Should trading be for the rich?

[Stepstowealth]

There are people who have learnt how to trade, practiced on demo accounts for long but have not had the money to try trading on the market, and so they have abandoned trading to try search for money first. While there are others who have too little income, that they cannot profit from the market trading, they are always worried about loosing and because of that they make mistakes with their technical analysis and end up loosing the little money they have. Should trading be exclusive to financially comfortable and rich because of how risky it is?

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[Dzwaafu11]

While there are others who have too little income, that they cannot profit from the market trading, they are always worried about loosing and because of that they make mistakes with their technical analysis and end up loosing the little money they have. Should trading be exclusive to financially comfortable and rich because of how risky it is?

If someone has the knowledge to do the technical analysis in trading but no money to do it, then it’s not for them at that moment because you must have money before you start trading, and those who have the knowledge but are scared of losing the little money they have also don’t have to worry about it; they can still wait until they have the funds to trade. There is no rush in the industry. And if they make mistakes in their technical analysis, then they definitely still need more knowledge before they trade to avoid too much loss; it will not be motivating.
 
However, trading is not only for the rich; everybody needs funds to live, so we need to take the risk and make it as far as we are ready to make money. Any business has risks, so for us to be successful, we must take the risk. The only thing that I will advise both the poor and rich is that we should use the amount we can afford to lose. Because even the rich cannot afford to lose all the time because of the risk it takes.

[Zaguru12]

Let’s take it like this, trading should be like a business, even if you have the knowledge but no capital you shouldn’t invest, even if you have the capital but isn’t much to start then start small and gain little profits as time goes on and you grow with experience it will expand. If you also have the capital even if it’s excess but you’re afraid you will lose, first advice is to run trading isn’t basically the only thing you can simply just invest or say hold for long and you will still earn your profits. Second advice you should give it a try since everyone starts with a fear and later conquers it

[GreatArkansas]

Should trading be exclusive to financially comfortable and rich because of how risky it is?

Maybe we can say, "Trading is not for everyone".
I know the feeling of difficult when you want to start trading but you don't have any extra funds or have financial difficult.
But for me, it will not be an excuse if you are really willing to trade and start, the demo account is correct, next you can find some money by working some gigs in internet, so you can use the fund you earned to start trading.

[Assface16678]

There are people who have learnt how to trade, practiced on demo accounts for long but have not had the money to try trading on the market, and so they have abandoned trading to try search for money first. While there are others who have too little income, that they cannot profit from the market trading, they are always worried about loosing and because of that they make mistakes with their technical analysis and end up loosing the little money they have. Should trading be exclusive to financially comfortable and rich because of how risky it is?

No, of course not. That's why there is trading to give opportunity to people that want to earn using their assets, like bitcoin or other crypto currency. It may be good that you have a lot of capital before trading because the more the deposit, the bigger the equity, so you will have a big margin in your trade. But that's not it. That's why knowledge, training, and patience are important in trading so that even enough capital and equity will lead you to earn, and that's going to depend on the skill of a trader. Let's say you have a lot of capital because you are rich and are just placing trades in the market. Let's say the trader is educated and has experience. Yes, he could earn because he has a lot of equity, but still, it is not guaranteed. The same as the middle class or having enough equity, we all can lose money or capital in trading, but the effect depends on their status in life. It may be harsh, but yes, having a lot of equity or capital is an advantage in trading, as having limited equity could make trading too risky.

[Wexnident]

There are people who have learnt how to trade, practiced on demo accounts for long but have not had the money to try trading on the market, and so they have abandoned trading to try search for money first. While there are others who have too little income, that they cannot profit from the market trading, they are always worried about loosing and because of that they make mistakes with their technical analysis and end up loosing the little money they have. Should trading be exclusive to financially comfortable and rich because of how risky it is?

Not technically only the rich, you just have to have capital for it. And well, the amount of capital is pretty subjective depending on what your goal is so it's pretty flexible, granted profits grow/reduce depending on said capital though. As for losing money well, it all comes down to the scale of how much you want to grow the capital. The more risks you take, the greater the growth, but the greater the risk and vice versa.

As for the worry of losing your capital, that always exists in any venture whether it be investments, businesses, and whatnot. It's always there and hence why it's called capital. It's supposed to be spent for "something" so always consider it money lost really and don't expect to use it for something else.

[rat03gopoh]

While there are others who have too little income, that they cannot profit from the market trading, they are always worried about loosing and because of that they make mistakes with their technical analysis and end up loosing the little money they have.

Popular quote, "trade the amount you can afford to lose".
Exchanges allow small deposits which means trading is affordable even for retail traders. The crypto market has greater volatility than other markets, even with small cap you have the same opportunities as large cap. It should be noted that profit in this case refers to a percentage of cap, not based on the amount of cap.

[Oshosondy]

There are people who have learnt how to trade, practiced on demo accounts for long but have not had the money to try trading on the market, and so they have abandoned trading to try search for money first. While there are others who have too little income, that they cannot profit from the market trading, they are always worried about loosing and because of that they make mistakes with their technical analysis and end up loosing the little money they have. Should trading be exclusive to financially comfortable and rich because of how risky it is?

