Trading is like more like gambling if...

[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. 

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.

Besides, to be honest, I do not believe anyone can stay patient trading with a demo account for such a long time.

The only goal for most of us is profit. I do not think anyone can keep doing that without getting bored or losing patience after a while. In fact, many people will be eager to enter the real market as soon as they make a few profitable demo trades. Maintaining trading on a demo account for 2 year is not really realistic.

[Awaklara]

Besides, to be honest, I do not believe anyone can stay patient trading with a demo account for such a long time.

The only goal for most of us is profit. I do not think anyone can keep doing that without getting bored or losing patience after a while. In fact, many people will be eager to enter the real market as soon as they make a few profitable demo trades. Maintaining trading on a demo account for 2 year is not really realistic.

That's clearly not a realistic option for someone learning to trade. Even those who are self-taught might not stick with it for long. 
Enter the market with your own money, learn, and manage your experience well. What we get from real trading is definitely different from demo accounts. 
Gamblers also wouldn't play demo games unless they had no money.

[Mame89]

Besides, to be honest, I do not believe anyone can stay patient trading with a demo account for such a long time.

The only goal for most of us is profit. I do not think anyone can keep doing that without getting bored or losing patience after a while. In fact, many people will be eager to enter the real market as soon as they make a few profitable demo trades. Maintaining trading on a demo account for 2 year is not really realistic.

That's clearly not a realistic option for someone learning to trade. Even those who are self-taught might not stick with it for long. 
Enter the market with your own money, learn, and manage your experience well. What we get from real trading is definitely different from demo accounts. 
Gamblers also wouldn't play demo games unless they had no money.

It's unrealistic to stick with demo trading especially for a long time. Most people will eventually get bored. It's more sensible to learn with demo trading for at least one month to learn and master strategy, psychology and risk management. After that enter the real market with a small amount of capital you can afford to lose, as demo trading is very different from real trading especially in terms of emotions and pressure.

The point of demo trading is to learn. Once you understand the rules, practice immediately with a small amount of money you can afford to lose. Trading without knowledge, especially going all-in, is the same as gambling. Become a good trader by learning first then taking calculated risks to achieve balance. In trading practice and action are the keys to success.

[Rubuchi]

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.

I feel like trading itself have been becoming more difficult every now and then and many traders do not have big wins like they usually do in the past making trading less luckrative. That's first. Second, many people prefer to make quick money and it is with such intentions they approach trading from the start making it more difficult for them to take their time and learn the core aspect of trading which could be painstaking but highly beneficial in the long term. Lastly, most those people who are finding trading to be highly demanding ends up becoming content creators and making money through selling of signals and other trends. This is because they have acquired the knowledge and some have the experience but are not disciplined and consistent enough to keep up with its demands.

[WilliamCarter]

fair point. diving in without doing the homework is basically just lighting your cash on fire. but here's the kicker—u can study all the fa/ta u want, but fear and greed r useless in a demo account cuz u never feel the sting of actual loss. after grinding in this game for years, i realized that wasting 2 years on a demo is just cope. u're way better off putting a small amount of real capital on the line to actually feel the market move—that's the only real education. knowledge is cool, but risk management and killing off your emotions are what stop u from becoming exit liquidity for the big boys. at the end of the day, trading's just a mental war against yourself. if u're still letting your gut run the show, no amount of theory's gonna save u from being a gambler.

[Iranus]

I feel like trading itself have been becoming more difficult every now and then and many traders do not have big wins like they usually do in the past making trading less luckrative. That's first. Second, many people prefer to make quick money and it is with such intentions they approach trading from the start making it more difficult for them to take their time and learn the core aspect of trading which could be painstaking but highly beneficial in the long term. Lastly, most those people who are finding trading to be highly demanding ends up becoming content creators and making money through selling of signals and other trends. This is because they have acquired the knowledge and some have the experience but are not disciplined and consistent enough to keep up with its demands.

Trading is inherently difficult and is considered one of the most stressful way to make money in the financial market. Before the advent of crypto, not many traders were able to make money from the forex and stock markets.

