Quote from: Lakai01 on July 13, 2021, 07:03:34 AM

Quote from: CryptopreneurBrainboss on July 11, 2021, 11:56:11 AM

Traders this days hardly even have their own opinion to depend on as they prefer relying on others (signal providers) to trade. They don't even have the patience to learn the skills before wanting to earn, what makes you think they'll have the patience to wait on the market for confirmation.

The problem is that many people simply follow well-known traders on Twitter and they naturally brag about their profits, making you think "I can do that too, I just have to sell higher than I bought".

So these people are very much after the "quick money", which simply does not exist - apart from extremely lucky people of course. Well-known traders have usually had to gain years of experience and pay a lot of money until they were finally able to make a profit. In order to be successful in something you simply have to invest time and not believe that you just have to subscribe to a signal service and you are a millionaire in no time. But with this mindset, especially newcomers very often approach and then of course immediately go crazy as soon as a trade goes wrong or the market as a whole turns.

Those are the two main problems with most people that want to become traders, they are not only greedy which is not as bad by itself but when you pair this with laziness this is an awful combination.

They want to become rich with trading but at the same time they do not want to make the effort to understand the markets, after all what can be so hard about buying an asset for cheap and then sell it for an even more expensive price? In their minds this should be the easiest thing on the world, not realizing that it is probably one of the hardest as everyone wants to do exactly the same making the markets extremely competitive.