The basics of profit in trading

[Baoo]

Hello, some believe that  trading is an easy field to make a huge profit, but when they start in it,  all their previous views change, especially when they lose their money in the beginning.

For me, according to my experience in trading,  before starting in this field you must learn and understand the basics, they will be as the following :

1- You must learn how to read the market smartly:
Maybe you need books ( like, cryptocurrency the trading bible..) to learn more about cryptocurrencies ,   you should also learn how to analyze the different situations ( dump and pump..).

Be careful: Do not trust in the news by the media, because they  are always manipulating the traders through some fake expectations.

Important information: When you read one book  in every month, then after 2 years you will be in the TOP 10 of the most successful man/woman in that field.

2- Strategies and tactics:
You must deal with situations through strategies  and tactics ( Plan A, Plan B) .
"Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat "                  
                                                                                                                                                              - Sun Tzu

3- Take the risk:
In my opinion, the risk is essential to every big profit, and trust me, when you  play it always safe,  then you will earn a  little money in trading.

4- Be patient:
 You must to control yourself, and be patient, especially in difficult situations like, big crash.
"Patience is the key of success ".

Good luck to evey trader    .

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[player514]

Hello, some believe that  trading is an easy field to make a huge profit, but when they start in it,  all their previous views change, especially when they lose their money in the beginning.

For me, according to my experience in trading,  before starting in this field you must learn and understand the basics, they will be as the following :

1- You must learn how to read the market smartly:
Maybe you need books ( like, cryptocurrency the trading bible..) to learn more about that field,   you should also learn how to analyze the different situations ( dump and pump..).

Be careful: Do not trust in the news by the media, because they  are always manipulating the traders through some fake expectations.

Important information: When you read one book  in every month, then after 2 years you will be in the TOP 10 of the most successful man/woman in that field.

2- Strategies and tactics:
You must deal with situations through strategies  and tactics ( Plan A, Plan B) .
"Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat "                 
                                                                                                                                                              - Sun Tzu

3- Take the risk:
In my opinion, the risk is essential to every big profit, and trust me, when you  play it always safe,  then you will earn a  little money in trading.

4- Be patient:
 You must to control yourself, and be patient, especially in difficult situations like, big crash.
"Patience is the key of success ".

Good luck to evey trader    .

You contradict your own statement in the 3rd point...

You say that risk is essential to big profit, and you say to take the risk in the title. But in the description, you talk about playing it safe and earning little money. That's a pure contradiction. You can't play it safe and take risks because risks are literally the opposite of safety. Also, if you live by your virtues in the "Important information" part, you should reconsider your thoughts. Reading a book on a topic is not enough no matter how much you read. There are some things that books can't predict, and I think crypto markets is one of them.

[buytheeffinD]

Hello, some believe that  trading is an easy field to make a huge profit, but when they start in it,  all their previous views change, especially when they lose their money in the beginning.

For me, according to my experience in trading,  before starting in this field you must learn and understand the basics, they will be as the following :

1- You must learn how to read the market smartly:
Maybe you need books ( like, cryptocurrency the trading bible..) to learn more about that field,   you should also learn how to analyze the different situations ( dump and pump..).

Be careful: Do not trust in the news by the media, because they  are always manipulating the traders through some fake expectations.

Important information: When you read one book  in every month, then after 2 years you will be in the TOP 10 of the most successful man/woman in that field.

2- Strategies and tactics:
You must deal with situations through strategies  and tactics ( Plan A, Plan B) .
"Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat "                 
                                                                                                                                                              - Sun Tzu

3- Take the risk:
In my opinion, the risk is essential to every big profit, and trust me, when you  play it always safe,  then you will earn a  little money in trading.

4- Be patient:
 You must to control yourself, and be patient, especially in difficult situations like, big crash.
"Patience is the key of success ".

Good luck to evey trader    .

You contradict your own statement in the 3rd point...

You say that risk is essential to big profit, and you say to take the risk in the title. But in the description, you talk about playing it safe and earning little money. That's a pure contradiction. You can't play it safe and take risks because risks are literally the opposite of safety. Also, if you live by your virtues in the "Important information" part, you should reconsider your thoughts. Reading a book on a topic is not enough no matter how much you read. There are some things that books can't predict, and I think crypto markets is one of them.

