PROFIT must not be top priority in trading, instead of LEARNING first. - page 2.

Zackgeno96

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Quote from: Ziskinberg on March 10, 2022, 09:04:52 AM

Quote from: Zackgeno96 on March 10, 2022, 07:51:47 AM

Quote from: AicecreaME on March 10, 2022, 07:39:10 AM

-snip-

It can be both of them are our priorities but we can't have them both together in a single set. There is one top priority that we need to address first and that is learning.
It was going to believe that having knowledge about trading will lead to somewhat called success and more profit. We can't dare hide this and the truth is that those people who are rushing to the market just fail. I guess we don't like it, not for sure and that is one reason why we should do searches, watch tutorials, and even have a mentor.

While it is true that traders cannot just simply have them both, learning is first but profit must also be a top priority. The goal of gaining profit is the mere reason why traders chose to trade, and if it is not fulfilled then, learning with more losing is somehow contrary to its essence because a trader that learns must know to find the ways to gain profit, right? So, I think these two must be balanced out to be top priorities.

Finestream

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Quote from: lixer on March 10, 2022, 12:26:46 PM

Quote from: judaspriest on March 10, 2022, 05:25:57 AM

It's too reckless if a newbie doesn't prepare all the things to start trading,
Moreover, the risk of losing money is very large because basically trading is not just about buying and selling coins,
for newbies, don't expect to make a quick profit, better use the time to learn

It is quite risky, but it also depends on the term "newbie" we are using as well. If we are using it to describe a newbie just to crypto, then we may never know, it could work out. How? Well that person could be trading in stock market for the past 20+ years, and come to crypto as a newbie and still could make money. I rather take that person over a person who has been trading in crypto for 3 years.

However, if the newbie in question has never done anything regarding finance, no trading, no stocks, no forex, no crypto basically nothing ever similar to this then I do agree that it would be risky to just jump into these things, takes a bit of time to get better.

We can never really tell unless he starts to trade in crypto and the outcome of it would definitely tell if he's good enough or not. But even if he's a newbie to crypto trading or not, its learning should always be prioritize. Traders are here for profits but they can never achieve that if they lack the knowledge and skills. So there should be time for learning first above all. And once its already build up in a trader, profitable trades will certainly come along.

Mauser

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Quote from: Kelvinid on March 01, 2022, 09:18:46 AM

I understand how bad if we lose money on our first trade but I think we have to understand as well that not all went too easily. There is something we need to change and instead of focusing on how to earn money, it supposes we have to focus on how to enhance our knowledge and skills first. For the moment that we have all of these things, it can be easy for us to make a profit in the market...it guarantees nothing but nobody was able to succeed in the absence of these things.

I agree with you, losing money in a trade as a beginner is not the end of the world. We shouldn't worry so much about making a big profit from every trade we do, it is all about learning and finding a profitable trading strategy. The thing with losing money is that we should try and find out what went wrong, did we make a mistake or was it a general market movement that we missed? Only with a loss there is a real incentive to investigate how we can avoid making the same mistakes again in the future. When making a profit in trading we don't normally question if we were wrong or right, making money is an indication that we were "right". It can of course be that we were just lucky.

lixer

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Quote from: judaspriest on March 10, 2022, 05:25:57 AM

It's too reckless if a newbie doesn't prepare all the things to start trading,
Moreover, the risk of losing money is very large because basically trading is not just about buying and selling coins,
for newbies, don't expect to make a quick profit, better use the time to learn

It is quite risky, but it also depends on the term "newbie" we are using as well. If we are using it to describe a newbie just to crypto, then we may never know, it could work out. How? Well that person could be trading in stock market for the past 20+ years, and come to crypto as a newbie and still could make money. I rather take that person over a person who has been trading in crypto for 3 years.

However, if the newbie in question has never done anything regarding finance, no trading, no stocks, no forex, no crypto basically nothing ever similar to this then I do agree that it would be risky to just jump into these things, takes a bit of time to get better.

savetheFORUM

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Quote from: Ziskinberg on March 10, 2022, 09:04:52 AM

It can be both of them are our priorities but we can't have them both together in a single set. There is one top priority that we need to address first and that is learning.
It was going to believe that having knowledge about trading will lead to somewhat called success and more profit. We can't dare hide this and the truth is that those people who are rushing to the market just fail. I guess we don't like it, not for sure and that is one reason why we should do searches, watch tutorials, and even have a mentor.

