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Author Topic: When you are becoming successful in trading what will you do first?  (Read 10577 times)

Offline JusticeDeGreat

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Re: When you are becoming successful in trading what will you do first?
« Reply #15 on: December 24, 2024, 10:53:39 AM »
When becoming successful with trading,  the first thing I will do is to do investments that will last in perpetuity. Buy a house or landed property is an investment that appreciate or add value. And it can yield to good results later. So it's important to do investments that one can benefit from.

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Re: When you are becoming successful in trading what will you do first?
« Reply #15 on: December 24, 2024, 10:53:39 AM »

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Re: When you are becoming successful in trading what will you do first?
« Reply #16 on: December 24, 2024, 08:34:31 PM »
Some persons are fully dedicated on learning how to trade crypto currencies and become successful but on the process, they already have some heart desires of what they will do first when they finally because successful in trading. Being successful in trading, I believe that the trader should be making at least x2 - x4 of their normal monthly salary from trading. For example, if you have a job and you are earning $1k every month, to confirm yourself as successful in trading, you should be making x2 or x4 of $1k. What do you guys think? Also when you finally see that you are successful, what will you do first?

Options for my question are:

1: will you quit your job first?
2: will you buy a house first?
3: will you retire your parents first?
4: will you get married first?
Let's discuss.
I will quit my job and then chase the target to double or triple the income from trading. In my opinion a successful trader is the one who can even make profit in bear season because in bull anyone can make profit and making 2x or 4x in 1 month is not possible unless the market is in your favor.

People can only make this profit by shorting and that is very risky and it can eat our profit and capital right away if market does not followed our pattern. If I will become a successful trader I will try to build a business and house for myself and certainly marrying is not a option I can skip  ;)
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Re: When you are becoming successful in trading what will you do first?
« Reply #16 on: December 24, 2024, 08:34:31 PM »

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Re: When you are becoming successful in trading what will you do first?
« Reply #17 on: December 25, 2024, 03:15:16 PM »
For example, if you have a job and you are earning $1k every month, to confirm yourself as successful in trading, you should be making x2 or x4 of $1k. What do you guys think? Also when you finally see that you are successful, what will you do first?

Options for my question are:

1: will you quit your job first?
2: will you buy a house first?
3: will you retire your parents first?
4: will you get married first?
Let's discuss.

I will not confuse my salary with my trading revenue, both are different and if my salary is $1K and I made $100 a month by trading still I consider myself successful because it just gave me $1100 in total.

1. I won't quit job even if I made 4x of my monthly salary.
2. If I made money to buy house with single paycheck, I might.
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Re: When you are becoming successful in trading what will you do first?
« Reply #18 on: December 25, 2024, 03:36:53 PM »
Well, I make sure that all my debts are paid first, especially some of the loans that I have. I also make sure that I have money in the bank for emergency cases. After that, I look forward to buying different assets.

It’s not always just going to be trading for my source of income, but it’s another income from the source that I have, which is my main work.
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Re: When you are becoming successful in trading what will you do first?
« Reply #19 on: December 25, 2024, 06:55:15 PM »
1: will you quit your job first?
2: will you buy a house first?
3: will you retire your parents first?
4: will you get married first?
Let's discuss.
Trading can never be a source of regular income and no matter how rich you are if you don't have a source of regular income you won't survive as a rich person for long.  So I will never quit my job even if I become successful in trading. Because job is a suitable source of my regular income. If I am successful in trading, first I will build a nice house and then I will establish a business that can provide financial support for my whole life.  Because I will never be able to profit from trading all my life.  So first of all I have to build something that will support my further life financially
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Re: When you are becoming successful in trading what will you do first?
« Reply #20 on: December 25, 2024, 07:42:12 PM »
Trading can never be a source of regular income and no matter how rich you are if you don't have a source of regular income you won't survive as a rich person for long.  So I will never quit my job even if I become successful in trading. Because job is a suitable source of my regular income. If I am successful in trading, first I will build a nice house and then I will establish a business that can provide financial support for my whole life.  Because I will never be able to profit from trading all my life.  So first of all I have to build something that will support my further life financially
I am not sure about this because I know many traders who can actually maintain a regular income from trading, enough to meet the needs of life and create huge assets. Meanwhile, many businesses in the traditional market have gone bankrupt during the COVID-19 pandemic even though they were once considered promising and had generated huge profits before.

