Being a good trader ≠ being wealthy

[JeffBrad12]

If you're really a good trader you will be wealthy . If you consistently outsmart the market, the compounding effect will start to kick in, your $20k will become $20 mln in no time because you are good trader. real reason why some self proclaimed good trader aren't wealthy yet is because they're not really good trader, actually none of us here are. We just trade, speculate everyday, hoping some will stick and make a one hit wonder, do you really believe someone could consistently outsmart the market and deserve the title of a good trader? i do but maybe 1 in 1 million and they're wealthy.

[TheUltraElite]

Real wealthy people are silent.

Yup, most of them dont even know or bother about forums like this one.

And the reality with all of these trading instructors, most of them are not good enough to make trading as a living.

Those who are selling their courses are making money from selling the course not the content of the course because that is bogus and can be learnt for free by observing and dummy trading. That is why the prices will be like 200$ --> 20$ - like WTH, how can you sell at 1/10th of the original price? Because it is not even worth a single dollar.

That is why I give more emphasis on being consistent with trading and understanding how the market works.

Instead of rushing in with a hardon to make money over one-night, because that leads to acquiring an STD (Sudden Trading Demise)

[Donk1]

The problem about trading myth on social media that you can sit in the comfort of your house and be making hundreds and thousands of dollars everyday is very unrealistic, newbies who believe these lies ends up blowing their accounts in the process of high expectations. Trading is hard and not for everybody, if you understand this simple truth you can avoid being misled by influencers on social media who are paid to influence the public to enter into trading. If a new trader is mentored by experienced traders I'm sure that they won't start trading with more than the amount that they can afford to lose.

Well I think perhaps everyone keeps getting the wrong idea most especially newbies. We can all agree that the purpose of trading is to make profit but then, as a beginner that should not be your goal presently. No it should be something you want to build so it can become long term, not short term and the only way to do that is to focus on learning. That said being successful in trading doesn't only come from being wealthy it comes from your everyday achievements, both losses and wins. Like a friend of mine said a person who isn't prepared to lose doesn't have a chance of winning, and it's true. In conclusion capital is one of a major source of being a trader. If you do not have a steady source of capital then you will probably just keep trading with demo, which wouldn't in any way help you build your emotional control when you start trading with real capital. So to me it's all about how you set your foundation in trading. That's all.......

[CryptoBuds]

If you're really a good trader you will be wealthy . If you consistently outsmart the market, the compounding effect will start to kick in, your $20k will become $20 mln in no time because you are good trader. real reason why some self proclaimed good trader aren't wealthy yet is because they're not really good trader, actually none of us here are. We just trade, speculate everyday, hoping some will stick and make a one hit wonder, do you really believe someone could consistently outsmart the market and deserve the title of a good trader? i do but maybe 1 in 1 million and they're wealthy.

Heh, sounds harsh as hell, but that's the truth and I totally agree with you.

A truly good trader should be wealthy, no doubt. Because to be frank, trading is one of the fastest ways to get rich, and that's exactly why so many of us jump into it despite all the risks that come with it.
So if they are actually that good, getting rich is totally on the table.

Anyone who claims they are good trader but then comes up with a million reasons why they're still not rich is either just a lousy trader or simply not as good as they think they are.

[Hyphen(-)]

If you're really a good trader you will be wealthy . If you consistently outsmart the market, the compounding effect will start to kick in, your $20k will become $20 mln in no time because you are good trader. real reason why some self proclaimed good trader aren't wealthy yet is because they're not really good trader, actually none of us here are. We just trade, speculate everyday, hoping some will stick and make a one hit wonder, do you really believe someone could consistently outsmart the market and deserve the title of a good trader? i do but maybe 1 in 1 million and they're wealthy.

Most times, it is not true; you can be a good trader and still not wealthy, it means you know how to trade not how to make more profits from trading.

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.

[#CapsLOck]

It's a little something that's overlooked. And that is the distinction between making a return and building wealth. Even a trader with a genuine edge must still maintain his capital. Make a proper withdrawal and manage the money that flows out of the market. If the money generated from a good trading month is reinvested in riskier trades. It's not going to build a fortune. After making the money. Managing the capital can prove to be of equal importance as the trading skill it represents. In that regard.

[Swordsoffreedom]

If you're really a good trader you will be wealthy . If you consistently outsmart the market, the compounding effect will start to kick in, your $20k will become $20 mln in no time because you are good trader. real reason why some self proclaimed good trader aren't wealthy yet is because they're not really good trader, actually none of us here are. We just trade, speculate everyday, hoping some will stick and make a one hit wonder, do you really believe someone could consistently outsmart the market and deserve the title of a good trader? i do but maybe 1 in 1 million and they're wealthy.

Most times, it is not true; you can be a good trader and still not wealthy, it means you know how to trade not how to make more profits from trading.

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.

To me, being called a good trader means you don't just understand the market inside out, but you actually pull off substantial and consistent profits from it. Otherwise, it's kinda hard to call yourself a truly good trader.

