Trade with a business mindset

[Scripture]

it’s always good to have your own strategy because this is your own battle and you have to do everything just to win in trading .

I have seen people not trying to build their own trading pattern but they are relying on copy trading because of their past experience of loses. They are not doing a business of their own if they are waiting for trade call before they go in because such type of trading is not with business mindset but to always follow the call of a sender whose mind is that of the mind of the sender.

Copy trading can work, but you have to pay huge fees for that but I think this can work more if you are too busy to analyze the market, but if you have a lot of time for trading then I also suggest to learn this on your own and save yourself from paying huge fees monthly. Well, I have my friends joined a signal group before, and guess what he choose to leave and start on his own. Trading can be consider as your business as well, you work for it but still the profit is not guaranteed same as business, you need to be more wise.

[Majestic-milf]

I like the word realistic profits from the OP. The thing is everyone wants to start trading today and want to 5x or 100x their investments by the end of the day. This is just ridiculously expensive thought anyone could have even in their dreams. I literally laugh when I see advertisements where some random guy is posing in the film and how seriously he keeps telling his story that he is earning 20-50k every month from trading and he just started couple of months ago and he is using XYZ app that’s why he got success. Bullshit man, I literally laugh on such things. Not only this, now there are instagramers who are experts in the field. But nothing is realistic in them. Trading is big bull game. You have to give lot of time and effort for it.

I quite agree with your view there. In trade, in as much as everyone is expecting to make profit, it's really unrealistic to set a huge profit margin and when it doesn't pan out, you lose interest and conclude this line of trade is not for you.
 
 To become effective and profitable in trade, you should bear in mind that there are sunny and rainy days in business and what helps you carry on is discipline.

[noorman0]

We are talking different things on what is traded and I don't think it can be fully applied to trading crypto (or anything that has a price chart). Business people can almost accurately interpret the level of market demand, for example the need for basic goods. They can therefore adjust the numbers that consumers can reach so as to maintain regular profits.

[fauzan Ichsan]

I like the word realistic profits from the OP. The thing is everyone wants to start trading today and want to 5x or 100x their investments by the end of the day. This is just ridiculously expensive thought anyone could have even in their dreams. I literally laugh when I see advertisements where some random guy is posing in the film and how seriously he keeps telling his story that he is earning 20-50k every month from trading and he just started couple of months ago and he is using XYZ app that’s why he got success. Bullshit man, I literally laugh on such things. Not only this, now there are instagramers who are experts in the field. But nothing is realistic in them. Trading is big bull game. You have to give lot of time and effort for it.

I quite agree with your view there. In trade, in as much as everyone is expecting to make profit, it's really unrealistic to set a huge profit margin and when it doesn't pan out, you lose interest and conclude this line of trade is not for you.
 
 To become effective and profitable in trade, you should bear in mind that there are sunny and rainy days in business and what helps you carry on is discipline.

the bigger the profit target, the greater the risk, they are just marketing that offers goods, so it seems to use various ways to make people interested in following it. very sorry for beginners who are tempted by the offer, of course, at the beginning they wished they could make a lot of money in a short time and without the need to work hard, but many of them will regret it in the end and after that marketing will throw an error

[Mr. Magkaisa]

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

-  First of all, for me, traditional business is far from similar to crypto trading. Because in this industry we live in, there is no product that is sold here, instead, the goods that are sold are a virtual currency that depends on the demand of the traders here, and depends on the development of the coin we trade, Then in traditional business, there are some consumables and not while in crypto trading it is not like that. Although I agree with what you said that the price of crypto in the market fluctuates or in other terms most of the coins here are volatile.

As long as you want to have a stable income here in cryptocurrency, you should just be patient, and don't be greedy about how much you want to earn here. It's good that it's slow but the income is sure in the end.

[GeorgeJohn]

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..

You are right, but generally anything that has to do with cryptocurrency is unpredictable, because it's involves a high risk and from my understanding in trading what lures people or some certain investors into lost is because of greediness, so many of traders since they have known that traders greediness is the major thing that deprived them profit, i think they have a limitation with that.

[GreatArkansas]

it’s always good to have your own strategy because this is your own battle and you have to do everything just to win in trading .

I have seen people not trying to build their own trading pattern but they are relying on copy trading because of their past experience of loses. They are not doing a business of their own if they are waiting for trade call before they go in because such type of trading is not with business mindset but to always follow the call of a sender whose mind is that of the mind of the sender.

Copy trading can work, but you have to pay huge fees for that but I think this can work more if you are too busy to analyze the market, but if you have a lot of time for trading then I also suggest to learn this on your own and save yourself from paying huge fees monthly.
(....)

This is a red flag for me. Copy trading will not help you to grow or learn. If your goal is to learn how to trade and become independent in the future, then you should not rely on copy trading. I am not telling copy trading is not good, it depends on your purpose or goal.
Developing how to trade by our own will help us to become a good trader, because through that, we will learn, on our losses and wins, we will learn from there.

[tygeade]

We are talking different things on what is traded and I don't think it can be fully applied to trading crypto (or anything that has a price chart). Business people can almost accurately interpret the level of market demand, for example the need for basic goods. They can therefore adjust the numbers that consumers can reach so as to maintain regular profits.

