Quit trading discussion thread

[stadus]

That's a good piece you have there. Though it might not be as easy as you think, it is still good to, at least, follow/practice, as trading and all other things that are psychological are not easily approached with a certain blueprints.

We've seen some failing and devastated traders who later found their secret sauce, and we've seen many of them who would never find it, so I believe, above all things, as we are all finding the right system, we should, above all, work on limiting our risks and embrace adequate account management. Anyone limiting their risk while they try their luck in trading will have both good and bad days, but the bad days will not be as bad to warrant devastation to their finances.

It only tells that trading is not for everyone. Some are consistently good at it, while others are obviously enduring the losses while they are learning to navigate the trading market. But at the end of the day, there are just traders who never fit in trading, so let's be realistic here, quit trading and find another side hustle that will guarantee profits, even without consistent losses at first.

Trading is good and is certainly more profitable compared to just investing alone, but trading will also make you poorer than ever especially if you realized late that you're not supposed to stay trading in such a volatile market.

[Karl_3000]

Trading is good and is certainly more profitable compared to just investing alone, but trading will also make you poorer than ever especially if you realized late that you're not supposed to stay trading in such a volatile market.

Trading is not good the way you said it, many people will trade to only fail. The problem about their failure is that they will not accept it but they will continue to trade and they will lose, hodling is profitable than trading for most people. I was taught how to trade few years ago but it was a terrible thing for me. One bad thing about trading is that you will use demo account make unreal money but when you use your money account for it emotions will make the trader lose. If you start holding bitcoin you will see how it is profitable during bear market just hold and keep holding in time like this and wait for 3 years.

[yhiaali3]

Thank you for all these helpful hints. I have suffered from most of the problems you mentioned in these hints and I am still trying to get rid of some of them. I have become somewhat addicted to trading and whenever I decide to stop I find myself going back against my will.

My main problem is chasing winning coin trends on Binance, which causes me to lose every time. So I programmed a simple Chrome extension that disables the "New" and "All" tabs on the Binance platform, so that when I click on them, instead of the list of coins appearing, a message like "Beware of risk or gambling" appears to warn me of the risks, and I have indeed found it useful to me so far.

[Don Pedro Dinero]

It’s interesting to see this thread coming from someone I had a bet with—which he lost—that arose from a debate on this very topic. For retail investors, trading is a terrible idea; it’s like putting your money on the table just to burn it. The problem is that many fall into the marketing trap. There are plenty of influencers paid by firms who sell you the idea that with a little capital and some learning, you’ll be able to live a life of luxury by executing trades from wherever you like.

The reality is that a retail trader is competing against high-frequency algorithms and powerful AI used by hedge funds, as well as sufficient capital to move the market.

But it’s exciting. The safe way to make money—which is long-term investing with DCA—doesn’t sell as well, because it doesn’t generate as many commissions, so it isn’t promoted. And it’s much more boring.

[Alphakilo]

Thank you for all these helpful hints. I have suffered from most of the problems you mentioned in these hints and I am still trying to get rid of some of them. I have become somewhat addicted to trading and whenever I decide to stop I find myself going back against my will.

My main problem is chasing winning coin trends on Binance, which causes me to lose every time. So I programmed a simple Chrome extension that disables the "New" and "All" tabs on the Binance platform, so that when I click on them, instead of the list of coins appearing, a message like "Beware of risk or gambling" appears to warn me of the risks, and I have indeed found it useful to me so far.

Am sure you are  proud of your achievements a far in countering the addiction of trading instead of seeing it as gambling and treating it as such. A disciplined approach is what's important in the end to understand ones psychology and act accordingly and that's what you have done so far without using someone else's tools but your knowledge and wits.