Re: What's the Most Delusional Belief You Held When You First Started Trading?
That I could quit my job and become a professional day-trader within two years with a small amount of starting capital.
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I later learned that I was a mere statistic. A mere part of the 90% that WILL lose money in "trading" because, how could pelbs like us truly outperform those professional traders who have more skills, more capital, and their army of trading bots.
I discourage everyone from "trading", I encourage everyone to merely Buy the Bitcoin DIP, and HODL. But if you want to try it, OK.
TBH, at some point in my trading journey, I also thought of quitting my job because I'm winning consecutive times in trading. Good thing that I didn't because a few weeks after constant profits are losses here and there. ---
I later learned that I was a mere statistic. A mere part of the 90% that WILL lose money in "trading" because, how could pelbs like us truly outperform those professional traders who have more skills, more capital, and their army of trading bots.
I discourage everyone from "trading", I encourage everyone to merely Buy the Bitcoin DIP, and HODL. But if you want to try it, OK.
Every trader are thinking unrealistic things if they want to be a successful trader. On average, those who're constantly trading for 5 years have almost 95% chance of being a successful one. Of course, there are some factors to it, but that's the average. Now it doesn't mean that if you're trading for 5 years, there's a certainty that you will be a successful one.
It's just sad to see that 9 out of 10 traders are ending up losing money, and their losses are going to those 10% of the traders, but that's how brutal the trading world is. If you aren't ready to take losses, I hope that you will follow what he said. I disagree though with discouraging everybody from trading, but I would encourage them to experience it, and from there, let them decide if they will continue or not.