Why does everyone want to trade? - page 9.

Rengga Jati

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Quote from: MainIbem on October 30, 2022, 05:11:23 PM

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?

People want trading because they want get the profits. Actually, trading cryptocurrency in the spot or future with knowledge, experience, and also good management will be okay. However, the problem is if we are trading without any knowledge, taking loans for trading, and not learning anything before trading. These are mistakes that we make first before trading. We always expect profits, but trading in this situation will not make you profits, exce[t you are a too lucky person. And I don't believe that someboady will be always lucky every time in their life.
Moroever if trading in Binary option,this is gambling, mate.

ultrloa

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Quote from: goaldigger on November 03, 2022, 05:19:25 PM

Quote from: Zilon on November 03, 2022, 04:03:34 PM

Quote from: MainIbem on October 30, 2022, 05:11:23 PM

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.

For perfection in trading it will cost the trader more study and less trading. It will also require patience and determination and lastly it will take building strategy and improving on them. But all this doesn't apply to binary option. Most binary traders apply the same technical analysis spot and future use but 70% of the times those analysis don't work because of the short expiration range, giving it lesser time for the analysis to fit in to the binary option trading

It can took years before you finally understand trading and it’s indicators, it is indeed a big sacrifices and a big preparation for the good days. Trading can be more challenging in Binary option where the time is very limited to analyze and the probability to lose are very high so better to know what timeframe do you prefer to trade and make a strategy that can work for you, trading is not a competition though so take your time building a good fundamental.

Other people been hype up for certain condition that other people earn while they are struggling then they try their best to replicate what other people earned from that day. Most of this can cause them losses if they pressure theirselves because they see others earn good profits in a day. So taking it slow while they are new is best thing to do because for learning some strategy which is suitable for them could help them big to build up a good career in trading.

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Quote from: goaldigger on November 03, 2022, 05:19:25 PM

Quote from: Zilon on November 03, 2022, 04:03:34 PM

Quote from: MainIbem on October 30, 2022, 05:11:23 PM

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.

For perfection in trading it will cost the trader more study and less trading. It will also require patience and determination and lastly it will take building strategy and improving on them. But all this doesn't apply to binary option. Most binary traders apply the same technical analysis spot and future use but 70% of the times those analysis don't work because of the short expiration range, giving it lesser time for the analysis to fit in to the binary option trading

It can took years before you finally understand trading and it’s indicators, it is indeed a big sacrifices and a big preparation for the good days. Trading can be more challenging in Binary option where the time is very limited to analyze and the probability to lose are very high so better to know what timeframe do you prefer to trade and make a strategy that can work for you, trading is not a competition though so take your time building a good fundamental.

When it comes to crypto trading, you also need to be familiar with the project that you are trading with.
Despite knowing those TAs or FAs, one vital aspect is knowing where the coin is heading to.
This is why, it would take months or years to understand the crypto market as each coin or token has their own features.
There is no concrete market performance for each of them. Giving hard time for newcomers to understand what's going on.

goaldigger

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Quote from: Zilon on November 03, 2022, 04:03:34 PM

Quote from: MainIbem on October 30, 2022, 05:11:23 PM

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.

For perfection in trading it will cost the trader more study and less trading. It will also require patience and determination and lastly it will take building strategy and improving on them. But all this doesn't apply to binary option. Most binary traders apply the same technical analysis spot and future use but 70% of the times those analysis don't work because of the short expiration range, giving it lesser time for the analysis to fit in to the binary option trading

It can took years before you finally understand trading and it’s indicators, it is indeed a big sacrifices and a big preparation for the good days. Trading can be more challenging in Binary option where the time is very limited to analyze and the probability to lose are very high so better to know what timeframe do you prefer to trade and make a strategy that can work for you, trading is not a competition though so take your time building a good fundamental.

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Quote from: AicecreaME on November 03, 2022, 07:56:25 AM

Binary option is a different case compare to cryptocurrency trading. Binary option trading is more simple by betting on "buy" or "sell" in a certain timeframe, but it is addictive and the easiest way of losing money if you have no luck or not enough knowledge on what to do.

While in cryptocurrency trading, you'll buy a cryptocurrency to trade and could gives you profit in the long term if you invested on a good coin even if you don't trade in futures, which is also risky if you're not knowledgeable about it.

Trading is a good way of earning money, you are your own boss, and there's no limit on what you could earn unlike being an employee, that's why everyone wants to do it but it is hard for those doesn't have a lot of patient on learning.

Binary would be way too bad for a newbie, I would not suggest that at all. I mean it's obvious that we are going to end up seeing a lot of people who will try it just to make a lot of money very quickly but we are going to see them lose it instead of win anything.

