Topic: Crypto Currency trading without knowledge (Read 684 times)

My advice is and always will be that if there is no knowledge in trading, it is best not to operate, because if you operate with knowledge, you would leave everything in the hands of luck and that is not a wise decision, because trading is not like gambling, Here in trading, an error or a bad decision is because the market was not well analyzed and that results in losing money, so it makes no sense to risk money in this way, while with knowledge you still lose, but you learn And the more you learn, the less the trader is wrong and the less money you lose and the possibility of winning increases.

Do you know one thing about Trading, people who trade always be curious to know the implications so that they won't lose their capital,  while those people who think that trading is the easiest way of making money are the people who don't be curious of implications or the risk behind trading, teenagers always been interested for anything that gives instant money and that one of things that always contribute for the lost in trading. 

Trading have mechanisms and if you don't follow the mechanisms the trader can be experiencing many challenges of losing it capital always. For the aspect of newbie having the mindset that trading is applicable to gambling, you and I know quit well that its a fallacy, trading have to do with skills, you most know the basic things of Trading before a trader can be propagate in trading, while a gambler don't need any measure except predictions and assumptions that it will win the gamble, in summary gambling is totally different from trading,  because trading have an elements or protocols you will follow as a trader.

but it is difficult to discourage anyone who wants to trade even without knowledge. even some teenagers are also interested in trading crypto.
we can explain the risks to them, and give better advice than trading at the start. but they can access videos on youtube and also follow the social media of people who share how to trade.
even though they already know the risks, they will still run into them to try to trade. most beginners have the mindset that trading crypto on a trading platform is the same as gambling using an online platform.

It's well known that any Trading without having the rudiments or foundation of Trading is a waste of resources, at least anyone who wants to venture into Trading suppose to comprehend at least forty five percent of Trading strategies,  many people today venture into disadvantages sides of Trading because of lack understanding and inability to know the risk measure.

Yes trading is a type of business and like any other business like without good strategy one cannot succeed in business just like without good knowledge in trading one cannot get profit from trading. So for trading a trader must have good knowledge about trade. Just as you cannot pass an exam without education, without the knowledge of analysis, it is impossible to make a profit from trading, and the possibility of loss is the highest in this case.

It is impossible for one to survive in the trading market without having understanding. Understanding is the only key to trading and their is no two ways about it . It is important for those who are interested in trading to dedicate their time to get better understanding to reduce the risk of lose in the market. Having understanding is a good start for trading and over time the experience also contribute to better outcome in trading .People put how to make money from trading first and do not really consider to understand it well.

Because the fact that trading is not meant for anyone, those who did not knowledgeable enough will usually lose their asset.
Trading is not an easy task, and it requires a lot of effort, dedication, and knowledge to become successful. Understand the ins and outs or the outcome of trading before diving in, as trading without a solid understanding can lead to significant losses. Developing trading skills takes time and patience, and it is crucial to have a disciplined approach to trading.

For using trading bot you have to the knowledge of trading . Because the trading bot will work automatically only when you will give it instructions. So in this case if you don't understand about trading, if you don't have knowledge of candle analysis then it will be difficult for you to experience profit with trading bot. So trading bot never be profitable for those traders who don't have Trading knowledge.

Yes it is true that many fraudulent projects on the market. Now due to poor market conditions very few project can make them successful. And many project tokens listed on exchanges, do not have high quality trading volumes due to big crash all crypto price including btc from ATH. And no coin, including Bitcoin is not ready to rise yet. So now it is very difficult and patience to earn profit by trading. And to gain profit from such a difficult market one has to do a lot of technical analysis.  But if you don't have that knowledge then how can you do that potential  technical analysis? So having proper trading knowledge is mandatory for trading Otherwise we will face loss.

Trading is hard and risky so if we still trade without understanding first how trading works and how it will be profitable, then we will lost the essence to succeed. Remember that obtaining knowledge and developing our trading skills are the most important in trading, if we can’t have that, then we will always fall as traders. However, there are also some aspiring traders that no matter how hard they try, they will never get how to take advantage over trading, and maybe they just don’t fit in trading.

Because there are so many fraudulent projects on the market, newcomers have a larger possibility of being victims. Only when a novice is prepared to keep quiet and study a complex market can knowledge be attained; when this is done consistently, good outcomes come from a job well done. Because to the significant market volatility, following a trading plan is absolutely necessary, and there is also sufficient time to allow for errors. One thing I've learned over the years is to use the trading technique that works best for your trading style on each and every trade.

