Does a trader needs to be a full time trader to be successful? - page 5.

Wexnident

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Quote from: cheezcarls on September 27, 2021, 08:28:13 AM

Not necessarily. It’s gonna be a huge risk if you go full time in crypto trading. Most of us right here are just doing it part-time or occassionaly, depends on what kind of trader we are.

There are occassional or part-time traders who are successful, but not most of the time. It’s because you don’t know when will the cryptocurrency market go up or down in value.

But hey, if you go full time, it just means more time to proper management of your trades and funds. It's a lot better if you're actually fully into the idea of trying to profit more from trades, part-time traders are really just hodlers imo, some of them maybe make plans for pumps and dumps but you'd rarely see anyone doing daily trades among them. It's a matter of preference and situation maybe? Like if you're not particularly doing anything really, adding trading into your daily sessions may be just the thing for you.

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Quote from: cheezcarls on September 27, 2021, 08:28:13 AM

Quote from: Realgogo on September 12, 2021, 02:44:29 PM

As the market is volatile and very technical, does it take full time to become successful in trading? or can some trade part time and still make real profit from the market?

Not necessarily. It’s gonna be a huge risk if you go full time in crypto trading. Most of us right here are just doing it part-time or occassionaly, depends on what kind of trader we are.

There are occassional or part-time traders who are successful, but not most of the time. It’s because you don’t know when will the cryptocurrency market go up or down in value.

Some think about that if they take full time on it they became more knowledgeable and have chances to gain more, but what do they didn't realize is if they can really handle the huge risk for deciding to take full time on it, knowing the market is so unpredictable and even experience traders still lose from unexpected market movement. But although it will give advantage but this in some instance this will not always converted to a sure profit.

So best make it as part time since you can still learn to trade even if you have several hours free time to spend on tradings.

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Quote from: Realgogo on September 12, 2021, 02:44:29 PM

As the market is volatile and very technical, does it take full time to become successful in trading? or can some trade part time and still make real profit from the market?

Not necessarily. It’s gonna be a huge risk if you go full time in crypto trading. Most of us right here are just doing it part-time or occassionaly, depends on what kind of trader we are.

There are occassional or part-time traders who are successful, but not most of the time. It’s because you don’t know when will the cryptocurrency market go up or down in value.

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Quote from: Levero on September 27, 2021, 02:44:03 AM

Although part-time traders have short trading hours, if they can analyze correctly and have a trading strategy, they can also trade successfully and make good profits.

Indeed! even they spend lesser time but if they have the right sets of knowledge, they are very capable of earning decently,

No question about that. What matters the most is how you perform your trade and how you set your plan to take advantages.

Quote from: zanezane on September 27, 2021, 01:56:54 AM

Not necessarily but if you're not a good trader, you're going to need to dedicate a lot of time trading if you want to make some success. If you're lucky and you become good at trading then you might be able to cut short the time you spend in trading since you know the right time to trade.

There's some edge if you stay long and focus yourself with every single information that you can use when dealing with your trade.

Different people have different views but the aimed is the same, they all wanted to earn.

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Quote from: Vaculin on September 17, 2021, 04:53:42 PM

Just like doing two jobs at a time? It won't work always, there is one of them have to let go while keeping the other one. Now, if we consider ourselves to become a full-time trader then we have to focus on it and forgot the other as trading doesn't just work for an hour but hours. if we can spend more in the market, that was more important and this trading actually requires ample time to analyze the market trend so well, or else, we have no reason why we wanted to become a full-time trader.

It is not that full-time traders can make profits. Full-time traders spend a lot of time in trading every day. They are more susceptible to market sentiment and even greedy psychology that leads to trading failure.
Although part-time traders have short trading hours, if they can analyze correctly and have a trading strategy, they can also trade successfully and make good profits.

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Not necessarily but if you're not a good trader, you're going to need to dedicate a lot of time trading if you want to make some success. If you're lucky and you become good at trading then you might be able to cut short the time you spend in trading since you know the right time to trade.

