A well planned patient trading can be profitable

[Natalim]

2x return monthly? See possibility is always there but realistically speaking, the chances are low.

Of course one might end up buying some random asset and it rises such that the trader sells it to realize a 2x profit. But at what cost?

The market does not determine who is going to make money today or in 30days. It is not like a mill churning out flour every day. It is a speculative market and one needs to the seize the correct time and price at both buying and selling.

Simply put, profitability is never guaranteed in trading. Yes, it can be profitable at some point but how often?  This is the reason why trading can be link into gambling since the chances to lose is high while leaving the rate of winning very low.

If you aim to double your returns within a month, get more side hustles and gain multiple income. Maybe that way, your ideal returns will be met. Trading is good, but it's hard to expect returns at all times.

[Audrey Simmons]

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

There is no need to measure how many returns you want to get within a specified time frame. When you start counting dates on your profits, it makes you trade outside your strategy, all because you need to catch up with the profits according to how you have planned and dated to make returns.

Trade the market when there is opening, instead of chasing daily profit, that's how you survive without draining your funds.

[Barikui1]

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.

Personally I don't place any target when trading because it puts you under unnecessary pressure which might make you take trades you shouldn't have taken on a normal day, but because you just want to make money and get to your profit target, you will venture into a trade that may liquidate you or better still make you lose all the money you have already made and even part of your margin, so I do trade with target, but setting a timeline to achieve a profit target is what I do not do as a trader, because it's not a healthy practice.

[Bright0515]

Developing a profitable strategy isn't easy, there are several hurdles you would have to go through to be able to achieve such and in most cases people end up incurring a lot of losses before they can get this strategy, what differentiates those that's succeeds and others that do not is consistency. A well planned trading does not always guarantee profits but it would definitely increase the chances of being in profit. Trading isn't something that you rush into without critical thinking, if you cannot be patient enough to do proper analysis before placing your trades then you are only gambling.

[Big Dirams]

Developing a profitable strategy isn't easy, there are several hurdles you would have to go through to be able to achieve such and in most cases people end up incurring a lot of losses before they can get this strategy, what differentiates those that's succeeds and others that do not is consistency. A well planned trading does not always guarantee profits but it would definitely increase the chances of being in profit. Trading isn't something that you rush into without critical thinking, if you cannot be patient enough to do proper analysis before placing your trades then you are only gambling.

People that doesn’t trade don’t actually understand how trading works and they always felt they could make a profitable entries without strategies, trading isn’t gambling where luck can save us most of the time. In trading the more we have a reliable strategy the more we stand the chance of making profits even if not all the time but at least some of the time.
 Consistency can make us profitable but we need to  consider other factors too and not just rely on consistency alone because it can’t save us through the journey. And you made a good point that patient is very important for a trader and as a trader when we don’t have the patient then we will always keep making hasty choices.

[Makus]

It is important to plan or strategize before making a move when it comes to trading but this doesn't mean that profit is guaranteed because no one can accurately predict the crypto market. Trading isn't something that someone can just get involved in without having a plan, you used a key word there that most people would forget to remember and that's patience, rushing into the market all because of the profits isn't going to help you get good results. When they say trading requires patience a lot of people find it difficult to really understand this.

[Cgrexp]

It is important to plan or strategize before making a move when it comes to trading but this doesn't mean that profit is guaranteed because no one can accurately predict the crypto market. Trading isn't something that someone can just get involved in without having a plan, you used a key word there that most people would forget to remember and that's patience, rushing into the market all because of the profits isn't going to help you get good results. When they say trading requires patience a lot of people find it difficult to really understand this.

It is important to have a clear plan and strategy before entering into trading. However it does not mean that following that plan will guarantee profit. The main purpose of the plan is to determine how decisions will be made when the market becomes uncertain. and  In what situations should you exit the trade? Many people enter trades repeatedly in the hope of making quick profits. They consider even small price changes as an opportunity and start changing their plans if they do not get the expected results. It is not enough to just have knowledge about the market, you also need the discipline to follow your set rules. The success of a trader depends much more on planning, risk management and maintaining discipline over a long period of time than on how much profit is made in a single trade.