Sooner or later you would realize that bots arent those things which you could really rely on and just letting them on handling out your money on trading with the market.You wont really be getting or gaining knowledge and experience towards trading field on that case and also you wont really be that so dumb on not to have those regretable feelings and thoughts that its better if you have traded on your own which is really that a very common end line i would say.

Trading without knowledge is common when you are really that a complete newbie and this is where we are really that tending to engage on because we do persevere on making
money.It might looks simple because it is really just buying low and selling high but when you are on the actual ground then those words cant really be spoken of by you.

Am not in support of using a trading bot, why will you even want to trade when you don’t have knowledge of trading, you will endup losing your money, if you want to trade, you don’t have to depend on anybody or any bots, we all know bots are not reliable, you might be making money at the beginning but at the end you might endup losing all your money, so traders should always avoid trading bots. It not normal, why will you want to use trading bots but you don’t have knowledge about trading.

Without trading knowledge crypto trading is like betting game. I will suggest never do trading before knowing trading perfectly. Without trading knowledge you may lose all your funds in a short time.

True, it doesn't make sense when a beginner can become an expert overnight, it takes us more time than imagined to become a true expert. We may go through the learning process easily, because it is a theory that can be easier to understand. But once you put it into practice it might be very different from what you learn from a theory, you need more time to apply what you have learned. Moreover, there will be many factors that must be studied, not just an introduction to the market.

Without trading knowledge, trading in the first place will end up with massive lost, you wouldnt learn anything but rather using your money to learn trading the hard way instead of using doing paper trading where all your loss and profits are just figures, they are not real and in that way, you can adjust your mistakes and learn things easily following real time, only the loss and profits that are not real, everything else is real. I would advise you not to also use bots for your trades, they are only good when there demand and FOMO in the market, everything good cease to exist as soon as bull run ends.

A newbie trader can never become an expert overnight.  And from the beginning they cannot make profit in trading. To become an expert, you have to stick to trading very hard first and learn something after losing multiple times. Or you need to study trading then you can learn to do proper analysis. Trading business is not a very easy thing.  It is a very difficult business to profit from here you have to adopt various advanced strategies to do something good from here

A lot of newbies would shun whoever advice them to stay away from trading rather to seek or aquire knowledge first, unfortunately many of them is being carried away with mostly photoshopped profits earned by some scammers online whose actions enticed and lured them to trading personally I did trade as a newbie then unfortunately lost a lot of money thinking that it's easy to make money in cryptocurrencies trading then, it will take a good number of charting time to become an experience trader couple with lot of learning and practicing thereafter embark on Live trading.

Its wrong info that OP advised about trading bot, cause its not really for beginners and who doesn't have knowledge about anything related to trading, it's for easing the trading activity based on the criteria we feed to it so trades will happen automatically but to make profits we need to have a working strategy and it will come from only based on the knowledge we have about trading.

I always tell newbies to stay away from trading.  There are many people who are interested in trading just by hearing the profit stories of others without acquiring any trading knowledge. And especially they lose in trading and consider trading as a bad thing but they don't want to understand anything before starting trading. So if someone asks me for trading advice I tell them to refrain from trading.  Because trading is not an easy task and it is not possible for everyone to succeed from here

I also have the experience of being on that situation like they treat trading as a way to produce easy money. The one who lose money on trading will understand how hard it is to do trades without proper knowledge on what they are doing. This is why I don't give advise to people in real life who want to do trading unless I know that they have started their way on doing trades and somehow managing to get some profits. Doing blind trades is just like doing gamble and to be honest for me it is much worth it the experience of just gambling rather than doing blind trades.

If someone tells me that they want to trade in the bitcoin market but they have no idea how it works, my advice is to tell them not to do it, that it is not correct to enter the market and gamble, it does not work like that, maybe if they do he does and is lucky he wins, but in the long term that luck will run out and he will lose everything, trading is not luck or guessing, you know, and we have to take that into consideration when operating.

What I told him is that he better go to a casino and manage his money there, I know that he will still lose it but at least he will enjoy the games, whereas in trading things are not like that.

Gaining knowledge about how the markets work is indispensable, but it is correct to say that is not enough, as it is impossible to know beforehand how you are going to react to the movements of the markets.

It is easy to imagine that when confronting a negative movement in the market newbie traders will be unaffected by it and they will take the right decision under those circumstances, but chances are that this will not be the case and instead newbie traders will panic and make costly mistakes during this critical juncture.

