Topic: Trading not for everyone! - page 19. (Read 2977 times)

Beginners who don't have enough knowledge and experience can still learn to trade if they want to try it. But if not, they can choose to become a crypto investor and it doesn't take much to learn.

Trading is for everyone, but it depends on how willing they are to learn to trade more to have better analytical skills. However, only a few people are willing to take the time to learn more about trading because many of them rely only on signals from other people.

If you want to trade, you must have analytical skills. If you want to be an investor, you must learn when to buy and hold it. If you want to be both, you have to learn more. It's that easy but getting there takes time and many people cannot do it. So the choice will come back to you.

Don't follow people and swallow them whole, I agree with you there are exceptions here.
You said good points about bitcoin and also good points when talking about shitcoin. In bitcoin I think in the beginning we also followed others, it's just that the difference is that when we followed others and we looked for reasons why we decided to follow them, and after we found the answer we (me personally) did it until now. It's different when talking about shitcoin, I see most people who fall into it are people who don't want to be left behind (FOMO), and that's a bad thing. More worryingly, sometimes people who already understand are also trapped in it.

Day trading or short term trading is not for me at-least and there are much success stories. Even experienced day trader finds it hard to tackle Bitcoin and incur heavy loses. Its always best to invest in Bitcoin for long term since thats the most reliable way to invest in any trading market. Day trading can give you profit occasionally but in the long run you are deemed to lose.

There’s an exception to this. There’s some time that following crowd will make you profitable on trading and this is when upyou enter on a crypto investment that is just starting to create a trend just like Bitcoin when it’s newly listed to the crypto exchange. You will earn a lot if you follow those who believe on the future of Bitcoin that time.

But most of the time, Following the crowd on shitcoin investment is really bad idea because it’s a short term investment that typically investors come and go to the project when there’s no hype already.

I realize that in trading, no matter how good your technique or strategy is you have to use the stop loss strategy alongside incase their is volatility and it is only traders who have seen this experience often times that will keep to it. If you don't apply the stop loss, you may be succeeding until a certain time that it will backfire on you and you go back to zero level. If you don't have the right emotion, you won't have that sound discipline to trade with stop loss even if you reduce your leverage.

That's why I don't trade anymore, I just accumulate and do DCA and so far so good for me, slowly accumulating but at the same time I'm not stressed out whether I opened the wrong position or not and whether I will be losing a lot or not. Definitely, trading isn't for everyone, that's why it's important to have some instropection before going for something like trading, if you do so, you save yourself from hassle and stress of continuously losing in trading.

Don't say it in front of my face already. 

I tried trading, and then failed. Stopped for at least 2-3 months, saved some money then do trading again. Same result. Did the cycle at least 3 times, and after that I didn't trade anymore. Currently, I stopped trading already, but will I try trading again in the future? Yes I will, and will lose again. Kidding aside, I will try trading again in the future for sure.

Trading really isn't for everyone especially for those who are BI-POLAR who change their mood very easily. Trading isn't for those impatient people as well. Trading isn't for those who can't control their emotions as well (like me). Trading isn't for those investors who are thinking way ahead to the point that they want to get X amount of dollars in a short amount of time where in fact, they can't get it. Trading is only for people who has self-control, patience, have knowledge in trading, and for those who are ready to lose money.

Kidding aside, I always like to go the safer route which is DCA. Trading can give you more profits in a shorter amount of time, but at the same time, you can lose money doing trading in a shorter amount of time compare to just doing DCA that it takes a long time, but it's safer. For those who like who tried, and failed multiple times already, come to your senses, and decide whether you still want to do trading or not.

The hype of the trader makes the beginner think about an easy money in trading and yes this is not for everyone especially to those who are not spending their time on learning how to trade and fully depend on any signal or group.

In trading, only those who have the right emotion and knowledge will succeed, retail traders will suffer because of this issue. Trading is very stressful, and this is not always about taking profit. If you are inspiring trader, make sure not to skip the learning process.

It is for those people that have perseverance and patience that is a must for me in trading because you'll have ups and downs like the candles in your journey learning in trading, and mostly those not patient enough will quit along the way because they tend to want to take a shortcut and earn over night. Also, this means that trading is a skill that is obtained by a person, and without it, it is not for you, and you can't earn a penny from it unless you learn it from scratch.

