Should trading be for the rich? - page 10.

cafter

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Quote from: Stepstowealth on November 27, 2023, 04:44:13 PM

There are people who have learnt how to trade, practiced on demo accounts for long but have not had the money to try trading on the market, and so they have abandoned trading to try search for money first. While there are others who have too little income, that they cannot profit from the market trading, they are always worried about loosing and because of that they make mistakes with their technical analysis and end up loosing the little money they have. Should trading be exclusive to financially comfortable and rich because of how risky it is?

trading is not for everyone but not in financial point of view, because while entering in trading the person should deposit money in account thinking that I will going to lose it all.
by this thinking he will not trade emotionally and will be able to take better decsions, but the profits will be less if he earns less and able to allocate to trading is small amount. it not determine that trading is for rich people.
if he try to learn trading and knew his edge then he can make huge profits with those small amount by compounding.

Fuso.hp

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If trading is done properly then it is definitely possible to improve one's financial condition through trading. One needs to first gain adequate knowledge about trading and learn to understand the market. When a trader understands the market, he starts trading with less money, but later on, he can gradually convert that less money into big money and gradually he can change his financial condition, but in this case, he must spend a long time in trading. For those who have enough knowledge about trading but are unable to trade because of money, I would tell them to never give up because money will come to them at some point and at that time there should be no harm in starting trading. First you need to understand about trading, then you need money. When a trader trades in two combinations, he will get 100% success by trading.

libert19

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One can start trading with $100, risk $5 per trade with 5x-10x leverage, that's decent amount per trade and it doesn't require one to be wealthy.

Mauser

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Quote from: Stepstowealth on November 27, 2023, 04:44:13 PM

There are people who have learnt how to trade, practiced on demo accounts for long but have not had the money to try trading on the market, and so they have abandoned trading to try search for money first. While there are others who have too little income, that they cannot profit from the market trading, they are always worried about loosing and because of that they make mistakes with their technical analysis and end up loosing the little money they have. Should trading be exclusive to financially comfortable and rich because of how risky it is?

No, of course trading should be for everybody and not only for the rich. When it comes to trading and investing it's true that rich people have much more resources and capital to use which gives them an advantage. But, if we never start to trade ourselves, how are we going to get out of our problems and become rich ourselves one day. For me there are only two real options to accumulate money and reach financial freedom, first win the lottery or be lucky in gambling, second start trading and build an investment portfolio that is growing over time. It makes almost no sense to have a savings account at the moment, because inflation rate is more than double the savings rate and we would just be losing wealth over time. Also, trading doesn't really require us to have a certain minimum amount of money before we can start trading. Anybody with a few hundred USD can just start trading and make some money. That is also why knowledge and experience is more important than having money alone. A good trader will always be able to build up a big portfolio over time through his trading profits, whereas someone who is a bad trader but has a lot of money will eventually lose most of his money in trading.

Pandu Geddon

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Quote from: I_Anime on December 04, 2023, 01:55:20 AM

Yeah true that you need good funds to start trading, But what you literally need the most is the knowledge too. Most people have the funds but also lose it all because of lack of knowledge about trading. So even though you don't have the funds now don't stop the learning process as you learning also try and find way you can use in gathering funds. like daily jobs or even some online jobs too. So trading not just for the rich nor the poor alone trading are for those who are determined to achieve their goal no matter the obstacles they may face doing so. But One thing I know trading is not for the weak

it's because they mismanaged their finances for trading. if they are aware that they are a beginner in trading, of course they will try with some small money to practice some of the skills and strategies that they already understand.
However, we cannot avoid losses when learning to trade. Therefore, always start small and don't rush to get big when you are a beginner.

I_Anime

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Yeah true that you need good funds to start trading, But what you literally need the most is the knowledge too. Most people have the funds but also lose it all because of lack of knowledge about trading. So even though you don't have the funds now don't stop the learning process as you learning also try and find way you can use in gathering funds. like daily jobs or even some online jobs too. So trading not just for the rich nor the poor alone trading are for those who are determined to achieve their goal no matter the obstacles they may face doing so. But One thing I know trading is not for the weak

Mame89

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Quote from: Stepstowealth on November 27, 2023, 04:44:13 PM

There are people who have learnt how to trade, practiced on demo accounts for long but have not had the money to try trading on the market, and so they have abandoned trading to try search for money first. While there are others who have too little income, that they cannot profit from the market trading, they are always worried about loosing and because of that they make mistakes with their technical analysis and end up loosing the little money they have. Should trading be exclusive to financially comfortable and rich because of how risky it is?

To be more precise, maybe trading is not for everyone, I mean trading is not a problem for rich people or not rich people but more precisely for those who already have the skills and skills in reading charts and of course are mentally ready. Because without this, even rich people will lose money in trading.