[M47AK16]

2x return monthly? See possibility is always there but realistically speaking, the chances are low.

Of course one might end up buying some random asset and it rises such that the trader sells it to realize a 2x profit. But at what cost?

The market does not determine who is going to make money today or in 30days. It is not like a mill churning out flour every day. It is a speculative market and one needs to the seize the correct time and price at both buying and selling.

Simply put, profitability is never guaranteed in trading. Yes, it can be profitable at some point but how often?  This is the reason why trading can be link into gambling since the chances to lose is high while leaving the rate of winning very low.

If you aim to double your returns within a month, get more side hustles and gain multiple income. Maybe that way, your ideal returns will be met. Trading is good, but it's hard to expect returns at all times.

Achieving those targets with some side gigs is always possible but yes, not with trading. There would never be fixed profits coming our way when in trading. There would be times when we would over-achieve the target but there would also be some dark days which would never balance out. This is what makes trading a riskier business and you can never expect fixed profits or expecting to hit the target in such kind of riskier businesses. There are other ways to achieve your target but still, doubling the money just within a month would come with its own consequences.

Instead of setting monthly targets, we can still set quarterly targets which are a bit easier to achieve. They seem more doable than monthly targets. Achieving those quarterly targets might still be a challenge to a lot of us here.

[fredericktaylor]

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

There is no need to measure how many returns you want to get within a specified time frame. When you start counting dates on your profits, it makes you trade outside your strategy, all because you need to catch up with the profits according to how you have planned and dated to make returns.

Trade the market when there is opening, instead of chasing daily profit, that's how you survive without draining your funds.

Trading at a specific time does not guarantee profit and the risk of losing money increases twofold, because the market will never be stable according to our plan, the market will move at its own pace, so there is no guarantee that our plan or strategy will work correctly within a specific time. To reduce the risk of losing money through trading, it is very important to control your emotions, stay within your means, enter the market at the right time with the right knowledge and plan, and exit the market by controlling your emotions or greed.

[Byebyebtc]

With $100 for me $10 - 3 times a week is worth the effort, risk, emotions and time you put in to analyze the chart, if you have a good RR I do feel achieving this is totally possible, you don't have to be greedy at the same time your results do have to be significant enough whereby meriting your efforts.

Ther is a level to every thing not to big not too small, and I feel we also have to understand that as traders, in $100 making extra $100 in a month is good, but it's good depending on the level you want to reach in your trading journey.

[Iamgoat]

Trading at a specific time does not guarantee profit and the risk of losing money increases twofold, because the market will never be stable according to our plan, the market will move at its own pace, so there is no guarantee that our plan or strategy will work correctly within a specific time. To reduce the risk of losing money through trading, it is very important to control your emotions, stay within your means, enter the market at the right time with the right knowledge and plan, and exit the market by controlling your emotions or greed.

You said trading at a specific time does not guarantee a profit which might be true or slightly untrue in my own opinion but then you now also said one should enter the market at the right time? I’m trying to figure out the difference between entering a trade at a specific time versus entering at a time you consider as the right time? Is the right time also not being specific? I am asking in order for me and others here to able to distinguish the differences especially in the context of a trader.

[Pressurizedem]

Developing a profitable strategy isn't easy, there are several hurdles you would have to go through to be able to achieve such and in most cases people end up incurring a lot of losses before they can get this strategy, what differentiates those that's succeeds and others that do not is consistency. A well planned trading does not always guarantee profits but it would definitely increase the chances of being in profit. Trading isn't something that you rush into without critical thinking, if you cannot be patient enough to do proper analysis before placing your trades then you are only gambling.

