Quote from: fiulpro on May 24, 2020, 07:31:59 PM

Quote from: Gafman on April 21, 2020, 09:49:26 PM

I have been reading a lot of articles on the forum and i have to say a lot of people are already giving up on trading due to some minor/major setbacks.

I write this article today to explain some few reasons why i think people are not really comfortable with the trading environment.
1. Lack Of Proper Trading Education
A wise man once said " Lack of education causes lack of progress which in turn causes lack of motivation". Most new traders have a common believe that the trading market is a Fast Money Producing market which is very wrong. Instead of learning the basics of trading and develop a reliable trading skill they settle for Signal groups or end up investing in a scam so called (money multipler groups).

2. No Risk Management
I am a victim of "No Risk Mangement". In my earlier days of trading, i always try to maximize profits neglecting the probability of the loss if a trading day/week doesn't go my way. The market is becoming unpredictable day by day, therefore traders new or experienced need to have a proper risk management regardless of your analysis of the market. I personally enter a position with 3 -- 5% risk of my total equity.

3. Lack Of Patience
The trading market is not always green or red, it's unpredictable as i mentioned earlier so there will be good and bad days for a constant trader. The aim of all traders is to at least 10X their loss in profits but if this is not the same for you, you need to be really patient with the market and try and go through your analysis and strategies all over again. Sometimes it might even require you changing the pairs you trade.

Additional information and advices would be appreciated. Thank You, Stay Home, Stay Safe.

Apparently most of the people I do think are :-

Scared to loose money
Cannot invest much time

I do think in trading one needs a lot of time and ofcourse , even a single mistake can cost you a lot .
It is really hard sometimes to keep track of the market , the prices changes every second and therefore most people unfortunately have that negative feeling that they won't be able to perform better . At the same time their past mistakes makes them really think about doing it again .

Contrary to popular belief I do think trading is actually not about luck , but rather it's Time , Investment, Strategy . It is an art , the person who knows how to do it can actually become rich in a matter of days I would say .

You just said what I'm about to say lol. Most of people who quit trading because they thought the cryptocurrency market is so easy to earn money. They just throw their money to the market without understanding how the market works. Therefore, it brought losses that they are so afraid of. They want to earn profit but don't want to invest their time in studying and learning any basic knowledge. Hence, they thought cryptocurrency is nothing but gambling. Therefore, they quit!