Early Profit can be misleading. - page 6.

Kasabus

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Quote from: FanEagle on April 02, 2023, 04:16:33 PM

Quote from: martyns on April 01, 2023, 11:56:02 PM

Sometimes a trader can also make profit in his first trading session and also continue to make more profits ever after the first win.I even see it that when someone wins in the first trading session,it's a sign that trading will bring more profit than loses to the person,because it is always rare that one will win in his first trading session.It is a sign that good luck is about to be unfolded on the person.
I know quite well that trading experience comes from different loses,but one can also use another person to learn and therefore avoid the mistakes he is supposed to make in his first trade,and win rather than losing.Therefore,I am on the opinion that not all trading newbies that win on their first trading session will get difficulties as time goes on in trading,rather,it's a sign that he will be lucky on more future trading.

If they made their first profit in their first try, it can be a sign that they already learned but sometimes a newbie trader can also get lucky and made a profit even if they skip the learning part. This can be the one that is misleading because they will be tempted to try again even if most of their trades are not doing well anymore.

It might be possible to use another person to do trading for you but he is the ones that will learn and benefit more in the future, not you. Will you let that happen? And what if he decided to resign someday? What will happen to you? This is why it's still better to learn and trade on our own. We shouldn't be afraid of the mistakes because they can still be corrected and the losses can still turn into profits later on.

It's a reality that some were able to trade with beginner's luck and end up profiting. But that does not guarantee that if you become profitable today, you will also be profitable the next time you trade. This is quite misleading for beginners as they initially think that when you trade, you will get tons of money after that, not realizing that trading is never easy and one who makes consistent profits may have also experience constant losing at first. However, the mindset of beginner traders will typically improve through his trading experiences.

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Quote from: Bananington on March 29, 2023, 01:07:28 PM

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

Obviously, in trading, the only concern is how to make a profit. With that, traders will do everything to get it. They will strive to learn everything in order to get profit. That includes learning the basics, and advancing into mastering trading. Any trader can't just ignore profit, after all, that is the reason why we are trying hard to know the left and rights of trading. and all the options in the market.

As a newbie, it might be an upper hand to have beginner's luck but I am sure this newbie will strive hard to maintain that profit. But all in all, we do all this kind of learning to make a profit.

Dr.Bitcoin_Strange

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I would refer to the early profits as being lucky in the first stage of trading, which is also a symbol of hope for the newbie to try hard. Trading involves a lot of logic and strategy, and the newbie must be vigilant to know which strategies they have combined to make their first profit; otherwise, if they feel they are too good for an early profit, they could be misled by their instinct.

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Quote from: jokers10 on April 03, 2023, 05:40:31 AM

Quote from: AmoreJaz on April 02, 2023, 05:45:15 PM

for sure, a lot of noobs have their misconception when they got into this market. they thought, they can easily get huge profits once they plunge into trading. but they will surely get the real picture when they start losing some of their funds.

Well, I guess there's nothing more than warning about inevitable losses we can do for newbies who want to start trading. Of course we can recommend learn more about trading, not to risk with all money, not to risk too much, etc, but they'll likely make their own mistakes anyway. If they'll remember our warnings they'll can easier draw conclusions from their experience and probable be more cautious if they'll get profit from at the beginning, but what can we do else?

Giving warnings or not, they would really be experiencing for themselves on what the reality about trading.Losses are inevitable and something that you cant really be able to avoid even how professional

or expert you are on this field.When it comes to early profits then its normal because we do have that 50-50% chance whether the price going up or down basing on our entry point.

Therefore, on the time when you had just started and ended up on profitable, it is really just that part of human instincts on having that boost up of emotion.
You would really be having those thoughts that this would really be just easy peazzy..

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Quote from: AmoreJaz on April 02, 2023, 05:45:15 PM

for sure, a lot of noobs have their misconception when they got into this market. they thought, they can easily get huge profits once they plunge into trading. but they will surely get the real picture when they start losing some of their funds.

Well, I guess there's nothing more than warning about inevitable losses we can do for newbies who want to start trading. Of course we can recommend learn more about trading, not to risk with all money, not to risk too much, etc, but they'll likely make their own mistakes anyway. If they'll remember our warnings they'll can easier draw conclusions from their experience and probable be more cautious if they'll get profit from at the beginning, but what can we do else?

