Early Profit can be misleading. - page 2.

stomachgrowls

hero member

Activity: 3010

Merit: 794

Quote from: uswa56 on May 04, 2023, 04:49:33 AM

Quote from: Hamphser on May 03, 2023, 02:55:07 PM

Quote from: MIner1448 on May 03, 2023, 02:47:29 PM

I agree with your opinion. Making a profit is an important aspect of trading, but novice traders should also pay attention to mastering the fundamental and technical aspects of trading. This includes an understanding of trading instruments, the ability to analyze the market and make informed decisions.
Newbie traders who start their careers with easy profits may feel confident, but if they do not understand what is behind their success, they can easily lose their money in the future. On the other hand, if a novice trader starts his career with losses, he may consider it a failure, but if he continues to learn the trade and overcome his mistakes, he may become a more successful trader in the future.

Initial profits is common on which we could say or pertain about beginners luck but sustaining it would be the main issue due to lack of skills and knowledge and this is where you would be already minding that you

should be learning more. Then how? Of course you would really be keeping on doing trading and learn up all the things that you should be learning on the way.This doesnt involved on short time duration but rather it would be a long one which you would be able to experience lots of trial and errors along the way which i could say that it would be normal. I couldn't really blame out those noobs who would really be having those thoughts that it would really be just easy or simply.
On the time that reality would be faced on then you would really be realizing that you do still have a long way to go on for you to have that good grasps on everything.

it all depends on how a person does things for the future because everyone is different, there are those who will develop better by continuing to learn, there are also those who seem to stop learning and do what they can.
actually getting an advantage at the beginning will be a separate motivation for everyone but back again as before that every time people understand it in a different way.
Getting profit or not is actually a natural condition when we are just doing it, but how can we continue to learn and be consistent to be able to get it all, in my opinion, is the key.

Motivation and indeed consistency on what you are doing because if you do have already set up some goals earlier then it would be depending whether these things would be altered out or not. It does really depend
on what you actions would really are and this isnt something that you could ignore it out.If you wont act then you wont really be seeing yourself on having those progress.I agree on what @Hamphser said above that noobs would really be diving in into something without even trying to rethink on what they've been involving into and just simply invest and trade out without having those kind of awareness.

Early profits could really be something that give out some boost specially if its your first time.You would really be having thoughts that you can do this all day and would really be making huge profits
in no time which it is really that a bad thing to have in mind. When you do profit then try to look back on what you have done because the market is really that very dynamic on which it could
changed and shift up on different pathways neither up or down in a blink of an eye.This is why you should really be that versatile.

uswa56

full member

Activity: 994

Merit: 213

Quote from: Hamphser on May 03, 2023, 02:55:07 PM

Quote from: MIner1448 on May 03, 2023, 02:47:29 PM

I agree with your opinion. Making a profit is an important aspect of trading, but novice traders should also pay attention to mastering the fundamental and technical aspects of trading. This includes an understanding of trading instruments, the ability to analyze the market and make informed decisions.
Newbie traders who start their careers with easy profits may feel confident, but if they do not understand what is behind their success, they can easily lose their money in the future. On the other hand, if a novice trader starts his career with losses, he may consider it a failure, but if he continues to learn the trade and overcome his mistakes, he may become a more successful trader in the future.

Initial profits is common on which we could say or pertain about beginners luck but sustaining it would be the main issue due to lack of skills and knowledge and this is where you would be already minding that you

should be learning more. Then how? Of course you would really be keeping on doing trading and learn up all the things that you should be learning on the way.This doesnt involved on short time duration but rather it would be a long one which you would be able to experience lots of trial and errors along the way which i could say that it would be normal. I couldn't really blame out those noobs who would really be having those thoughts that it would really be just easy or simply.
On the time that reality would be faced on then you would really be realizing that you do still have a long way to go on for you to have that good grasps on everything.

it all depends on how a person does things for the future because everyone is different, there are those who will develop better by continuing to learn, there are also those who seem to stop learning and do what they can.
actually getting an advantage at the beginning will be a separate motivation for everyone but back again as before that every time people understand it in a different way.
Getting profit or not is actually a natural condition when we are just doing it, but how can we continue to learn and be consistent to be able to get it all, in my opinion, is the key.

jokers10

legendary

Activity: 1974

Merit: 3049

Quote from: Alpha Marine on May 03, 2023, 05:05:42 PM

I don't know about everybody, but within me, I know when things happen to me based on sheer luck. I've been in situations where I did something and it worked perfectly and everybody started seeing me as a pro but deep down I knew I was just lucky and I started feeling like a fraud.

