Topic: if you are a trader, how long it took for you to become profitable trader? - page 2. (Read 1586 times)

I challenge all profitable traders (who claim so I mean) to share live trading stats to paid members. All opened and active trades. Nobody did it. Not even one.

Like you I learned this in forex, but 10 years before you Same kinda people, selling success and stories of fake profit.

1 success story hides 100 fail stories.

As a trader you can be profitable in just a year,but it's all depends on a good mentorship. Mentorship helps you propell your steps and shorten your journey of struggling. Because a mentorship try to help you to avoid some mistakes them made .
Just a year and a quality information with a good mentorship you are good for a year

It's true, so many traders don't show their losses, they only show when they are in huge profit and also show off their cares luxurious lifestyle and all of those show off is to entice the learner to come and patronize them and buy their courses or pay for personal classes. Something happen around 2020 when I was learning forex trading and since then, I took a decision never to pay anyone to learn trading again. I have not paid anyone to learn anymore but so far, I have become better off without paying anyone and when am fully settled into the skill, I will always  tell people the bitter truth in trading and one of them is that, "As a beginner if you have not blown 💣💣 your account a few times, then you have not started." So, never start trading with a huge capital, go with a small amount first and see how you can scale that capital to a50x or 100x without blowing it up. It when you are trading with a real capital that's when you greed and emotions will be tested. 
Secondly, if you feel that you can easily become rich in trading and archive all the flashy things you ever dream of, then you might never get to archive it because good things don't come easily.

Its actually really scary that people see futures trading or rather any kind of trading as part of 'investment' so I am glad you saw the light.

You are right about the greed, so it is a lot more steps than just avoiding trading. But avoiding the old sources of that greed. I deleted my old Telegram, my old Twitter, my old emails. Just so I don't see again all the ads and spam and people showing off.

Everybody shows you their good trades, some bad ones. Very few admit if they got cooked.

Of course - it's greed that makes you fail to maintain discipline.
I'm sorry to hear you lost it all - but take it as a lesson because after all it will change your mindset in other periods. Many traders end up regretting their wrong and costly decisions - but sometimes that greed has given them huge profits because the market moved as they expected.

I have actually avoided futures trading for a long time and that was a decision I had to take for the sake of continuing my big investment plans. I definitely learned a lot from trading futures - but it's hard to avoid getting greedy when the market seems so optimistic. Everyone remembers how the price movement a while ago liquidated so many long positions - no one knew that the price would drop to $91K when the price had already hit ATH at $104K, but it happened.

Not only knowledge in strategy, the coins you want to trade, but it will be more comprehensive such as technical and fundamental analysis, also do not forget risk management we must pay attention to.
Trading is not that easy to do, and if we have been in this room for a long time we should all know that. But not easy does not mean it can't be done, it is still done with the note that we must master the trade itself thoroughly. We cannot forget a single aspect when trading.
And don't forget to always be in a stable emotion, because if not then emotions will make us unwise in making decisions and in the end we might gamble in trading.

That true, after having two successful trade, you will be feeling boastful of yourself and if one can not control that feeling and rest till the next day, you might lose. One of my metor would always say that, "never allow a winning day turn to a losing day because of greed. " Some traders could have experienced 2-3 successful trades but the last one can just mess the whole day up. I know someone, although have not met him in person but according to what he said, he takes three trade every day on different pairs.

Trading has metrics, factors, and patterns to seek out and understand.
Gambling - it's just gambling your luck away.

The best thing that happened to trading is prop firm trading...basically what this is about is that your trading skill will be put to the test and once you pass, you are refunded your test fee and they provide the capital to you... but unfortunately to survive here doesn't need you trading everyday,  you need a peace of mind and pretty much just need to unwind...otherwise trading is sustainable!

Very much doable,  but before getting here where you dictate  how much you want to get paid...you need to first invest in yourself to have the skill then the money follows later on...

In trading, you really have to have a strategy and also have a deep enough knowledge, both about market conditions and about the coins that we often see in the market. Because trading is very different from gambling, so what you said is also true that every trader must have a foundation and stick to the right strategy so as not to go down the wrong path which can result in losses.

A person should know when to stop.
The goals should be put straight - otherwise, you are in high, highhhh risk of being on the bad side of the stories on the market.

