Should trading be for the rich? - page 7.

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Quote from: Issa56 on January 22, 2024, 04:36:54 AM

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?

If you have tried a demo account and you abandoned trading because you don’t have money to trade, then I think you are not just ready to trade, because you don’t need much money before you will have to trade. I know if you are trading with little capital, then your profit will be kind of small, but that doesn’t mean you should abandon trading, you can just be trading and be building up your capital, and whenever you have more money, you can increase the amount you are trading with. Trading doesn’t stop you from doing other jobs, you just need a few hours or minutes if you want to trade, and you can go back to your job.

Trading is risky, but you just have to manage your risk. When you are trading, one of the first things you should learn is risk management. If you can’t manage your risk, even if you are wealthy, things might not work out well.

Trading doesn’t give us instant big profits. In fact, even if you trade with big capital, that will never guarantee a big profit as well. You might even suffer losses at firs, but that is only normal for beginner traders. Eventually when you developed your skills and working strategies, regardless of your amount of capital, you will surely make a positive trade.

It takes some time to manage the risk in trading. There may be lapses at some point, but when you continue working on it, you will end up managing its risks well.

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Quote from: Issa56 on January 22, 2024, 04:36:54 AM

If you have tried a demo account and you abandoned trading because you don’t have money to trade, then I think you are not just ready to trade, because you don’t need much money before you will have to trade. I know if you are trading with little capital, then your profit will be kind of small, but that doesn’t mean you should abandon trading, you can just be trading and be building up your capital, and whenever you have more money, you can increase the amount you are trading with. Trading doesn’t stop you from doing other jobs, you just need a few hours or minutes if you want to trade, and you can go back to your job.

Trading is risky, but you just have to manage your risk. When you are trading, one of the first things you should learn is risk management. If you can’t manage your risk, even if you are wealthy, things might not work out well.

Yes, trading is risky. be it for those who are rich or those with limited capital.
I had that experience, when there was a friend who didn't know crypto asset trading. but he had large capital ready to be used. he wanted to trade with such large funds, but I advised him to learn first. he doesn't even have an account on the exchange to trade. although the exchange's operations are quite easy. but still, I told him to study first. because traders don't just buy and sell.

trading with small capital and being able to develop that small capital to continue to grow and improve will be better than trading with large capital but in a short time, everything runs out.
If trading with small capital, just be patient. do it gradually. there may be more time to do market research and analysis.

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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 requires a balance between learning, practice and risk management. It is important to start with the funds you are willing to lose and gradually increase your experience and capital. Trading is far from being the destiny of the rich; rich people always started somewhere, mostly they started from 0 with trading.

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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?

If you have tried a demo account and you abandoned trading because you don’t have money to trade, then I think you are not just ready to trade, because you don’t need much money before you will have to trade. I know if you are trading with little capital, then your profit will be kind of small, but that doesn’t mean you should abandon trading, you can just be trading and be building up your capital, and whenever you have more money, you can increase the amount you are trading with. Trading doesn’t stop you from doing other jobs, you just need a few hours or minutes if you want to trade, and you can go back to your job.

Trading is risky, but you just have to manage your risk. When you are trading, one of the first things you should learn is risk management. If you can’t manage your risk, even if you are wealthy, things might not work out well.

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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?

My opinion is still the same, everybody should be allowed to trade, no matter what their financial status, their knowledge or experience is. Just because someone only has a little bit of money, or only started with trading recently doesn't mean he can't far. A few hundred dollars are fine to make the first trades and start building a portfolio. Why should we only allow rich people to trade, because they have the money? I would say that rich people are even less likely to trade in large quantities, because they are already rich and don't need to take the high level of risk. Having a portfolio for long term investment makes sense, but trading every day doesn't. Many rich people have their money invested in houses, art, cars, planes, ships, commodities and of course whole companies. Do they really want to spend a lot of time making research and trade with most of their money? At least me in their shoes I would rather enjoy life and focus on keeping my current wealth, not becoming even more rich.

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Quote from: cryptodude on January 14, 2024, 12:26:23 AM

If a person thinks that investing will make him rich then he is thinking completely wrong. Because you will never get rich if you can't time your investments. You must first acquire sufficient knowledge about the market before investing. Never again have the mindset that you have to be rich.