Having a mentor? That's rarely being suggested to learn trading and it requires money too. You're going to pay someone's time and knowledge to teach you how to trade but you can always recover that money as long as the mentor you chose is good enough and as long you carefully pay attention to what he was teaching about.

When we are done in the first phase which is acquiring knowledge, we can then proceed to the next which was applying what we learn to be able to earn a profit. It is now possible to have both of them ( knowledge and profit ). There is no need to rush because cryptos are not going to go anywhere. they can always wait if you are ready.

sarmrakib

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Quote from: Kelvinid on March 01, 2022, 09:18:46 AM

I understand how bad if we lose money on our first trade but I think we have to understand as well that not all went too easily. There is something we need to change and instead of focusing on how to earn money, it supposes we have to focus on how to enhance our knowledge and skills first. For the moment that we have all of these things, it can be easy for us to make a profit in the market...it guarantees nothing but nobody was able to succeed in the absence of these things.

This is the reason why new trade loose on trading on his early trading trading history .when we enter on the market it looks like easy and we feel that we can really earn from here but if we enter then we start to loose from this point .It only happen for lake of knowledge on trading .We have to learn first if we really wanna get profit here .We all know that trading is tough way of earning if we don't have enough know;edge we may loose on every trade .So that we need to learn each and every things of trading and start trading with low amount after getting a good experience ,you will have that confidence that you can really exit with profit .I that's the only way we can improve our level .So we need to learn on ever steps and every fall and gradually we will be a good trader for sure .

Ziskinberg

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Quote from: Zackgeno96 on March 10, 2022, 07:51:47 AM

Quote from: AicecreaME on March 10, 2022, 07:39:10 AM

Actually they are both top priorities. Your goal is to make profit that's why you risk your money with your knowledge about trading. Losing can't be avoided, because losing means you'll gain experience or be frustrated on it, it's your choice. Losing a trade doesn't mean you'll go back to square one, losing means you'll start a new one with some additional knowledge you just got by losing, and that's increase your chances on your goal which is to make profits.

Indeed, profit and learning must be both top priorities of a trader. It always depends on how traders take each winning or losing moments, but if one will go through the deepest essence of each moments then it can be understood that experiences through triumphs and tough positions will surely give learnings. And that valuable lessons or monetary gains are both profit on their very essence.

It can be both of them are our priorities but we can't have them both together in a single set. There is one top priority that we need to address first and that is learning.
It was going to believe that having knowledge about trading will lead to somewhat called success and more profit. We can't dare hide this and the truth is that those people who are rushing to the market just fail. I guess we don't like it, not for sure and that is one reason why we should do searches, watch tutorials, and even have a mentor.

Zackgeno96

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Quote from: AicecreaME on March 10, 2022, 07:39:10 AM

Actually they are both top priorities. Your goal is to make profit that's why you risk your money with your knowledge about trading. Losing can't be avoided, because losing means you'll gain experience or be frustrated on it, it's your choice. Losing a trade doesn't mean you'll go back to square one, losing means you'll start a new one with some additional knowledge you just got by losing, and that's increase your chances on your goal which is to make profits.

Indeed, profit and learning must be both top priorities of a trader. It always depends on how traders take each winning or losing moments, but if one will go through the deepest essence of each moments then it can be understood that experiences through triumphs and tough positions will surely give learnings. And that valuable lessons or monetary gains are both profit on their very essence.

AicecreaME

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Actually they are both top priorities. Your goal is to make profit that's why you risk your money with your knowledge about trading. Losing can't be avoided, because losing means you'll gain experience or be frustrated on it, it's your choice. Losing a trade doesn't mean you'll go back to square one, losing means you'll start a new one with some additional knowledge you just got by losing, and that's increase your chances on your goal which is to make profits.

judaspriest

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C O M B O

Quote from: LastKiss on March 10, 2022, 02:00:46 AM

Quote from: Kelvinid on March 01, 2022, 09:18:46 AM

I understand how bad if we lose money on our first trade but I think we have to understand as well that not all went too easily. There is something we need to change and instead of focusing on how to earn money, it supposes we have to focus on how to enhance our knowledge and skills first. For the moment that we have all of these things, it can be easy for us to make a profit in the market...it guarantees nothing but nobody was able to succeed in the absence of these things.