Gaining knowledge won’t be enough, you should also have to experience some trading activities so that your skills will be honed and improve. It’s okay to commit losses since you are still starting, but creating consistent losses is never helpful at all. That’s why if you can improve your knowledge and skills in trading, that would make your trades high chances to be successful. Otherwise, don’t trade if you are not ready.

Trading is never easy and is always complicated, so one should trade only when he is completely ready and has gained knowledge enough to start a small trade. Otherwise, if someone will only trade because he’s convinced that trading can make him rich quickly, that is a lie and he would have to endure a lot of losses first before he will be making huge amount of profits. Survival is also the case here, as you won’t survive losing your trade if you trade without knowledge and experience.

Would really be just that right if we do really touch up things which we do need to learn up even with the basics and the rest would really be depending on your actual experience and dealing up with things on which

this is where you do learn even more with actual engagement.Trading is never been that simple and it would really be consuming lots of time and effort because if not then you cant really make out on having a
progress of learning.It is really that needed for you to deal up with something which you are aware on what are the risk imposed ahead.You cant just dive in without any preparations.
This is why it is really that common sense that you should really be that at least preparing yourself before proceeding.

It will be very bad of for us to go into trading without have the required skills to start trading. Trading is not like gambling where we can keep getting free scores or joining a group where we can always get games to bet on without having any difficulties or know more about what we are betting. Trading is very different from that and we must learn before we think of entering into trading.

Many persons keep losing there money in trading because they lack know and we know that the lack of knowledge can be very detrimental to ourselves affecting our funds and mentality at the end.

Knowledge is always an edge on whatever things that you are dealing with, you cant just dive in without any proper preparation because it would really be resulting
into a total disaster if you arent really that mindful towards your actins.We do consider this market to be very volatile and unpredictable and there's no way that someone could easily
deal off with without any hiccups or hassles or tough challenges. Lots have tried but only a few could able to withstand this market volatility which is something
that you really must able to sustain no matter what.

yes you are right there is no guarantee about the trading outcomes so for occupying better place in cryptocurrency trading users must adopt some planning and precautions for the huge return. There are large number of individuals who are involved in cryptocurrency trading, at the beginning there will be sometime losses and sometimes win win situation but you cannot do itself but it is about market situation that what comes after your investment.

A person should must have engage with social media for the further details and knowledge about price of the tokens because if you have knowledge about the market so  you will takes the decision easily without any hesitation but you should must know that what should do when price is low and what type of decision should make when price goes pump.

And no way we can survive trading if we don't have any idea about what we are doing. Because trading is not gambling where we just need luck but this really needs knowledge and skills. Yes, trading is risky so we don't think it was an easy job for us but serious stuff that literally needs knowledge in order to earn a profit and succeed. Otherwise, we stop thinking about winning cause is it absolutely impossible in the case that OP had.

Let me say I was a contradict on this very issue as I basically made my first $2000 dollars trading synthetic indices without any primary knowledge from anywhere and I traded with a $100 account and maybe I guess it was my luck or season as I made this figure within jus 48 hours.

It is always advisable that no matter how much you might assume you know of trading, there are still alot to learn as the phrase "Learning never ends" is obviously significant with trading as there are always something new to learn.

I basically don't advice people to use a trading bot and an alternative to this is getting someone helping professionally to trade for you, giving you some commission or percentage from each trade and this is a very nice and preferable alternative to using a trading bot as there is a more guaranty to this over trading bots.

In general, one should watch more of tutorials online and try as much as possible to attend more of seminars and just try to always stay two steps ahead of the market

This is what it makes the internet so incredible, not that long ago if you wanted to find the information you wanted you needed to do this process yourself and look for the books that most likely contained this information, thanks to the internet and search engines you can find information that in the past may have taken you months in seconds, so anyone that is serious about learning how to trade can begin to do it almost immediately and waste no time on this step.

Lucky is the new traders because they could already find a lot of resources online unlike when crypto trading was in its early phase, people have done manual research to learn it. These days, we only have to be eager and patient since learning about trading will take a lot of time. We have to have the willingness study not just about the basics but also the complex strategies that we can apply in actual trading. We need to engage emotionally so we'll be able to adapt to all the challenges that we might face in trading.

This is not only applicable to cryptocurrency, in other sphies of endeavours if you don't understand what you are investing in, losses are inevitable. I always advise newbies to invest in learning before you talk of earning. You need to learn and understand how to earn before you will be successful. Learning is earning.
Cryptocurrency is a risky investment and should be treated with care. It is only when one doesn't know the nature of where they are investing that they will tend to lose out especially without knowledge.