Seeking a stable passive income source is a common need for investors. ETFs, government bonds, and bank deposits can be feasible and safe options, you can consider them when you have a huge amount of money and need to diversify into many asset classes. Real estate, gold, and stocks are also worth investing in if you can accept higher risks for greater returns.
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Re: When you are becoming successful in trading what will you do first?
« Reply #21 on: December 25, 2024, 08:24:06 PM »

None of those 4 you should do unless you are forced to do it.  Getting married is not easy, it's a lot of responsibility so if you have a girlfriend then just be boyfriens and girlfriends, don't add something more.

But I probably would try buying a house for myself. Having a place of my own and just a man cave to where I can be alone for once in this crowded world. I can sleep around without disturbance.

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Re: When you are becoming successful in trading what will you do first?
« Reply #21 on: December 25, 2024, 08:24:06 PM »


Offline Faisal2202

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Re: When you are becoming successful in trading what will you do first?
« Reply #22 on: December 25, 2024, 08:41:36 PM »
Some persons are fully dedicated on learning how to trade crypto currencies and become successful but on the process, they already have some heart desires of what they will do first when they finally because successful in trading. Being successful in trading, I believe that the trader should be making at least x2 - x4 of their normal monthly salary from trading. For example, if you have a job and you are earning $1k every month, to confirm yourself as successful in trading, you should be making x2 or x4 of $1k. What do you guys think? Also when you finally see that you are successful, what will you do first?

Options for my question are:

1: will you quit your job first?
2: will you buy a house first?
3: will you retire your parents first?
4: will you get married first?
Let's discuss.
I will buy a house and then get married, will retire my parents and then I might find a job instead of quitting one haha. As in jobs, one is good while other is more good but there is always risk of moving from one to another, so when a person will have another source of income, like trading then he can take risk in new jobs and can move to them.

Quitting a job is not a suitable option here because if we will quit our job we will be giving up a stable source of income, and in trading, we definitely need one until we set up a business and make it run without ourselves, like hiring experts to run it and manage things only till then we should do job and trading.
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Offline satpol_PP

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Re: When you are becoming successful in trading what will you do first?
« Reply #23 on: December 25, 2024, 08:44:56 PM »
1: will you quit your job first?
2: will you buy a house first?
3: will you retire your parents first?
4: will you get married first?
Let's discuss.
Trading can never be a source of regular income and no matter how rich you are if you don't have a source of regular income you won't survive as a rich person for long.  So I will never quit my job even if I become successful in trading. Because job is a suitable source of my regular income. If I am successful in trading, first I will build a nice house and then I will establish a business that can provide financial support for my whole life.  Because I will never be able to profit from trading all my life.  So first of all I have to build something that will support my further life financially
Actually, it all depends on the skills and time we have in trading, if we have a lot of time and can focus on trading, we can make trading a source of income, this is what professional traders do.
I have a job in the real world as an employee so I can't trade with focus because of my busy work. that's why I also agree with you that we should have a steady income to meet our needs and not just depend on trading profits.

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Re: When you are becoming successful in trading what will you do first?
« Reply #24 on: January 05, 2025, 01:30:31 AM »
Some persons are fully dedicated on learning how to trade crypto currencies and become successful but on the process, they already have some heart desires of what they will do first when they finally because successful in trading. Being successful in trading, I believe that the trader should be making at least x2 - x4 of their normal monthly salary from trading. For example, if you have a job and you are earning $1k every month, to confirm yourself as successful in trading, you should be making x2 or x4 of $1k. What do you guys think? Also when you finally see that you are successful, what will you do first?

