Trade with a business mindset

[kapalmabur]

Trading is a very unpredictable business tbh and you should accept what amount you can get in every trade as long as you can make profits afterwards and not losing money in it. Be practical and always build a good strategy so that you can gradually get your price target. Being greedy will not work so be smart enough..

I agree with you that trading is unpredictable, because when trading or venturing into anything cryptocurrency, the one thing that comes to the mind is to know your target, and failure to indicates your target before trading, it's very obvious that greediness might leads you lose all you have achieve within some space of time.

The crypto market is also very volatile and this makes it difficult to predict,
professional traders who have extensive knowledge and skills do not guarantee that they will continue to profit,
in trading we need to have many things and one of them is patience because when we are greedy it will make us lose

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[jrrsparkles]

I can say keep your profit margins in a realistic rates but business mindset may destroy the trading because doing business is somewhat compared to day trading so both can be compared to same to same and profitable if people do in that way. Whereas longer trading should rely on the fundamental and be ready to take the opportunity whenever it is possible.

[kamvreto]

Trading is a very unpredictable business tbh and you should accept what amount you can get in every trade as long as you can make profits afterwards and not losing money in it. Be practical and always build a good strategy so that you can gradually get your price target. Being greedy will not work so be smart enough..

I agree with you that trading is unpredictable, because when trading or venturing into anything cryptocurrency, the one thing that comes to the mind is to know your target, and failure to indicates your target before trading, it's very obvious that greediness might leads you lose all you have achieve within some space of time.

The crypto market is also very volatile and this makes it difficult to predict,
professional traders who have extensive knowledge and skills do not guarantee that they will continue to profit,
in trading we need to have many things and one of them is patience because when we are greedy it will make us lose

Patience is an important thing to avoid being greedy, because if someone is impatient and tends to be greedy when trading, every decision making will always be in a hurry and do not see some analysis that needs to be done. The mindset of crypto traders really has to be broad and it has to be more complex to think about strategies to gain profits or minimize losses. Every trader has a different mindset and their own strategy.

[goldkingcoiner]

I think if more traders decided to do their trading with a business mindset, as OP mentioned, then we would definitely see waaay less emotional decision-making that ruins lives of traders because they got too greedy and too fearful.

It is quite understandable. I mean just look at the altcoin traders. For example, Luna. Anyone who was not quick enough to back out lost everything to that shitcoin scam. But then again, anyone who makes bad investment decisions is not going to be interested in serious trading in the first place. At some point trading becomes gambling. Which almost always ends badly.

[borovichok]

I think if more traders decided to do their trading with a business mindset, as OP mentioned, then we would definitely see waaay less emotional decision-making that ruins lives of traders because they got too greedy and too fearful.

It is quite understandable. I mean just look at the altcoin traders. For example, Luna. Anyone who was not quick enough to back out lost everything to that shitcoin scam. But then again, anyone who makes bad investment decisions is not going to be interested in serious trading in the first place. At some point trading becomes gambling. Which almost always ends badly.

Trading is everyday job, that's the way I see it. Some people take it as their day-to-day job while others gamble with trading which is really bad and causes major loses. For the fact that one place trade in a day by guessing and it yielded profit, doesn't mean everyday are like that. Even trading experts experience loses in opening trades. Trading for the purpose of gaining profits, like getting any amount as profits without a target for that day, may lead to loses also. Talking about Luna dump crash, it really affects those that hold gigantic quantities of it, some even believe that it will still pump back but slightly did they know that it would not pump back again. Then if a project like Luna which have already be listed on Binance exchange, and still crashes, so there's no doubt that any altcoins can either dump or pump anytime.

[EarnOnVictor]

One of the major reasons, why traders fail is that they depend too much on their trading strategies, which is wrong. Trading strategies have limits like the OP has iterated, it is our duty to know this limit and either accept it or reject it. If we accept it, we need to work on some successful plans around it, and if we reject it, we need to train more to get another strategy. But a lot causes the failure of traders aside from the strategy as many traders are emotional. This will not help even if we use the best trading strategies.

