Topic: As a trader never settle for less - page 2. (Read 546 times)

Trading outcome will always be better if you are a good trader as well. But I believe there’s still room for improvement no matter how good you are already. So improve your performance, and develop more of your skills and strategies, that will eventually make you not less but a very good and reputable trader.

Now in terms of trader’s money making, we always trade to maximize our income, but that could also mean losing our funds as well. But if we won’t resort being less of a trader, I believe one will reap what’s best and what he deserves as a trader.

The saying that Never settle for less is common saying used often by people in reference to different situations, to traders and trading, it is a 80% true and an applicable statement. As a trader, you should never settle for a strategy that is less, not earning enough profits from trading with your many effort. It is your responsibility and duty to always try to improve on your strategy as a trader by devoting to learning and interaction with other traders. If you settle for the strategy that earns you less, you are the one limiting yourself from getting more. Do not settle for less, do not settle for the bare minimum.

Well, you don’t want to take the risk with trading if your only goal is to settle for less profits, of course if you have all the potentials to trade and is able to gain maximum profits, then make it happen. But always be ready to lose as well as trading no matter how good or veteran you are, there’s always a time of losing and seeing yourself tired and frustrating. However, make sure that when you trade, your gains and profits will outnumber your losses, otherwise your trading skills aren’t good enough.

You're talking to trader and crypto holders, but I don't understand how your advise could apply to a holder actually. What a holder could do to be better as you say? You don't need skill to hold cryptos, so you can't improve them. If you are trying to suggest they should hold the longer they can, it has nothing to do with skills, or being better. And there is no guarantee for them to get richer by doing that. It's just asking them to be more patient in order to face an higher volatility.

It can be very hard for us to control the kind of results we get in trading. That should not make us to think in a way that would not help us to become a better trader. There are trades that are only interested in making few profits and less the market. This is always better than making huge amount of profits at once and losing it back to the market the next day.
We need to understand what we want and how to get it. There are things that would help us to make consecutive profits from what we do.

the greater your achievement, the greater your desire, I'm not saying that everyone is like this but generally it is like that, I used to think that having a private house was a very special thing for me, but after I had it I wanted to own a car too, man will never be satisfied with whatever their achievements are, I realized that following a lifestyle is not that important, buying luxury goods only makes us much worse, improving life is much more important, I regret why I had to buy a car and not invest it in bitcoin, I just realized now

You wont really be able to reach the pinnacle of success if you wont really be working hard for it on which it would be normal for you to go out with your comfort zone. If you dont like on going out then stay with your comfort zone but dont expect that you would really be able to succeed or progress even more. This is why it would really be just that depending on a certain person whether they would really be going into that path
or would really be that simply loving on taking up some risks or doing something more even if it means that they would really be needing on risking something more. Yes, chances on losing is higher
but we know that you do need to take up risks to earn more.

If you dont have the plans on upgrading yourself then you could just sit down and just continue on what you are doing. You would really be coming into a point in life
that you would really be having those kind of regrets that you havent act or do something while its still early. It would really be just
that depending on a certain individual.

Those who can't settle for anything will end up with nothing in the end. Reaching a compromise is always a better decision imo. You know who didn't settle for less and end up with a bullet in his head? Jessie Livermore, the best trader of all times. He always said more more more and more... till he lost everything he got. From everything to nothing, he decided that he can't live like that and... Had he focused on protecting what he had instead of wanting more, maybe he would have lived a few decades more.

We all should learn to say "enough" because that's the best way to protect ourselves. Untamed greed is our enemy despite what the OP says...

Everyone, not just the rich, wants to earn more money because as you earn more money you become in a position to buy whatever you want as well as having a better standard of living. For this reason, many traders always strive to get more than the amount they earn and this actually causes many people to lose money in the financial markets. Of course, everyone's desire to earn more money isn't only because they want to have a better standard of living but also because they are jealous of other people and emulate them. A person always takes as an example those who are more successful and financially stronger than theirself and strives with great ambition to become richer than these people. For this reason, many traders cannot control their greed especially when trading in financial markets and are ambitious to earn more. This not only causes the person to make more mistakes but also triggers him/her to dislike the earnings he/she has earned due to greed.

For example, if a trader earns money to buy a Citroen, he/she may aim to increase this money and buy a Ferrari depending on his/her greed because there may be someone around him/her who drives a Ferrari and has a better financial situation than him/her. In this case, greed and jealousy come into play in order to have something better with the earnings and this causes the person to make more mistakes.

I mean Elon Musk himself lives in a tiny house, and doesn't really spend his money. Not that he doesn't want more money, but he just wants to point out that he doesn't want money for his own luxury life style or something like that. Don't get me wrong, he still sends his kids to best schools and pays a lot of alimony for his kids and ex wives and all that, but he doesn't live the life he could live, that's the point. He could live on some super mansion that is unheard of, like bigger than some towns, he is capable of affording to get something like that built, and he is capable of doing that in the middle of Los angels as well, he is THAT rich, he doesn't.

This doesn't make him a better human, or a good person, I just wanted to point out, some rich people want to be richer and richer, that is their point, not to be rich so they can spend it.

