Anyone out there doing money by trading? How? - page 5.

Lucius

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Quote from: Liquid_Gas on January 04, 2023, 09:25:02 AM

If you truly believe you can make great money, then you will probably WIN. Best wishes to the winners!

What does believing in something have to do with what will happen in real life? Everyone who starts dealing with crypto trading thinks that they can make a lot of money, they don't do it because they are bored in life or have excess money that they want to lose. Those who will eventually say that they have profited are in very small numbers, and their success does not depend only on what they truly believed would succeed, but also because they invested a lot of time, money, and were persistent in what they were doing - with of course a certain talent that is always a part of success.

Quote from: Liquid_Gas on January 04, 2023, 09:25:02 AM

The negativity in this thread is both amazing and somewhat encouraging for the rare people destined to do great at trading.

It is not a negativity but a reality supported by statistics that show how difficult it is to be successful in this type of trading. However, at the end of the day, everyone is free to invest their money however they want, and cryptocurrency trading is just one of the ways to lose money quickly (if you don't know what you're doing).

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Quote from: Liquid_Gas on January 03, 2023, 08:03:52 AM

YES you can make great money trading, you simply need to make better decisions than the people you are competing against. Helpful tip: Think "Buy Low, Sell High" and actually do it, you need to go against the crowd, calm down, save plenty of money for the next trades, and never "come to the conclusion" you will fall short of winning.

The negativity in this thread is both amazing and somewhat encouraging for the rare people destined to do great at trading. For example: "There is no permanent profitable trading..", does anyone see the obvious here? 1) If you manage your money well, and take both long and short-term profits, it is possible to go a very long time with out a serious setback. Every time you close out a winning trade, that new money is instantly available for the next winning trade. 2) When you believe it is difficult and you will probably lose, then you WILL lose. If you truly believe you can make great money, then you will probably WIN. Best wishes to the winners!

irhact

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Quote from: a298b112 on January 02, 2023, 12:52:49 PM

The more I learn I am kind of coming to conclusion that trading in the long run is not profitable. I mean I don't know any single person who is doing decent amount of money for living by trading in crypto. Hence the question: do you know anyone who is successful trading in crypto? or are you doing well by trading crypto?

We many people doing well trading, if trading wasn't profitable you won't see it as one of the ways of making money both in cryptocurrency and financial market in general. One mistake people make before starting to trade is that they didn't equip themselves well with the knowledge needed to become a professional and successful trader.

Anyone who has undergone this education are always recording success so if you have been a trader and recorded some losses that's now discouraging you from continue trading, I'll advise you take some break and go learn how to trade properly then resume later and you'll see the difference.

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Quote from: a298b112 on January 02, 2023, 12:52:49 PM

The more I learn I am kind of coming to conclusion that trading in the long run is not profitable. I mean I don't know any single person who is doing decent amount of money for living by trading in crypto. Hence the question: do you know anyone who is successful trading in crypto? or are you doing well by trading crypto?

How to draw your conclusions too early. Have you done it? or maybe your financial world is not in crypto trading. Don't misunderstand the problem of big profits or not depends on how you start the job and work better. Becoming a crypto seller is not much different from any other seller. It's just a tool, and you can't infer a point or two into one job so conclude that people are going to say you're just bullshit.

rozak

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OP, crypto trading is not easy enough for beginners to do. and if you know people who you say are not making enough profit from trading, I bet they are also still learning in the crypto market.
if for a beginner, I suggest avoiding day trading first. you can try to trade long term, or maybe you can invest long term first.
If you ask those who are successful in trading, I think there are many, but they will not publish themselves.

Lucius

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Quote from: Stalker22 on January 03, 2023, 06:05:54 PM

Did you know that the first recorded Bitcoin trade occurred in 2010, when a programmer named Laszlo Hanyecz offered 10,000 Bitcoins (worth about $40 at the time) to anyone who would order him a pizza?