I don't see the contridication I believe you may have misinterpreted the way they were presenting their point. It seems to me they were saying risk is essential to profit and if you play it safe you can't earn much money. Those go hand in hand and are logically sound statements.

Statement 1: Risk is essential to "big profit" (subjective but okay)
Statement 2: Played safe you won't earn "big profit"

Seems to add up to me, but hey maybe my logic game is off right now.

[gawer33]

you forgot to take the risk but you should have risk management what the point of taking the risk if you don't have a plan in case the odds is against you.
it should be like this
1 trading goal
2 identifying market trends
3 diversify and portfolio management
4 trading strategy
5 risk management

if you master this 5 you will be successful even in bear markets

[Fazlurkhan.kz]

Indeed learning and researching about cryptocurrencies even before starting trading will be beneficial as during that time one will get sources which provide close predictions about the market, of course, no one can accurately predict what will happen to the market but there are some useful sources which are pretty good and a majority of the time predict right. That will help one make profits in trade and these sources would only be found with a lot of digging and researching.  Taking risks and being patient is the MUST for any trader.

[Pursuer]

[snip]
You contradict your own statement in the 3rd point...

You say that risk is essential to big profit, and you say to take the risk in the title. But in the description, you talk about playing it safe and earning little money. That's a pure contradiction. You can't play it safe and take risks because risks are literally the opposite of safety. Also, if you live by your virtues in the "Important information" part, you should reconsider your thoughts. Reading a book on a topic is not enough no matter how much you read. There are some things that books can't predict, and I think crypto markets is one of them.

playing it safe does not mean taking no risks. and taking risks is not contradicting any of the things OP said in my opinion.

the important thing about taking risks is about what kind of risks you are taking and how you are dealing with them and finally what kind of reward you are getting for that risk (risk/reward ratio for instance). in other words if we are talking about a gambling risks when they just invest in random coins and wish for profit then obviously that risk is not something that anyone shout take. but if the risk is a calculated one based on study and experience like investing in bitcoin for long term and buying it in a dip, then that risk is worth taking and that is also called playing safe.

[Kemarit]

Hello, some believe that  trading is an easy field to make a huge profit, but when they start in it,  all their previous views change, especially when they lose their money in the beginning.

For me, according to my experience in trading,  before starting in this field you must learn and understand the basics, they will be as the following :

1- You must learn how to read the market smartly:
Maybe you need books ( like, cryptocurrency the trading bible..) to learn more about cryptocurrencies ,   you should also learn how to analyze the different situations ( dump and pump..).

Be careful: Do not trust in the news by the media, because they  are always manipulating the traders through some fake expectations.

Important information: When you read one book  in every month, then after 2 years you will be in the TOP 10 of the most successful man/woman in that field.

Yes, reading the market is very smart, however it would be very difficult at times because of so many news source and just what you have said, you need to filtered out everything and not just come into conclusion. This what's separate newbie traders from more experienced one. Newbies tend to be swayed by every negative news and react swiftly without looking at the bigger picture.

2- Strategies and tactics:
You must deal with situations through strategies  and tactics ( Plan A, Plan B) .
"Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat "                  
                                                                                                                                                              - Sun Tzu

Strategies is based on the market situations. One simple strategy is if everyone is selling, then you should hodl and also buy more.

3- Take the risk:
In my opinion, the risk is essential to every big profit, and trust me, when you  play it always safe,  then you will earn a  little money in trading.

Of course big risk, big reward. There's also such thing as calculated risk. You can even do diversification, so you can also protect yourself from such high risk that may not turn in your favor at the end.

4- Be patient:
 You must to control yourself, and be patient, especially in difficult situations like, big crash.
"Patience is the key of success ".

Good luck to evey trader    .

No need to put emphasize on this, as we have been spreading this old adage in this forum for a long long time. Sadly though, there are still investors who don't have control of their emotions, so instead of maximizing their profits, then ended up losing more.