Topic: Why does everyone want to trade? - page 10. (Read 2408 times)

Options trading is old, and many users use this kind of trading method to earn money. If you earn money by flipping a coin in the air could be considered gambling, but in options trading, things is not like this. We can compare this with future trading though it's a bit different. Options traders also open their trade based on FA/TA. The difference with future trading is in future trading, you will get a liquidation zone, and in options trading, you will get a expire time.

It may be that the person traded at a wrong time. When covid started there was a lot of panic in the market.
A lot of panic selling was happening and the market had a lot of uncertainty. Seeing this that person should have closed all his trades.
But he continued to eventually lose all his money. We can't really say if he was bad at trading but may be the time he started trading was bad.

- First of all, you don't need to be an expert just to make good money in any trading industry dude. Binary trading is also quite different from cryptocurrency spot trading.

  In my understanding because of this matter the risk that you can face when you invest here is higher compared to crypto trading. That's why in any way we do in trading, the only investment we use in this kind of thing is that we are ready to lose and lose our capital so as not to hurt our mood. Though the major things for doing trade is to get some profit in it, this is the bottom line for us as a traders.

Profit is what we aim for that is why we are here but unfortunately, most traders neglect the risk and even forget that losses is a part of trading. That is why many of these traders put blame the market which in fact it was their fault in the very first place. They'll come with empty knowledge and skills, how we could expect from them? Of course, it is impossible.
Learning should be on our minds upon entry into trading, not profit. Because at the moment we gain more knowledge, profit is somewhat easy to get.

But, there are no people which are born with existing trading skills on them so therefore everyone can learn trading as long as they are willing. Not that it sounds easy but trading is really easy, it's only about buying and selling but people are only complicating things because they play with different tools before they make a trade but there are other forms of trading which are only built for a more advance user and one of it is like you said binary trading.

Next in the list would be leverage trading. Taking a loan and using that loan in trading is not recommended and I think even the pro traders still avoid it. It would be better if we will only trade using our own money.

I was once a binary options trader with IQ option it was a disastrous outcome I blewed my account on several occasions before calling it a quit to avoid going bankrupt, Binary options is a pure gambling it's only their brokers that earn profits from their traders and a lot of manipulation of the prices behind the scenes, Moreso  locking and freezing of accounts of binary traders is very common with some fraudulent brokers if they discover that the trader is making huge profits consistently, of course spot or forex trading is far better than Binary options, it's just take to some to learn skills in trading, that person referred should have focus more in learning spot or forex trading to binary options.

It is clear that after all traders make trades of course they want to make a profit and that is what they should be,
crypto is indeed a solution but as a trader you need to know also about the risks,
especially with bear market conditions it is important to be careful and always consider risks before making a decision

For me, the first mistake your friend made was borrowing money to trade even when he's still a newbie, I've been there before and with all honestly, i can tell you that a demo account is far different from a live(real money funded) account.

Second mistake he made was not starting with a very small amount of money, one might have traded with millions in a demo account and succeeded in growing it, but it is highly advised to start a live account with as little as $10 or $50, and trade with that amount for at least 6 to 1 year minimum depending on how regular you trade, after the 1 year, you can decide to increase that amount if your performance with the little amount is pleasing to you.

Third mistake he made was being greedy and anxious to start making money which is what drove him to borrowing such an amount of money even without proper knowledge of how trading works.

Forth mistake he made was depending on YouTube videos and books, it is good to watch videos and read books, but never allow that take the place of a personal tutor, and not just a tutor but a professional with some positive track record, if you cant find such a person, then at least, look for someone that's far more knowledgeable in trading than yourself.

Fifth mistake he made is jumping into trading without strategy, succeeding in anything takes and requires good strategy, and because your friend is a newbie and without a tutor or mentor, he didn't know about this, this is why it is dangerous to just depend on videos and books when learning how trade, the market is highly dynamic, alot of things shift and change as seconds, minutes and hours go by, this simply means that a video recorded yesterday about trading or a book written yesterday about trading can possibly become outdated today due to changes in the current market which is no longer as it was the time the video or book was released.

I hope we all learn from this.   

I think OP should rephrase that question and succinctly ask – Why does everyone want to make or earn money? The answer will be an obvious one. Of course, everyone wants a better life of comfort which money can afford. People believe engaging in trading can give them all that. Sadly, it's just an infinitesimal number of traders that can truly say they're living that life from profits made in trading.

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Well, there's nothing wrong in arming oneself with the theoretical of trading. However, to tell you the truth trading is more of practical reality and emotional control than reading books. BTW, you sound like you trade Binary. Do you also trade FX?