Options for my question are:

1: will you quit your job first?
2: will you buy a house first?
3: will you retire your parents first?
4: will you get married first?
Let's discuss.
the truth in life opinions differs,the options you gave many people will fall in one category while some whomt fall in any,but for me i will still invest the money in other business,marriage is not something we rush into because huge amount of money has come to spend.
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Re: When you are becoming successful in trading what will you do first?
« Reply #25 on: January 05, 2025, 09:09:31 AM »
       -      If God allows me to earn a lot because of cryptocurrency, I will immediately build a business, from real estate, food business and Foundation, Resort and Farm lot. These are the things I would like to have if I really had one.

A simple house and land are enough for me, then my trading here in the crypto space will continue, of course it will not disappear, then I will pass on my knowledge here to my son for his future, he will also benefit from it.

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Re: When you are becoming successful in trading what will you do first?
« Reply #26 on: January 05, 2025, 11:29:34 AM »
       -      If God allows me to earn a lot because of cryptocurrency, I will immediately build a business, from real estate, food business and Foundation, Resort and Farm lot. These are the things I would like to have if I really had one.

The idea of having a farm is appealing. Agriculture has been largely overlooked, despite the fact that it is a highly profitable industry. I would love to own a farm. I saw a friend make a lot of money selling his birds last Christmas. The beauty of it is that there will always be buyers. People must eat and celebrate, and these celebrations entice people to purchase birds, which are even required for household consumption.

Piggery farming is another profitable agricultural sector in my area. The consumption is so high that sometimes you go to where they sell it and they do not have it because the few piggery farmers in my area can not keep up with the number of people who need pork meat because it is so delicious.

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Re: When you are becoming successful in trading what will you do first?
« Reply #27 on: January 05, 2025, 06:00:32 PM »
If a trader can be successful according to his goals, then he will definitely try to make his wishes come true. There are many who have been successful in trading and some who want to be successful. But what someone wants will depend on their profit and amount. Some people make big trades and if they get 10 times or more from their trading, it will be able to change all aspects of their life. But I will say from my personal point of view that if I can achieve something like that, then I will consider it at that time. Because it is unknown when it will happen. For me, if you can earn money by trading, it will be almost difficult to do something that can be obtained by holding.

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Re: When you are becoming successful in trading what will you do first?
« Reply #28 on: January 05, 2025, 07:40:25 PM »
If a trader can be successful according to his goals, then he will definitely try to make his wishes come true. There are many who have been successful in trading and some who want to be successful. But what someone wants will depend on their profit and amount. Some people make big trades and if they get 10 times or more from their trading, it will be able to change all aspects of their life. But I will say from my personal point of view that if I can achieve something like that, then I will consider it at that time. Because it is unknown when it will happen. For me, if you can earn money by trading, it will be almost difficult to do something that can be obtained by holding.
What makes people not to do their wishes is as a result of not getting established through their endeavors otherwise no one will hold back on what they already had in mind, but when they finally becomes a prolific traders you will see them doing according to their wishes and can whatever they want at any given moment or time. But the major thing is to maintain a state that wouldn't affect your decision and actions of doing things that is why we must reason well before taking any bold steps or actions.

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Re: When you are becoming successful in trading what will you do first?
« Reply #29 on: January 10, 2025, 02:26:25 AM »
1: will you quit your job first?
2: will you buy a house first?
3: will you retire your parents first?
4: will you get married first?
Let's discuss.
I will only leave my job if I can consistently earn that profit for more than 1 year and am confident in my ability to earn a steady income in the future...

The first condition that I set as a goal is to buy a house first... having a house is everyone's dream, we need it as a place to go home and as a rest for all family members.... that's the main element that we must force ourselves to have... so that's the first thing I will do...

Then for those who are not married, this could be the second target... but for those who are married of course we can skip this goal....

The third is to quit your job, after knowing our abilities and being sure of our future, then we can quit our job and start focusing on things that provide greater benefits...

And the last is to retire our parents... actually we can still take care of our parents as long as we have more than enough income... therefore, this could be the last option for me.

 

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