Hope for the best, but expect the worse!

[Sexylizzy2813]

Yeah thats pretty much what most people need to realise. But people never have this mind set.

Even now, we got tons and tons of BTC flows with all the ETFs but bitcoin still hasnt broken the ATH and we broke $60K earlier. People were all hoping for bitcoin to be at least $100K, especially by the amount of flows which are coming out of the spot markets and staying on the ETF books for a long time. Less supply means thats prices should be higher. However that is not the case here.

So like you said, hope for the best but expect the worse. Hopefully we dont get a repeat of August 5th.

If you have been a long time trader, you will come to understand that there would always be inevitable losses in trading no matter how good you are as a trader. That's something that we can't take the full control while trading in an unpredictable market.

However, if we are potentially skilled and has working trading strategies, despite of the reality that trading could make you lose at some point, but know for sure that your gains will outnumbered your losses, that is if you are a good and successful trader.

That's the thing with those who newly joined trading, some have that mindset to always be on the winning side but they forget that trading is like gambling, you win today you lose the next day, profit doesn't have to come your way always and  the earlier these sets of people put it in mind that trading is a 50/50 thing the better for them because is like you're preparing you mind for what will happen next, either good or bad (making profit or losing). If in any way we know how the the market works like we can predict it correctly then nobody will have to lose but that's not how it works, that's why many have multiple strategies to go with.

[Wind_FURY]

How many years has he been a "trader"? Plus if he's trading stocks/forex, is he outperforming the S&P-500? If he's trading cryptocurrencies, is he outperforming Bitcoin? There should be a large sample size of his trading data to determine if someone is truly positive. Anecdotal evidence is useless.

I'm not trying to nit-pick, but respect to his success if he can continue to be profitable and outperform for the next 10 years.

I have known a guy who has been a trader in stocks for over ten years before he got into crypto in 2018, which means that he started in stock trading at around 2005-2006,

👍

That's a more believable story. Actually my grandfather, who owns an antique shop, has been a holder of Gold and an investor in some stocks. He merely HODLs them, which is where I got influence to be a long term "value-investor".

 and he did had some trouble during 2008 to be fair, but by the time he got into crypto at 2018, he was already decent at trading. Then he started to trade at crypto and for him it was so simple and he made millions, a few millions to be exact.

Although, there were bearish traders during that time that made money, I believe 2008 would be trouble for many traders and investors, not just your friend.

But he is not a greedy person, he turned all his earnings into bitcoin, then cashed out half of it, and he has about a little bit over a million dollars, close to one and a half million dollars in bitcoin and about the same in fiat, and just retired without much issues, it has to be very careful without a doubt. We need to keep holding as much as possible to be like them and keep trying, with enough experience we are going to start making money the way they make and that's the important part, just being a consistent person to do that.

👀

Those Bitcoins will be, at the minimum, $5,000,000 during 2025 or 2026. Plus he would probably buy the other half he has in fiat back into Bitcoin. He probably can help other people retire.

[bitgolden]

rather than being emotional when you have losses in trading, you should actually see it as something that's always meant to happen. Its like a learning process that never ends.

The realty of trading is, everyday you should be ready to learn a new lesson. This will continue even after your 10th anniversary as a trader. Still, when you sail on trend side, you may pick the profits and after you exit, market will show another 20% growth which means even after making profit, you should be ready for learning another lesson. And on your next trade, when you wait for another 25% profit on top of your usual target, market may reverse and hit stoploss. Again, a new lesson; the cruel reality of market; I am damn sure that 100% of traders here must have gone through similar incidents.

we got tons and tons of BTC flows with all the ETFs but bitcoin still hasnt broken the ATH and we broke $60K earlier. People were all hoping for bitcoin to be at least $100K, especially by the amount of flows which are coming out of the spot markets and staying on the ETF books for a long time.

Even swing traders may not be patience enough to catch that dream $100k level from the current level but investors will. I mean market volatility will trigger fear by showing down trends time to time and by eating up stoploss levels for traders which means only early holders may get chances to enjoy such big targets and all others will simply learn a new lesson.

it's an essential thing that you trade only when you have sufficient knowledge and skills, and when you think there is higher probability that the market will favor on your trades. Otherwise, you'll never be a successful and profitable trader.

