Topic: Early Profit can be misleading. - page 4. (Read 981 times)
If you're the type that is graced with the opportunity to realize an early gain then you must also know that this is not a constant thing whereby you may continue to have such result over time, you put in your money to set in and also always get set in pulling out because for the fact that you made it early last time isn't applicable for all times, then also what you do with that your gain matters later because it will tell wether you spent it wisely or waste it all.
Should newbie traders be only concerned about making profit? I do not think so.
I feel that every newbie trader should first be concerned about fully understanding trading regardless of if they make profit or not at the beginning of their trading life. A newbie trader who enjoys profits mostly during his early life as a trader may be misled to begin to think that he has cracked the code to trading and will continue making profits. Newbie traders who experience some kind of losses at the early stage of their life but still continue in trading know better how trading can be, and because of the early experience that they have had, they are at a position of becoming much better traders than those that enjoyed easy profit at the beginning which can be misleading. What do you think, let us discuss?
Every trader has different mindset in trading. Some started with losses, and so they tend to learn more so they can improve their trading and later on make profits. But some traders would never have the courage to continue trading, maybe they lose amount of huge funds already so they just decide to quit and leave trading for good. That’s the reason why every trader should trade with caution. Whether they lose or make profits at the start, the important thing is on how they will continue trading by trying to avoid another losses and maximize their gains. I feel that every newbie trader should first be concerned about fully understanding trading regardless of if they make profit or not at the beginning of their trading life. A newbie trader who enjoys profits mostly during his early life as a trader may be misled to begin to think that he has cracked the code to trading and will continue making profits. Newbie traders who experience some kind of losses at the early stage of their life but still continue in trading know better how trading can be, and because of the early experience that they have had, they are at a position of becoming much better traders than those that enjoyed easy profit at the beginning which can be misleading. What do you think, let us discuss?
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.What do you think, let us discuss?
be it investing or trading in crypto is very complex and the risk is also high,
better keep learning and it will really help in the future.
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.What do you think, let us discuss?
trades but of course when confidence do sets in then this is where mistakes would be starting to pile up.Just because you have those initial thoughts that trading is easy because you have profitted into those
earlier trades and then you do have into your mind that it was simple but its not really that simple as you do believe on on the time that you would be experiencing on how harshs
this market could be when it comes to moving prices or simply with the volatility aspect.
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.What do you think, let us discuss?
Should newbie traders be only concerned about making profit? I do not think so.
Any newbie to the trading world should not be focusing on short term profit in my opinion. Crypto prices tend to fluctuate a lot and it's hard to stay on top of the current trends. You are also right that we should be focusing more about learning and getting experience than making the highest possible return. But we should always keep an eye on the profitability of our trading strategies and if we are making losses we need might need to adapt to new market conditions.Just like op heard said, early profits can be very misleading because one might be thinking that he does not need the help or tutor of any protraders around him because he had starting making some few dollars from the market. The can can be tricky atimes especially for those newbies who joined the market and start making profits immediately without passing through any difficulties or making loses. Although sometimes I see it as luck since the market moves in a different way from our general perspective and making profits from the market does not really mean that you are a good trader at the initial stage.
I agree that early profits are misleading. There are different circumstances that might happen since there is no guarantee that you would get profit. It might happen to some people but not to all. Beginner's luck might come to your mind but keep in mind that market and economy is always changing. So, we should always be adaptable to these changes. Learn to assess the economy and see to it how you can apply your past experience to this current market. When you are newbie, it is best to explore the market cautiously so that you can gain experiences that you can use in the future.
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Just give them time. Even professional traders are having obviously a newbie mindset back when they are noobs.
Just give them time. Even professional traders are having obviously a newbie mindset back when they are noobs.
I feel myself still a newbie in trading and most things I can advise are about how not to make the same silly mistakes I did or saw multiple times. Well, what is good in that I've got some experience is that I lose now much more rare than in the beginning, but if about earning I'd say that I get more from those deals which become more investing than trading. And I guess it's not so bad even if it is not too much. At least I usually do not go into the red when viewed in retrospect.
I agree, there will always be a newbie era for us to everything that we will do. Mistakes are normal to have but it is best to minimize it so that damages would be minimized too. Also, we should always learn from these mistakes and never ever do it twice again. It is great to have experience since these would be very vital and useful to your future decisions.
Should newbie traders be only concerned about making profit? I do not think so.
I feel that every newbie trader should first be concerned about fully understanding trading regardless of if they make profit or not at the beginning of their trading life. A newbie trader who enjoys profits mostly during his early life as a trader may be misled to begin to think that he has cracked the code to trading and will continue making profits. Newbie traders who experience some kind of losses at the early stage of their life but still continue in trading know better how trading can be, and because of the early experience that they have had, they are at a position of becoming much better traders than those that enjoyed easy profit at the beginning which can be misleading. What do you think, let us discuss?
