Topic: Should trading be for the rich? - page 11. (Read 2344 times)

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.

Between risk and profit, between results or losses, of course, will choose to be big and easy than slow or stuck, demo is getting to know the features and simulation in trading, for me practice is important but not the same in terms of psychology and market segments faced. The difference between the two economic conditions certainly leads to the capital brought and how much is brave to trade.

Small capital can also potentially have profits even by measuring percentage ratios and analysis, of course not talking about multiples of money but accuracy in trading, while even large capital can lose without a trading plan in the entry, session or management of one-time positions, everyone can, for just a few dollars.

I think if there is a serious intention, starting from what we have and what we are good at, capital over time may have a way, and knowledge is a good readiness. practicing patience, calm analysis and capturing opportunities will certainly make trading more fun.

If you really want to start trading, even a small capital will do. But never expect that the process will be all smooth as you will surely encounter lots of trading errors and losses at first before you can reap the sweetest profits. While trading is free for everyone, but not everyone is capable to trade successfully. Lucky are those who can easily provide a good amount of capital, and still not getting financial difficulties despite of the inevitable losses.

However, I bet to disagree that trading is for rich only. Its not and it will never be, otherwise poor traders might not be given good opportunities to trade and change their lives not just for the better but for the best.

Well here's the thing. The first rule of trading is to put the money that you can afford to lose. Now what does this mean? Is it that only the rich has the ability to lose money? Well no! That's not the case. If you earn $100 per month and your monthly expense is only $50, you can obviously use the rest to either save or do something else. Imagine keeping $30 to yourself for savings and $10 for other things. You will still be left with $10. You can lose that money and it won't have a huge impact on your daily life. That's the amount we call "What you can afford to lose".

So no, it is not exclusive only to the rich. It is for everyone. If you think the amount is too low, DCA to accumulate more and then use that for trading. It will take time for sure. Why not use that time to master what you have learn for trading?

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.

It's not for the rich only, I believe it depends on what kind of person are you. Most of the newbie traders thinks that a little capital means little profit, and they don't want it, and that's wrong. No matter how big or little your capital is, as long as you're making profits most of the time, that's what most matter. In no time, eventually your profit will make your capital big, and that's where your big profits will start.

Don't be discourage because of how little profit you could accumulate at the start, trading is not a race, race at your own phase until you get where you wanted to be.

Alternatively if those people can switch to forex trading instead of crypto trading there are Prop firms in forex trading where learnt traders with just some few dollars can purchase a challenge account usually in $5K, $10K, $15K .... $100K where they are expected to pass a challenge of earn 8% profit to pass stage 1 and 4% to pass stage 2 thereafter profits earned would be shared between the trader and the Prop firm in ratio 80:20 I think this is the best way a very good trader can test their ability and mettle, I believe this means is better than trading with a very high leverage in cryptocurrency trading because of the high risk.

Exactly...trading require some money to start it, but you don't have to wait until you're rich to begin trading. People with ample disposable income still have the right to trade, but they have limited opportunities for the purchases and sales they make. The amount of money you have doesn't really affect the percentage of profit when taking gains, but it does impact the total amount earned.

Imo... its not bad for anyone who wants to learn trading and start trading with the money they have, even if it's limited. As you gain experience and master the skills, you'll level up over time when the money you have grows with the help of your trading activities.

Controlling small amount of money into then to be large sum of money is an economic success, so never be afraid to enter trading even with just a small amount of money. The important things is how to make this money growing.

If they really want to trade there is no big deal there, if they can affordable 10$ then they can use it to start real account trading but I must tell them. Practicing with demo account is different from using a real account so they should not use big money at first in the real account, but they should use small amount to still practice from the real account before going into deep.

Many people have done this mistake plus me. We thought that the way we trade in demo accounts were the same way can be used in real account but it soak us. I lost a big amount of money. And it pained me. So I don't advise new traders to just start with big amount but small to still test your skills.

It is not for the rich. It is for anyone that can afford to trade. As long as you have some money lying around, you can use it to trade. But never risk the money that you will need, because since the crypto market is unpredictable, any wrong move or event might cause you to lose all your money. There are people that does full time trading as their 'main" source of income, but I am sure they always have a backup plan to pay their bills. So trading isn't exclusively for the rich people but for those that are financially stable.

Trading is basically not for the rich alone, one thing i came to realized in this trading aspect is that, you need a backup source of income, lets say you know how to trade the market yeah, now you should have a backup business that will support you financially even if trade doesn't work out for your lets say your analysis keeps being the one thing that makes you loose money to the market, now that backup business you own separately can help you recover from the loss mentality. even if its not business tho a back up job that will do because yeah trading involves money, lucky enough those with the SILVER SPOONS in their mouth are the ones who gets not to lament or worry too much when they have losses in the market.

