Early Profit can be misleading.

[Litzki1990]

Should newbie traders be only concerned about making profit? I do not think so.

Whether new traders or old traders, everyone has the same goal to make a profit. No one trades to pay a loss. But one should not be so restless to make profit in the initial stage.  Because the elementary level is a level of learning. People usually learn at this level.

I feel that every newbie trader should first be concerned about fully understanding trading regardless of if they make profit or not at the beginning of their trading life. A newbie trader who enjoys profits mostly during his early life as a trader may be misled to begin to think that he has cracked the code to trading and will continue making profits. Newbie traders who experience some kind of losses at the early stage of their life but still continue in trading know better how trading can be, and because of the early experience that they have had, they are at a position of becoming much better traders than those that enjoyed easy profit at the beginning which can be misleading. What do you think, let us discuss?

When people start a new business, people do not have enough business knowledge or experience in business. If a person has no idea or experience about business then how can that person earn profit like a successful businessman.  Same is the case with trading. There are many differences between a newbie trader and an experienced trader. Newbie traders would be foolish if they want to earn the same profits as experienced traders in the beginning.

Even if there is a loss in trading in the new situation, new traders should accept it and try to acquire sufficient knowledge about trading. If they practice practical training along with gaining enough knowledge then I think it won't take much time for a new trader to become an experienced trader. And if you are an experienced trader, it will be much easier to earn profit by trading.

[Negotiation]

Should newbie traders be only concerned about making profit? I do not think so.

What do you think, let us discuss?

While I agree with the OP's point, can I also point out that profit making is in trading shouldn't be ignored. Because if all you have experienced as a trader is loss, I can bet that you are already demoralized and demotivated to keep trading. As a newbie trader, it lies on you to find an equilibrium point between making profit and being grounded in the principle of trading. Make profit will keep you interested in trading.

and making mistakes or losses in a row will lower a trader's confidence, therefore at least between profits and losses can be balanced, so that we will be more enthusiastic about dealing with trading. after that we can develop ourselves about the trading knowledge that we adhere to, so that the winning percentage can later increase, and continue to be improved until finally having a greater percentage of profits

Agree, win in trading you have to keep trading there will be gains and losses but giving up is foolish. The best approach will depend on your goals and risk tolerance as an investor if you are looking for short term gains and don't mind some risk, then trading can be a good option for you. If you are more interested in long-term growth and stability, holding your cryptocurrency may be a better choice.

[Pandu Geddon]

Agree, win in trading you have to keep trading there will be gains and losses but giving up is foolish. The best approach will depend on your goals and risk tolerance as an investor if you are looking for short term gains and don't mind some risk, then trading can be a good option for you. If you are more interested in long-term growth and stability, holding your cryptocurrency may be a better choice.

I know in trading there will be risks of profit and loss. but for beginners, if they keep losing, it will decrease their interest in the trade being made. it is important to teach beginners in trading how to make a profit in trading. not all beginners have a firm feeling about every loss and will try again and again until they win. if teaching beginners to trade, do your best.

[tjtonmoy]

The greatest asset that we have is time, the opportunities in the market is unlimited so we can still find opportunities even we miss a lot of good trades.

This is the best advice I have heard in a long time. Yes, time is the best asset we have in our hand. Many people have negative opinion on people starting trade at an early age. But if we do this, we will have more time to improve ourselves. Practice makes you perfect, and this is not something to joke about. It is true and it's a fact. Good trade, bad trade. It's all part of the system. You can't learn fully if you don't have experience on both. With all this opportunity and time in our hand, if taken the right approach, one can become pro that's for sure.

[Smartprofit]

Should newbie traders be only concerned about making profit? I do not think so.

I feel that every newbie trader should first be concerned about fully understanding trading regardless of if they make profit or not at the beginning of their trading life. A newbie trader who enjoys profits mostly during his early life as a trader may be misled to begin to think that he has cracked the code to trading and will continue making profits. Newbie traders who experience some kind of losses at the early stage of their life but still continue in trading know better how trading can be, and because of the early experience that they have had, they are at a position of becoming much better traders than those that enjoyed easy profit at the beginning which can be misleading. What do you think, let us discuss?