You are the one that is wrong in this regard and you are discouraging in addition despite not being right. You should not let your own experience be a discouragement to others, many would try their luck with investment and it would work for them. Also, it seems that you are mixing things together here, trading might be what you are trying to convey as it is riskier, while investment is less risky and it is not the first time that people have been investing and getting money from it, even in a very cheap manner. It also makes them comfortable and rich, while some are extremely rich because of it.

Those who have been very rich through cryptocurrency and other asset purchases will only be looking at you with dismay, even I who started just in 2022 (I mean crypto investment) know what I have made through it in that short time. So stop discouraging others and if you need to learn more, do that, it is better to seek knowledge in case you do not know how others do it instead of entirely condemning everything even when you are wrong yourself.

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I also think that if you have the motivation and knowledge to do business even if you start with a limited amount it is possible to get great success. Many times it is seen that even if the rich have a lot of money they cannot go far due to the lack of proper knowledge. Emphasis on acquiring good skills in the workplace the skills gained from each job will put you ahead of the curve in the next job. Focus on skill acquisition rather than remuneration spend the initial time learning.

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The most important thing about trading should not be the money or how rich or poor the person will be before they start, the most important should be to gather the knowledge needed to be successful in trading. When this is achieved the next step can be to start with demo trading or the amount that they can afford to loose. And this is where this topic comes to play, asking whether crypto trading is for the rich? I think that a trader needs to have a substernal amount to start trading because of the risk of loses, so if lose occures the person will not go bankrupt and quit, instead there'll be some amount left to continue. I don't think that there's any standard amount to start, but then you don't have to have too much money to start either. You can have another job from where you'll be funding your trading capital.

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Quote from: cryptodude on January 14, 2024, 12:26:23 AM

If a person thinks that investing will make him rich then he is thinking completely wrong. Because you will never get rich if you can't time your investments. You must first acquire sufficient knowledge about the market before investing. Never again have the mindset that you have to be rich.

Mate I think it will be better if you are more specific with the kind of investment you are talking about because out there, a good number of persons have actually turned rich investing so it's not a complete idea to say you don't get rich investing, if invest badly and poorly then you are definitely not going to stay poor investing. Good knowledge and right steps help make your investment a good one such that can get you to becoming rich, like you did mentioned the knowledge is quite essential for timing of your investment mostly if it has to do with crypto investment.

Out there are other forms of investment that wouldn't require you been so knowledgeable about the for you to make good profits off them, all you may need with such can be a person you pay to manage your assets and you inturn pay them for their services.

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Trading isn't just for the wealthy, but it requires caution. You can still trade with a modest income, but it's crucial to be realistic about the risks. Manage your risks, start small, and focus on learning. Don't invest more than you can afford to lose, even if you're not financially comfortable. It's for people who have money that they can afford to lose

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Quote from: the rise on January 14, 2024, 03:56:18 PM

from the opinion that I responded to, it's not just comfortable and rich people who have more rights to trade, for me it's all the same, because even comfortable and rich people will be afraid of losing their money, people with a small economy tend to be more afraid taking risks that hamper the skills they have in trading, people with small economies will find it difficult to get up because the first thing they think about is losses

Yes, what makes the difference between rich and not is the capital. However, trading is not only for rich people, but for everyone who has skills in that field. In fact, I have heard of several people who became rich by trading using minimal money. Apart from that, even rich people will not always make a profit in trading. So, trading is only for people who like and are interested in trading. If they have the ability, they can turn the capital they have into a lot of money through trading.

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Trading is for all of us, both the rich and the poor, so the only difference is the mind, if our mind is positive and if we know how to use money properly in trading, for example, a person has 10k dollars if he didn't know how to trade.

On the other hand a person has 1k dollars then he can make 10k if he knows how to trade which time is for buy and sell,There is no difference between the rich and the poor in what time trading should be taken, we just need a method and we can learn trading in any way we want, money has nothing to do with it. I can start my trading even 1k if I have a good teacher for this.

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from the opinion that I responded to, it's not just comfortable and rich people who have more rights to trade, for me it's all the same, because even comfortable and rich people will be afraid of losing their money, people with a small economy tend to be more afraid taking risks that hamper the skills they have in trading, people with small economies will find it difficult to get up because the first thing they think about is losses

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Being rich does not lessen the extreme risk brought by trading, but it can only be minimized if you are a knowledgeable and skillful trader regardless if you are a low income earner. Which means, having a huge sum of money will only add more risk of losing if you are not capable to analyze the market and trade well.

Hence, trading is not exclusive for rich people but certainly for everyone who has the passion and skills to trade. While losing is inevitable when trading, the reason why one should not trade when he’s not ready to lose or when he’s not ready to take the risk in trading.

