Topic: What is the most significant trading sacrifice you believe you have made? (Read 542 times)

I haven't been in full-time trading for years, I only tried to be into it for some months, up to a year and I want to say that this is very stressful, full-time trading is so stressful that sometimes I had to be awake during the night to monitor the price and avoid financial lose and gain profit. I had a moment when I was doing futures trading for 2 days in a row and I had to be awake for one night because I had a good moment and wanted to gain as much as possible. Then, I opened a long position on different crypto/usdt pair and price started falling, I was checking it all the time and was thinking about whether to close the position or wait. Sadly, while I was thinking this, I fell asleep and some of my money got liquidated. I learned from that mistake that full-time trading is very stressful and isn't worth the possible positive outcome.

I think taking my rent money to trade was the biggest sacrifice Ive ever made

I am not a trader yet but I have been around traders and I know some of the things they did just to raise money for trading. I was working for my friend that owns a construction company. Somebody came and introduced trading to him and he began to learn trading skills. After few days he ordered my to sell off some of the construction materials we bought lower than the cost price. I was surprise so I asked him why he was doing this and he told me that he will make more money from trading. The worst part of it was that he was too desperate to make money from trading that he became impatient to learn. His trading teachers tried to explain the risks associated with trading but he failed to listen and learn. He bought a new laptop and began to place trades. In few weeks he was already in debt because of the loses he incurred. He abandoned trading and focused on his construction business. I know that I cannot sacrifice accommodation, clothing, food health and education because they are basic needs. I can sacrifice anything I can do without to save for the trading business.       

I have sacrificed sleep. My daily routine is Fu**ed up. I don't know if this counts as sacrifices, but I think this is the most valuable thing that I have sacrificed for trading. On average, you need 6–7 hours of sleep. But I only sleep for 3/4 hours. Did it pay off? Still unclear on how should I answer that. I am still learning and trying to do my best. As they say, "there's no time or age to learn, as long as you are alive, you learn new things every day".
So still doing the hard work in hopes that one day it will pay off for sure.
Taking risks is a bold thing to do in life in order to achieve success. But it is not for everyone. At first, I thought it was never meant for me. But now, as I am learning and building up my skill sets, I am getting confident that I can also do it someday. I have tried trading with small amounts and made loss and profits. And I also know that it is going to happen no matter what. Even the professionals make mistakes. They make profits and losses too.
So hopefully this sacrifice will pay off someday.

Going into such extent is really that using up the money which is  really that intended for important use shouldnt really be using it on trading because if you dont have other sources then you would really be finding
yourself on great trouble if you are really that not mindful when it comes to spending it. Trading doesnt really assure that you could really make money or income with it specially you are dealing on a market which is really that volatile on which it would really be just that normal that risks is high.Unless if you have some back up plans on replenishing out those money had been used then its just fine.
Sacrifices could really happen because not all the times we do have funds on which we would really be doing some sort of things just for the sake of such situation on which you would really be
liking to trade up.

That was a very risky move using your house rent as capital for trading, you're lucky you made a big profit because many people have lost their house rent and got kicked out of their apartment because of using it for trading or gambling. I can't take such risks and that's not because I don't believe in myself or my ability to get big profits from the market but because I know the market can be very unpredicted.

Crypto market is very unstable and when risk like this are taken, it usually ends badly for the individual that does it. I don't encourage others to do the same instead sell something that'll not put you at such a risk if you're looking for what to used to raise capital for trading.

Yes, that's right, maybe only some people are ready to do things that are beyond their limits, such as selling valuables or the like, because there is no guarantee that we will be successful, especially when trading futures, where we know what kind of risks are involved.
I am a trader just like you, I only trade in my free time, or in other words I am not too focused and become a day trader which will indeed take time and thought, because I have another job besides that. Moreover, the trading that I do is more spot trading than futures trading. I don't want to take a big risk, but as long as I can minimize my risk then I will do it.

Spending time on it is a big enough sacrifice that you do not have to do anything else to be fair. Because time is not something we can earn back, even if you lose all your money on bitcoin, you can find a job, work and earn a salary and you can make that money back, hell even if it is too much then you could get a lottery ticket and win it all back. I am not saying it will happen, but it is "possible" that's the important part, it is not impossible, technically speaking you can earn it all back.

However, when you spend time on something, there is no turning it back, you don't really end up getting anything back, you may have a better future thanks to it, or even better today, but you will not get the time back so what you sacrificed is bigger than people who only spent money on it.

I thought, I didn't make such a big sacrifice for trading, like that person did or something like that. Only sacrificing free time to learn about trading, to do research, and also to do trading itself. I'm not the type of daily trader who is very significant in trading, so it's only natural. As long as it continues to produce and earn more profits, that's enough. So it's not for trading that really takes up time, energy, thoughts, or money. Because I live with my small family, I have to stay under control so as not to be lured into trading with risks that are too high. Even though all of that still needs a process, until finally I decided to only focus on Spot trading, not futures.

People sacrifices for success and every success needs sacrifice but if certain rules are followed then person will easily get profit rather than sacrifice anything.