Some Old traders in cryptocurrency are not still interested in trading, they stick to their buying and Hodling of bitcoins as a way to accumulate bitcoins and  are not interested in trading because they know and understand the risk involved and are not willing to try, or have tried and have given way. New traders need to understand that it is a lie that they have believed about trading that it is as pleasant always as they think. There are still very terrible moments that traders experience.

You can get poor from trading.

It's because newbie traders mind tells trading is the way to get out of a poor life. Their mind is full positivity, and positive emotions where even they don't have enough knowledge in trading they think that it's easy. It's also what mostly mentors taught that you will be rich in trading, and that's what I also taught before. Realistically, it's possible to happen but if you only have a small amount of funds it's difficult to be in that place because you're not always win in trading,  there's no always a good setup in the market, and sometimes you experience a couple of loses. And that's what I see in trading that make our dreams to hold but we have to pursue trading especially if we are profitable because you will only fail if you quit.

^ It is because not everyone has these requirements which require a combination of knowledge, skills, experience, and emotional control. Without a thorough understanding of market dynamics, technical and fundamental analysis, and risk management strategies, the potential for losses can indeed be high. Engaging in trading without the necessary preparation and competence can lead to unnecessary losses and frustration. Because for me, trading is not guaranteed us as always success it demands continuous learning and adapting to changing market conditions. So if you will win, someone loses.

well thats the thing with trading, you gonna need to literally go against the whales, even using technical analysis sometimes it just doesn't work after all even the whales also know the technical analysis.
I'd definitely always recommend to just hold, becoming an investor seem like good idea, after all there's always opportunity that gonna arises in the meantime we are holding our investments.
accumulating when the price of some certain coins is getting massively corrected almost always turns out to be such very good decision that when the coin is having the slightest recovery we are already
making some good profits.
by doing DCA we are already ready to welcome the next bullrun and flip some massive money and get some good profit out of it.

Absolutely. Trading is not for everyone since not all of us are capable enough to make it work in trading. Some are just trading for losses, so why bother to trade when your knowledge and skills are not sufficient enough to make trading work. Sometimes, it’s better to stay in a less-risk activity because at least you can maintain its profitability, than to jump in high risk trading and all you gain are failures and losses in the end. Trading is a battle of mind and experience, so only trade if you think you’re already capable enough.

Right on, trading isn't for everyone but everyone can be an investor and a holder. There's the track for those that are frustrated with trading and that's why you don't have to quit the entire market just because it's not working for you. Those that have experienced and thought that trading is the only way to go have already seen that they've got no future with that. But there's nothing wrong in trying as long as you can afford to lose the money that you're putting there as your capital. While in holding and following the strategies like DCA, you'll just have to endure the painful market for a while and will see how effective it is in the long run. We've been there and done that and that's why it's a good and perfect strategy for those folks that don't like to see themselves lose with their trades. In short, you'll still have to trade but that's only the time you'll do when you're going to buy and take profits.

It's certainly not for everyone. I had attempted it back in 2017 or 2018 and wasn't too successful, if I'm honest, and gave up, and it was completely my fault because I put in no effort whatsoever, while I had no experience back then and fortunately, only suffered minor losses. After I started getting involved with cryptocurrencies in early 2021, I decided to involve myself again after spending some time on the forum. I aimed for at least 8% to 10% profit on each trade, and I'd conduct 2 to 3 trades per week, depending on the market situation, of course. I was far from being ready to trade on a daily basis; sometimes I'd hold for a few hours, other times for a day or two, and sometimes even more, as times were much more volatile back then.

It was honestly a fun and interesting experience; however, it's extremely nerve-racking and stressful. As an anxious person myself, I wouldn't be able to keep up for long because it would start affecting my mental health and free personal time. So yes, trading isn't something everyone can handle; thus, I decided to keep holding my Bitcoin until I'm satisfied with the results.

Just another piece of advise to newbies that just starting their journey with cryptocurrency, crypto trading is not for everyone. If you are unsure of your capabilities to trade it will be beneficial to you to just buy and hold, and be taking each opportunity of every dip on the market to Dollar -Cost-Average.

You're peacefully on track, and not losing out on anything. Trading has sent a bunch of persons back to their past.

There is a time for everything, and the bull market is usually the time for holders. I am sure when the bull market returns as we're expecting, if you hold good project's you will make a good profit.

Don't follow the crowd, follow what has profitably proven to work for you. In cryptocurrency market it is time that makes the difference in our profit-making.