Topic: Is trading really worth it? - page 8. (Read 1686 times)

Honestly trading gold on a short time horizon seems weird to me, there isnt much scientific about it. No matter how someone tries to rationalize it. Thats why im meant with putting too much emphasis on TA, because it can give oneself the impression that there is something predictable to discover, when its completely unpredictable in reality. Theres big institutions that can use a lot of volume to move markets. But for a regular person: trying to predict tiny changes in gold solely based on ta seems like astrology to me personally, especially if his strategies dont seem to be working.

Im not a expert on forex, but its definitely not something i would advice a beginner to start in. And especially if no long term strategy portfolio is even being built. I think the basics are missing here and this whole approach seems to be built on weak ground. Basics first, and then a beginner can start going into more challenging trading. Just keep him out of leverage please, so he doesnt run the risk to get into debt for nothing.

Because thats what it is, its just a waste of time trying to predict ultra short term changes in prices better than everyone else, instead of spending time on actually evaluting economics/ ideas/ businesses. Time can be spent more productively with greater returns, both financially and mentally. Sure a lot of money could be made with leverage(less with spot), but lets not act like this is the norm, the same money can be lost quickly again with this approach.

Getting a good grasp of it would really require time and effort which doesnt talk about short span of time and this do involves very long period for you to get engage or to deal with.You cant just learn in a matter of days
or months but rather it would really be a couple of years or something and once you do learnt up yourself then find out that you do able to make or snip out some profits in the market then you can consider yourself to be a good trader but of course this one isnt for everybody yet there are people who do still keep struggling despite of the long time that they've been doing trading.So its up to someone whether they would sustain and persevere with this career.I could really say that it is really worth and could really give out that chance on making it as a living if you could really able to sustain.

@BlackHatCoiner

Let me be honest with you, I have spent over 2 years in trading, I am not a newbie at all and I know the pros and cons of trading.

Trading is not gambling, but life itself is gambling which can make us consider trading as gambling, but trading is not gambling if relating it to casinos and other gambling means, it is just called trading.

The level of risks in trading is as high as in gambling, within a day, a rich man that has just started to trade can lose almost all his money, he can lose millions or more in just a week. Trading is a pure gambling for beginners and it is addicting just like gambling.

For experts, trading is not gambling, it is far better than gambling, the market can favour, what if the market first not favorable and a professional trader is losing. First of all, he used an amount of money he is able to lose to trade, second is that he used a very minimal leverage like 1x to start. Trading bitcoin, he can increased the leverage to 3x maximum (my own strategy and my max) if the loss has increased, just to make the entry price to become nearer to the unfavoured price so the entry price the trader will start to make profit will become closer to the present price. There are many more to trading like that.

Newbies will always lose, it is normal. That is why it is always advisable for newbies to trade with the amount lesser than the amount of money they can afford to lose, because they will lose. Someone can be a newbie trader or not yet become professional for over 2 years as the trader will lose, making the same and different mistakes and later try to amend. For newbie traders, trading is gambling.

If you see the life experience of some traders, it was bad, they lose a great amount of money in just short period of time, it is very risky like gambling because traders will start from the beginning as a newbie and if they use much money, sorry to tell you that they will lose it. Just as in gambling, as they trade more and used more money, they will lose more.

But unlike gambling, no profession in gambling but that may be a debate for some people, but the obvious truth, the more someone gambles, the more the losses. But in trading, traders can still professionally know that they should enter the market at a particular price and also leave the market at a particular price (easy said than done for newbies). Gambling is all-or-none, either you lose all or win all, cashout is not just an advantage, unlike trading that a trader can still believe in his analyses, the trade may not first favour, the market may correct itself and the trader may later make profit. But not just that the trader will just make profit, there are many discipline that he must abide to, he should not be greedy, he should use the amount of money he is able to lose, using low leverage like 1x and he should be able to make use of indicators and sentiments appropriately.

