Should trading be for the rich? - page 9.

irhact

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Quote from: bettercrypto on January 12, 2024, 09:32:59 AM

So that means, as long as you know how to do proper trading, you can be in this field, because trading here in cryptocurrency or Bitcoin is open to anyone here as long as they know what they are doing and what they are not doing. It is looked at as a gamble that you can only get lucky from it if it is not designed that way.

Trading isn't gambling, gambling depends on luck but trading depends on what you know about trading and experience. Any individual can become a trader, trading isn't just for the rich, trading is for every individually that have interest in trading. The rich are just having more money so if they learn trading very well and with their money they can make more profits but the poor individuals can build their account and get to the level of the rich too from the profits he made from the past trades.

Any individual just depending on luck to trade won't make any profits and they'll lose all their money very soon. The market doesn't consider you to be a newbies therefore it'll go easy on you. If you're ignorant, the market will make you lose everything you have. If you haven't studied trading well and have practiced with a demo account and a live account with smaller amount of money, to get use to the market don't trade with bigger amounts.

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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.

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Quote from: bettercrypto on January 12, 2024, 09:32:59 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?

Why did you ask that? There are rich traders who don't really have extensive knowledge of trading, and then there are others who are not rich but have extensive knowledge of trading. There are such types of traders in this field of crypto business; even in this age, there are still such.

So that means, as long as you know how to do proper trading, you can be in this field, because trading here in cryptocurrency or Bitcoin is open to anyone here as long as they know what they are doing and what they are not doing. It is looked at as a gamble that you can only get lucky from it if it is not designed that way.

So what then happens if you know how to trade but do not have the needed capital to trade with, will you take a loan? Just knowing how to trade is not enough, you must have all it takes to trade, including money. Yea! Your financial status really matters when it comes to trading. I hear people say, "you can start with the little you have and it will grow", hmm, let's not just deceive ourselves, you might not even see results if you trade with very small capital. The most you can do is to keep practicing with the demo account till you you get enough capital to trade with.

Is it adviceable to trade with borrowed funds? No no because trading is a very high risk investment, anything can happen. The golden rule is "Trade with amounts you can afford to lose". Can you afford to lose the money you borrowed?
Trading is obviously not for everyone.

bettercrypto

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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?

Why did you ask that? There are rich traders who don't really have extensive knowledge of trading, and then there are others who are not rich but have extensive knowledge of trading. There are such types of traders in this field of crypto business; even in this age, there are still such.

So that means, as long as you know how to do proper trading, you can be in this field, because trading here in cryptocurrency or Bitcoin is open to anyone here as long as they know what they are doing and what they are not doing. It is looked at as a gamble that you can only get lucky from it if it is not designed that way.

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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.

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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?

You are looking at a single point of view, that is giving an advantage for those rich traders. While this is partly true, but we all know that trading is not limited to any social status, so any individual that is capable to trade is welcome in the trading market regardless of its social status. There are a lot of poor traders who have been living successful lives today because they excel in trading, just like there are rich traders who have been losing a lot today and end up struggling on their finances.

My point of view is that money is not the only key to success, but the knowledge, skills and experience in the trading market matter the most. So I be to disagree with your stance on trading OP.

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Quote from: lienfaye on December 08, 2023, 12:41:40 AM

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?

Anyone can trade as long as you have knowledge about it. However not everyone are able to profit and succeed in trading. Because it's not easy as it seems and one should know how it works and be aware of the factors that a trader must know in order to minimize the risk of losing money. The advantage of a rich traders are, they're not affected for sudden loss and still able to trade again since their capital is not limited. Losing is inevitable in trading sometimes. So if you're a kind of trader relying solely in your profit in trading then worst case happened, it will probably hurt you financially.

It's all about knowledge, as you said, and proper planning. A person who doesn't have a very large capital should plan their trades according to their capital, no matter how small their amounts will be for each trade, that's how you do it, you start small until you learn the things and keep growing, increase your capital over time, and once you have mastered the art and have also got your capital bigger, that's when you can go ahead and start making bigger trades.

People who are rich or have big capital will start with bigger amounts even when they are beginners, that's the only advantage they have because if their trades become successful, they will earn good money even as a newbie which can't be the case for someone with a small capital as they will get a very small amount as profit even if they make a successful trade initially.

