Topic: if you are a trader, how long it took for you to become profitable trader? - page 5. (Read 1586 times)

I do agree.
Many factors play into becoming successful, and no combination of them would bring instant success in a month or two.
Only by using them in practice and applying what was learned, a person can become someone worth success.

There is no fixed duration to become a profitable trader, it all depend on individual and the information he is privileged to come across. Some individuals learn very fast and are able to put in the much needed discipline and hardwork needed for trading success and they achieve their target earlier than those who may be willing to learn and grow but unable to put in the work.

In addition, the quality of information play a vital role in trading success. If you are not privileged to get a working information, you might end up working so hard I the wrong direction. But on the average, a serious person who have the right information should become a profitable trader within 2 to 5 years.

Skilful trader is somehow myth because we do not see all the time. By data, 70% of all traders make a loss, not all of them lose the same amount of money of course, some lose millions while some lose a few bucks, but in theory when you check accounts, 70% of traders are losing money. That is not to say 30% of them make a lot of profit, while some of them do make millions, there are some that make a lot less, just because they are in profit, doesn't mean they are rich.

If you made $10 in profit that means you are not really looking at something wrong, those people are still in that 30%, because they made a profit and because of that they are in the winners circle. But in that 30% circle, we have people who made ten bucks, and we have people who made ten million dollars, they are not the same. So all in all, we can say that only 10% of the traders make serious money, rest are either losing money or not making a lot, not enough to matter at least, hence trading isn't easy, it's a very tough thing to do.

That's correct when you said if someone lose money someone gains, But this is where you get it wrong mate!, it doesn't mean the gains are widely distributed that everyone has to profit at same time, the money enters in the pockets of few traders who understood what they are doing in the market,  especially the banks ,the hedge funds, institutions and market makers, they're the one that most of these money ends up in their bag, now think about this, out of many traders you know, how many is actually profitable?

When about 95% of traders lose money,  how many traders are then profitable?

You think there's no data? brokers has data or records of their clients and monitors their profitability.

Yes, that is possible but you must check on yourself if you have skill to analyze the market or you need to learn trading first. Makes a profit for $2k or $3k is not easy and not many pro trader can do that. Without having a good skill, you will not be able to make that profit.

I think you can starts to make a profit from small amount and try to increase the profit by analyze more using your skill. If you have skill, you will have more strategies that you can use based on the current situation. Besides that if you have skill, you can trading for a long term which can be profitable for you.

But again, you needs to improve you skill from time to time because the crypto market will always moves. Without learning constantly, you will not have a chance to follow the market. That can makes you difficult to make a profit.

That’s exactly why majority of these new traders end up quitting in the long run. They think trading consistently will make them more inclined to profits, but reality hits that those who often trade the most lost the biggest sum of money, and those who only find the perfect timing to trade and trade seldomly are those who end up making the most of their profits.

That only proves that trading is not based on how consistent you are, but it’s more likely on how you learn to analyze the market well and respond to every opportunity you think that will lead you to gain substantial profits.

How did you find that percentage, is it the result of research or is it a random percentage?
There are many traders who have succeeded in making a profit in their trading sessions, but it is difficult to find the exact percentage considering there is no data to support it. I think the comparison between traders who make a profit vs traders who lose doesn't have much of a gap, the percentages can be very close because when others lose, there are those who gain.

I'm not talking about random traders who trade something without analysis, I prefer to call them gamblers instead of traders. Of course trading must be supported by analysis and at the same time traders must also have the knowledge and experience to determine the best position, so this is not like throwing dice on a board.

You are right, But the issue is that only 5% out 100% are profitable,  and being a trader comes with a lot mental stress, especially when you're not being profitable, whereas for holders you don't need to be warried about the market volatility (noise) and liquidation that trader face in the market, if you can find a way to be among 5% profitable traders,  you are way gonna make more profit than a holder that for over a period of years.

A skillful traders make more money than most hodlers, having a high profit return can make you to see some levels of profits that a hodler will need many years before they can realize the same profit. When you can win almost all your traders and you're using a big capital but not too big that you can't handle losing it. When you use that capital and continue to be victorious in your trade, you can never choose hodling over trading because you're being victorious and making money. Both method have their different qualities and their benefits hence you have to know which one your interest is in before you choose but be informed that trading and hodling can give you profits too depending on your skills for trading and patience for hodling. You're the one to determine which one will work for you because you have the power to make the choice of which of them will be the right choice for you.

We cannot set any strategy to earn a certain amount of money. But if one acquires good trading knowledge and skill then it is possible to earn money from trading but it is not guaranteed. Trading business is definitely riskier than any other job. If one cannot acquire good knowledge or skills then one cannot achieve anything good in trading.

I like trading but I tend to hold more when it comes to being profitable. A holder can definitely be profitable if he invests in any good asset under any circumstances. I have researched several trades where holding gave me higher returns than trading. But those who have acquired the skills of a professional trader will definitely get some cash money from trading.

all trades are for profit. no one wants a loss, although trading cannot avoid losses in the process.
all traders understand their risks. it is certainly not easy in the process of learning to trade until you get a profit that can be managed well. the risk of loss is always there, but those who are more experienced can minimize the risk. there will be no trade that is always profitable, but some traders will choose a little loss rather than losing everything.

each trader has their own understanding. some quickly understand trading. but some take quite a long time in the process. Even after several losses, not a few traders make the same mistakes.

And this knowledge and understanding isnt something that you could really be able to get in a short period of time on which means that you will really be that still experiencing that tons of trials and errors before you could really be able to achieve out such condition or situation on which you will really be that able to adjust accordingly. It is really just that wrong that you will really be making out some conclusions or making up some targets that you will be abel to know on how to trade on a specific date or time on which it isnt realyl right on having this kind of approach. You are just basically putting up  yourself on a condition or situation on which you will really be able to rush things up because you do get bored on not to be able to make profits. It is really that very common for most newbie traders on which they do really love on fast tracking on everything.

As a trader  then this wont really be that something a journey or career that you could really be able to get a hold of in a short time period or something that do talks on about on learning on everything on a short span of time. You will really be that spending tons of times and money for you to improve yourself when it comes into this aspect because if you dont really be mindful about into the actions that you are making
then you are just basically having no plan or trading path of learning on which this will really be that resulting into those loses. Set some plans on how to learn up and make it sure that in every experiences that you do able to make will really be put up into your mind so that in next time then you do know on what you should gonna do next.

It's all about risks, how you handle them, and the goals you put in front of yourselves.
You either stick to the plan and don't succumb to greed or emotions, or you think it's all a cabal with the dice instead of charts.
It's everybody's choice.

I do think that you say the truth - many can't bear the thought of being in a loss for 2-3 days straight, but it's possible - moreover, it's how you take these losses in perspective and do you learn from these.
If you do - you are going to climb up and try again, with the funds you are willing to spend to learn.

Everybody can try, but only a fracture from these would become "traders" in a definitive sense.
Some would just choose some other road along the way, the space is big, after all.
 
I do agree.

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.