Of course, trading is never smooth, sometimes things don't turn out the way we expect, so we need a strong mentality and always learn from mistakes. If we can control this, maybe our trading will produce good results in the future. A small income for trading is not a problem, because we have many strategies that we can apply, such as using the dca strategy, regardless of our income, we can trade. So it could be said that trading is exclusive to those who have basic knowledge in trading.

crwth

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The thing to emphasize with this is the amount of money a person is trading, fully knowing and accepting to lose. Everyone should be aware that trading, whether it's cryptocurrencies, stocks, currencies, etc., there's always a risk and there's no assurance for that. So before going in to the investment, there should be an acceptance that you can lose money if you make the wrong decision.

If you are talking about the capacity or volume you make per trade, that's a different discussion.

HONDACD125

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Quote from: Japinat on December 03, 2023, 03:53:22 PM

Trading gives advantage to rich people because they have the capability to trade consistently despite of the losses they will gained, that way they can improve their performance level and make them successful traders in the end. However, for poor traders, it would be hard for them to finance their trades especially if they are only earning minimum amount, but if they have the skills and long experience in the trading market, then they will have the edge to win their trades despite of a small capital.

Trading is open for rich and poor, but to be honest, there's always high advantage if you have the huge capital to finance your trades because that will also mean massive amount of profits as long as when you trade with skills and expertise.

It is a fact that the higher the capital, the better the business can be done, but it is not necessary to start the business with a large capital, even with a small capital, you can earn a good profit. If everywhere only people with large capitals do business, then the lesser capitalists will never stand a chance.

Skill and expertise are very important in any trading whether you have more or less capital because in both cases you are bound to lose. There are people who have started trading with less capital and with their hard work and dedication they have turned the small capital into a big one. However, you are right that experience is very important, because this is where the first rule of trading starts.

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Quote from: Japinat on December 03, 2023, 03:53:22 PM

Trading gives advantage to rich people because they have the capability to trade consistently despite of the losses they will gained, that way they can improve their performance level and make them successful traders in the end. However, for poor traders, it would be hard for them to finance their trades especially if they are only earning minimum amount, but if they have the skills and long experience in the trading market, then they will have the edge to win their trades despite of a small capital.

Trading is open for rich and poor, but to be honest, there's always high advantage if you have the huge capital to finance your trades because that will also mean massive amount of profits as long as when you trade with skills and expertise.

Trading with large capital is indeed more profitable, the profit target is a small percentage but can be used as living expenses, and this will be easier to manage psychology, considering that we can trade in a relaxed manner. Another thing is if we trade with small capital, and of course we want to make trading a living, of course this will increase the risk, so many failures are experienced, because the main factor in trading is psychology.

Mr.right85

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Quote from: Stepstowealth on November 27, 2023, 04:44:13 PM

Should trading be exclusive to financially comfortable and rich because of how risky it is?

Asking this sort of question brings the idea of,
Let the rich get richer and the poor get poorer.

Means of making money aren’t exclusive to the rich but then, the poor with a good trading idea or even in business could as well start small or what they’ve got. You’ve got to find means to over come your challenges. If finance is that means, you could find a way to get funded. Information is what you take you where you need to be and you could as well sort that out.

In recent times, we’ve have more ETF platforms coming out of the blue to give traders without capital but have got the necessary trading skill and experience to do put it to work and profit off it in a win - win partnership situation.

If you think your good enough, you could try that and have your trading monitored.

Japinat

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Trading gives advantage to rich people because they have the capability to trade consistently despite of the losses they will gained, that way they can improve their performance level and make them successful traders in the end. However, for poor traders, it would be hard for them to finance their trades especially if they are only earning minimum amount, but if they have the skills and long experience in the trading market, then they will have the edge to win their trades despite of a small capital.

Trading is open for rich and poor, but to be honest, there's always high advantage if you have the huge capital to finance your trades because that will also mean massive amount of profits as long as when you trade with skills and expertise.

alastantiger

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I kind of agree that trading should be for the rich though not entirely for this reason. If you have just 200 dollars in your trading account, it will be difficult to make a lot of money from it than if you have $500k or a million dollars. For traders who are not rich, it means that they need to focus on building up their income level to be able to trade higher volumes. But for rich, it will easy for them to increase their trading capital than for the trader with lower capital.

GigaBit

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No business can be started without money. Again, if you have only money, you can start a business, but there will be no success if you have knowledge. A combination of knowledge and finance is required, especially in investment-related businesses. It is not possible to run this business with just money or just knowledge. Here finances have to be arranged and risks have to be taken. Most of us in the trading business think that it is a get rich scheme. Where investment and trading will be profitable. Trading is not an easy task in reality. It requires a good knowledge of investing as well as trading and a common factor is that there is risk involved. It would be suitable for those who choose trading to get rich if they are well equipped in terms of money and knowledge.