For new people yes I agree with that but for people who are already experienced in trading they will aim to get profit as much as they can, It will be wrong if people who just trade want to earn a double capital return in a day because they see a lot of ads that many people say trading will make you in profit 100% but in reality is not that easy.

It's too reckless if a newbie doesn't prepare all the things to start trading,
Moreover, the risk of losing money is very large because basically trading is not just about buying and selling coins,
for newbies, don't expect to make a quick profit, better use the time to learn

GiftedMAN

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Quote from: Kelvinid on March 01, 2022, 09:18:46 AM

I understand how bad if we lose money on our first trade but I think we have to understand as well that not all went too easily. There is something we need to change and instead of focusing on how to earn money, it supposes we have to focus on how to enhance our knowledge and skills first. For the moment that we have all of these things, it can be easy for us to make a profit in the market...it guarantees nothing but nobody was able to succeed in the absence of these things.

Most people will disagree with this statement because we believe that the sole aim of any businessman or woman is to maximize profit. I agree with you that we shouldn't place our total focus on making a profit instead we should acquire more training and gather more information and knowledge I believe we can make more profit if the necessary techniques, knowledge is put in place.

blatchcorn

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Quote from: ?? on ??

True, trading is not just about making profit but it is also how you handle your losses. You cant assure that trading makes you profitable especially if you do not have much knowledge, experience and skills. It is not get rich quick scheme like what others think. It requires a lot of hardwork and patience.

If you want to be a successful and profitable trader, it is important to educate yourself first. Have some knowledge, skills and experience. Do not become an actual trader. This way you can protect your capital, and when you become confident as a trader, you can earn more profit in the market.

Before you start your crypto trading journey educate yourself about the facts like "It is estimated that 95% of traders lose money — and yes, Bitcoin is certainly not immune to the same market forces and human emotion. Source".

Every trader starts its journey with loss and that's not a loss if you learn something and get some future experience. That's how successful traders are made. You can also increase your trading skills by doing stuff like paper trading.

My few satoshis are not come to crypto trading if you want to become rich overnight, as there is no shortcut to success.

LastKiss

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Quote from: Kelvinid on March 01, 2022, 09:18:46 AM

I understand how bad if we lose money on our first trade but I think we have to understand as well that not all went too easily. There is something we need to change and instead of focusing on how to earn money, it supposes we have to focus on how to enhance our knowledge and skills first. For the moment that we have all of these things, it can be easy for us to make a profit in the market...it guarantees nothing but nobody was able to succeed in the absence of these things.

For new people yes I agree with that but for people who are already experienced in trading they will aim to get profit as much as they can, It will be wrong if people who just trade want to earn a double capital return in a day because they see a lot of ads that many people say trading will make you in profit 100% but in reality is not that easy.

Lanatsa

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Quote from: blockman on March 09, 2022, 03:22:28 PM

Quote from: Lanatsa on March 08, 2022, 04:51:25 PM

Quote from: blockman on March 08, 2022, 04:22:54 PM

It can be managed and fixed. When you trade, you win and you're getting all the profits you've made. There's just a need for you to amend that mistake you've made.
And that's through managing your finances and handling better the money that you're holding. This is going to make you a better trader upon learning from the mistakes that you've made when it's about how you handle money.

Risk management in short because it is inclusive in all sorts of control when it comes through finances,emotion on particular condition or scenario which you would definitely able to experience it
and its true that your main priority should be on learning or taking a good grasps on everything and next would be getting profits without even you noticing.Stick with the basic principles and
dont be greedy and you would definitely able to sustain out this market even though it wouldnt be that simple but wont really be that impossible.

Someone who's been on a wild ride with the market would be feeling that it's no longer all about greed but it's going to be the learning and lesson that one can take.
The principle of earning as much as you can is the main goal upon trading and that's all you wanna get when the market is no longer that good at the moment.

Doesnt matter on what would be the market condition because every actions made would really be situational which means it would vary on the time that you are executing your actions which would really be in random

manner and not all people would be having the same thinking on what are the things that they should do.Priorities would be on making profits no matter what but you wouldnt able to attain
that if you arent that good on handling out situations and of course setting up goals would be there and possible targets on which you do made out decisions.

blockman

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Quote from: Lanatsa on March 08, 2022, 04:51:25 PM

Quote from: blockman on March 08, 2022, 04:22:54 PM

It can be managed and fixed. When you trade, you win and you're getting all the profits you've made. There's just a need for you to amend that mistake you've made.
And that's through managing your finances and handling better the money that you're holding. This is going to make you a better trader upon learning from the mistakes that you've made when it's about how you handle money.