It may have been the first purchase, but the first trade is still something that we attribute to one of the founders of this forum (Sirius), who sold 5000 BTC at the end of 2009. Also, Martti Malmi sold 10 000 BTC during 2011, and for that amount he bought an apartment near Helsinki - so in addition to the most expensive pizza, we also have probably the most expensive apartment in the world, given that the price of BTC at that time was between $15-$30.

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Quote from: Jody.Drummer on January 04, 2023, 01:55:12 AM

From what you have said, I can see that you are frustrated because you are not getting what you want from trading crypto. In fact, I see the opposite, the long term is a very good thing to do, especially when it comes to bitcoin. I think there are many who suggest prioritizing long-term investments rather than being a short-term trader. You can see there are lots of people out there who have had success with their long-term trading. It may be difficult to find people like that around us, but if we look around the world we will find people who are successful.

Not that I am frustrated. No. I did few trading attempts with the money I can afford to loose. After couple of weeks, at the end the amount is the same, however, I put a lot of effort into it. Now I understand that:

1. I was emotional or probably too much excitement
2. Didn't have any solid strategy. All I was trying to do id buy low and sell high. But then the moment I sold, it went up again. Or vice versa.
3. Didn't know the coin, and its fundamentals. However, I don't know if it is important. Because I saw some traders saying they don't care what they are trading. How is that?
4. Didn't know overall market trends, bearish or bullish.
5. Didn't know the tool available for trading and how to use them. Now I think I need to learn how to use those tools on exchanges.

Somehow these are the lessons learned so far.

yhiaali3

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Yes, there is successful trading, it is relative. There is no permanent profitable trading, but there is profit and loss. The more you learn, the lower your losses.
The market is very volatile so results are not always guaranteed, some people actually make a living from trading but others lose all their money in trading.
You must first acquire good knowledge and learn skills, then you must have good capital to start, and then you study the market well and wait for the appropriate opportunity.

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Quote from: a298b112 on January 02, 2023, 12:52:49 PM

The more I learn I am kind of coming to conclusion that trading in the long run is not profitable. I mean I don't know any single person who is doing decent amount of money for living by trading in crypto. Hence the question: do you know anyone who is successful trading in crypto? or are you doing well by trading crypto?

There are many out there who can make money from trading and also get quite a lot of money from these activities, if no one can make a profit, the crypto market or trading platform will not continue to appear.
I'm not a day trader/sclaping or anything else but rather mid term or long term hold because I feel this way is more relaxing for the mind and there's no need to always pay attention to market movements

a298b112

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Quote from: Inspiron14 on January 04, 2023, 04:10:47 AM

Quote from: Jody.Drummer on January 04, 2023, 01:55:12 AM

From what you have said, I can see that you are frustrated because you are not getting what you want from trading crypto. In fact, I see the opposite, the long term is a very good thing to do, especially when it comes to bitcoin. I think there are many who suggest prioritizing long-term investments rather than being a short-term trader. You can see there are lots of people out there who have had success with their long-term trading. It may be difficult to find people like that around us, but if we look around the world we will find people who are successful.

That's why we need to have patience because talking long term is not an easy thing.
actually it's a long term or short term investment depending on what coins are invested,
in crypto trading we can't always expect it to be profitable in a short time

if you can wait and sell it only when the prices are up then it is not trading, it is more investing.
If I am correct trading has certain short time frames. It could be a day or a few days. But not months and years.

Inspiron14

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Quote from: Jody.Drummer on January 04, 2023, 01:55:12 AM

From what you have said, I can see that you are frustrated because you are not getting what you want from trading crypto. In fact, I see the opposite, the long term is a very good thing to do, especially when it comes to bitcoin. I think there are many who suggest prioritizing long-term investments rather than being a short-term trader. You can see there are lots of people out there who have had success with their long-term trading. It may be difficult to find people like that around us, but if we look around the world we will find people who are successful.