Effort is the most important thing for a person, if there is effort, even a person who is not financially well off can succeed in Bitcoin trading. Start small scale business and slowly try to take that business to big scale. It is not written in any business rule that you have to start a business with a large amount of money, but if you have an idea about business, then you can get success in business even by starting a business with a small capital. You say many people can do business in Bitcoin because of money but I have seen many Bitcoin traders who have sold their hobby or given up their hobby to invest in Bitcoin. You have to sacrifice something to get something, you don't have money to trade but if you don't sacrifice something then you are not perfect for business.

but still its gonna be hardship for many people that are not necessarily rich or even below the middle class earning since trading peanut amount means you only get peanut profit which also means that you are quite literally just wasting your time.
this is why sometime trading preferable for those that already well off since they usually have bigger capital than the general population though indeed even the poorest people could start trading by saving but then again would they have the adequate skill if they rarely exposed with the real world practice of trading since their capital is kinda low? i don't know about that but I guess when even people with well of economic situation are struggling making profit with trading other might also find it difficult to make profit because we all know that making money by taking advantage of margin sometime just really hard to do.

Trading can't be only for the rich, anybody can start trading it does matter if the person is rich or poor. Their is no specific amount to start up trading, people can decide to trade with any amount they can afford to lose. The money you can use in starting trading doesn't really matter. What is very important in trading is understanding,  when people learn trading very well and understand it, it is very possible for profit to be made no matter the amount they use in starting the trading. Understanding is the most important thing in trading and not the amount to be used for trading,  without understanding even if bog money is used in trading it is possible for one to lose all the money.

It is just to note that some of us have some limitations as well. I don't say that trading is for rich people only but it was just for those who were capable enough to spend and lose their money. It is important to understand that trading is not for everyone, why force ourselves into something that we are fit for it? For poor people, the only way to get in and start trading is to have some savings as well before we start at least we have some backup money. It is not impossible on their part as long as they will find a way but not in the way of taking loans.

Gambling for the rich, trading for the rich, maybe an unpopular opinion we'll see is about malling is for the rich and even eating delicious foods are for the rich? This is the reason why we always see inequality in our society and it's more favorable to those who have money. Because we think that it's always available for the rich but not for the poor. I'd believe that when someone say that they're poor, they literally are poor and have no money at all.

But do you believe that they're going to stay on that situation forever? While I do get that someone might just struggle for having no money and wanting to get into trading. However, let's not make it that the poor has always been unfortunate at all especially on these matters that requires money. If someone who is poor and really wants to get into trading, he'd do something about it.

He'd grind himself maybe for so long and save money as a start. Although I don't advise people to do that immediately because he'll just lose it for his first tries. But someone who would do that will never experience and learn the lesson. The point is, the rich and the poor have the same opportunity in trading but, as starting out and for lasting, the rich has got themselves cover while the poor has to grind and no one stops the poor from trading.

If you ask me that question then my answer will be no trading is not only for the reasons rich persons. But I will also say that trading is not for everyone. So here a question must come that crypto trading is for which persons? There was an easy answer that is trading is for those peoples who have knowledge about trading. There are many people who went into trading without knowing well about trading and without doing proper analysis and later faced huge losses. And finally many of them spread various fuds about trading by admitting their mistakes less to people in different ways.

Certainly not. Trading is for everyone, although not everyone is capable to trade. However, we can't deny the fact that rich people have the advantage in trading because they have all the opportunities to trade again and again to perfect their trades despite of the inevitable losses, while leaving poor people limited funds to trade because of their poor financial status.

Apparently, trading is fair with both poor and rich. But if you have higher experiences with trading in the market, most likely you will gain best results in trading while leaving those novice traders struggling to win their trades.

Logically, if I am financially comfortable or rich, I will not waste time trading.

There are no rules in trading that are only permitted for rich people, or solely made for rich people to increase their wealth in trading, it doesn't exist at all, behind the scenes we don't know whether people are rich or poor when carrying out trading activities and there is no confirmation. also that rich people have more advantages in trade.

It doesn't matter whether you are rich or poor, everyone can access trading, but they must have good personality fundamentals, I saw my friend doing trading activities with initial capital of $10, until now he can make thousands of dollars in one month, but the process is not easy, you have to crawl and don't be greedy.

That's definitely a clear difference I would agree without a doubt. If you are holding bitcoin then I agree that there is no "held for too long" because the longer you hold it the more money you will make, and of course there will be periods when it goes down during the bear market but that doesn't change the fact that you are going to make a great amount of profit with it given enough time.

I think it should be a bit of a bigger deal to handle all of this when you know what you are doing, and that is why it's clear that people should be aware of their own talents. I get that it may not be simple for alts, and yes there are few good ones like ETH for example, but when you are holding those, that might become an issue and you should get out at the right time. Bitcoin and every single alt will be different in that regard, holding alts for too long may cause a lot of trouble for a lot of people and they should be careful on what they are doing.

Trading is for everyone. Otherwise, low liquidity results