In my opinion, in this situation, you need to understand - did you make a profit because you used the right strategy, or were you just lucky?  

If you are just lucky, then it is likely that the next time you will receive losses as a financial result. If you made a profit using the right strategy, then answer yourself the question, is this strategy still relevant or already outdated?  

If the strategy is already outdated, then it needs to be updated or replaced with a new strategy (a strategy that will bring you profit).

[Fondarchand]

Yes you are right that those Individuals who faces huge profit at start become addict to it so they cannot tolerate the losing of money later. At start when a person win regularly then he think that there is no better thing than this and they forget about its risks so in this case they put more and more money into it and finally when risk appears so they become scared of it. So it is important to take a start for just getting a lesson and think that whether you loss or win you will always accept it because a person with stronger mind accepts both and will eventually learns how to cope with these situations.

[Zilon]

What about if you say early profit is an advantage  haha. Anyway I think it is an advantage for an old trader to start making profit almost as soon as he or she enters an order because he can guide the profit better by watching the outcome of the market and to safeguard the profit by adjusting stop loss to entering point and by that he has being in a 50/50 chance of winning maximally in the trade, at least he can readjust entering point to taking some percentage of profit while the trade is still on.

Regardless of how unappealing it might sound early profit can be a trap for major losses. Trading is a continuous learning business adventure in that even older traders keep updating their knowledge and at some point in their trading history no matter how long they have been into trading still record losses occasionally. It is better to spend the time and understand how trading work, enjoy the days of losses, that way it will build better momentum to face bigger obstacles and overcome them.

As for the newbie, IMO I still think the early profit is good. Profit gives confidence and if a newbie starts seeing the green in the account, he can give a thumbs up to himself. However a newbie should have a journal or jotter to analyze what he is doing right or wrong so that when making mistakes and resulting to losses then he can refer to the past when profit was made through the journal. Nothing is wrong with early profit for me all that is needed is passion to go through the losing times because as for trading, it is profit and loss business depending on the one you have more.

One thing early profit does to traders is that it makes the newbie believe they have mastered the act of trading. Some might even become so impatient to complete their course or training. They might also feel tempted to break out from their mentors or tutors feeling they have mastered all they need to know to make more profit. then maybe go has far as taking loans from friends and family members to trade and boom every thing crashes and they learn the hard way.

[carlfebz2]

The most important thing after this is not to become impudent. Alas, often getting the first profit, the trader thinks that he is a guru and can do everything. And it would be worth analyzing everything in order to get a good result and then.

The main question, is on how about the second one? It would be still turning out to be profitable? Its true that people do become that confident on the time that they would be making up profits specially when they

are just starting up on which they would really be having those thoughts that they might really be that able to do it again.Just let them be able to be slapped by the reality because sooner or later they
would be able to find out on how hard on dealing up with a market which is really that unpredictable.

You wouldnt really be able to have a good grasps on the market on and make out some conclusions on just few tries.

[Myleschetty]

What I consider to be misleading is a newbie trader not having the required knowledge to conduct thorough research using the fundamental and technical analysis before trading and also choosing altcoin instead of Bitcoin at the early stage of their trading journey.
Another mistake that I believe is misleading for newbie traders is not choosing a reputable and secure trading platform.

[Sorryfor]

Those who are new to investing in crypto are definitely investing to make a profit. But I think trading should not be done just by investing and hoping to get profit. because sometime it will be seen that he will invest without knowing some idea about trading and later he will have to face huge loss. That is why it is best to think carefully before investing. And if you want to invest, you must follow the market analysis and other rules so that the investment can be successful.

[martyns]

Yes you are right that those Individuals who faces huge profit at start become addict to it so they cannot tolerate the losing of money later. At start when a person win regularly then he think that there is no better thing than this and they forget about its risks so in this case they put more and more money into it and finally when risk appears so they become scared of it. So it is important to take a start for just getting a lesson and think that whether you loss or win you will always accept it because a person with stronger mind accepts both and will eventually learns how to cope with these situations.