• National currencies. Sells USD for EUR, EUR for YEN etc.
• Plays with spot losses, buy orders, sell orders and the like, with gold.

Whenever he explains what he's doing to me, it feels like a black box. It's like when someone feels he knows what he does, but it is somehow constantly proven that he doesn't. What he wants is to have is a ~3% gain on average, every month. I just don't understand if he deeply knows it's gambling or just thinks there's a "scientific explanation" known as " analysis" that can be used to make money.

He likes being on Tradingview and try to explain what's going on, what are all these things etc. But, why do I feel it's just horseshit and there's absolutely nothing essential?

It takes a lot of sacrifices if you are planning to fully commit in trading and do this for a living, I can say many succeed on this but still many are suffering from a big loss which force them to have a decent job again. Well, trading is risky if you are not confident about your knowledge in trading, don’t do it full time because you can just trade depends on the market trend and your strategy, personally I can say trading is worth it but I can’t afford to lose my job for now because trading is still not for me.

Trading requires a lot of your patience and strategies.
Each coin or project will need a different strategy as they have different progress of developments.
So it doesn't mean that you just jump onboard whenever there is hype or fud.
Without making any logical study on the coin, you will lose without a fight.
It is true that everyday you spend on your trading journey, you will acquire new skills or tips or techniques.

Im aware people use technical analysis for that, but if you held amazon or apple for 20 years for example, it doesnt matter how much ta you did, because you cant beat this. Time in the market beats trying to time the market, almost always. When the macro/ market situation changes ta wont help you much and you might be slow to realize that a change of strategies is necessary, or that old patterns dont apply anymore. Also im questioning the general effectiveness of ta, especially if it means not looking at other factors anymore.

What kind of trades is he doing exactly?

It’s worth it but don’t expect too much if you are still not knowledgeable enough to trade on your own. The risk is high and that’s why its rewarding, because the higher the risk the higher the reward and of course it will always depend on how you execute your strategy. Trading is risky, don’t take it for granted because if you do, you can’t expect yourself to earn some profit. Continue to learn, trading is a never ending analysis the market will continue to move and we should adopt on every trend.

Just an addition: My brother checks no crypto-charts. He prefers Forex and gold. Does the same logic apply there too? I honestly don't know what to say or whom to address to.

And how accurate have TA and charts predicted the situation we're now in?
Have charts and TA predicted the dump when Elon had nothing better to do than tweet pro and against bitoin?
Have charts predicted the slump when Covid hit? Have charts predicted the dump when Russia invaded Ukraine?

Every single time I look at all those "experts" claiming to know where the price is heading I look at their history and see how they were wrong tens of times, with the same logic they use in creating charts after charts after charts.

Guessing the price when it comes to crypto is just gambling, but nobody wants to admit they are just doing guesswork based on nothing.
There is no production capacity, there is no number of rigs, there is no cost for shipping, there is no accurate daily consumption and inventories, and all the data you have when trading oil for example, in cryptos you have nothing! Nothing!

How do you think that trade is analysed, charted and mapped out? Or how do you think forcast or speculation is made? Most are from technical analysis. Technical analysis is what holds the trend more. After news or fundamental (such news in adoption) then the trend forms and continues that way through technical analysis you can know that. Or after news the trend can continue if it is not of high impact.

Definitely worth it i could say basing up with real experience although im not really going to be in full time but i do make it out as a side job or investment on which i do able to make other source of income which do really

adds up more into my current job which is a great or big help if we do talk about everyday living expenses but this isnt something simple that everybody could able to handle on and just like what others been saying above that it do really takes time and effort before you could handle yourself into the market.Traders doesnt really mean that you should go in need to full time which there are traders who do just wait for price to reach up before they do make out such action which means that it doesnt involved active interaction which means that you could still do other things even if you are trading on something.

