A well planned patient trading can be profitable

[maydna]

He could be right but he needs to know the way and understand how to achieve it. No matter how much profit he want, he must have skills because that will determine you can make a profit or not. Without skills, he will difficult to profit and he might loses.

We can have a certain target we want but we should be realistic seeing how big the chance to profit so we don't feels hard. I prefer to take any profit I can instead waiting for days to take the profit even if the profit is bigger. I want to turn out the money so I can increases it through trading so taking any profit will be good for me and more realistic.

[Franctoshi]

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 prefer 5x 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.

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

The daily profit that I mean is totally monthly profit divided by 30 or total annual profit divided by 365.

You don't estimate profit based on daily results, rather at the end of each trading week and month, and depending on what that suits you.
How would a trader be profitable for a long time if patient isn't involved, the most rewarded people in the market are the patient one, not only about the little percentage that you target but also how patient that you're with your trading set ups.

[Odusko]

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.

Depending on the market volitility at the time of trading, and how many coins pair you choose to trade on, for me going for a single pair like Bitcoin definitely will give room for a trader to easily and less risk take such average of $3 daily,. Sometimes the average daily profits can exceed that amount depending on the traders risk tolerance and how their decide to handle their trades I mean they position seize and leverage usage.

[savetheFORUM]

Almost everyone who started trading at the initial stage thought of doubling our money in the very first month. We can actually see ways to do so but have no idea how difficult those paths are and there is failure guaranteed. Trading might seem very easy when we join newly because one might feel all we need to do is buy/sell while watching charts. They do not really think about the time they need to invest in order to read those charts and analyse own strategies. These people would barely have any plans.

A well planned trading has better chances of being profitable. Loss is still inevitable but a proper planning helps us in recovering or cutting short the loss. Only experience can make one plan their trades well so I think your friend would still spend a few months in mastering trading and he might once or twice blow his account still trying to double his capital.

[Big Dirams]

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 prefer 5x 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.

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

The daily profit that I mean is totally monthly profit divided by 30 or total annual profit divided by 365.

You don't estimate profit based on daily results, rather at the end of each trading week and month, and depending on what that suits you.
How would a trader be profitable for a long time if patient isn't involved, the most rewarded people in the market are the patient one, not only about the little percentage that you target but also how patient that you're with your trading set ups.

To label a trader as a profitable trader then such trader most make more profits than loses when their trading history is gone through either in months or years and profits is higher than loses. Constant profits doesn’t mean such trader is profitable because who knowns maybe he’s recovering from losses that he made days back. Our trading history is what determines either we are making profits in trading or we are just other traders that helps in fueling the knowledgeable ones.
 Being patient in trading is absolutely important and this patient still helps to allow us make positive decisions and not that alone but this patient can save us from some losses and provide us with profitable opportunities.

[Charles-Tim]

A well planned trading has better chances of being profitable. Loss is still inevitable but a proper planning helps us in recovering or cutting short the loss. Only experience can make one plan their trades well so I think your friend would still spend a few months in mastering trading and he might once or twice blow his account still trying to double his capital.

The problem I know many traders have is that they may be following their plans, but when they earn profits consecutively, they may later be thinking of making faster money, thinking trading is easy. They will gradually deviate from their trading plan and make just slight mistake that will make them lose huge amount of money. Many traders know ways to make money from trading, but greed will develop from winning and lose again. If a trading plan is well executed and the trader do not change decisions and if he is patient, probably money can be made.

[M47AK16]

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.

Doubling is possible but is not really that easy to achieve. Especially for the ones who have newly started trading, they can hardly double their money. Compounding on every trade would help doubling fast but that also comes with its own risk. If we land up in loss in any of those trades, we will have to start from square one. Seasoned traders find compounding a really useful way to double their money but we should be sure about our strategies and should also have exit-strategies planned before hand.

Making profits in every trade might not be possible. There would be a few trades with loss but those should be way less as compared to the profitable ones. Those loss making trades should not eat up the profit which is a real-situation with new traders.