If you have little amount of money that you can afford to lose to trade, then why not trade. But rich people have their advantage and they have the money that can help them not to leverage. Leveraging can be tempting people that have little amount of money to trade, but the simple rule is that do not use leverage, but if you want to use it, use low leverage. People that use high leverage will most likely lose, be it rich, average or poor person.

[komisariatku]

There are people who have learnt how to trade, practiced on demo accounts for long but have not had the money to try trading on the market, and so they have abandoned trading to try search for money first. While there are others who have too little income, that they cannot profit from the market trading, they are always worried about loosing and because of that they make mistakes with their technical analysis and end up loosing the little money they have. Should trading be exclusive to financially comfortable and rich because of how risky it is?

Trading is not just for rich people, but trading is for people who have money. Anyone can try trading, but relying income from trading activities will be very risky, in my opinion, rather than dreaming too much about trading, it is better for us to try to increase our monthly income and after we have financial stability then we try trading. I think that makes more sense

Trading can actually be done with small capital, but of course the results will also be small. In my opinion, forcing yourself to trade when you don't have capital and a stable monthly income is a bad choice. Actually, I prefer to be a bitcoin holder rather than a trader, because in practice it is easier and we can buy bitcoin from our monthly income.

[livingfree]

There are people who have learnt how to trade, practiced on demo accounts for long but have not had the money to try trading on the market, and so they have abandoned trading to try search for money first. While there are others who have too little income, that they cannot profit from the market trading, they are always worried about loosing and because of that they make mistakes with their technical analysis and end up loosing the little money they have. Should trading be exclusive to financially comfortable and rich because of how risky it is?

No.

While the advantage is on the rich people because they have capital. But please don't make it look like something that it should be exclusive for them. This is one of the good sides of trading, it's an open market and even the fortunate and unfortunate people financially can join and collab on this market.

The risk is there given that there are winners and losers on trading. Those that want to trade but for now can't, you can study how it goes for you to learn until you have your capital to start.

[AmoreJaz]

There are people who have learnt how to trade, practiced on demo accounts for long but have not had the money to try trading on the market, and so they have abandoned trading to try search for money first. While there are others who have too little income, that they cannot profit from the market trading, they are always worried about loosing and because of that they make mistakes with their technical analysis and end up loosing the little money they have. Should trading be exclusive to financially comfortable and rich because of how risky it is?

Trading is not just for rich people, but trading is for people who have money. Anyone can try trading, but relying income from trading activities will be very risky, in my opinion, rather than dreaming too much about trading, it is better for us to try to increase our monthly income and after we have financial stability then we try trading. I think that makes more sense

Trading can actually be done with small capital, but of course the results will also be small. In my opinion, forcing yourself to trade when you don't have capital and a stable monthly income is a bad choice. Actually, I prefer to be a bitcoin holder rather than a trader, because in practice it is easier and we can buy bitcoin from our monthly income.

this is the advantage of crypto trading. most trading platforms are allowing you to trade for as low as 10 bucks. so yeah, it is not for the rich only but also to those people who have more than enough and has the interest to go into trading. if you don't have passion on this activity, better not get into this as you will suffer mental stress and the likes. remember, if you don't like what you're doing, it will seem like forever doing one simple task.
this is why i like crypto over forex. because in forex trading, you definitely need more than 10 bucks to start your journey. in crypto, you can even find other alts that you can trade in small amounts. i believe this market is a very good opportunity for people to learn trading with very small capital needed.

[ItsCrafty]

Trading is very risky but there is some thing required for trading which will make your trading as success.furst of all need knowledge about trading after that need money but money should be extra of your pocket after that trading should be do as part by part now invest all money in one coin when you just buy a coin do not penic just wait with patience for the right time to take profit

[UchihaSarada]

Should trading be exclusive to financially comfortable and rich because of how risky it is?

It is not for the rich.

When you are poor, you want to be rich and because you want to get rich quickly, you don't have enough patience to work and get rich gradually, you accept to take risk, high risk. You take risk with trading, take high risk with Margin trading or Futures trading.

When you are rich already, you will have less interest to take too much risk because only 1% or 5% increase of your portfolio is already very great for your wealth. You don't have to take high risk when you are poor. If you continue to take high risk, you can become poor again when risk knocks you down.

[EarnOnVictor]

There are people who have learnt how to trade, practiced on demo accounts for long but have not had the money to try trading on the market, and so they have abandoned trading to try search for money first. While there are others who have too little income, that they cannot profit from the market trading, they are always worried about loosing and because of that they make mistakes with their technical analysis and end up loosing the little money they have. Should trading be exclusive to financially comfortable and rich because of how risky it is?

The answer is No, trading is for everybody, just find your way around anything you think is the obstacle.

Fine, almost all the exchanges I know do not allow a demo account, but this still does not stop anybody from starting small. If a well-prepared trader or the rich ones are trading with big money, why can't you start with a very small amount to learn the market trading and also get conversant with the trading platform before depositing big later?

