Should trading be for the rich? - page 8.

AnonBitCoiner

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Quote from: Kelward on January 14, 2024, 06:06:58 AM

If you want to start with a sustential amount then invest in Bitcoin, if the price pumps, then you can sale and start trading.

Your mentioned strategy is good one that a person don't have enough money then he should invest in bitcoin and with such investment profit he can start trading but I think that trading needs more money and more attention as well as it possess greater risk as compared to investment so why we are wasting our money with trading.

In trading those individuals can be successful who has complete knowledge about trading, has patience and also has more money because trading requires more money than investment. In my opinion investment gives you more profit as compared to trading but due to quick profit of trading people prefer it more but still with quick profit there is a more risk associated with trading than investment.

Kelward

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Quote from: Zaguru12 on November 27, 2023, 05:04:06 PM

Let’s take it like this, trading should be like a business, even if you have the knowledge but no capital you shouldn’t invest, even if you have the capital but isn’t much to start then start small and gain little profits as time goes on and you grow with experience it will expand. If you also have the capital even if it’s excess but you’re afraid you will lose, first advice is to run trading isn’t basically the only thing you can simply just invest or say hold for long and you will still earn your profits. Second advice you should give it a try since everyone starts with a fear and later conquers it

It's true that crypto trading is like every other business that requires capital to start, depending on the business, if the capital is not enough then you'd have to hold on till the startup capital is complete. In crypto trading you can still start with the amount that you can afford to loose, follow useful tips not to lose your money, like having patience and not rushing into making trade, don't be greedy and know when to exit. If you want to start with a sustential amount then invest in Bitcoin, if the price pumps, then you can sale and start trading.

cryptodude

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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.

wtsimis

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Investing in any business will not make you rich overnight. Investment techniques and proper timing should be followed by market analysis and investment. After investing you have to wait for a long time for sufficient profit to come from the investment.
How do you invest if you don't have capital to invest? Many learn trading with a demo account. After learning they cannot trade due to lack of money. So I think learning trading with demo account and then earning money from other sectors and then thinking about investing in future. And getting rich should never be monotonous. It may become more risky for you.

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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.

Quote

Holding Bitcoin should be your first priority. On the other hand, if you have good trading skill and you know how to trade well to generate good profits, your portfolio also matters here like bigger amount you have bigger you can generate profit. Avoide trading on leverage as it also have higher risk in liquidating your funds. This is my advice other than that you should DYOR Because having financial device from others and taking action with any research can lead you to the risk. I am not saying do not take advice of other but i mean to say that if you are talking advice of other people alway DYOR before taking any action. Many thanks

To be able to trade, of course you have to have capital and good knowledge in the trade that we are going to do, because if we only have capital and no knowledge, of course we cannot use that capital for trading because we will experience losses in the trade. If we don't have capital and try trading with leverage, of course this has a very high risk of losing that capital even though we already have a good understanding of trading.

Yes, you are right, if we want to trade of course we have to do our own research about the type of coins we are going to trade, because if we follow advice from other people which is not necessarily correct, it would be better for us to do it ourselves and use other people's advice as a reference in our research. what we do ourselves.

snowpega

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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?

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....

Holding Bitcoin should be your first priority. On the other hand, if you have good trading skill and you know how to trade well to generate good profits, your portfolio also matters here like bigger amount you have bigger you can generate profit. Avoide trading on leverage as it also have higher risk in liquidating your funds. This is my advice other than that you should DYOR Because having financial device from others and taking action with any research can lead you to the risk. I am not saying do not take advice of other but i mean to say that if you are talking advice of other people alway DYOR before taking any action. Many thanks

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Quote from: Nrcewker on January 13, 2024, 01:11:11 PM

There is no class or status defined for trading. Trading is basically a surviving skill. If you excel in it then like any other skill you will make good amount of money. This is my point of view. A small worker who regularly trades with 20% of his daily earnings is making more money than a rich person who is trading daily with huge capital. The money, the bankroll doesn’t matter at all. The skill and the risk management is the one which every trader should learn.

