Topic: What is the most significant trading sacrifice you believe you have made? - page 4. (Read 642 times)

Well, I'm not into full-time trading so I basically didn't make any sacrifices of that nature, though I've always wanted to become a full-time trader so that I can have financial freedom and have more time to spend with my family and friends, I barely have anything worth enough that I can sell off so that I can have a good enough trading capital to start with.

I believe hard work and determination can make anyone become successful in the long run, one should never give up even if it takes time because the success that has been gained quickly tends to vanish quickly as well but when you've worked hard for it, it tends to stay forever.

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.

My Experience selling something to use that money in trading is the foolish idea and it should be avoided. I think the most important sacrifices is to spend your precious time for trading and those who spend lots of time for trading are more successful because they learn more about it.

Sacrificing for success is not a bad thing but selling your daily life's materials are a bad idea because you will get rid of necessary things of life as well as money and you will also be disappointed by experience this fact.

I have sacrificed a lot of time to try making my trading better, I have sacrificed time that I should have used for other things like even sleeping but used it in watching more videos online. At some point I offered someone who knew better than me in trading with more experience some money to show me some tips because I noticed that he was not willing to tell me for free. These are a few sacrifices that I have made and even though they do not sound very significant to what other people may say, they helped me become better trading the times I traded.

Each sacrifice differs according to the financial situation of the individual and the society in which he lives. In one country, owning a car is considered a luxury that you can sell when you need money, and in other countries, you cannot move around without the car, so it is necessary. You will not get a typical answer, but each individual will tell his personal story, and its outcome will be:

• Spend less, and stay away from unnecessary things.
• Start saving in your time, in your expenses and avoid any behavior that leads you to more spending.
• Think and learn how to invest your money, the more you know, the more you build a clear goal and the easier it will be for you to achieve your ultimate goal.
• Dream and keep dreaming. If your dream is a car, dream that you are driving it and it will come true.

You will tell your experience in the end and it will be unique.

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.

I haven’t made any serious sacrifices just because I want to trade, the only sacrifice I can say I made is reducing the way I spend so that I will be able to accumulate enough money to trade with some and to use some to accumulate bitcoin for future purpose, that’s the only sacrifice I can say I make so that I will be able to trade.

Because we want to trade those not mean we should sell properties, am not always in support of selling properties just because you want to start trading, the best thing I do encourage people to do is to trade with any amount they can afford to lose. If you sell your house because you want to trade, if the trade goes against you and you lose money, then you will have to become homeless, I don’t really think any professional trader will encourage anyone to sell their properties because they want to trade. The best thing we can do is to increase the way you work so that your income can increase and you will be able to save money and start trading, but I don’t support selling of properties.

Hmmm, None .

I don't need to sell other things that I have just to have money to trade. I don't want to risk it, sell those important things that I obviously need for something that is very risky, has a high chance of losing money especially if you don't know what you are doing, and has a potential to change your life negatively. I prefer a lesser stressful route, and that is to focus on building a base for the long term thru long term investing. I'm purely investing on long term coins.

I know that there are some people out there who can sacrifice what they have for trading. Some of them went on to become successful traders like the one OP has shared to us, while there are some who sacrificed whatever they need to sacrifice, sold all of their belongings only to end up losing money which is quite unfortunate for them.

Well, I guess I'm lucky that I didn't quit my job for trading because I would be doomed if I did that.

That's right, because if there were guarantees, of course there would have been many merchants who had become rich,
and in reality it doesn't happen so every trader needs to learn because knowledge and skills will help in trading,
besides that there is still a lot for us to learn and still enjoy the process.

Trading is probability, there is no guarantee that no matter how much money you sacrifice, you will reap good returns. Indeed there are some people who will study seriously if they get a personal mentor (paid), but it comes back to one's ability to develop themselves. There are some successful traders who in fact only get free trading courses from the internet.

I didn't experience this because I didn't push my trading activity but instead, I'd go for investing for long-term purposes.
I didn't also see someone get successful in trading, usually, they've encountered many losses and difficulties in trading, and the reason no one gets successful.

Selling off assets like trucks, houses, or more worst land to fund trading can be a risky decision but may provide the necessary capital to start or expand a trading venture.  It shows a willingness to take calculated risks and prioritize trading over other endeavors.
That's the real sacrifice which I think is not good to hear.

I gave up my job and my education for Bitcoin at the time. I did it because I saw that bitcoin trading has the ability to make you wealthy. I joined the mentorship program because I wanted to be successful in trading, but it didn't work in my first attempt, so I stopped to relieve stress. And after a few months, I returned to trading and joined another mentorship program, since I believe that trading is the best method to get wealthy in the future, as opposed to working for someone else and not being able to do what you want. Fortunately, I learned a lot and am gradually progressing and recouping my trading losses.

Sacrificing something just to make you anle trade is a bit questionable act because trasing especially crypto involved a lot of risk due to the crypto volatility. I can’t picture out how the guy that owns a logistic company sold his truck for trading while it's the main tool for his business running. Why not use some part of his company profit on trading rather than selling valuable asset just to put the money on risky investment.

