Trading is like more like gambling if...

[Yeesha]

Indeed, if traders and gamblers kept detailed records of the money they spent and the money they earned throughout their trading journey. They will probably be surprised by the actual results.

Both traders and gamblers make a mistake: they quickly forget their losses or treat them as tuition fees needed to become professional. But they clearly remember their small winning trades and see them as proof that they are on the right path. This selective memory makes them believe they are overall profitable. But in reality, when everything is added up, most of it ends up as losses.

Both gamblers and traders are human beings, and making mistakes is part of being a human, because that is what makes them human. Moving on from loss is actually important but forgetting it totally is the worst mistake. As a trader sticking to one lost will prevent the trader from making new plans or taking the next step. And forgetting loss easily will only makes a gambler or trader to make more mistakes because as a result of that they will develop the mindset of unrealistic expectations and that's going to motivate them to risk more than they can afford to lose.

[BALIK]

you understand first learn than earn most people don't understand but continue losing it's gambling trading is
a skill so first learn and work in demo minimum 2 years than earn it's trading.

That's too long to learn for the demo for 2 years as the minimum of it.

But I respect if that's how long you've learn and that likely assures that you've learn before you get into trading.

Others are thinking they can master it within weeks and a couple of months but it's not that easy.

With that period of how convenient it is for one to learn how to trade, it's best to use real money that they can afford to lose because that pushes them to actually learn how it works.

Frankly, practicing on a demo account for at least 2 year is too long and a waste of time.

You will not learn much from it because it is completely different from real trading. With a demo account, you will not have to face psychological pressure, fear, or greed. This means that when you switch to real trading, you will almost have to relearn everything from scratch.

The demo account should only be used for a short period and only to get familiar with trading execution. This is not the place to learn analysis, risk management or emotional control because it is not real money and everything you experience is simulated. 

[LastKiss]

you understand first learn than earn most people don't understand but continue losing it's gambling trading is
a skill so first learn and work in demo minimum 2 years than earn it's trading.

That's too long to learn for the demo for 2 years as the minimum of it.

But I respect if that's how long you've learn and that likely assures that you've learn before you get into trading.

Others are thinking they can master it within weeks and a couple of months but it's not that easy.

With that period of how convenient it is for one to learn how to trade, it's best to use real money that they can afford to lose because that pushes them to actually learn how it works.

Frankly, practicing on a demo account for at least 2 year is too long and a waste of time.

You will not learn much from it because it is completely different from real trading. With a demo account, you will not have to face psychological pressure, fear, or greed. This means that when you switch to real trading, you will almost have to relearn everything from scratch.

The demo account should only be used for a short period and only to get familiar with trading execution. This is not the place to learn analysis, risk management or emotional control because it is not real money and everything you experience is simulated. 

Indeed, the feeling is 100% different when we use real money for trading, a demo account is very useful for traders to familiarize themselves with the platform features. Although we can test our technical analysis skills there but just like you said, the psychological pressure is completely different. Some traders become greedy after losing a trade while in demo mode, you don't really feel anything when you lose.

In my opinion it's better to trade with real money but make sure the amount you use is small enough that losing it won't affect you too much and developing self control takes time even experienced traders still struggle with it. Trading also able to make us addicted to it just like how gambling make us addicted.

[Wind_FURY]

If you lack the ability to do research and acquire knowledge then there is no need for trading because the risk is huge when the reality hits you, you lose everything you have onces.

Trading are for professionals and those that are very calculative in prediction and in other for you not to be a gambler to trading, then you have to acquire more knowledge in trading than just wanting miracle to happen.

That's actually NOT enough for plebs like us. There was actually a study/research that even if plebs like us "acquired" more knowledge through research, trading courses and through other resources, our probability of actually making a meaningful amount of money consistently would still be the same as if we didn't acquire any knowledge.

   ¯\_(ツ)_/¯

HODL Bitcoin is our only path to success in crypto.

[DPHOR]

If you lack the ability to do research and acquire knowledge then there is no need for trading because the risk is huge when the reality hits you, you lose everything you have onces.