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Quote from: Slow death on September 26, 2021, 07:18:52 PM

Quote from: Realgogo on September 12, 2021, 02:44:29 PM

As the market is volatile and very technical, does it take full time to become successful in trading? or can some trade part time and still make real profit from the market?

did you try to trade in this market? take a test with $50 although it is a very small amount and the profit minus the fees will leave you without any profit you will gain experience and you will know the answer to your question.

for example: let's say you only want a profit of $50 per day, put in $10,000 capital and only need 1 trade per day, you will not need to be trading all day, but in case your capital is too little for the target profit you want will be forced to stay all day.

Specific profit that you do have in mind will really be having corresponding amount of capital and its no use that you would really be making out profits with lesser capital because fees would definitely eat it up.

Being successful doesnt really talk about being full time because if you do just make out some swing trades or simply make buy and sell and turns out to be profitable then that one surely counts.

Whenever what kind of trading you are dealing with as long it do involves buy and sell and make yourself profitable then consider yourself to be one.

Slow death

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Quote from: Realgogo on September 12, 2021, 02:44:29 PM

As the market is volatile and very technical, does it take full time to become successful in trading? or can some trade part time and still make real profit from the market?

did you try to trade in this market? take a test with $50 although it is a very small amount and the profit minus the fees will leave you without any profit you will gain experience and you will know the answer to your question.

for example: let's say you only want a profit of $50 per day, put in $10,000 capital and only need 1 trade per day, you will not need to be trading all day, but in case your capital is too little for the target profit you want will be forced to stay all day.

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Quote from: Aurorra on September 26, 2021, 05:32:53 AM

Trading is not simple, and full-time traders cannot guarantee the success of every transaction. Trading needs to learn a lot of encryption-related knowledge, and also spend a lot of time using various indicators to analyze market conditions and formulate trading strategies based on trading experience. Even amateur traders who have sufficient trading knowledge and experience and control their emotions when trading can be successful in trading.

This is one of the things that is great about this market, other markets close their doors and you cannot even trade during the weekends, the market of cryptocurrencies is open 24/7 all days of the year, which means that if you have a few hours to trade then you can take advantage of them and see if you can obtain profits during that time, this means that you do not need to adjust to the times of the market at all and you can just trade whenever you have some time to do so.

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Quote from: erep on September 26, 2021, 03:26:21 PM

Quote from: rmhuntley on September 26, 2021, 08:38:04 AM

Trade not needed full time to be success or not, just know the good time when entry coin or selling, I think easy with trading just buy potential coin and after success filling use limit sell and choose price depend with how much profit do you want, then sleeping and take traveling maybe next day you can open have your limit order sell success filled or not.

Knowing the right time to enter buy and sell must have an analysis in trading because it is not enough to just buy top coins but must rely on trading analysis skills to achieve targets in the short or long term. Do not rely on luck in trading but analysis determines the accuracy of the actual market movements.

There is nothing special about when to enter and buy and sell because mostly we have all analysis which are helping what to do but still its matter of talk is trading full time or part-time because if you want to live as full time then you need some good things under your belt without them, you have never been successful like you have to manage what is your capital and how you manage things for your own it's not easy but if you start as part-time and after some time when you are able to handle things in better way.

You feel you can earn some good income then you can enter and enjoy because it's very good, and you can do this all freely as much you want.

erep

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Quote from: rmhuntley on September 26, 2021, 08:38:04 AM

Trade not needed full time to be success or not, just know the good time when entry coin or selling, I think easy with trading just buy potential coin and after success filling use limit sell and choose price depend with how much profit do you want, then sleeping and take traveling maybe next day you can open have your limit order sell success filled or not.

Knowing the right time to enter buy and sell must have an analysis in trading because it is not enough to just buy top coins but must rely on trading analysis skills to achieve targets in the short or long term. Do not rely on luck in trading but analysis determines the accuracy of the actual market movements.

mindrust

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Depends on how you define "successful".