That's why we need to have patience because talking long term is not an easy thing.
actually it's a long term or short term investment depending on what coins are invested,
in crypto trading we can't always expect it to be profitable in a short time

Jody.Drummer

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From what you have said, I can see that you are frustrated because you are not getting what you want from trading crypto. In fact, I see the opposite, the long term is a very good thing to do, especially when it comes to bitcoin. I think there are many who suggest prioritizing long-term investments rather than being a short-term trader. You can see there are lots of people out there who have had success with their long-term trading. It may be difficult to find people like that around us, but if we look around the world we will find people who are successful.

xSkylarx

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Quote from: a298b112 on January 02, 2023, 12:52:49 PM

The more I learn I am kind of coming to conclusion that trading in the long run is not profitable. I mean I don't know any single person who is doing decent amount of money for living by trading in crypto. Hence the question: do you know anyone who is successful trading in crypto? or are you doing well by trading crypto?

Where did you get that conclusion? Since most traders truly believe that it will be profitable in the long run, the beginning is the most difficult because you still have a lot to learn and will make mistakes, but in the long run you will avoid them and develop a strategy that will increase your winning percentage. I'm not sure where you live, or if you simply don't have internet access and can't find any professional traders who are really successful at this. Just looking at their yearly portfolio, you can really say that it is really profitable. I think you just made your first loss, which is why you concluded this, but there are a lot of people who quit their jobs just to focus on trading.

blockman

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Quote from: a298b112 on January 02, 2023, 12:52:49 PM

The more I learn I am kind of coming to conclusion that trading in the long run is not profitable. I mean I don't know any single person who is doing decent amount of money for living by trading in crypto. Hence the question: do you know anyone who is successful trading in crypto? or are you doing well by trading crypto?

I did know a lot of people who became successful in trading crypto. But, here's the catch, they're not just traders but investors as well. They don't hassle themselves in the daily trading of their lives through crypto. They understand how volatile it is and how risky it is.
They're choosing to be passive than to be aggressive and cope with the daily trend of the market. I can say that I'm not that too active anymore in trading but I can say that I'm happy and quite well with my situation as of the moment but not with the market.

Stalker22

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Quote from: a298b112 on January 02, 2023, 12:52:49 PM

The more I learn I am kind of coming to conclusion that trading in the long run is not profitable. I mean I don't know any single person who is doing decent amount of money for living by trading in crypto. Hence the question: do you know anyone who is successful trading in crypto? or are you doing well by trading crypto?

Did you know that the first recorded Bitcoin trade occurred in 2010, when a programmer named Laszlo Hanyecz offered 10,000 Bitcoins (worth about $40 at the time) to anyone who would order him a pizza? Today, those 10,000 Bitcoins would be worth over $160 million! Clearly, there are people out there who have been able to make some serious profits through trading cryptocurrencies. However, in order to effectively buy and sell coins in the market, one must have a deep understanding of the market trends and factors that can affect the price of different cryptocurrencies. Additionally, it is essential to have strong analytical skills and the ability to make informed decisions based on data and evidence.

So, it is important to note that it takes a lot of skill and knowledge to effectively trade in the market. It is not something that can be achieved overnight, but with hard work and dedication it is possible to become proficient at trading.

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Quote from: a298b112 on January 02, 2023, 12:52:49 PM

The more I learn I am kind of coming to conclusion that trading in the long run is not profitable. I mean I don't know any single person who is doing decent amount of money for living by trading in crypto. Hence the question: do you know anyone who is successful trading in crypto? or are you doing well by trading crypto?

If trading wasnt profitable then we wont really be seeing sellers and buyers in the market specially on exchange platforms. Pretty sure that there are people who do make out money out of trading and able to be
profitable but this isnt something that someone could easily attain or achieve since this would really be requiring that extreme skills and knowledge when it comes to buy and selling your coins in the market.
We do have that technical analysis and we do have those fundamentals and other things which are relevant and helpful on your trading journey or career.It is really just normal that lots would be losing their money
if they dont know on what they are doing.This is something that cant really be achieved by someone so easily and on the time that they do make out some engagement then losses then they would be
creating these kind of thoughts that trading doesnt really give out some income or not profitable which is really very wrong.