Trading is profitable and it is basically worth it. I see your brother is serious about trading because he consider it to be his job and he's willing to put his time doing trading. I don't see anything wrong with the decision of your brother since knows the risk, and he's pretty devoted in trading. All I can advise is to see his trading portfolio if how many he has earning on trading these past few months and if it worth the time and effort. But I highly suggest to have a stable job and consider trading as a side hustle since there's a great risk on trading and it's hard to depend on trading when it comes to income flow.

I've been a trader for a couple of years now and I'm going-in and out in trading depending on market situation, Profits were really inconsistent but the profit should be enough for a living. Of course this will depends on the trading skills of your brother.

Really worth it but this isnt something a state which everybody could able to have a good grasps.There are people who are indeed making trading as a living.Yes, it is risky and do really look like gambling but this one

involves analysis and in depth skills and knowledge which could really lessen out the risk but well its not really a guarantee.Losses is inevitable but the main thing you should think about is on how to sustain yourself.
Also, dont anticipate that you could able to make yourself reach that state fast because being a profitable trader does really takes time and lots of effort. Buy low and Sell high might be the basic principle or hearing too be that too basic but executing it on the actual situation is really the hardest part due to market condition which is really very unpredictable and this is where analysis do comes in.

I was once a devoted day trader, though I didn't take it as a profession, but it was my major source of income back then, and I can honestly tell you that it is profitable, but that is if you really know what you are doing, Trading (depending on the type) can be very risky but also very profitable, trading spot is less risky but the profit is always small, as well as the loss when your analysis fails, trading the futures market is very profitable but also very risky as any wrong move will have you loosing all your money, most especially if you don't use stop loss.

In order not to bore you with long talk, i will conclude by saying that trading is profitable, and can be taken up as a profession, but you have to be really really sure that this is what you want and that you know what you are doing.

If we are talking about constant stable earnings from trading, then it is incredibly difficult. When I try to trade on a regular basis, most of the time I get losses. For me, this works with a wait strategy, I wait in stablecoins most of the time and only buy on straits. In this case, very often I make a profit, it seems clear to me, so it works for me. But trading is hard, I wouldn't be able to do it all the time.

Hello BlackHatCoiner],
 Yes! Trading is worth it. There is a big difference between trading and gambling. When you trade with a strategy, the probability of success increase. Since the probability of success is not equal to 1 in trading, some people regard it as gambling. However, if you monitor the market, do your analysis with expert advisory coupled with good technical indicators/ oscillators, you will discover that trading is not gambling. Since it is not gambling, then getting the right tools to trade and making research, learning and adapting to trends and volatility of the market is worth learning. For beginners, it is advisable to learn with just one currency pair. Then when you get use to it, you could shift to others. Trading is worth learning.

Trading is a very unconventional profession indeed, especially retail trading.

I'll say this: it requires a lot of hard-work and dedication and at the end you still won't know for sure you are made for this. One could waste years from his life trying different strategies, markets, timeframes, etc. and still not become a successful (constantly profitable) trader. But with talent and a lot of determination you can become proficient at it and basically print money out of the markets. That is the dream of many, but to get there, oh boy... buckle up for some extreme up and downs. Few survive...

There are several articles and explanations regarding trading.  It isn't as simple as buy low and sell high stuff.  There are lots of parameters to be explored, methods, and calculations to be learned when one is to venture into trading.  Trading isn't a 1 day learning period, it takes years to master.  If your brother wanted to make a living out of trading, then he shouldn't quit his job and just do some sideline trading first, just to test the waters if he is really into trading.  



Unlike gambling, trading can take advantage of price fluctuation.  there are certain methods in Technical Analysis where they can able to calculate and predict several entry points and selling points of the trade. But one thing, trading is not for everyone.

Its about capital, risk management, decision making and having access to information. If you’re not exceptionally well in all of these, just spending time on it wont change anything. That’s why big money is handled by big institutions. There’s some people that can succeed regardless, but it’s never necessary to solely depend on trading before actually succeeding.


Math can’t predict human irrationally and politics, technical analysis wont change anything about that.