Altcoins Talks - Cryptocurrency Forum
Further Discussions => Trading (Not crypto) => Topic started by: Lauris.x on October 23, 2024, 11:16:54 PM
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How did you start trading? Are you profitable? If so, how did you become profitable?
If not, tell us why you believe you are not yet profitable.
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Speaking of being profitable, I guess some people will say that they are profitable if they are able to buy the most expensive cars or buy some nice hux besides a beach. But then. Being profitable isn't actually that way. When you find yourself taking some nice set up in a roll with the risk to reward being moderate, you can consider yourself as being profitable. The truth is that some traders place too much risk in their trades, eventually giving back their profits to me the market. You only risk 20% of your money when trading that's how you become profitable. Avoid over trading and take only high quality setups.
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Speaking of profitability, I have been profitable for my different portfolios, but for stocks, I mostly just held onto a single stock that I believed I would profit from in the long run, and I did, and I also got dividends from it. So, it depends on your approach and whether you want to be proactive. You could still be profitable if you average averaging for a specific stock.
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How did you start trading? Are you profitable? If so, how did you become profitable?
It is always a big question as a new trader how to become profitable as the other traders that you have seen. The profitable traders that you admire have all mastered risk management and always know their risk-to-reward ratio for any trade they want to take. They did not become profitable overnight, and many of them devoted years into learning and acquiring knowledge. As a new trader, give your time and be patient and consistent with the market.
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How did you start trading? Are you profitable? If so, how did you become profitable?
If not, tell us why you believe you are not yet profitable.
Profitability in trading depends on how you see them yourself, what you feel or think is satisfactory enough to call yourself profitable. I might just be getting my daily, weekly or monthly means of sustenance through trading and say I am profitable to my own satisfactory. Another person will want to get the biggest house, drive luxury cars and weak designers before they’ll call themself profitable. Two of the above explanations are saying the same thing, I am profitable as long as I am getting profit from what I am doing. How traders become profitable depends on how they plan their trading and the knowledge earned overtime and sticking to the same strategy over and over again to get to some level of perfection. Everyone has their best possible method to attain that profit goal.
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How did you start trading? Are you profitable? If so, how did you become profitable?
If not, tell us why you believe you are not yet profitable.
When I first came to know about trading, it was from one of my classmates and later I invested in some altcoins according to his words. And that was my complete stupidity, because I made my first investment without any analysis and without knowing anything basic. And as a result, what was supposed to happen happened. I lost my trade. But now the context is a bit different now I have acquired some basic knowledge and along with experience of around 5 years in cryptocurrency space through which I have been able to learn how to make bitcoin investment at least for long-term. And the losses that I have suffered as a result of the mistakes that I have made in the past, I hope to recover plus profit in this bull season. Till now I am at a loss.
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How did you start trading? Are you profitable? If so, how did you become profitable?
If not, tell us why you believe you are not yet profitable.
Starting up on trading doesnt make you that able to get a good grasps into it and it will really be just that normal that there would really be tons loses or errors that you will really be able to
experience on which its normal. Being a noob is something that will really be that a basic stuff because it not something that you could be able to know everything.
You will be experiencing a series or tons of trials and errors before you could be able ot have a good grasps into it.
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If you're consistent and have the confidence in your setup, you'll also need to have good psychology, cause they both go together, psychology if what helps you stick to your trading plan you just need to find what works for you and stick to it there might be few losses but that's where risk management(RM) comes in, no one is perfect, we just need to learn from our mistakes
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How did you start trading? Are you profitable? If so, how did you become profitable?
If not, tell us why you believe you are not yet profitable.
I stopped my trading activities because it feels like I am putting too much effort for merely no returns in long run. Yes I been into trading and did day trading which was fine but the fee eats the profit while we do all the work, analysis and still market never fai to surprise us and being engaged with trading often trigger us to panic sell. But investor seem to be having peaceful life so I decided to go in that way.
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I haven't been able to become fully profitable from trading yet because of lack of skill and i lost a lot of money in the beginning so I am still making up for it with some of the profits. In fact, whether trading is more profitable for you depends on your skill level and risk tolerance. Some traders are able to make significant profits while many others face losses. My trading losses were due to excessive greed, when I see my stock price increasing then I get greedy and wonder how much more it will increase in price. Also, at first I was afraid of losing money so I sold at a loss for fear of losing money. Most people are fooled by false propaganda from various people such as getting rich quick from trading which leads to big losses.
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During trading, sometimes we profit and sometimes we lose and it depends on how accurate we are in predicting market conditions at that time because sometimes whales can play with prices with their community and make small traders suffer losses because they go against the flow, what needs to be considered in trading is how we manage the risk of stoploss, this is very important, it is better to be hit by SL than to lose all our money, so far my trading journey if I calculate it I still get profit even though it is small and always try not to be greedy if I have made enough profit.
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If you're consistent and have the confidence in your setup, you'll also need to have good psychology, cause they both go together, psychology if what helps you stick to your trading plan you just need to find what works for you and stick to it there might be few losses but that's where risk management(RM) comes in, no one is perfect, we just need to learn from our mistakes
Trading is not easy really and the many things that we need to know about trading is that losses are part of the game and we must make sure that we learn from it and better our trading strategies more from it. Sticking to a trading plan that works for one takes a lot of time for it to be achievable. But with consistency, patience and proper risk management applied, one can still get to improve and progress gradually in the trading market. Trading is a continuous learning process, you won’t win all the time even when you’re profitable but make the most out of the time you’ve won more in trading no matter how little they may be.