Topic: Trading not for everyone! - page 17. (Read 2989 times)

I like your submission on that. That's the whole essence of SL by my rule. It's akin to he who fights and runs away lives to fight another day. What gets most traders into trouble is staying in bad trades and hoping the trades reverse in their direction. It's a bad strategy. In fact, it's not a strategy. Trades can float for months in loss without wiping one's capital off but won't give one the opportunity of taking another trade for the fear that one will be over trading. This is the same trade one can end in loss, take a breather and then trigger another trade and recover the loss in a day or within few days instead of allowing it float for weeks in hope it reverses. That's not trading at all. I learnt this the hard way.

Indeed, it is very important to use Stop loss, it will protect capital from uncontrollable losses because the crypto market is very volatile and the predictions used will not be 100% correct. Therefore the use of SL is highly recommended.

By using stop loss, you can control how much risk is taken in each trade and can also adjust the level of stop loss based on your trading strategy and risk tolerance.

Stop loss also helps traders avoid large losses by automatically selling an asset when the price reaches a predetermined level.
This will help keep the capital intact and give the opportunity to look for other trading opportunities.

As a trader, you really need to have a lot of preparation and a well-thought-out strategy to avoid big losses, and trade management is also very important.

This is because there's no perfect strategy for all three market types – uptrend, downtrend, and ranging. There are strategies that work well only during uptrend and downtrend but are woeful during ranging situation. If the market goes according to a trader's forecast, they aren't to fear it hitting their SL. You and I know there's no perfect market condition. We can predict A but the market says it's B. Again, it's very important to use SL because it gives traders that assurance they will still have a part of their capital intact, no matter what whenever the market goes against their prediction. Yes, we know there are big players and whales manipulations of the market and hunt for retail SLs, it's still better to have the stops than not have them.

Yeah you are right there are some post I have came across here they said "all funds are important to them" meaning this sets of people can't spare any amount for investment and trading because to whatever that comes as results may quickly make them to start panicking so, true trading is not meant for everyone and they should know the area suitable for them to venture into.
Maybe physical business could help go along way whereby they don't lose their money at a go, due to the volatility level of cryptocurrency we should mind the kind and sets of people we should always try talking with because some of them may not bear the lost.

If you are in need of money, and you have no job and no source of income, then it is foolish to expect that trading will allow you to earn. You need to be prepared that trading will not generate income as soon as you start trading, and besides this, it takes some time to understand whether you can earn money in trading, or this activity is not for you.

Successful traders talk about how they enjoy trading, which means that you should only do what you like. If you don't like trading, or if you only want to do it for the sake of money, then you also need to understand that it may cause additional difficulties in achieving success in trading.

Most time it is not even about the losses or profits that is associated with trading. Some people will be losing and their mental health will be affected seriously because of the emotions of trading. It is not an easy thing to see your money going down and you are not sure if you will make it again. It is a sort of finding money in such a way that your mind will not be at rest and you will not be mentally balanced. It is fine to buy and hold the coin for some time and you will make a good profit from it. Obviously trading is not for everyone and that is the reason I abandoned the idea of trading. I am now a hodler.

Trading is more stressful than we think and you will pass the test of time before you succeed, from my observation and experience, most people who continue trading after their first 3, 6 months to 1 year in their trading journey are traders that do have that passion for trading, I saw hell trading as a beginner, blew several of my accounts back to back, even went broke at some point. However, I never give up because of the passion and the freedom that I saw in trading, but I thank God today that all those experiences have got me improved. The bottom line here is if you identify that trading isn't for you… Quite

First, I don't agree with the title of this topic because trading is for everyone, but not everyone is interested in trading, and if anyone is interested, it doesn't last long in the beginning. Others have an interest that comes with dedication, determination, and passion, so they make a profit from it and don't get rid of it because they know what they are passionate about.

So if you're going to enter the trading business industry, you should know what you're getting into. You're not going to do it because you just heard that there are people who are making money here or because you're just hyped because someone told you it's good; you should instead believe them right away. You yourself have the will to learn it, and the interest to learn it must come from you.

