What is the most significant trading sacrifice you believe you have made? - page 3.

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Quote from: mvdheuvel1983 on May 30, 2023, 10:53:35 AM

If you have been full-time into trading for one to three years, what has been the greatest sacrifice you've made to become a successful trader? And did it pay off?

Someone I know who a seven-figure trader is now made the sacrifice of moving into a shared apartment with a friend just to save money. Another person, who had previously started a logistics company, sold off his trucks and used the money for trading. Another person had to pay to be mentored. He did this because the mentor said people do not appreciate free things, and if he were not making the sacrifice of paying out of pocket, he probably would not be serious and would take it for granted. These people cited in here went on to become successful traders. It paid off.

If I were to say what is the biggest sacrifice I needed to make to learn how to trade I would say it is time and effort I invested into it, now it is easy to say you have dedicated a certain amount of time to something, but most people lie about that time and effort, as they are never really concentrated on the task at hand and they are doing several other things that distract them.

However I committed fully to the development of my strategy, and backtested it against all kind of market conditions and different markets manually just to make sure that it worked, a very slow and boring process, but at the end it showed me that I was on the right path.

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Quote from: Russlenat on June 02, 2023, 04:59:16 PM

Quote from: Stedsm on June 02, 2023, 04:31:55 PM

It takes a lot of time to become a successful trader, and that's what most of us here would have sacrificed.
About money, I didn't go that way till I believed that I'm ready enough to trade real funds, that's when I trained my mind as well as my psychology a lot about the risk management and various other aspects through which I learnt trading. I never went to trade huge lots even after knowing that it was a demo account, that's because I wanted to prepare for real world trading and if I can do that, anybody here can do that.
The most important thing here is to achieve consistency which is why we need to give trading a lot of time, and also follow some successful personalities because the vibe that comes from them increases our faith that one day, we will also be one of them. Wink

Making some sacrifices in trading are not new anymore. People take some loans and even sell their assets so they can start trading at a good amount. While professional traders might be confident from doing this, but for beginners they are not advisable to risk these types of sacrifices. Most likely, they are more susceptible to losses so they should always trade at a minimal amount. Good thing for me, I was not able to take loans or sell something important for me in order to trade. I just reserve some funds from my salary and start trading when I know I have earned enough guts to trade. And as expected, I kept on losing at first but have overcome them when I’ve gained personal skills and strategies in trading.

Not only limited on trading but also in other opportunities in life on which you do see that you could really potentially be able to make have that huge changes in your life specially on financial state.
This is why people would really be having that kind of last resort on which taking up some loan or would really be having that kind of immediate step on where they would really be that making sacrifices just for them
to be able to deal up with something which they do see that they have the chance on having that progress but of course some of them end up positively and some would be negative.

We wouldn't know unless we do try and this is the principle of other people when it comes to this kind of approach. Some cant really just that afford on taking up the risks but there are ones who are really that
taking up such step because they do know about the opportunity or chances that they do have.In trading then it would neither be on your time or finances on where you would really be that making such
step whether you would be taking up a loan or would really be sacrificing other priorities just for the sake of it.

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Quote from: Stedsm on June 02, 2023, 04:31:55 PM

It takes a lot of time to become a successful trader, and that's what most of us here would have sacrificed.
About money, I didn't go that way till I believed that I'm ready enough to trade real funds, that's when I trained my mind as well as my psychology a lot about the risk management and various other aspects through which I learnt trading. I never went to trade huge lots even after knowing that it was a demo account, that's because I wanted to prepare for real world trading and if I can do that, anybody here can do that.
The most important thing here is to achieve consistency which is why we need to give trading a lot of time, and also follow some successful personalities because the vibe that comes from them increases our faith that one day, we will also be one of them. Wink

Making some sacrifices in trading are not new anymore. People take some loans and even sell their assets so they can start trading at a good amount. While professional traders might be confident from doing this, but for beginners they are not advisable to risk these types of sacrifices. Most likely, they are more susceptible to losses so they should always trade at a minimal amount. Good thing for me, I was not able to take loans or sell something important for me in order to trade. I just reserve some funds from my salary and start trading when I know I have earned enough guts to trade. And as expected, I kept on losing at first but have overcome them when I’ve gained personal skills and strategies in trading.

