Why does everyone want to trade?

[deathcode]

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.

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.

[Mr.right85]

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.

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.

[kawetsriyanto]

Why does everyone want to trade?

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

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?

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.

How long do you think to learn to be perfect in trading generally both binary options and spot trading or any other trading?

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.

[sana54210]

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.

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.

[carlfebz2]

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.

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.

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.

[Wakate]

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.

[abel1337]

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.

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.

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.

[Mauser]

How long do you think to learn to be perfect in trading generally both binary options and spot trading or any other trading?

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.   

[MainIbem]

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.

[lixer]

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.

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.

[uneng]

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.

[palle11]

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

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.

[Yamifoud]

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

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 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.

[Xampeuu]

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

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 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 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

[uneng]

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

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 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.

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).

[serjent05]

So my question is; does those who started trading on binary faces this same issues?

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.

And if yes how much have you lost so far?

I avoid this kind of trading so I lost nothing 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?

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.

[LUCKMCFLY]

In the country I'm in, it's very difficult for a normal job to earn decently to be able to lead a quiet life, a salary here is equivalent to 1 day's salary in a developed country, here people have to find other ways of working and one that is very easy, but that requires a lot of knowledge is trading, however not everyone takes risks, because you always have to put money there and only in that way can you do something, but when there is risk you can lose , many people run away and do not do it, but I think that for many trading is a great option for victories, of course it requires a lot of study and dedication.

[Silberman]

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

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 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 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

And that is why so many newbies lose their money to scammers, they want to avoid the learning process and this is not possible, all the expert traders which have traded stocks for decades and which are legendary for their accomplishments were not born that way, they also made the same mistakes many of us did or still do, the difference is they did their best effort to learn from them and eventually they became experts at what they do, but newbies want to skip all of this and they believe that by following signals and pump and dump groups they will reach their goals, something that we know will never happen.

[tvplus006]

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

And that is why so many newbies lose their money to scammers, they want to avoid the learning process and this is not possible, all the expert traders which have traded stocks for decades and which are legendary for their accomplishments were not born that way, they also made the same mistakes many of us did or still do, the difference is they did their best effort to learn from them and eventually they became experts at what they do, but newbies want to skip all of this and they believe that by following signals and pump and dump groups they will reach their goals, something that we know will never happen.

It would be naive for a beginner to expect that he can be smarter than those who graduated from Harvard and Oxford, who manage multimillion-dollar funds. And if at some point they manage to take ten dollars from them, then next time they will certainly lose ten times more.

[TheUltraElite]

I think that this desire is quite understandable - it allows you to make a profit. And I think it's really worth considering.

That is why gambling in any form becomes tempting to any person, the emotion involved here is greed which needs to be controlled.

The OP's relative did not do pure spot trading but binary options which is a type of prediction game. These companies that run such schemes have demo accounts first to allow you to try the game, but often such demo accounts are rigged to show that you gain a lot instead of losing a lot, often shown by youtubers who promote these apps. This temptation leads to them deposit real money and then run the game where in they lose a lot of money.

Spot trading on the other hand needs a lot of homework - analyzing charts, observing patterns of movement and checking current indicators before placing orders.