Yeah, knowledge and skill will guide us to predict when the market will be in our favour. But, unfortunately there is no such "sufficient" level for our knowledge and skill against the volatility of crypto market. In some sense, if we keep on persisting with trading for long time, finally we can be highly skilled with sufficiently knowledgeable trader yet being a profitable and successful trader is a big question mark. For the case of holding/investing, you do not need similar skill and knowledge but your profits are guaranteed without any frustrations of non-favouring of markets.

This kind of approach actually helps one to manage their risk accordingly.

Yeah I agree; this type of anticipating higher risks led me to be a long term holder instead of safeguarding my account from blowing off rather than focusing on profit booking. I expect all the traders to turn an investor slowly by learning a lesson everyday.

[Maslate]

>>this is a kind of proverbial statement , which highlights different aspects of life too other than trading.
But in trading and as a trader it's helps you be a bit rational and less irrational in decision making, rather than being emotional when you have losses in trading, you should actually see it as something that's always meant to happen. Its like a learning process that never ends.
Anytime you trade always be self prepared for losses, but at the same time keep your hopes high for  positive results.

You're right. Trading has certainly its own share of losses no matter how were trying to trade for profits. And that's something we can't take away from it. That's why acceptance is the key. If you can't do that, you will constantly be in pressured while trying to end up with profits, when you know you can't please always the market that it sometimes go with unpredictable outcomes.

[Mpamaegbu]

I know, "Hope for the best, but expect the worse" is an expression but I rather lower my expectations than expect the worse. In life, there are just two choices, genuinely, to make in any situation. It's either a yes or a no. It's either I'm interested or I'm not. Any other that comes in-between is indecision and shouldn't be counted. We can't suddenly jump from best to worse. If we take that to trading, it's either profit or loss. Those who sit on the fence because of indecision don't have the benefit of either.

[Kelward]

>>this is a kind of proverbial statement , which highlights different aspects of life too other than trading.
But in trading and as a trader it's helps you be a bit rational and less irrational in decision making, rather than being emotional when you have losses in trading, you should actually see it as something that's always meant to happen. Its like a learning process that never ends.
Anytime you trade always be self prepared for losses, but at the same time keep your hopes high for  positive results.

Crypto trading and every other risky businesses where you're not sure of making profits or succeeding is better to go into it with the right mindset. Hoping for the best and being prepared for the worst is a good mindset when you're entering a trade because despite you're professionalism and experience you can still lose. So inorder not to get too emotionally if you lose it's good to have a mindset that prepares you to accept wins and loses. Newbies that are coming into trading must understand that it's not a get rich quick scheme were profit is a guarantee, you need to be hopeful to win and prepare your mind for loses.

[TheUltraElite]

That's why acceptance is the key. If you can't do that, you will constantly be in pressured while trying to end up with profits, when you know you can't please always the market that it sometimes go with unpredictable outcomes.

That is the basic thing to understand here. You should hope for the best but things might not always go that way and so you have to ready to face the bad things too. This should not induce anxiety, which sort of destroys the entire premise., but be prepared for the bad.

Markets can go haywire, but the important thing is to stick to spot trading only so you have asset at hand to spend and break even with patience. Dont for anything other than spot trading however tempting it might look, they are traps.

[Mr.sprin]

That is the basic thing to understand here. You should hope for the best but things might not always go that way and so you have to ready to face the bad things too. This should not induce anxiety, which sort of destroys the entire premise., but be prepared for the bad.

Markets can go haywire, but the important thing is to stick to spot trading only so you have asset at hand to spend and break even with patience. Dont for anything other than spot trading however tempting it might look, they are traps.

Everything has its own risks, so before starting, prepare yourself carefully so that when we accept the risk we can find a quick way out so as not to cause excessive anxiety, ups and downs in trading are normal, so we can control our emotions when adversity hits us.

