A thing worst than "don't trade with your emotion" a trader should avoid - page 4.

jostorres

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Quote from: Findingnemo on February 24, 2022, 10:50:34 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.

Cling18

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Quote from: Lucius on February 20, 2022, 11:19:23 AM

If people used their brains a little more, then they wouldn’t waste time on such nonsense, which is really just a waste of time. These people just use what technology allows them to do and make decent money on it, and I wouldn't spend a second of my time watching something like that, even if it's the only thing that can be watched.

The worst of them are those who promote everything they are paid for, regardless of the fact that they know that it will cause direct damage to their viewers. One only has to go back a few years and see how they lied about how Bitcoin came to an end, and that some bitcoin tr(c)ash becomes a new big thing.

These influencerspstly contribute confusions which could also affect our emotions which usually result in wrong decision making. As for me, it would be smarter to do our own research for us to be more knowledgeable about trading so we'll also know how to deal with every market situation. There will surely lot of things that might affect our emotions but if we already know how to observe and do technical analysis, nothing could influence us negatively.

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Quote from: teosanru on February 25, 2022, 05:34:37 PM

I feel one should absolutely avoid surfing around youtube for trading, especially for the trades one has already entered into, some people have the habit to see youtube videos in search of validation of their idea just to make sure they are correct but this is a pretty bad idea because you actually just take up the idea which matches your thinking the most and not the best idea. One should just have a few educative channels for trading and one should only follow them to learn new things so that you are not feeding yourself every day with this garbage. The worst part obviously is that these traders would act on youtube as if there is no better trader than them.

Totally agree, trading YouTube channels don't have your best interest in mind, it's unlikely that they really care and you don't really know if they care so avoid them, no matter how much you want to say that they're not biased, they already have a stake in the cryptocurrencies that they're going to talk about so it's not their problem if you're late to the party.

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Quote from: Cookdata on February 20, 2022, 04:33:30 AM

There's a popular trading adage that says you shouldn't trade with emotion since it might lead to wrong decisions about when to buy and sell, but I think there is a worse thing than emotion.
Some YouTube channels are excellent evaluators who will never be biased in their judgments, they will tell you everything, even the fair fundamental and technical aspects of everything you need to hear, but some are so bad that I get irritated when I see their YouTube video thumbnail.
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.

snip

Shillings and hype are good sometimes, they might have their influence on bitcoin/Altcoins growth but I think it's not good to follow their steps because they say it will 100x, they are overdoing it and it doesn't help traders.
Be focused on your own findings and make a clear decision on your trades.

It's funny how most of the thumbnails have people in them with their mouth wide open showing that they are astonished about it.
But in reality they would have clicked so many pics in that pose to choose the most enthusiastic one.
Youtubers are too good at their game on making people believe their emotions and the content they provide in their videos.
As you say, traders must trade on the knowledge they have obtained and practice and not such emotions especially from these videos.

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Quote from: teosanru on February 25, 2022, 05:34:37 PM

I feel one should absolutely avoid surfing around youtube for trading, especially for the trades one has already entered into, some people have the habit to see youtube videos in search of validation of their idea just to make sure they are correct but this is a pretty bad idea because you actually just take up the idea which matches your thinking the most and not the best idea...

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.

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The interesting thing about some of these expert traders on YouTube is that majority of them don't even make technical analysis of the market and often rely on FA or hype to base their bias on. Afterwards, they put out a clickbait to attract unsuspecting people who are there to learn and it's that bad. It's not just happening with crypto but other industries as well. I feel like the influencer space has been too saturated that people don't care about the contents they're dishing out as long as they get thousands of views even though they have to mislead people to achieve that.

