A thing worst than "don't trade with your emotion" a trader should avoid - page 3.

justdimin

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Quote from: Findingnemo on March 01, 2022, 08:56:55 AM

I don't beleive trading can be taught by anyone unless we learn it by ourselves from our experience. Yes there are experts team who can help and guide to learn things fast but it needs a lot of money but they just teach and we only know hiw much we can understand in the short time period, there are also some YouTube channels which affiliate themselves with trading courses and make money out of it.

That is true in most things in life. Sure you can't be a doctor without going to school, you can learn "some" things but most things will be left to actually doing and seeing it. However, things like becoming a lawyer, all depends on learning the law, or becoming a software developer doesn't require a college education, or being in marketing, or being a journalist, or being a small business owner. None of these require a college education at all, you can all learn it yourself if you really wanted to.

There are millions of people in the world who learned these things without going to college for it. Even if they graduated from college, it could be irrelevant to what they are doing right now.

xSkylarx

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Quote from: Findingnemo on March 01, 2022, 08:56:55 AM

Quote from: TheUltraElite on February 28, 2022, 07:06:26 AM

Quote from: Findingnemo on February 26, 2022, 11:51:58 AM

But what they are doing is giving them money so if we are simply waiting for someone to teach how to become rich then it will never happen, we need to find our own way by doing something and experimenting lot of things and facing difficult times.

Yeah we know that because we have been trading on our own. These channels get users to follow them and get paid from their followers. But it is a short-term story only, like a gamble and not professionally done trading analysis. These things cannot be done by others and you are only placing the orders, it should be done by the person or a team working together.

I don't beleive trading can be taught by anyone unless we learn it by ourselves from our experience. Yes there are experts team who can help and guide to learn things fast but it needs a lot of money but they just teach and we only know hiw much we can understand in the short time period, there are also some YouTube channels which affiliate themselves with trading courses and make money out of it.

Yes, this is similar to creating your own strategy; yes, you are aware of other strategies, but they aren't working for you; however, they will work for others. Learning to trade is extremely difficult at first, I can guarantee it, because there are times when you will lose everything you have worked so hard for. You have the fundamental knowledge and a strategy that you believe will work, but it turns out that it will not. That is why the majority of traders believe that you can truly learn over time, with some traders learning for a year or longer. What's really important is that you should learn from your mistakes in trading.

Reid

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Quote from: Cookdata on February 20, 2022, 03:33:30 AM

but some are so bad that I get irritated when I see their YouTube video thumbnail.

Never thought of that. Thank you.
I find it hard to believe every Youtube videos that are made with technical analysis. For me, this are all their opinions in the market and not accurately what will happen. They give you the basics of trading, I think that is what we should embrace and not by following every decision they will make.
As you said, "clear decision" which means, it's on us individually at the end of the day.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Findingnemo on March 01, 2022, 08:56:55 AM

I don't beleive trading can be taught by anyone unless we learn it by ourselves from our experience.

This is the best way to learn trading, though a safer method is paper trading using virtual capital, like a board game. It should be done by newbie traders before using real funds.

Quote

Yes there are experts team who can help and guide to learn things fast but it needs a lot of money but they just teach and we only know hiw much we can understand in the short time period, there are also some YouTube channels which affiliate themselves with trading courses and make money out of it.

It is mostly about the money, these youtubers are using it for a living and therefore whatever they do now, one day they will start affiliate links and paid promotions, it is just a matter of when. Everyone of them is sold and they dont care about what their followers are making - reality of influencer marketing.

Agree with @crwth that the amount of info on the net is too vast to verify each and read. That is why one does not need to depend on youtubers for this, they can learn on their own.

crwth

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I think if you intake too much information from the internet, whether it is in video format or article, it's going to be your decision at the end of the day in where you are going to be placed into if you are long or short ^{(if you are trading futures/margin)}. System overload can happen, and it's up to you what to do. Having too much is not good, and there might be overlap with the knowledge, and there could be conflicts.

It is better to stick to a strategy that you can do for a long time and be consistent with it.

Findingnemo

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Quote from: TheUltraElite on February 28, 2022, 07:06:26 AM

Quote from: Findingnemo on February 26, 2022, 11:51:58 AM

But what they are doing is giving them money so if we are simply waiting for someone to teach how to become rich then it will never happen, we need to find our own way by doing something and experimenting lot of things and facing difficult times.