Why would you do something so risky when there is spot trading and long term investment and DCA available as information and knowledge and proven to be making more money to people compared to all other risky and low chance stuff? I personally just accumulate, and I am greatly happy about it, all these people who do futures, binary and other risky stuff are losing money most of the time and it’s definitely a wrong move.

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Quote from: MainIbem on October 30, 2022, 05:11:23 PM

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.

For perfection in trading it will cost the trader more study and less trading. It will also require patience and determination and lastly it will take building strategy and improving on them. But all this doesn't apply to binary option. Most binary traders apply the same technical analysis spot and future use but 70% of the times those analysis don't work because of the short expiration range, giving it lesser time for the analysis to fit in to the binary option trading

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Quote from: Minecache on November 03, 2022, 09:14:08 AM

OP is not talking about trading he is talking about binary options and it is a form of gambling disguised as trading, so his friend or any other player losing is natural.

If someone were to reply for reading the thread title, then obviously that would be misleading as the question is:

Quote from: Minecache on November 03, 2022, 09:14:08 AM

I have not tried with binary options but I know many people who play it and I can assure you that no one can win. In my opinion binary options don't need any knowledge, you just need to use your luck to make profit, we only have 2 options: increase or decrease in a certain period of time.

Even if you know how it works, I don't think you should try it. I would say that binary options are the easiest way to lose money even it is much easier than we think. Many people in my country including some friends are starting to realize that this is a form of gambling in other words because they don't really do any analysis as there are only two options. I probably wouldn't say it's a gamble, but honestly I would avoid it.

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We all want to trade because we think it's very easy way to make money. That was my believe too when I started trading, I left after losing money 🤑

Sorry to hear about your loss. But if you greed for money, then definitely anyhow you will end up making losses. Yours motive should not be focused only on making money by taking risks, you should always calculate the risk and then trade. Without proper knowledge if you just underestimate the market and place trades then no one can stop you from making losses. Before trading with real money, observe and analyse the market first and then go with real money. In short every one want to trade in order to increase their money.

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Quote from: Minecache on November 03, 2022, 09:14:08 AM

Quote from: pawanjain on November 02, 2022, 12:46:28 PM

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.

OP is not talking about trading he is talking about binary options and it is a form of gambling disguised as trading, so his friend or any other player losing is natural. I have not tried with binary options but I know many people who play it and I can assure you that no one can win. In my opinion binary options don't need any knowledge, you just need to use your luck to make profit, we only have 2 options: increase or decrease in a certain period of time.

As far as I know binary options is similar to trading itself with the catch that we have to predict the price of the asset in next few minutes.
So yes, we do need a little knowledge about the current price, volatility, volume etc... because these things will help us "predict" the price better.

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Quote from: RockBell on November 03, 2022, 03:34:33 AM

People who are new to trading believe they can start investing and making money right away, to the point where they borrow money to invest because they don't see any other options. They also believe that choosing binary options is a win-or-lose game with completely different risks for novice traders. In my opinion, this is not the best course of action. If you decide to start trading, you must be willing to lose money in order to gain experience.Should learn to manage risk.

If they borrow money to invest, it will put them at risk because of the crypto market movement. No one knows when the price will go up or down.
Even though they still believe they can repay the loan, it's better not to start, but if they insist on trying, that's up to them.
Many people want to try trading because they are tempted to see the social accounts of their friends who have tried trading.
I'm sure their friends will often upload pictures of their profits, although we don't know if their profits are real or fake.
But preferably before people start trading, they should learn basic lessons about trading until they really understand how to trade properly and correctly, including how they can analyze it well.

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Quote from: MainIbem on October 30, 2022, 05:11:23 PM

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.
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.

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.

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.

Beginning with options trading is a big risky move though and demo account may not represent the actual skill of a trader because while doing trading with real money the emotions plays a vital role and if I am not wrong your friend used some of the apps to do this instead of the traditional exchanges which also can be a reason cause they selectively scam people even many popular ones were exposed after years of research about their activities.

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Quote from: MainIbem on October 30, 2022, 05:11:23 PM

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.
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.

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.

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.

There is a big difference in trading a demo account and also trading a real account.
Binary has a sister account (DERIV) and I have been trading on DerivGo account for almost a year now and I have been trading synthetic indices proudly.
There are win days and also bad days, but the ability to recognize your bad days and taking a break is a key virtue in trading regardless of the broker you use.
I made a million naira($2300)in deriv in less then 48 hours and there was also a day I lost $400 and I had to take a break for almost a week just watching how the market behaves(also took some very short trade to make small gains during my waiting time).

