A successful trader must be an educated trader? - page 33.

kinzey

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Quote from: richan on May 06, 2018, 08:09:40 AM

Is it true to state that every successful trader is an educated trader. We know how trading is tedious,reading of chart, analysing the market and making a decisive decision. Do you agree any successful trader must be an educated?

A successful trader should atleast know the basic chart reading, it's mainly for entry and exit point. Next i'd say would be FA of the coins, also emotions should always be in check when trading, self control and knowing when to sell or buy. And lastly, market sentiments, as no matter what the chart or fundamentals of the coin is, if the market sentiment is bearish, and panic selling at it's best, TA and FA wont help much, though such coins will always bounce, those the solid once atleast. But i dont think we want to be a bag holder unless you intend to keep it for long term.

karungbitcoin

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Yes i agree with that, to become pro trader should be through education, not only education about technical and fundamental analysis but also important education about psychology of trading, because actually psychology of trading is bigger factor that possible to make consisten profit.

TRAID

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Absolutely. Without education and experience, trading doesn't differ from gambling. But trading knowledge comes at a high price...you need to lose some money to gain that knowledge and experience, and most importantly the mindset. it doesn't come cheap. You mustn't be afraid of losing money..consider that loss as an investment.

el kaka22

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Quote from: Harley_Quinn on May 10, 2018, 11:49:50 AM

This is an optional criterion for trading cryptocurrencies on the market. I think you will learn to lose to learn from their mistakes.

Sometimes when some of you type some things, I used to wonder how you even came about something like that.
What is the point spending some huge number of days losing and learning from your losses and mistakes when you could have used those number of days to learn pretty well to be able to avoid those mistakes in the first place.

You will only get frustrated in trading if you think you can start by having losing experience and by the time you have ended up losing so much, you will only be left with nothing to even trade with and then back to square one to learn, which you could have done in the first place.

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Quote from: no0dlepunk on May 06, 2018, 08:41:23 AM

Not 100% true - I know some traders in the cryptosphere who doesn't even know how to read EMAs. In fact these folks do alot of speculations; but they earn handsome money, man.

If a trader a qualified and well educated then he will learn related things in short time compare to that of literate person. He will use better techniques and tactics to become a successful trader in short period. But education is not mandatory. Just little bit knowledge is required for a successful trader. The time will teach him everything about trading.

whaawh

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Quote from: ufaiz50 on May 11, 2018, 11:13:17 PM

I do not really agree, some friends I know through social media are quite successful with crypto trading but he did not get a educated, I think a trader more to his skills, experience and knowledge, it's only a small part. If in logic a trader without education I think it will be very difficult to be pro because in education we learn a lot of things which we can apply when trading.

I hold that opinion when a person in practice manifests his abilities, because even he knows the theory, he may not be the best professional. This trend is seen not only in the business of crypto currency, but also in real life in various spheres of human activity.

ufaiz50

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I do not really agree, some friends I know through social media are quite successful with crypto trading but he did not get a educated, I think a trader more to his skills, experience and knowledge, it's only a small part. If in logic a trader without education I think it will be very difficult to be pro because in education we learn a lot of things which we can apply when trading.

entrepmind23

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Quote from: richan on May 06, 2018, 08:09:40 AM

Is it true to state that every successful trader is an educated trader. We know how trading is tedious,reading of chart, analysing the market and making a decisive decision. Do you agree any successful trader must be an educated?

Not every trader but most of the trader are educated or knowledgeable about trading and they know what they are doing compared to those who are successful because they were able to buy early. There are different strategies in trading like some just depend on news and some are using technical analysis and some are using both to be a profitable trader. I believe that those who are successful without knowledge are just gambling because they are hoping to get lucky and they may be lucky before earning 100x of a coin because they bought early but if you aim to make it a living then you should have a trading plan because it should be sustainable and not just depending on pure luck.

Quote from: muddy waters on May 11, 2018, 04:40:41 PM

Trading very much consists of analyzing the political and financial news and predicting what would happen if this or that financial institution or country behaves in a certain way.
So how would one do all that analysis if he doesn't even have the idea of what is happening in the world and what the prospects of the crypto market are?
I don't mean that traders automatically should have a PhD in finance or economy (self-teaching and Google rule Grin

), but still there should a certain educational basis and practical skill.

It is not necessary that you have formal education because even those who didn't finish school are the successful ones and in fact there is a high tendency for those street smart to be successful than the book smart because they know how to deal with people and they have experience which would make them control their emotions which is vital when trading.