[vs2014]

We shouldn't set any fixed profit target daily cause the market doesn't always offer opportunity to make profit. Some days can be profitable and someone may lose on other days. So trying to have daily profit may force a trader to take more unnecessary trades even when the market isn't in favour which may enhance the risk of losses. Better to focus on good traders with clear signals, money management and protecting the capital to survive long. Monthly or yearly target can be useful to track the progress but doubling capital within a month is highly risky. Patience always plays vital role to stay focused and avoid unnecessary trades

[nara1892]

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 prefer 5x 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.

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

The daily profit that I mean is totally monthly profit divided by 30 or total annual profit divided by 365.

You don't estimate profit based on daily results, rather at the end of each trading week and month, and depending on what that suits you.
How would a trader be profitable for a long time if patient isn't involved, the most rewarded people in the market are the patient one, not only about the little percentage that you target but also how patient that you're with your trading set ups.

Obviously I agree with you because however a risky activity will only be possible to succeed in facing when patience is involved, in the process of pursuing profit there will certainly always be losses that occur along the way and if someone is not patient enough then surely they will get carried away with emotions and in the end suffer big losses, in other cases when profit if for example they cannot help themselves (patience) then it could be that greed will control themselves and lead them to a bad end, so I agree that however the plan scenario in the pursuit of profit patience can never be excluded.

[batang_bitcoin]

5x annually is possible if you're a very active trader and doing that in a daily basis might exhaust you. But if you have all the time to do that trade, I only want to remind you that don't you forget to treat yourself by not aiming too much with it. I think the first to three months is going to be the hardest and you'll get most losses in that period. But once you're able to survive that, I think that you'll be able to make it for yourself and you'll reach that goal. 5x of gain these days is a lot and I'm glad to see people are no longer greedy thinking about 100x when they see the gains of others.

[leonair]

I prefer 5x 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.

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

The daily profit that I mean is totally monthly profit divided by 30 or total annual profit divided by 365.

The way you have calculated the profit of trading, when you trade, you cannot maintain things like this. When you have calculated for 1 year together, the matter seems normal to you and the amount seems big enough to you, but when you count the daily profit, it seems very small to you, which can never satisfy you. And when you lose a big amount for just a few cents, you will lose control of how much profit target you have taken daily. So you can never manage your trading according to your calculation.

[Ziskinberg]

A well planned trading has better chances of being profitable. Loss is still inevitable but a proper planning helps us in recovering or cutting short the loss. Only experience can make one plan their trades well so I think your friend would still spend a few months in mastering trading and he might once or twice blow his account still trying to double his capital.

The problem I know many traders have is that they may be following their plans, but when they earn profits consecutively, they may later be thinking of making faster money, thinking trading is easy. They will gradually deviate from their trading plan and make just slight mistake that will make them lose huge amount of money. Many traders know ways to make money from trading, but greed will develop from winning and lose again. If a trading plan is well executed and the trader do not change decisions and if he is patient, probably money can be made.

Greed will always be a barrier in trading. Once a trader influenced from it, trading for profits will eventually be replaced with trading as a loss. This is the reason why one should stick with his trading plans and goals from the very start. The only way he will change it is when he's seeing his strategies and skills aren't working, not when he's trying to be greedy because greed will definitely lead to an inevitable loss from trading.

[CryptopreneurBrainboss]

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.

That's a wrong mindset for him already. People can exercise patience for something that isn't profitable to them and they have no previous record to look at but then something that has many history behind it, is what they can't give patience to? No this guys aren't ready to be traders. Why look for 100% return in a month when they aren't professionals yet and have no or less experience, It's because of this greedy mindset that's why they keep losing and the market keeps making a mockery out of them always. There isn't a single trader that has been inpatient with the market and can boldly come out to say they're making profits. What a trader should be after is consistency in the profits irrespective of how small they're, long term success should always be the goal.

[Hamza2424]

Depending on the market volitility at the time of trading, and how many coins pair you choose to trade on, for me going for a single pair like Bitcoin definitely will give room for a trader to easily and less risk take such average of $3 daily,. Sometimes the average daily profits can exceed that amount depending on the traders risk tolerance and how their decide to handle their trades I mean they position seize and leverage usage.