It's a fact traders would always aim for more profits after increasing their portfolio and asset, for instance a read stories of some forex traders who are funded by Prop firms after some profitable runs they gradually increase their funded account portfolio to aim for a higher profits, personally I started taking their footsteps though I started with a small funded account hopefully buy more higher amount of funded account as I progress in trading journey because my aim and ambition is to become a six figure funded account owner in the nearest future of course more profit for me if I successful achieve that aim of course I won't aim for less.

If you want to be a better trader you need to acquire different knowledge, skills, and strategies with the market, and of course, those you've gained you can use in your journey in trading. As you can see rich people don't settle for less they keep improving their mindset they must be different from others who can't afford anything. The reason why most rich people have a great connection is because you can get a lot from them.
Holding and trading bitcoin is not only the way to earn there's a lot more with the innovation of crypto.

You're correct but sometimes you have to settle for less, not everytime that you open a trade and it'll go as you have planned. If your trade isn't going in the positive direction, you can close you trade and analyze the market again before entering another trade. You don't have to believe that all your trades will go as you expected and this is why we don't always have positive trades as traders. As you're trading you have to be monitoring the market so you don't find yourself in big losses.

If you're holding Bitcoin, you shouldn't settle for less and sell under pressure but you should continue holding and you'll sell in profits but if you're trading and it isn't bitcoin that you're trading, you shouldn't think that you can hold that altcoins and get into profits in the future. Don't marry your bag, don't get emotional attached to your investments. You're a trader only trading to make profits so that should be the goal.

This is usually difficult to do, getting in and out at the right time.
Enter at a fairly low price and exit at a high price, but exit at a high price sometimes cannot be determined because there will be greed that arises and continues to say it is still lacking with the profits that have been obtained, even though the take profit strategy has been determined from the beginning but not followed

Not following completely what others do, but seeing how other people's strategies apply, can also be a good example.
It will be a warning when others make mistakes.

Look, observe and modify, it will be better than just following completely what others are doing.
We must be smarter in managing things so that they provide benefits for ourselves.

Everyone certainly wants the life they live to be better than their previous life and it is impossible if people want their life to be ordinary, of course they will try to be better than before and only people who can do it right can achieve what they do. what they want, because if you just do normal things and don't try as hard as possible, of course the results you will get will be normal, so it's important that in trying we have to do our best to achieve good results too.

The rich can easily multiply the wealth they have and they will trade and invest with the capital they have to increase the wealth they already have, while the poor will find it very difficult to try to invest or trade because of the money they have. they only have enough for the needs they need and if they want to do this of course they have to be able to save first so that what they want can be achieved.

Sucess would really deter on how well you do make out yourself on making those good choices and decisions in life. No one would be able to commit out such condition without doing hard work and perseverance.

When you are really that aiming for success then you should really be that trying out your best on having those positive outcomes and lessening out the risks on dealing with the market.
As a trader then you should really be that versatile and really that wise on making decisions because this is where it would really be that basing up on those outcomes basing up on what you do.
As a trader then it would really be just that right that you would be needing to be adaptive because market condition is really that totally random and
totally unpredictable.

There's no way that we could be able to tell on where prices would be going. If you dont find yourself that comfortable with this volatile and unpredictable market
then this isnt for you.

I always think everyone aims to see more development and progress when it comes to money and finances, most especially for the poor individuals who have not experienced being rich and live comfortably in life. If we see people who are weak and lazy, it’s how they build their mindset and perspective in life. But if you are good and highly motivated, you will always long for what’s best for you and won’t never settle in less.

While trading can be hard at first, but you can always learn from it and benefit from it. And it’s not that you will only learn how to trade and minimize your losses, but on how to maximize gains and make your trading career soaring high.

There is not a single human who don't want to make more money, it is not in the case of poor or wealthy but all classes of people are in mood to have more money because no human is happy with his actual state. Poor will want to occupy the position of wealthy people and wealthy people are in struggle to settle them even more but eventually everything ends whether it's money or power.

Wealthy people can use the power of their money in order to multiply their wealthy whereas poor people will have little amount so they will always be in fear of losing it if they invest it. Investment is not a bad idea and it should be done but people should accept their occupied position as more greed can be bad for them sometimes and after getting huge sum they will miss their old days in which money was less but satisfaction was more.

It's an unfair comparison and that shows why you need experience to understand this better.

As a trader you need to know what you want, the goal can be bigger or smaller but you need to know what you want to achieve when you are starting, just aiming to be successful is wild shot and expect it to be a bull's eye.

Rich traders make money in other ways too because they know trading is highly risky and the profits are uncertain so having trading as your job can put you under tremendous pressure and there is high chance that you can fail.

Never settle for less but only if you know there are no risks involved with what you are doing. When you have investments in Bitcoin or cryptocurrencies in general, you should know when is the best time for you to take profit and exit the market and wait for the next opportunity because sometimes, not settling for less in the cryptocurrency market can cost you the profit that you can earn at that exact moment.

Remember one thing, your destiny and luck aren't matched with someone else's, so you shouldn't follow what others are doing and expect the same to happen with you, always do what you think is right based on your knowledge and understanding instead of walking on the footsteps of others.