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Quote from: richan on May 06, 2018, 08:09:40 AM

Is it true to state that every successful trader is an educated trader. We know how trading is tedious,reading of chart, analysing the market and making a decisive decision. Do you agree any successful trader must be an educated?

Yes i agree with you, as what you said trading is very tedious and etc,means it really require Knowledge before getting into it ,how can you understand whats happening in the world of crypto without knowledge? For me it is necessary to educate yourself first before taking any risk and your experience will lead throughout your journey.

Xardasim

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Quote from: richan on May 06, 2018, 08:09:40 AM

Is it true to state that every successful trader is an educated trader. We know how trading is tedious,reading of chart, analysing the market and making a decisive decision. Do you agree any successful trader must be an educated?

It may be, but you have to work hard for it. It is not long that the educated trader has to learn about trade, but the uneducated trader must learn everything from scratch like a beginner. Also, the right analysis of the news and the technical analysis are in the conditions of trade.

djkyno

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For sure a successful trader must be an educated trader, and must having at least the basical required knowledge about trading, otherwise he can't being successful with this very risky field. The knowledge is required to minimize the risks and to rise the possibilities of making successful trades.

muddy waters

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Trading very much consists of analyzing the political and financial news and predicting what would happen if this or that financial institution or country behaves in a certain way.
So how would one do all that analysis if he doesn't even have the idea of what is happening in the world and what the prospects of the crypto market are?
I don't mean that traders automatically should have a PhD in finance or economy (self-teaching and Google rule Grin

), but still there should a certain educational basis and practical skill.

stomachgrowls

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Quote from: Nahl on May 11, 2018, 01:47:59 PM

some people can get the profit with following the market trend and they mostly does not know educations or knowledge to starting trading but indeed educations is necessary because we can't forever count on market predictions and luck because analysis based on trading knowledge is necessary to lead us became an successfully traders

Every person can able to do such thing where we can possibly make money out of those trades without having any basis and do purely or randomly rely on luck but we do all know this thing would really just like on gambling , no basis on what you trade up and just simply wait for the result.This kind of method wont sustain for long term and would really be a risky thing,if you do target to be profitable then knowledge would always be an advantage.

Nahl

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some people can get the profit with following the market trend and they mostly does not know educations or knowledge to starting trading but indeed educations is necessary because we can't forever count on market predictions and luck because analysis based on trading knowledge is necessary to lead us became an successfully traders

proTECH77

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Trading requires a whole lot of skills and analysis, which only can probably be achieved by someone whom must have had the educational background of trading. So, it can be said that an educated trader is a successful trader.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Kayum10029 on May 11, 2018, 10:08:14 AM

partially true... a successful trader should have enough knowledge about trading and mining. but an little educated person have much knowledge about trading and a educated person having nothing knowledge about trading.....

Being educated and being experienced about trading is not the same thing. If the education is on trading then it can be compared. Most people here are hobbyist traders and very few people are professional traders - they dont hang around in such forum rather drive lambos. Grin

Quote from: Tigorss on May 11, 2018, 10:21:25 AM

you need to know a few things in the tranding, how your emotions are controlled while still at level 1 is the lowest level because that's when our patience is tested and our emotions whether it will continue or fall

The more important thing is knowing the basics of trading and then controlling your emotions properly. If you are not going to panic sell then you are good to go. People who get heart attacks from every spike or drop in price are the ones who actually get frustrated by trading and eventually lose money.

cfif123

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it is absolutely true and must be a successful trader must have a high education and experience as well. because to be a trader is not easy and has a great risk as well. so education is very important for traders and others

ArkiCrypto

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It's not necessary educated. Just have enough proper knowledge about the trading system, any person can trade and can be expert even though they're not educated. Well we can be expert through reading online articles and watching youtubes videos no matter if we're educated or not. (But I think you're referring to "Knowledge about trading" and not educated term because educated meaning has a proper education.)

But I think to be a successful trader you should experience all the scenarios in trading such as losing, gaining, changing strategies, etc. Well if you don't experience losing in trading then you can't consider yourself as a successful because no matter what you should experience losing first in order to achieve success.

Tigorss

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you need to know a few things in the tranding, how your emotions are controlled while still at level 1 is the lowest level because that's when our patience is tested and our emotions whether it will continue or fall

Kayum10029

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partially true... a successful trader should have enough knowledge about trading and mining. but an little educated person have much knowledge about trading and a educated person having nothing knowledge about trading.....

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