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

[SmartGold01]

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

Even the $15k there are people who would that amount today and still ends up losing them without making profits, even though you said profit are subjected to the amount which we use to start trading is also dependant of the trader. Like I know even if your account is being funded 100k if you not a good trader that amounts would still be sweep off immediately you open trade. So be it small or large the trader also matters a lot.

[Penlex_Writer]

1: will you quit your job first?

I agree with you rushing to quit a job is not the best idea,i will establish more business,i can still be working and also having time to observe my other investment(business).

I will not quit my job immediately Before considering quitting my job, I would like to stabilize my finances and use the profits from trading to invest in other businesses that can generate guaranteed returns. However, if the job provides me with enough time, I will not quit because it is not too time-consuming.

2: will you buy a house first?

I have always admired a luxurious house, so getting it would not be an immediate priority. Like I mentioned before, my first goal will be to increase my sources of income so that I can afford the type of house I want. It will be pointless to buy a house I do not want because I am in a hurry.

3: will you retire your parents first?

My parents will continue to work because if they stop, they will age more quickly. Working allows the entire body to function because jobs can be tasking and fun at the same time and so I would let them to continue interfacing with their work environment while still providing the necessary support. 

4: will you get married first?

Since I already have a family, I would improve their standard of living. This also entails providing them with the necessary funds to establish outlets that can generate funds for them. It is not prudent to have dependants around when they can be empowered to stand on their own.

[Stuart]

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.

It is being said that when you fail to plan, you plan to fail. Letting lose of those important things, yet they sound or look as if they're not important is when there comes circumstances that can be catastrophic at the end of all event. Making plans for things that can possibly happen or setting aside funds for some unforseen circumstances can be an edge to stand back.

It is good that bad things don't happen, but at a point, it is something that becomes bond to happen, so, it is better we just make side plans in case it happens.

[Sim_card]

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

Even the $15k there are people who would that amount today and still ends up losing them without making profits, even though you said profit are subjected to the amount which we use to start trading is also dependant of the trader. Like I know even if your account is being funded 100k if you not a good trader that amounts would still be sweep off immediately you open trade. So be it small or large the trader also matters a lot.

I agree with you, it's not because you have big capital to trade means that profit is guaranteed. It is when you know how to usw your capital in the right direction of the market based on your experience and skill is when you can make profits. Trading is veey risky and no one is above losing which is why you shouldn't trade with more than the amount of money that you can cannot afford to lose.

[MrSpasybo]

It is being said that when you fail to plan, you plan to fail. Letting lose of those important things, yet they sound or look as if they're not important is when there comes circumstances that can be catastrophic at the end of all event. Making plans for things that can possibly happen or setting aside funds for some unforseen circumstances can be an edge to stand back.

It is good that bad things don't happen, but at a point, it is something that becomes bond to happen, so, it is better we just make side plans in case it happens.

Well, we are focusing on future plans after the success of trading, we should not go too far and get lost in the issue of risk management and prevention of bad situations in this market. It is certainly a good topic but should be discussed in another topic.

I think preparing and being ready for success is also an important part of investors psychology. It helps investors maintain their initial goals when they enter the market, and at the same time creates motivation for them to try, be cautious and continuously learn.

[dekafee79]

I agree with you, it's not because you have big capital to trade means that profit is guaranteed. It is when you know how to usw your capital in the right direction of the market based on your experience and skill is when you can make profits. Trading is veey risky and no one is above losing which is why you shouldn't trade with more than the amount of money that you can cannot afford to lose.

I agree with you, having a large capital if you do not have expertise in trading does not guarantee that we will get a large profit, sometimes even lose.
And what you said is right, we should use money that we can afford to lose in trading so we trade without worrying about losing our capital.

[Dr.Bitcoin_Strange]

It is good that bad things don't happen, but at a point, it is something that becomes bond to happen, so, it is better we just make side plans in case it happens.

Sure. No one actually wish or prays for bad things to happen in their lives, but regardless we should never forget that these things are inevitable and can happen at anytime, so it’s better to first of all put certain plans in place to help salvage the situation whenever it decides to come up. This is not only present in investments but also every area and aspect of a person’s life.

[MUGNIA]

If I am successful in trading in crypto, first I will provide security for my parents' old age, then I will invest in crypto and open an offline business to create jobs for people who really need it, so that the profits from my trading can circulate and still be able to produce even if the market is not doing well.