Producing a good and selling is a very sensitive subject. Because if you produce 25k items and then sell 1k of them it would be your bankruptcy, if you produce 1k and there are 25k people who wants it, you are missing profit, but if you end up producing exactly how much you should sell with only a few leftover items, that means you produced as much as you had to and that’s great.

Too many things that are unrelated in this and with crypto, you can't do something like that with crypto, its not a business but an investment and there are not that many paralels to this situation and crypto. Or at least if there is one, I haven't seen any.

[yhiaali3]

Well done your analysis is very good, you have highlighted an important weakness of most traders, greed, this is a weakness of most traders that market makers take advantage of well because they know that traders think they can make fantastic profits by selling their coins at unreasonable prices.
There is a certain limit to the price that any coin can reach, but traders dream of getting the sale at fantastic prices and do not want to sell at an acceptable point so they hold their coins thinking that it can rise x100 for example, but they miss the opportunity to sell at a good price as a result their greed. In the end, they only get to lose.

[Natalim]

We are talking different things on what is traded and I don't think it can be fully applied to trading crypto (or anything that has a price chart). Business people can almost accurately interpret the level of market demand, for example the need for basic goods. They can therefore adjust the numbers that consumers can reach so as to maintain regular profits.

Indeed, trading has a different approach compared to business. Entrepreneurs are really great when it comes to predictions they can read the market depending on their current status, unlike in trading where it remains unpredictable no matter how long you've been in trading. That is why for some reason some entrepreneurs don't get interested in trading because they know that they can't manage to manipulate the result of their trades which is very unlikely when you are in business as if you want grow your business it certainly you will get.

[BobK71]

A certain amount of profit is logically determined for every business. But many unscrupulous traders sell at inflated prices in the hope of extra profit. Such a situation prevails in the crypto market as well. Where one refuses to sell even after making enough profit, he has to bear the weight of loss at one time. Before doing business we should master some things carefully especially a trader must have realistic knowledge.

[stomachgrowls]

A certain amount of profit is logically determined for every business. But many unscrupulous traders sell at inflated prices in the hope of extra profit. Such a situation prevails in the crypto market as well. Where one refuses to sell even after making enough profit, he has to bear the weight of loss at one time. Before doing business we should master some things carefully especially a trader must have realistic knowledge.

We can really pertain that there are some points which you could eventually make yourself consider a businessman even when you do engage with trading.It might be on different concept on how to make money but

on general sense, you would really be that applying on the same things which you are totally doing when you do have a business.Expect yourself on experiencing losses which is the main ones.

you do need to be versatile which you would really be needing yourself to adapt on whatever circumstances you might be facing on.
It is something that cant really be obtained in a short span of time but once you do get that sufficient experience then you're good to go.

[_BlackStar]

Crypto trading isn't a get rich scheme. Some days can be very profitable while some days might be terrible.

It's hard to expect all traders to have the same mindset as you, most of them are profit regardless of whether they do analysis or just hope for luck. I'm totally aware of that, but it's hard to make everyone aware that crypto trading or investing can't completely be considered a get-rich-quick scheme.

I'm not sure about whether they are really aware of the risks, but I think they know that trading allows them to make profits and lose money. These trades should not be considered a get-rich-quick scheme, they should not ignore the risks involved including the security of the wallet.

[Mpamaegbu]

I’m trading for many years in crypto but until now I’m not comfortable on my trading strategy even though I’m having a good steady income on stocks trading here in my country.

By implication, you're saying stocks is favourable to you than cryptos; if I got you right? If I were you I would concentrate on that which gives me easy and better profit and don't get my hands on many pies. It's easier to concentrate on a few things than much, especially if that much proves unprofitable. For me, I don't trade stocks because it looks analogue and old fashioned to me.

The fundamental analysis on crypto makes crypto trading very wild since you didn’t know when this kind of volatility will hit and on what direction. Even if you have a good TA while a big news can easily deny your TA.

This is sadly true and that makes cryptos highly unpredictable. Fundamentals of cryptos can liquidate investors without blinking especially when they get too comfortable. Look at what happened overnight with Luna. That was a coin whose TA was bullish and then a sudden news of wrongdoing came and plummeted it overnight like a huge joke. It later became a reality. Many investors and traders alike got liquidated on that.

[bhooscream]

Experience will always be the best teacher. Though there are inevitable losses in trading that are hard to sustain, but if you keep learning from them, you can still get decent amount of profits despite of the market uncertainty. After all, trading can be learned and gained, so it’s up to us how we can increase our profits even if it means our working strategies do not last long, we need to keep on developing new ones in order to sustain and maintain consistent profits.

Experience coupled with how we evaluate and learn from the experience so as to provide an even better experience. there are so many professional traders who have had bitter experiences previously and lost a lot of money until finally, they were able to take lessons and evaluate the various strategies. So they can be successful and professional.

However, there are also traders who have had bitter experiences but ended up quitting and not continuing because of the trauma of losing a lot of money and blaming crypto for the defeat, this is how one cannot take the experience as a very valuable lesson.