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The people who had ready to hold after the pump of 20k dollars had a chance to earn more from it.Because the price of bitcoin had reached 68k dollars,which is all time high.Some are satisfied with the 20k dollars and earn only few dollars as profit,the next one had earned three times of the first one.The holding of bitcoin is essential one,because anytime the price of bitcoin will crossed the 68k dollars again.You should had the habit of holding at the emergency situation too.Because many panic sellers will lose their money by selling at minimum pump of the price as compared to his buying price.

Stedsm

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It takes a lot of time to become a successful trader, and that's what most of us here would have sacrificed.
About money, I didn't go that way till I believed that I'm ready enough to trade real funds, that's when I trained my mind as well as my psychology a lot about the risk management and various other aspects through which I learnt trading. I never went to trade huge lots even after knowing that it was a demo account, that's because I wanted to prepare for real world trading and if I can do that, anybody here can do that.
The most important thing here is to achieve consistency which is why we need to give trading a lot of time, and also follow some successful personalities because the vibe that comes from them increases our faith that one day, we will also be one of them. Wink

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Quote from: mvdheuvel1983 on May 30, 2023, 10:53:35 AM

If you have been full-time into trading for one to three years, what has been the greatest sacrifice you've made to become a successful trader? And did it pay off?

Someone I know who a seven-figure trader is now made the sacrifice of moving into a shared apartment with a friend just to save money. Another person, who had previously started a logistics company, sold off his trucks and used the money for trading. Another person had to pay to be mentored. He did this because the mentor said people do not appreciate free things, and if he were not making the sacrifice of paying out of pocket, he probably would not be serious and would take it for granted. These people cited in here went on to become successful traders. It paid off.

There are certain risks and sacrifices that you have to deal with if your aim is to gain life changing profits in the future. And yes, anyone can do that but know that for some, no matter how they tried in trading, it’s just that they are not good enough, instead they keep on losing their funds than to gain significant profits. However, trading for me is only a side hustle so it’s okay for me if I only gained small profits as long as they are happening consistently. And most important is, my losses do not exceed my profits and that keeps me motivating to improve my trading as much as possible.

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To become a successful trader, there must be sacrifices; if he is serious, he will definitely be successful and all his sacrifices will pay off. He just has to be patient and go through everything because it's a process he has to go through. We all sacrifice something of ourselves to achieve our goals, so we must give up something to get something else. And indeed, it will never be easy because we have to leave something that we might care about but it won't last forever because if we have achieved our goal, that's when everything will pay off. But indeed, we cannot get what we have sacrificed before because that is the price we must pay to achieve our goals. Now it's up to us to decide whether we can do it or we are going to stay like this.

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Quote from: mvdheuvel1983 on May 30, 2023, 10:53:35 AM

If you have been full-time into trading for one to three years, what has been the greatest sacrifice you've made to become a successful trader? And did it pay off?

I've never been a full-time trader, so all my trades were carried out on the sidelines of my main job, from starting to learn the basics to starting capital using the money from my main job, and right now I can't say I'm a successful trader, but at least what time has been sacrificed and the money has been paid in full.
The biggest sacrifice I've ever made was following paid signals, saying it's the biggest because it's stupid enough to believe such a thing, and the reason at that time was because I didn't have enough time to analyze the market and thought it would lighten the burden a bit on trading decisions, but to be honest it didn't gave impressive results, I can even say that paid signal owners only use other ways to be able to get money apart from trading because they understand that trading will not always be profitable, but having a channel with paid signals gets guaranteed income every month.

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Selling ever single satoshi I have during 2017 when it hit 19k. I knew that it would slow down but I didn't know when it would happen, but I sold everything I had in the whole of crypto world at the peak of that time, was a great decision. I didn't really made all that much great decisions after that, I have lost some and made some, I have been doing alright overall, but nothing has ever come close to that. It was the peak point, probably just a few days after I got out, the bear run started and everyone started to lose money. It was definitely a great decision to do that. I hope that there are a lot of decisions like that coming my way in the future as well, it definitely feels great when it happens and you feel amazing when you know that you are right, I would love to see that during the next bull run as well.

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Quote from: mvdheuvel1983 on May 30, 2023, 10:53:35 AM

If you have been full-time into trading for one to three years, what has been the greatest sacrifice you've made to become a successful trader? And did it pay off?

^ I have sacrificed many things before when I was in trading but I did not remember I become a successful trader.
Yes, that is right, I am taking a loan because of lack of capital, selling my holding coin just hoping it will double when I was in trading but it ends up all in a bad nightmare, all my savings are gone and I was not able to recover it until such day come I realized to cut my lose and accept the fact that I will not recover it and move on. Not all sacrifices made us successful, should learn how to weight the risk and manage it.