Trading are for professionals and those that are very calculative in prediction and in other for you not to be a gambler to trading, then you have to acquire more knowledge in trading than just wanting miracle to happen.

That's actually NOT enough for plebs like us. There was actually a study/research that even if plebs like us "acquired" more knowledge through research, trading courses and through other resources, our probability of actually making a meaningful amount of money consistently would still be the same as if we didn't acquire any knowledge.

   ¯\_(ツ)_/¯

HODL Bitcoin is our only path to success in crypto.

You know the most important thing in the space is to discover where suits them the better than jumping from trading to trades with intentions of making specific amount while trading without knowing that many people could make profits more than those who are trading. Of course, trading is not that easy if I may say but this depends on the market they are solely trading on.
Knowledge is essential in trading but then how do you deploy the right strategy to work perfectly for the trader is what matters most and that's where patient will be truly displayed.

[fredericktaylor]

If you lack the ability to do research and acquire knowledge then there is no need for trading because the risk is huge when the reality hits you, you lose everything you have onces.

Trading are for professionals and those that are very calculative in prediction and in other for you not to be a gambler to trading, then you have to acquire more knowledge in trading than just wanting miracle to happen.

That's actually NOT enough for plebs like us. There was actually a study/research that even if plebs like us "acquired" more knowledge through research, trading courses and through other resources, our probability of actually making a meaningful amount of money consistently would still be the same as if we didn't acquire any knowledge.

   ¯\_(ツ)_/¯

HODL Bitcoin is our only path to success in crypto.

You know the most important thing in the space is to discover where suits them the better than jumping from trading to trades with intentions of making specific amount while trading without knowing that many people could make profits more than those who are trading. Of course, trading is not that easy if I may say but this depends on the market they are solely trading on.
Knowledge is essential in trading but then how do you deploy the right strategy to work perfectly for the trader is what matters most and that's where patient will be truly displayed.

Achieving success through trading is not easy or quickly of course, it is very important for a person to have knowledge about trading. Most people start trading with the hope of making quick money but there are very few people who can trading correctly by using the right knowledge or strategy and survive till the end. However, a persons right knowledge strategy and patience can play a big role in achieving success through trading. It is better for us to leave greed or emotion and start trading with the right knowledge or strategy, as a result of which big losses can be avoided.

[boyptc]

you understand first learn than earn most people don't understand but continue losing it's gambling trading is
a skill so first learn and work in demo minimum 2 years than earn it's trading.

That's too long to learn for the demo for 2 years as the minimum of it.

But I respect if that's how long you've learn and that likely assures that you've learn before you get into trading.

Others are thinking they can master it within weeks and a couple of months but it's not that easy.

With that period of how convenient it is for one to learn how to trade, it's best to use real money that they can afford to lose because that pushes them to actually learn how it works.

Frankly, practicing on a demo account for at least 2 year is too long and a waste of time.

You will not learn much from it because it is completely different from real trading. With a demo account, you will not have to face psychological pressure, fear, or greed. This means that when you switch to real trading, you will almost have to relearn everything from scratch.

The demo account should only be used for a short period and only to get familiar with trading execution. This is not the place to learn analysis, risk management or emotional control because it is not real money and everything you experience is simulated. 

If that's what worked for him and realistic, I'm giving him the benefit of the doubt because it's really possible.

But you're right that it's a long time and probably a waste of time after all. The demo modes can be good for someone who wants to learn but taking that for 2 years.

You might have no plans at all to do that with real money and all you want is to keep on testing.

[snowpega]

That's actually NOT enough for plebs like us. There was actually a study/research that even if plebs like us "acquired" more knowledge through research, trading courses and through other resources, our probability of actually making a meaningful amount of money consistently would still be the same as if we didn't acquire any knowledge.

   ¯\_(ツ)_/¯

HODL Bitcoin is our only path to success in crypto.

