Profitable but still called bad trade.

[rachael9385]

I believe that profit is the most important factor in trading. Not feelings or any life goals, as in The Wolf of Wall Street. Only the monetary result in numbers. If you're a trader and you trade well, it doesn't matter whether the market is in your favor.
You have money, you're a winner.

Making profit is the goal but this should not be the goal of a beginner, we all want to make profit which is actually the whole essence of trading but if a beginner prioritizes this it actually causes more harm than good in the long run. What some traders need to focus on is making sure they are on the right track first before thinking about winning.

And as the saying goes, "winners are never judged." And the theory of probability is such that if you're lucky now, it doesn't mean you won't be lucky in the future. Past experience doesn't count as luck.

People are only interested in the results you get that's quite true but there are traders that make profit not because they took a trade out of doing proper research, they took a position and hoped to get lucky and they did. Luck is not sustainable in trading, it happens once in a while but depending on it is dangerous.

[GbitG]

Agree.

The Martingale strategy is highly profitable 99.99% of the time, but sooner or later a "Black Swan" event arrives and wipes you out completely.
Conversely, you could lose millions of trades in a row if you bet on a real "Black Swan."
Yes, it is great to operate at a loss for years—or even decades—if you know what you are doing.

Let us not be shortsighted!

Bruh..... !!! 

That's super cap... How can a Martingale be a shine gold... Let me elobrate it widely. If you have a good strategy and you try to call the Martingale on every single attempt then tell me how much DD will you take as limit......


I know only 3-6 attempt will make you num because it's a probility myth and definitely we  retails only get F**ked on few bucks. So Black Swan is not the case to blow your account. Only few attempt of Martingale can easily breach all of yours equity like if you are doubling your risk on every tarde then definitely it will give a beep sound. 

Unnecessary risk is big enemy of trader  (Martingale on every attempt) 

[yhiaali3]

I strongly agree with what the trader said, Because evaluating a trade based solely on its financial outcome is the biggest mistake traders make. Because a good trade is one in which you followed your plan, your rules, and your capital management.. ...even if it ends in a loss.
As for one bad trade where you broke the rules yet still made a profit by sheer chance that is actually a "deferred loss," because it conditions your mind to engage in the wrong behavior.

Focusing on your commitment to the strategy provides long-term discipline Meanwhile  focusing on haphazard profit drives you to take risks.

[Iamgoat]

I strongly agree with what the trader said, Because evaluating a trade based solely on its financial outcome is the biggest mistake traders make. Because a good trade is one in which you followed your plan, your rules, and your capital management.. ...even if it ends in a loss.
As for one bad trade where you broke the rules yet still made a profit by sheer chance that is actually a "deferred loss," because it conditions your mind to engage in the wrong behavior.

Focusing on your commitment to the strategy provides long-term discipline Meanwhile  focusing on haphazard profit drives you to take risks.

And such is the most ethical way of trading, there’s a thread on this forum which says trading not gambling or which tries to compare when a trader can be regarded as a gambler instead due to his activity trading and this is a typical example of such scenario. When a trader trades solely because of an outcome they thought they had envisaged instead of their trading principles, they end in losses which are usually colossal. But when you trade with your principles and you are able to manage such principles to it’s best, you will be able to manage losses when they come and maximize your profits when they eventually come too, now regardless of the market conditions or expected outcome of the said trade.

[Lontor]

Trading should serve as a means to generate additional liquidity for investment; therefore, it is not essential to strive for every single trade to be profitable. Instead, the goal is for the average outcome of these trades to be profitable, thereby generating more liquidity for users.

Perfectly well put together sir, the problem with traders is they want to make money everyday, the stress of scalping says a lot about this my point and most times its not even worth it, people will scalp for few dollars and ended up losing it all.

Too much of everything is not good, trading is something that should be timing, once or twice a week is more than enough, we have weekly charts and candles, a trader can just place their trades and keep doing what they are doing.

They don't have to sit in front of monitor through out the day, and most times weekly trading is more reliable than hourly candles and daily candles.

[Dareo]

-snip-
A trader should not focus on all the strategies but should become so skilled in a few trading strategies that the strategies he uses should have a 90% chance of success all the time. If we focus on only a few strategies and if we do not sit and trade every day and after 2 or 3 consecutive days, trading opportunities arise and we make a profit by trading, then it is still good for us. It is much better to make a profit by trading a few than to face losses by trading a lot.

There are many strategies in trading, if a person wants to learn all the strategies, then he may not be able to learn any of them and may always face losses. So learn a few methods and make yourself very skilled in those methods.

After reading your post, I remembered the famous quote of Bruce Lee which he said once in his life I do not fear the man who has practiced 10,000 kicks one time but I fear the man who practiced one kick 10,000 times. This is exactly what happens in case of trading too, where using all kinds of indicator together becomes nothing but confusion. And there cannot be any sort of progress by doing so. But expecting 90% success rate might become unrealistic especially in the volatile crypto market world. Success doesn’t depend upon the percentage success rate rather depends on risk reward ratio. Even if we assume ourselves getting only one setup during one day of trading with a winning ratio of 50% to 60%, huge amount of gain can be made within one day of proper money management system along with good stop loss application.