You are right mate,and it is also good to know that the reason why they say early profit can be misleading is because in this business of trading, experience is very important,and winning do not bring experience most times,it is failure that does that.Failure makes you know so many things that you wouldn't have known if you had won,it also makes you have time to think and get a reflection of where you made mistakes,and gives you the avenue to be able to correct it.It also gives an experience and idea about more trading businesses.
I know winning is good,but the experience you have today will make you a more successful trader Tomorrow,and the experience is simply the failure or lose you have today.

[blockman]

What I consider to be misleading is a newbie trader not having the required knowledge to conduct thorough research using the fundamental and technical analysis before trading and also choosing altcoin instead of Bitcoin at the early stage of their trading journey.

I think it's understandable if a newbie trader doesn't do that. From the root word itself, they're just newbies and don't know much about FA and TA. But it's a good start as they'll get to know the actuality of what trading is and much better if they're able to earn from it.

Another mistake that I believe is misleading for newbie traders is not choosing a reputable and secure trading platform.

This is just a problem of their preference but I guess most of the newbies heard of Coinbase, Binance and other popular exchanges that has been talked in the mainstream so, for me this isn't really a problem.

[cydrix]

The challenge of handling loan money has come down to one's level of intelligence. As you mentioned, wealthy individuals can make borrowed funds more profitable by investing them or using them to launch a business. I will absolutely find a way to borrow more of the budgeted money if I can. However, there will always be a significant risk involved. I borrowed about $1500 during the Covid 19 pandemic and used it to purchase Bitcoin. Back then, everyone was aware of the perfect purchase price with an interest return guarantee. Everything went off without a hitch, and you were able to make the agreed-upon payment. What I learned is to take advantage of investing opportunities that the pandemic's lower prices afforded me.

[Myleschetty]

Another mistake that I believe is misleading for newbie traders is not choosing a reputable and secure trading platform.

This is just a problem of their preference but I guess most of the newbies heard of Coinbase, Binance and other popular exchanges that has been talked in the mainstream so, for me this isn't really a problem.

Yes, I believe the newbies may already know or hear about Coinbase, Binance, and some other popular exchanges. However, Coinbase and Binance being popular and reputable don't make it a good exchange for some newbies. Do you know why? The newbie needs to understand the geographical rules, regulations, and restrictions of the exchange.

[Oilacris]

Another mistake that I believe is misleading for newbie traders is not choosing a reputable and secure trading platform.

This is just a problem of their preference but I guess most of the newbies heard of Coinbase, Binance and other popular exchanges that has been talked in the mainstream so, for me this isn't really a problem.

Yes, I believe the newbies may already know or hear about Coinbase, Binance, and some other popular exchanges. However, Coinbase and Binance being popular and reputable don't make it a good exchange for some newbies. Do you know why? The newbie needs to understand the geographical rules, regulations, and restrictions of the exchange.

When you do step your foot into certain platforms then it should really be in default on checking out things like those you have given which is understandable because if you dont like to experience yourself
for some possible problems then its better to be mindful. Speaking about early profits then it would be normal on having this kind of approach on the time that we do make positive results
which it would be giving out  that impression that this thing would be simple but its not that actually true because things turns out to be messy when you do able to encounter
on how this market really behaves on a specific period of time which it would be giving out those kind of realizations.

[Fivestar4everMVP]

Should newbie traders be only concerned about making profit? I do not think so.

I feel that every newbie trader should first be concerned about fully understanding trading regardless of if they make profit or not at the beginning of their trading life. A newbie trader who enjoys profits mostly during his early life as a trader may be misled to begin to think that he has cracked the code to trading and will continue making profits. Newbie traders who experience some kind of losses at the early stage of their life but still continue in trading know better how trading can be, and because of the early experience that they have had, they are at a position of becoming much better traders than those that enjoyed easy profit at the beginning which can be misleading. What do you think, let us discuss?