Risk management in short because it is inclusive in all sorts of control when it comes through finances,emotion on particular condition or scenario which you would definitely able to experience it
and its true that your main priority should be on learning or taking a good grasps on everything and next would be getting profits without even you noticing.Stick with the basic principles and
dont be greedy and you would definitely able to sustain out this market even though it wouldnt be that simple but wont really be that impossible.

Someone who's been on a wild ride with the market would be feeling that it's no longer all about greed but it's going to be the learning and lesson that one can take.
The principle of earning as much as you can is the main goal upon trading and that's all you wanna get when the market is no longer that good at the moment.

YOSHIE

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I agree with the title of the OP, where someone with the skills and knowledge of crypto trading that they have automatically profits will overtake that user.

I realize that in crypto trading, learning and knowledge is very important, that's why I see many people complaining in this forum that they experience losses, none other than that they do not have expertise in the world of trading.

I think learning about crypto trading is important, someone who has knowledge can lead them to success.

LeviOrwell

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I am very important, but I always feel that it is a bit hypocritical to say that learning is a bit hypocritical, but it is true that there are still some things to say about making money. Some people have learned similar losses, but it is still difficult to learn how to make money.

Japinat

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Quote from: lienfaye on March 08, 2022, 11:52:57 PM

Quote from: Kelvinid on March 01, 2022, 09:18:46 AM

I understand how bad if we lose money on our first trade but I think we have to understand as well that not all went too easily. There is something we need to change and instead of focusing on how to earn money, it supposes we have to focus on how to enhance our knowledge and skills first. For the moment that we have all of these things, it can be easy for us to make a profit in the market...it guarantees nothing but nobody was able to succeed in the absence of these things.

Knowledge is really important. As much as you want to earn fast, you cant do it without basic knowledge on how to trade. Newbies who are eager to earn and not thinking of the consequences are likely bound to lose for not being careful.

But every losses experience is also a good thing because we'll learn something from it. Then we can realize what we did wrong, how to improve it and think of an effective strategy that we can use if we trade again.

Losses in trading always bring good lessons to learn, and from learning we tend to grow more in trading. But trading with frequent losses is another story. There's something wrong that you have to figure out and correct it, otherwise you will become doomed losing in trading.

But new traders in the market are not eager enough to learn, instead they are more interested to look for quick profits as what they believed that trading could be a quick rich scheme. If that will be the new traders' mindset, i'm sure most of the traders can never sustain the crypto market and end up quitting rather than learning more in trading.

lixer

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Quote from: lienfaye on March 08, 2022, 11:52:57 PM

Knowledge is really important. As much as you want to earn fast, you cant do it without basic knowledge on how to trade. Newbies who are eager to earn and not thinking of the consequences are likely bound to lose for not being careful.

But every losses experience is also a good thing because we'll learn something from it. Then we can realize what we did wrong, how to improve it and think of an effective strategy that we can use if we trade again.

When traders are chasing profits by leaving off knowledge then definitely they will bite the dust over the time. Traders who understand about the importance of knowledge on making profit in trading will definitely will prioritize learning. I believe many traders will start realising about the importance of acquiring good knowledge about trading only after encountering continuous losses.

If you want to avoid the frustrations of losing continuously in trading then you should go for gaining knowledge before start chasing profit.

lienfaye

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Quote from: Kelvinid on March 01, 2022, 09:18:46 AM

I understand how bad if we lose money on our first trade but I think we have to understand as well that not all went too easily. There is something we need to change and instead of focusing on how to earn money, it supposes we have to focus on how to enhance our knowledge and skills first. For the moment that we have all of these things, it can be easy for us to make a profit in the market...it guarantees nothing but nobody was able to succeed in the absence of these things.

Knowledge is really important. As much as you want to earn fast, you cant do it without basic knowledge on how to trade. Newbies who are eager to earn and not thinking of the consequences are likely bound to lose for not being careful.

But every losses experience is also a good thing because we'll learn something from it. Then we can realize what we did wrong, how to improve it and think of an effective strategy that we can use if we trade again.

Topic: PROFIT must not be top priority in trading, instead of LEARNING first. - page 2. (Read 715 times)