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Quote from: mvdheuvel1983 on May 30, 2023, 10:53:35 AM

If you have been full-time into trading for one to three years, what has been the greatest sacrifice you've made to become a successful trader? And did it pay off?

Someone I know who a seven-figure trader is now made the sacrifice of moving into a shared apartment with a friend just to save money. Another person, who had previously started a logistics company, sold off his trucks and used the money for trading. Another person had to pay to be mentored. He did this because the mentor said people do not appreciate free things, and if he were not making the sacrifice of paying out of pocket, he probably would not be serious and would take it for granted. These people cited in here went on to become successful traders. It paid off.

I have not really made significant trading sacrifice in my whole life since I only trade with a minimal amount. So I lose a little and just gain a little, maybe because I’m not a full time trader in the previous years until at the present time. And even if I’ll become one in the future, I think I would never end up sacrificing my assets or property because I know how risky trading is. It can give you exceptional profits but it can also suck your life in an instant.

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Quote from: Franctoshi on May 31, 2023, 03:30:36 PM

During my days in the University I and one of my close confidant use to squeeze out money to go from one Forex seminar to the other, where we did pay huge some amount of money to underwent those trainings and take lectures on currency market because crypto trading was at its early beginning and forex trading was not that popular in my country side as at then when compared with the rate now, so trainers was charging big money.

I was so passion about leaning and earning money from the financial markets and I dedicated a lot of time even to an extent we both had to join money together and I will attend the seminar, after which I will teach my friend instead of we both to miss out.
Burned a lot of Data at night watching tutorial videos and taking online courses as well , which at the end has helped me become what I'm today when it comes to trading.

Wow, but based on the recent stuff I learned, I read that in the past forex brokers were not trading cryptocurrencies unless just foreign currency pairs like ERU/USD, but now they have most cryptocurrencies that are very volatile on the forex trading brokers. I don't know how true that is, but someone who is enlightened about it should illuminate me, please.

You really sacrifice effort for trading, and I'm happy if it's paying you off now because when you mentioned that you watched some videos online and did some online courses for trading back then, I really don't know how long it has been since you didn't mention it, but I must say that some countless videos and trading materials online are just not worth spending time on to study because the majority of them now on the internet are just palter-babbles. You spend time learning a lot of those trading classes, you try exactly what you have learned, and you don't see any good results. That's what it is now.

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Quote from: mvdheuvel1983 on May 30, 2023, 10:53:35 AM

If you have been full-time into trading for one to three years, what has been the greatest sacrifice you've made to become a successful trader? And did it pay off?

None of that.

It does not need a "sacrifice" (sounds like a ritual, if you ask me Cool

) What is needed is a source of money for the capital and that is what the OP has cited in their post. However one can just start from their own salary if they are willing to, of course a bigger capital at start means a bigger profit on the first trade, if they manage to. But even then capital is just a number, skills matter and of course some luck.

You could say that most of us here have once a while lost money what we traditionally call "tuition fees" to trading.

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Maybe the biggest sacrifice we have made has been in terms of time because, in those three years, we would have spent more time trading and forgot about other things. Maybe that's okay for us, but it's worth it for others because we've spent time with them.

I think that's normal because in achieving the goals we want, we have to give up and sacrifice something to get it. For example, if someone wants money, he has to work in an office or as a freelancer. And he has to give up his time to work hard to have money while leaving his family at home to have money later.

We all go through pretty much the same thing. But we shouldn't complain because that's what we have to do. And we must be able to appreciate it so that what we do can be used or beneficial to the people around us. There may also be people like @OP pointed out.

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Quote from: mvdheuvel1983 on May 30, 2023, 10:53:35 AM

If you have been full-time into trading for one to three years

I once became an active trader but it didn't work for me well. That's why instead of being active in trading, I did my own way of trading on and off, and that worked for me best.

Quote from: mvdheuvel1983 on May 30, 2023, 10:53:35 AM

what has been the greatest sacrifice you've made to become a successful trader? And did it pay off?

It's sad to remember that I've sold bitcoins that I've held before. I'm not a successful trader but I can say that it did paid me off the least. Made profits and mostly made a lot of lessons from those sell-offs that I've made. It was truly a sacrifice in a market that no one has taught me how to deal with.

