Topic: Why does everyone want to trade? - page 8. (Read 2421 times)

The binary option is more of gambling than trading since a person needs to guess whether the price of bitcoin will go up or down a certain market value.  And as gambling, we know that majority will lose at some point and your firend is not an exemption.


I avoid this kind of trading so I lost nothing so far.


No one can perfect trading.  They can master it but can never perfect trading may it be in Binary options or spot trading.  The main reason is there are too many variable that keep on changing in the Bitcoin market which is why no one can perfect it.

How can you learn how to predict an unpredictable market? In order to do this you have to be lucky, not skilled.

Imagine how much profit you could have made by simply holding your crypto assets, instead of risking it and losing it trading. It seems all the learnship you are seeking doesn't worth the money you have already lost to this activity...

I remember trying trading bitcoin myself a long ago. Made tiny profit on the few first trades and got excited to continue. But then, someday I bought btc thinking the price would rise on that day yet (by reading the graphics, support, resistance lines), and the opposite happened. So I couldn't sell bitcoin anymore to continue trading, because it was pricing below the price I've bought.

I waited for few days and bitcoin price kept dropping. So I just gave up trading and held my purchased coins for undefined length of time (long term).

the learning process is unavoidable, in fact we sometimes have to give up our capital to trade, but from it all will shape our trading character which we can have by increasing experience in trading. therefore if we see successful people in trading, then we must be interested in the story to become successful, don't just see the results, and I think this is what makes many people tempted by the trading results of those who have been successful

I do trading and lose a lot of money but I never quit as I know that all of these things will happen as we are learning. It can't be perfect right away as it takes a few months or even a year to totally understand how trading works and of course, it takes time to develop and improve our skills. In fact, before these experts reach their position today, they had also suffered difficulties and emotional stress like what we feel. But because they aim to become a trader, they tried to deal with all of these things and yes, success is really waiting for them.

The risk of trading is very high and this is why even a winning trade can turn into a losing trade if you don't go off the market earlier enough to take your profit. Trading isn't for everyone, you need to have some qualities before you are able to do trading efficiently, like patient, being analytical to identify even little details, being a decision taker and money manager.

I only know people who lost money with binary options. Some of them are very regretful for trying that and trusting gurus on the internet who promised easy money by working few minutes every day from anywhere. But that should be expected since the beginning, since binary (and even trading) are luck games (gambling). Personally, I've tried binary with a demo account and felt insecure to go ahead with real funds, especially knowing the negative experience other people had.

And just to conclude, not everyone wants to trade. People are currently more aware about its risks than in years ago.

Borrowing to invest is risky because it may take a long time for our investments to grow and what if we pick up a wrong asset? We are only hoping that it will grow but the truth is it won't happen anymore. You are only going to stress yourself to think if how you can pay the money that you borrowed. This is why I think it's better to have a personal money even if it's small or even if it takes you time to obtain it.

Just don't look at the market for now if you don't have a funds yet so that you won't think of loaning money only to get in as quickly as possible. Demo trades are okay but we should think that live trading is slightly different but we can always start with small amount first.

To me you got attracted to what you found beneficial to people but since i noticed the lost although i have already install Binary app (MT5) in my system to start the journey with him during the locked down as we mostly living same street it was very easier for me to join him and learn but when the development came up and he said of losing such amount of money i was like if i could join him now what would i lose, so i made a reversed step and channeled back my efforts to study more things about cryptos.

I have started trading a long time ago, the first time I bought my own stocks was 14 years ago. In highschool we had a stock trading simulation sponsored by a bank where could trade a fake account for 3 months and win some prizes. After that I got so interested that I wanted to trade my on own and my parents helped me to setup my own account. At the same time I also started reading a lot of books about it, which also included futures and option trading. So when I joined university a few and me we started to trade futures on our first real brokerage account, with real margin calls. It went horribly wrong and we lost a lot of money and took a break from it for 1 year. I think it's normal for young interested students to try out a new forms of trading, especially when you have been profitable with trading vanilla products. The same thing happens in the crypto market, you make some money with your first few trades and don’t think anything can go wrong anymore. This lead me to take too much risk. My recommendation is to start trading anything more complex than the vanilla coins very small and get experienced first. As a beginner you should always start first in the sport market before switch to furutres and options. And even after many years of experience, there is not one perfect strategy that you can always follow to make a guarantee profit. Markets move very fast and we need to constantly reevaluate our strategies to see if anything changed and if we remain profitable with it.   

We all have different niche on how to earn in crypto. Trader or passive holder can both earn on each of their way. It's just that it depends on how you will execute the method you prefer. Not every time you can achieve that just buy, hold and get rich mindset you have. We have different cases and even if you don't sell there still has a chance that your token or project you are holding might not go up or be abandon on the process. Trading is the same, You all should be aware that not all technical analysis work all the time, It just increase the chance and will give you a clue when or will it go pump and dump. Fundamentals is one factor. This is why traders has different TA and also different perspective on the market.

