What's the Most Delusional Belief You Held When You First Started Trading?

[Brandon855]

Let's be brutally honest for a minute. Before we learned about risk management and realistic expectations (usually by losing a painful amount of money), we were all a little bit insane.

We all had that one beautifully stupid belief that we thought was our ticket to a Lambo.

Maybe you thought you'd found the "one weird trick" indicator that was never wrong. Maybe you believed you could turn $100 into $100,000 in a month, easy. Or my personal favorite: thinking you could just copy some influencer's trades without any of the risk.

So, let's air it out. What was the most idiotic, unhinged, completely delusional thing you truly believed about trading when you were a rookie?

[Eternad]

So, let's air it out. What was the most idiotic, unhinged, completely delusional thing you truly believed about trading when you were a rookie?

I’m winning for a month with a daily profit around 100$ to 200$ that time using same strategy for using indicators and patterns on my trading.

Until I suddenly get cocky on investing to high risk altcoins since I thought I can predict the outcome with my strategy. The result didn’t go well while I keep trying to repeat same process on different altcoin that completely break my profit and losses my capital.

I’m regretful that I become greedy despite having steady income from my strategy. It’s just weird that I can’t repeat that good run despite using same strategy and patterns on same coin before.

[justinlamode]

I joined trading through a company that claim to be trading yet they were into MLM. They employed many good and popular professional speakers who package great speeches about finance and how trading can change our lives within a year. It was after joining and burning one or two accounts and even lost the ability to renew my subscription that my eyes opened to the reality that I was involved in trading through a wrong platform, through people that were interested in the subscription as they were never trading. At those early stages, I was brainwashed to believe that I was going to achieve financial freedom at a very young age. I was just lucky to resist the urge of ditching my career to pursue fell time trading MLM ambition.

[Questat]

Aside from thinking that trading will make me rich quick, I also thought that if I can make profits on my first trading experiences, that’s good to show that I will be making trading profits consistently. Until I realized that it’s more risky in trading, as you might end up losing a lot than winning a good amount.

And the fact that if you’re being profitable in the beginning doesn’t guarantee that you’ll still be profitable in your next trades. There’s always uncertainty in trading, especially if the market moves totally opposite from what you expected it to be.

[Asiska02]

So, let's air it out. What was the most idiotic, unhinged, completely delusional thing you truly believed about trading when you were a rookie?

Everyone that is really into trading have such weird believe which never turned out to be so. As for me, I knew something so profitable like this and life changing opportunity can’t be that easy and I needed to focus and learn very well to become a profitable trader. One thing I had believe in was that I won’t take much time, not taking up to two years to become profitable.

But after studying well and had to be trading actively, using proper risk management also, I got to realise why people take longer time to become profitable in trading. It is not easy even though the successful traders all claimed they had passed through this stage once before becoming profitable. I am not seeing it as a must for me, I am not rushing into it like before and don’t mind how long it will take to become profitable. If it happens, so be it and if it doesn’t happen, I should on to my other sources while not risking too much into trading.

[sheenshane]

All traders often hold the delusional belief that before we start trading, we all hope to make a profit, and that's the mindset we have when we're new to trading.  Every time I engaged in trading, this thought was in my mind, to make a profit.  Unfortunately, I didn't succeed, and all my deposits were quickly wiped out in just one session.  
Despite that belief, it was positive thinking that encouraged traders to explore more ways to achieve successful trading based on the books I’ve read.  It instilled a sense of guts and courage in trading.

Eventually, I realized that trading isn't for everyone, and it certainly isn't for me.
So, I stopped trading and switched to holding and investing more to reduce risk.

[Pandorak]

Let's be brutally honest for a minute. Before we learned about risk management and realistic expectations (usually by losing a painful amount of money), we were all a little bit insane.

We all had that one beautifully stupid belief that we thought was our ticket to a Lambo.

Maybe you thought you'd found the "one weird trick" indicator that was never wrong. Maybe you believed you could turn $100 into $100,000 in a month, easy. Or my personal favorite: thinking you could just copy some influencer's trades without any of the risk.

So, let's air it out. What was the most idiotic, unhinged, completely delusional thing you truly believed about trading when you were a rookie?

Basically, the purpose of a trader chooses to trade because he thinks he can make the most profit in the shortest possible time, without realizing that on the other hand there is such a thing as trading risk and this is relatively large for traders who trade in the short term.

My experience as a trader lies in thinking wrong, thinking trading is the way to instant wealth without being equipped with adequate knowledge, even though if we know the job of being a trader is one of the hardest in the world, proving how difficult this industry is. I even at the beginning of becoming a trader often bought VIP signals, attended paid classes to just get training and trading ebooks, even once bought entrusted funds to professional traders (he said) but in the end instead of profit instead of profit, profit cannot be, capital is lost, the lesson that can be taken is to first learn about what is a trading plan, trading strategy, money management, including trading psychology also affects the market, then do a backtest, so that when it has been tested profitabla then you can start trading, even then it is recommended with small capital first.