Yes, you are correct about this. We really know how unpredictable and volatile the crypto industry is. And if we talk about this, they are really as bad an example of investment as I have many coins holding in my portfolio that I bought in the bear run in 2023, and you will be surprised that they are all top coins in the altcoin market. So, I rally aviod investing in any altcoin from now on haha. Besides this, mate, I still think knowledge is important if you are planning to hold Bitcoin only.

Because what if one is totally newbie in the crypto space and then he first bought his bitcoin when it was at its new all-time high? Haha, then he will start losing money. I know that this money is recoverable in a long timeframe because one can set its average buying when the market comes down. One also needs to learn the strategies for investing in Bitcoin as a beginner, like DCA.

[Byebyebtc]

you understand first learn than earn most people don't understand but continue losing it's gambling trading is
a skill so first learn and work in demo minimum 2 years than earn it's trading.

That's too long to learn for the demo for 2 years as the minimum of it.

But I respect if that's how long you've learn and that likely assures that you've learn before you get into trading.

Others are thinking they can master it within weeks and a couple of months but it's not that easy.

With that period of how convenient it is for one to learn how to trade, it's best to use real money that they can afford to lose because that pushes them to actually learn how it works.

Frankly, practicing on a demo account for at least 2 year is too long and a waste of time.

You will not learn much from it because it is completely different from real trading. With a demo account, you will not have to face psychological pressure, fear, or greed. This means that when you switch to real trading, you will almost have to relearn everything from scratch.

The demo account should only be used for a short period and only to get familiar with trading execution. This is not the place to learn analysis, risk management or emotional control because it is not real money and everything you experience is simulated. 

I agree with you that a demo account can’t fully prepare you for the emotions of trading with real money. The psychological pressure is completely different. But I don’t think it’s only useful for learning how to place trades.

A demo account is also a great place to learn analysis, test strategies, and build good risk management without risking real money. If you can’t be consistently profitable on a demo, it’s unlikely you’ll do better on a live account. For people who are serious about learning trading and not just gambling, a demo account is one of the best places to build the right habits before moving to a real account. I’m a trader and can attest to the fact that demo helps.

[kawetsriyanto]

Achieving success through trading is not easy or quickly of course, it is very important for a person to have knowledge about trading.

Indeed. Knowledge is a must in trading. Even someone has sufficient knowledge, he may still be difficult to reach the success. I can't imagine that people who have no proper knowledge but they start trading. Of course, they will end up with a failure.

Most people start trading with the hope of making quick money but there are very few people who can trading correctly by using the right knowledge or strategy and survive till the end.

Each person probably has different goal and different perception about trading. I'm sure not all people view trading as a quick way to earn money. Those people who are motivated by the success of big traders, they may assume to earn money quickly in trading. Meanwhile the people who have traded in stock or other markets, they know it isn't easy to earn money in trading crypto.

However, a persons right knowledge strategy and patience can play a big role in achieving success through trading.

People who have knowledge, they surely have a bigger chance to succeed. But it will happen only if they have proper mentality.

It is better for us to leave greed or emotion and start trading with the right knowledge or strategy, as a result of which big losses can be avoided.

Greed and emotion are bad for anything, it isn't only in trading. No doubt, we must have these bad traits.

[DanWalker]

I agree with you that a demo account can’t fully prepare you for the emotions of trading with real money. The psychological pressure is completely different. But I don’t think it’s only useful for learning how to place trades.

A demo account is also a great place to learn analysis, test strategies, and build good risk management without risking real money. If you can’t be consistently profitable on a demo, it’s unlikely you’ll do better on a live account. For people who are serious about learning trading and not just gambling, a demo account is one of the best places to build the right habits before moving to a real account. I’m a trader and can attest to the fact that demo helps.

Dont do that. What I mean is, dont develop any trading habits with a demo account and do not rely on it for too long.
They are two completely different environments. How can you learn risk management in an environment where you know you wont face any real risk? How can you train emotional control when you are hardly under any psychological pressure?

Using a demo account to learn analysis isnt a bad idea. But do not forget that before entering any trade, you always need to combine risk management and emotional control. But you'll never truly possess those skills unless you step into the real market, where your money is actually at risk. Therefore, I also dont recommend using a demo account.