The desire to make quick profit is one of the main reasons why many people end up losing money. But trust me, even if you take trading seriously, spend more time learning, gain experience and develop your skill, there is still no guarantee that you will succeed. Because, as I mentioned in the first point, trading is inherently difficult.

[Wind_FURY]

There's merely 10% of traders that actually make enough of money THAT WILL MATTER. The rest of them are where the top 10% of traders take their money from.

 

DON'T be a part of "the rest of them". Buy the Bitcoin DIP, and HODL. They'll never take anything from you.

Yes, that's very true, 10% or less than that are the traders/investors who make good enough money from the crypto market while the rest of the traders/investors are those who'll lose money in this market. The ones who buy at the right time and hold their investment for sometime are the ones who actually make something from this market, those who buy when the market is at its peak and sell when market dumps badly are the ones who keep losing money again and again in the market.

Tell our fellow PLEBS, and spread the message that because we're mere PLEBS, we should merely Buy the DIP, and HODL, and the current phase of the Bear Cycle is another Golden Opportunity for us.

I'll never stop spreading this message until everyone of US PLEBS in BitcoinTalk are HODLing only Bitcoin, and ignoring ALL shitcoins.

[CryptoBuds]

How do you know it? I know there is small number of traders who are really success in trading, but I have no idea about how percentage they are. They can be 5%, 10%, or more.

We do not have concrete evidence to prove that. However, many surveys conducted over the years have consistently shown that the majority of trader lose money. Most surveys show that 90%-97% of traders experience losses.

Yep, we shouldn't be a part of failed traders. However, there is no problem to try trading if we really assume we have proper ability or skills.
If we have no proper skills in trading, I agree that we should focus on investing in Bitcoin. We just need to buy during the bearish season, then we sell the Bitcoin when the bullish season comes. But this also still requires the analysis skills, at least we understand how to determine the right entry and exit..

With less than 10% of traders making a profit in the market, is trying to become a trader really a wise decision? Anyone can give it a try, but I do not think you should invest too much time, money, or expectation into it.

[cxtreenal]

I feel like trading itself have been becoming more difficult every now and then and many traders do not have big wins like they usually do in the past making trading less luckrative. That's first. Second, many people prefer to make quick money and it is with such intentions they approach trading from the start making it more difficult for them to take their time and learn the core aspect of trading which could be painstaking but highly beneficial in the long term. Lastly, most those people who are finding trading to be highly demanding ends up becoming content creators and making money through selling of signals and other trends. This is because they have acquired the knowledge and some have the experience but are not disciplined and consistent enough to keep up with its demands.

Trading is inherently difficult and is considered one of the most stressful way to make money in the financial market. Before the advent of crypto, not many traders were able to make money from the forex and stock markets.

The desire to make quick profit is one of the main reasons why many people end up losing money. But trust me, even if you take trading seriously, spend more time learning, gain experience and develop your skill, there is still no guarantee that you will succeed. Because, as I mentioned in the first point, trading is inherently difficult.

I completely agree with you. However, some people tend to trade for short-term and high profits. Most of the time, the various strategies they take are not fruitful because in terms of risk, trading is not much different from gambling. The more you analysis the market, the market moves at its own pace and in cycles. Even if you are an experienced trader, you will not be able to predict the future price perfectly.

As you mentioned, among the reasons for the losses of gamblers is the attempt to make quick profits. There are many other reasons such as not being patient or panicking when the price drops. Trading should not be just a short term plan. You may sometimes need to take a long-term strategy in accordance with the market situation because the market may go through a long-term correction period and at that time you need to be patient and continue to buy.

[Wind_FURY]

I feel like trading itself have been becoming more difficult every now and then and many traders do not have big wins like they usually do in the past making trading less luckrative. That's first. Second, many people prefer to make quick money and it is with such intentions they approach trading from the start making it more difficult for them to take their time and learn the core aspect of trading which could be painstaking but highly beneficial in the long term. Lastly, most those people who are finding trading to be highly demanding ends up becoming content creators and making money through selling of signals and other trends. This is because they have acquired the knowledge and some have the experience but are not disciplined and consistent enough to keep up with its demands.