[Rruchi man]

So, let's air it out. What was the most idiotic, unhinged, completely delusional thing you truly believed about trading when you were a rookie?

I believed that I could be a master in trading in just six months, and although I learned a lot in six months, I quickly figured out that there was more to learn, that in fact, learning to trade properly required you to commit for an extended period to learning. Many people do not stick around long enough for that, that is, to learn to trade, because they do not give themselves enough time.

They are holding on to the delusion that they can become masters or superior traders in just six months. If you are new to trading, give yourself time.

[GreatArkansas]

(....)

So, let's air it out. What was the most idiotic, unhinged, completely delusional thing you truly believed about trading when you were a rookie?

Back when I first got into trading, I really believed I could turn a tiny amount of money into a fortune overnight, pure hype hahaha. I thought I had found a "magic" method that never failed. I even copied trades from random people or group online thinking it would work without understand the risks at all.

[Webetcoins]

Back when I first got into trading, I really believed I could turn a tiny amount of money into a fortune overnight, pure hype hahaha. I thought I had found a "magic" method that never failed. I even copied trades from random people or group online thinking it would work without understand the risks at all.

I think that was possible, all through the name of luck, like we suddenly saw a meme coin that is about to burst into flames. And when you say a method that never fails, it can mean that you have been into a point where you earn a consistent profit? That's great but unfortunately, a disaster then came when you think increasing the amount that you risk is a good idea to earn more.

Usually, that is what screws us. Last is copy-trading. It does work if we know which traders are performing well. Even without adequate knowledge, some platforms can still be user-friendly to include a winning percentage in each of their traders. The risk is, we can lose, the same when we do trading alone.

[cabron]

Back when I first got into trading, I really believed I could turn a tiny amount of money into a fortune overnight, pure hype hahaha. I thought I had found a "magic" method that never failed. I even copied trades from random people or group online thinking it would work without understand the risks at all.

I think that was possible, all through the name of luck, like we suddenly saw a meme coin that is about to burst into flames. And when you say a method that never fails, it can mean that you have been into a point where you earn a consistent profit? That's great but unfortunately, a disaster then came when you think increasing the amount that you risk is a good idea to earn more.

Usually, that is what screws us. Last is copy-trading. It does work if we know which traders are performing well. Even without adequate knowledge, some platforms can still be user-friendly to include a winning percentage in each of their traders. The risk is, we can lose, the same when we do trading alone.

Not really possible with small amount. I have the same belief when I started Forex and then lost my only money left in my account. Not surprising said the veterans in the Forex forum.

They suggest Bitcoin to me and found my way to earn some BTC. I still have the belief in trading just $200 will make me earn $20 a day in trading. Its not possible because the market ain't making it easy.

[Finestream]

All traders often hold the delusional belief that before we start trading, we all hope to make a profit, and that's the mindset we have when we're new to trading.  Every time I engaged in trading, this thought was in my mind, to make a profit.  Unfortunately, I didn't succeed, and all my deposits were quickly wiped out in just one session.  
Despite that belief, it was positive thinking that encouraged traders to explore more ways to achieve successful trading based on the books I’ve read.  It instilled a sense of guts and courage in trading.

Eventually, I realized that trading isn't for everyone, and it certainly isn't for me.
So, I stopped trading and switched to holding and investing more to reduce risk.

As much as trading is open for everyone, but not everyone may turn successful with trading. That may be the reason why a lot aimed to trade and dream of large profits but only to find out in the end only few last in trading. Even myself I don’t trade a lot, not because I don’t want to maximize my losses, but because I know the fact that trading requires higher risk, and if you can’t deal with it, you will surely end up with huge losses.

After all, trading isn’t a do or die. We can still focus on buying and hodling itself and still be able to maximize the profits.

[slaman29]

Many, OP. So many. Especially when you are young I think your brain maturity is simply just nowhere near realistic and you look back and wonder what the hell type of person you were

One really long delusion I had was in forex was those currency pairs where you had overnight interest. As long as your order is placed and never closed, you keep earning overnight interest. I thought wow, this is a slow but sure thing.

And sure enough I racked up cents and cents of interest lol and even made profit on some esp pairs versus JPY which was like almost near zero % rate for such a long time.

Then also sure enough those currencies with high interest rates lose value in long term anyway and you get RIP.

[cryptoaddictchie]

Maybe you thought you'd found the "one weird trick" indicator that was never wrong. Maybe you believed you could turn $100 into $100,000 in a month, easy. Or my personal favorite: thinking you could just copy some influencer's trades without any of the risk.

Well depends on coin or tokens you bought. I am able to gain buying $200 worth of public sale token of avalanche around September 2019 and sold that at $40k during bull run last 2021. Didnt catch the highest peak but the price I sold was still $100 from an entry of $0.5 per tokens.

So having some firm believed on potential of other tokens wouldnt be impossible. Yeah it seems delusional but if you know which will be good then it turns out to be a reality.