Yeah we know that because we have been trading on our own. These channels get users to follow them and get paid from their followers. But it is a short-term story only, like a gamble and not professionally done trading analysis. These things cannot be done by others and you are only placing the orders, it should be done by the person or a team working together.

I don't beleive trading can be taught by anyone unless we learn it by ourselves from our experience. Yes there are experts team who can help and guide to learn things fast but it needs a lot of money but they just teach and we only know hiw much we can understand in the short time period, there are also some YouTube channels which affiliate themselves with trading courses and make money out of it.

Pasa32

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Yeah, I also don't like these types of thumbnails they just do it for increasing their impression rate, we all know it is not possible for BTC to 100x in a month or a year. Most newbies will watch these videos but they don't know that they are just doing it for YouTube Earning.
There are other Best YouTubers also which teaches newbie right way of trading, doing Technical Analysis & some basic rules of trading. Newbies must watch these YouTubers' videos.

I have never ever watched the above showed YouTubers so I can't tell how they teach or show the market. So Please DYOR

stepwilli

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Lol, one thing I have never done is going to YouTube to watch videos about which coins to buy it any recommendation at all, I really don’t look at those videos, because I have never picked interest for once Grin

.

Not that they may be bad, and not that I don’t make use of YouTube, I use YouTube and I do search for and watch a lot of videos, but when it comes to cryptocurrency and making decisions here, I just don’t see YouTube as an option, I just do research and look for articles to read and help my research than watching videos of someone yelling 100X profit at me, not really my thing.

BuNga_cute

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Quote from: seleme on February 28, 2022, 05:25:25 PM

Almost nailed it! The shillers keep promoting useless new projects and create HYPE that can be a trap for inexperienced investors who wanna get rich quickly.
Lack of experience leads to buying random shitcoins here there and they keep blaming the team for low market performance before analyzing the project itself fundamentally.
YouTubers with shilled content should avoid strongly recommending the altcoin bags, I usually can smell fishy content on social media thanks for the experience of many years.

We do not immediately believe what influencers promote, and don't think trading or investing in crypto can make us rich instantly.
Most influencers, especially on YouTube platform those who promote new projects definitely aim to make the projects they promote hype,
even though they already bought it before. When many people buy these projects, the prices of these projects will skyrocket, but in a short time
the price will fall very deep. That's because the influencers who promote these projects are already taking profit when the price goes up.
And those of us who buy at the peak price will usually be stuck in these projects for a long time, because what influencers usually promote
are shitcoins, which are usually used for pump and dump.

So I suggest before buying coins make sure we do research and analysis correctly, so that we can make sure the coins we buy are really potential
and have a bright future. Don't choose coins based on other people's opinions, their opinions can sometimes make us make wrong decisions.
So learn to trust our own abilities and never be lazy to learn all things crypto related, because we have a lot of knowledge we can avoid choosing
the wrong coins.

seleme

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Almost nailed it! The shillers keep promoting useless new projects and create HYPE that can be a trap for inexperienced investors who wanna get rich quickly.
Lack of experience leads to buying random shitcoins here there and they keep blaming the team for low market performance before analyzing the project itself fundamentally.
YouTubers with shilled content should avoid strongly recommending the altcoin bags, I usually can smell fishy content on social media thanks for the experience of many years.

Finestream

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Quote from: TheUltraElite on February 28, 2022, 07:06:26 AM

Quote from: tvplus006 on February 26, 2022, 10:06:08 AM

I noticed that most people choose YouTube channels where the opinion expressed coincides with their own. After all, everyone wants to hear confirmation of their choice. The main mistake is that we do not take into account the opinions of others when our strategy is not correct.

Confirmation bias is a common thing among traders. It is a human nature to seek confirmation because we have guilt inside which makes us want to seek it. Point is that in common day to day life, this may be necessary but in trading this is wrong.

But since it is human nature, youtube and other social media influencers know this and use it to gradually develop a followership. This "minion" type of following is pretty inorganic and mob-like. Not something I like personally, but if someone is making off this, then props to them for being able to do it.

Quote from: Findingnemo on February 26, 2022, 11:51:58 AM

But what they are doing is giving them money so if we are simply waiting for someone to teach how to become rich then it will never happen, we need to find our own way by doing something and experimenting lot of things and facing difficult times.