[Smartprofit]

Everyone approach the market differently using different indicators, techniques, strategies and trend detectors. I tried comparing crypto trading and our every day business. People in our commercial markets keep their profit realistic. For every commodity displayed the have a fixed price attached to them and even if the give buyers the opportunity to bargain the always have a fixed price the will never sell below. This regular business individuals also experience loss but because of their consistency and realistic profit margin their profit cover-up for their losses.

Comparing this to crypto trading many traders have good strategy. Some see good profit but fail to take them because the expect something bigger. If crypto traders can use the business mindset on their analysis the ratio of their profit to loss percentage will be so large. A business person keeps their greed out of their business because the know if their price get unaffordable they might lose their customers. If crypto traders have a price the expect from every trade we will have more profit than losses.

Crypto trading isn't a get rich scheme. Some days can be very profitable while some days might be terrible. The good days should be appreciated, the bad days welcomed and because everyday isn't profitable having a good profit plan for everyday trade helps save the profit and limit the losses. The first step is having a working strategy and after that is knowing the limit of your strategy. No matter how good a traders strategy appears there is always a limit it can't exceed. Not because those strategies aren't reliable but because the market varies and no single model trained can make accurate prediction in all market situation. Each of them have their strength and limitations

Yes that's right!

In the normal business of selling a product, the product has a value.  This is the purchase price (if the item was purchased from the seller).  Or the cost of production (if the product is a product of own production).  In business as usual, sellers of a product tend to sell it at a price above cost.  This is necessary to make a profit.  There are cases of cartel collusion when organizations start selling goods at a price below cost in order to ruin competitors and capture a large part of the market.  

However, this is illegal.  Regulators stop such attempts to manipulate the market.

In trading there is no concept of the value of a commodity.  There is only the concept of the price of buying and selling an asset.  An asset has no physical form and very often has a lot of price volatility.  

Under these conditions, it is sometimes advisable for a trader to fix losses, rather than constantly trying to make a profit on a particular transaction.

[Franctoshi]

the one thing that comes to the mind is to know your target, and failure to indicates your target before trading, it's very obvious that greediness might leads you lose all you have achieve within some space of time.

Exactly, in order to elaborate on this anybody going into any type of business has target and same thing is applicable to trading, You have to know your target, without setting a target in crypto trading you will literally finds a difficult to be profitable. Set targets for taking profits so as immediately you hit your target in the market, you exit the market regardless of wherever the market is headed to, because there is enough liquidity in the market which everybody has its own share, but depends on your trading skill to grab your share.

[Questat]

the one thing that comes to the mind is to know your target, and failure to indicates your target before trading, it's very obvious that greediness might leads you lose all you have achieve within some space of time.

Exactly, in order to elaborate on this anybody going into any type of business has target and same thing is applicable to trading, You have to know your target, without setting a target in crypto trading you will literally finds a difficult to be profitable. Set targets for taking profits so as immediately you hit your target in the market, you exit the market regardless of wherever the market is headed to, because there is enough liquidity in the market which everybody has its own share, but depends on your trading skill to grab your share.

The main goal is to earn a profit. Many people think it was easy and can be done in a short while but the situation is different in the actual scenarios because of many factors that affect our decision-making and mindset. Whether is trading or in business, the same thing goes by and that is to have a positive mindset despite the difficulties we face every day. If we plan and do things to achieve it, I'd see no reason to fail from achieving success.

[crwth]

If you are talking about being able to trade all the time and maintaining a specific risk factor, then you will be profitable in the long run. Imagine being able to bid toward the market consistently and continuously. Imagine being able to time it. It's because you are involved in the market in the first place. If you are, then you are probably going to gain a lot of opportunities as well. That's why an automatic trading tool would be beneficial if you want to be involved in the market continuously.  Risks in the business is always a part of it so you need to be aware and manage those things as well.