Trading is inherently difficult and is considered one of the most stressful way to make money in the financial market. Before the advent of crypto, not many traders were able to make money from the forex and stock markets.

The desire to make quick profit is one of the main reasons why many people end up losing money. But trust me, even if you take trading seriously, spend more time learning, gain experience and develop your skill, there is still no guarantee that you will succeed. Because, as I mentioned in the first point, trading is inherently difficult.

I completely agree with you. However, some people tend to trade for short-term and high profits. Most of the time, the various strategies they take are not fruitful because in terms of risk, trading is not much different from gambling. The more you analysis the market, the market moves at its own pace and in cycles. Even if you are an experienced trader, you will not be able to predict the future price perfectly.

"Most of the time"? Give it enough time and our fellow PLEBS losses will be ALL OF THE TIME. I'm sorry if this offends many people, but I'll never stop posting about it. What we PLEBS should CURRENTLY be doing is Buy the Bitcoin DIP, and HODL.

As you mentioned, among the reasons for the losses of gamblers is the attempt to make quick profits. There are many other reasons such as not being patient or panicking when the price drops. Trading should not be just a short term plan. You may sometimes need to take a long-term strategy in accordance with the market situation because the market may go through a long-term correction period and at that time you need to be patient and continue to buy.

None of that will help PLEBS like us out-trade a well-capitalized professional trader, and his/her army of trading bots.

[Peanutswar]

Besides, to be honest, I do not believe anyone can stay patient trading with a demo account for such a long time.

The only goal for most of us is profit. I do not think anyone can keep doing that without getting bored or losing patience after a while. In fact, many people will be eager to enter the real market as soon as they make a few profitable demo trades. Maintaining trading on a demo account for 2 year is not really realistic.

That's clearly not a realistic option for someone learning to trade. Even those who are self-taught might not stick with it for long. 
Enter the market with your own money, learn, and manage your experience well. What we get from real trading is definitely different from demo accounts. 
Gamblers also wouldn't play demo games unless they had no money.

For those who focus on immediately earning money they are the ones who want to skip having an analysis with the demo trading, its just a testing grounds for confirmation of new strategy and set up in the market you dont need to use demo trading with that takes 2 years its kinda long for having a testing and to learn, I guess months is enough. We are just using demo trading to find a suitable set up to our trades now once you are satisfied wit the strategy you have build its good enough to make it applied in real life trading or the actual you are now using real money and take the risk of your trades. 

[ChocolateBitcoinK]

Anyone who is trading blindly, trading in randomness, is more likely not trading but gambling. And if you are actually a real trader, why would you rely to other people the success of your own trade by following their own trading signals? That would only make your trade prone to failure and losses, because you are not trading to succeed, but you are trading like you are relying on luck and relying to other people's success, that's what gambling is.

But if you are trading with your own knowledge, skills and enhanced strategy, and with your own market chart and price data analysis, I think you will not fail from trading because you are trading the way how successful traders are exactly doing.

Those who have no knowledge, concept and analytical ability about trading blindly rely on the decisions of others or make random decisions and rely entirely on luck. And making decisions based on such luck is like gambling. Although trading is not gambling. The main challenge here is to change your decision with the market changes and make a profit. In the case of volatile assets like Bitcoin, it is very difficult to predict something correctly in advance. Although people with many years of experience and knowledge are able to predict, ordinary investors most of the time fail to make the right guess and make decisions at the right time. And many sell at a loss due to panic. Therefore, if someone is not capable of making decisions on their own, then trading should not be done blindly.

[Floczy]

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.

Besides, to be honest, I do not believe anyone can stay patient trading with a demo account for such a long time.

The only goal for most of us is profit. I do not think anyone can keep doing that without getting bored or losing patience after a while. In fact, many people will be eager to enter the real market as soon as they make a few profitable demo trades. Maintaining trading on a demo account for 2 year is not really realistic.

Yeah you are right, Staying on a demo account for too long isn’t realistic for most people because you eventually need to experience the emotions that come with risking real money. I think once you’ve been consistently profitable on a demo for a few months or your win rate is at least 50% over 30 or 50 trades and you’re following your rules without breaking them, it’s a good time to move to a small live account.