Quote from: teosanru on February 25, 2022, 05:34:37 PM

I feel one should absolutely avoid surfing around youtube for trading, especially for the trades one has already entered into, some people have the habit to see youtube videos in search of validation of their idea just to make sure they are correct but this is a pretty bad idea because you actually just take up the idea which matches your thinking the most and not the best idea. One should just have a few educative channels for trading and one should only follow them to learn new things so that you are not feeding yourself every day with this garbage. The worst part obviously is that these traders would act on youtube as if there is no better trader than them.

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.

teosanru

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I feel one should absolutely avoid surfing around youtube for trading, especially for the trades one has already entered into, some people have the habit to see youtube videos in search of validation of their idea just to make sure they are correct but this is a pretty bad idea because you actually just take up the idea which matches your thinking the most and not the best idea. One should just have a few educative channels for trading and one should only follow them to learn new things so that you are not feeding yourself every day with this garbage. The worst part obviously is that these traders would act on youtube as if there is no better trader than them.

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You don't wonder that OP as many YouTubers will talk nicely as they are somewhat promoting something and they are paid for that. you have found it out from reality and yes, many of them never know how trading will work in actual trades. Indeed, they are right saying "don't trade with your emotion" and for them also to control it otherwise, failure will certainly come to them.

I don't even follow any of them (Youtubers), I just make my own strategies as trading is full of discoveries. And I also think that some strategies may not work all the time and so we need to figure out what will be the best.

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Quote from: wxa7115 on February 25, 2022, 03:25:28 PM

Quote from: Cookdata on February 20, 2022, 04:33:30 AM

There's a popular trading adage that says you shouldn't trade with emotion since it might lead to wrong decisions about when to buy and sell, but I think there is a worse thing than emotion.
Some YouTube channels are excellent evaluators who will never be biased in their judgments, they will tell you everything, even the fair fundamental and technical aspects of everything you need to hear, but some are so bad that I get irritated when I see their YouTube video thumbnail.
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.

Shillings and hype are good sometimes, they might have their influence on bitcoin/Altcoins growth but I think it's not good to follow their steps because they say it will 100x, they are overdoing it and it doesn't help traders.
Be focused on your own findings and make a clear decision on your trades.

LOL if we take a look at all the pictures you put together we can infer a rule, if the thumbnail of the video has a person with his mouth wide open and a bitcoin symbol then you know it is not worth watching. Wink

But being serious this is what happens with the media, in order to bring attention the media most of the time exposes the views of those which have more radical ideas because this generates more views and clicks and the voices of the moderates are not considered, the same happens here, who do you think will get more attention, the trader that predicts sideways movement for the next months or the one that says there is a big bull market coming? And it is obvious the latter will get way more attention than the former.

Good and tempting words will always attract the crowd, even if its beyond already the truth. Well, this is not something new as most of the youtubers are always making promotions in their products or in any content that they will be paid. But if we already know that those are mostly exaggerations, then we should avoid following them and focus on what we think is true that is not biased and that is purely based on facts and knowledge that we have gained. In trading, its not just about the hype and trend, but its more on the effective strategies and the right attitude we opt to have when we trade because that is more proven to have gains, and not on losses.

wxa7115

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Quote from: Cookdata on February 20, 2022, 04:33:30 AM

There's a popular trading adage that says you shouldn't trade with emotion since it might lead to wrong decisions about when to buy and sell, but I think there is a worse thing than emotion.
Some YouTube channels are excellent evaluators who will never be biased in their judgments, they will tell you everything, even the fair fundamental and technical aspects of everything you need to hear, but some are so bad that I get irritated when I see their YouTube video thumbnail.
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.

Shillings and hype are good sometimes, they might have their influence on bitcoin/Altcoins growth but I think it's not good to follow their steps because they say it will 100x, they are overdoing it and it doesn't help traders.
Be focused on your own findings and make a clear decision on your trades.