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Beginner traders need a lot of experience in trading. profit and loss is a very common thing. because of this, many people suggest not using a lot of money, and using minimal money in trading. However, the purpose of trading is to make a profit, if they get an advantage in the lesson, then it can be enjoyed. just don't get caught up with those advantages, because they can use the advantages to learn even more, until they are ready to trade a sizable amount. Trading for beginners will not be guaranteed to make a profit, but getting profit is the goal of trading. this applies to newbies too.

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Quote from: andriarto on April 02, 2023, 11:51:14 PM

The initial profits obtained by novice traders will be dangerous if they feel arrogant, where they feel that it is easy to profit from trading, and think that trading is easy to do, so that they dream of stopping working, and retiring, if daily profits are like those obtained at the beginning of trading. this is what will actually make beginner traders miserable because the market is cruel if we can't understand what they want. and when it happens like that then the next trade will be chaotic and ultimately frustrating

Those who choose to become full-time traders must, of course, have enough capital to be able to make daily profits. of course, they are professionals, not a beginner. initial luck will not last. there is a lot for a beginner in trading to learn. it's not as easy as just depositing money and then will withdraw it with a bigger amount.
every trader must have control, otherwise of course it will be dangerous to become obsessed with continuous profits.

andriarto

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Quote from: SamReomo on April 02, 2023, 09:01:23 PM

Quote from: Bananington on March 29, 2023, 01:07:28 PM

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?

New traders should prioritize acquiring a comprehensive understanding of trading, rather than fixating solely on earning profits. Although earning profits in the beginning can instill confidence, it can also be misleading, leading the trader to believe they have mastered the art of trading. Therefore, it is imperative to keep a trading journal to evaluate successes and failures and learn from mistakes.

Trading involves both profits and losses, which are inevitable. It is better to experience losses early on and use them as learning opportunities rather than being exposed to quick profits, which can foster an inaccurate mindset about trading. New traders should take a gradual approach, avoiding investing their life savings, and should learn from educational resources and market updates.

The initial profits obtained by novice traders will be dangerous if they feel arrogant, where they feel that it is easy to profit from trading, and think that trading is easy to do, so that they dream of stopping working, and retiring, if daily profits are like those obtained at the beginning of trading. this is what will actually make beginner traders miserable because the market is cruel if we can't understand what they want. and when it happens like that then the next trade will be chaotic and ultimately frustrating

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Quote from: Bananington on March 29, 2023, 01:07:28 PM

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 recommend that new traders should first get a comprehensive understanding of trading rather than delving into the field without any proper research. I know that earning profits in the beginning can increase someone's confidence levels, but it can also be misleading the trader to believe that he/she has mastered the art of trading within short span of time.

Trading is a discipline that involves both profit and losses and this fact can't be neglected at all. It's always better to experience some losses in early days so one can use those experiences as a learning opportunities rather than getting greedy with those quick profits which can foster an inaccurate and fictional mindset about trading. New traders should learn trading step-by-step, and they should avoid investing their life savings into it, and I also recommend them to learn from the available educations resources and close watch the updates of the market.

Baoo

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Well, I don't advise newbies to start trading without knowing the basics of this field, that's too risky to be honest like this way you will literally lose what you have and get disappointed.
For me, I would prefer reading some usefull books like, the crypto millionaire handbook and swing trading. Plus, it is really essential in order to learn how to read cryptocurrency charts and technical analysis.

Furthermore, It would be better for beginners to start with a low amount ( less than $200 ) due to profit isn't guaranteed in the beginnings. It might take a while to learn the crypto trading field well
And in my opinion, you should divide your budget on BTC and ETH for long time profit and some altcoins (such as Tron, Cardano, Solana and EOSà) for short term profit.

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Quote from: Kelvinid on April 02, 2023, 05:38:01 PM

Quote from: Bananington on March 29, 2023, 01:07:28 PM

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

Earning a profit is really our main goal in trading but this is impossible if you trade without knowledge and skill, and newbies certainly don't have. They should have to take in mind that trading is not easy and it needs preparation. Well, learning at least the basics could help but can't guarantee that it was enough for them to become profitable. If they really wanted to help themselves and are able to achieve their goal, they must urge themselves to learn more and enhance their skills - that should be their first priority.

for sure, a lot of noobs have their misconception when they got into this market. they thought, they can easily get huge profits once they plunge into trading. but they will surely get the real picture when they start losing some of their funds.
experience will be your weapon in this journey. the more years you are into this activity, the more strategies you will learn and imo, you will be better equip and avoid big losses.