Trading a live account is important because that’s where you learn to control fear, greed, and pressure. The key is to start small, not rush in with a big account. That way you keep improving while keeping your risk low.

[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. 

Thank you I’ve been waiting for someone to say something about this, Spending two years on a demo account is probably too long because at some point you need to experience real trading. A live account teaches you things a demo never can, like dealing with fear, greed, pressure, and sticking to your plan when real money is on the line. But I also think you shouldn’t rush into it. Before trading live, you should already have a working strategy, good risk management, and the discipline to follow your rules. Once you have those, starting with a small live account is the best way to build the emotional control and mindset that every successful trader needs.

[free-bit.co.in]

Thank you I’ve been waiting for someone to say something about this, Spending two years on a demo account is probably too long because at some point you need to experience real trading. A live account teaches you things a demo never can, like dealing with fear, greed, pressure, and sticking to your plan when real money is on the line. But I also think you shouldn’t rush into it. Before trading live, you should already have a working strategy, good risk management, and the discipline to follow your rules. Once you have those, starting with a small live account is the best way to build the emotional control and mindset that every successful trader needs.

Let us put aside whatever a demo account might teach us. Just the idea of spending years trading an account that generates zero profit is already unrealistic. Ultimately, most of us get into trading because we want to make money quickly. Very few people are serious and patient enough to pursue a process that yields no financial benefit for two straight years.

I do not believe anyone could do this. Because if we hold Bitcoin for two year and if market conditions are favorable, we would at least have a good chance of making a decent profit.
Why spend 2 year learning skills that do not even guarantee meaningful profits in the future?

[kawetsriyanto]

I'll never stop spreading this message until everyone of US PLEBS in BitcoinTalk are HODLing only Bitcoin, and ignoring ALL shitcoins.

I support your effort to make people be aware about the big risks on shitcoins. Sure, we need to avoid all shitcoins and prefer to stay with Bitcoin and trusted altcoins.

We do not have concrete evidence to prove that. However, many surveys conducted over the years have consistently shown that the majority of trader lose money. Most surveys show that 90%-97% of traders experience losses.

Yep, I agree that there must be bigger number of traders who get losses. Those survey can be true, it is above 90%. But it seems no exact percentage. Also, I think the number of successful traders can improve if most people have been aware about the proper way in trading. So, the percentage can change at any time in the future.

With less than 10% of traders making a profit in the market, is trying to become a trader really a wise decision? Anyone can give it a try, but I do not think you should invest too much time, money, or expectation into it.

Well, it depends on the ability of someone. If he assumes he has enough ability to be a good trader, there is no problem to expect for gaining profits in crypto market. But if someone has no proper ability and he even has no strong intention to learn it, it is better to stay away from trading. Focusing on Bitcoin investment looks better than forcing to trade in crypto coins with lack of ability.

[Wind_FURY]

I'll never stop spreading this message until everyone of US PLEBS in BitcoinTalk are HODLing only Bitcoin, and ignoring ALL shitcoins.

I support your effort to make people be aware about the big risks on shitcoins. Sure, we need to avoid all shitcoins and prefer to stay with Bitcoin

PLEBS like YOU should also help our fellow PLEBS in BitcoinTalk. You should also make it an effort to convince them to Buy and HODL Bitcoin. It's not merely an "investment". It's also a sort of bank savings account that you could bring in your pocket, or if you memorized your Seed Phrase - It's a bank savings account that you could bring ANYWHERE.

 and trusted altcoins.

 

[CryptoBuds]

We do not have concrete evidence to prove that. However, many surveys conducted over the years have consistently shown that the majority of trader lose money. Most surveys show that 90%-97% of traders experience losses.

Yep, I agree that there must be bigger number of traders who get losses. Those survey can be true, it is above 90%. But it seems no exact percentage. Also, I think the number of successful traders can improve if most people have been aware about the proper way in trading. So, the percentage can change at any time in the future.

