Early Profit can be misleading. - page 7.

Russlenat

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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?

This will only be possible if beginner traders are not really exposed to what real life trading is all about. Trading is actually losing and profiting, but in case for newbies, they are expected to lose more than to gain profits. So if a newbie is making a consistent profits, he must be lucky enough but that would not mean that he’s bound to make profits all the time. Trading is never easy, the reason why even professional traders still lose from trading considering they have been trading for years, so how much more for newbies who have less knowledge and experience when it comes to trading.

Quidat

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Quote from: gunhell16 on March 31, 2023, 07:50:12 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?

Most of the newbies who enter the crypto space lack knowledge not only of crypto but also of crypto trading which should not be the habit of newcomers.

Need to know, study this thing first. It's the same even with novice businessmen, you can't immediately jump into a battle without even training and don't know how to fight. This is NOT the case here in the crypto business.

Sooner or later, you would be able to realize this on the time you had stepped your foot into the battle field.You might be able to make profits at first but it wont really be easy on the second time.
This is why it is really just that normal that you would really be needing to make up some research first and then continue to study and apply on what you do learn along the way specially
you do gain from actual experience.There's no way that you could really be able to make yourself do learn in one go.It would be a continous learning which is something
that needs up time and understanding on how things works.

gunhell16

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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?

Most of the newbies who enter the crypto space lack knowledge not only of crypto but also of crypto trading which should not be the habit of newcomers.

Need to know, study this thing first. It's the same even with novice businessmen, you can't immediately jump into a battle without even training and don't know how to fight. This is NOT the case here in the crypto business.

Rigon

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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?

As the saying goes, from where you won, from where you lost. It is always good to be defeated in the first phase of life. When one is defeated in the first step he can achieve good things in future. One should not be successful at the beginning of life then he will find life easy. If a newbie trades with a small amount of money at first on the trading platform, he can learn slowly even if he loses at first. A beginner will become an experienced trader only when he experiences profit and loss.

jossiel

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Those newbies that make their first trades profitable are very well encouraged to continue and they're likely to stay because of how they've experienced profit at the first stage.

While the others have experienced terrible results, they're at an upperhand and will think that not so many newbies are getting their first trades as a win.

Whichever they think is right, whether the first tries are losses or wins, it's a matter of how eager they are to keep going in trading.

Mr.right85

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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.

Well, it is what you feel and not really what should be. I suppose that's what we are doing on the forum, making inferences based on what we feel should be.

Either way, I know everyone comes to trade with the mindset of profit making and there isn't anything bad about that. Should you want loses, you won't wouldn't care about making doing any form of analysis. Just get in, in with the loses, have your experience on a lose and get out.

Since your about profit, you get yo do your analysis and take the outcome as it hits you and you learn from them.

Hamphser

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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.

Make yourself that been aware and having that realistic approach towards trading and you would really be realizing that it wont really be that something easy and attainable by everyone else.This would really be a

long pile of trial and error before you could able to find yourself be able to sustain.No one starts on being sustainable on their first try.Yes, you might be able to make some profits initially but it wont really be something that would really be sustaining.If you are that kind of person who do have that kind of impulsive emotion then for sure you would definitely be having that kind of approach where you would really
be believing or having in your mind that you will really be that able to make it without any problems which is really very wrong.

Sanitough

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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.

borovichok

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Quote from: MoonOfLife on March 31, 2023, 11:32:18 AM

I agree with OP's point, although profit is what we want when entering the market, being profitable too soon will do more harm than good to the investor in the long run. Those who make early profits will be egotistical and think that they are talented and can easily beat the market, they will sleep in victory. They don't know that what they have is luck, and luck will not be with them forever, the market will quickly take all back, and it will shock them.

Profits is every trader's priority and that's the major factor that boost the confidence of the traders in the market. I've been in that same position when I was a newbie in the space, however I was urged by my mentor to take things easy because everything is possible in the market. One can be making $200 currently, and the next minute, hugh loss will set in and emotions will be terrible at that moment. Luck is a special key in the market, although not all traders are opprtuned to be granted that, its most likely to be benefited by beginners.

jostorres

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Quote from: ashmodeus on March 30, 2023, 12:12:56 PM

the real problem about trading is how they thinking about trading it self, it's not a gambling, some good traders who i meet a year ago say trading is a precision , its not about profit u got earlier and go back trade and feel u can do it again, its about the right time to in and out, how to get that, training , TA first then FA follow. He told me trading no need a luck , just a precision, well i talk like a pro but i still noob at it Grin

Timing the market is one of the most difficult things to do, and even professional traders can mistime a market during some of their trades. One should simply keep two things in their mind when trading, first is that there is no actual bottom when they are buying, and there is no top price when they are willing to sell it back. So if you are getting a good price, just grab it, and wait for it to go up, and don't just keep waiting, but sell them when you feel like it.

If you follow this, you will probably be okay and will be out of many risks or even miss any opportunities by waiting for the perfect time. You can't time the market accurately unless you are too lucky.

MoonOfLife

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I agree with OP's point, although profit is what we want when entering the market, being profitable too soon will do more harm than good to the investor in the long run. Those who make early profits will be egotistical and think that they are talented and can easily beat the market, they will sleep in victory. They don't know that what they have is luck, and luck will not be with them forever, the market will quickly take all back, and it will shock them.

Hyphen(-)

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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.

Most times, profit gives new investors more courage to learn and invest more.

Quote

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?