Bro, making $3 daily is easy, but if we stick with one coin like BTC, then we really have to wait and wait, like we are just waiting for that one opportunity and we will die for it, and in such a situation, we make wrong trades too.

Because our mind is so focused on meeting our targets, what I do in this situation is not set a target, because targets are bad. But without a target, we won't stop trading either, so let's say I set a target, but bro, I won't restrict it to a single pair only because finding opportunities on a daily basis can be time consuming from a single pair. That's why, in peak times, I will look for opportunities in other pairs as well.

[Questat]

We all know the very goal of trading is to earn income and maximize profits, but the problem is we are trading in such an unpredictable market, so the outcomes aren't guaranteed that it will be align with our expectations and plans. And setting a daily target of profit will only create a lot of pressure and may lead to anxiety once losses are uncontrollable.

My point is, its good to be patient and plan your trade, but never expect too much from it. Simply because, not all trades are considered positive trades. Some are just distractions and are there to divert your focus on the market, thus losing is highly possible.

[Maslate]

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.

Your math is wrong. If you prefer 4x annually, that means $300 in profit, and if you divide that by 365, that's only around $0.82 daily.

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.

This makes more sense. Targeting daily profit from trading has no guarantee that it will definitely be realized at the end of the day. You are just putting so much pressures and stress on yourself if you are really doing that kind of trading. Expect some profits, but do not assume fixed amount, as well as be open to losses as well since trading isn't profitable all the time.

It pays to be patient in trading and stick with a good plan, but never forget that trading is partly the same with gambling, losses are big compared to wins.

[JeffBrad12]

I don't even know if I can profit daily, I don't have fixed target, do people really have fixed target for the month? if I'm profitable then I'm profitable, no daily target because I can't be sure I always make profit and trying to achieve target will make me trade in haste which isn't good for me.
I trade and I reconcile the result by the end of the month and see how much I gained from my capital for the entire month and take it, no target.

[goldkingcoiner]

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 prefer 5x 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.

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

The daily profit that I mean is totally monthly profit divided by 30 or total annual profit divided by 365.

Patience is easier said than done for most traders, especially in a volatile investment vehicle like Bitcoin. And I can completely understand when you see your money go up or down by 50% in a matter of hours/days it can be quite exciting.

Knowing onself and one's emotion, especially how to keep them in check, is the most important thing in trading. At least I believe that.

[Karl_3000]

I don't even know if I can profit daily, I don't have fixed target, do people really have fixed target for the month? if I'm profitable then I'm profitable, no daily target because I can't be sure I always make profit and trying to achieve target will make me trade in haste which isn't good for me.
I trade and I reconcile the result by the end of the month and see how much I gained from my capital for the entire month and take it, no target.

I have seen a trader before that have a daily target but it is a very small amount of money to what he has. This guy is earning at least $50 daily but having more than $10000 in his trading account. There was a time that I wanted to try $1000 to be earning $5 daily, but as little as it was to me, I lost money so much to the point that I quit trading. Daily target is very dangerous but you can have annual target. Anyone that is trading and do not make money, the person should stop. Trading is very risky.

[uchegod-21]

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 prefer 5x 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.

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

The daily profit that I mean is totally monthly profit divided by 30 or total annual profit divided by 365.

Except what you truly mean by your daily profit here is by divided the total profit you got for the month or year by 30 or 365 as the case may be, not actually by giving yourself a daily target like some traders would do, then I don’t have a problem with your calculation. As a trader, it is good for you to plan well for your trades, however setting daily or weekly targets will just be you setting yourself up for an unnecessary pressure and emotional stress. The market doesn't care about your emotions or your targets, some days may not be good for you, it is okay to accept that that was a bad day. Daily profit targets triggers you to overtrade; never fall into such trap.

Having a long term goal is better, that is why I said if your calculation means dividing what you got at the end of the month or year by 30 or 365, it is absolutely fine. No pressure and you understand that you don't need to get same amount of profits everyday. Some days you get 1$, 2$...and some days you get nothing.  Pressure is one of the greatest enemies of a trader.