I feel that every newbie trader should first be concerned about fully understanding trading regardless of if they make profit or not at the beginning of their trading life. A newbie trader who enjoys profits mostly during his early life as a trader may be misled to begin to think that he has cracked the code to trading and will continue making profits. Newbie traders who experience some kind of losses at the early stage of their life but still continue in trading know better how trading can be, and because of the early experience that they have had, they are at a position of becoming much better traders than those that enjoyed easy profit at the beginning which can be misleading. What do you think, let us discuss?
To me trading is a lot like gambling. And in gambling noobs are often lucky (only to lose a lot later). And the more you initially win, the more you eventually lose. So you need to be extra careful if your initial trades are successful.
That's why they called newbie traders, right?
These newbie traders are still in the process of learning something and that includes learning those necessary things to do while doing trades. For sure, if these newbies are really serious on what they are doing, they will realized what's the best thing to do later on.
Just give them time. Even professional traders are having obviously a newbie mindset back when they are noobs.
Before they jump into any world, the most important thing to do is to study and understand that field. You are right, a professional trader is formed from a beginner who is serious about learning his field. In my opinion, there are many important points that a beginner must learn, one of which is by maintaining psychology, because they will be faced with losses that might traumatize them, and this greatly affects the psychology of beginners in trading. Beginners should not be too ambitious to pursue profits, because they have not fully mastered this field. These newbie traders are still in the process of learning something and that includes learning those necessary things to do while doing trades. For sure, if these newbies are really serious on what they are doing, they will realized what's the best thing to do later on.
Just give them time. Even professional traders are having obviously a newbie mindset back when they are noobs.
...
Just give them time. Even professional traders are having obviously a newbie mindset back when they are noobs.
Just give them time. Even professional traders are having obviously a newbie mindset back when they are noobs.
I feel myself still a newbie in trading and most things I can advise are about how not to make the same silly mistakes I did or saw multiple times. Well, what is good in that I've got some experience is that I lose now much more rare than in the beginning, but if about earning I'd say that I get more from those deals which become more investing than trading. And I guess it's not so bad even if it is not too much. At least I usually do not go into the red when viewed in retrospect.
Should newbie traders be only concerned about making profit? I do not think so.
Making money is the main goal of any trader, why else would you risk your existing money to make a profit? The main question now is do we focus on short term profit or long term profit. As a day trader the only real concern is short term profit and to repeat it regularly. The average investor is more concerned with medium to long term profits, which in my opinion involves much less risk than day trading. Any newbie to the trading world should not be focusing on short term profit in my opinion. Crypto prices tend to fluctuate a lot and it's hard to stay on top of the current trends. You are also right that we should be focusing more about learning and getting experience than making the highest possible return. But we should always keep an eye on the profitability of our trading strategies and if we are making losses we need might need to adapt to new market conditions.
Should newbie traders be only concerned about making profit? I do not think so.
I feel that every newbie trader should first be concerned about fully understanding trading regardless of if they make profit or not at the beginning of their trading life. A newbie trader who enjoys profits mostly during his early life as a trader may be misled to begin to think that he has cracked the code to trading and will continue making profits. Newbie traders who experience some kind of losses at the early stage of their life but still continue in trading know better how trading can be, and because of the early experience that they have had, they are at a position of becoming much better traders than those that enjoyed easy profit at the beginning which can be misleading. What do you think, let us discuss?
I feel that every newbie trader should first be concerned about fully understanding trading regardless of if they make profit or not at the beginning of their trading life. A newbie trader who enjoys profits mostly during his early life as a trader may be misled to begin to think that he has cracked the code to trading and will continue making profits. Newbie traders who experience some kind of losses at the early stage of their life but still continue in trading know better how trading can be, and because of the early experience that they have had, they are at a position of becoming much better traders than those that enjoyed easy profit at the beginning which can be misleading. What do you think, let us discuss?
That's why they called newbie traders, right?
These newbie traders are still in the process of learning something and that includes learning those necessary things to do while doing trades. For sure, if these newbies are really serious on what they are doing, they will realized what's the best thing to do later on.
Just give them time. Even professional traders are having obviously a newbie mindset back when they are noobs.
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.What do you think, let us discuss?
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.What do you think, let us discuss?
How did you say that the early profit is misleading? Couldn't he just find the right time to make money here in crypto or in any business? Also, even if you are new to this, there are times when you can earn money right away while you are just starting to study in this kind of field of business in cryptocurrency. And this will always depend on the idea you can get here as an indibidual community in this industry anyway.