Volimack

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There is no such thing as rich or poor when it comes to trading. All investors know that there are risks involved in trading. Trading is for everyone if you can take the risk. There are many traders who are afraid of losing and it is better to close their trade. There are many rich people who have a lot of money but have little success in business. But the poor man wins big with little and experience is needed here. The poor man succeeds if he is skilled in the market.

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Quote from: Adams0001 on December 03, 2023, 07:39:23 AM

Exactly Trading is for people who are willing to lose money at any time, he doesn't mean anything about the rich or poor, anyone can do it if they are willing to take the risk because in trading you need to put your mind that you can lose money at any time, so even the rich people who trade lose money, it is just about knowledge and practice that make someone succeed in trading, he doesn't mean you need to be rich before taking risk in your life, because you don't know the risk you take can change your story one day, He is just that the poor can't risk more than the rich because they say you should only invest what you can afford to lose, so even the poor start with small amounts am very sure one day he will benefit from it, he just need to be patient and believe in yourself and you will achieve your goal on it, since I don't have much knowledge on trading and I still believe one day I will get what I need.

You're absolutely right - trading success isn't defined by wealth or background, but by persistence and a willingness to learn. Even veteran traders face losses on occasion. What matters most is analyzing your mistakes and continuing to push ahead undeterred.

I agree that with dedication, anyone can find success in the markets. It may demand patience and time to hone your abilities, but if you commit to continuous improvement you can undoubtedly accomplish your trading objectives and the path won't always be smooth, but by regularly evaluating and upgrading your skills, victory awaits.

Adams0001

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Quote from: AicecreaME on December 02, 2023, 05:56:16 AM

Trading is for the people who are risk takers, that has strong will, for them to do whatever it takes just to pursue the trading career they wanted.

Exactly Trading is for people who are willing to lose money at any time, he doesn't mean anything about the rich or poor, anyone can do it if they are willing to take the risk because in trading you need to put your mind that you can lose money at any time, so even the rich people who trade lose money, it is just about knowledge and practice that make someone succeed in trading, he doesn't mean you need to be rich before taking risk in your life, because you don't know the risk you take can change your story one day, He is just that the poor can't risk more than the rich because they say you should only invest what you can afford to lose, so even the poor start with small amounts am very sure one day he will benefit from it, he just need to be patient and believe in yourself and you will achieve your goal on it, since I don't have much knowledge on trading and I still believe one day I will get what I need.

lixer

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Quote from: Tigerheart3026 on December 01, 2023, 10:27:06 AM

i don't see any discrimination here because it's a open for all of like who is poor or rich that's doesn't matter.
it's not an easy for a rich person if no trading experience, on the other hand a poor person can start trade with small money if experienced,
so it's depend on poor or rich people, here knowledge and experienced is more important.

When we use the word poor, we generally mean a person who doesn't have money, or even if they do, it's only enough for them to get some cheap food at least once or twice a day and when a person is in that state, you can't expect him to have money saved up that can be used by them to do cryptocurrency trading, because a poor person can never have savings and one can only do trading if they have all their expenses covered and still have some money that they can use for it.

So, technically, a person who can manage to have at least some savings, even if it's not a lot of money, cannot be categorized as poor, they can be middle-class or something because they get all their essential expenses covered, and then may still have a little money to add into the savings each month and after some years, those savings can be used on something useful.

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Quote from: syedakhlaque on December 02, 2023, 10:59:21 AM

Trading is a difficult and laborious business. It requires attention, study and experience. Earning through trading is an attention-grabbing task. It is possible to earn very well through trading. But there is also the possibility of loss. The question is whether you can become rich through trading. Or not.
So the current situation is that the richest class in the world belongs to the traders & businessman. And trading on the internet is one such field that a person of every walk of life can do it. Bitcoin and crypto trading can be done with very little capital. Even students, women and old and retired people can do online trading. And can be rich too. Online trading has a lot of fun.

Trading is for everyone that are ready to learn how to trade and make profits from the market. We need to learn first become we come and say we are traders. Many people that come here to write one thing or the other are not even traders but will be the first to tell people what to do as a trader forgeting that trading is difficult that what we even think of it could be. Those traders that had been trading for a very long time can attest that trading is more of logic that even strategies. We need to have comprehensive understanding about the market first before we think of trading and analysing the market.

syedakhlaque

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Trading is a difficult and laborious business. It requires attention, study and experience. Earning through trading is an attention-grabbing task. It is possible to earn very well through trading. But there is also the possibility of loss. The question is whether you can become rich through trading. Or not.
So the current situation is that the richest class in the world belongs to the traders & businessman. And trading on the internet is one such field that a person of every walk of life can do it. Bitcoin and crypto trading can be done with very little capital. Even students, women and old and retired people can do online trading. And can be rich too. Online trading has a lot of fun.

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