We all hope for the best, but we also have to prepare ourselves for adversity because good things will not always come, there will be times when adversity will also come to us, so prepare carefully so that we can control everything well and carefully.

[Dewi Aries]

Yes, it also means that we must be neutral, in the sense of understanding that profit opportunities are indeed available in trading but also by acknowledging and realizing that risk is always involved in it or in every time you trade and can make you lose money. Although in trading getting profit depends on skill but it does not mean you should ignore the various possible risks of loss just because you have a lot of knowledge. So I think the ability to accept risk is always much better and also focusing more on risk management and planning is also very good so that we can minimize the possibility of various actions that should be avoided which are caused by emotions.

[Issa56]

But in trading and as a trader it's helps you be a bit rational and less irrational in decision making, rather than being emotional when you have losses in trading, you should actually see it as something that's always meant to happen.

I see loss in trading as a normal activity, you can’t be a trader and you won’t lose. I don’t think that’s possible, even professional traders lose in trade, but when trading and you notice that your loss is already more than your win, then that’s when there is always a problem, you need to go back and do research why you are losing often. But if you are a trader and your profit is still more than your loss, then everything is fine. If you think as long as you start trading, you won’t be losing, then you are wrong, and that’s what most trading signal providers do use to deceive people, promising them 100% profits in trade.

[Ndabagi01]

>>this is a kind of proverbial statement , which highlights different aspects of life too other than trading.
But in trading and as a trader it's helps you be a bit rational and less irrational in decision making, rather than being emotional when you have losses in trading, you should actually see it as something that's always meant to happen. Its like a learning process that never ends.
Anytime you trade always be self prepared for losses, but at the same time keep your hopes high for  positive results.

We worry too much about losses when we don’t have enough money to be investe back into trading. The market is such that when you understand them and made money from it, you won’t hesitate to feel sad when you lose and feel like not putting money into it again. It’s a natural feeling and every trader will have to pass this stage on their way to been profitable. When one becomes profitable, their thoughts are not always glued to only one thing, they take a lot of lessons from the losses and work on becoming better to be more profitable in the future. The emotional aspect of it is something you must have learnt on your own, no mentor teaches that.

[adultcrypto]

That is the basic thing to understand here. You should hope for the best but things might not always go that way and so you have to ready to face the bad things too. This should not induce anxiety, which sort of destroys the entire premise., but be prepared for the bad.

Markets can go haywire, but the important thing is to stick to spot trading only so you have asset at hand to spend and break even with patience. Dont for anything other than spot trading however tempting it might look, they are traps.

Everything has its own risks, so before starting, prepare yourself carefully so that when we accept the risk we can find a quick way out so as not to cause excessive anxiety, ups and downs in trading are normal, so we can control our emotions when adversity hits us.

We all hope for the best, but we also have to prepare ourselves for adversity because good things will not always come, there will be times when adversity will also come to us, so prepare carefully so that we can control everything well and carefully.

So long as risk is involved, one must expect the worst-case scenario. Hoping for the best will be the motivation to even get started and continue in the business. Trading is one deal that the worst can easily happen so anyone not willing to expect the worst should just avoid trading. Preparing for the worst is something that will guide the trading in measuring the level of risk so he is not out of the game completely. This preparation should be part of the trading plans.

[Bloodseekers]

>>this is a kind of proverbial statement , which highlights different aspects of life too other than trading.
But in trading and as a trader it's helps you be a bit rational and less irrational in decision making, rather than being emotional when you have losses in trading, you should actually see it as something that's always meant to happen. Its like a learning process that never ends.
Anytime you trade always be self prepared for losses, but at the same time keep your hopes high for  positive results.

We worry too much about losses when we don’t have enough money to be investe back into trading. The market is such that when you understand them and made money from it, you won’t hesitate to feel sad when you lose and feel like not putting money into it again. It’s a natural feeling and every trader will have to pass this stage on their way to been profitable. When one becomes profitable, their thoughts are not always glued to only one thing, they take a lot of lessons from the losses and work on becoming better to be more profitable in the future. The emotional aspect of it is something you must have learnt on your own, no mentor teaches that.