These points are necessary to avoid harsh condition whenever you need money like if you save money when you have good amount of money then you will not take loan whenever you need certain percentage for necessary things or make investment. I think that if those things which are not crucial for life should be stop to use because lots of people are spending much more money in useless activities which enables you to save money.

Learning before investment is also very important because money comes very hardly so selection of coin and using of knowledge will be most important things which will give you fortunate destination.

As long as I have been active in the crypto world, there have been sacrifices, but what I have felt so far, the sacrifice that can be felt the most is that I spent a lot of time at my desk while analyzing the market and learning about crypto. I have never sold any goods for trading capital or investing in crypto, because I really use the savings I have, and even then not all of it. Because in my personal opinion, if you trade or invest in crypto, you don't need to do something that I consider risky and excessive. I can think like this maybe because I am a person who does not want to take too deep risks, and that includes investing or trading in crypto. But even so I now feel grateful, because now I can already reap the rewards of my short and medium term trading in crypto.

And maybe for people who are able to cross the limit of their fear, maybe they will dare to sacrifice any valuable object to be used as capital to trade in crypto, and I consider such actions not wrong, the most important thing is not to borrow for capital to trade in crypto. Because increasing capital in the crypto world, it is definitely a step that must be full of calculations, and cannot be half-hearted. Because if the mind and heart are still half-assed, I think it will not be good.

If the logistics company has ceased to generate income, then such a serious step can still be understood, but according to statistics, transport companies make good profits and drivers receive good salaries even in the most crisis periods, because it is difficult to work without transportation.

I think you are taking trading as gambling because I don't think that you can lose all your money in trading unless you are trading futures without knowledge and experience or trading tokens which are not worth trading at all, otherwise, if you gain some knowledge and experience and trade with caution and follow risk management techniques and practices, you shouldn't face many issues.

Trading can be a full-time gig if you understand how everything is done, all you need is good capital, enough knowledge, experience, and time, then focus on your trades and risk-management, you can earn good enough to live your life with ease if you can manage it well.

I don't remember that I made any sacrifice when I was doing crypto trading here in this business industry to be honest even now.

Maybe, what you mean is that you were able to sell your holdings at a price that was against your heart desicion because you were at a loss but because you had no choice you still sold it for emergency purposes, instead of holding it for a few years, is that right?

First, I'm not sure how successful I have been, is there a standard of judgment to self-proclaimed success?
I've traded to multiple platforms just to catch up on a few coins listed exclusively on an exchange. Yeah, maybe my significant sacrifice is my identity on KYC processes. I wouldn't take the loss in nominal terms as a sacrifice, in fact it will likely recover after some time.

It's a pretty risky loan when you say you're all in for a trade that you lose in the end, but you're paying back the loan along with the interest charged of course.

I'm not brave enough to take out a loan because I know it's very risky.
When you lose your trade, of course, you need to study what went wrong with your trade at that time.

The decision not to take another loan is certainly a good decision.
It's better to trade with the money you have now and can afford to lose.

That's not a sacrifice, but a big risk that you take and also lose it all.

Some of my sacrifices in trading were when I decided to hold some coins that were about to snapshot a new coin and in the end I held it and I lost a lot because the market was crashing. maybe if you are an old trader you will remember the NXT snapshot that will get IGNIS coins.

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I would say mine was not a big deal I use my house rent to trade and the last thing on my mind was to sleep in the street, that sacrifice I made was a bit risky for I had no choice but to trade with it my eyes never proceeded out of the candlestick and also my right eyes were on my moving average think I trade with about $2500 but that sacrifice was too big on my head and I was trading with my laptop that good day I were not life the A/C was turned on but still felt hot deep down in me but little did I know that it would be my luckiest day before I knew it, it got higher and took a risk and made a sacrifice and I did profit a lot.
Is it that this life is full of sacrifices and risk?

Maybe taking a loan when I was starting to trade, for me that’s quite a sacrifice since I’ve been paying it after I lose my trades. And good thing, my first loss served my motivation to improve my skills and develop working strategies when trading. So I’m not regretting at all taking a loan that time, but I will never take a loan anymore just to invest or trade, especially in this highly volatile market where winning in certain time is not fixed or guaranteed.

You are right that trading as a side hustle is profitable and those who totally depends on trading become more likely to face risks as if they don't get any  profit then it will become hard for them to continue trading. Trading should be considered as a part time job as it is very risky you don't know that in next step will you be a profitable trader or loss all your money so just put little money and continue your regular job with part time job as trading.

Everything that you do read up which it would really be connected to trading is not really something considered to be wasted and it would be much better compared into those people who are just idle or sitting

around but for those who do make out some research + having that real experience and learning on actual trades do really make out those kind of progression on which it is really that something
that really needs for you to sustain and survive this crypto space. Its significant i would say and about sacrifices then we do really have different kind of actions that had made along the way
which it isnt really that bad as long it would really be that beneficial for long term.

As long it would really be that something significant then it should really be fine but if its something that would be talking about non ideal or something that shouldnt really be
done then it shouldnt really be done at all.