Trading is not meant for everyone, when we had of trading it sounds so easily to earing but sometimes very difficult to comprehend and deal with why because many people focuses their efforts on making profits and becoming rich over night without knowing that there are more to know and to risk.
In Binary trading, it deals with prediction somehow looking gaming maybe you could say bitcoin price will gets to $21k within 1 day or 2 days or so, and if it happens so then you are sure for gain or profits, this could only happens when you have enough equity otherwise your trades might terminate along the line if it goes against your predictions.
My advice to anyone going into trading is; they should go for information reads lots of material and practice with little amount, possibly what they can afford to lose than going to take a loan from any financial institution.

Binary trading is widely considered to be a form of gambling and not trading so your friend has been wasting his time by trying to master a skill which cannot really be mastered at all, also there is not a specific timetable which can tell you when you should begin to trade, you are ready when you are ready, not after or before, it could take you a few months, years or maybe you will never be ready, in which case you must never trade the markets or you will suffer the same losses as your friend.

Spot trading is a better option than any trading platform. But the risk remains high unless we just hold and wait for the right time to sell them. However, it was not the thing we usually do, earning a profit every day is what we wanted to happen which brought us to think trading is the solution. Unfortunately, not all have come out with great results just like what happened to OP's friend. This will tell us that even though we have been trading for many years, it is hard to assure that profit will always come as losses are still inevitable.

Spot trading is the best to stay away from risks. Financial freedom as well as a way to increase our portfolio. One who got the ability to predict the market in a better way will easily increase his holdings. In the fast moving world money is more important and to have the same we're in need of taking several forms of risk. One such way is the trading, which can be mastered out of learning.

You would definitely feel up that way and you cant really enjoy out the possible profits you could make if you are doing on something which you dont really have the interest or passion on doing so.

Holding up coins for long term doesnt really be pertaining about trading i must say.Its a different concept considering that trading does involved active buy and sell on the market.
This is where there are people who do really rush up on doing trades and they do really believe out that making money is easy.

They would really be finding out by themselves on how hard on making up trades.

There's an increasing number of unemployment in so many countries, So people now see trading as an alternative way of earning money without having to depend on Government to provide job for them.


someone who started learning trading using demo account with consistent profit results can do well in trading life account.
However, there's a bit difference between life account and demo account, some can do well using demo account but when it comes to trading life account they keep blowing their entire account over and over again, this is as result of emotions, Emotion plays an important role when it comes to trading. Traders should learn how to manage their emotions when trading life account.

Unfortunately, if you are not enjoying the journey, you are not going to enjoy the results neither. People who could make a profit from the crypto world are the people who could make a profit from holding things for a long term. The "diamond hands" so to speak are the ones who make money from here.

I understand that there are situations where it could crash, and it could crash a lot, like as much as 80%+ sometimes, and if you invested into the wrong crypto then it could go down near zero levels. However, if you invest into bitcoin and hold it long enough then you are going to make a good profit from it for sure, there is no denying of that.

True, not everyone wants to do that. Some of them don't even want to know more about crypto trading. The problem is that they don't really want to come along. I once told my friend and they were interested but they didn't want to hold on and right now they stopped.
True to what you're saying, they're only interested in the results at first, not the process and the struggle. Even at first I told you how the risks are. But indeed this convinced them of no interest, because they stopped.

Well, what I see is that not all are wanted to risk their money by trading. In fact, trading is not for everyone.
But what I see the reason why some people wanted to trade is that they see that many people are talking great about trading, adds saying huge profits from doing this. It is really a sort of encouraging but guess what, many people become fools with the word "rich". Just like what happened to your friend, he tried Binary trading so that he can make money easily but unfortunately, the result is different at the time using his own money.

Binary options is a type of gambling in the names of trading, which is different from spot trading.

Basically the place where knowledge and skills are needed is spot trading, an EV + system. While all these binary options, futures and leverage are gambles, EV - system. That what the OP's relative has done is gone with the second group. I never suggest these to any user, but I would advocate the spot trading.

Whenever you can find a place to make money, always check whether luck based things ar coming in. If so they are going to be games of chance.

Most only care you create account by their ref link and fund the account, so they get referral money.
Plus, if you're "lucky" and start trading on a bull market you may end up with some small profit even if you have no idea what you're doing (trading-as-gambling). Of course, bull market doesn't last forever and sooner or alter a cold shower is bound to happen.

I think that it was better for you that you've started on a bear market. Probably you've lost less than you should have if you were trading for longer. And learned, which should be useful for later.