LOL if we take a look at all the pictures you put together we can infer a rule, if the thumbnail of the video has a person with his mouth wide open and a bitcoin symbol then you know it is not worth watching. Wink

But being serious this is what happens with the media, in order to bring attention the media most of the time exposes the views of those which have more radical ideas because this generates more views and clicks and the voices of the moderates are not considered, the same happens here, who do you think will get more attention, the trader that predicts sideways movement for the next months or the one that says there is a big bull market coming? And it is obvious the latter will get way more attention than the former.

The Cryptovator

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If you are talking about Youtubers, then nothing except earning revenue from Google. They just add some attractive thumbnails to increase views and earn revenue. And Youtubers promote a lot of shitcoin by taking money from the project owners. I know it creates a flow for sometimes but eventually, holders become losers who followed their video. Because earlier buyers take profit and new buyers lose funds. To be honest, trading isn't an easy task where you need to use your brain in real-time. Should keep patience and take decisions with a cool mind rather than be influenced by YouTubers.

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Quote from: Findingnemo on February 24, 2022, 10:50:34 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.

Besides that, Youtube content creators only show the market in their videos but don't trade real. They create very catchy titles to get people curious and see the content. That's a good strategy because we still find it a lot on Youtube until now. But maybe there really is someone or some people who might make Youtube content about trading and they really teach good trading techniques. We must not just follow them because they say that A coin will increase, but we must research to find the coins.

Findingnemo

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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.

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Quote from: Botnake on February 24, 2022, 07:21:37 PM

Quote from: nelson4lov on February 24, 2022, 06:58:27 PM

Quote from: retreat on February 23, 2022, 04:46:50 PM

those who claim to be traders on youtube I'm sure not all of them are traders, they're just trying to make money from the content they make. I still have minimal experience in trading but I try hard to be able to be independent in making decisions, I encourage myself to stay focused on learning and learning in trading.

It's not just in trading. Also in the crypto investing space. Majority of the people that claim to be an expert or mentor do not know what they're doing or at not really knowledgeable about the field they claim to be proficient in. That's why it's important to know how to differentiate between those that know their game and those who are just lucky. I don't take and also don't advice anyone to take to bluntly take the advices they get on crypto twitter or YouTube.

They are being paid on it so they also have to look like more knowledgeable so that it will be more convincing on part of the audience particularly for the noobs. When in real life those things are also new to them. This is the reason why traders should be more resourceful and flexible so they can come up with their own market analysis and developed strategies that will be useful for their trades. If they can't rely on their own, then trading should never be their top priority on crypto.

I don't believe anymore in most of these YouTubers. Usually, they will post clickbait photos to attract naive users. But if you are more knowledgeable with them in terms of crypto, and try to watch what they are saying. You will conclude that they are just saying trash, and I think, they also know it. But there are some people that are gullible on this topic. So they are just hoping that some of them will believe what they are preaching.

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Quote from: nelson4lov on February 24, 2022, 06:58:27 PM

Quote from: retreat on February 23, 2022, 04:46:50 PM

those who claim to be traders on youtube I'm sure not all of them are traders, they're just trying to make money from the content they make. I still have minimal experience in trading but I try hard to be able to be independent in making decisions, I encourage myself to stay focused on learning and learning in trading.

It's not just in trading. Also in the crypto investing space. Majority of the people that claim to be an expert or mentor do not know what they're doing or at not really knowledgeable about the field they claim to be proficient in. That's why it's important to know how to differentiate between those that know their game and those who are just lucky. I don't take and also don't advice anyone to take to bluntly take the advices they get on crypto twitter or YouTube.

They are being paid on it so they also have to look like more knowledgeable so that it will be more convincing on part of the audience particularly for the noobs. When in real life those things are also new to them. This is the reason why traders should be more resourceful and flexible so they can come up with their own market analysis and developed strategies that will be useful for their trades. If they can't rely on their own, then trading should never be their top priority on crypto.

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Quote from: retreat on February 23, 2022, 04:46:50 PM

those who claim to be traders on youtube I'm sure not all of them are traders, they're just trying to make money from the content they make. I still have minimal experience in trading but I try hard to be able to be independent in making decisions, I encourage myself to stay focused on learning and learning in trading.

