When you are becoming successful in trading what will you do first?

[Dr.Bitcoin_Strange]

I also get used to at least preparing for the worst case scenario that I will face. Sometimes we forget that bad things can happen, so we usually ignore them because we don't pay much attention to them.

Even though this is also very important to do. Not hoping for bad things to happen, of course we don't want something like that to happen. But at least we are ready for everything that will happen.

Emergencies are inevitable and it’ll be foolish no to plan for them, things can’t always go as planned and most of the times, unforeseen circumstances may arise and if no it appears that we didn’t prepare or plan for them, then we’ll definitely get caught up in a mess. So preparing for emergencies should be a necessity and a priority, the same way people need food and shelter, that is how they should prioritize having a solid emergency fund in place. It’s not as if we are actually planning for these emergencies but we really don’t need to plan for them before they can occur.

[ajiz138]

I also get used to at least preparing for the worst case scenario that I will face. Sometimes we forget that bad things can happen, so we usually ignore them because we don't pay much attention to them.

Even though this is also very important to do. Not hoping for bad things to happen, of course we don't want something like that to happen. But at least we are ready for everything that will happen.

Emergencies are inevitable and it’ll be foolish no to plan for them, things can’t always go as planned and most of the times, unforeseen circumstances may arise and if no it appears that we didn’t prepare or plan for them, then we’ll definitely get caught up in a mess. So preparing for emergencies should be a necessity and a priority, the same way people need food and shelter, that is how they should prioritize having a solid emergency fund in place. It’s not as if we are actually planning for these emergencies but we really don’t need to plan for them before they can occur.

Well that's the point, we can't do something suddenly, so careful planning is the most ideal to prepare for everything that will happen.
This is something that can actually be minimized, depending on us whether we want to do it or not. Questions that only we can answer ourselves, do not have to be expressed but are enough to be in the mind.

[JISAN]

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?

It has nothing to do with being successful in trading. But of course, if you can make big profits from trading successfully, you should use them again in trading and invest in a hard asset without taking big risk, it can be house, real estate, gold, bank bonds etc. Then you can be very strong in your financial situation because you cannot always profit in trading. Sometimes you will make a lot of profit and suddenly you can make a big loss. So one should not use trading as one's main source of income.  Everyone should have a passive income from which he can meet his regular expenses.

[Dr.Bitcoin_Strange]

It has nothing to do with being successful in trading. But of course, if you can make big profits from trading successfully, you should use them again in trading and invest in a hard asset without taking big risk, it can be house, real estate, gold, bank bonds etc. Then you can be very strong in your financial situation because you cannot always profit in trading. Sometimes you will make a lot of profit and suddenly you can make a big loss. So one should not use trading as one's main source of income.  Everyone should have a passive income from which he can meet his regular expenses.

Well, I do not argue the authenticity of your statement as I also believe that having a passive income is very ideal, even if one has a profitable career in trading, but then again, do you realize that a trader can be so damn good and profitable in their trades to the extent that they can do without a passive income? This is all about experience and strategy, that’s a trader’s greatest tools and the more they’re able to develop these two, the more better they become in trading and the more profit they’re able to make. So there’s a point that a trader can reach, it’ll only be optional for him to do choose whether or not to invest in other things or just concentrate in trading.

[sampoerna]

Well that's the point, we can't do something suddenly, so careful planning is the most ideal to prepare for everything that will happen.
This is something that can actually be minimized, depending on us whether we want to do it or not. Questions that only we can answer ourselves, do not have to be expressed but are enough to be in the mind.

Yes, planning is part of our strategy when trading, and this is one of the important parts because it can have a good or bad impact on the results. Yes, although there are other factors related to how our strategy is during the trading process.

But at least, with a mature plan, it means that our preparation is also good enough, at least we are not blind when starting trading. Whatever it is, everything must have risks, but the risks may not be able to be handled when we start it without a mature plan and preparation from various aspects.

[milewilda]

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.

1. If my trading does require full time then yes, but if its pertaining about swing trades then i wont.
2. Investment and business will be the priority then next will be house,cars,wants.
3. This is something a decision that you cant be able to do but having some recommendations or suggestions isnt bad.
4. Finding the love of your life shouldnt be something that needs up to be rushed, everything does have its time.

Sounds cool and good? This is what everyone wants or really that wished for but of course this isnt something a skill that you can be easily to acquire. Therefore, if you do have this kind of target then work hard your ass on.

[martinex]

If what is planned goes according to plan, the four points will be easily realized one by one, what happens if the moment is not right, the market is not friendly and that makes us wait and even make bad decisions rashly because there is something at stake and our money is decreasing in estimated value. Trading is sometimes fun, sometimes annoying.

[tequilla_sunset]

If what is planned goes according to plan, the four points will be easily realized one by one, what happens if the moment is not right, the market is not friendly and that makes us wait and even make bad decisions rashly because there is something at stake and our money is decreasing in estimated value. Trading is sometimes fun, sometimes annoying.

Trading is also about adaptation, imo.
Nothing wrong when things go in the direction that wasn't expected - there will be good days and there will be bad days, indeed.

