Topic: Trade isn’t for Me guys. - page 11. (Read 2082 times)

Luck is not that important in trading, but you have to develop rock-solid discipline and you need to find a way to control your emotions. Don't get me wrong.. statistics show that the majority of people are not "made for trading" - but that's mostly because they quit in the first months of losing or 1 year. If you really want to be a trader you will find a way to be profitable if you put in the hours to study the markets and learn from your mistakes.

Trading is about having a working strategy and sticking to it. It doesn't have to be more complicated than that.

Nobody made a good cut on the entirety of their trading journey. I'd say, you'll always be encountering unfortunate events even if you feel that you're already good at it  .

You shouldn't feel bad, bad experiences often leads to good result, what I am tryin' to point out is that you knew yourself how upsetting not getting the profit you expect, and worse is you just loss hence, you'll keep on doing better than before. Just keep on doing what you do and avoid silly mistakes you did last time, and take what you experienced now, and you'll be encountering (bad or good) soon as a lesson so you will do less wrong in the future. No one is perfect in this path, remember that  .

Trading is not easy, so you should accept that you may lose your money when doing it, there are many failed stories about trading and you are one of them, even me I lost my money as well in trading before because I am only a beginner when I tried trading, but when you get experience, knowledge and skills trading would be now easy for you, there is no 100% win date in trading but if you have those three it will lessen the possibility of losing your money, that is why experience is really good and we really need because it makes us learned new things.
 Well said, quitting is not the best choice because it's really normal when you lose your money in trading if you quit trading then you wouldn't be able to turn back those money that have lost to you.

I think the solution to your problem is to learn more and have more knowledge about how trading really works, it will really go a long way in helping you make profit. I don't know for how long you've been trading but i can assure you that even the pro traders we know today have somewhat been in your situation and probably thought about giving up to. In as much as luck plays in trading, knowing how the market work is really the key factor for making profits, you should learn about the concept of trading

You start with the adjective of luck! Well, you are already in trouble if you enter with the mentality of starting to trade by luck.

The trader is open to everyone, but you must understand what you want to do;
e.g. just having dollars does not mean that you are going to enter the world of currency trading.

You can change your dollars ....because you simply go on a trip to another country and you exchange to the local currency, then after some expenses you have some coins (Fiat) and you want to exchange them into dollars, but this time there are three exchange houses and they all offer a different currency exchange, you choose the one that suits your conditions In general, a better currency exchange requires higher amounts, others pay less but accept small amounts, etc.

Or simply at that moment that you change you get the price of the day to change to dollars, but maybe you did not even realize all that process, because you only want to pass your dollars to local Fiat and then from the local fiat to dollars.

In cryptocurrencies it is no different, many only invest or receive payments and need the money for whatever reason, so there is no time to evaluate much and they exchange.

But some, I assure you that they begin to realize with the time of fees, the volatility of bitcoin (eg) and then at least they begin to understand that their profits can be better if they start studying the market, when that happens a merchant is born who wants to start earning income from the sale and purchase.

So, it is not that the trading is not for you, it is that you are not preparing for to trading or you just do not know very well what you want to do.

__-___
There are many types of traders:
1.-The one who simply needs to make a change for whatever reason, food, emergency, responsibilities, etc.
2.-The one who arrives and simply makes exchanges, has no idea what he is doing. *
3.-The one who says "I want to become a millionaire"
4.-He who sees the price rise and sells or buys.
5.-The one who wants to make Hodl.
6.-The one that makes Hodl and adds more coins.
7.-Some other that escapes me and I have not named.
8.-The one that is in all the previous ones, but is no longer in number 2 (*)
9.-The one who learns that number 3 is not so easy and understands that trade is more than just "selling or buying"
9.-The professional merchant is always there to buy or sell, no matter the price, the day, the hour, it is his main income, the profits pay his bills.

I understand how you feel, because most of the newbies and inexperienced ones are having the same journey as you. I was there like you too, been there done that. You're not the only one who has this kind of issue.

Trading is not an easy game as it seems. From the beginning, there were always learning curves. As your skills go up, the difficulty goes higher as well, and it's totally up to you if you want to continue or not.

I have to agree that trading is not for all of us. Not everyone in the cryptocurrency and blockchain space are focused on trading. However, if you really want to master cryptocurrency trading, you need to educate yourself by becoming a skilled cryptocurrency trader.

There are lots of sources for you to get educated in becoming a skilled trader such as Youtube videos from crypto traders, NewsCrypto, TraderCobb, Udemy, Trading Heroes and so on.

No one is forcing you to continue though. If you give up, then that's your decision and not ours.

In the past on this forum, there had been a lot of people shared about quitting trading and that this community has been always tried to convince them to learn and then to proceed their trading; not sure what has happened to them after that but there are responsible community members here who are always suggesting about learning so that people will never need to leave off crypto trading.

There cannot be anything to do when people are getting frustrated and then deciding to quit trading, other than suggesting them to take a break and then try to focus on learning part of trading.

I never agreed to the myth of trading is not for everyone. Definitely it is suitable for everyone because there are different kinds of trading approaches are available and definitely at least one type of trading will be profitable for OP as well. I'm seeing a lot of people are sharing like long-term holding of bitcoin is profitable way of trading for them; I believe it is more suitable for any trader.