[Gurujebs]

I agree with you, having a large capital if you do not have expertise in trading does not guarantee that we will get a large profit, sometimes even lose.
And what you said is right, we should use money that we can afford to lose in trading so we trade without worrying about losing our capital.

I don't see any reason why would any person engage in trading when they don't have any trading experience because you are just trying to enter a very big problem that you might not have your way out later. Instead of doing that, take small portion of your capital and used that to practice trading or better still learn demo before you try trading.

If you do demo trading and understand trading, then you can start with small capital and make sure that you used atleast a month because your first profit can make it look like you are expert but in the end, you will see that you are not that expert, the duration is very important in trading.

[vegasus]

I don't see any reason why would any person engage in trading when they don't have any trading experience because you are just trying to enter a very big problem that you might not have your way out later. Instead of doing that, take small portion of your capital and used that to practice trading or better still learn demo before you try trading.

If you do demo trading and understand trading, then you can start with small capital and make sure that you used atleast a month because your first profit can make it look like you are expert but in the end, you will see that you are not that expert, the duration is very important in trading.

Usually they are carried away by FOMO about the success of other traders and their success. Sometimes, the view seems very easy, making new people easily interested in following in the footsteps of other traders.

Unfortunately, the thing that is missed is that they follow it without preparing various things. Maybe they don't have experience yet, but they should have had thorough preparation to make their trading start more ready. At least learn first about things related to crypto trading, even to risk management and mental strength too.

But unfortunately, not all newcomers want to bother like this and just want to get instant profits.

[alltalk]

If I am successful in trading in crypto, first I will provide security for my parents' old age, then I will invest in crypto and open an offline business to create jobs for people who really need it, so that the profits from my trading can circulate and still be able to produce even if the market is not doing well.

It is a wise decision to give the priority on the family first. Our parents, wife, and kids should be given enough money. And we must ensure that we have fulfilled all the basic necessities. If everything has been done, we can consider to use the money for another investment. We can spare the money for crypto investment and for physical investment (Gold, lands, etc). If we use the profits in this way, I'm sure we can get higher profits in the future.

[MUGNIA]

If I am successful in trading in crypto, first I will provide security for my parents' old age, then I will invest in crypto and open an offline business to create jobs for people who really need it, so that the profits from my trading can circulate and still be able to produce even if the market is not doing well.

It is a wise decision to give the priority on the family first. Our parents, wife, and kids should be given enough money. And we must ensure that we have fulfilled all the basic necessities. If everything has been done, we can consider to use the money for another investment. We can spare the money for crypto investment and for physical investment (Gold, lands, etc). If we use the profits in this way, I'm sure we can get higher profits in the future.

That's right, and the most important thing is to be grateful for what you have, never be greedy because greed can destroy our lives.

[Bobcrypto]

I don't think being successful in trading implies certain amount each month, in bull run you make plenty profits while in bear market conditions, you might not be making much or at times it may even be a better idea to just take a rest.

A successful trader in my eyes is one who knows how to retain profits, knows when to cut losses and continously makes more from what he has in long term.

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.

Getting married before having your own house is absurd so I would go with having your own house then getting married, on rest two options I got nothing to say.

Yeah, I think that most experienced traders make more profit during the bear market, some of them who trade on future contract can make huge profits by taken short positions at
the appropriate time especially on btc options.
In facts, trading on both bear and bull run has just little differences if you are experienced trader. It is much riskier to trade altcoins during bear run because it very obvious that bitcoin control the market, and a 3% decrease in Bitcoin will amount to 19% decrease in most altcoins and some will even drop to 30%.

[alltalk]

That's right, and the most important thing is to be grateful for what you have, never be greedy because greed can destroy our lives.

Exactly. Be grateful is a must, it is the way to feel satisfied with our efforts. If we are never grateful, it is true that we may be greedy. So, we must understand that we should be grateful with the results of our trading, investment, or any thing else. This is the right way to do because we will be safe in this way.

By the way, what offline business that you want to provide in the future? Are sure that it is enough to have the funds from trading only?

[PX-Z]

By the way, what offline business that you want to provide in the future? Are sure that it is enough to have the funds from trading only?

It matters most depends on the market near you, the competition, the buyers' interest, etc. so it's hard to just tell a business for a perspective that you're not ready for. Unless you made studies already about what good product/service it will be good on your neighborhood, if its online, it also has lots of dependencies knowing you have lots of competition already.