People that doesn’t trade don’t actually understand how trading works and they always felt they could make a profitable entries without strategies, trading isn’t gambling where luck can save us most of the time. In trading the more we have a reliable strategy the more we stand the chance of making profits even if not all the time but at least some of the time.
 Consistency can make us profitable but we need to  consider other factors too and not just rely on consistency alone because it can’t save us through the journey. And you made a good point that patient is very important for a trader and as a trader when we don’t have the patient then we will always keep making hasty choices.

You said it all, that consistency is the key to any profitable trading. There is no way you will trade once in a while without being consistent, and you will expect profit making.Trading requires regular attention, regular timing, being present at it at all time and continues commitment to it.  This is very much true because most time that we trade, and we don't give our energy or attention into that particular project, it ends up in disaster. This is applicable to everything human does too.

 Trading is not something you will have a nonchalant attitude towards, it's something you need to always dedicate yourself while  on it because if you fail to give yourself and time to it, there is every tendency that you will be losing your money.

[Tamaperdana]

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.

Yes, I completely agree with your assumption. It's true that day trading is incredibly mentally draining, especially if we have to determine the day's profit, which will obviously make things even more stressful. So, with that in mind, I think when trading, we shouldn't focus too much on goals like this. While it's true that we should have a definite goal, in trading we need to be calmer and avoid rushing. Trading is inherently brutal. Therefore, I personally think that if you enjoy day trading, it's better not to set a profit limit, but rather to focus on risk management. Essentially, you should set your own rules, limiting your daily losses. For example, in one day, you might only risk two percent of your trading assets. So, if you lose two percent that day, you shouldn't trade until the next day. But if you do manage to make a profit that day, it's up to you whether you want to continue trading. But the point is, don't set too high a target for how much profit you should get that day, because that's mentally torturous, believe me.

[BigTarget]

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

There is no need to measure how many returns you want to get within a specified time frame. When you start counting dates on your profits, it makes you trade outside your strategy, all because you need to catch up with the profits according to how you have planned and dated to make returns.

Trade the market when there is opening, instead of chasing daily profit, that's how you survive without draining your funds.

Chasing opportunities is important in trading instead of chasing profits. We do not really know the profit potential and how much we can earn per trade so setting a monthly target might be worthless. For you to achieve that target, you will need to be very careful with the trading capital because if you blow some, you would need to start from square one. In a winning streak, it is quite easy to achieve those targets but what we have a few losses in between? Won't take push the target away and would also force us to open multiple positions just to recover that loss.

I think setting a target would make our mind unstable and we would lose focus. Instead, I would prefer finding opportunities and only opening a trade if I see the potential after a huge research.

[tygeade]

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.

Personally I don't place any target when trading because it puts you under unnecessary pressure which might make you take trades you shouldn't have taken on a normal day, but because you just want to make money and get to your profit target, you will venture into a trade that may liquidate you or better still make you lose all the money you have already made and even part of your margin, so I do trade with target, but setting a timeline to achieve a profit target is what I do not do as a trader, because it's not a healthy practice.

You should actually have a target which motivates you. Yes, for some, it might put you under pressure but a few users thrive under pressure and work way better. So for such people, setting up a target is really important because they will continue looking at that target and do their best to achieve it. What I do not like is setting a fixed duration to achieve that target. Let's imagine we have a target to 2x our initial capital. We can now continue to trade until we reach that target but what if we set a target of 1 month only. Now this is where pressure will kick in and users might start taking hasty decisions.

Setting a target without a timeline can really be useful especially for the ones who have control over their mind. Simply waking up in the morning and looking at our target keeps me motivated for the day so that is something I would prefer.

[Itz-prisigold]

Trading is not something you will have a nonchalant attitude towards, it's something you need to always dedicate yourself while  on it because if you fail to give yourself and time to it, there is every tendency that you will be losing your money.

I feel like the more important factor is that devotion don't not necessarily mean that a person should sit in front of the chart day after day.  Even if a trader spends countless hours watching the market closely, they will not be successful if they do not have a proper trading plan behind them.

