A well planned patient trading can be profitable

[Charles-Tim]

Traders usually have the short term goals over the annual ones so they are going to aim for the short term whether it is 2x or 10x, because anything is possible for sure.

This is the reason almost all of them are losing. I mean people that are trading, especially those that called themselves day traders. As a trader have short term goal, the trader also need to have long term goal. There are many traders that will trade and make money, but in few weeks after, all the money will be lost.

But for a day trader I would recommend to keep their goals around 10% which is realitic to achieve for sure they can simply trade bitcoin against a stablecoin pair and just need to make sure they grab as much as swing possible.

10% over what period of time? Or you mean 10% daily profit?

[9ja Amaka]

Don't we think a daily target is risky and that is why many traders are losing.

Without anyone to tell me, daily target is the highest risk. This is why i prefer swing trading. The daily trading has been the main reason why many will never get profitable in trading. Waiting for market sentiment to know the right direction the market will go plus aiming for little profit is more reasonable to make longterm profit.

Someone and I were discussing about trading, he told me what some other traders have told me before. I told him it is the reason he is losing while trading. He wants to double his money within a month. Is this possible? Yes, but the probability of losing is very high.

There are actually traders who set this target and meet the target. There is level to these things to be sincere but these peps are few in the world. Trading is an act that requires mastery. When you've mastered the act, targets are met.

[BTC FutureKing]

The market does not always work in one's favor on any given day, making consistent profits seem impossible. No one can control market scenarios, even when simply aiming for small, consecutive gains.

Some people will know about trading and because of that, they will learn about it because they want to make money from it daily. Instead of making money from trading, they will be losing. This is what I have known about many people that I know that are trading. There is nothing better than to hold your coins and be patient, instead of trading.

Knowing and learning about trading is not a bad thing, although making money from it is not a loss, but when you cannot benefit from it and your money is running out again and again, then your patience and learning are harmful because when your learning and knowledge are not making profit in trading for you, then your learning is not getting much benefit. There are many interesting things that people have told about trading, but many of them are also lies, so trading is not an easy task. It has two different futures and feelings, which everyone feels good and successful, and when there is a loss, everyone gives up, but a skilled and patient player never gives up and he tries his best to turn his loss into profit, and this is the real success, learning it and making a good plan and taking advantage of it.

[Findingnemo]

Traders usually have the short term goals over the annual ones so they are going to aim for the short term whether it is 2x or 10x, because anything is possible for sure.

This is the reason almost all of them are losing. I mean people that are trading, especially those that called themselves day traders. As a trader have short term goal, the trader also need to have long term goal. There are many traders that will trade and make money, but in few weeks after, all the money will be lost.

But for a day trader I would recommend to keep their goals around 10% which is realitic to achieve for sure they can simply trade bitcoin against a stablecoin pair and just need to make sure they grab as much as swing possible.

10% over what period of time? Or you mean 10% daily profit?

I mean the monthly target, that is an optimal level for anyone to achieve even with not much of complicated trading style. Most of the crypto day traders don't have any other source of income and they heavily depends on the profits from trading but even if someone who is the besat can't keep making consistent numbers that is why no one should keep crypto trading as their only source of survival.

[Bigjoe33]

I prefer 4x annually. That means from $100, you need to make a profit or $1.1 daily. But I also like 2x which is $0.55 profit daily. Which means patience and using low amount of money to trade.

And you cannot really compute daily profit as if it's guaranteed. Better just focus on the long term since you are talking about one year. If you look at it daily, sometimes you are in profit and sometimes you are in loss, so it doesn't really make sense to expect a fixed amount every day. Just go for the long term, evaluate after a year, and see if you really hit the target.

You and I knows that daily profits can never be possible, never. If you make profits today, it might even be above the required percentage you are looking for, but nothing is promised tomorrow, or next or even the following day. And to an extent, chasing these daily profits makes some people keep losing money daily and steady.

I remember how it happens in sports betting. You bet a game, and maybe 5 matches or 10 in one slip. And while matches starts, you find out that the 2nd game in the slip has lost, while 8 more games have not yet started. There is this feeling that if you rebet that game, you may finally win. And so, you rebet, and this time, you stake higher so that you can meet up the initial potential winning because 1 or 2 games are out. If the middle game losses again, you keep rebeting till you spend a whole lot of money just pursuing daily profits. The same thing may likely happen to the trader that wants to pursue daily gains so to meet up his months or annual net profit.

You just said it all. Forget daily gains and do an annual calculation and see wether you made profit or loss.

[nara1892]

Actually it will not be too difficult if for example you are right - really skilled and have a lot of knowledge about how to enter the market at the right time but yes I also admit that to get $3 with a capital of $100 is a bit heavy, once in a while maybe it can but if within a full month it feels it is not possible, you have to find a very good moment with a fairly high increase and obviously it is a rare situation in the market, the point is that nothing is impossible but that does not mean we are also unrealistic in setting targets.