[Wind_FURY]

If you lack the ability to do research and acquire knowledge then there is no need for trading because the risk is huge when the reality hits you, you lose everything you have onces.

Trading are for professionals and those that are very calculative in prediction and in other for you not to be a gambler to trading, then you have to acquire more knowledge in trading than just wanting miracle to happen.

That's actually NOT enough for plebs like us. There was actually a study/research that even if plebs like us "acquired" more knowledge through research, trading courses and through other resources, our probability of actually making a meaningful amount of money consistently would still be the same as if we didn't acquire any knowledge.

   ¯\_(ツ)_/¯

HODL Bitcoin is our only path to success in crypto.

You know the most important thing in the space is to discover where suits them the better than jumping from trading to trades with intentions of making specific amount while trading without knowing that many people could make profits more than those who are trading. Of course, trading is not that easy if I may say but this depends on the market they are solely trading on.

Knowledge is essential in trading but then how do you deploy the right strategy to work perfectly for the trader is what matters most and that's where patient will be truly displayed.

Ser, it's NOT a matter of opinion. It's a FACT. I'm not trying to offend you, but I'm sorry if you can't understand. If it's about the lack of I.Q., I won't say that. You know yourselves.

But having that said, OK you trade your shitcoins, then come back here and tell me you made more money from "trading" than HODLing Bitcoin.

[CryptoBuds]

If you lack the ability to do research and acquire knowledge then there is no need for trading because the risk is huge when the reality hits you, you lose everything you have onces.

Trading are for professionals and those that are very calculative in prediction and in other for you not to be a gambler to trading, then you have to acquire more knowledge in trading than just wanting miracle to happen.

That's actually NOT enough for plebs like us. There was actually a study/research that even if plebs like us "acquired" more knowledge through research, trading courses and through other resources, our probability of actually making a meaningful amount of money consistently would still be the same as if we didn't acquire any knowledge.

   ¯\_(ツ)_/¯

HODL Bitcoin is our only path to success in crypto.

You know the most important thing in the space is to discover where suits them the better than jumping from trading to trades with intentions of making specific amount while trading without knowing that many people could make profits more than those who are trading. Of course, trading is not that easy if I may say but this depends on the market they are solely trading on.

Knowledge is essential in trading but then how do you deploy the right strategy to work perfectly for the trader is what matters most and that's where patient will be truly displayed.

Ser, it's NOT a matter of opinion. It's a FACT. I'm not trying to offend you, but I'm sorry if you can't understand. If it's about the lack of I.Q., I won't say that. You know yourselves.

But having that said, OK you trade your shitcoins, then come back here and tell me you made more money from "trading" than HODLing Bitcoin.

Let us be truly honest with each other. The number of people who actually make a profit from trading is probably no more than the fingers on one hand. But perhaps not many people dare to admit that. Because nobody wants others to know they are a failure, or does not want to believe they are a failure.

It does not matter whether trading is gambling or not, the harsh truth is that most traders and gamblers lose money. No one can make much money from them, let alone get rich.

[shawonngp]

you understand first learn than earn most people don't understand but continue losing it's gambling trading is
a skill so first learn and work in demo minimum 2 years than earn it's trading.

That's too long to learn for the demo for 2 years as the minimum of it.

But I respect if that's how long you've learn and that likely assures that you've learn before you get into trading.

Others are thinking they can master it within weeks and a couple of months but it's not that easy.

With that period of how convenient it is for one to learn how to trade, it's best to use real money that they can afford to lose because that pushes them to actually learn how it works.

There is a big difference between demo trading and trading with real money. When I first practised trading from a demo account, it seemed very easy to me. When I started trading by depositing real money, I found it very difficult. I lost at the beginning. 2 Years of demo trading to learn is really a long time; I don't think it's necessary to practice for that long in a demo account, though it depends on each person's capability. Some can achieve very good trading knowledge in a few weeks. Many people lack knowledge even after trading for several years. So I think that if you can trade with real money, even if it's a small amount, you can gain good skills in a short time.