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Quote from: Bananington on March 29, 2023, 01:07:28 PM

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

Earning a profit is really our main goal in trading but this is impossible if you trade without knowledge and skill, and newbies certainly don't have. They should have to take in mind that trading is not easy and it needs preparation. Well, learning at least the basics could help but can't guarantee that it was enough for them to become profitable. If they really wanted to help themselves and are able to achieve their goal, they must urge themselves to learn more and enhance their skills - that should be their first priority.

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Quote from: Botnake on April 02, 2023, 04:54:43 PM

Quote from: Bananington on March 29, 2023, 01:07:28 PM

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?

It will only be misleading if he opt to believe that trading is all about wins and profits. But if he’s an open minded trader and he knows that trading has its fair share of losing and winning, then I don’t think he will be misled. At some point, a trader might start his trade a successful one and that is very possible since he might be preparing for long in trading. Or he can start with a loss knowing his experience is not enough. But whatever it is, I don’t think our first trading results will matter, because what should matter is how we can be more able to maximize our profits and lessen the risk of losing in trading.

All of us wont really be having no choice because if you do have that kind of mindset initially specially when you are just starting up, then for sure you would really be that having those kind of insights but once the
reality would slapped into your face then you would really be realizing that it isnt really that simple as it seems.You have just that experienced on profiting but those are just introductions.
On the time you would really be going through then you would be able to witness and experience the bittersweet reality of this market which you didnt expect on the first place.
This is why making yourself that versatile and open-minded would really be that crucial.

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Quote from: Bananington on March 29, 2023, 01:07:28 PM

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?

It will only be misleading if he opt to believe that trading is all about wins and profits. But if he’s an open minded trader and he knows that trading has its fair share of losing and winning, then I don’t think he will be misled. At some point, a trader might start his trade a successful one and that is very possible since he might be preparing for long in trading. Or he can start with a loss knowing his experience is not enough. But whatever it is, I don’t think our first trading results will matter, because what should matter is how we can be more able to maximize our profits and lessen the risk of losing in trading.

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Quote from: irhact on March 31, 2023, 04:00:52 AM

Quote from: Bananington on March 29, 2023, 01:07:28 PM

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?

How about this, a newbie starts trading and constantly get losses even when he knows he understood the market. What do you think such individual will most likely do, he'll quit and forget about the dreams he had of becoming a professional trader so life doesn't always work how we see it. It doesn't matter if you lose or win with your earliest traders.

What really matters is how consistent you'll be with perfecting your trading strategies so you excel on a long run. Early wins in trade can be misleading as well as early losses. Early win will make you too confident of yourself while early losses will make you lose confidence in yourself so don't let anyone define you.

Traders has set it’s goal to be come professional and profitable traders in the long run, so regardless if he is a winner or loser at his first trades, that won’t really matter as his focus is to make the most in trading and maximize his profits through making successful trades. If he can’t do that, maybe he’s not really meant to be a good trader, or his skills and strategies are not good enough to make him a successful trader.

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Quote from: martyns on April 01, 2023, 11:56:02 PM

Sometimes a trader can also make profit in his first trading session and also continue to make more profits ever after the first win.I even see it that when someone wins in the first trading session,it's a sign that trading will bring more profit than loses to the person,because it is always rare that one will win in his first trading session.It is a sign that good luck is about to be unfolded on the person.
I know quite well that trading experience comes from different loses,but one can also use another person to learn and therefore avoid the mistakes he is supposed to make in his first trade,and win rather than losing.Therefore,I am on the opinion that not all trading newbies that win on their first trading session will get difficulties as time goes on in trading,rather,it's a sign that he will be lucky on more future trading.

If they made their first profit in their first try, it can be a sign that they already learned but sometimes a newbie trader can also get lucky and made a profit even if they skip the learning part. This can be the one that is misleading because they will be tempted to try again even if most of their trades are not doing well anymore.