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Quote from: Bushdark on January 12, 2024, 10:31:43 AM

Trading is for people that can endure the market present reaction we still keep holding and trading. We need to be logical and don't think that the market is just for the rich alone. Even the rich can lose in the market and we know that there loses are always big compared to what an average person could lose in the market. Sometimes not having enough funds can limit our winnings in the market so we need to decide to concentrate and focus on what we keep giving us profits.

It's a fact that one needs capital for trading and as big as your capital is, so will your profits will be. However, this doesn't mean that trading is only for the rich. Indeed, a person who has a lot of extra money can easily venture into trading because they won't need to worry about money, losing, or anything like that. On the other hand, an average person, earning a limited amount each month, will have to spend a long time just to put together the capital that they can use for trading.

So, trading in general might not just be for the rich, but it's a known fact that things can be done more easily when a person is financially stable, and trading is no exception in this. That's why, a rich person can trade more easily and freely than a person earning an average wage each month to run his household.

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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?

I think trading is an open platform where a trader can profit and lose by keeping his profit between buying and selling. After getting training for any business there is no use if a person does not start that business. A person trading with a demo account has no money and quits trading in this regard the person I think could not take the right decision. I don't know if it was important for him to learn trading at that time if he didn't have even a small amount of money. I definitely need capital to start my business. If not, first collecting that capital and then learning trading will be effective. Moreover, trading can be done both small and large capital, it will mainly depend on the financial condition of a trader.

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I think some middle class people can also do it but, the risk is greater because their amount of money is smaller, trading is about managing the mind and mentality, because the mind and mind can be affected if someone trades in a hurry or they have to earn money every month.

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We all know that investing in any business involves risk. But investment is needed for profit. Where there is potential for profit there is potential for loss, it is natural. Investing in cryptocurrencies is a bit more risky. Because the profit potential here is also high. But don't think you're going to get rich by investing in crypto. If you trade like a wise trader you will surely get good things.

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Quote from: Marvell1 on January 14, 2024, 07:19:03 AM

Quote from: boty on January 14, 2024, 12:03:36 AM

Quote from: snowpega on January 13, 2024, 10:06:20 PM

Dear, i read your post and In my honest opinion if you have not much money to trade so do not put your funds in risk as trading is the risky part and you may lose your funds in trading. If you asking me Start from holding rather than trading at the beginning and hopd only Good projects in Altcoins like Arb, etc etc....

What you say is very correct, if we don't have enough funds to trade, it would be better for us to hold a certain amount of crypto according to the funds we have, because if we decide to trade, of course there is a very high risk of losing the money we have if we don't. can do it well.

In my opinion, if we do not have enough money, we should not invest, whether it is trading or holding because there is no guarantee that holding will never lose money. Holding is considered safer than trading, but it also does not guarantee we will never lose money. Once we invest to make a profit, we will have to face risks, so never have the misconception that trading is risky and holding is not. It doesn't matter which bitcoin or altcoin you invest in, but if you don't have idle money and you're investing with money you can't afford to lose. It's best that you don't invest.

you correctly said that investment is risky it's does not matter it's trading or holding bitcoin. because there is no such thing as 100% guaranteed profit.
bitcoin is less risky investment when if you keep hold long term, so i recommended it when someone asking about investment in in crypto, but this investment should own limitation if here risk is involved.

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Quote from: boty on January 14, 2024, 12:03:36 AM

Quote from: snowpega on January 13, 2024, 10:06:20 PM

Dear, i read your post and In my honest opinion if you have not much money to trade so do not put your funds in risk as trading is the risky part and you may lose your funds in trading. If you asking me Start from holding rather than trading at the beginning and hopd only Good projects in Altcoins like Arb, etc etc....

What you say is very correct, if we don't have enough funds to trade, it would be better for us to hold a certain amount of crypto according to the funds we have, because if we decide to trade, of course there is a very high risk of losing the money we have if we don't. can do it well.

In my opinion, if we do not have enough money, we should not invest, whether it is trading or holding because there is no guarantee that holding will never lose money. Holding is considered safer than trading, but it also does not guarantee we will never lose money. Once we invest to make a profit, we will have to face risks, so never have the misconception that trading is risky and holding is not. It doesn't matter which bitcoin or altcoin you invest in, but if you don't have idle money and you're investing with money you can't afford to lose. It's best that you don't invest.

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