Most times after practicing with demo account we then move to real account and then trade with our emotions wit Al hopes to make profit and along the way we trade desperately and start making loss,
When the loss gets much , we tend to increase our trades a d expose them to more risk, hence indulging in revenge trade with most times, ends in great tears.

There are times one might trade and make lots of losses and think the markets are been manipulated, but no binary isn't neither is deriv but my advice is that we should always learn the basis of a trade before indulging in them.

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Quote from: MainIbem on October 30, 2022, 05:11:23 PM

...Please share as I almost fall victim of joining him but he lost made me to lost interest.

Even if you get full theoretical knowledge, without proper practice, this knowledge will not bring you profit. In addition, not every trader can adhere to the rules that require him to keep a deposit, which leads to a loss of money. In such cases, trading turns into a casino, and success in trading no longer depends on you.

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Quote from: pawanjain on November 02, 2022, 12:46:28 PM

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.

OP is not talking about trading he is talking about binary options and it is a form of gambling disguised as trading, so his friend or any other player losing is natural. I have not tried with binary options but I know many people who play it and I can assure you that no one can win. In my opinion binary options don't need any knowledge, you just need to use your luck to make profit, we only have 2 options: increase or decrease in a certain period of time.

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The fact remain that everyone needs an additional financial flows and most attempt to trade to increase their capital but without a proper guideline and to my own perception not everyone that are truly ready to trade but they want income to flowless come without working for it. In as much as they are in crypto trading or any form of trading information and passion is being required to excel in their trading journey.

AicecreaME

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Binary option is a different case compare to cryptocurrency trading. Binary option trading is more simple by betting on "buy" or "sell" in a certain timeframe, but it is addictive and the easiest way of losing money if you have no luck or not enough knowledge on what to do.

While in cryptocurrency trading, you'll buy a cryptocurrency to trade and could gives you profit in the long term if you invested on a good coin even if you don't trade in futures, which is also risky if you're not knowledgeable about it.

Trading is a good way of earning money, you are your own boss, and there's no limit on what you could earn unlike being an employee, that's why everyone wants to do it but it is hard for those doesn't have a lot of patient on learning.

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Quote from: RockBell on November 03, 2022, 03:34:33 AM

People who are new to trading believe they can start investing and making money right away, to the point where they borrow money to invest because they don't see any other options. They also believe that choosing binary options is a win-or-lose game with completely different risks for novice traders. In my opinion, this is not the best course of action. If you decide to start trading, you must be willing to lose money in order to gain experience.Should learn to manage risk.

To get started, they must understand what the basics are including the difference between investing and trading. Many beginners misunderstand these two things, and they often say trading is an investment so they will find it very difficult to control their emotions.

If someone asks me to teach them to trade, then I prefer to ask them to learn about these two things first so they can be consistent towards their goals. Trading is something that is very likely to make beginner's mindset change quickly due to the volatility of the price, and this will probably lead to the reason why they lose in the end. Even if investing and trading have the same end goal (profit) then I think the strategy and management are very different.

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People who are new to trading believe they can start investing and making money right away, to the point where they borrow money to invest because they don't see any other options. They also believe that choosing binary options is a win-or-lose game with completely different risks for novice traders. In my opinion, this is not the best course of action. If you decide to start trading, you must be willing to lose money in order to gain experience.Should learn to manage risk.

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Quote from: MainIbem on October 30, 2022, 05:11:23 PM

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.
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.

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.

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.

Most of the people I know who have no experience in trading will most likely say that trading is just buying low and selling high, and they say it is very simple to them and they can easily earn profit from the market. They want to trade because they can make a lot of money, but that doesn't mean that it will be easy. Trading is also a battle of patience and effort, and you need to gain more knowledge about the coin you are trading, whether it's about fundamentals or technical analysis. It will also take a lot of time and practice. I have a lot of friends who have been trading for a year or more, but they are still reading books and practicing their strategies so that their win rate will be higher. Trading sounds easy to learn, but trust me, when you start learning it, if you don't have patience, you will be quitting along the way.

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Many consider trading platforms to be very simple. Are trading platforms really that easy? I have seen that there are some people who are very fond of trading on trading platforms. They start trading directly without doing any analysis and without observing the market and from there take huge losses. There are also some people who make a profit in one or two trades and consider themselves to be very skilled traders. And later they lose it there. My point is though people think trading platform is very easy but trading platform is not that easy. To be successful in trading, you must be skilled and experienced. You need to know and analyze every strategy and every aspect of the trading platform. Only then you can be considered a successful trader and profit from the trading platform. Although everyone wants to test the trading platform, the trading platform is not easy for everyone.

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