The losses experienced by every trader are certainly something that will definitely be experienced and to be able to avoid this, of course we must be able to understand it well so as not to make mistakes that make us lose when trading from every failure we experience, of course we must be able to learn from it and fix the mistakes so as not to repeat them in the future, as you said very rightly, this is part of the process and we can make it an experience and also a lesson.

Everyone who has learned from the losses they have experienced will of course be able to make them more careful in making decisions when trading and of course this will make them decide something correctly and the results they get will also be better than before, in terms of emotions of course it will depend on a person's personality and also their knowledge of trading, because without understanding well of course someone will continue to trade with emotion and also greed because they do not understand trading well, but if we continue to practice of course it will be easy to control emotions when trading.

[Adams0001]

But in trading and as a trader it's helps you be a bit rational and less irrational in decision making, rather than being emotional when you have losses in trading, you should actually see it as something that's always meant to happen.

I see loss in trading as a normal activity, you can’t be a trader and you won’t lose. I don’t think that’s possible, even professional traders lose in trade, but when trading and you notice that your loss is already more than your win, then that’s when there is always a problem, you need to go back and do research why you are losing often. But if you are a trader and your profit is still more than your loss, then everything is fine. If you think as long as you start trading, you won’t be losing, then you are wrong, and that’s what most trading signal providers do use to deceive people, promising them 100% profits in trade.

You can't merely win every time in trading without losing; even professionals who generally win lose some of the time because the market can't be advantageous at all times. You are correct that losing is a common part of trading; you can simply set a stake and claim you will not lose. To succeed in trading, it's important to be patient, focused, and learn from others who are more experienced. Some may prefer to invest in bitcoin to reduce risk. and before you can enjoy trading you need be patient and focus very well and learn from other that are better then you, and I see some have turn trading as a source of income because some professional I know that can trade very well and winning, before they guide you trough you need to pay alot of money before you can gain knowledge from them, and i didn't blame from that because they face many challenges before they become what they today. if they said they will do for  free they won't be getting some extra funds to stake. Trading is good if you are boss on it nothing come easy without hardworking and challenges.

[CageMabok]

Everything has its own risks, so before starting, prepare yourself carefully so that when we accept the risk we can find a quick way out so as not to cause excessive anxiety, ups and downs in trading are normal, so we can control our emotions when adversity hits us.

We all hope for the best, but we also have to prepare ourselves for adversity because good things will not always come, there will be times when adversity will also come to us, so prepare carefully so that we can control everything well and carefully.

Market conditions and trends that often change every year make traders indeed have to have a strong mentality and also other better preparations because making hasty decisions without calculating the risks will clearly not be good for anyone. So traders must be aware of this when they want to start trading on any exchange except for people who are just learning to feel and run their first trading in a particular exchange where they must be more observant and careful in carrying out step by step over time.

[Peanutswar]

...
Anytime you trade always be self prepared for losses, but at the same time keep your hopes high for  positive results.

Loss is part of the trading journey but you can remove or at least lessen the risk of having a loss by doing a good technical analysis, and risk management, not all trades must be hold and not all trades must need to trade I mean in this part if you doubt to trade don't take a risk follow your guts and feeling if you think you are not quite safe better to skip than to regret your postion.

[Finestream]

Oh yeah, it's essential to balance both expectations as it can help the trader make informed decisions before taking on any trade. Excessive hopes and assurance on traders about their trade's has liquidated many that some even blow up their account in a twinkle of an eye on a single trade they deliberately refused to set up a stop loss for.

I'm trading you can't be too sure, even when all indicators are pointing an upwards trend you've to still going in cautiously with the inner mindset that it could go wrong, that's why it's called prediction market.

Trading is highly risky and unpredictable, so even if you are confident to trade because of your capabilities and skills, still expect that your success won’t be 100% guaranteed one. There are still uncontrolled market swings  that will suddenly hit your trades, and with that, you become less control of your trading success. Just trade when there are high probabilities of trading success, but never expect too much that everything will go along your direction positively.