[lixer]

Mindset matters a lot in trading just as it matters in other things. also understanding and having a business mindset towards trading can also help. just like business you make profits and then you also lose in trading and new traders should understand and not bite themselves about this or make their losing discourage them from wanting to keep trading thinking that older traders never lose but always gain.

Everyone experiences losses and the new traders need to recognise and understand this. The only difference is that the older traders know how to manage their losses something that the new traders need to learn, just like business people who manage situations.

I think mindset is a general word. It's how one thinks so you will still need to specify if what mindset is needed in your description but it seems you are talking about a positive mindset there because we are giving advises here and not someone to teach them a bad way to trade. Trading can be considered as a business because we can earn profit out of it so yeah we need to develop a business mindset when if we are dealing with it.

Losing is a part of every business but there are people who can't help it but to quit because they lose a big portion of their money. This is why it's better to start small first on every business we venture.

[Ahli38]

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.

In addition to greed that makes a crypto trader fail to take profits. the lack of patience factor is also the cause of them failing to enter purchase and sales entries correctly. Many crypto traders are impatient in taking their entry positions. they sometimes analyze well. but sometimes it's because they can't control their emotions and they're impatient that they rush and ignore the good analysis they've got. so sometimes our analysis is right. manage our trader psychology that is not right. and their business minds are always in control of their emotions. so they move according to the analysis they have done. they can refrain from greed. and keep trading patiently and unhurriedly.

most traders who lose are those who cannot control themselves mentally or psychologically.
The emotions we have to control when trading are feelings of fear, greed, patience and serenity. if we can control those emotions. then we can apply our analysis in trading properly.

[wxa7115]

As we trade more we will learn what can be the best method that makes us profitable. It will depend on our dedication and principle in how we handle money when we win and when we lose. There were times we will lose and realize that we should not do such or such move. We must take note of those times and apply in our next method. Once we find the method that make profit we will be able to analyze how to manage it well.

Yes, it is a learning process we can get by practicing it directly to give us experience.
The more we learn about trading, of course, it will increase our ability to analyze and our efforts to get bigger profits.
It's okay if we experience losses; as long as we consider it a process that we must go through, it can also make us cautious in our decisions.
By continuing to learn, we can find which ones are suitable for us to do and in analyzing, we can also get clues about when to enter the market.

Experience will always be the best teacher. Though there are inevitable losses in trading that are hard to sustain, but if you keep learning from them, you can still get decent amount of profits despite of the market uncertainty. After all, trading can be learned and gained, so it’s up to us how we can increase our profits even if it means our working strategies do not last long, we need to keep on developing new ones in order to sustain and maintain consistent profits.

It is true that learning things on our own and going through them is the way in which we can more easily remember the knowledge we have acquired, but if you only learn this way when it comes to a topic like managing your money very quickly you will find yourself losing your capital.

It is important to learn as much as possible from books and the experiences of others as a way to minimize our losses, since trading and investing are two topics which are simply too deep and complex to learn exclusively from our experiences.

[gabbie2010]

it’s always good to have your own strategy because this is your own battle and you have to do everything just to win in trading .

I have seen people not trying to build their own trading pattern but they are relying on copy trading because of their past experience of loses. They are not doing a business of their own if they are waiting for trade call before they go in because such type of trading is not with business mindset but to always follow the call of a sender whose mind is that of the mind of the sender.

Copy trading can work, but you have to pay huge fees for that but I think this can work more if you are too busy to analyze the market, but if you have a lot of time for trading then I also suggest to learn this on your own and save yourself from paying huge fees monthly. Well, I have my friends joined a signal group before, and guess what he choose to leave and start on his own. Trading can be consider as your business as well, you work for it but still the profit is not guaranteed same as business, you need to be more wise.

How long would a trader rely on and continue copy trading after paying huge monthly fee? if they suddenly stop sending signals that mean such a trader will stop trading because of lack of trading skills, why not devote a lot of time on personal learning process of trading, afterall the internet is there with every information that can be harnessed and use to build a personal trading strategy, losses is inevitable in trading however, the ability to manage trades even with a few wins and turn it profitable is another skill in money management above bear in mind that avoiding greediness in trading is the key to becoming a successful trader.

[Hypnosis00]

How long would a trader rely on and continue copy trading after paying huge monthly fee? if they suddenly stop sending signals that mean such a trader will stop trading because of lack of trading skills, why not devote a lot of time on personal learning process of trading, afterall the internet is there with every information that can be harnessed and use to build a personal trading strategy, losses is inevitable in trading however, the ability to manage trades even with a few wins and turn it profitable is another skill in money management above bear in mind that avoiding greediness in trading is the key to becoming a successful trader.

That is a big [problem relying on others as for sure they will never stay at your back all the time. A reason why we should have to push ourselves to learn standing our own feet and enhance our knowledge in trading while there is someone beside us. We have to take that moment as we never know what might happen in the coming days but literally, I foresee good results when having our own decisions as we can do whatever we wanted, though it was risky and full of trial and error. But yeah, this way to success.