Quote from: Fredomago on Today at 07:56:11 PM

Quote from: irhact on October 05, 2024, 11:29:57 PM

Not having the right psychological mindset is going to set you back as you want to become a trader some individual fail to see trading as a serious business that need lots of attention. Some individual see trading as gambling and they just make their bet on trades then hope that it is going to give them profits. Majority of the traders are in loses as they think they don't need to learn how to trade before they can begin. Day trading can work for some traders but it won't work for everybody as not everybody can be mentally strong to trade again without emotions after losing the previous day. Long term trading is a little bit like investment therefore this has to favour more individuals to make profits.

Yeah and that's not a small numbers of people who take trading in same way they are treating gambling, thinking that by luck they'll be able to manifest and earn decently.

Without doing your DYOR and taking time to learn deeper it would be a hard journey to you, there are instances that you will mistaknely anticipate the outcome but if you use that experienced a learning steps , you'll be able to adopt and sooner or later you'll be able to decide whether to take a certain asset for short term trade or for long term trade,.

Trading that is done like gambling is usually or most likely done by traders who do not have the right knowledge about what and how the world of trading really is, as you said that they only rely on luck in seeking profit, meaning that it is clear that they do not know that in trading the opportunity for profit always depends on how much knowledge you have and how skilled you are in executing the market.

On the other hand, as we know, it is not uncommon to see traders who end up failing in the sense that their involvement in the world of trading actually makes them lose a lot of money instead of making money, and most likely they are traders who treat trading like gambling because they do not want to learn various knowledge about trading or maybe even because they do not know that the opportunity for profit always depends on skill.