PROFIT must not be top priority in trading, instead of LEARNING first. - page 6.

Vaculin

hero member

Activity: 2940

Merit: 613

Winding down.

Quote from: stomachgrowls on March 01, 2022, 04:11:50 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.

SUSTAIN!

This should really be your first priority and next would be making profits because once you do able to sustain yourself then profits will be flowing through because you do able to make money
on longer runs.This is why surviving is the first or mindset you do have when you are dealing on this market and not just hurrying up yourself on making money because this would really
just give out those kind of desperation which might result into mistakes. Learn things first and when you do able to handle up yourself well on this market then making money
wouldnt really be hard.

Not only in trading but definitely in all aspects of life. The process starts with learning and embracing all the possible ways that will make you a better trader and once you have build already your own strategies to make trading works, that will be the start of creating successful trades and start to minimize losses in trading. And once you can sustain from making profits in trading, that will be the time to focus on maximizing your profits and going on extra miles to make it more possible.

Lordhermes

sr. member

Activity: 1232

Merit: 379

In trading,one must not just be after making money to grow in Bitcoin,research and reading are the major things one should do in order to grow and excel in the work.
Learning from the experienced and taking corrections is another way one can grow in the work, and when one looks highly at the profit without thinking of how to get new strategies on trading,there is every possibility that he will not excel in trading,because he will lack the strategies and experience on how to trade.

stomachgrowls

hero member

Activity: 3010

Merit: 794

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.

SUSTAIN!

This should really be your first priority and next would be making profits because once you do able to sustain yourself then profits will be flowing through because you do able to make money
on longer runs.This is why surviving is the first or mindset you do have when you are dealing on this market and not just hurrying up yourself on making money because this would really
just give out those kind of desperation which might result into mistakes. Learn things first and when you do able to handle up yourself well on this market then making money
wouldnt really be hard.

wxa7115

hero member

Activity: 2814

Merit: 734

Bitcoin is GOD

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.

The process will always be more important than the end result, most of the time people concentrate on whether things turn out positively or negatively for them and then they adjust their behaviors according to that, however there are many instances in which this is counterproductive and instead you need to focus in the process regardless of the end result, and trading is one of those instances.

For example a newbie that comes to the market and invest in a new coin and earns a fortune out of it thinks of himself as a genius and someone with natural talent to trade the markets, but that is just because he's judging his performance based only on the results that he got, however when we think about this in terms of the process we can see that he was just lucky and that if he keeps doing that then he's going to lose all of his money eventually, so even if he got good results what he did was wrong.

Bitcoin_Arena

copper member

Activity: 2114

Merit: 1814

฿itcoin for all, All for ฿itcoin.

It's why newbies in trading are always advised to only use money they can afford to lose because making losses while trading is something that will happen throughout a person's trading career.

Even well experienced, and professional traders make bad calls/losses once in a while. The aim of learning is for one to identify the best possible trading strategy they can work with which keeps making more profits than losses over a trading period.

joeperry

sr. member

Activity: 2282

Merit: 470

Telegram: @jperryC

Learning is definitely a priority and you should not enter market without any knowledge about trading, you don't want to jump into something that you have no knowledge at or any information regarding that thing, it is just like jumping without knowing where you are going to land. I think it is a common sense that you should be learning and gaining knowledge through actual trades but most of the new traders are too excited to earn profit and ended up losing.

Though I would like to clarify, in trading it is also a priority to take profit. All traders goes to market with only one goal... to have profit. But prioritizing both gaining knowledge and having a profit was a good one, both can be a priority.

bitbollo

legendary

Activity: 3276

Merit: 3537

Nec Recisa Recedit

Let's get simply, since it's a dichotomy "buy" or "sell", you can pick up the right event in the right moment and earning a profit... but this is just based on luck or maybe in some wrong assumption that you can't use again in another trade.
If you don't know information about a market you're just gambling on the market, more similar to a casino and not a real trade.
And probably most of people that approach themselves to altcoins and bitcoin market are just doing something like this.

Rich222

newbie

Activity: 14

Merit: 12

You are right, knowledge first before profit because without knowledge or experience profit won't be in existence.

Many people want to make money without having the experience or knowledge of how to make money or understand the basic things that supplies the money.

So in trading, profits shouldn't be your first priority but understanding the various concept involved in trading.

Kelvinid

sr. member

Activity: 2828

Merit: 344

win lambo...

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.

Topic: PROFIT must not be top priority in trading, instead of LEARNING first. - page 6. (Read 715 times)