This is a big question we need to ask those people that are so eager to make fast money without even getting a skill about trading. Some persons had heard about traders that are .making fantastic profits from the market but sometimes they choose to be like them without asking about the kind of skill the trader had undergo so far before getting to the point of success.
 Everybody want to be a trader before they thing there is a good opportunity to make fast money in trading but at the end make nothing.

When it comes to technical aspects or literally knowing trading then it would really be that hard.This isnt something that someone could easily deal off with but when it comes to making money or potential income

which you could able to make when you deal up, then this is one of the reasons on why certain people would really be ending up on trying it out.Results could really be entirely different on each person on which

there are ones who do succeed and there are ones who do really fail.Of course when we are still a noob then it wont really result out directly on positive.
results and outcomes would really differ and this would also depends on how you do deal with it.

These type of "everyone" topics makes me laugh too. I mean it’s obvious that we are not going to see everyone doing the same thing over and over again. Some people do it, and some people don't, I am not a big trader neither. I like holding for long term as well because it gives me ease of mind to know that I am going to make a profit eventually and I have to do absolutely nothing for it.

Not many people can understand that, or see the possibility in that, but that’s the reality. Just buy, hold, and get rich, it's literally that simple. Some people buy, see it go down, sell, and miss out when it goes even higher, and that’s their problem, if they waited, they would have profited.

I don't think it's "everyone" but more to certain people.

If this is about binary options trading, then this could be very bad. I personally haven't and I don't think I will. However, in my country, there was a very viral condition related to fraud in this binary case, even this case claimed many victims and became a topic of discussion for several weeks because it was related to a gambling fraud case under the guise of trading in binary options. So, if you want to start trading on binary, ensure that you have understood what the binary option is.

Nothing is perfect and nothing will be gonna be perfect, dude.
Never think that you can get the perfect trading strategy because we will never know actually where the market will be going on at the time. That is why there is no 100% true prediction of the market although we have analyzed the market based on the TA and also FA. However, at least, we have been making a serious analysis of the TA and FA as the basic things for us to do trading. Trading is not always gaining profits, we sometimes also face any loss. However, our trading strategy will be better if our profits are much higher than the loss.

I would say, your friend probably took all the right steps except one and that is borrowing to invest. I think that's one of the most important of them all although, I can imagine it being hard for him to have found this new way of making a fortune and funds seems to be the limiting factor for him, haven't studied all the ethics to trading and believing that his got what it takes to be a success trader.
Unfortunately, he forgot Al the risk factor and going live comes with a lot of emotion you never thought exist or didn't experience on the demo trade. You stand a chance of loosing and loosing for real.

Of course all who do that will surely face the same conditions.
Of course trading and gambling will always have risks, he should have understood the worst risk of losing that capital.
Most beginners will definitely be tempted by the benefits that can be obtained from trading in binary options.
Of course, who is not interested in big profits in a short time, especially those in a condition that makes them do anything to immediately make a profit.
But of course, if your guess is right, you will really make a profit, but if it is wrong, your capital will be automatically forfeited.
In my opinion, just confidence is not enough for trading, but we must also be wise and smart in allocating our money for trading.

I am not one of them so it is not everyone 

I love Buying but for the most? I kept Holding and very rare to trade(day trade if that is what i mean) because I am not good in TA and in giving lot of time on this.

I may called to be a HODLER? because this is much better and easy as I have extra funds to risk each time.

man I'm very surprised to know that 1500$ in your country's local currency can be 1 million, in my country it's not even 100,000 in my country's local currency, 1500$ = 90,000MT (local currency of my country) but anyway your friend you owe 1 million, that's a big amount of money that could land you in jail


Binary options is the same as gambling, there is nothing to trade, people are just playing. I'm sorry but I myself also years ago when I was learning to trade I once did binary options and lost my 12$ and stopped, but also later I realized that binary options is a game


I lost 12$, maybe I could have lost more, I only lost 12$ because I only had 12$ and these guys from binary options even call the client and insist that the person make deposits like 250$, I remember that at the time the guy from the binary options website kept calling me every day, and insisting on making deposits of 250$, something I didn't have.


once again: binary options are a game, don't even think about using it, as for the time to learn trade, it depends on each person, there are people who have all day to read books, videos, trading courses and there are other people that you don't have much time

People mistakenly believe that things will somehow workout when they begin to trade as this is the case in a great deal of the circumstances on their life, what they fail to recognize is that this happens because their friends and family members will help them in guiding them in getting good outcomes, but this kind of interference is not possible in the markets, you either know what you are doing or you do not, and if you do not then you will face tremendous losses.

^People do this because of generating a profit and that is all they want.
Trading or gambling is the same risk that you need to face but both have the same goal of making a profit, that profit is why people frequent this activity because they know it is a very easy way to gain profit. Because everyone wants to have extra income and they think trading is very easy for them, they did not know that if you lack knowledge on it and will probably be lost all your money in a single snap. Everyone wants to trade but the fact, trading is not meant for everyone.