[IjawMan]

Making a profit of $3 by trading daily with $100 is definitely very difficult, because day trading is huge risky, it can be said that consistently winning is impossible in crypto trading, so I think the target of making a profit of $100 in 30 days is not easy, rather the possibility of loss is much higher, because trading is not like that you can make a profit even $0.50 every day, suddenly you can lose $10-20$ just in a day. So I think one should not take the target of multiplying within a specific time in trading. Then it becomes somewhat like gambling, because in gambling, we easily set a target of 3x or 4x profit in a short time. It is definitely true that one who trades with proper planning and can control themselves can definitely be successful in the long term.

Trading is difficult if we are to be honest about that  and taking a trade every day with an aim of making an average amount can be too tasking and call lead to bad trade, which you have already broken down.

It is much better to pick on a monthly profit something 2x above my losses rather to focus on an everyday profit which can be daring.

In a volatile market like the cryptocurrency market a trader can get into a one time big loss that can clean out all accumulated profits from many previous trades

[Jegileman]

Trading is risky and no matter how you try to reduce the risk associated with it, it is even becoming even more scarier. As for the case of this your friend, what you need to understand is that having a daily target could really spoil everything and you may still need to consider losses that comes while trading. One thing we should understand is that you can’t be winning everyday, you will definitely face losses which you can’t escape as a trader. The daily target for a deposit of $100 is relatively looking small in my own opinion, so having same target may not still be bad but an overall monthly target should be what is targeted more than targeting daily. It gives you the liberty to also manage your well while also having an overall monthly target advantage in the long term.

[Arenga pinnata]

Hoping to double our trading capital within a month is simply too hasty a move. That’s because it would require a sufficiently high trading volume or, in the futures market, it would necessitate using leverage more aggressively. Personally, I don’t like taking risks like that. Even achieving a 1% profit per day is actually quite difficult for me. The challenge here is that I have to achieve it consistently every single day. So I’ve shifted my trading strategy to swing trading. Sometimes I buy today and sell a few weeks later, or next month, or when the price reaches a level that’s attractive enough for me to sell. And well, usually that only gives me a few percent in profit, at most just 10 to 20%. Most of the time, it’s even just around 3–5%. But I’m always pretty satisfied because I only trade on the spot market. Even though that means I’m pushed to use more capital, earning a few percent per month is the most realistic goal for me, since I don’t have much free time. Besides, trading is just a side job, so I don’t think there’s any need to rush. And we know that those who rush may seem to make quite a bit at first, but they usually end up losing even more in the end.

[Rengga Jati]

Someone and I were discussing about trading, he told me what some other traders have told me before. I told him it is the reason he is losing while trading. He wants to double his money within a month. Is this possible? Yes, but the probability of losing is very high.

How much? That is certainly possible within a month. But, with the condition that your friend actually possesses the necessary trading skills. Otherwise, it may be only  a wishful thinking. Or it could end up being nothing. More than gambling that relies on luck.

You have $100 to trade but you want to earn $3 from it every day to make it $100 monthly. That looks small, but when you begin to trade, you will understand that it is not easy to achieve that. Are you achieving it?

I am not an active trader. So, this may depend on the code of the market. On the other hand, for the future market traders. this may make sense. But, the risks are also higher. the loss possibility is higher. It is too simple. The formula is: high profits = high risks. Once again, this is just a calculation on paper. In reality, things could be very different, because there is a lot of pressure once you enter the market.

[Alphakilo]

The question is in the topic of this post if you look closely, because a well planned strategy for trading that promises good return even in the tiniest bit, would have undergone both backtesting and forward testing stages, before a good amount is used to try out the strategy in a trading market scenario for any potential gains one has in mind.
From the failure or success or lapses in the strategy, a trader can tell if the percentage of losses might be sustainable and not as high as the percentage of gains, or if the strategy needs revisions and that's not to ignore risk management practices along the line.

In essence, if the strategy is good, then there's a possibility of making good gains from consistent trading but capital and emotional management as one of risk management practices must be in mind.

[Zoomic]

While some of the things you said are valid, it's really not advisable to make your daily target too important.

When a trader has a daily target, they sometimes make costly mistakes by trading everyday even on days they obviously doesn't see enough signal just because they have a target number to reach.

Profit if you ask me should be best measured over a long period of time while daily targets can serve as simple guideline, it's okay to finish some days at $0.

[Russlenat]

You know the very wrong here is expecting guaranteed profits from trading when most of the times, trading end up a loss. While its good to be patient when trading, but let us not assumed also that in every trade there is guaranteed returns, that's not how trading works.

And setting a daily, weekly, monthly or yearly target may be good for some well experienced and professional traders but personally, its much better to never set some targets, otherwise you will be pressured and lost focus on your trades. Trading outcomes are still very unpredictable.