It might be possible to use another person to do trading for you but he is the ones that will learn and benefit more in the future, not you. Will you let that happen? And what if he decided to resign someday? What will happen to you? This is why it's still better to learn and trade on our own. We shouldn't be afraid of the mistakes because they can still be corrected and the losses can still turn into profits later on.

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Quote from: irhact on March 31, 2023, 04:00:52 AM

How about this, a newbie starts trading and constantly get losses even when he knows he understood the market. What do you think such individual will most likely do, he'll quit and forget about the dreams he had of becoming a professional trader so life doesn't always work how we see it. It doesn't matter if you lose or win with your earliest traders.

What really matters is how consistent you'll be with perfecting your trading strategies so you excel on a long run. Early wins in trade can be misleading as well as early losses. Early win will make you too confident of yourself while early losses will make you lose confidence in yourself so don't let anyone define you.

Therefore, a beginner should not trade with big money from the very beginning. He need to allocate a small amount and test it on a certain number of transactions. And repeat this for several strategies, and only after that analyze the results. Perhaps one strategy works better than another, and so on.

But if, after testing several strategies, there is no positive result, then this should make wonder if it is worth continuing to pursue. It may be necessary to refine the strategy and try again if there is a desire to become a successful trader, but you should not think that this is just a temporary setback if a beginner is constantly losing money, this should be taken seriously, because we are talking about our money.

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Quote from: martyns on April 01, 2023, 11:56:02 PM

Quote from: Sanitough on March 31, 2023, 05:48:47 PM

If a trader knows exactly the real scenario in trading, he will always think that trading is never easy and that he should exert more effort to learn trading and develop working strategies that will make him profitable when trading. If he profited on his first trade, that’s good but it’s rare to see it’s happening as most newbies are inclined to more losses than gains. And when they lose, it just means that they need more trading knowledge and experience as it might open new opportunities to make their trades profitable.

Sometimes a trader can also make profit in his first trading session and also continue to make more profits ever after the first win.I even see it that when someone wins in the first trading session,it's a sign that trading will bring more profit than loses to the person,because it is always rare that one will win in his first trading session.It is a sign that good luck is about to be unfolded on the person.
I know quite well that trading experience comes from different loses,but one can also use another person to learn and therefore avoid the mistakes he is supposed to make in his first trade,and win rather than losing.Therefore,I am on the opinion that not all trading newbies that win on their first trading session will get difficulties as time goes on in trading,rather,it's a sign that he will be lucky on more future trading.

Our main goal in trading is to make profit but it shouldn't be the focus of newbies. They should focus on exploring things about trading but there are lucky beginners who get to deal with the volatility of the market and were able to make a profit which is still a good thing. They only need the proper mindset and be prepared for possible losses as it is part of our trading journey. It is fine to make a profit in the beginning but we shouldn't be overconfident to disregard the risks and make our winnings as our motivation.

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Quote from: Sanitough on March 31, 2023, 05:48:47 PM

If a trader knows exactly the real scenario in trading, he will always think that trading is never easy and that he should exert more effort to learn trading and develop working strategies that will make him profitable when trading. If he profited on his first trade, that’s good but it’s rare to see it’s happening as most newbies are inclined to more losses than gains. And when they lose, it just means that they need more trading knowledge and experience as it might open new opportunities to make their trades profitable.

Sometimes a trader can also make profit in his first trading session and also continue to make more profits ever after the first win.I even see it that when someone wins in the first trading session,it's a sign that trading will bring more profit than loses to the person,because it is always rare that one will win in his first trading session.It is a sign that good luck is about to be unfolded on the person.
I know quite well that trading experience comes from different loses,but one can also use another person to learn and therefore avoid the mistakes he is supposed to make in his first trade,and win rather than losing.Therefore,I am on the opinion that not all trading newbies that win on their first trading session will get difficulties as time goes on in trading,rather,it's a sign that he will be lucky on more future trading.

Ziskinberg

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Quote from: Bananington on March 29, 2023, 01:07:28 PM

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?

Learning should be our first priority, gains can be easier to achieve once we already have the capacity to do that. But unfortunately, many people are here to trade thinking that they can make money after registration, tomorrow, and in the following days. It is actually what they believe because it was also the thing they heard from these influencers on social media and on the internet. As we can see, many have tried but many also quit due to their wrong expectations. Those who really have hearts and are willing to correct their mistakes will stay as we know that trading is not for everybody.

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