I kind of agree with what @Jody.Drummer said. When you are aware of your own abilities you should know when you are not good enough to achieve the result you achieved. Some people might say it's limiting yourself but I don't agree. It's just you being true to yourself and being realistic.
Saying you're not too good at something doesn't mean you're limiting yourself, I believe it's you acknowledging that you are not good enough but you are ready and willing to improve.

Impostor syndrome can also make problems. Many others are not more professional in many cases and it is important to keep balance in evaluating your possibilities: not to think you can everything when you have a lack of information but not to underestimate your abilities when you start to understand how complicated things are also.

And of course additional education and self-development are always good, non depending on an actual level of professionalism.

Alpha Marine

sr. member

Activity: 756

Merit: 356

Quote from: jokers10 on April 16, 2023, 12:22:08 AM

Quote from: Jody.Drummer on April 15, 2023, 12:07:41 PM

One of them is by being aware of one's own abilities, I mean people (beginners) who have thoughts like that are people who are arrogant and think they have the ability and knowledge. Things like this are things that must be realized by themselves, because they themselves know the abilities that exist within themselves. To minimize them so that they don't become arrogant when they get early profits, one of them is to have them mentored by people who are more experienced. People who have already been in a space like this must understand what really happens in that first advantage.

Getting a more experienced mentor is a good idea, but if that mentor will say that you should be wise then he is not good. You never can know if you are wise or wise enough for some enterprise, it is not what you can know about yourself exactly. If you are too impulsive and need correct your trading basing on that knowledge you can know that and use that knowledge, if you are too fear of risks... You can know many things about yourself but hardly about if you are enough wise or not. So we need exact advice from mentors to not be mislead with an early profit and not general words of staying wise.

I don't know about everybody, but within me, I know when things happen to me based on sheer luck. I've been in situations where I did something and it worked perfectly and everybody started seeing me as a pro but deep down I knew I was just lucky and I started feeling like a fraud.

I kind of agree with what @Jody.Drummer said. When you are aware of your own abilities you should know when you are not good enough to achieve the result you achieved. Some people might say it's limiting yourself but I don't agree. It's just you being true to yourself and being realistic.
Saying you're not too good at something doesn't mean you're limiting yourself, I believe it's you acknowledging that you are not good enough but you are ready and willing to improve.

Hamphser

sr. member

Activity: 2604

Merit: 338

Vave.com - Crypto Casino

Quote from: MIner1448 on May 03, 2023, 02:47:29 PM

I agree with your opinion. Making a profit is an important aspect of trading, but novice traders should also pay attention to mastering the fundamental and technical aspects of trading. This includes an understanding of trading instruments, the ability to analyze the market and make informed decisions.
Newbie traders who start their careers with easy profits may feel confident, but if they do not understand what is behind their success, they can easily lose their money in the future. On the other hand, if a novice trader starts his career with losses, he may consider it a failure, but if he continues to learn the trade and overcome his mistakes, he may become a more successful trader in the future.

Initial profits is common on which we could say or pertain about beginners luck but sustaining it would be the main issue due to lack of skills and knowledge and this is where you would be already minding that you

should be learning more. Then how? Of course you would really be keeping on doing trading and learn up all the things that you should be learning on the way.This doesnt involved on short time duration but rather it would be a long one which you would be able to experience lots of trial and errors along the way which i could say that it would be normal. I couldn't really blame out those noobs who would really be having those thoughts that it would really be just easy or simply.
On the time that reality would be faced on then you would really be realizing that you do still have a long way to go on for you to have that good grasps on everything.

MIner1448

member

Activity: 938

Merit: 13

Tontogether | Save Smart & Win Big

I agree with your opinion. Making a profit is an important aspect of trading, but novice traders should also pay attention to mastering the fundamental and technical aspects of trading. This includes an understanding of trading instruments, the ability to analyze the market and make informed decisions.
Newbie traders who start their careers with easy profits may feel confident, but if they do not understand what is behind their success, they can easily lose their money in the future. On the other hand, if a novice trader starts his career with losses, he may consider it a failure, but if he continues to learn the trade and overcome his mistakes, he may become a more successful trader in the future.