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Quote from: Hypnosis00 on January 03, 2023, 04:56:24 PM

Quote from: crwth on January 03, 2023, 02:56:21 AM

That's definitely one of the things that you can consider when you are talking about trading and if that's what you have experienced so, why not?

For me, the people who are earning a lot are not so noisy about it and just keep it in a low profile unless it's an enormous amount of win and needs to be televised or something.

Because there is nothing for them to prove in public that they are earning and for their safety from hackers, they keep on silent and continue trading.

And I know that trading is really profitable to others but it is also a disaster to others too. It is certainly hard for beginners to earn a profit which I see OP had complained about his experience from trading. But such a mindset couldn't really stay in trading and no way he could understand the situation for I believe he is not doing well and chasing success but can't accept losses.

There are limited people that can do the trade while making it as a living. At first it was so hard that it took almost all of his funds just to earn a decent profit and finally gained the experience and idea of how to trade with his own strategy for trading. One thing he said to the others was, don't try it because it might not work for you since it took him almost two years to become a good trader.

I can't imagine how much money and energy he needs just to go like full time traders like that but it's amazing although the risk was there you just need to work it out on how to play with those risk and the market.

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Quote from: crwth on January 03, 2023, 02:56:21 AM

That's definitely one of the things that you can consider when you are talking about trading and if that's what you have experienced so, why not?

For me, the people who are earning a lot are not so noisy about it and just keep it in a low profile unless it's an enormous amount of win and needs to be televised or something.

Because there is nothing for them to prove in public that they are earning and for their safety from hackers, they keep on silent and continue trading.

And I know that trading is really profitable to others but it is also a disaster to others too. It is certainly hard for beginners to earn a profit which I see OP had complained about his experience from trading. But such a mindset couldn't really stay in trading and no way he could understand the situation for I believe he is not doing well and chasing success but can't accept losses.

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Quote from: Johnyz on January 03, 2023, 09:48:47 AM

Professional traders know how to diversify their money, they are not doing pure trades most of them play longer and that's why they succeed because they already master their strategy and control their emotion right. I have a friend who are fully dependent to trading, he's still single so he can still afford to take such risk and I think this will also depend on your status in life. Trading in long term is not that profitable because of many reason, investors says trading is not profitable because you are selling good coins early instead of holding it, while trader says its profitable because they are able to meet their goal for the whole month. Profit will always depend on how you see it, so better to know your goal first.

Professional traders do this for a living and have a good amount of capital to wait it out if they ever do something wrong for a short period of time. Look at wall street and you will know what I mean, those people do not end up investing into things for just a day, and if they do daily trades which some of them do, they do not do it based on small mistakes that could become huge and bankrupt them, even the biggest ever 2008 didn't crash them, all of the continue.

So that means the best thing we could ever do would be having a big capital to be a great trader, if that is not available to us then we shouldn't really have hopes about such things at all.

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Quote from: Johnyz on January 03, 2023, 09:48:47 AM

Professional traders know how to diversify their money, they are not doing pure trades most of them play longer and that's why they succeed because they already master their strategy and control their emotion right. I have a friend who are fully dependent to trading, he's still single so he can still afford to take such risk and I think this will also depend on your status in life. Trading in long term is not that profitable because of many reason, investors says trading is not profitable because you are selling good coins early instead of holding it, while trader says its profitable because they are able to meet their goal for the whole month. Profit will always depend on how you see it, so better to know your goal first.

Diversifying can be helpful. It works like a backup in case our trading fails because there are no perfect trades. Pro traders know this already due to the experience they have. Your friend is single. That's great but maybe you can advice him to diversify so that he won't lose that much. It's always better to have more money in hand. He may not be needing it now but he will regret it one day or by the time he already have his own family because he didn't save up and play carefully with his trades.

@OP it's fine if you think that way. Maybe it's time for you to stop trading and find other alternatives which will perfectly fit better for you. Trading isn't just for all.

Topic: Anyone out there doing money by trading? How? - page 5. (Read 1227 times)