Topic: Why does everyone want to trade? - page 2. (Read 2408 times)
People usually trade because they want to make quick profits. but once they got used to crypto and learn more they trade to convert between assets to use them.
Many people think that it is as simple as possible, and most importantly, it is always profitable. It is important to understand that this is not at all the case. Trading requires concentration and, most importantly, learning. Many people want to make money without it.
This is indeed the main reason why people are interested to trade even though this is so risky, because of the profits that they expect. but the reality, this will not be as easy as they think. Trading activities in cryptocurrency needs high risks, which is why we need to improve ourselves in many things so that we are exactly ready for this trading. It is not enough if we only have enough knowledge about crypto, specifically, we need more than it like how to make strategy and also trading analysis both technically and fundamentally. We also need to learn more about how to avoid many losses, so we can still earn money although we are losing in one trading pair. In addition, the management of funds is also as important as the risk and emotion, so we need also to be able to manage it all. In brief, trading is not an easy thing to do, but once we are able to do it, this will really give us money from gaining profits. 
There is something I would want to understand about people they taught trading is all about just funding their accounts and start the journey the way its.
It's about having an edge over the markets using a proven strategy and knowing how to manage the funds! Why do I brought up this case is that, a friend of mine who have been trading on binary using Demo account to trade for about 2 year, reading all forms of technical books and watching lots of videos online from which he had made an increase started building the account from bonuses given to him he would build time 5 of the initial fake funds and he would be happy to start improvement.
The best way to put a strategy is to trade with real funds as this will test your risk management and emotions, unlike trading demo accounts which you know can be lost and no one will care! Reaching sometimes, he thought is now a professional who can control the real account, he went ahead and take a loan of $1.5k converting to our local currency then was about 1m. During the lockdown period he took the loan hoping to pay as we got released from the covid-19 but sorry he couldn't make it to trade out same $1.5k instead ended up emptying his account.
Honestly your friend might be a good trader, but because he got a loan to trade this might have affected his trading style as this put presure on himself and emotional well-being and besides trading or gambling you are advised not to do so with borrowed funds. So my question is; does those who started trading on binary faces this same issues?
And if yes how much have you lost so far?
How long do you think to learn to be perfect in trading generally both binary options and spot trading or any other trading?
Please share as I almost fall victim of joining him but he lost made me to lost interest.
If your trading style is solid it doesn't matter what asset you are trading, but you are advised to backtest to see how well your strategy holds up against the new asset, if you aren't winning trades that's not your bread and butter. And if yes how much have you lost so far?
How long do you think to learn to be perfect in trading generally both binary options and spot trading or any other trading?
Please share as I almost fall victim of joining him but he lost made me to lost interest.
the real traders know why they will sell or buy coins.
No one in the whole wide world can actually know the future, it's all speculations and predictions based on what has happened in the past and what is happening around at the moment. Traders do analysis and provide predictions to follow which most of the times become right but not all the time. So sometimes, luck plays its part even in trading.I've seen people with no knowledge getting profits in trading while the experienced ones falling short on that. There will be no point on everyone will be preferring to trade as competitions will become too wild in market which lead to unhealthy scenario in markets.
If you have no idea in trading, don't trade. But if you want to start trading with little money then proceed because you'll learn your way on it.
Those that are taking loans, they're doing the wrong thing because if you want to trade you should use your own money. Because if you lose, then your money is the one that lost and not the others for which you'll still need to pay for the interest.
Let us say that borrowing money to start trade is not a good idea but I think if that is only a small about and that person has the capacity to pay it, I think that is still acceptable. Doing trading is like you are building a new business as well, we'd learn from day to day, we spend money and (might) lose them if mismanage. That is why before we enter and make a decision to borrow money make sure that we are already aware of the possibility to happen after. Those that are taking loans, they're doing the wrong thing because if you want to trade you should use your own money. Because if you lose, then your money is the one that lost and not the others for which you'll still need to pay for the interest.
If you think that it's wise to borrow money that you can afford to lose and you'll pay that since it's a small amount, you just better don't bother anyone and just save that amount of money that you'll use for trading.