Sometimes it's important to be patient enough to wait for a good buy and sell opportunity, and to be wise enough not to make a trade if the opportunity isn't there. Yeah it's true that attention is required in trading but the same goes discipline and knowing when to stay away.

[Pressurizedem]

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

There is no need to measure how many returns you want to get within a specified time frame. When you start counting dates on your profits, it makes you trade outside your strategy, all because you need to catch up with the profits according to how you have planned and dated to make returns.

Trade the market when there is opening, instead of chasing daily profit, that's how you survive without draining your funds.

Chasing opportunities is important in trading instead of chasing profits. We do not really know the profit potential and how much we can earn per trade so setting a monthly target might be worthless. For you to achieve that target, you will need to be very careful with the trading capital because if you blow some, you would need to start from square one. In a winning streak, it is quite easy to achieve those targets but what we have a few losses in between? Won't take push the target away and would also force us to open multiple positions just to recover that loss.

I think setting a target would make our mind unstable and we would lose focus. Instead, I would prefer finding opportunities and only opening a trade if I see the potential after a huge research.

You are right about finding opportunities and not literally setting a target, I mean, that's your own take on this, but I would say any trader who doesn't set target for himself is likely not going to reach his peak in trading. One has to have a specific goal, target whether you have seen the opportunity or not, all that should be in your mind is that when the opportunity comes in the market, you would be ready to grab it and invest accordingly.

Everything on earth should be followed strategically especially when it comes to trading like this, and the target you set for yourself is what's going to be you personal motivation and what is going to drive you into pushing big and doing everything necessary to move into the right space of trading, and once the opportunity surfaces, you can easily manage it cause a space for it has  already be set.

[Royal Cap]

There is no need to measure how many returns you want to get within a specified time frame. When you start counting dates on your profits, it makes you trade outside your strategy, all because you need to catch up with the profits according to how you have planned and dated to make returns.

Trade the market when there is opening, instead of chasing daily profit, that's how you survive without draining your funds.

Yes, I will agree with you here. Because in trading it is never possible to always make daily profit from the market. If someone always want to make forcefully profit, then there will definitely be losses, because we can't control the market. That is why I say if there is a monthly target set, then it can be met. But it is not that the capital has to be 2x, your profit may less than 2x. If someone want to make a double profit, then there is a high possibility of your loss. Because then they will make decisions based on emotion instead of analysis instead of conscience and become a victim of loss.

[Somegory]

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.

I also trade and he is not wrong for saying or thinking that he can double his money within a month, because even in a week this is very possible, all he needs is a stronger signal tool and good stop loss strategy.

To make money in trading is easier than doing the same with gambling, you don't need leverage to make double amount, you only need a coin that can go up 100% ...

The 2x isn't something that will happen every month, that's where he is wrong, it's left for your signal to pick up the trade and most times it can happen on daily or weekly candle, when the next good trade is going to come can take weeks or even months.

[Dr.Bitcoin_Strange]

I also trade and he is not wrong for saying or thinking that he can double his money within a month, because even in a week this is very possible, all he needs is a stronger signal tool and good stop loss strategy.

To make money in trading is easier than doing the same with gambling, you don't need leverage to make double amount, you only need a coin that can go up 100% ...

The 2x isn't something that will happen every month, that's where he is wrong, it's left for your signal to pick up the trade and most times it can happen on daily or weekly candle, when the next good trade is going to come can take weeks or even months.

It can be possible in a week specifically based on luck alone, else, if you try to have such profit in a week, you will blow your account multiple time until the day luck finds you. How can you easily know a shit coins that can be pumped up to 100% in a week? It's still based on luck, I don't think there is any tool that can correctly predict such move, you will still end up losing multiple times before being lucky.

Profitability can vary month after month, with each month having a different win rate because the market can be manipulative at time and one could lose multiple trade due such period, while traders that lacks proper risk management can even blow their account.