[ajiz138]

Well that's the point, we can't do something suddenly, so careful planning is the most ideal to prepare for everything that will happen.
This is something that can actually be minimized, depending on us whether we want to do it or not. Questions that only we can answer ourselves, do not have to be expressed but are enough to be in the mind.

Yes, planning is part of our strategy when trading, and this is one of the important parts because it can have a good or bad impact on the results. Yes, although there are other factors related to how our strategy is during the trading process.

But at least, with a mature plan, it means that our preparation is also good enough, at least we are not blind when starting trading. Whatever it is, everything must have risks, but the risks may not be able to be handled when we start it without a mature plan and preparation from various aspects.

Risk is something that we cannot separate in any case, because everything we do must have a risk that will be in line with the benefits that we can get.

We have talked about this a lot, so we should be familiar with all the risks that exist. I mean make planning as initial capital for us to face a risk that we will face in the future.

[Primo1760]

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.

When I become very successful in trading, I will give my parents a pension to keep them happy and peaceful. I love my parents very much, they raised me with a lot of hardships, now if I can earn income and be successful or can be successful in trading, then of course I will keep my parents happy and peaceful and this is the responsibility and duty of every child. I will not quit my job because along with my job, I will trade and do other things because my job is my main vehicle.

[Dr.Bitcoin_Strange]

When I become very successful in trading, I will give my parents a pension to keep them happy and peaceful. I love my parents very much, they raised me with a lot of hardships, now if I can earn income and be successful or can be successful in trading, then of course I will keep my parents happy and peaceful and this is the responsibility and duty of every child. I will not quit my job because along with my job, I will trade and do other things because my job is my main vehicle.

You’re very correct. It’s indeed your responsibility to take care of your parents while they grow old and toothless, because the more they grow, the more they approach the point that they can’t work or take care of themselves, so ya left for us to take up that responsibility.
And about not quitting your job, do you know that it could get to a point where you’d want to consider your trading as a full time job and career, and if that’s so, you know too well that taking up another job would disrupt that decision as the other job could serve as either a major or slight distraction to you and your trading career. So at this point, would you still consider keeping the job, when you know too well that you could make even more if invest that time in your trading.

[debra]

If what is planned goes according to plan, the four points will be easily realized one by one, what happens if the moment is not right, the market is not friendly and that makes us wait and even make bad decisions rashly because there is something at stake and our money is decreasing in estimated value. Trading is sometimes fun, sometimes annoying.

Yes, because trading is that risky. Trading does not always bring profit, and it will not always be a loss. There will definitely be all the pluses and minuses. It's just that, how much profit or loss will depend on each individual's ability to do the trading. Because by mastering trading skills, you definitely have a way to trade wiser and calmer even when hit by market correction. Because sometimes there are also tactics to optimize profits when market conditions are dropping too.

[rizqillah]

If what is planned goes according to plan, the four points will be easily realized one by one, what happens if the moment is not right, the market is not friendly and that makes us wait and even make bad decisions rashly because there is something at stake and our money is decreasing in estimated value. Trading is sometimes fun, sometimes annoying.

Yes, because trading is that risky. Trading does not always bring profit, and it will not always be a loss. There will definitely be all the pluses and minuses. It's just that, how much profit or loss will depend on each individual's ability to do the trading. Because by mastering trading skills, you definitely have a way to trade wiser and calmer even when hit by market correction. Because sometimes there are also tactics to optimize profits when market conditions are dropping too.

Agreed, in trading we will not always win but sometimes experience losses because the crypto market is volatile and sometimes our strategies and predictions are not right. That's why trading requires skills and experience. We must always learn to be better and always seek experience in order to become a professional trader.

[erus]

~snip~
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.

1. No, I will not quit my real job for crypto, because crypto is unpredictable, the price always changes, there is no certainty of income from crypto every month. It is better for me to continue working and in between my work I am also involved in this crypto business. This is more balanced in my opinion.
2. Of course, I want to buy a house because where I live to build a house is very difficult and requires a lot of money.
3. No, my parents work real jobs and their income is probably greater than my salary from my job.
4. This is a difficult choice, I prefer to hide my identity for marriage matters. I do not want to answer this question. Sorry.

[Bobcrypto]

At first trading is not a certain income which you would determined what you will gain at every month end, weekly and daily. Trading most times involves profits and lose and you can't expect to be aiming at 1k every month or 1k every week because you can't be sure of your outcome precisely.

So, If I were to be the trader what I would do is to have more business created from the profits getting from my work/trading, to also increased my earning at every week/months before however thinks about establishing anyone or even taking additional responsibility to yourself.

Usually as Wo/man who want to go into marriage and taking additional responsibility to themselves you need to know and be sure of your weekly/monthly income, even before retiring your parents.

The rate of profit from trading cryptocurrency depends on the amount of capital inputs. Therefore, it is possible to earn $1k every week, though it requires that a trader must enter a buy position at the right time with at least, $15k as capital.
In addition, trading with large capital, with good knowledge and experiences of the crypto market determined the rate at which a trader earn over times. Generally speaking, poor trading profits/losses outcome attributes to the level of capital used in trading. This is my opinion