You must understand that trading is not like gambling, where a complete novice can come and start winning all in the name of being lucky, trading is complex and totally different, trading requires knowledge and skills, without it, there is almost no way to profit.
So there is nothing like a newbie trader enjoying easy profit, if a supposed newbie somehow, is making consistent profit in trading, then he or she have probably mastered an important art of trading, there is no two ways about it, trading has nothing to do with being lucky.

[Viscore]

Should newbie traders be only concerned about making profit? I do not think so.

What do you think, let us discuss?

While I agree with the OP's point, can I also point out that profit making is in trading shouldn't be ignored. Because if all you have experienced as a trader is loss, I can bet that you are already demoralized and demotivated to keep trading. As a newbie trader, it lies on you to find an equilibrium point between making profit and being grounded in the principle of trading. Make profit will keep you interested in trading.

That’s the reason why both profiting and losing shouldn’t be ignored. It’s okay if you are consistently making profits in trading because that’s a sign that you are applying what you have actually learned from your first trading experiences, but if you see yourself in consistent losses, I think that’s already a bad sign. Maybe you are just using wrong strategies or it’s just that, you are not meant to be a good trader. That way, you can just settle in hodling first.

[DoublerHunter]

Should newbie traders be only concerned about making profit? I do not think so.

What do you think, let us discuss?

While I agree with the OP's point, can I also point out that profit making is in trading shouldn't be ignored. Because if all you have experienced as a trader is loss, I can bet that you are already demoralized and demotivated to keep trading. As a newbie trader, it lies on you to find an equilibrium point between making profit and being grounded in the principle of trading. Make profit will keep you interested in trading.

That’s the reason why both profiting and losing shouldn’t be ignored. It’s okay if you are consistently making profits in trading because that’s a sign that you are applying what you have actually learned from your first trading experiences, but if you see yourself in consistent losses, I think that’s already a bad sign. Maybe you are just using wrong strategies or it’s just that, you are not meant to be a good trader. That way, you can just settle in hodling first.

^Early profit considering you are new in trading.
Newbie traders should first focus on understanding the market, developing their trading skills and knowledge, and learning how to manage risk effectively. This approach can help them make good trading decisions and avoid making impulsive decisions based solely on the desire to make a profit. Because for me, experiencing losses early on can serve as a valuable learning opportunity and help newbie traders develop resilience and patience, both of which are critical traits for successful trading in the long run.

[jokers10]

The most important thing after this is not to become impudent. Alas, often getting the first profit, the trader thinks that he is a guru and can do everything. And it would be worth analyzing everything in order to get a good result and then.

Okay, how? We know that we should be healthy, wealthy and wise but many still are not. So it is not enough to say something well known, we need to know how to achieve that and not many know that. If you get an early profit how can you know that it is just a luck and not a result of your knowledge? If you have profit with a 10 year experience how to know that your profit is based on your knowledge and experience and it wasn't luck for all those years? Maybe some wise people can say that, but majority prefer to believe in their own abilities and it is natural. And to say that they should be wise... maybe we all should but not all of us know how.

[Jody.Drummer]

The most important thing after this is not to become impudent. Alas, often getting the first profit, the trader thinks that he is a guru and can do everything. And it would be worth analyzing everything in order to get a good result and then.

Okay, how? We know that we should be healthy, wealthy and wise but many still are not. So it is not enough to say something well known, we need to know how to achieve that and not many know that. If you get an early profit how can you know that it is just a luck and not a result of your knowledge? If you have profit with a 10 year experience how to know that your profit is based on your knowledge and experience and it wasn't luck for all those years? Maybe some wise people can say that, but majority prefer to believe in their own abilities and it is natural. And to say that they should be wise... maybe we all should but not all of us know how.

One of them is by being aware of one's own abilities, I mean people (beginners) who have thoughts like that are people who are arrogant and think they have the ability and knowledge. Things like this are things that must be realized by themselves, because they themselves know the abilities that exist within themselves. To minimize them so that they don't become arrogant when they get early profits, one of them is to have them mentored by people who are more experienced. People who have already been in a space like this must understand what really happens in that first advantage.