Trading with the right mindset

[Lannakosa]

The right mindset in trading is to be prepared for the fact that things can go wrong, sometimes very wrong. You also need to set yourself clear entry and exit rules based on price. Everyone would love to enter at a market low and exit at a high but we also know that this is very difficult, which is why simply exiting when we feel we have made a profit that satisfies us should make us happy. If you take too many risks, you break up all your hard work.
Remember that rules: well done trading is a job, not a hobby.

Trading can be either a full time job or an additional activity, an additional activity is basically a hobby, especially if you enjoy trading. If you close a trade with profit, that is good in any case. There is no need to worry if the price continues to rise after you exit the trade. The most important thing is that you made a profit. In general, you should aim to increase the number of profitable trades rather than trying to make a larger profit from one specific trade.

[Hypnosis00]

If only those beginners have been aware how risky trading is, and how it requires a lot of basic knowledge, skills and even positive traits, then they would have not rushed into trading and expect getting rich instantly from trading.

But there are still few beginner traders who see them as challenges, and the more they get trapped with the hardships in trading, the more they will be more driven and passionate to succeed their future trades, even if it means losing and having failures on their initial trades.

[jossiel]

If only those beginners have been aware how risky trading is, and how it requires a lot of basic knowledge, skills and even positive traits, then they would have not rushed into trading and expect getting rich instantly from trading.

Their only resource is probably youtube and social media.

That's how they garnered their information that trading is profitable and after that, they don't have any clue of what its realities are.

Well, if they will pursue that. In the end, they'll learn all of those things through their experience but in a hard way.

[Johnlomape]

If only those beginners have been aware how risky trading is, and how it requires a lot of basic knowledge, skills and even positive traits, then they would have not rushed into trading and expect getting rich instantly from trading.

But there are still few beginner traders who see them as challenges, and the more they get trapped with the hardships in trading, the more they will be more driven and passionate to succeed their future trades, even if it means losing and having failures on their initial trades.

Trading is not only about you trying to make profits but also making sure that the profit you have made so far do not get back to the exchange or broker you are using to trade. This is the mistakes of traders always make in the attempt to make more profits they will find themselves in a big problem after losing the profits they had made maybe in few days ago especially when they had publicized it to people around them. Trading should more of educative mindset because that is what is going to help a trader to become profitable in a long journey without expecting too much.

[nara1892]

If only those beginners have been aware how risky trading is, and how it requires a lot of basic knowledge, skills and even positive traits, then they would have not rushed into trading and expect getting rich instantly from trading.

Their only resource is probably youtube and social media.

That's how they garnered their information that trading is profitable and after that, they don't have any clue of what its realities are.

Well, if they will pursue that. In the end, they'll learn all of those things through their experience but in a hard way.

Fomo is what underlies their desire to get involved in trading, hoping to achieve large profits and get rich quickly, like the people they see.

Social media and the internet are indeed very influential, and they often adopt what they see as a standard of living, serving as an example, but with little chance of learning from it.

What you say is true: if they can pursue it diligently, they might also succeed, but it will certainly require a more complex and difficult process. A healthy mindset should help prevent them from misguided goals from the start.

[jossiel]

Their only resource is probably youtube and social media.

That's how they garnered their information that trading is profitable and after that, they don't have any clue of what its realities are.

Well, if they will pursue that. In the end, they'll learn all of those things through their experience but in a hard way.

Fomo is what underlies their desire to get involved in trading, hoping to achieve large profits and get rich quickly, like the people they see.

Social media and the internet are indeed very influential, and they often adopt what they see as a standard of living, serving as an example, but with little chance of learning from it.

What you say is true: if they can pursue it diligently, they might also succeed, but it will certainly require a more complex and difficult process. A healthy mindset should help prevent them from misguided goals from the start.

The process might be complex and hard for them. But if they're persistent and serious about it, I think at some point they'll be able to make it.

But if they're just random traders that think it's a way to get rich without proper planning. They're only wasting their time and money in it.

Because the successful traders are existing but they went for a long process of failures before they're able to reach that.

[nara1892]

Fomo is what underlies their desire to get involved in trading, hoping to achieve large profits and get rich quickly, like the people they see.

Social media and the internet are indeed very influential, and they often adopt what they see as a standard of living, serving as an example, but with little chance of learning from it.

What you say is true: if they can pursue it diligently, they might also succeed, but it will certainly require a more complex and difficult process. A healthy mindset should help prevent them from misguided goals from the start.

The process might be complex and hard for them. But if they're persistent and serious about it, I think at some point they'll be able to make it.

But if they're just random traders that think it's a way to get rich without proper planning. They're only wasting their time and money in it.

Because the successful traders are existing but they went for a long process of failures before they're able to reach that.

Basically, any form of success isn't as easy as you might imagine, so it's perfectly natural that the process is difficult and complicated; this is part of the requirements for achieving success.

Anything done without the right intention and hard work, and based solely on hopes and dreams, will never succeed. As you said, they will ultimately just waste a lot of money and time. This is a fact.

Therefore, to achieve success in any field, one must work very hard, be disciplined, consistent, patient, and have a strong mentality.