It's not just in trading. Also in the crypto investing space. Majority of the people that claim to be an expert or mentor do not know what they're doing or at not really knowledgeable about the field they claim to be proficient in. That's why it's important to know how to differentiate between those that know their game and those who are just lucky. I don't take and also don't advice anyone to take to bluntly take the advices they get on crypto twitter or YouTube.

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Quote from: retreat on February 23, 2022, 04:46:50 PM

those who claim to be traders on youtube I'm sure not all of them are traders, they're just trying to make money from the content they make. I still have minimal experience in trading but I try hard to be able to be independent in making decisions, I encourage myself to stay focused on learning and learning in trading.

There is a difference between a trader and an experienced trader. Anyone who converts one coin to another at a profit can call himself a trader. And will read some journals then open a YouTube channel seeking for view time.
Don't get me wrong, some people are actually good traders but they don't know how to teach people about it.
Telling someone to make their own discoveries is right but not everyone has the ability to make such researches or discoveries. There will still be need to depend on experts.

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Most of these video creators are not really a trader. We know their purpose on why they're making these videos but its up to us whether to believe them or not. If you're a kind of trader who rely on youtube videos to get information or to learn, make sure to only watch the videos with a helpful content and not just pure speculation.

Quote from: Cookdata on February 20, 2022, 04:33:30 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.

Indeed. Experience is a best teacher so if you already gain knowledge and experience then it wont be hard to understand trading and come up with a strategy to maximize your profit.

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Quote from: Japinat on February 23, 2022, 06:12:57 PM

Quote from: retreat on February 23, 2022, 04:46:50 PM

those who claim to be traders on youtube I'm sure not all of them are traders, they're just trying to make money from the content they make. I still have minimal experience in trading but I try hard to be able to be independent in making decisions, I encourage myself to stay focused on learning and learning in trading.

That's really possible as most of them are not even telling the reality of trading but only to emphasize that trading with bitcoin will be very profitable in the long run. Of course it is, but its a very tough road before traders can achieve it. This is most of the youtubers lack, "transparency". So if you wish to trade and be successful in it, don't rely on them and come up with your own facts based market analysis. After all, once you get lose in trading because you rely on them, they will not be responsible on it and you alone can only be blame. Because a trader should be fully responsible for all his actions.

We really have to learn to trust our own analytical abilities, because if we only rely on other people's opinions to make decisions. It will not only
make us lose, but our trading skills will never develop. If we don't understand how to analyze the market, the solution is not to listen to signals
from other people, because the analysis of others does not guarantee 100% accurate. If we want to learn trading from YouTube videos,
don't look for youtubers who only give signals. But look for youtubers who really provide education, which teaches us to be able to analyze
the market ourselves. Or we can also take trading courses on trusted platforms, so that we have good research and analysis skills. Usually,
if a trading course is not only technical knowledge we get, but we are also guided by experienced mentors. Then it opens the opportunity to become
a successful trader in the future. Never be lazy to learn and never give up when we fail, because even professional traders experience many failures
and a long process to be able to generate large profits.

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Quote from: retreat on February 23, 2022, 04:46:50 PM

those who claim to be traders on youtube I'm sure not all of them are traders, they're just trying to make money from the content they make. I still have minimal experience in trading but I try hard to be able to be independent in making decisions, I encourage myself to stay focused on learning and learning in trading.

That's really possible as most of them are not even telling the reality of trading but only to emphasize that trading with bitcoin will be very profitable in the long run. Of course it is, but its a very tough road before traders can achieve it. This is most of the youtubers lack, "transparency". So if you wish to trade and be successful in it, don't rely on them and come up with your own facts based market analysis. After all, once you get lose in trading because you rely on them, they will not be responsible on it and you alone can only be blame. Because a trader should be fully responsible for all his actions.

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