[OcTradism]

Let's be brutally honest for a minute. Before we learned about risk management and realistic expectations (usually by losing a painful amount of money), we were all a little bit insane.

We all had that one beautifully stupid belief that we thought was our ticket to a Lambo.

When you are newbies, you can start trading and think you are a genius trader in this market. It is a first terrible mistake and next ones are: use all money you have for trading, make loan for trading, trade with leverages or futures type, and say no with Stop loss order in your trading.

All of those mistakes are very popular among newbies while they actually should not trade and must use stop loss order to defend their initial trading capital as best as possible.

One of best weapons in trading.

[Wind_FURY]

Let's be brutally honest for a minute. Before we learned about risk management and realistic expectations (usually by losing a painful amount of money), we were all a little bit insane.

We all had that one beautifully stupid belief that we thought was our ticket to a Lambo.

Maybe you thought you'd found the "one weird trick" indicator that was never wrong. Maybe you believed you could turn $100 into $100,000 in a month, easy. Or my personal favorite: thinking you could just copy some influencer's trades without any of the risk.

So, let's air it out. What was the most idiotic, unhinged, completely delusional thing you truly believed about trading when you were a rookie?

That I could quit my job and become a professional day-trader within two years with a small amount of starting capital.

 

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.

[Mame89]

So, let's air it out. What was the most idiotic, unhinged, completely delusional thing you truly believed about trading when you were a rookie?

When I first became interested in learning about crypto and saw people succeeding in crypto, I thought that investing in crypto was a quick way to get rich. However, after getting involved in the crypto world, it turned out not to be in accordance with reality, even at that time I was still confident to continue learning and learning in the hope of becoming a successful trader but in the end I couldn't do that.

Entering the crypto world makes us fantasize or imagine various things, for some reason I didn't understand at that time. I always convinced myself that in one year I could be successful in trading, in reality it was not as easy as I thought and not as easy as other people said. The crypto world requires caution, patience, and continuous learning because the market is difficult to predict. Beliefs like this, I think everyone must have experienced it, it's the same as when we first played jdui with the hope of getting a jackpot right away. For me, there is no problem with this kind of delusion, the important thing is that every mistake or not in accordance with reality must be used as an experience for the future.

[Mahanton]

Let's be brutally honest for a minute. Before we learned about risk management and realistic expectations (usually by losing a painful amount of money), we were all a little bit insane.

We all had that one beautifully stupid belief that we thought was our ticket to a Lambo.

Maybe you thought you'd found the "one weird trick" indicator that was never wrong. Maybe you believed you could turn $100 into $100,000 in a month, easy. Or my personal favorite: thinking you could just copy some influencer's trades without any of the risk.

So, let's air it out. What was the most idiotic, unhinged, completely delusional thing you truly believed about trading when you were a rookie?

So at the time that i have in mind on the first days on becoming a trader not only on crypto space but also when i have started on forex.

1. Making $10k per month on having just that $100 capital.
2. Could be able to make that money with just few trades.
3. Setting out Technical indicators with ease and be able to read it up easily and place trades.
4. Could read up on the market direction without having any effort
5. Learning up the skill in just that 7 days and consider out myself as a professional.
and lastly.. becoming that rich in no time...

Whenever you do see those gains or those individuals who do made out some good amount of PNL's online, then you would be having normally that kind of boost up. You will be having those thoughts that
If those people could be able to do so then why cant you? Due to that kind of urge then you would be starting out to make up some engagement just because you do want to justify into the things that you do have in mind and trying out to deal up with the market. On the time that you had stepped your foot into this space then gradually you would be able to realize that it was never been that easy on the first place. Those delusional approach that you do have earlier you would replaced by something those realizations and would be opening up your eyes that it was never been that simple in the first place. There are those conditions or times that you would be needing up to look out and if you do want to survive into this market then it will be basing up into the actions that you would be gonna taking on which of course it will be reflecting out on how deep is your knowledge into this space.

[The Cryptovator]

I will not lie; I don't expect any unrealistic return from the trading. For holding, I expect at least to make double. Holding is different from trading; I hold for quite longer either Bitcoin or altcoins. During trading, whenever I have at least 10% profits, I intend to take out my profits. That's how, actually, I missed the bull train a couple of times in my trading life. If I were intending to make more money, like a couple of x, then I could make double at least. But as I said, I don't expect too much from the trading.

We shouldn't dream of something which looks unrealistic at all. If you become so greedy, then you can't make money. When you expect many more profits, then you may not sell at the right time. As a result, you will miss the profits, which should be as usual. Trading doesn't mean to make you quick rich; if you expect that, then your dream will be just a dream.

[Dr.Bitcoin_Strange]

That I could quit my job and become a professional day-trader within two years with a small amount of starting capital.

 

So funny seeing that someone actually had the same thoughts I had back then, at that time I was not working yet but was still running a program, I even said that if I can just perfect my trading skill and become so profitable like the big boys I saw on social media then, that I was not going to even look for a job to work for another person but would rather start my own company in a big way. Funny how it didn't go as planned because trading is not easy man.