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Author Topic: Being a good trader ≠ being wealthy  (Read 1092 times)
9ja Amaka
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September 22, 2026, 05:29:56 PM
 #101

Honestly, I did not expect to see this mindset so often on a forum like this. This is one of the oldest crypto communities around, and you would expect people here to understand these things better than the average person.
Why not? This may be the oldest forum but some members who are in the forum are new members who wants to learn about crypto trading. You can't be expecting a newbie to know many things. After all, there are many thing you do not know about trading. No man is an island that is why this forum was made for learning purpose.

There seems to be this idea that if you are genuinely a good trader, you should naturally have a boat, a villa, luxury trips, and all the other things that social media associates with trading success.
It is as a result of the social media age that have made many new traders believe there is instant wealth when they start seeing some profit from trading. The trading influencers I know use wealth to make newbies believe there life will change instantly like theirs if they start trading. They flaunt cars, yacht, houses, all finer things online. In realty it is not so.

JeffBrad12
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Today at 03:38:02 AM
 #102

Remember that Capital is one thing that determine the amount of profit you will make from any trade you do, and if you don’t have big capital to trade, no matter how good you can be as a trader, you will have to manage little profits and try building your capital before you can start earning big profit, and you don’t expect profit to come in all trades, losses do come as well, it is part of the game; therefore, as a good trader, if you don’t have village capital to trade, you will have to build gradually, and also having big capital doesn’t also guarantee becoming wealthy because you need to be very cautious and study the market well to avoid losing your capital.
Again, the compounding effect will make the initial starting capital not an excuse, a $1000 capital if you could consistently get 10% profit everyday, it will become $304,481 on day 60 with compounding effect, remember 10% is considered small by self proclaimed good trader on the internet, yet it compounding into whooping $304,481 in no time. If you are good trader, of course I expect your win rate to be somewhat at the higher side, even a 1/4 of this compounding effect already puts you way ahead of the general traders, I don't see the capital as an excuse.
BitBakerr1
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Today at 02:44:42 PM
 #103

Some people because of greed and wanting to make money very fast they decide to jump into trading with huge amount without learning a mastering the trading skills that is needed for them, and they end of losing all their money.

Trading has made some people broke so people should be careful.
But if they do proper research into trading, doing so can help them gain knowledge and understanding of trading. It will help them to have the mindset that trading is not simply about luck, rather, trading requires skill, determination, patience, and risk management. This can help them become successful and better traders.
Is not only about doing research, It is about going for training and studying it very well.
And again you need to start it with a little amount of money because to get full experience of trading you need to start it and the experience you gather from the trading you are doing will help you become better.
Some people when they started trading, they were not perfect but when they continue doing it for a long time, they became perfect and started making money from it.
People should learn to use the money they can afford to lose to trade.

 
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Dr.Bitcoin_Strange
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Today at 03:06:52 PM
 #104

It's not everyone that actually think like this, although this kind of mind set is common among beginners who thinks that trading is a get rich quick scheme whereas it's not, before I started trading, I used to think that profitability is so easy because price usually move all the time but it was after I started trading that I understand how difficult it is to be consistently profitabile. So, those that truly understand the system of trading would not tell you that being a good trader automatically means being wealthy. Only a few retail traders are able to achieve wealth through trading and it did not happen overnight.

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Bushdark
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Today at 08:46:40 PM
 #105

It's not everyone that actually think like this, although this kind of mind set is common among beginners who thinks that trading is a get rich quick scheme whereas it's not, before I started trading, I used to think that profitability is so easy because price usually move all the time but it was after I started trading that I understand how difficult it is to be consistently profitabile. So, those that truly understand the system of trading would not tell you that being a good trader automatically means being wealthy. Only a few retail traders are able to achieve wealth through trading and it did not happen overnight.
Those that think trading is a quick way for them to make profits need to have a rethink before venturing into trading activities.
Learning is a prerequisite in trading and anyone that is not ready to learn would continue to complain about their inability to make profits consistently from trading. Many of us had made mistake in the past that was unbearable and we are in an era when people can easily source for information online without looking for a physical teacher to help them with their problem.
Trading is a skill that need to be learnt well and any mistake or missing information can lead to future problem that can contribute to consistent loses.

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