It is very difficult to trade on the futures market, but for the spot market I think it will be different,
I already have experience in the spot market for more than 2 years, and indeed the emotions are more controlled in the spot market

Try another if you are having a difficult time with bitcoin trading.
Different pair.
Maybe ETH/USD or XRP/USD.
It should not end just like that. Don't forget to not base it on luck also. That is not how it works.
You need to spend time monitoring the prices and also how much you are trading to see the results better.

In trading, nothing is easy especially if you're a newbie and you're just starting to learn more about it. I just want you to know that mistakes are essential and is a part of it, it is impossible for you to not to have a mistakes if you're a beginner. Don't say trading is not for you, but keep in mind that the reason you tried it is because you want to grow more.

You should've start it with yourself, you need yourself to grow more before your assets. It should start with you, if you work hard to learn and become better in trading, then things will fall in to its own place. Don't give up if you still can do it, I know it is not that easy but you need to endure it.

Be courageous every time you trade, nothing is certain in this world, every thing requires effort and hardships. I don't want you to have that mindset towards trading, in cryptocurrency, you should be patient and wise.

If you give up already all the hard work and money you lose will go to nothing. Don't expect to get profit too quickly it's not gonna work that way and even the experience traders can also lose if their analysis goes wrong. You have already there so continue with what you started, I'm also a beginner in trading but I found out that its really hard to learn about. It really takes a lot of time before you can do your own trading strategies and indicators.

It will never be a failure if you don't give up. I also used to be a big loser in margin trading and forex trading. But then I rested and looked back on the stupid things I did. After that, I started to learn more about trading knowledge, read some of the best ways to manage capital, and now I am gradually regaining what I lost. Here, the special thing that I would recommend is that when trading never listen to others. It will only make you more distracted and easier to lose.

Trading is for everyone but I an surprised that the OP has already concluded that trading is not for him because he makes losses simultaneously which was through his mistakes of not doing the right thing (which is learning the basic characteristic of crypto trading) first before he joined crypto traders.
Nevertheless, every experienced and successful trader you see today also started with lost before learning from their mistakes which lead to their betterment of today.

If you fail in any work, it doesn't mean that you can never do that work.
I have seen your profile. You join many bounties, if some bounties do not give you profit, then you will also leave this(bounty hunting)?
I don't think it would be good to do this, In the same way, you should keep trying, one day you will become a successful trader. And watch videos on Youtube about Crypto trading, maybe you can find some good tips or methods.

Trading never depends upon luck as long as you don't treat it as gambling. Reading your words, I assume you were treating trading similar to gambling. You have to understand what technicals are and it would help you chart a better graph whivh would than land you up in profits. Trading has never been easy. You need to work hard in order to earn profits from trading.

It is always better to stay away from trading if you are landing up in loss each time. Better learn first before earning.

Don't stop bro, keep trying.

This is really hard at first but most of the experienced traders and investors also experienced that and they learned from it. Investing is different from gambling, it is not about luck, it is about how you roll.

Learn from a lot of videos online, people are also sharing their methods here so it will really help you in a lot of ways. Since you might just be starting, follow some people since there are those people that also shares their investments. There are a lot of ways bro, try them before giving up.

Don't feel too bad. In a recent study, 97% of day traders lost money over the course of the study: Day Trading for a Living?

Granted, the Brazilian equities market (the venue for the study) occurs to me as especially risky and volatile, but I've seen similar numbers in the forex market too.

Trading is hard and most people don't realize it takes a lot of rigor to succeed. It took me a couple years before I became consistently profitable. It sounds like you're trading without a plan and without any risk management. If you want to continue trading, that's where I would start:

10 Steps to Building a Winning Trading Plan

Risk Management Techniques for Active Traders

Doing something without knowing about it will make you to lose your money, trading is also the same kind of thing.Each and everyone who is trading cryptos are losing at some point but what we have to do is to keep our profits more than our loss so we won't go bankrupt.Trading isn't for everyone but you are in need of making money in short term then trading is one of the best choice available but before doing it we have to learn the strategies, analysis and how to choose our coins based on our trading span.

The first time I started trading, I get the same experience as you. I lost my satoshi, even every time I start to pick the coin. I then realize that trading is not just buying at a low price, but more than that. We need to learn from many sources and don't stop to learn to trade because without having enough skills in trading, we cannot get in time to buy any coins.

Perhaps, you need to take a break for a while so you can analyze what is wrong with you, and how you cannot get the right coin. Perhaps, you need to learn more about trading, and don't forget that in trading, you also need to control your feeling, especially greedy, and it's not easy to do. Don't say trading is not for you because you probably learn to trade in the wrong way, so you don't understand the point from each lesson you learned. Don't give up @OP. Many of us also get lose, same as you.

I think that the issue is not a matter of luck as much as it is a matter of learning and experience, and this comes through knowledge, reading and following up on education channels, YouTube and others. It is not wise to start trading before you have sufficient information about trading, trading methods, risk management and other very important things that you know before Starting trading, you can change your luck dear if you start studying and learn the analysis and methods of trading and follow the news and then try your luck again and I am sure that your luck will change then!
Most people start their business with failure because they do not have enough experience, but with time and learning from mistakes all this will change so do not despair my dear and continue to learn and try.