A good trader doesn't necessarily have to get stinking rich overnight, because everybody needs time to compound and build up their capital. But if after years of trading they still can't grow their wealth and are still struggling just to survive in the market, then I don't think they can really call themselves good.

At the end of the day, the ultimate goal of investing and trading is making a profit. So the results and the wealth they actually build is what proves who they really are.

[batang_bitcoin]

Real wealthy people are silent.

Yup, most of them dont even know or bother about forums like this one.

You're right, they're probably doing something else and with a newly found hobby. But I am sure that we've got wealthy forum members too.

And the reality with all of these trading instructors, most of them are not good enough to make trading as a living.

Those who are selling their courses are making money from selling the course not the content of the course because that is bogus and can be learnt for free by observing and dummy trading. That is why the prices will be like 200$ --> 20$ - like WTH, how can you sell at 1/10th of the original price? Because it is not even worth a single dollar.

That is why I give more emphasis on being consistent with trading and understanding how the market works.

Instead of rushing in with a hardon to make money over one-night, because that leads to acquiring an STD (Sudden Trading Demise)

They are marketing genius, they're making the buyers hurry as if the discount is for real and worth it with that current pricing.

[letteredhub]

If you're really a good trader you will be wealthy . If you consistently outsmart the market, the compounding effect will start to kick in, your $20k will become $20 mln in no time because you are good trader. real reason why some self proclaimed good trader aren't wealthy yet is because they're not really good trader, actually none of us here are. We just trade, speculate everyday, hoping some will stick and make a one hit wonder, do you really believe someone could consistently outsmart the market and deserve the title of a good trader? i do but maybe 1 in 1 million and they're wealthy.

Heh, sounds harsh as hell, but that's the truth and I totally agree with you.

A truly good trader should be wealthy, no doubt. Because to be frank, trading is one of the fastest ways to get rich, and that's exactly why so many of us jump into it despite all the risks that come with it.
So if they are actually that good, getting rich is totally on the table.

Anyone who claims they are good trader but then comes up with a million reasons why they're still not rich is either just a lousy trader or simply not as good as they think they are.

In my perspective of a good trader I don't know if being rich as a criteria doesn't seem too rigid and bias for those traders that don't really have a big capital but are managing the small they have but are having more winning trades with less losses than can't be quantified with to half of their won trades percentage. There are traders that ain't pressured to making big lot size of trades (increasing trading risk), they're good risk managers and are contented with even a 5% profit for an entire week trades done. Does that makes them no good traders because they are not wealthy?

[Faisal2202]

$20k into $20 million based on skill? Yeah, it is possible, but it will take a sheer amount of time for someone to make that kind of money, but if someone says in less time, then that's not skill, but someone must be taking high leverage, and their luck was insanely good.

I can't agree more that a skilled trader diversifying into multiple income streams will be flagged as suspicious, while a newbie who bought a Lambo, visited Dubai, rented everything, not even bought, they can show off and can sell their course.

People will go toward the traders who will show off, because they see all those assets and now they assume how the story will be like, while for the skilled one the math never gets questioned, and even for the show off guy.

[Cgrexp]

If you're really a good trader you will be wealthy . If you consistently outsmart the market, the compounding effect will start to kick in, your $20k will become $20 mln in no time because you are good trader. real reason why some self proclaimed good trader aren't wealthy yet is because they're not really good trader, actually none of us here are. We just trade, speculate everyday, hoping some will stick and make a one hit wonder, do you really believe someone could consistently outsmart the market and deserve the title of a good trader? i do but maybe 1 in 1 million and they're wealthy.

Heh, sounds harsh as hell, but that's the truth and I totally agree with you.

A truly good trader should be wealthy, no doubt. Because to be frank, trading is one of the fastest ways to get rich, and that's exactly why so many of us jump into it despite all the risks that come with it.
So if they are actually that good, getting rich is totally on the table.

Anyone who claims they are good trader but then comes up with a million reasons why they're still not rich is either just a lousy trader or simply not as good as they think they are.

In my perspective of a good trader I don't know if being rich as a criteria doesn't seem too rigid and bias for those traders that don't really have a big capital but are managing the small they have but are having more winning trades with less losses than can't be quantified with to half of their won trades percentage. There are traders that ain't pressured to making big lot size of trades (increasing trading risk), they're good risk managers and are contented with even a 5% profit for an entire week trades done. Does that makes them no good traders because they are not wealthy?

If the criterion of a trader is only being rich . The skill of a trader is better understood not by the amount of capital but by how he manages that capital and how consistently he is able to implement his decisions over a long period of time. The capital may be small, but if he can determine how much risk he should take on each trade within that limited capital, avoid big losses and maintain a disciplined balance between profit and loss. Then there is no reason to deny his trading skill just by the amount of assets. Being aware of your limits and not taking unnecessary risks is an important part of risk management. It would not be right to call his performance bad because someone else has made more money. How he manages his capital and how consistent he is in the long run is a more meaningful basis for evaluating the skill of a trader.