I am not as optimistic as you because trading has existed for decades. It is not a new field. Forex and stock trading existed long before cryptocurrencies emerged. But surveys continue to show the same result: the majority of traders lose money.

I do not think cryptocurrency trader will become any smarter or better, especially when so many people enter the market with a get rich quick mindset.

[Silikiem]

There's merely 10% of traders that actually make enough of money THAT WILL MATTER. The rest of them are where the top 10% of traders take their money from.

 

DON'T be a part of "the rest of them". Buy the Bitcoin DIP, and HODL. They'll never take anything from you.

Yes, that's very true, 10% or less than that are the traders/investors who make good enough money from the crypto market while the rest of the traders/investors are those who'll lose money in this market. The ones who buy at the right time and hold their investment for sometime are the ones who actually make something from this market, those who buy when the market is at its peak and sell when market dumps badly are the ones who keep losing money again and again in the market.

Tell our fellow PLEBS, and spread the message that because we're mere PLEBS, we should merely Buy the DIP, and HODL, and the current phase of the Bear Cycle is another Golden Opportunity for us.

I'll never stop spreading this message until everyone of US PLEBS in BitcoinTalk are HODLing only Bitcoin, and ignoring ALL shitcoins.

For sure, the dips is a good buying opportunity as everyone will be happy to get to buy bitcoin in a much reduced price. But then, since bitcoin is very volatile should plebs wait until this dip occurs before they can get to buy bitcoin. If they chose to wait they may end up not buying bitcoin because the dip may or may not happen and even if there’s a price drop I’m pretty sure that there are still plebs who will be targeting a certain dip price which they may end up not getting it because of the volatility of bitcoin, so I think to save themselves of all these uncertainties it will be wise for plebs not to focus their attention majorly on the buy the dip strategy but rather they can deploy the DCA method which will help them buy some bitcoins at any market price and even if the price dips or not, they still have bitcoin to hold and they still Stand a more higher chances of buying bitcoin at the dip than those who literally sit and wait for the dip before buying.

[Wind_FURY]

There's merely 10% of traders that actually make enough of money THAT WILL MATTER. The rest of them are where the top 10% of traders take their money from.

 

DON'T be a part of "the rest of them". Buy the Bitcoin DIP, and HODL. They'll never take anything from you.

Yes, that's very true, 10% or less than that are the traders/investors who make good enough money from the crypto market while the rest of the traders/investors are those who'll lose money in this market. The ones who buy at the right time and hold their investment for sometime are the ones who actually make something from this market, those who buy when the market is at its peak and sell when market dumps badly are the ones who keep losing money again and again in the market.

Tell our fellow PLEBS, and spread the message that because we're mere PLEBS, we should merely Buy the DIP, and HODL, and the current phase of the Bear Cycle is another Golden Opportunity for us.

I'll never stop spreading this message until everyone of US PLEBS in BitcoinTalk are HODLing only Bitcoin, and ignoring ALL shitcoins.

For sure, the dips is a good buying opportunity as everyone will be happy to get to buy bitcoin in a much reduced price. But then, since bitcoin is very volatile should plebs wait until this dip occurs before they can get to buy bitcoin. If they chose to wait they may end up not buying bitcoin because the dip may or may not happen and even if there’s a price drop I’m pretty sure that there are still plebs who will be targeting a certain dip price which they may end up not getting it because of the volatility of bitcoin, so I think to save themselves of all these uncertainties it will be wise for plebs not to focus their attention majorly on the buy the dip strategy but rather they can deploy the DCA method which will help them buy some bitcoins at any market price and even if the price dips or not, they still have bitcoin to hold and they still Stand a more higher chances of buying bitcoin at the dip than those who literally sit and wait for the dip before buying.

If you recommend DCA, then you do you because it truly depends on each individual's preference and situation. But in my personal experience and in my personal situation, buying the DIPs during bear markets when Bitcoin is trading near or below the 200-Weekly SMA line has been very good for my Bitcoin Portfolio.

I had some savings, I'm single, and I have no responsibilities which makes it the best accumulation strategy for me. It could be for you, especially TODAY that Bitcoin is trading near/below its 200-Weekly SMA line.