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. What do you think, let us discuss?
Newbie traders who experience some kind of losses at the early stage of their life but still continue in trading know better how trading can be, and because of the early experience that they have had, they are at a position of becoming much better traders than those that enjoyed easy profit at the beginning which can be misleading. What do you think, let us discuss?
Learning nothing and going straight to tradings is a bad idea. The first step should always be to study the market. How it works at which time. Learn the basics and gather knowledge as much as you can. Then the second step is to try it out. You should always start with a very small amount, even if you have enough assets to start large tradings. Apply your knowledge and try to follow the rules. That way, you can also get the knowledge on how to control your emotions. This is a very important part. Loss or profits, doesn't matter, just follow the rules. It's getting hard? Try to follow some signals available on the internet and compare your calculations.
Next is to slightly increase your trading value. If one can keep this up, they can become a pro for sure. It's all about patience and following the rules and strategy.
One more thing I want to add is that newbies always choose future tradings first with higher leverage. Then they get liquidated. My advice is to start with DCA, then try out spot trading. If you can predict the market good, then move to future trading. And the high risk is still there.
Exactly mate and I've been an advocate of this very act over the years and I always tell people that no matter how small the profit would be, it is always advisable to take out the profits at least at the end of the day's trade.
Traders especially the newbies should atleast focus more on learning than on making profits though making profits should be an added advantage.
And no matter how good ones trading skills could be, it is always advisable to always practice risk management as this one will help keep you in market.
Traders especially the newbies should atleast focus more on learning than on making profits though making profits should be an added advantage.
And no matter how good ones trading skills could be, it is always advisable to always practice risk management as this one will help keep you in market.
It doesn't have to be every day, you can withdraw profits every week, because not all days can be successful, and withdrawing every day is a difficult task. Even depending on the type of trading, this may not always be every week, but the main idea should be to withdraw profits to the wallet from the trading account. Profit in trading is just as important, even while learning, as it will be an additional incentive for further learning.
When trading I usually don't withdraw the entire amount of profit, I only withdraw 50% or 70%, because besides withdrawing profits, I also increase the amount of my capital when trading. Things like this are like trivial things, but if done consistently it really makes us more flexible in trading.
Should newbie traders be only concerned about making profit? I do not think so.
I feel that every newbie trader should first be concerned about fully understanding trading regardless of if they make profit or not at the beginning of their trading life. A newbie trader who enjoys profits mostly during his early life as a trader may be misled to begin to think that he has cracked the code to trading and will continue making profits. Newbie traders who experience some kind of losses at the early stage of their life but still continue in trading know better how trading can be, and because of the early experience that they have had, they are at a position of becoming much better traders than those that enjoyed easy profit at the beginning which can be misleading. What do you think, let us discuss?
Early profit can be misleading for newbie traders if greedyness entered to their mind. And what you have said already that it is obvious to understanding the all kinds of facts in trading to every traders for gaining profit in a trade. And if this happens will distracted, then in most cases new traders will have to face losses. I feel that every newbie trader should first be concerned about fully understanding trading regardless of if they make profit or not at the beginning of their trading life. A newbie trader who enjoys profits mostly during his early life as a trader may be misled to begin to think that he has cracked the code to trading and will continue making profits. Newbie traders who experience some kind of losses at the early stage of their life but still continue in trading know better how trading can be, and because of the early experience that they have had, they are at a position of becoming much better traders than those that enjoyed easy profit at the beginning which can be misleading. What do you think, let us discuss?
I tell from my real life experience when a friend of mine came to learn new trading after telling him about the possibility of profit in future trading he gave me some dollars to test it initially and later I was able to earn some dollar profit for the first time. And getting a good amount of profit in such a short period of time got him greedy and later he went to futures trading with a large amount and lost the entire fund because of not knowing about the liquidation.
Exactly mate and I've been an advocate of this very act over the years and I always tell people that no matter how small the profit would be, it is always advisable to take out the profits at least at the end of the day's trade.
Traders especially the newbies should atleast focus more on learning than on making profits though making profits should be an added advantage.
And no matter how good ones trading skills could be, it is always advisable to always practice risk management as this one will help keep you in market.
Traders especially the newbies should atleast focus more on learning than on making profits though making profits should be an added advantage.
And no matter how good ones trading skills could be, it is always advisable to always practice risk management as this one will help keep you in market.
It doesn't have to be every day, you can withdraw profits every week, because not all days can be successful, and withdrawing every day is a difficult task. Even depending on the type of trading, this may not always be every week, but the main idea should be to withdraw profits to the wallet from the trading account. Profit in trading is just as important, even while learning, as it will be an additional incentive for further learning.
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