ShowOff

legendary

Activity: 2618

Merit: 1181

Quote from: kojektea on May 03, 2023, 10:12:07 AM

I think it's just the opposite. long-held gains are the most deceptive. I even experienced it myself, if the coin is at the peak of the bull, there is no reason to hold it, even if it goes up, the risk when holding it is much higher. I experience this very often, it's good to take advantage early. especially if the project has just been listed on the market. playing the price with fast time is the best to make profit.

If you don't want to get stuck at the highest price, then don't buy at that range to start investing. While you can take profits at the highest peak of the price "ATH" - without a doubt it is recommended if you are simply a cyclical or seasonal investor. After all it really depends on your plans regarding investment, so this should be a normal practice that can't be faulted.

Scalping for the short term is great, but what you need to avoid is gambling on the bitcoin price, I mean it's kind of investing hoping your luck brings 2x, 3x or more returns. But try to understand properly, bitcoin is an asset that has the potential to become more expensive year after year so profits in the long term is something that has a high chance of getting.

Quote

Re: Early Profit can be misleading.

Maybe, but not all.

Altryist

legendary

Activity: 2100

Merit: 1340

Quote from: TheUltraElite on May 03, 2023, 09:51:22 AM

Its all about control of emotions. Becoming euphoria on a profit or becoming demoralized on a loss are both bad for a trader, they have to remain humble and neutral to be able to make the next trade with finesse. Both profit and loss will happen during any trader's journey, so taking the losses as lessons is not easy for most, after all it is their hard earned money.

After a successful transaction, you should also not rush to open new transactions, they can be carried out on emotions, and this is not very good, besides, in trading, like in any other work, you need rest, so when you close a successful transaction, you can simply do some period of rest. In this way, our emotional state can be more resilient as we allow it to recover. This all comes with experience, but at first it may seem that more is better.

kojektea

sr. member

Activity: 2352

Merit: 256

Vave.com - Crypto Casino

I think it's just the opposite. long-held gains are the most deceptive. I even experienced it myself, if the coin is at the peak of the bull, there is no reason to hold it, even if it goes up, the risk when holding it is much higher. I experience this very often, it's good to take advantage early. especially if the project has just been listed on the market. playing the price with fast time is the best to make profit.

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Quote from: jokers10 on April 17, 2023, 01:32:59 AM

In one hand getting early income can make a trader careless, but in another hand early losses can demotivate in trading at all, because the one can think trading is too hard and it is better not to risk.

Its all about control of emotions. Becoming euphoria on a profit or becoming demoralized on a loss are both bad for a trader, they have to remain humble and neutral to be able to make the next trade with finesse. Both profit and loss will happen during any trader's journey, so taking the losses as lessons is not easy for most, after all it is their hard earned money.

To be able to play it safe, they should just go with the buy low sell high method in long term. Day trading and other non-spot trading methods will only lead to losses more than profits, actually because they are gambling. This method is time tested and it will give you profit if you have enough patience and time at hand.

kelonmusk

member

Activity: 198

Merit: 10

COMBO Network ex COCOS-BCX

Newbie traders should focus on learning the ins and outs of trading rather than just chasing profits. I think it's crucial for them to understand the risks and complexities associated with trading before they set their sights on making money.

Sure, early profits might feel great, but they could also lead to overconfidence and a lack of preparedness for when the market takes a downturn.

I suggest that new traders concentrate on building a strong foundation of knowledge and skills, which will ultimately help them make more informed decisions and become better traders in the long run.

Losses can actually be valuable learning experiences if they encourage traders to analyze their mistakes and refine their strategies. Let's not overlook the importance of learning and growing as a trader, rather than just focusing on making profits.

Oilacris

hero member

Activity: 2996

Merit: 609

Quote from: Jody.Drummer on April 15, 2023, 12:07:41 PM

Quote from: jokers10 on April 15, 2023, 04:34:25 AM

Quote from: ?? on ??

The most important thing after this is not to become impudent. Alas, often getting the first profit, the trader thinks that he is a guru and can do everything. And it would be worth analyzing everything in order to get a good result and then.

Okay, how? We know that we should be healthy, wealthy and wise but many still are not. So it is not enough to say something well known, we need to know how to achieve that and not many know that. If you get an early profit how can you know that it is just a luck and not a result of your knowledge? If you have profit with a 10 year experience how to know that your profit is based on your knowledge and experience and it wasn't luck for all those years? Maybe some wise people can say that, but majority prefer to believe in their own abilities and it is natural. And to say that they should be wise... maybe we all should but not all of us know how.