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Quote from: GreatArkansas on May 31, 2023, 01:44:10 AM

Someone I know was able to achieve a lot of things, he literally become financially independent after he left his full-time job, and he already bought his own car. He is my close friend and I was also the person who introduced him to cryptocurrency, I am happy for him. Because he doesn't need to work 8 hours a day, and he got a lot of time.
That's why he becomes a full-time trader.

And what is his sacrifice? A very beautiful and unique story Cheesy

. I think that before he became successful, he lost a lot of strength and nerves.
Seeing how the psychological health of my friends who are just trying to trade is changing, I think that I am not ready for such a sacrifice. I'd rather sleep well than twitch with every up and down of the market and turn into a neurotic. I know one thing: trading is not for everyone, so I look with regret at friends who have not yet understood this.

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Quote from: mvdheuvel1983 on May 30, 2023, 10:53:35 AM

If you have been full-time into trading for one to three years, what has been the greatest sacrifice you've made to become a successful trader? And did it pay off?

Someone I know who a seven-figure trader is now made the sacrifice of moving into a shared apartment with a friend just to save money. Another person, who had previously started a logistics company, sold off his trucks and used the money for trading. Another person had to pay to be mentored. He did this because the mentor said people do not appreciate free things, and if he were not making the sacrifice of paying out of pocket, he probably would not be serious and would take it for granted. These people cited in here went on to become successful traders. It paid off.

Crazy story about selling your company just to have money to use in his trade, I don't know what that guy think since maybe he just been hook up for the idea that there's a quick income or more bigger than can he possibly generate than his company. Hope he didn't regret his decision since there's no way he can own back that company which can give him more sustainable income.

My only sacrifices which I can afford is to spend a little portion of my salary on trading since I can't afford to extend more since I know the risk and hard to lose all of it and get broke for weeks or months.

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Quote from: yudi09 on June 01, 2023, 03:21:24 AM

Quote from: mvdheuvel1983 on May 30, 2023, 10:53:35 AM

If you have been full-time into trading for one to three years, what has been the greatest sacrifice you've made to become a successful trader? And did it pay off?

Too much time was wasted if I chose to trade full time because trading is a fun job to do from the first time I got involved until now I prefer medium to long term.

As long as I carry out trading activities, I have never sacrificed valuables to make capital in trading.
I only buy based on my financial ability when other needs have been met and my buying process is well managed regularly and occasionally watching market price developments.

Making trades every day and having to control them all the time is not my kind of thing.

What you have done in trading I think is correct because basically we shouldn't force our abilities,
wise in trading is very important to minimize risk,
don't let us trade with greed because it will only make us lose.

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Quote from: mvdheuvel1983 on May 30, 2023, 10:53:35 AM

If you have been full-time into trading for one to three years, what has been the greatest sacrifice you've made to become a successful trader? And did it pay off?

Too much time was wasted if I chose to trade full time because trading is a fun job to do from the first time I got involved until now I prefer medium to long term.

As long as I carry out trading activities, I have never sacrificed valuables to make capital in trading.
I only buy based on my financial ability when other needs have been met and my buying process is well managed regularly and occasionally watching market price developments.

Making trades every day and having to control them all the time is not my kind of thing.

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Quote from: mvdheuvel1983 on May 30, 2023, 10:53:35 AM

If you have been full-time into trading for one to three years, what has been the greatest sacrifice you've made to become a successful trader? And did it pay off?

Someone I know who a seven-figure trader is now made the sacrifice of moving into a shared apartment with a friend just to save money. Another person, who had previously started a logistics company, sold off his trucks and used the money for trading. Another person had to pay to be mentored. He did this because the mentor said people do not appreciate free things, and if he were not making the sacrifice of paying out of pocket, he probably would not be serious and would take it for granted. These people cited in here went on to become successful traders. It paid off.

Two basic things I sacrificed were my time and money. As a young man growing with little or no funds, I took my time especially in day trading to understand some of the basic principles of trading in Bitcoin and that alone took my hobbies, socializing and other past time activities away just for me to focus on trading.

Secondly, it is money. The fact that I was a low income earner, I took the bold step to invest substantial amount of funds in the system and trade with it. It was a time for me to take risks which I was ready for and certainly I got losses but learnt through the process.

Topic: What is the most significant trading sacrifice you believe you have made? - page 3. (Read 627 times)