[pusaka]

Oh yeah, it's essential to balance both expectations as it can help the trader make informed decisions before taking on any trade. Excessive hopes and assurance on traders about their trade's has liquidated many that some even blow up their account in a twinkle of an eye on a single trade they deliberately refused to set up a stop loss for.

I'm trading you can't be too sure, even when all indicators are pointing an upwards trend you've to still going in cautiously with the inner mindset that it could go wrong, that's why it's called prediction market.

Trading is highly risky and unpredictable, so even if you are confident to trade because of your capabilities and skills, still expect that your success won’t be 100% guaranteed one. There are still uncontrolled market swings  that will suddenly hit your trades, and with that, you become less control of your trading success. Just trade when there are high probabilities of trading success, but never expect too much that everything will go along your direction positively.

Losses cannot be separated from trading or in other words, risk will always be present in every trade we make, even as you said even though we follow where the trend is moving, we will always have the risk of getting a loss. If we are not ready for such risks, then it is better for us to avoid trading. Thinking about profit alone in trading is not wise at all, because when we lose, there will be emotions that will affect us, that is actually what makes trading unhealthy. We cannot always make a profit, there will be times when we will feel a loss. Even traders who are considered professional will still experience losses in the trades they make.

[nara1892]

Oh yeah, it's essential to balance both expectations as it can help the trader make informed decisions before taking on any trade. Excessive hopes and assurance on traders about their trade's has liquidated many that some even blow up their account in a twinkle of an eye on a single trade they deliberately refused to set up a stop loss for.

I'm trading you can't be too sure, even when all indicators are pointing an upwards trend you've to still going in cautiously with the inner mindset that it could go wrong, that's why it's called prediction market.

Trading is highly risky and unpredictable, so even if you are confident to trade because of your capabilities and skills, still expect that your success won’t be 100% guaranteed one. There are still uncontrolled market swings  that will suddenly hit your trades, and with that, you become less control of your trading success. Just trade when there are high probabilities of trading success, but never expect too much that everything will go along your direction positively.

Losses cannot be separated from trading or in other words, risk will always be present in every trade we make, even as you said even though we follow where the trend is moving, we will always have the risk of getting a loss. If we are not ready for such risks, then it is better for us to avoid trading. Thinking about profit alone in trading is not wise at all, because when we lose, there will be emotions that will affect us, that is actually what makes trading unhealthy. We cannot always make a profit, there will be times when we will feel a loss. Even traders who are considered professional will still experience losses in the trades they make.

True, every trader will certainly never be completely free from the fierce fluctuations that occur in the market, we cannot be completely free but with risk management and caution we will be a little more protected, or will not experience unwanted things too often such as significant losses. Logically trading will never be said to be a risky activity if a trader can completely avoid the risk, so of course if you want to get involved in the world of trading then the main thing you must understand is to realize that this is a risky activity and also another thing you must have is the ability to be open-minded when experiencing losses.

Because as you said that if we do not have the ability to accept risks then emotions are something that will definitely dominate a trader and when emotions dominate then it is clear that various aggressive actions are very possible for them to do, and usually this is the cause of a trader ending up bankrupt.

[alastantiger]

Trading is highly risky and unpredictable, so even if you are confident to trade because of your capabilities and skills, still expect that your success won’t be 100% guaranteed one. There are still uncontrolled market swings  that will suddenly hit your trades, and with that, you become less control of your trading success. Just trade when there are high probabilities of trading success, but never expect too much that everything will go along your direction positively.

What are you going to say about the traders that have a very high percentage of victory, do you think that those traders didn't believe in what they were doing. You can't be negative and be expecting a something different as result to come out from what you're doing. Traders have to be optimistic about what they're doing. You can know that you can get disappointed but don't put that in your mind but trade like you can be victorious in every trade that you're carrying out. The market is uncontrollable but it isn't unpredictable, you can make your prediction and be right and you win. Every time that you make a prediction, it mightn't be correct but sometimes, you can be correct, that's what makes trading fun and interesting. Practice makes perfect in trading, as you keep practicing you'll become a perfect trader and more of your predictions will be correct than wrong.