One of them is by being aware of one's own abilities, I mean people (beginners) who have thoughts like that are people who are arrogant and think they have the ability and knowledge. Things like this are things that must be realized by themselves, because they themselves know the abilities that exist within themselves. To minimize them so that they don't become arrogant when they get early profits, one of them is to have them mentored by people who are more experienced. People who have already been in a space like this must understand what really happens in that first advantage.

Just let them be on what they've been thinking because once reality would be slapping out into their faces then for sure they would really be making those kind of realizations that dealing up with this market isnt something that you could really be able to joke upon or wouldnt really be taking it seriously. Beginners luck or those initial profitable trades could really give out that kind of impression on the time you been able to start up.We are just humans where those wrong first impressions would really be that common and now we are starting to believe that
trading is easy and something that we could do this all day and make ourselves rich in no time.

This is why its really that important to have that realistic approach when dealing up with trading because if you do stick with that kind of impression or beliefs on first try then you are really
that putting yourself into that possible risks which might cause up some huge losses later on. So better be wary as early as you can because
having those bad or wrong mindset could lead up into a disaster.

merekamo

member

Activity: 393

Merit: 13

Sugars.zone | DatingFi - Earn for Posting

I completely agree with you. I think that new traders should focus on learning and understanding the market before focusing solely on making a profit. It's important for them to be aware of the risks involved in trading and understand the different strategies that can be used to make a profit.

In my opinion, a trader who is able to manage risk effectively and has a solid understanding of the market is much more likely to be successful in the long run, even if they experience some losses at the beginning. So, it's important for new traders to prioritize learning and understanding the market, rather than just focusing on making a profit.

jokers10

legendary

Activity: 1974

Merit: 3049

Quote from: ItsCrafty on April 16, 2023, 11:26:50 AM

...
i agree that loses will make him strong traders and he will be able to trade in any condition
...

Or it will scare off from trading. In one hand getting early income can make a trader careless, but in another hand early losses can demotivate in trading at all, because the one can think trading is too hard and it is better not to risk. Well, hand on heart, I don't even know if it is bad. Trading is not for each and every so if someone will decide not to trade... maybe it is even good. But if we expect someone to become an experienced trader then it is good to have as positive as negative experience, IMO.

ItsCrafty

full member

Activity: 826

Merit: 135

Tontogether | Save Smart & Win Big

Quote from: Bananington on March 29, 2023, 12:07:28 PM

Should newbie traders be only concerned about making profit? I do not think so.

Every body want profit from trading and learning is mandatory for long term and constant profit. newbies early profit is not bad if one has also good knowledge of trading. I think it will increase the confidence of newbie like making century in first cricket game will give more confidence to player.

Newbies can learn from loses but its negative point is that one can stop trading because of early losing because its will make him discouraged they he cannot make profit. learnings basic trading rules and tools is enough for newbie. i agree that loses will make him strong traders and he will be able to trade in any condition and will ready for any lost which is possible in crypto but u mentioned some negative point also. In short i think making profit in start is not bad.

jokers10

legendary

Activity: 1974

Merit: 3049

Quote from: Jody.Drummer on April 15, 2023, 12:07:41 PM

One of them is by being aware of one's own abilities, I mean people (beginners) who have thoughts like that are people who are arrogant and think they have the ability and knowledge. Things like this are things that must be realized by themselves, because they themselves know the abilities that exist within themselves. To minimize them so that they don't become arrogant when they get early profits, one of them is to have them mentored by people who are more experienced. People who have already been in a space like this must understand what really happens in that first advantage.

Getting a more experienced mentor is a good idea, but if that mentor will say that you should be wise then he is not good. You never can know if you are wise or wise enough for some enterprise, it is not what you can know about yourself exactly. If you are too impulsive and need correct your trading basing on that knowledge you can know that and use that knowledge, if you are too fear of risks... You can know many things about yourself but hardly about if you are enough wise or not. So we need exact advice from mentors to not be mislead with an early profit and not general words of staying wise.

Jody.Drummer

hero member

Activity: 1750

Merit: 567

Leading Crypto Sports Betting & Casino Platform

Quote from: jokers10 on April 15, 2023, 04:34:25 AM

Quote from: ?? on ??

