Topic: if you are a trader, how long it took for you to become profitable trader? - page 3. (Read 1864 times)

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

The market right now is pretty volatile - lots of opportunities.
If you bought coins beforehand - only hold, that would be the stable option right there.
If not - try your expertise, analysis, and luck - and put some work into motion.

I think most of the traders prefer to hold for long term rather than trading as it is possible to get better returns from here. Must have proper knowledge about trading before trading. In trading there are always huge expectations and losses take time to recover. Here is a strategy that will work in short term and day trading if you know it. It is essential to first understand what trend following means and understand the basics of why and how it works. A correct trend in trading is to follow a sustained directional price of the particular security traded.

When it comes into those huge gains on which a certain trader would really be able to do so and showing it publicly on social media then just like what you've said that there's no way that we can be able to tell whether its just simply flexing out or they do really that totally trying to hook up people for them to be followed and will be asking for some sub fees but actually if you do really think up sensibly on why the heck they will really be trying out to have those kind of source when they could actually be able to do it on the moment that they will really be making some profitable trades? Sometimes it isnt really that so hard to make up some questions basing up on the reality that you are really that able to see around. As for being a trader then it will really be just that depending or basing up on how good your are on learning up things. I do agree on to those things above that learning duration will be basing up on how well you do able to learn up everything along the way on which we know that not all people will really be having that good memory when it comes on memorizing or remembering things  and thats why on the time or moment that they will really be able to encounter on the same scenario on their trading sessions then there are those traders who do really knows on what are the things that they should gonna do since they have experienced it earlier, and there is that still continue to make mistakes just because he had just simply forgotten.