QUIT "Trading", JUST HODL Bitcoin

[Sandra_hakeem]

This is what I've always suspected. There's no way one would claim to be a pro trader, but make comments like what we normally see in here. It's either they tried and crashed so hard that they now assume nobody's making anything off of it, or they just raise these argument to inflict their post count.

The fact is, newbies or those who don't have much knowledge about trading are the one who don't make any profit because there's no shortcut in trading

Surprisingly, the majority of self-made traders today are noobs who, as a result of greed and frustration, have funded and lost, rinsed and repeated the same process without sparing out the time to study. How many times have we seen topics in this section of people comparing trading to gambling? Plenty times. So if the same set of people come out to say stuff like "only 1% of traders make profit", it's not a shocker.

you need to study and learn from the market, not from the analysis of others, because we have different ways to analyze the market, but in the end the result is similar to pro traders' analysis.

I hope more real traders come from this section who know more about technical analysis, not just a random guy who has a negative mindset about trading.

I just hope so.

[SquirrelJulietGarden]

Surprisingly, the majority of self-made traders today are noobs who, as a result of greed and frustration, have funded and lost, rinsed and repeated the same process without sparing out the time to study. How many times have we seen topics in this section of people comparing trading to gambling? Plenty times. So if the same set of people come out to say stuff like "only 1% of traders make profit", it's not a shocker.

Self-made is likely for people who succeed in something like self-made millionaires, self-made billionaires, and i don't think this term is appropriately used here. Like noobs, newbies in trading, they mostly lose money, get losses, so without profit and super good profit from trading, it's not rightly to call them as self-made traders.

Trading is a hard core challenge for all traders, from newbie traders to senior members and the market is always the same year by year, over a long time, as most traders in the market have losses and it's true for all types of traders from amateur, newbie to senior. Newbies have more risk of failures and get losses in trading but it does not mean among senior traders, they would have too good profitable and successful rates.

[Wind_FURY]

Trading is never a must, like everyone should enter trading because of its promising profits. But its certainly a choice, a choice not to enter trading and stick to hodling alone, or a choice to enter trading but on a more responsible manner.

However, just like your title says, quit trading, I don't think that's applicable for everyone. There are still traders who are motivated enough to pursue their trading career because they believe that they'll be future good and profitable traders, and hodling alone they don't see theirselves gain future satisfaction.

We definitely will not convince everyone to save their money and use a strategy that they will have an edge. Plus we're merely suggesting. If they still want to gamble with their money, then OK, it's their money = choose their path.

But with enough time and losses, we'll be here to tell them to Give HODL a chance.

[Sandra_hakeem]

Surprisingly, the majority of self-made traders today are noobs who, as a result of greed and frustration, have funded and lost, rinsed and repeated the same process without sparing out the time to study. How many times have we seen topics in this section of people comparing trading to gambling? Plenty times. So if the same set of people come out to say stuff like "only 1% of traders make profit", it's not a shocker.

Self-made is likely for people who succeed in something like self-made millionaires, self-made billionaires, and i don't think this term is appropriately used here. Like noobs, newbies in trading, they mostly lose money, get losses, so without profit and super good profit from trading, it's not rightly to call them as self-made traders.

You didn't suggest an alternative term to have replaced it with, so I assume there's no correction there.I think self-taught should have fitted better in that context. Either way, we all got the point I was trying to make.

Newbies have more risk of failures and get losses in trading but it does not mean among senior traders, they would have too good profitable and successful rates.

This topic wasn't about whether or not the rates for pros are higher than for the noobs (of course that invalidates the argument), OP made a false assertion. Lack of discipline and risk management will always pu you below the average.

[justdimin]

Trading is never a must, like everyone should enter trading because of its promising profits. But its certainly a choice, a choice not to enter trading and stick to hodling alone, or a choice to enter trading but on a more responsible manner.

However, just like your title says, quit trading, I don't think that's applicable for everyone. There are still traders who are motivated enough to pursue their trading career because they believe that they'll be future good and profitable traders, and hodling alone they don't see theirselves gain future satisfaction.

Yeah, people need to understand that just because they are in the market, and now know about cryptocurrencies and how they bought and sold, it doesn't necessarily mean that they should become traders, one can simply stay in the market as only an investor and that's just fine, as long as you feel you are not very knowledgeable about the market and the cryptocurrencies, and you don't know how the market moves and when you should buy and when you should sell, you should simply stick to making investments and holding them for long-term instead of experimenting with your money and then eventually losing it.

There are people who are just investors, who simply buy Bitcoin when its low, and sell it when it goes high, and they don't do this in the short-term, but they buy in the bear market, and wait until the bull run so that they can get better profits. That is easier, and it doesn't need any technical knowledge or anything, basic knowledge about Bitcoin and the market is enough for you to do that because anyone can know when it's the bear market and when it's the bull run and then they should make their buys and sells according to that.

[bangjoe]

Trading is never a must, like everyone should enter trading because of its promising profits. But its certainly a choice, a choice not to enter trading and stick to hodling alone, or a choice to enter trading but on a more responsible manner.

However, just like your title says, quit trading, I don't think that's applicable for everyone. There are still traders who are motivated enough to pursue their trading career because they believe that they'll be future good and profitable traders, and hodling alone they don't see theirselves gain future satisfaction.

We definitely will not convince everyone to save their money and use a strategy that they will have an edge. Plus we're merely suggesting. If they still want to gamble with their money, then OK, it's their money = choose their path.

But with enough time and losses, we'll be here to tell them to Give HODL a chance.

Thanks for that...
 
We have quite a lot of perspectives here and yes some people believe in trading and still have great hopes in a career as a trader, they still have a very ambitious spirit in this field, so yes it's about life choices, because if you can make it into the pool of 5% of successful traders it will return the time in learning long enough.
 
BTW, I have doubts about my trading activities because last year was really bad for me, I wanted to quit and focus more on spot, but there is still a little hope, I trade with smaller volumes and focus on developing skills and strategies only not on the profits to be achieved like most people who end up losing when only talking about profits, I also consider what is in the OP that it is not only about technical analysis we also need better tools such as Glassnode and others and information sources such as some traders suggest having a Bloomberg terminal to access information faster.