Does a trader needs to be a full time trader to be successful? - page 9.

lienfaye

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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?

Well you dont need to become a full time trader to be called successful. A trader that has more wins than losses and able to take advantage the market (regardless if we are in bullish or bearish) is an example of a successful trader because you are aware of what should be done.

On the other side, having lots of time to spend as a trader is an edge but it doesnt mean you cant succeed if you're doing it as a part timer, because it depends on your knowledge and strategy.

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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?

I don't think that when you trade full time seeing the market price at any time can spoil your plans to take profits if you can't control your emotions well.
I myself trade do not have much time. if you want to trade daily you only need to set a profit target without having to see the market all day long it will make time wasted.

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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?

To be successful in trading means your strategy works, so even if you are a part time or full time trader, so far as you have a working strategy, you are a successful trader.

In terms of profit, since that's the context i think you mean, full time trader spends more time monitoring the market, that means they will be able to spot opportunities better and take better advantage of them before the part time trader may even see it. So full time traders with successful strategies get more profit from trading IMO.

crwth

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This would entirely depend on how available you are, and you would consider someone as "successful." Because there are different things that you could consider someone as successful, still, in terms of trading, I think, for my definition, it's staying as long as you can in the market without getting liquidated totally.

Anyway, if you were to think about it, you can automate your trading. This way, you can focus on the priorities in life while the software, Gunbot trades for you. I have a buyer who had good profits and did almost nothing but set up and monitor it through Telegram.

That's one way you can approach it.

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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?

Full time what I understand is not how long you spend in trading, but rather make trading as the main activity that is carried out regularly and also the main income.
Becoming a successful trader is not based on full time or part time but about strategies you use and don't forget to always improve the trading skills.

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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?

Being a full time trader in this market gives you a better chance at being better than someone who is just a part time trader. Why it seems like full-time traders are more successful than part-time traders is because, they get a lot of chance to do research on trading, and since it is their daily work they focus more on it and learn technical analysis and fundamental analysis to better their skills.

A part time trader who has another work doing might not get such chance to be focusing on their trading or learning new things that has to do with trading, so they will be lacking those skills. but it is not easy for everyone to be a full time trader, if you can't do it then focus on being a part time trader. you can still be successful even as a part time trader if you are hard working.

Sasdy

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Definitely for this you need to have certain skills and have a fairly good knowledge base, and only in this way you can try to work.

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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 really, because you do not have to become a full-time trader to succeed in making money. But to go that way, you need to have more skills than other people so you can analyze without too long to find the right coin target to buy and sell. Becoming a full-time trader will need a big effort and of course, you need time to have a high-skills in trading.

The important to trading is that you must have skills that can help you in analysis matter and that is not easy to have those skills without learning so many lessons.

Maus0728

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No.

It actually depends on your lifestyle and your daily living. You can't trade full time if have your dayjob or any other freelancing works which is not something you can remove especially if your job put some food on your table. Your only choice is to adjust based on what time you are comfortable with. You can either be a scalper or a position trader.

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

or can some trade part time and still make real profit from the market?

Yep. You'll just need to spend your time charting religiously. Moreover, I hope this resources helps you a lot in your journey.

[1] https://github.com/SpiralDevelopment/Awesome-Crypto-Trading

Alisha-k

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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.

Celinena

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This is not the case. Most people trade while doing their own work, but due to their lack of experience, many newbies will lose money or even return to zero. This is very cruel. I think encrypted currencies only need to be held. , You can make a profit by buying (I just refer to Bitcoin).

A full-time trader is best to learn systematically.

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Full-time trading just gives you more instances of avoiding sudden dumps and possibly profiting more on dumps and pumps. There's not much difference really imo, traders could put up a stop loss to prevent excessive losses after all, but knowing when the market moves do give traders an edge towards profiting over shorts. In the end, it depends on the market, like a person who trades for 4 hrs and a person who trades for 8 hrs, if the market change coincides where they're both online, both of them would and could pretty much take advantage of the change.

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Unfortunately since crypto trades all day, you should trade it full time, or even sometimes 12-16 hours a day because you never know when the market might move. When the market moves... you need to be on alert.

If you do it part time you will miss a lot of trades. You will end up trading out of boredom and lose money. You can always use limit orders however you will end up with a lot of bad trades that way because you have no idea if the support or resistance area actually holds. Usually support will completely break thru and you will end up getting a limit fill and later on your stop will hit. If you are trading live you can watch and see if support holds if it holds you can enter then, instead of just guessing.

So trading full time is preferred if you want to make some actual money.

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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?

Define successful?

If you are talking about profits, even professional ones are losing today. A successful trader for me is those who are now able to play with the market at any given situation or trend making their losses minimal.

Does it take full-time to become a better trader? Not necessary but giving more precious time learning trades will make you more experienced. If you have time and really serious to learn, then spend more time.

Boov

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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?

This is a good options for us to be into full time, and if you're not having job on current season maybe doing so can be beneficial to us. Part time will also generate good profit but not as successful as full time did.
Anyways, that depends with the trader on how he handle things like that; most importantly emotions will be controlled all the time to avoid huge loss.

CaVO32

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Quote from: Oceat on September 12, 2021, 05:43:33 PM

No not really, since if you look at the chart you would have noticed on how the market actually move or changes especially the price fluctuation. But the most important part is when you have more win in trading means more profit than what you lost. Being a full time trader is exhausting IMO because you are basically watching the market to move constantly that might stress you out more.

You should try scalping since being a full time trader doesn't mean you will become a successful trader. Try any different approach that would eventually going to benefit you the most.

You are right, being a full time trader will not give you an assurance that you will be successful in this venture. Also, being full time will exhaust your energy, and you may end up giving up this activity early. Why not try part time for the time being and just trade coins that you are very well familiar of? Because if you want to trade several coins but you have no idea on some of them, the profit you will get in some coins will just be lost in those coins you are not very well acquainted of.

Oceat

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No not really, since if you look at the chart you would have noticed on how the market actually move or changes especially the price fluctuation. But the most important part is when you have more win in trading means more profit than what you lost. Being a full time trader is exhausting IMO because you are basically watching the market to move constantly that might stress you out more.

You should try scalping since being a full time trader doesn't mean you will become a successful trader. Try any different approach that would eventually going to benefit you the most.

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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?

Well, does not matter --full-time trader or part-time trader does not matter and even if you are a scalper, there is no guarantee that you will become a successful trader because this will need skills and knowledge and the last part is experience. For me, ^{[RISK management]} is the best answer, not the measurement of how long you are in trading because it will measure the negative outcome of risk and if you can manage very well, the negativity outcome will less and the chances to becomes a successful trader becomes quite high which is potential can gain profit. But to overcome this, of course --you need to have more practice to gain 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, it is not necessary for you to work exclusively as a trader to become successful, however by not doing this as your main occupation this means that you are going to lose many opportunities to trade the market, this means that you are not going to be as profitable and that the learning curve is going to be even more steep for you as you will not have the same amount of practice as those that trade as their main occupation, but this is compensated by the fact that you can work in another job and get income in that way as well.

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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 will become profitable if you have enough skills of knowledge and it depends also which do you prefer, i mean if it's short term or long term becuase that's the two types of way how you can trade and make profits. If you want short term, yes definitely you need more time to monitor the graph wherein in order to get the right timing such to place order and to make an exit especially when it comes scalping.. Unlike long term that after buying the only thing you need to do is to check your portfolio even once a day if it's all well then you can leave it as simple as that.. Lastly which is more profitable? Obviously it's long term no need to explain. Grin

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