Quote from: DannyKhalifa on May 15, 2025, 08:41:43 AM

Quote from: Barikui1 on January 20, 2024, 07:32:06 AM

Trading is not a get rich quick scheme as most newbie think, it's more difficult that we all can imagine, but their is always a way to navigate your way in trading so as to come out profitable.
The main reason why most trader fail in trading is that they are not trained in the craft, most experience traders as they call their self don't even know how to identify the least support and resistance, talkless of knowing how to react when they see some certain chart pattern or candle stick pattern.
The skills I believe that are required to come out profitable in trading are;

* Knowledge: know the craft, know what you are doing, don't trade on assumption.

* Know how to control your emotions: it's very important that you know how to control your emotions like fear and greed in trading.

* Know how to manage your risk: knowledge and emotional control gives you money, but proper risk management skill protect your money and your gains

most mistakes of traders are;

* Thinking it's a get rich quick scheme or thinking that it's easy.

* Having no proper training in the craft to attain knowledge about it.

* Watching one two or three video's on YouTube by one YouTube influencer and think they are ready for it or thinking they have known the craft.

* Having no experience traders that is good in the craft to guide them.

I will highly agree with the OP. Whoever gets in trading to make "easy gains" usually is the one that gives away his money. The bullet points are so right, it's impossible to profit over the long term if you literally do not have experience in this game and know your emotions, or better you know what your emotions lead to.
It is one of the most difficult things to do, because you don't get to be right or wrong, you either loose money or win money so if you are wrong, it's not like nothing happens, you loose money and that can't go endless, you can't repeat the same mistakes otherwise it's like paying for the same lessons all over again. I am trading full time for the last 7 years and I understood that there's no way to gamble in this industry, you'll get used to gambling and never really be profitable.
Test your strategy with demo money, don't dive in if you don't know what you're doing because you'll end up losing most of it!

When we are still a noob or someone whose new into this field then we do usually think up this way on which we do have this kind of mentality that trading is something that would be that so easy to learn up or something that would be that easy to grasps on until that reality would be slapping into your face then this is where you would be having that realization that it was never been that easy at all. Usually people do find out when they have already that losing up tons of money because they were trying out to make things happen in whats into their mind on which this will be pertaining about making some profitable trades. If you do treat up trading just like some sort of gambling then you do just basically doing gambling literally because you would be needing up some analysis and skills in order to find yourself that being effective towards dealing with the market. Although there's no assurance when it comes into this aspect but at least you are doing on dealing with it on the right way.

Failing or mistakes are normal since there's no such thing about being perfect trader. We are all pass through challenges and failures or mistakes but if we do took up the general sense then its something inevitable and to think that these mistakes will definitely be your stepping stones to become that more better and more that have the knowledge and skills on which it makes you that able to sustain this volatile and unpredictable space. There's no way that you could be able to find yourself that achieving up this skills on an easy way on which its not something that will be a smooth sail ride on acquiring up such skills. You would pass through tons of challenges or even having that tons of losing money condition on which you would be needing up to minimize those overtime as you do gain up such knowledge. It will really be that up to you on how you do deal up with things accordingly.