Topic: if you are a trader, how long it took for you to become profitable trader? - page 3. (Read 973 times)

Indeed, the amount of profit one can get from trading depends on one's knowledge and understanding of the market despite all the losses. Profits might not be constant, but if you are consistent with what you do and do it with as much efficiency as possible from your end, you will end up being profitable in the long run. New traders shouldn't worry about short-term failures because they tend to fade over time when they start understanding things from a more apparent point of view and act accordingly.

Have you ever wondered why many new traders fail and exit the market? It's because they are too emotional. It's important to have a lot of patience as a trader because you can face any sort of situation in an unstable and volatile financial market, so you should be ready for everything so that you don't hurt yourself with high expectations all the time.

I think the OP should also know that there is a certain category of people who, no matter how well they have studied the theoretical part of trading, will never become a good trader anyway. This is exactly the same as not everyone can become a good doctor.

There’s actually big profits in trading. However, for you to gain consistency and make you profitable in every trade you take, it requires knowledge and skills, and most especially positive attitudes that will make you suitable in trading. And with risk tolerance, you know you will be a successful trader as long as you are also determine to reach your trading goals regardless if there are some losses along the process.

I don’t understand what you mean by trading is not profitable in the long term. If trading is not profitable in the long term, then most traders will have given up already. I know some people who have been trading for years, and they have been making money from trading, some of them even depend on trading for survival. I know there are some times when you won’t really be making money from trading, but there are some times when things will change around, so I won’t say trading is not profitable in the long term.

There are some traders that depend on trading alone, and they are leaving a decent lifestyle just as you said. You said you are looking for big money, if people like you decide to go into trading, you might end up losing almost all you have because you are desperate and looking for a big amount, you don’t want to grow gradually.
 
If you want to make 2k or 3k, it’s really possible, but depending on the amount that you are trading with, you can’t be trading with a little amount, and you will be expecting that amount of money.

It took me years to get where I am now. Just because the markets are open all the time, you don’t have to make a trade every day. That’s the biggest mistake most newbies are making. They think if they make more trades they will win more money. That’s not true. Make 3 trades a year and make them successfully and that’s you’ll ever need. The more trades you make the more mistakes you’ll make because you betting against the big investors that are playing with hundreds of millions of dollars. You simply can’t win against them if you trade every day. That kind of discipline is very hard to acquire. I lost lots of money before I figured out the right way.

You will never be able to get consistent income in trading, and the best thing is that you can get any amount of profit without having to determine the amount of profit you determine because the market is not easy to predict sometimes you will get small, large or even no profit at all and can also experience losses. And what you have to remember is that trading contains high risks, and there is no guarantee that you will always get profit. So you do have to have enough knowledge and experience and also find a way that suits you and you have the ability to do it, control it and also master it, do it very carefully and only use the amount of money you are ready to lose.

Despite trading being difficult to make money from, once someone has proper knowledge and a reasonable amount of money to trade with, making $2k to $3k in trading every month should not be too hard. However, when someone lacks knowledge and trades with a small amount of money, making that kind of profit every month will definitely be challenging. Know that the amount of money also determines the profit you can make.

My advice is that if someone doesn’t have good knowledge about trading, they should not try to trade with a large amount of money. One more thing about trading: targeting a specific profit amount can sometimes lead to losses, as someone might be too eager to reach that profit target they set for themselves. It’s better to trade and continue making profits according to how the market is moving.

Trading is all about how well you manage your risks and not really about chasing big gains. If you manage your risks well, you can make 2-3k or even more a month. Yea, some traders have achieved this. The reason trading long term may not seem too profitable for some traders is because they will have to deal with the market fluctuations and their emotions too. The way they handle these two will determine how profitable they will be.

Earning 2k to 3k monthly as a trader is doable but starting to trade with this get-rich-quick tactics may be tricky on you. I will recommend that you focus on strategies that will help you manage your risks and earn consistent moderate percentage profits depending on the capital you are investing in your trade. Above all, you need to be patient with yourself, educate yourself more and gain more experience.

Some people sometimes do not feel satisfied with the profits they get, that might be one of the reasons op can say something like that. While for me, whether it's short-term trading, long-term or investment, everything will be profitable as long as we have very good knowledge and skills. Well, actually this will lead to greed in the end, because someone who is not satisfied because they have to wait for a long time will switch to a short period of time. And the problem is when they are not fully prepared for all the risks that exist when trading in a short time. A person's abilities will vary, they may be reliable when trading for a long time, but they will have difficulty when trading in the short term. We also have to measure what our abilities are like and adjust them.

There is no guarantee of profit in trading. It totally depends on you and your strategy. Both long-term and short-term trades are profitable and unprofitable. Now whether you gain or lose depends on your skill. If you are a skilled trader and your chosen strategy is suitable for you then your chances of profit are high. Every trader has his own strategy or his own style of trading. Now, depending on how skilled you are and how well your trading style suits you, whether trading is profitable or unprofitable for you. Some people profit from short term trades while others profit from long term trades. You can set the trade time as you wish.