But, I don't agree that trading is only for the rich, it's for those who have at least some money and enough will to do it.

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Quote from: jeha2015 on December 08, 2023, 12:33:02 PM

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?

If we talk about trading there is no age limit and trading is not only for rich people. Anyone can trade as long as they have knowledge about trading, and know the basics of trading, both the profits and risks. This is the most important thing.

It's just that if rich people trade, of course there are many benefits because they have a lot of capital when they experience losses and don't feel stressed. In contrast to people who have limited capital when trading, their soul and mentality are shaken and most people panic. But even so, if we can control everything, both emotions and psychology, calmly, we will be able to make a profit, and vice versa, if rich people don't understand trading well, their finances will be in chaos in the future.

Trading is meant for those people that know how to trade. We can trade the market if we have the skill that would aid us to trade in the market without losing big. We can make trading a full term job if we know to to go about it in a way that we could keep making consistent profits from the market. The market is volatile and for us to keep making profits from the market, we need to learn the art if trading and calm down and learn the skill very well so that the knowledge we have gotten wiuld works for us.

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Quote from: lienfaye on December 08, 2023, 12:41:40 AM

Anyone can trade as long as you have knowledge about it. However not everyone are able to profit and succeed in trading. Because it's not easy as it seems and one should know how it works and be aware of the factors that a trader must know in order to minimize the risk of losing money. The advantage of a rich traders are, they're not affected for sudden loss and still able to trade again since their capital is not limited. Losing is inevitable in trading sometimes. So if you're a kind of trader relying solely in your profit in trading then worst case happened, it will probably hurt you financially.

Not only knowledge but money is also very important for trading so you can trade only if you have money and you have idea about trading. Success and failure are two parts of trading so you will face both because no one win always without facing a single loss. Rich people can use more money as losing of small amount does not effect their economy and also they have so much money that they regularly invest in different businesses and different coins so if they loss in one coins they will definitely win profit in another coins. But poor people have only a single or two chances and if they loss those chances then they start taking loan for trading which is a bad choice.

if someone is financially unstable so they should not trade all the time but trade with that coins which will give you confirmed profit. Also they should remember that all coins are not good for short term trading therefore learn accurately that which coin will suit regard with your income and how longer you can trade as knowledge prior to trade matters a lot.

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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?

If we talk about trading there is no age limit and trading is not only for rich people. Anyone can trade as long as they have knowledge about trading, and know the basics of trading, both the profits and risks. This is the most important thing.

It's just that if rich people trade, of course there are many benefits because they have a lot of capital when they experience losses and don't feel stressed. In contrast to people who have limited capital when trading, their soul and mentality are shaken and most people panic. But even so, if we can control everything, both emotions and psychology, calmly, we will be able to make a profit, and vice versa, if rich people don't understand trading well, their finances will be in chaos in the future.

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

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

Quote from: Dr.Osh on December 08, 2023, 03:30:14 AM

not really, however the trading limits are not that big. In fact, with just $10, you can trade. It all depends on the individual who will trade. Sometimes they have money, but are afraid to take risks, on the other hand, there are people who dare to take risks, but don't have the money. This is quite common in the world of business and investment. Sometimes, people who dare to take risks want to start big. However, if they really believe they can make a lot of money from trading, then they can start from a small number if they don't have any money. So, I think trading is not just for rich people.

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.

Yes, trading definitely requires money. Trading is a very risky financial platform where a small mistake or any action can lead to huge losses. Not trading for those who don't have money or have decided to trade with borrowed money. As crypto trading platform is most volatile than other platforms with in moments anyone can lose his large amount of money in short period of time. For an investor to come to a cryptocurrency trading platform means taking a risk. Although every trade is risky despite of knowing the fact only those who are interested in trading will be suitable to trade.

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Read with this thread that discusse about "money and ideals being necessary" https://bitcointalksearch.org/topic/m.63253457.

That is just it that there are variety of persons that posseses what doesn't give other necessities but yet incomplete to exhibit or brings to profitable realities about particular goal.