Because if that's the thought that you can easily pay it since it's just a small amount then you better use your own money and just take it and leave the lender alone. Well, that's just IMHO.
Many people think that it is as simple as possible, and most importantly, it is always profitable. It is important to understand that this is not at all the case. Trading requires concentration and, most importantly, learning. Many people want to make money without it.
The bottom line is still to get profit in crypto trading. But of course, before achieving this thing, there is still learning the right process to do it. We can't just invest in a crypto that we don't know why we chose to invest.
That's why we still need enough correct knowledge and skills in trading, we can't just use guesswork here because if that's our basis, it will appear that we are not crypto traders but a gambler Because the real traders know why they will sell or buy coins.
Trading is better and most of people who are familiar with trading can get much money by doing such activities but I think that put little money at start but do not take loan for this because if you do not know about trading then this money can be lost and you will have to pay the person from which you have taken loan.
If you have no idea in trading, don't trade. But if you want to start trading with little money then proceed because you'll learn your way on it.Those that are taking loans, they're doing the wrong thing because if you want to trade you should use your own money. Because if you lose, then your money is the one that lost and not the others for which you'll still need to pay for the interest.
many traders, particularly new traders, do not fully understand the risks involved in trading and may not have a solid plan for managing those risks. This can lead to large losses, as in the case of your friend.
In terms of how long it takes to learn to be perfect in trading, there is no set time frame as it depends on individual skills, experience, and learning approach. However, it is important to keep in mind that trading is a continuous learning process and that you will never stop learning.
It is also important to avoid taking loans to trade, as this can lead to even greater financial losses. Instead, it is recommended to start with a small account and to trade with a small percentage of your capital.
In terms of how long it takes to learn to be perfect in trading, there is no set time frame as it depends on individual skills, experience, and learning approach. However, it is important to keep in mind that trading is a continuous learning process and that you will never stop learning.
It is also important to avoid taking loans to trade, as this can lead to even greater financial losses. Instead, it is recommended to start with a small account and to trade with a small percentage of your capital.
Many people think that it is as simple as possible, and most importantly, it is always profitable. It is important to understand that this is not at all the case. Trading requires concentration and, most importantly, learning. Many people want to make money without it.
the majority of people who are beginners in trading certainly think like this, but in fact it's not at all, trading is an activity that aims to double assets or generate profits just like any other business but it's not easy at all, small mistakes will only end badly and assets what we have invested in will just disappear. Trading is better and most of people who are familiar with trading can get much money by doing such activities but I think that put little money at start but do not take loan for this because if you do not know about trading then this money can be lost and you will have to pay the person from which you have taken loan.
If you have no idea in trading, don't trade. But if you want to start trading with little money then proceed because you'll learn your way on it.Those that are taking loans, they're doing the wrong thing because if you want to trade you should use your own money. Because if you lose, then your money is the one that lost and not the others for which you'll still need to pay for the interest.
First think that whether you know about trading or have no experience at all. Trading is beneficial but it may also involves some dangerous and difficult cases when market is not favorable then you cannot make money instead you will loss your own.
you can see more beginners nowadays are interested in trading. even some come with their big money and trade only relying on the referrals of friends or following the signals from the trading groups they follow on telegram.
we cannot discourage those who are new to trading. because they see the hype going on, and of course, the interest is there when they hear more positive news.
no matter whether experienced or not, they have enough capital for them to trade and are ready to make more money or burn more money.
Trading is better and most of people who are familiar with trading can get much money by doing such activities but I think that put little money at start but do not take loan for this because if you do not know about trading then this money can be lost and you will have to pay the person from which you have taken loan.
First think that whether you know about trading or have no experience at all. Trading is beneficial but it may also involves some dangerous and difficult cases when market is not favorable then you cannot make money instead you will loss your own.
First think that whether you know about trading or have no experience at all. Trading is beneficial but it may also involves some dangerous and difficult cases when market is not favorable then you cannot make money instead you will loss your own.
Proper guidance and experience also education about how to do it properly - If someone lacks in any of this situation they will make a mistake and will end up losing and not making profit.