Trading can be to anyone whether you are poor or rich person. The question is if we really have the knowledge, skills, and passion in trading. Honestly, a lot of people start trading only have a small capital, some become successful while some also fail, this is what also happens to rich people. Although the difference is rich people can't badly feel regret if ever they lose their money but I don't think it is reasonable enough to continue when the results are just losing consistently.

In fact, even in investing, it doesn't mean that it is only for rich people but for those who have an interest and market understanding whether you are rich or poor.

Essential10

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Trading is absolutely risky endeavor and potential for financial loss. Make good judgments between your own strengths and opportunities to take risks. Take into account your situation and financial status, any kind of existence custody. Make sure that you trade only within your profit and loss limits. Grab a solid understanding of the market and a well-thought-out strategy before venturing into the world of trading. It is best to consider starting with a small amount of money that you can afford to lose before risking money. Stay disciplined and avoid making impulsive decisions while trading. Overall, while there is potential for financial gains in trading, be aware of the risks and consider it with caution.

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Personally not wrong dreaming with some one trading as solution for the rich but its not promising yet when focus on trading you will get quick way to be rich person, prefer with trading skill beside you have much capital will support way to consistency earn much profit in daily day or want to trade as short term way. I think all trader have motivate to be rich when trading their money in cryptocurrency, but need balance with skill and ambition want to raise in the future as motivation keep consistent in trading for earning much money and change their financial condition becoming reach person in the future.
Many aspect have to learn if want to be rich with trading, control emotion well and not greedy when position of trading earn profitable don't doubt for selling when earn small profit than keep hold it.

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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?

Yup, the portfolio does matter, but trading is not only for the big whales even with a small portfolio you can trade and earn for the profits you know the smaller the portfolio the smaller the returns, and vice versa.

Now moving to the point the person who has, good trading skills should not wait for the big portfolio to enter, he should try to make the big portfolio using his skills.

Miles2006

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It's not all about rich and poor the main issue is you should be financial ready to trade and not the kind of trade you trade and you still lack money, people with the knowledge and no money there's always chance to work and earn then come back to trade and that's what every one does, it just depend if the person is interested to trade after earning.
I think this is one of the strategy wealthy men use and they focus less on the market but when it comes to the ones that can't afford regular money to trade they always find it difficult and scared not to loss, in my opinion you can always work to earn and come back to trade.

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Quote from: Romeotom on January 13, 2024, 01:04:07 PM

Actually after learning trading everyone start trading more or less but very few people who get good profit from trading. Some traders run away with the thought of getting rich, which leads to heavy losses. I find it really difficult because I have been researching trading for the past few years and I have lost a lot of money. You can call trading as a hobby because it can make people rich in one way.

what you say is quite true, because many people think that by trading they will get extra money, there are lots of triggers for beginners who get caught up in trading, see people's big profits and become tempted, and there are some expert people who make trading their daily job, of course that's with sufficient skill, I personally would rather buy and hold it for the long term rather than having to force a trade

Nrcewker

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There is no class or status defined for trading. Trading is basically a surviving skill. If you excel in it then like any other skill you will make good amount of money. This is my point of view. A small worker who regularly trades with 20% of his daily earnings is making more money than a rich person who is trading daily with huge capital. The money, the bankroll doesn’t matter at all. The skill and the risk management is the one which every trader should learn.

Romeotom

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Actually after learning trading everyone start trading more or less but very few people who get good profit from trading. Some traders run away with the thought of getting rich, which leads to heavy losses. I find it really difficult because I have been researching trading for the past few years and I have lost a lot of money. You can call trading as a hobby because it can make people rich in one way.

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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 trading is for the rich then trading shouldn't be making people rich , there are people who were poor before they ventured into trading and after the started trading their lives changed for the better and they can say that they have become rich trading and so it's proven that trading gets people rich so it's shouldn't be seen that you must have money before you start trading, the difference between those people who are still trading and those who left because they don't have money to find their skill is basically lack of information. If you know and trust your proficiency in your trading skill I think what you need is a partner or let's say an investor and you trading journey becomes a reality or better still purchase a propfirm and trade excellently and make money from them.