Yeah we know that because we have been trading on our own. These channels get users to follow them and get paid from their followers. But it is a short-term story only, like a gamble and not professionally done trading analysis. These things cannot be done by others and you are only placing the orders, it should be done by the person or a team working together.

Those youtube sensations are only showing how good they are on cam, but in real life they are still noobs to their own contents. This is why we should never totally believe on those youtubers because not all of them are experts on trading. Some only need to pretend because they are been paying good amount. I think its always better to trade based on our own knowledge and experience. At least we know, what's the real scenario in trading and we got to develop and master our own skills and strategies throughout a long span of experience.

kapalmabur

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Quote from: palle11 on February 27, 2022, 12:57:23 PM

Quote from: Questat on February 27, 2022, 07:30:47 AM

Sometimes it happens that our emotions lead to success but here in trading, that is something different. But I don't think need to do this, I guess controlling this to the least we can do is enough. We can still do better trades even having this feeling for as long as we can manage ourselves and make decisions wisely. Emotion may affect us if we never think wisely or we do the right thing. We just need to be mature enough upon trading, otherwise.

Being mature is doing the right kind of trade. Don't trade and after you lost then you regret, that means you did the trade with emotion. Trade and after you lost then you are proud to take the decision. Trading with emotion cost regret and most losses is because it was done with emotion. A right type of trade is taking your time to analyse the charts and see the direction of price and enter at the right time, possibly you make profit with that.

Before starting to trade, you should prepare everything including controlling emotions,
trading with emotions that will only make us lose and in the end regret,
in trading patience and analysis is important

RealMalatesta

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Quote from: palle11 on February 27, 2022, 12:57:23 PM

Being mature is doing the right kind of trade. Don't trade and after you lost then you regret, that means you did the trade with emotion. Trade and after you lost then you are proud to take the decision. Trading with emotion cost regret and most losses is because it was done with emotion. A right type of trade is taking your time to analyse the charts and see the direction of price and enter at the right time, possibly you make profit with that.

What did they did there of legalizing btc is a good decision since the country is already suffering from an economic crisis, btc can help the country to recover again. I heard that the fiat in this country is almost useless but with the aid of btc, people can now have their purchasing power back.

For those people that are unemployed, they can get involved in the mining activities to earn extra income since electricity is not really a big concern in this country, they will only worry if where they will get the capital to buy a mining equipment but I'm also worried what if they charge too much fees or tax on the poor miners as it's said that they have a corrupt authorities.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: tvplus006 on February 26, 2022, 10:06:08 AM

I noticed that most people choose YouTube channels where the opinion expressed coincides with their own. After all, everyone wants to hear confirmation of their choice. The main mistake is that we do not take into account the opinions of others when our strategy is not correct.

Confirmation bias is a common thing among traders. It is a human nature to seek confirmation because we have guilt inside which makes us want to seek it. Point is that in common day to day life, this may be necessary but in trading this is wrong.

But since it is human nature, youtube and other social media influencers know this and use it to gradually develop a followership. This "minion" type of following is pretty inorganic and mob-like. Not something I like personally, but if someone is making off this, then props to them for being able to do it.

Quote from: Findingnemo on February 26, 2022, 11:51:58 AM

But what they are doing is giving them money so if we are simply waiting for someone to teach how to become rich then it will never happen, we need to find our own way by doing something and experimenting lot of things and facing difficult times.

Yeah we know that because we have been trading on our own. These channels get users to follow them and get paid from their followers. But it is a short-term story only, like a gamble and not professionally done trading analysis. These things cannot be done by others and you are only placing the orders, it should be done by the person or a team working together.

passwordnow

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Quote from: palle11 on February 27, 2022, 12:57:23 PM

Being mature is doing the right kind of trade. Don't trade and after you lost then you regret, that means you did the trade with emotion. Trade and after you lost then you are proud to take the decision. Trading with emotion cost regret and most losses is because it was done with emotion. A right type of trade is taking your time to analyse the charts and see the direction of price and enter at the right time, possibly you make profit with that.