The rule of thumb is always to invest what you can afford to lose because you are right, what if you lose it? Or mostly, the volatility of crypto is so high that you can really lose your money in just a matter of days, so always be defensive, like if ever you lose this money, what will happen to you and your life? If it is okay, then that is good. The problem right now is that when we see an opportunity, we tend to go all in because we are thinking that if this investing is a win, then for sure we will get a massive profit, which is again a bad move because we aren't defensive about what will happen if not, and we are not ready for it.

it is indeed the key that must be held, using spare cash which does not interfere with our needs for life will make us more relaxed in holding it. and before that we must also be aware of the risks, so there is no need to really hope that our money will multiply quickly, because thoughts like that sometimes often damage our common sense. if you are only ready to receive profits I don't think that should be done in the cryptocurrency world, because many people are disappointed in the end

Another thing to learn is that they should always used their spare money or money not in haste to make use of since most person's always expect huge profits from holding. From my understanding, whenever you are holding it should be for bitcoin only any other currency is at a very high risk because they posses the tendency of losing 99 percent and this alone had sent back people to their past. So why engaging yourselves with trading and hold you should also try as much as possible to only used their spare fund or an amount they spare to lose.

There's always that significant difference in between to those who do have actual experience and awareness comparing into those people who had just recently be able to see and watched about this market. Trading isnt for everyone but doesnt mean that we should really be stopping ourselves on doing or learning it just because you have seen that you are really that not making or doing something well. WE know that there are people who do struggle at first and on the time that they do able to have that experience then they do gradually be able to adjust out and make themselves sustainable. Everyone would really be starting as a noob on which it is really just
that normal that you would really be able to experience those common newbie mistakes and impression on the start or on the time that you have decided to deal off with it. It is really just that a matter of interest and
passion if ever you are really that willing to learn about trading and time comes that you would really be able to have a good grasps on it. Come to think that those professionals and veterans are once newbies too and
with the test of time and having that tons of trial and error then they do able to make themselves more better.It is really just that a matter of time and on how you do learn up things along the way. This wont really be an easy and short path on which basing up with our initial impressions when we are still newbies.

I know trading isn't easy but those who have been in the market for so long would fine it easier to trade and make profit then those that just joined the market recently. This is because those that have been in the market for so long would had gained experience and they'll use that experience when they're about opening a new trade. Experience makes a trader become a professional, we have different types of experience that you can use like personal experience and others experience.

There are so many individuals who are traders and they're making profits therefore if you want to learn how to trade and make profits like them you can do that by learning how to trade properly first. Trading is not for everyone but you can be among those that'll benefit from it.

But you can't get the answer only after a few trades when you start.
Trading for me is like a skill that you can learn and practice and become good at it.

Like you can't be good at something in just a short period of time. So for me, you need to first identify your goal why you want to trade and make sure you become consistent once you want to become a trader or once you decided to become.

If you try to learn different marketing strategies then you will also get idea about entry and exit points from the market but yes there are good and bad trades from which you learn from your experience and get knowledge about it.But if we say about the main part then everyone isn't perfect in everything and it's also need some special skills like quick decision making your research and other things which will help you decide whether you can do it or not.

Good point, it's a continuous process and it will going to depend on how you adopt and learn from time to time, it's not
just like place your investment and wait for your profits.

More on how well you anticipate and how you will analyze and make things happened, there's a lot of factors that you need to consider
when you step inside this business.

Make sure you are all aware of what would be the consequences and the benefits.

 trading is not for everyone if they don't have knowledge in the trading industry it is important here and you must have discipline in trade so before you enter the trading industry study it first and create your demo account first to practice you can use real money when know how to trade

Trading is not for everyone, and any newbie that really wants to trade can do that. It's just a gradual process, you have to be ready to read and learn. If you are learning how to trade, I don’t think there is anyway it can be done without losing money, so you are planning to trade, then you should have the mindset of losing money at the beginning. Don't expect any profit immediately you start learning how to trade, so make sure you deposit just a little amount when you are practicing because you might end up losing all the money.

It’s better to have the mindset of losing when learning how to trade, that’s why we have to go into trading with just a small amount of money as beginners. Don't trade with everything you have because you might end up losing everything, trade with any amount you know it’s not going to affect you after losing it.

Trading is not for everybody and we should not all have the intention that everyone who is a trader is going to make money form trading. Trading is a complicated skill tha lt needs continuous practice even when you are a pro trader, there is need to keep learning new things and strategy to become a great trader and tutor. Those who had been in the market for long can proudly say that trading is never easy.
 It is very difficult and if we don't find ways to get the complete skill, we can make money but we are going to be having so mere issues that will keep affecting our trading.

The best way to know if trading is for you or not is to try it. It is in trying it that you will learn whether you like it or not, whether you see yourself doing it for the long run or not. The advantage to this is that if you discover is something that you want to do, you can learn more about it, if not you can call it quits so that you don't loses your money.

For some persons, trading comes naturally to them while other struggle at it and rely only on copy trading and trading signals to trade which isn't trading at.