“pRoFiT is pRoFiT” – one of the most annoying and toxic sayings uttered by traders who have no idea wtf they are doing in the markets. Let’s dive into why I never wanna hear people say this around me š
“Profit is profit” is complete nonsense and is evidence someone has not educated themselves on trade management, profit taking strategies, the optimal entry points or the optimal exit points. NOT ALL PROFIT IS EQUAL. NOT ALL PROFIT IS GOOD. š āāļø “”Profit is profit”” is a form of self-soothing for idiots and it plays no part in my trading.
“Profit is profit” is typically spoken when someone takes a much lesser profit than they could have.š Of course, not every single trade we take will close like we planned for, but turning around and telling yourself “AH WELL THIS IS ACCEPTABLE” and not getting down to the root of the problem to fix it is how majority of traders lose money in 90 days and quit in 2 years. You don’t just write off š© trading and trade management by telling yourself “”ah well, at least I got SOMETHING out of it š¤·āāļø””.
PROFIT IS NOT PROFIT. Not all profit is good profit!
ā If you made $10 when your trade could have closed out at $100, profit is NOT profit
ā If you made $1,000 purely by gambler’s luck, chucking your money at something you didn’t understand, profit is NOT profit
ā If you had an open trade running in profit for 6 WEEKS but then closed it out just above breakeven, profit is NOT profit
ā If your trade went up to let’s say, 30% profit, but you closed it out at 2% instead, profit is NOT profit
ā If your trades consistently close out at 1% profit when the crypto markets go up 20%-70% in a bull run ā¦ profit isn’t profit dudeā¦
ā If your trade actually went up as predicted and closed you out at your profit target, BUT you foolishly decided to use 10x leverage on this and your fees ended up eating into MORE THAN HALF of your profitsā¦. PROFIT AIN’T PROFIT HOMESLICE
These are all symptoms of poor training, education, and skill. Traders who speak these words either entered too late in FOMO, exited too early in fear, let a winner turn into a near loser, or.. so many other things, really.
