I see a lot of traders who fail in this field, because they do not have patience and consistency in learning, that they are successful traders who study for more than a year or even two years so that they can have the ability to analyze the market and can have their own methods in making profits from trading.
Many who have just learned one month to one semester they give up and no longer want to trade, please note that naturally fruitful trees are trees that grow with a long period of time so that they can bear heavy fruit and can provide benefits for both the owner or others.
Don't give up quickly in trading, there are many mistakes that you have to take lessons from, walk slowly and with principles in trading with risk management that you can control and not overdo it so that you can take advantage for yourself.
Focus, be consistent, learn from your mistakes and think that building an empire takes time.
What are your additions to understanding the learning time for someone who is learning to trade? I think sharing here will benefit those who may be close to giving up in this field.
Many who have just learned one month to one semester they give up and no longer want to trade, please note that naturally fruitful trees are trees that grow with a long period of time so that they can bear heavy fruit and can provide benefits for both the owner or others.
Don't give up quickly in trading, there are many mistakes that you have to take lessons from, walk slowly and with principles in trading with risk management that you can control and not overdo it so that you can take advantage for yourself.
Focus, be consistent, learn from your mistakes and think that building an empire takes time.
What are your additions to understanding the learning time for someone who is learning to trade? I think sharing here will benefit those who may be close to giving up in this field.
There are a lot of reasons or factors that lead to failing as a trader which some of them are very detrimental than the other and they contribute heavily to the failing as a crypto trader.
1-Lack of proper knowledge about how the market work (Technically know-how): Most of newbie comes with the mindset of making fast money abandon the actual process of learning how the market work first before capitalizing maybe due to the fact that they have been blindfolded with the profit others are making from it without them realizing a lot of effort have been put in place to achieved this consistency. Trading is not get rich quick scheme it a gradual process even if you become profitable you have to be graduating from making a $50 to $100 and to $1000 you can't cheat the process.
2- Discipline: A lack of discipline as alot of detriments among them are deviation from path to success and achievement due to unable to be persistent about someone's goal and this making it harder to overcome obstacles and resist distractions and temptation. Been discipline is one of the most hardest thing to do and spontaneously maintain in trading we can just manage to be disciplined but we can't totally beat it down, we are human prone to errors and mistakes in terms of trading, state and define your goals and follow it religiously.
3- Risk management: state and define your goals in monetary terms know your risk appetite don't enter trade blindly define how much you are willing to lose.
4- Trade management: define your entrying and exit point in market don't mismanage a winning trade to a lossing one.
5- Psychology: have a balance emotion when trading and for you to have a balance emotion while trading you have to consistently put the above mentioned into practice so well.
Going back into the topic in speaking about failing in trading then it would be normal that there would really be failures yet we cant really be that a perfect trader on whose do have that kind of approach that having that profitable trades all the time. We should bare up in our minds that this cant really be that possible and it would never been that good to have those assumptions that trading is really that easy.