of a profit at all. So, if you can make 100 bucks profit from trading but 80 dollars loss, it's better to make 50 dollars long term investment profit instead.

I tried various options for working, and I can say that trading turned out to be quite a good option for me. If you approach the work correctly, the result can be quite positive.

Taking trading as job can't go well for everyone,  especially newbies who don't have experience about trading . But as far those who have been into trading for a while,  with their experience and skill it is possible to consider trading as a job. No matter how good one can be in trading it very risky to consider trading to be a job, trading is always unpredictable that one can't tell what trading out come will be( loss or gain). It is better to get another source of income and make trading a second hustle.

This isnt something that you could really directly able to learn on point but it is really free for everybody to get engage and outcome and results would really vary on how much effort and time
you do really put out.You cant really just able to gain that learning and knowledge and get the skills which would really be sufficient on your trading career but somewhat it doesnt really necessary
for you to go on full time which you could also able to snip out and hold for long  term.There are different kind of traders and its up to you on which one you would really be following depending
on the situation in speaking with time and effort you could possibly able to give.It is worth it once you do find yourself making some profits and able to sustain in longer runs.

Trading will always be worth it but you have to acquire knowledge of how it works. It's not as simple as you think because it's too complex to understand. It's not for emotionally weak people and not passionate about doing it. It requires willingness and patience. You have to train your mind and emotions because you must have the right mindset before entering it.

If you want to do it, then you need to do with full dedication, in that way you can achieve something.
I don’t wanna give you false hope, but let me tell you about the honest phase.
According to me on trading you should not completely rely on. I mean you can do it as a part time but yes doing it full time might not that be fruitful.
There are many traders who are doing it full time, but yes that came with many losses and many sacrifices by them.
I can suggest you that ask your brother to do P2P deals that is buying and selling Bitcoins simultaneity in a big amount.
Like this he can easily make 50$ a day.

The thing is that to log a few hours of trading a day. each day you have to sacrifice something else.  So I think a useful question to ask yourself is what are you willing to sacrifice to find out IF you can make it in trading?

In 5 years with a few hours per day you can become a master in many things. It is mostly a matter of choice.

I think the "worth" it part of the deal is the fact that that trading could turn out to teach you a skill that could allow you to make a living maybe like few hours a day for your life. Would that worth it? Of course it is, it is a talent/skill you could use for all your life, just do like few hours a day and eventually you will be great.

Nothing becomes a talent overnight, so you need to study and do it for many hours before you could be great, and that means we are going to see all these people giving up before they become a good trader. But if you start, and work hard to be a great one, in 4-5 years you are going to be a master of it, and earn good enough to not work anywhere else.

Gold is an asset with less volatility, I have not traded it before, but I know the market can not be manipulated with over $10 trillions of gold market worth. I can only guess that the less volatility makes it suitable for people that are rich because using small amount of money to trade gold is not worth it and over leveraging is not advisable at all. I do not know much about it but I do know that some people prefer to just hold it which is perfect than holding money in bank.

But regardless of what a trader is using to trade, they should use the amount of money they can lose and not affect them.

Forex is good too,  fundamental analyses can be more used to back technical analyses in forex, fundamental analyses in crypto is not as much as in forex just like you said it, but in reality, I have seen people that trade forex and lose great amount of money, I have seen people trading forex for years but they were not able to even buy a small car from it. Comparing forex with crypto may have more fundamental bases but trading generally is risky overall, that is why experience matters the most.

Crypto trading is more than that, but you are not wrong because we can see how people were making money in the bull run time and we can also see millions of dollars liquidated during the bear market. An experienced trader that is devoted with crypto trading, using the right coins like bitcoin, ether or litecoin and not shitcoins, they can still use technical part of analyses to make money, but they should not be greedy and using a very low leverage like 3x below for bitcoin. I prefer 1x.

you Won't get a convincing answer Everyone will answer you through his experiences, but in general, the more experience you have in trading, the more you will be able to make profits with the least possible effort, and therefore it is impossible to rely on it as a source of income for beginners or young people who do not have enough capital.
The more experience you have and the more your capital increases, the better the return will be from the job, especially in poor countries.

What do you mean by trading levels, whether to master technical and fundamental analysis or increase profits on each trade. Because it would be very easy to set up a SL/TP. The obstacle is panic, psychology when prices fall and when prices are too high, there will be a lot of FOMO. When trading according to the strategies and rules that have been made, without any hesitation, it requires strong psychology.

Trading is really worth it when getting more profit, but on the other hand if the trade keeps losing then the trade will not be suitable and not profitable, Depends on the ability of each trader.

If you understand how it's done and what are the advantages of it, then surely yes.
Every trader needs a set of rules and once he masters them, then it's more of robot work as compared to the human mindset.

I would love to achieve that level of trading in my life. When you set your orders with SL/TP in advance and don't care where the price moves.
Also, when the price hits your target price, it's a blessing.

Based on the OP's statement his brother studied that beforehand so at least his brother didn't enter into trading with zero knowledge.
But making trading especially in crypto as the main job may be very different if trading in forex or other than crypto, crypto is full of surprises and speculations, everything will run smoothly when it is bullish but when the opposite situation will be very difficult the price goes up there is bad news it will go back down even below predictions even the words of someone famous through social media can affect the market and this always happens in crypto, but there is no harm in trying as long as you are able to bear all the risks that arise.
And a demo account won't be very helpful because the pressure is different if using real money, the demo account only helps to learn the features of trading on the exchange, this is my opinion.