[Su-asa]

This is not even something that's up for debate. I mean, if a trader makes a bad trading decision and it turns out to be profitable, that does not mean the next trade result will be profitable again. What I consider a good trade from my own point of view is someone who is able to control themselves and keep to their principles; discipline is everything in trading, and it and the goal is managing profit more than whatever loss they will encounter.

Good point, there is no sustainability in making wrong decisions and hoping that the trade turns out to be successful, when a trader makes a bad decision and then it turns out to be successful you can say that they simply got lucky but this isn't something that they can continue to achieve consistently. What you consider to be a good trade is actually the mindset that every trader should have because this is what makes trading different from gambling but to some a good trade is only about the profit made which is totally wrong.

[Odogwu-Blockchain]

There is saying I have have mostly carried with me whenever I do anything in life especially through trading as well or anything at all - the saying goes

"Rewards are for those who continually do, and not for those who knows how to do"

Those who continually trade doesn't care about mistakes, they trade blindly and doesn't care what hurts and whatnot, if you care do much about your setups and try to make everything perfect before entering a trade, you may end up getting nothing but get ruined at the end.

So,  a good trader is  someone who continually make trade whether based setup or not or through intuition, rewards comes to those traders more than those who becomes careful all the time.

I have helped a cousin of mine to end a trade that accidentally entered a future trades where he make $18 with $30 capital, he knows nothing about future trading, but he was miraculously in profit of $18. He got confused about his asset increasing and decreasing steadily like a stopwatch, so I have to login his bybit and then stopped the trade and recover the profits.

He doesn't know setup at all, unlike those who knows 100% setup procedures and never in profit for once, that's why I keep, rewards are for those who do and not who knows how to do.

[nara1892]

Everyone trades with the goal of making a profit, no matter how they do it, but of course there are always better ways to approach trading. Even if, for example, someone has a method that successfully generates large profits, if that method also carries significant risks, it’s best to avoid it. Here, I’m talking about long-term sustainability, and the answer lies in a cautious approach. Good trading means not exceeding your limits and staying within the risk you can tolerate, bad trading is the opposite.

[passwordnow]

Traders who are giving more impression to what the trade is called than how profitable it is need to look at their priority. Why are you trading for? so that you'll get the record that you have made a good trade instead of making money? That's not bad though but you must look at what you're really trying to do when you trade. Because if you just want to have a good trade then do the demo trading and it won't cost you money if you lose and then results in a bad one but, it won't even make you money if you make a good trade out of it. Priorities.

I hope you also know that some people that gives trade ideas and chart to people especially the signals don't trade. what they do and they see VIP signal, they are quick to join. That's where some of them get money to start trading journey on their own, you will never see them do it with their money.

If that is what they do, they are responsible for the community they built because if they're not paid for it to give signals not to trade I don't think that they'll care. There are many of them that study trading, use their time to master trading and tools and then start dropping signals for followers. Because of these signals providers, I don't believe them. But if they are for real, that's so nice of them if they do that without incentives from the people who are waiting for what they provide based on their analysis.

 Luckily if the followers noticed they are good at
A trader that is after making profits will have no time to entertained you, they are going to make their charts and make their profits and moves to the next one. If it's even possible for them to short the same market they make money, they will do it secretly and share profit later. That's how real traders make money. This is why anytime I see trading influencers that shows exotic cars baffles me, most aren't traders.

That is the point, if they are providing those people with their signals and they call a bad trade despite being profitable, really matters what the priority is. But many of them don't make money at all from trading but only comes from being paid to provide signals.

[Hamza2424]

From an objective standpoint read what this trader had to say base on his experience as a trader that has being trading for years just as you. With your own true experiences share your disagreement and agreement with about his

What process and disciplined approach would that be? Because bro, as far as I have seen, many traders have different disciplines to follow. Some trade with their fixed strategy, which involves how to read charts, how much risk to take, and how to manage losses and emotions, along with averaging and breaking even.

So even if we follow this mindset, which is good, I agree, but bro, what process should we follow? There isn't a single one. There are multiple approaches. That's confusing for many. How can they know if the outcome is not based on profit or loss? How can they know they are on the right path?

[Mpamaegbu]

With your own true experiences share your disagreement and agreement with about his idea

Yes, that trader is 100% correct. Though newbies will find it contradictory. I've been caught in that web in the past, and sometimes in the present too. Whenever I find myself doing it now, I just know I'm merely gambling; and not trading. Two days ago, I watched Jeffrey Benson on YouTube. Jeff is one of Nigeria's high risk (if not the number one) but profitable professional traders. He said something in the light of what you've shared here. In fact, that clip from Jeff is now my favourite of all his videos. It's a life lesson and should be a sought of a paradigm shift for a lot of people. I would rather stick to my strategy and lose than win on a random trade entry. Winning on bad entries isn't sustainable. It's another build up to burning one's account. It's only a matter of time.