I will understand if the sacrifice involves savings from cutting expenses but selling valuable asset that provides profit is an ass way of getting more losses since that person will chase profit just to recover immediately his loss on selling his property that generates income.

Honestly, None of them.
In the past, I often thought that after getting profits several times with the trading strategy that I applied, I thought it was the most suitable and good trading strategy, but after that, it didn't work anymore. And so on. Maybe it's not the trading strategy's fault, but rather how I manage it to be more consistent in getting profits. On the other hand, the trading strategy should also be successful in all kinds of markets, both ups and downs, and even in uncertain market conditions. By doing a few tricks so that the trading strategy can still run well. But unfortunately, for me, who really lacked the ability to teach and didn't want to learn more, this didn't work, and even went further than what was said to be successful. ha ha ha

Trading couldnt really be giving out an assurance that it would be something that will really be your main source of income but its true that there are people who are really able to achieve this kind of point or certain
condition on which they are really that sustainable and able to survive this unpredictable and very volatile market. If we do speak about the chances or how many full time traders then no one really knows but for sure they are really those individuals who do really make a living out of these market movements. Even myself do consider out an old time trader but im not really that still confident on making it as a full time thing.
I couldnt really be that too confident on leaving my day job for trading but i do find myself on making profits at least but there are really moments or really those days on which i do really experience up some losses
which im not really that much confident on making up some decision. Of course there would really be those sacrifices on which a certain trader would have done before they do get into that point.
It would really be t hat situational.

The sacrifice I have really made for trading is the time I have devoted to learning both online and offline. I downloaded quite a lot of videos on YouTube to minimize my data usage when I wanted to watch them, and I spent sleepless nights watching those videos and practicing trading terms. The worst of all is not knowing how to study the forming candle or price chart. I was seriously engaged then on a daily basis, and my only free time was at night, so I used those nights to learn about trading, but all the time and effort I exerted then into trading never paid off to half of my stress, but although I just thank God for those things, at least I am not a newbie, so even if I want to start trading again, which I am considering, I wouldn't find some things so very difficult like a real beginner.

Besides time and money, what else do you think?
My losses on trades sometimes don't pay off immediately in the trade itself, but tend to be paid off by my investment. This is a fact that I feel so far even though in fact I also make profits in trading. My days don't trade much so that in the end, I tend to focus on investing instead of a short-term return plan.


No, I will not sell anything to trade crypto including cars, houses or anything else that has value. I'm trading from my saved budget within a certain limit, so it's not too risky for me in case I don't manage to get a return. Obviously there are a lot of risks to consider, so selling anything to trade is not the best recommendation in my opinion.

I would imagine, what if they don't succeed and all of their trading budgets are lost due to price volatility or something else?

No all such "sacrifices" pay off though especially that part of selling off property or trucks in order to trade.

I do have a friend who sold off his good business to get into crypto trading just because he was convinced by a friend that he can make a shit ton of money. Unfortunately he went all in on Terra Luna shortly before the crash and kept the coins in an external wallet. I think you guess is as good as mine on what happened next. Stressed and depressed, his life has never been the same again.

Leaving the trading is the most significant sacrifice i have made in my journey. I step into trading with no knowledge, i merely understand technical analysis and i had no grip on fundamental analysis too. So, in frustration of losing money (which i had it all like i was trading with money which if gone, then i could be broke) i left trading back in a year and focused on earning it by providing my skills and services and i am happy on that decision that i found some ways.

To be very honest, my reply might not be in accordance with your question's context but i think it is. As, sacrifice is necessary, for example back then i was involved in future trading but due to some religious beliefs i can not perform future trading so i moved to spot trading but it needs a huge capital so after realizing this fact i left it too.

You have pointed out a great sacrifice because observing the market even when you are at a family gathering, or at a picnic, or at any function i.e marriage, etc. you have to keep checking the phone and have to remain prepared to take action according to the market changes which no doubt changes every trader's lifestyle. But at the other hand, i have seen few people in my friend and university zone have managed to schedule or live their life in such a way that no one can assume them to be a trader. Like in 2022, i was at a university campaign and i had to go village to village and i was an early learner at that time so, during the campaign i took small entries and spent most of my time on watching the market even though i can't understand what it means and what impact does it make but still, i was reading any news comes in front of me. In my group there was another trader of which i knew not as if he acted like one then i might predict at least of him a trader but in 2023 i came to know that he is a pro trader as he started some classes related to trading. And then i embarrassed myself too like i was acting it like a pro thing in front of an expert trader while i have no expertise. (haha) well from then i manage to understand that live a life that no one can predict you as a trader.

Fun fact: you can be a trader and still have a mentally-healthy lifestyle. I pretty much trade for a living but still have healthy relationships through my SO, family, and friends. Especially that I do get burned out easily by looking at my screen all day, I frequently go out at night.