Its not something that would really be attainable on a certain individual on the time or moment that he/she considers on doing trading on which we know that when it comes into this aspect then it will really be just that too hard to make those kind of fixed targets specially if we do speak about 2k or 3k which it isnt really that small for most people. One of factors that could also help is on having on how big is your trading capital and the risks management you do set on each trade. If you do set out those small positions then dont expect that you could be able to make something big even if the price of the coin hits up a good % increase,
but if you are dealing with some meme coins or futures trading then you can be able to do it but of course its not something a risks that everyone or anyone could handle.

Duration on how long you would become that a good trader or profitable one, then its something that cant really be answered. Why? Every person is different in terms of knowledge and intellect. Just like on what others been saying above that there are ones who are really that good when it comes to learning up things but there are ones who are slow too. Therefore, duration or target time isnt possible into each individual.
One of the solid indications that you do consider yourself as a good trader on which on the moment or time that you do find yourself already that becoming profitable and could sustain despite of the loses you do encounter.

I don't know how you can conclude something like this, but you are quite wrong in that. Both short-term and long-term trading have the potential to be profitable for traders depending on their strategy and how they can outsmart their trades. There are traders who profit in the long term, and there are also those who profit in the short term, because each trader has their own style to be able to trade in the market, some are more suitable in the short term but some are suitable in the long term. So it all comes back to you how you can find a trading style that suits you - you have to be able to explore and trade in the market until you are experienced and can find a profitable trading strategy for yourself.

2K and 3K monthly profit is a lot of money for many people but it depends on your budget. If you have 300K in your bank account, you can very easily make 3K per month, it's only 1% profit and it's very easy to earn that profit at any time of the month but if you want to generate 2K-3K monthly profit with 30K USD, that will not be easy because that's monthly 10%, which is not achievable without taking serious risks.
I suggest you to think about the outcome of long-term holding and do not stick with short-term trading plans. You can only become profitable if you hold your coins for months or years but be very careful with your decision because if you choose a wrong coin, that dies, then long-term holding is only going to make your loss worse.

It’s better if we use a percentage of the possible profit we can make in a month -- easier to understand than a set amount, especially since we don’t all have the same trading capital. I also doubt there are traders consistently making monthly profits, as trading is similar to gambling; you have good and bad runs. But if you’re a profitable trader overall, you’ll see net profit in the long run. The time it takes to become profitable varies per trader, but it usually requires a lot of trial and error, adjustments, and perfecting the right formula.

And for your mind, $2k or $3k is just small money that a beginner in trading will make in a month. Trading is very risky, and for you to earn up to this amount, you need to take a lot of risk before you can be able to make such an amount of money in trading. However, you can’t ask for a strategy that will give you this amount because no one will assure you that you will earn such an amount of money. As a trader, you shouldn’t ask for a strategy that will help you; you are the one to find out by yourself by studying some strategy and then identify the one that will help you. 

In truth, the majority of long-term investors actually benefit more from trading in terms of profit. But it's not easy to become profitable traders; you really need to learn trading.
Because of our knowledge, our profit will be based on trading so that we can be profitable as traders.

But anyway, at the end of the day, it's still up to us what we choose, whether it's to be a day trader or a long-term trader. We can only be there with these two.

That kind of profit is quite big every month so it is definitely possible to maintain a decent lifestyle if there are traders who are able to get it because it is also not impossible to get although it is not easy because every trader also has to hope for market conditions to continue to improve although sometimes they also have to hope for corrections in order to be able to buy again at a lower price. And if you want to feel that big profit every month, of course you also have to have a little bit bigger capital and try trading in the Binance futures section with a crossline that you can adjust yourself because the risk level is also quite high.

Over time, I almost completely switched to long-term trading and for me this is the easiest way that requires little of my time, and almost eliminates losses. The most difficult for me has always been scalping, I started with it and probably for me it remained unprofitable, later I switched to medium-term trading then I began to make a profit. Probably it took me a little more than a year to begin to understand something in trading, a little later the profit came, but for me this is not my main activity, I rather refer long-term transactions to investments.

But why cryptocurrency trading is different is that you have a higher chance of predicting the market correctly when you know what you are doing but in gambling it all guessing and no guarantee of anything. Studying the market and using your years of experience can help you to make profits when trading but you can not put a fixed timeframe of when you can start to make profits. You can start trading today and begin to make profits as far you have learnt how to trade previously and have also done some practice, making you to have some experience about the market. Also when you practice trading in the right way by not using too big of a capital that can make you lose your way when you lose it, you would not have difficulty being profitable.

Capital, skills and the projects that you are getting involved with will determine how much you can profit from this activity. Also, acquiring those skills is not an overnight task as you can learn those as you go thru your trading journey. You can pick a thing or two while doing the trade as each coin is unique and has their own market performance.


I believe, you already acquired some tricks not to lose much in this market. Also, time and resources are important if you want to sustain the profitability of this activity. Don't think that you will get rich quick on this. It would take time to acquire the positive aspect of this market. Just think of countless alts alone will give you the notion that there's more than meet the eyes in this market.