There are other ways to build a good trading portfolio without breaking the bank, you don't need huge capital, if you have learnt well and have good skills trading then explore any of the following, purchase a propfirm, sort for an investor or sell of a property and use the money to start when you become profitable you can replace it.

2Pizza410000BTC

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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 possible with only money. Trading definitely requires experience and strategy. But money is definitely needed. If you don't have money, you can't participate in the trading platform. Just as having money is important, so is having trading experience on a trading platform.

tbterryboy

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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.

Market is definitely controlled by the rich, whether they are earning or losing money is a separate story. I think trading is for everyone and not just the rich but it's certainly harder for the poor because you don't have much room for mistakes.

If you have a huge bankroll then you can afford to make some mistakes and apply various strategies to see which one works best for you but if you don't have a big bankroll then firstly your trade size is small which limits your profits and emotions also come into play. But hey, with the right mindset and proper execution, I have seen riches going to rags and vice versa. Some people bought Bitcoins with just $100 in 2010 and are now millionaires while are people losing millions of dollars to trading every day.

Ben Barubal

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Quote from: pusaka on January 12, 2024, 06:30:31 AM

Quote from: Kelvinid on December 08, 2023, 09:28:59 AM

Quote from: pusaka on December 08, 2023, 06:20:49 AM

More precisely trading for people who are ready to lose, does not mean surrendering, but with a very large risk of course we must be really ready to lose our money when trading.
It must also be underlined when we trade must use money that is not intended for anything. When we are ready to take risks, but we use money for other purposes, it is not wise either. Because when we really lose we will have difficulty covering the money we have used to trade. So indeed this requires proper consideration and decisions.

At the moment we decide to trade, we already acknowledge that any time we might lose our money. This means that trading needs money which poor people hardly can afford to have. I won't say this is only for rich people but it is for everyone who can afford to lose and accept whatever happens to their capital. Even if we have money or like to say we are rich but if we don't also have courage and interest in trading, I don't think it makes sense to just lose our money. It was not all about money but it was all about interest and willingness to take risks.

That's the point, trading is for people who are ready for big risks and can take responsibility for what they do. People with a lot of money will also never trade if they do not have the courage and are not prepared to lose.
The problem is when ordinary people or "poor" people trade to change their fate, because they think trading is one way to make them have a lot of money. That is a big mistake, and it still happens in the field, they think trading is easy and they make this a shortcut to get rich.
Instead of the money they will get, they will be even more ruined because of this.

You're right, trading is not made just for rich people; in fact, many of us have prospered because we are traders who started from being simple people or just poor, but because we worked hard to study and learn about trading and accumulated assets or profits from this trading in the crypto space.

That's why, as long as you have determination and broad ideas or knowledge, you are always welcome in this field of the crypto trading industry. There is even a chance that the poor have deeper knowledge compared to the rich, although the difference is only in the level of money they have.

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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?

In my opinion, traders are not only owned by those who have a lot of money, anyone who has more money and can afford to lose that money can become a trader. What is exclusive, in my opinion, is that a trader must have sufficient knowledge about traders, not about who has a lot of money and who doesn't.

Because even if they have money but without knowledge about trading, it will be useless, they will experience losses. Indeed, those who have a lot of money are usually mentally stronger because when they experience a loss they will not panic because they still have more money. This is different for those who have minimal funds, of course they will be mentally and psychologically disturbed when trading.

In short, there is a sense of security for those who have a lot of money and those who have little money, but what really matters is the knowledge about trading and the strategies used.

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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.

Doing both is the greatest option. There is nothing inherently wrong with trading or holding, but holding is safer, and the aspect of trading depends on the manner of trading you employ. That is how you make money from bitcoin; exploit little opportunities to make more money. When you buy to hold, you can keep it for a very long time, and trading can be when the price is low, you buy, and when it is high, you sell, and you will always make money regardless of the market condition.

The market does not select who will lose or not. So either rich or poor will still lose. And little funds can not give you much profit. But it is better to have knowledge before starting.

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