Trading with analysis has always been the foundation of those actual traders, day traders or not. That's the step that must be followed because trading without any plan or you don't analyze, you're good at throwing your money with your trades. People think that it's easy to trade if they've seen others making rounds and all the time positive with his trades. But it's not like that, you'll never know what they'd went through and the hardship of accepting defeat during their early days of trading which is mostly all about losing and learning.

palle11

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Quote from: Questat on February 27, 2022, 07:30:47 AM

Sometimes it happens that our emotions lead to success but here in trading, that is something different. But I don't think need to do this, I guess controlling this to the least we can do is enough. We can still do better trades even having this feeling for as long as we can manage ourselves and make decisions wisely. Emotion may affect us if we never think wisely or we do the right thing. We just need to be mature enough upon trading, otherwise.

Being mature is doing the right kind of trade. Don't trade and after you lost then you regret, that means you did the trade with emotion. Trade and after you lost then you are proud to take the decision. Trading with emotion cost regret and most losses is because it was done with emotion. A right type of trade is taking your time to analyse the charts and see the direction of price and enter at the right time, possibly you make profit with that.

Questat

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Sometimes it happens that our emotions lead to success but here in trading, that is something different. But I don't think need to do this, I guess controlling this to the least we can do is enough. We can still do better trades even having this feeling for as long as we can manage ourselves and make decisions wisely. Emotion may affect us if we never think wisely or we do the right thing. We just need to be mature enough upon trading, otherwise.

CryptopreneurBrainboss

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Quote from: nelson4lov on February 25, 2022, 04:43:24 PM

In spite of these, there are good channels where the content creator takes time to put out educational content that would come in handy. Only problem is that it's hard to sort those out due to high number of youtubers putting out clickbaits. Like you said, using YouTube shouldn't be used as a justification of our ideas.

Very true and in recent times I noticed most of this YouTubers also use the clickbait because that's the easiest way it gets your video to the top. It's just like with TikTok as a content creator, you have to make use of some trending sounds to get the audience attention. We have thousands of this type of video without any real value on YouTube and immediately a particular coins starts trending you'll begin to see video from every angle you look at and it is very difficult to differentiate between the authentic videos fron those just looking for views by just looking at them, you first have to click to view.

Quote from: ?? on ??

I find all of the YouTubers and influencers as bunch of liars, I don't pay no more attention to them.

I won't generalized but I'll say a vast majority as that's more accurate, we have those that does this because they want to help out others and we have the vast majority that are motivated by money so they sell courses that wouldn't teach you anything new.

TheGreatPython

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Quote from: Cookdata on February 20, 2022, 03:33:30 AM

As a trader, you should trade with all of the knowledge you have obtained, your actions and targets should be based on your discoveries, not whether bitcoin will increase by 100x or by a million.

In short, trade on your own and not by others? But, what if the knowledge that you discovered or obtained are the same as the shillers that you saw on youtube where you also believe that bitcoin can reach a 100x price in the future? If you have been doing a regular research then your already a pro and you already know what are the good and the bad's on this market.

I do not have a problem on the people that shill top cryptos because I also believe on what they are saying. Top cryptos really have a big potential although it can be a bad thing if your a trader because a trader usually don't wait for too long and there are obstacles (or dips) that we will experience along the way.

Findingnemo

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Quote from: jostorres on February 26, 2022, 11:46:50 AM

Quote from: Findingnemo on February 24, 2022, 09:50:34 PM

Most of the YouTube creators don't make money from trading cryptocurrencies theg are making more money from YouTube ad revenue so all they want to do is to get more reach and more views for that such kind of contents and thumbnails are needed for them but don't ever make an investment idea just because someone said it will work in this way.

You’re right, they are not even trading and making money, their main source of income is through YouTube. These YouTubers are always desperate for having steady viral videos, so trust me they are ready to do anything that it is going to take them to be able to make a video that would be going viral and fetching them plenty of views.

So, they would make any video that would attract viewers, that is why you see them making all these videos about 10x, 100x and 1000x profit videos, because they know for sure that a lot of people would be falling for it. At the end you’re mostly getting the wrong information and they are benefitting from your views.

But what they are doing is giving them money so if we are simply waiting for someone to teach how to become rich then it will never happen, we need to find our own way by doing something and experimenting lot of things and facing difficult times.

Topic: A thing worst than "don't trade with your emotion" a trader should avoid - page 3. (Read 833 times)