Topic: A good observer makes a better speculator - page 2. (Read 742 times)

Indeed we can't assume that everyone has the courage to hold and take advantage of the situation. A lot of investors are still showing disappointment when seeing the price drop, in fact, they are thinking collapse of the market which leads them to sell. At first, I think that the more we check and observe the market, the more we understand how it works but there is something wrong happens, it only creates panic in others. And the more they become disturbed by what they have seen.

You will not always preach patient to hodl coins if you can know that 200% rise is the height of it, I think you can sell which you will wait for the low to buy and hodl again. Hodling is not to be a blind thing but a smart person is there taking the advantage of the market. This is the simple calculation that I hear sell when it is high and buy when it is low.

This is to be expected as no one can really predict what the market is going to do all the time, so what is the next step for speculators? To have a strong money management strategy, even if your ability to predict the markets was just slightly better than what you could get by random guessing, as long as you limited your losses with the use of a stop loss and you let your winning trades run that will be enough to produce profits.

Unfortunately many speculators have unrealistic views about what they can achieve, and they want to increase their accuracy to the point they compromise the profits they could possible get by refusing to use a stop loss.

Observations in speculation are often associated with investment and business, although speculation cannot fully describe investment and business activities. Investment and business is an activity that really takes into account the risk in the future, not just luck like speculation.

In making observations, there are actors who usually only think about abundant profits and are not based on in-depth analysis and careful calculations. This makes speculation a part of business activity that cannot be separated from price fluctuations. In doing speculation, it is necessary to have a principle that is oriented to "high risk, high return", meaning that wanting big profits means having the courage to take big risks as well.

This is the real key to speculation, big profits can be obtained even greater than investment activities. A big crisis with speculation is a major step towards making big profits, not just chancy. When a businessman manages to get through a difficult time or crisis, it is certain that massive profits can be obtained.

A clear example of the principle of speculation is when a businessman decides to buy disputed land at a very cheap price. The risk of buying it is certainly very large because of the dispute. However, when disputes are successfully resolved, land prices can soar.

Possible, but even with individual with so much experience, they could also be making wrong predictions, in short no one can really predict how the market is going to move even if you understand at least the most part of trading and technical analysis.

So still a hit or miss for us, but the thing is that we continue to grind day and night and always find a way to make money regardless of what is the current market sentiment is. There could be speculators that are still making money even in a bear season like what we are in right now.

Finding profit is not an easy thing even though it can still be done by everyone, because market conditions are not always the same as last year so making price predictions by taking references from last year will not always be right. Moreover, if some beginners only rely on their filing for this, it is clear that there will be no accuracy at all so that the potential for profit or not is also difficult to know even though they (newbies) will continue to make purchases when price drops occur in the market.

With experience, we can know and predict prices well, most beginners always speculate and only rely on feeling to buy and sell, and the best thing for profit is to always be patient and sell at a profit price, especially on spot exchanges then everything becomes easier to trade. buy or sell.

It would really be just a normal act specially if you do really give out importance of the money you are investing which you cant really make yourself on rushing up on making investment decisions.
No one really likes on losing up soo much money thats why you should really be that wise and be that observant when it comes to price movements.Its true that being observer isnt that bad
which you could really study out into those probabilities and possible scenarios but of course, this isnt talking about observing all the time.You should really need to act into something
so that you wont really be missing out opportunities.

Speculation is not only for the people planning to buy some coins but as someone that likes the business, you can speculate to yourself where the coin price will move to and this is good for you to taste your ability of understanding what is happening in cryptocurrency. It also build the interest so you can encourage yourself to invest when you have money because you already having good knowledge to make money from it.

There is no need to speculate the market if you are not planning to buy the coins. I mean in case of BTC for the ones who already bought, their only motive is to hodl. If you just worry about the market, then definitely you will lose patience and ultimately you will end making of loss. A good observer definitely makes a better speculator, but sometimes we only need to observe, no need to worry about the market. This is my opinion , willing to hear other people’s opinion on this.

Yes OP, I do agree that "a good observer makes a better speculator" but that is only the thing, that person can't still predict what will happen next.
He could speculate what we see (just like the normal thing we do), but his focus and time spend in the market make this person even better. However, it was not the only reason why we succeed here, we should also be smart, especially when making a decision which is most of the time we fail in this.

Because with that events either bad or good you can compare the possible scene that might happen in the market that's why its good to be observant on how the market goes. If many newbies will extend more their knowledge and always base their actions towards current conditions on what they observe then we can see more healthy discussion about earnings even if there's bearish condition happening.

Are you a successful trader? Have you made a lot of money in trading? Because that's precisely the implication of what you're saying, that it is easier to predict short term price movements than long term. So tell me, what's your price prediction of Bitcoin tomorrow? In the next 3 days? Or next week? What's going to be the price of Bitcoin next month?

Here's my long-term prediction: Bitcoin would reach $100,000 in 2025. That's an easy prediction.

The forum is not exclusively made up of people who are discussing about bears and corrections. If that's what you think is the purpose of this forum, I'm sure you're wrong.

I think it's more easier to predict short term than long term because a lot of things can happen in the long term which could affect the flow of the price. Not only newbies but all are affected whenever there's a correction and bears. All of our portfolio goes down but maybe it's true that more newbies can panic though it's also possible for a newbie to study the market first so that they will know what to expect on here.

A lot of us in the forum are experienced btc users but we are still hoping that the price will now recover. If you aren't really bothered then you aren't supposed to be here in this forum joining the discussion about the bears and correction.

That's true. If you heard about a big bad news that is related to Bitcoin in one way or another, you would understand if the price would react negatively like what happened when Elon suddenly announced that Tesla has stopped accepting Bitcoin payment or when China announced it bans mining. But as somebody who has been with Bitcoin for a long time, you wouldn't panic or be worried. Such situations couldn't affect you anymore.

Bitcoin has seen over +3.85% in the last 24hours. There is a strong indication 26th of October will end Bullish as well, After wards we enjoy a little of range market for a while before the market decides where next to move. A little profit for the buyers and more profit for the holders. Traders will have some fun night tonight especially the day traders who go long most often. After the first two candle stick breaking the morning of 26th it will be more riskier for day traders to join the trend except the 4 hrs candle stick keeps closing with a higher wick and a lower body.

Observation is an important skill anywhere, A good observer of the market movement will make a good speculator. To become a good speculator, learning to be observant is a must. To become better in speculating, these are some advice from more experienced speculators.
Never act on tips, There are times when you should speculate and times when you should not, Anticipate the psychological effect of a particular piece of news on the mind of the public, Learn to recognize danger signals.

Learn more from professional speculators here: https://guerric.co.uk/how-to-speculate/

In terms of market observations, each observer has a different view in his efforts to approach the profit point. I can say the speculation is born of those who choose to day trade. By any other name, they are day traders. Their strategies are also definitely different.
What you say is not wrong. For me, it is a part that must be considered as a form of caution. If we try to offer this kind of speculation to long-term traders, maybe they will refuse in a wise way to avoid misunderstandings.

In fact nothing is perfect but at least a few things can help. Experience, expertise, observation, and courage in decision making, as well as emotional control are some of the things that will be very influential. Of course it is clear that these things will really help the trader to get good results, but not all of them will achieve perfect.