The most important thing after this is not to become impudent. Alas, often getting the first profit, the trader thinks that he is a guru and can do everything. And it would be worth analyzing everything in order to get a good result and then.

Okay, how? We know that we should be healthy, wealthy and wise but many still are not. So it is not enough to say something well known, we need to know how to achieve that and not many know that. If you get an early profit how can you know that it is just a luck and not a result of your knowledge? If you have profit with a 10 year experience how to know that your profit is based on your knowledge and experience and it wasn't luck for all those years? Maybe some wise people can say that, but majority prefer to believe in their own abilities and it is natural. And to say that they should be wise... maybe we all should but not all of us know how.

One of them is by being aware of one's own abilities, I mean people (beginners) who have thoughts like that are people who are arrogant and think they have the ability and knowledge. Things like this are things that must be realized by themselves, because they themselves know the abilities that exist within themselves. To minimize them so that they don't become arrogant when they get early profits, one of them is to have them mentored by people who are more experienced. People who have already been in a space like this must understand what really happens in that first advantage.

jokers10

legendary

Activity: 1974

Merit: 3049

Quote from: ?? on ??

The most important thing after this is not to become impudent. Alas, often getting the first profit, the trader thinks that he is a guru and can do everything. And it would be worth analyzing everything in order to get a good result and then.

Okay, how? We know that we should be healthy, wealthy and wise but many still are not. So it is not enough to say something well known, we need to know how to achieve that and not many know that. If you get an early profit how can you know that it is just a luck and not a result of your knowledge? If you have profit with a 10 year experience how to know that your profit is based on your knowledge and experience and it wasn't luck for all those years? Maybe some wise people can say that, but majority prefer to believe in their own abilities and it is natural. And to say that they should be wise... maybe we all should but not all of us know how.

DoublerHunter

hero member

Activity: 2590

Merit: 644

Quote from: Viscore on April 14, 2023, 05:43:22 PM

Quote from: Davidvictorson on April 07, 2023, 02:50:13 PM

Quote from: Bananington on March 29, 2023, 12:07:28 PM

Should newbie traders be only concerned about making profit? I do not think so.

What do you think, let us discuss?

While I agree with the OP's point, can I also point out that profit making is in trading shouldn't be ignored. Because if all you have experienced as a trader is loss, I can bet that you are already demoralized and demotivated to keep trading. As a newbie trader, it lies on you to find an equilibrium point between making profit and being grounded in the principle of trading. Make profit will keep you interested in trading.

That’s the reason why both profiting and losing shouldn’t be ignored. It’s okay if you are consistently making profits in trading because that’s a sign that you are applying what you have actually learned from your first trading experiences, but if you see yourself in consistent losses, I think that’s already a bad sign. Maybe you are just using wrong strategies or it’s just that, you are not meant to be a good trader. That way, you can just settle in hodling first.

^Early profit considering you are new in trading.
Newbie traders should first focus on understanding the market, developing their trading skills and knowledge, and learning how to manage risk effectively. This approach can help them make good trading decisions and avoid making impulsive decisions based solely on the desire to make a profit. Because for me, experiencing losses early on can serve as a valuable learning opportunity and help newbie traders develop resilience and patience, both of which are critical traits for successful trading in the long run.

Viscore

hero member

Activity: 3178

Merit: 661

Live with peace and enjoy life!

Quote from: Davidvictorson on April 07, 2023, 02:50:13 PM

Quote from: Bananington on March 29, 2023, 12:07:28 PM

Should newbie traders be only concerned about making profit? I do not think so.

What do you think, let us discuss?

While I agree with the OP's point, can I also point out that profit making is in trading shouldn't be ignored. Because if all you have experienced as a trader is loss, I can bet that you are already demoralized and demotivated to keep trading. As a newbie trader, it lies on you to find an equilibrium point between making profit and being grounded in the principle of trading. Make profit will keep you interested in trading.

That’s the reason why both profiting and losing shouldn’t be ignored. It’s okay if you are consistently making profits in trading because that’s a sign that you are applying what you have actually learned from your first trading experiences, but if you see yourself in consistent losses, I think that’s already a bad sign. Maybe you are just using wrong strategies or it’s just that, you are not meant to be a good trader. That way, you can just settle in hodling first.

Topic: Early Profit can be misleading. - page 2. (Read 981 times)