Yeah, greed could make that possible, when you are on a roll and the money is raking in, you feel like you are unstoppable and you do that, not the greatest feeling in the world but definitely not a bad period neither, should be considered as a good thing to chase your momentum sometimes because that's how people get wildly rich, but sometimes it turns out to be not great.

I would say, as long as you only lost the profits and nothing from your capital, that loss wasn't that terrible, if you lost something bigger then yeah that would be bad, but if you lost only the profits you made from the earlier two trades, then I would say you are still far ahead of many people in the trading world and shouldn't be upset about this one.

On the time or moment that we do able to make good profitable trades in a row then we will really be having that kind of boost of confidence that we can be still able to do further on that particular day. Instead on trying out to stop and call it a day,then you have decided to make more. This is what we do called overtrade on which this is really that bad on any aspect because not all the time or moment that we will really be able to make profitable trades.
Well, this is something that a typical situation that do happen on an individual because we are just humans on which there are really those times or moments that we do become greedy and cant stop ourselves to make some good trades even more. At the time that you have liquidated your position just because of being that too desperate or hopeful for more good trades then this is the time that you do make out some learnings.
Experience would really be the best teacher on any case on which you do learn up accordingly basing up into the things that you do encounter along the way.
As for the duration on how long you will really be that making yourself a profitable trader then it will surely vary, there would really be different factors that need up to consider specially when dealing up with trading on which there are people who are fast learners and able to understand quick and there are those slow ones and cant easily be able to make out adjustments on which it slows them down on learning up on a fast pace manner but doesnt matter as long you are on the right path then you will be able to achieve such target.

Hmm, as a trader I would say in my case it took just a few days haha, as my journey started in an early bull rally of the last cycle and it cost me a lot as well, some important lessons that I didn't know cost me heavy in a bearish market.

So in my view, it really depends if you take an entry in the early Berish timeline haha it can be worse to predict the timeline for being profitable, and if you enter a bull market and you are lucky enough you can be profitable ina couple of hours to days but it's going to be temporary and you will learn decent lessons in near future like me in sense of market punishment haha.

Best of LUCK.

Actually, this morning, I did the opposite of what I talked about and it cost me to have my account liquidated. I took 2 successful trafe already which gave a return of not less than +50% in those two trades, I feel I saw a good entry position and I took the third trade and that was how I lost it all. Meanwhile, I already said to my self that I was going to take just two trade. Didn't know what pushed me, greed perhaps. I have learned a hard lesson tho.

But in most cases - many of those traders tend to be undisciplined with their own rules especially when the market tends to give them great opportunities to gain more profits. Discipline with your own rules is important - of course it can keep you from being greedy, but sometimes you will be tempted to adjust your strategy when the market gives you a big opportunity.

Trading for 1,2,3 or 4 times a week or month depending on the plan and time of each trader. I don't usually trade that often during the week - for me it takes too much time even though there is potential profit that I can make. Once a week especially when there is the right momentum for me is much better than having to trade every day or as often as possible with the same profit.

Yeah, some traders finds it more conducive to trade just maybe twice or thrice a week, which what ever profit they make  with those time period, they would be okey with it and even if they experience losses, they will try again next time. Being successful in training require the trader to be principled with every trading strategy they are using and also respecting their own rules of trading. For example, if you say you are going to take 2 trades in a day, don't exceed two, if you said you will take profit at +10% for the two trades, don't exceed it. That's being principled and obeying your own rules for trading.

Yep. If traders don't want to take much stress, 2-3 times for trading in a week is enough. You're right, there are many traders who get losses as well. It is not as easy as we think to take profits. Day trades or scalpers must face the challenge of the change on crypto market trends. This is sometimes to be the factor that the prices drop suddenly and it is quite difficult to avoid losses.

Crypto market remains the same. It is crypto coin prices which become more volatile. 
Don't only hold!! You need to monitor the price change of your coins. If you are investing in crypto coins, you must have the target for taking profits (exit plan). You should learn the price change constantly, don't miss the chance to sell at the peak....

This is not difficult and there are many trading models that can easily do this.

it always depends on your character, how disciplined you are, stick to your strategy and don't start gambling, otherwise you can go straight to the casino