[RazerMouseMobile]

Someone and I were discussing about trading, he told me what some other traders have told me before. I told him it is the reason he is losing while trading. He wants to double his money within a month. Is this possible? Yes, but the probability of losing is very high.

You have $100 to trade but you want to earn $3 from it every day to make it $100 monthly. That looks small, but when you begin to trade, you will understand that it is not easy to achieve that. Are you achieving it?

I want to share something about this one because I have my own experience about this one

We have the same mindset as your friend - doubling my $100 in a single month, and TBH, I achieved it in the first month. I got my $100 went to $220 at one point, and I'm so happy that I achieved it. Here comes the second month, I'm thinking that I want to double my current capital of $220, and that's where disaster happens. Losses after losses, and that's because of my wrong analysis and that's normal for a trader. What's not wrong is that because I want to achieve my monthly goal, I made decisions that's not within my rules. Positions that are way higher than the usual, risks that are higher, and those didn't end up pretty well. Ending? My $220 went back to less than $100 after that month, then the succeeding month, I lost it all.

Is it possible? Like what you said yes, and I have achieved it, but what I will say is that it's not consistent, and if you will ask me, it would always be better to have a realistic goal especially in trading where profits aren't certain.

[PERtua]

I believe there's another distinction that needs to be made here. Between return and risk. When you break it down. A 2x target or a 4x target isn't that hard to achieve over a period of 365 days. But the journey to it is what's important. For instance. Someone earning 50% and then losing 30% does not equate to a consistent compounded 20% gain. The size of a position and the degree of risk for each position should thus be monitored along with the profit target. If not. The trader can achieve good returns on his trading without taking undue risks.

[ObeyKnock]

where you chase after your losses to meet up your targeted profits.

Its not just psychological either. Losing money in trading also means needing to "make back" a bigger % on your next trade. For example:

Lose 10%, you need a 11% winner to get back to zero.

Lose 20%, you need a 25% winner to get back to zero.

Lose 50% and you need a 100% winner to get back to zero.

You get the picture.

So, for instance, if you widen your stop because you didnt hit your daily trading target then your now in a situation where your next trade needs a bigger winner to make back what you lost. If you force that trade and its a loser, then boom, your whole weeks or months profits wiped out. Trading from a loss isnt just harder psychologically but also mathematically and that combination can be exponentially destructive. Trade off your plan, never off your losses.

[Nrcewker]

Do you think he is right but not just understand how to make 2x return monthly?

Doubling your money in a month is achievable but yes, the risk he needs to take on his trades should also be higher. People need to understand that risk and returns are directly proportional to each other. If we lean towards higher returns then high risk wont leave our backs.

You have $100 to trade but you want to earn $3 from it every day to make it $100 monthly.

This is still achievable when the bankroll is just 100$. A 3% daily profit is a good daily profit target. But once the bankroll becomes large, lets say 10000$ then taking risky bets to make 3% makes me think twice about my actions before doing that.

[Gozie51]

Don't we think a daily target is risky and that is why many traders are losing.

It does not mean you should target profit daily, that may be very hard to do. You will do the average of it. There are some days that you may not want to trade also. The average will be used to calculate the daily profit.

Again, some trade order may be highly profitable above the suppose daily target which is used to support your losses or days that you didn't profit up to the daily target.

Yes I already said it there.

A trader can support his bad trading day with what he made extra on another trading day. So the point is not to be determined to always hit a daily target because if the mindset is built that way, the trader will only be forcing himself into the market at even times that he is not suppose to be there because his eyes is on set target. He will end up losing and starts to chase the loses, that will change his trading strategy, more loses is what will become his experience.

[Oshosondy]

Again, some trade order may be highly profitable above the suppose daily target which is used to support your losses or days that you didn't profit up to the daily target.

Yes I already said it there.

A trader can support his bad trading day with what he made extra on another trading day. So the point is not to be determined to always hit a daily target because if the mindset is built that way, the trader will only be forcing himself into the market at even times that he is not suppose to be there because his eyes is on set target. He will end up losing and starts to chase the loses, that will change his trading strategy, more loses is what will become his experience.

You did not understand me. You can go through what you posted that I quoted if you want to understand me. You posted that aiming for profit daily is risky, that is what I quoted, that I am referring to average profit. Example is total monthly profit divided by 30 or total annual profit divided by 365 days.

[terrific]

Do you think he is right but not just understand how to make 2x return monthly?

You're right indeed there.
Doubling it in a month can be done but that's going to depend on his knowledge and as well as the situation of the market.
IMHO, it shouldn't doubling that he's focusing but with the little gains that he can get in a daily basis is better.
Even it's only 1% or 2% or 5% as long as these gains are stable, he'll get there to the goal that he's trying to aim.
And the example that you have given is perfect. Little gain is better than losing wholly, isn't it? that's the logic.
As long as the average is profit, that should be the goal.