Topic: Trade with a business mindset - page 3. (Read 938 times)

I’m trading for many years in crypto but until now I’m not comfortable on my trading strategy even though I’m having a good steady income on stocks trading here in my country.

The fundamental analysis on crypto makes crypto trading very wild since you didn’t know when this kind of volatility will hit and on what direction. Even if you have a good TA while a big news can easily deny your TA.

Crypto trading isn't a get rich scheme. Some days can be very profitable while some days might be terrible.

A certain amount of profit is logically determined for every business. But many unscrupulous traders sell at inflated prices in the hope of extra profit. Such a situation prevails in the crypto market as well. Where one refuses to sell even after making enough profit, he has to bear the weight of loss at one time. Before doing business we should master some things carefully especially a trader must have realistic knowledge.

We are talking different things on what is traded and I don't think it can be fully applied to trading crypto (or anything that has a price chart). Business people can almost accurately interpret the level of market demand, for example the need for basic goods. They can therefore adjust the numbers that consumers can reach so as to maintain regular profits.

We are talking different things on what is traded and I don't think it can be fully applied to trading crypto (or anything that has a price chart). Business people can almost accurately interpret the level of market demand, for example the need for basic goods. They can therefore adjust the numbers that consumers can reach so as to maintain regular profits.

Copy trading can work, but you have to pay huge fees for that but I think this can work more if you are too busy to analyze the market, but if you have a lot of time for trading then I also suggest to learn this on your own and save yourself from paying huge fees monthly.
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Trading is a very unpredictable business tbh and you should accept what amount you can get in every trade as long as you can make profits afterwards and not losing money in it. Be practical and always build a good strategy so that you can gradually get your price target. Being greedy will not work so be smart enough..

Everyone approach the market differently using different indicators, techniques, strategies and trend detectors. I tried comparing crypto trading and our every day business. People in our commercial markets keep their profit realistic. For every commodity displayed the have a fixed price attached to them and even if the give buyers the opportunity to bargain the always have a fixed price the will never sell below. This regular business individuals also experience loss but because of their consistency and realistic profit margin their profit cover-up for their losses.

Comparing this to crypto trading many traders have good strategy. Some see good profit but fail to take them because the expect something bigger. If crypto traders can use the business mindset on their analysis the ratio of their profit to loss percentage will be so large. A business person keeps their greed out of their business because the know if their price get unaffordable they might lose their customers. If crypto traders have a price the expect from every trade we will have more profit than losses.

Crypto trading isn't a get rich scheme. Some days can be very profitable while some days might be terrible. The good days should be appreciated, the bad days welcomed and because everyday isn't profitable having a good profit plan for everyday trade helps save the profit and limit the losses. The first step is having a working strategy and after that is knowing the limit of your strategy. No matter how good a traders strategy appears there is always a limit it can't exceed. Not because those strategies aren't reliable but because the market varies and no single model trained can make accurate prediction in all market situation. Each of them have their strength and limitations

I quite agree with your view there. In trade, in as much as everyone is expecting to make profit, it's really unrealistic to set a huge profit margin and when it doesn't pan out, you lose interest and conclude this line of trade is not for you.
 
 To become effective and profitable in trade, you should bear in mind that there are sunny and rainy days in business and what helps you carry on is discipline.

I like the word realistic profits from the OP. The thing is everyone wants to start trading today and want to 5x or 100x their investments by the end of the day. This is just ridiculously expensive thought anyone could have even in their dreams. I literally laugh when I see advertisements where some random guy is posing in the film and how seriously he keeps telling his story that he is earning 20-50k every month from trading and he just started couple of months ago and he is using XYZ app that’s why he got success. Bullshit man, I literally laugh on such things. Not only this, now there are instagramers who are experts in the field. But nothing is realistic in them. Trading is big bull game. You have to give lot of time and effort for it.

I have seen people not trying to build their own trading pattern but they are relying on copy trading because of their past experience of loses. They are not doing a business of their own if they are waiting for trade call before they go in because such type of trading is not with business mindset but to always follow the call of a sender whose mind is that of the mind of the sender.

In my humble opinion it should be part time only, trading as a full time job is not a great decision to take, i know that many people do it, but it is not good to do so and new traders who want to follow that line may find themselves in a financial mess no sooner than they had started their trading journey. A trader without a job will become a liability very fast, except such person is 'bankrolled' from an external source.

Not great decisions to make.? How about those people who had made themselves as a full time trader? Doesnt matter if theres someone who do love to be like them.Its not their fault if these people would really be

losing money.Of course, when we are just new then it would really be just normal you would be losing money since lots of mistakes that you would really be committing.

Full time trading isnt something that you could really engage or make yourself that effective directly.It is really worth once you do really make yourself sustainable then
this is something that a skill which no one can take it from you.Making trading full time wont be easy but once you do have a good grasps on it then
it is really something worth.

In my humble opinion it should be part time only, trading as a full time job is not a great decision to take, i know that many people do it, but it is not good to do so and new traders who want to follow that line may find themselves in a financial mess no sooner than they had started their trading journey. A trader without a job will become a liability very fast, except such person is 'bankrolled' from an external source.

Trading is a Full time and Part time both type of Work depends on your investment..

it’s always good to have your own strategy because this is your own battle and you have to do everything just to win in trading .