If a new trader begins with losses, they may become discouraged along the way because emotion will play a role because it is not easy to lose some of the money they invest at the start of their trading career; therefore, I believe that starting with some profits will encourage them to learn quickly as well as understand the risk involved when they begin losing along the way.

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Quote from: Strongkored on March 31, 2023, 05:46:06 AM

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

What do you think, let us discuss?

Part of your statement is correct and I agree that a newbie trader should first focus on knowledge and improve trading skills before focusing and targeting a profit, it's just that building yourself with the right knowledge of trading but not making profits for a while, can break your patience themselves from these traders, because they lose money even though the activity carried out is the goal of making money, it's definitely not fun, so if in a while traders don't get profits even though they already have a lot of trading knowledge, they need to consider it because trading might not be suitable for him or still something went wrong in the trade.

If a newbie trader starts on a winning note and continues to win, it will become a habit of him to always make profits in his trade and I think there is nothing wrong with that.
Every newbie must not lose all they have before they begin to make profits. There is when you will lose to a very extent and you become addicted to losing. So it is better they make profits so that they become addicted to profit-making. And on very bad day, they will loss they will understand that trading is all about making profits and making losses.

AnonBitCoiner

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Most of the crypto traders fails to get money because they don't want to get knowledge but they desires to make money quickly. Sometimes a person make investment or do trading but at start he face failure so because of this failure they leave behind it instead of considering this failure as a way of getting experience.

A person can get benefit from start but he should have complete knowledge about trading before starting it otherwise little knowledge can loss his money. It is true that trading is a way of getting money but a person should also realize that there is also a risk of losing money so keeping these both points in minds is necessary.

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Quote from: Strongkored on March 31, 2023, 05:46:06 AM

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

What do you think, let us discuss?

Part of your statement is correct and I agree that a newbie trader should first focus on knowledge and improve trading skills before focusing and targeting a profit, it's just that building yourself with the right knowledge of trading but not making profits for a while, can break your patience themselves from these traders, because they lose money even though the activity carried out is the goal of making money, it's definitely not fun, so if in a while traders don't get profits even though they already have a lot of trading knowledge, they need to consider it because trading might not be suitable for him or still something went wrong in the trade.

No one wants to lose in investing and trading, but as a newbie, it is important to realize that trading is not for the masses, not everyone will survive and profit from it. For a newbie, I think that profit should not be seen as the main goal but knowledge and experience gained. It should also be determined that losses are inevitable, so when starting, beginners should only use the minimum amount of capital to limit losses. Failure is the mother of success, if you want to succeed, you must accept failure first.

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

What do you think, let us discuss?

Part of your statement is correct and I agree that a newbie trader should first focus on knowledge and improve trading skills before focusing and targeting a profit, it's just that building yourself with the right knowledge of trading but not making profits for a while, can break your patience themselves from these traders, because they lose money even though the activity carried out is the goal of making money, it's definitely not fun, so if in a while traders don't get profits even though they already have a lot of trading knowledge, they need to consider it because trading might not be suitable for him or still something went wrong in the trade.

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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.

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So anyway, I applied as a merit source :)

Newbies traders rarely make profits, if they are profiting they are not newbies.

I suggest dummy trading for newbies before jumping into real action. Maintaining a chart of buy and sell prices and evaluating their actions later on can help them keep track of their habits and mistakes.

It is not easy for newbies and is some what a full time job.

In the meantime they must also concentrate on their knowledge around bitcoin, how to keep it safe and the wallets they use.

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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 agree with you. In trading we only run after profit. Newbies always hope for profit and never consider about market.The most important thing for trading is knowledge of trading. But many of the newbies don't have any knowledge about this.They never feel the need to analyze. They think of trading as a gamble, so small profits make them very anxious.But later it is seen that the losses are more among the newcomers. Then it is not possible to recover their losses.In old trades the probability of loss is very low, they know how to recover losses.They have enough knowledge and analysis of the market, so they are more likely to make a profit.

Cling18

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Quote from: milewilda on March 30, 2023, 05:12:14 PM

Quote from: Finestream on March 30, 2023, 04:59:36 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’s rare to see newbie traders profiting in the market as most of them are into losing. Though beginner’s luck might exist, but majority of newbies still lose at first in trading and when they eventually become pro traders with enough experiences in trading, that’s the time they start being profitable and successful in their trades. However, if these newbies start making profitable trades than lose trades, maybe there are high chances that they will get to know and understand trading the wrong way. Trading should be learn the hard way, that’s why it’s never easy to trade and be successful when you trade without enough knowledge and experiences in it.

You are right but we know that this is somewhat could be called also on beginners luck just like when you do gamble.Yes, its true that it isnt similar but there are really indeed trade calls which we do able to get that profit even when we are just starting which does simply give out that kind of emotion and boost up that it would really be that just simple and this is where OP does particularly meant, but in reality we do know
on how these thing goes and how it would be ending up considering that we are just a newbie then we are really that prone to errors and mistakes.It would really be giving out that kind of impression
that it might be that simple but on the time you would really be dealing off things further then you would be making out realizations.

It depends on our mindset in the first place. Some beginners make a profit right from the start of their trading journey and that could be because they have fully understood and adapted the basics of trading while some newbies could make profit and could think that the same thing will often happen and that trading is as easy as ABC. Our actual trading experience could teach us a lot of lessons and it is important for us to be knowledgeable about managing risks. We've all become newbies before so we know how it feels to fail and make a profit in the beginning and how it helped our journeys.

Topic: Early Profit can be misleading. - page 7. (Read 969 times)