And your friend being on binary puts it in gambling. Also, trade with the only amount you are willing to lose or afford to lose. Your friend made a mistake of investing borrowed money which he can cot afford to lose. There will be some errors on your data analysis which sometime could make you lose, so there will always be a slight chance of that. If you lose borrowed money and have the pressure to pay it back could to lead to an emotional trade. so you keep on loosing more and more.
And to answer your title question - It seems easy to people, and they want to make money quickly. And not having enough knowledge on trading, they lose and keep on trying to lose more.
And your friend being on binary puts it in gambling. Also, trade with the only amount you are willing to lose or afford to lose. Your friend made a mistake of investing borrowed money which he can cot afford to lose. There will be some errors on your data analysis which sometime could make you lose, so there will always be a slight chance of that. If you lose borrowed money and have the pressure to pay it back could to lead to an emotional trade. so you keep on loosing more and more.
And to answer your title question - It seems easy to people, and they want to make money quickly. And not having enough knowledge on trading, they lose and keep on trying to lose more.
While in the aspect of gambling, it comes with luck and prediction and sometimes your prediction will not come to pass, and secondly gambling doesn't have a skill and everyone can be part of it because it's doesn't require a deep calculation.
We do have some gambling that have to do with skills and your ability to be able to understand who is the better side between both teams playing. In sport betting the luck ratio is very small when compared to the skill. If you're a sport lover and knows the teams that have been in form or have an advantage due to their records against their opponent then you'll be favorable against any bet that you placed.
Trading isn't gambling and nobody should confused the two. They're different but you both need luck and skills if you want to succeed at both as well because without luck you can be the most hard-working yet you don't see any results.
Virtually every crypto enthusiast wants to trade. But the question is , what's the best trading tutorial that all newbies and wannabes alike , should get, in order to kickstart their trading journeys?
There are two things you cannot avoid in crypto trading which are loss and profit, you trade to make profits or you trade to experience loss which is part of some of the things that made people to like trade in the community. Many traders in the community trade to make a huge amount of money but sometimes they ended up not achieving anything than to learn more from their losses to improve in future. I guess, Many traders will not use loan to invest in this bear market than to use the little they have to invest and hold for the price to change positively before they can visit market to earn something good.
Most of the time the outcome is not favoring to your investment, only few who can predict it right. With how volatility really affecting
the market, you need to spend time and money before you can achieve good success.
Along the way, if you are really keen in succeeding to this venture, you will find ways to convert those losses into a good knowledge,
factors that can drive you to speculate much better.
Not a guaranteed success but if you will continue to learn you can have a good advantage.
There are two things you cannot avoid in crypto trading which are loss and profit, you trade to make profits or you trade to experience loss which is part of some of the things that made people to like trade in the community. Many traders in the community trade to make a huge amount of money but sometimes they ended up not achieving anything than to learn more from their losses to improve in future. I guess, Many traders will not use loan to invest in this bear market than to use the little they have to invest and hold for the price to change positively before they can visit market to earn something good.
A lot wants to trade probably because they want to earn, but are not initially aware that trading is more complicated that what they thought. Potential profit is the peak reason why everyone do wanted to do it. On the other side, those people that has not a good run on it probably already stopped.
Trading, whether it's binary options, spot trading, or any other, is a tough and often risky game that requires a combination of brains, experience, and self-control. It's normal for traders, especially newbies, to take some lumps as they learn and improve their skills. It's not the same as gambling because it takes more than just luck to succeed.
Just looking at trading from an outside point of view , basically newbies or people that hasn't traded at all, it looks like the most simplest and easiest way of earning money, because you necessary don't have to do hard physical work to actually start earning money, So this makes it look so attractive for people to want to trade. While in the real sense it not so , only easy for people that understood the game.
there is another reason that makes novice traders think trading is an easy way to make money, namely, because now almost everyone knows what bitcoin is and they know the price of bitcoin is very expensive.so if someone who doesn't really understand trading but already knows the price of bitcoin and after that is persuaded someone to trade somewhere they always think it's very profitable.
so it's all about profit.
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