The traditional Forex brokers allow a demo account, maybe you would start from there just like I did, and if you are well stable with your income, you might move to exchanges and deposit a little amount for further training on their platform instead of missing out entirely thinking trading is only for the rich. Even with just $5 or lower, you can trade without obstruction with both Forex brokers and crypto exchanges.

[hd49728]

Fine, almost all the exchanges I know do not allow a demo account, but this still does not stop anybody from starting small. If a well-prepared trader or the rich ones are trading with big money, why can't you start with a very small amount to learn the market trading and also get conversant with the trading platform before depositing big later?

Demo account for trading can not help too much for your actual trading. Very few people can use what they learn from Demo account trading to actual trading. Because when they use their own money and chase profit, they let greediness controls their decisions. So knowledge, experience with Demo trading can not help them. With actual trading, they will have to face with fud in the market too and as newbies they will mostly fail.

The traditional Forex brokers allow a demo account, maybe you would start from there just like I did, and if you are well stable with your income, you might move to exchanges and deposit a little amount for further training on their platform instead of missing out entirely thinking trading is only for the rich. Even with just $5 or lower, you can trade without obstruction with both Forex brokers and crypto exchanges.

Forex market is different than Bitcoin market but there is one common thing. Leverages, in both markets, traders can use very high leverages but if they do this, they are doing bad practice that will cause big losses for them. So if they fail in Forex market with leverage, they can not succeed in Bitcoin market. If they succeed in Forex market, it is not a guarantee that they can succeed in Bitcoin market that is harsher than Forex market.

[Yamane_Keto]

Since it is possible to trade amounts starting from $100 and make profits from them, then trading will be available to everyone, but to achieve wealth you may need to wait a longer time than someone who has $50,000 and wants to achieve wealth, but in the long run, trading may enhance your surplus funds and thus improve your living situation and your investment portfolio more than a substitute for a job, which cannot be replaced by full-time trading. Everyone in life aims to improve the quality of their life, and trading may be one of the ways that may improve the quality of your life, which is not limited to the rich, but you must do it with money that you do not need soon or as an alternative to a full-time job.

[yudi09]

OP. Trading is not just for rich people but for people who can afford it and people who are ready to lose money.

There are people who have learnt how to trade, practiced on demo accounts for long but have not had the money to try trading on the market, and so they have abandoned trading to try search for money first.

This is true because without real money trading cannot be done. When a person who leaves trading to make money when he returns to the market he already has knowledge about how to trade.
Moreover, he needs to apply a trading strategy to minimize trading risks by selecting potential coins to trade in the type of trading he masters and using the best methods in reading market situations.
Trading in a type of trading that is not mastered can have a bad impact on one's finances. It is not profits but losses that will be experienced.

[Lakai01]

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Should trading be exclusive to financially comfortable and rich because of how risky it is?

No, why should it be?
If someone practices sensible and detailed risk management, it doesn't matter whether you trade with $10, $100 or $100,000. What is important here is that you set percentages of your available capital and stick to them.
This is especially true for newcomers to the market. They tend to quickly put a lot (or everything) on one card when making trades. If the trade then goes wrong, they have not only lost everything but also burnt their fingers so badly that they will probably give up trading for a long time to come.


In terms of profits, it also makes no difference whether you have a lot of money available or not. For someone who, for example, has a monthly income of 100$, 10$ profit from trading is an enormous amount. For someone who has 100 BTC in their wallet, of course not. However, they will probably stake exactly the same amount in percentage terms as someone with less money, which means that their profits are the same compared to the capital invested.

[KingsDen]

There are people who have learnt how to trade, practiced on demo accounts for long but have not had the money to try trading on the market, and so they have abandoned trading to try search for money first. While there are others who have too little income, that they cannot profit from the market trading, they are always worried about loosing and because of that they make mistakes with their technical analysis and end up loosing the little money they have. Should trading be exclusive to financially comfortable and rich because of how risky it is?

First, trading is not for everyone, this is one truth everyone has to know in order not to get into troubles with the cryptocurrency market.

Secondly, trading has something to do with the volume of capital. No matter how experienced you are as a trader, you may never make a fortune with $5 capital, no matter the leverage you use.

Thirdly, it is no all about the money. You may have the money but if you don't know how to trade, 24hrs is enough to blow $10k

[idarasun]

Let’s take it like this, trading should be like a business, even if you have the knowledge but no capital you shouldn’t invest, even if you have the capital but isn’t much to start then start small and gain little profits as time goes on and you grow with experience it will expand. If you also have the capital even if it’s excess but you’re afraid you will lose, first advice is to run trading isn’t basically the only thing you can simply just invest or say hold for long and you will still earn your profits. Second advice you should give it a try since everyone starts with a fear and later conquers it

Yes, that's how it is, in addition, if you want to start doing it, do it very carefully and it's better if it's scheduled (scheduled) because according to several experts I've researched, they say so and I've implemented that.