I have Bitcoin investments ideal but doesn't have enough money to accumulate as much but I have a friend who hears about the potentials of Bitcoin to enhance profits to enrichments but he doesn't the knowledge has the money to invest but he wishes to invest there in Bitcoin while I also want to invest more in the Bitcoin.
This is something of the same aim and goal but doesn't posses the required possessions.
So money and ideals are both never when you want to go into trading because knowledge and capital is essential and necessarily compulsory along the lines.

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

Quote from: Dr.Osh on December 08, 2023, 03:30:14 AM

not really, however the trading limits are not that big. In fact, with just $10, you can trade. It all depends on the individual who will trade. Sometimes they have money, but are afraid to take risks, on the other hand, there are people who dare to take risks, but don't have the money. This is quite common in the world of business and investment. Sometimes, people who dare to take risks want to start big. However, if they really believe they can make a lot of money from trading, then they can start from a small number if they don't have any money. So, I think trading is not just for rich people.

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.

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I do not think it is meant only for the rich. It is actually meant for those people who are ready to lose their money and are aware of the risks involved in this space.

Most of us here starts from scratch in terms of trading cryptocurrencies before they made their own fortunes. For sure, we have experienced many losses and mistakes in our trading decisions but also an opportunity for us to learn and become better in analyzing the trends, charts, etc.

It reminds me of someone I know who only had small extra money to start off with this crypto trading journey. He took time to self-learn more about familiarizing the chart in Tradingview, patterns, candlesticks, trends, etc.

Took him a while until he finally get used to it and start achieving good results in his own analysis but there are times he lost too as there is no guarantees about being 100% accurate.

He doesn’t have much money back then, but took time to learn TA skills by himself overtime and implemented it right away. So we don’t say that trading is only meant for rich people.

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Quote from: Dr.Osh on December 08, 2023, 03:30:14 AM

not really, however the trading limits are not that big. In fact, with just $10, you can trade. It all depends on the individual who will trade. Sometimes they have money, but are afraid to take risks, on the other hand, there are people who dare to take risks, but don't have the money. This is quite common in the world of business and investment. Sometimes, people who dare to take risks want to start big. However, if they really believe they can make a lot of money from trading, then they can start from a small number if they don't have any money. So, I think trading is not just for rich people.

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.

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not really, however the trading limits are not that big. In fact, with just $10, you can trade. It all depends on the individual who will trade. Sometimes they have money, but are afraid to take risks, on the other hand, there are people who dare to take risks, but don't have the money. This is quite common in the world of business and investment. Sometimes, people who dare to take risks want to start big. However, if they really believe they can make a lot of money from trading, then they can start from a small number if they don't have any money. So, I think trading is not just for rich people.

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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?

Anyone can trade as long as you have knowledge about it. However not everyone are able to profit and succeed in trading. Because it's not easy as it seems and one should know how it works and be aware of the factors that a trader must know in order to minimize the risk of losing money. The advantage of a rich traders are, they're not affected for sudden loss and still able to trade again since their capital is not limited. Losing is inevitable in trading sometimes. So if you're a kind of trader relying solely in your profit in trading then worst case happened, it will probably hurt you financially.

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Quote from: Mauser on December 04, 2023, 05:20:46 AM

No, of course trading should be for everybody and not only for the rich.

Yes trading is for all but the rich has more advantage than the poor. And why I am saying that is because in trading the more you add more in the trading the more profit you make. And if the trading capital is big then your profit will also be big. And the poor can not afford the amount of $1,000 at once for a trade and the rich can provide $3,000 for a trade and make a good profit from it.

Trading with small amount will never profit you so the rich know like that and they trade with huge amount and get it done with big profit.

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If you have money to trade, it doesn't mean that you are rich already, it will just mean that you have the desire to trade and make money from doing this. Because if I am a rich person, I don't need to trade anymore and get involved in stressing life being a trader instead, I use someone to manage my money and do the trade. Or, I spend my money on something that will assure me to earn unlike trading if we don't have the knowledge and skill, we only just lose. Of course, even though we have money, I don't think we just let this happen.

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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?

The question is self-contracting I feel like.

If you are rich enough to not care about losing money through trading, then you don't have to trade in the first place.

This question actually falls under bankroll management because no matter how rich or poor, you must know how to manage your capital and how much your trade size and risk appetite should be. Even if you have a million dollars and you don't know how to utilize the capital efficiently, then you will likely end up losing all the money.

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