To me, a successful trader is the one that doesn't lose money by the end his/her tax year.

Just like how casinos have an house edge, exchanges have a profit margin. It means it is the house that's going to make money no matter which direction the assets go. I'd rather do 2 trades a year and make 5% instead of doing 100 trades and make 10%.

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If you want to succeed in any sector, you must have knowledge about that subject. In order to trade just like that, you need to acquire enough knowledge about trading. Because a full time trader has to consider a lot of things when they are trading in the market, technical and fundamental two analyzes have to be done before opening any trade. As a result, the skill of the trader plays a very important role here.

So it is very risky for newbie to take short term trades, they have to spend enough time in the market to acquire trading skills because we see how easily newbie traders lose their funds in the market only due to lack of proper trading knowledge.

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Quote from: Realgogo on September 12, 2021, 02:44:29 PM

As the market is volatile and very technical, does it take full time to become successful in trading? or can some trade part time and still make real profit from the market?

No, you don't need to be in the market every time to be successful and profitable. But you won't even be needing any other job once you become successful in your trades. Those who trade part time and keep a 8-5 job aren't profitable. Profitable traders don't need such restrictions, except they're into organising seminars and coaching classes or providing signals and managing trading accounts for others. Trading as a career is about the most flexible kind of job anyone can get into once one gets the set skills for it right. From the comfort of one's home, one makes enough cash to put food on the table and beyond that. It's the level of a trader's success and profitability that will determine if the trader wants to go full throttle and take it up as full time job or not.

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Quote from: Realgogo on September 12, 2021, 02:44:29 PM

As the market is volatile and very technical, does it take full time to become successful in trading? or can some trade part time and still make real profit from the market?

You have to focus yourself fully if you want to be successful in any job
as well as in trading, if you want to have good skills then increase your time in trading and analyze the market well

you have to remember that trading is not a gamble so skill, experience, analysis, and patience are important, then becoming a full-time trader is the key to success to be as a professional trader

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I don't know that which type of trader you are , whether you are a day trader and have that much capital to get profit from a day trading and whether you are a long term investor and want to earn a lot by investing for months? So, tell me about this question. And another thing that full time trading is also necessary because now a days it is the worst ever, so be aware of it.

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Quote from: Alisha-k on September 13, 2021, 02:09:55 AM

You don't need to be a full time trader to be successful. But you need to be a consistent trader either as a full-time or part-time trader. Once you are consistent it would help you make corrections on lost trades and how to better time your entries and also avoid some major mistakes you might encounter while trading.

Yes I agreed with you however trading need serious attention and concentration, cryptocurrencies are very volatile in their movement, a trader need to monitor a trade most times the price might not reach the projected Take profit before reversal in such situation a trader who sit and monitor charts may decide to close such a trade with little profits however a trader who trade part time basis might not be on sit when the price reverse to hit stop loss, this is a real situation I had personally experience especially if the trader didn't put a stop loss on a trade.

Luzin

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I do not think so. The benchmark of success that you mean should be explained in detail. If the measure of successful trading is to make big profits, then a full time trader does not guarantee success. It all depends on their ability to trade. Maybe full time traders have more opportunities to relate to the market. But they don't necessarily understand. Because there are many factors that influence trading, such as psychology, emotion, technical and fundamental. People who are all experts, so he doesn't always look at the screen to monitor prices.

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Trade not needed full time to be success or not, just know the good time when entry coin or selling, I think easy with trading just buy potential coin and after success filling use limit sell and choose price depend with how much profit do you want, then sleeping and take traveling maybe next day you can open have your limit order sell success filled or not.

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Trading is not simple, and full-time traders cannot guarantee the success of every transaction. Trading needs to learn a lot of encryption-related knowledge, and also spend a lot of time using various indicators to analyze market conditions and formulate trading strategies based on trading experience. Even amateur traders who have sufficient trading knowledge and experience and control their emotions when trading can be successful in trading.

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