Topic: It is possible to make a profit by trading - page 8. (Read 937 times)

Yes we are advised to chat for a short period of time. Because it is possible to make a lot of profit in the short term. I found out about this through this post.

It is possible to earn from trading just as it is also possible to have losses from it. That's what you've experienced, right? You said you are a long time trader. I guess there is no trader who is so good he/she did not ever experience a loss. Especially in crypto where volatility is high, it is more or less common for the prices to have sudden dips, huge ones even. So if one cannot handle such movements in the market, one should better be a hodler.

Of course you can't always make profit through trading. But if you are good, in the long run you will be able to make profit. Since you faced a huge loss, I hope you learned where you went wrong. You should analyze all your past trades so that you don't repeat the same mistake. Analyzing trades will also help you make better profit in the future. Not sure what you meant by "dollars have not been set". But anyway, keep trading, keep learning and you will end up with good profit.

It is possible but it's not applicable for everyone. As you've said, you're an experienced trader and you're not making a lot from it. The same in my experience but that won't stop me from investing and for being an occasional trader. We just have to find the right strategy that suits us.
If you give up and you think that you're not learning from those losses, you better hold and accumulate and do the dollar cost averaging and be an investor.

It is possible to make a profit by trading, but it's much more difficult than what most people first think.

First of all, you need to be able to know exactly when to buy, that is, identify the lowest local point in the price graph in real time. That's practically impossible.

Then, you need to know exactly when to sell, that is, identify the highest local point in the price graph in real time. That's also practically impossible.

There is a consideration here as well, you don't know if the buying or selling point will arrive in a day, month, year, or never.

Let's say you bought low and sold high after carefully checking the market, reading news, running bots, whatever reason.

Then you need to consider your costs, that is the fees you need to pay to the exchanges for putting money there, buying, selling, and then withdrawing money back.

Another cost is capital gains tax. Depending on your country this can be a lot, from zero up to almost half of your gains.

So at the end of the day, you might be able to get some money by trading, but you need to keep paying attention to it all day almost like a job, and it's not even guaranteed to get you money.

Yes, you will hear from the few cases that got lucky, but no one talks about all the money they lost.

With Bitcoin it's much easier to just keep buying and use it as a savings account while you live your life.

It depends...
*On the trader; if he/she has the capability to understand the rise and fall and its strategies
*Depends on the time of trade; there is always a comfortable time to do everything depending on our schedule and also the T/C's of the site
*Depends on what you're trading ; these really matter alot but at a point, most people don't see anything wrong with applying the same rules of trading in every e-currency, remember: this coins don't operate on the same level of volatility, so you might probably get busted if you misquote the news

The line that I bolded above makes me curious and if you don't mind, you can name the project of the coin that you have so we can give better advice.
I have doubt that it is a new project, which is I have doubted the seller you mean is the person you have known outside and you buy coins at a cheap price and this is not tradable yet in the market. I am right?

You can have further research if you want, but this is very risky if you don't have an idea of what you have invested. Usually, it will turn out into a scam.
However, you can reply to your thread and stop more details.

Absolutely, it really depends on your skills. There was at one stage a statistic going
around that 80% of traders lose.

If you have the skills and the discipline to trade you should be able to make profits, if
you only have 1 of the 2 there is a big chance of loss.

I'm not sure what quantity "huge losses" are but if they're more than 10-30% (depending on your strategy) you might want to look at changing up how much you're risking on each trade (unless you're buying an underlying asset you expect to grow - and don't have to sell for a loss at a certain price/date).

It is definitely something that depends on your skills and your experience as well! Some people try and do day trading as well which is actually beneficial even for the time when the price is not so high as well, some people face huge loss for sure but at the end they learn from it. I think you can definitely try it if you are willing to put in extra work and willing to follow the market every second of the day. I think you should try doing trading with Bitcoins and other cryptocurrencies instead of dollars as your main currency perse! There will always be a possibility of a loss therefore you cannot just exclude that, it's a gamble for sure!

Of course it is very possible to get profits from trading. A lot of persons depend on that for a living. That's not to say that you won't suffer some losses along the road, but ultimately if you understand how the market works, you definitely will make profits.

I have been trading for a long time. However, it is not always possible to benefit. In some cases there is a possibility of loss. After facing huge losses, I have benefited again after a long time. Bought 3k$ from a seller with current price of k 10k$. However, the dollars have not been set at present. Currently using trading. So I think the most beneficial. What do you think?