[awik p]

Everyone approach the market differently using different indicators, techniques, strategies and trend detectors. I tried comparing crypto trading and our every day business. People in our commercial markets keep their profit realistic. For every commodity displayed the have a fixed price attached to them and even if the give buyers the opportunity to bargain the always have a fixed price the will never sell below. This regular business individuals also experience loss but because of their consistency and realistic profit margin their profit cover-up for their losses.

Comparing this to crypto trading many traders have good strategy. Some see good profit but fail to take them because the expect something bigger. If crypto traders can use the business mindset on their analysis the ratio of their profit to loss percentage will be so large. A business person keeps their greed out of their business because the know if their price get unaffordable they might lose their customers. If crypto traders have a price the expect from every trade we will have more profit than losses.

Crypto trading isn't a get rich scheme. Some days can be very profitable while some days might be terrible. The good days should be appreciated, the bad days welcomed and because everyday isn't profitable having a good profit plan for everyday trade helps save the profit and limit the losses. The first step is having a working strategy and after that is knowing the limit of your strategy. No matter how good a traders strategy appears there is always a limit it can't exceed. Not because those strategies aren't reliable but because the market varies and no single model trained can make accurate prediction in all market situation. Each of them have their strength and limitations

At first, the mistake for newcomers to the crypto world was that they thought that by joining, they would get rich quick, because they knew from the news that there was always a positive side to the crypto world. greed and ambition will actually destroy concentration so that what happens is the opposite of our expectations. there are many projects here that always give hope that will never come, but we must be able to think realistically that in trading we must have a clear portfolio of risk taking and logical rewards

[wxa7115]

the one thing that comes to the mind is to know your target, and failure to indicates your target before trading, it's very obvious that greediness might leads you lose all you have achieve within some space of time.

Exactly, in order to elaborate on this anybody going into any type of business has target and same thing is applicable to trading, You have to know your target, without setting a target in crypto trading you will literally finds a difficult to be profitable. Set targets for taking profits so as immediately you hit your target in the market, you exit the market regardless of wherever the market is headed to, because there is enough liquidity in the market which everybody has its own share, but depends on your trading skill to grab your share.

The main goal is to earn a profit. Many people think it was easy and can be done in a short while but the situation is different in the actual scenarios because of many factors that affect our decision-making and mindset. Whether is trading or in business, the same thing goes by and that is to have a positive mindset despite the difficulties we face every day. If we plan and do things to achieve it, I'd see no reason to fail from achieving success.

Traders concentrate so much on their goals they forget the process is even more important, trading can be very counter-intuitive, you can do everything right and take your time analyzing the markets, waiting for the price to come to you, open a trade with a high risk/reward ratio and still lose money.

While a newbie could invest in a shitcoin which is an obvious scam and make money with it, this confuses traders, but over the long term it is obvious that the trader which does everything as he should is the one which will obtain profits.

[Bhig Daddy]

I'm unsure of how to incorporate trading with a business attitude. Perhaps it was because both endeavor to make a profit, but what distinguishes them from one another is the fact that while in business we must seize every chance and act more aggressively like a greedy person, in trading we should not do so because doing so will lead to failure.

Probably adopt a trader's mentality if you enjoy trading. However, if you run a business, decide that you are running a business as well.

[romero121]

Traders concentrate so much on their goals they forget the process is even more important, trading can be very counter-intuitive, you can do everything right and take your time analyzing the markets, waiting for the price to come to you, open a trade with a high risk/reward ratio and still lose money.

While a newbie could invest in a shitcoin which is an obvious scam and make money with it, this confuses traders, but over the long term it is obvious that the trader which does everything as he should is the one which will obtain profits.

Traders out of experience forget to the process. As said the process have got its importance in money making out of the difference in the market price between time. Not everyone able to book profit, watching the market and making prediction in connection with different incidents is a big source which will ease out booking profit.

At times newbies making big money out of shitcoins confuse the traders. However this is not the reality with majority of the newbies and this is exceptional. So, traders doesn't want to get confused out of shitcoin progress.