It is not only "can be risky", but yes, it is a high risk if we are trading without any knowledge. and this tends to be careless activity. Imagine that we know nothing about crypto trading which is very risky, but we are trying to get in it. What will happen?
There may be two possibilities:
1. They will want nd get profits, not because of their capability but more of luck, like gambling without any skill, so this will not happen several times, only because they are lucky much more.
2. they will exactly lose trading and lose their money because of trading, moreover, they are doing Future trading, if their money is liquidated and they got a huge loss, it means that they will lose money without any good strategy and ways to avoid it.

That is why whoever we are, knowledge is one of the keys that must be owned. knowledge as the basis of everything for us to do something, moreover to do a certain high-risk activity.

it is not an overnight experience to gain knowledge about trading. patience, resources, diligence are important in attaining success with this activity. that's true, some are seeing this path to get rich but there's a lot to know before anyone can be successful in this endeavour. those tricks can be acquired throughout the years of being actively trading in the market. you can't gain such tricks in one go.

Trading has its process and the first and foremost is to gain sufficient knowledge and understand the real concept of trading. Skills eventually are honed by experience. So if you aim for a successful and profitable trading experience, then avoid trading if you see yourself not totally prepared for it. Otherwise, if you only do trading because of your greed for money, you will not end trading the way you expect it to be.

Thisjisnnot just all about trading the cryptocurrency market but having idea when we want to trade. Trading is not something we just assume to learn in one day or over a particular period of time. Trading is a life time career and when you start and you started making the money you won't want to stop again because you have found a true system you can analyse to generate money for yourself.
Of you don't have an idea or you don't know how to trade, it is better tomlewen how to trade so you will have better understanding on how trading works than for you to enter the market blindly and lose all your money without prior knowledge.

I did this back in the day. I wasn't really good at trading and ended up trading with the little knowledge about it that I had, and eventually that caused a little bit of a trouble for me. I know that it is not going to be as simple as "I just traded with no knowledge" because I did had some but not enough. Eventually we are talking about something that could be a little bit different in the long run. So all in all I am doing a bit better these days because I learned more about it, but I still can't really make any type of differences at all to my past, I can only control my future, and it looks a lot better than my past.

Trading knowledge is like a lifeboat or a lifeline for sailing in the oceans and seas with high waves, so how can one survive drowning without knowledge? It is extremely necessary, as a lack of knowledge may eventually lead to losing his capital and leaving the market with a low head. Therefore, if every beginner trader wants to take a chance and make a successful trades, he must gain knowledge, educate himself, and learn in order to reduce his loss rate. I recommend learning by doing through one of the platforms that offer demo accounts, and with time he can be ready to start the trading journey to achieve profits, but at the beginning, he must develop his knowledge, as there are many sources on the Internet, so why not spend time learning instead of trading with ignorance.

Knowledge is essential for everything! OP presented some tips about where and how to start, but the bottom line is that we acquire knowledge from our experience... from reading, researching, practicing, etc. It takes time and effort to improve skills and sharpness.


Trading and gambling without knowledge are the same things... there are some "lucky hits" in trading and gambling, but chances to make a profit with random trading/gambling and without any knowledge are very very low. But people like to dream about easy money without any hard work...

Of course, why not? But never think OP that you will able to get what you wanted to happen as I was sure that only LOSSES are what you get in the end.

Knowing at least the basic ideas about trading is enough, we can improve our knowledge and skill eventually through experience. Nobody had started being an expert because all of us had started from being a newbie with less experience and knowledge. But because we are able to learn more that is why we are talking risk and still continue despite the losses we have.

In crypto trading, knowledge is essential.  we cannot just trust anyone with our money, right?  Even if we seek advice and help from any trading gurus, we still need knowledge on how to exercise the knowledge.  There is no such thing a no knowledge trading that became successful. 

Even with using bot, we still need the knowledge on the asset we are trading else we will never set our bot precisely and end up losing everything since without knowledge we will never know how the market will trend.

Bottom line, trading without knowledge is like gambling, taking chance to be lucky to get profit.

It’s useless to trade without knowledge and just expect losses afterwards. You should have not trade at all if that is the case. But we can’t really deny the fact that a lot of traders are trading without basic knowledge and skills, because of their greed for money since they always assume that trading will result into profiting that’s why even those who don’t understand much about trading are still trying their luck to trade and expect good returns which I think are only rare to happen.

Losing is part of gaining knowledge and learning from it so it can also be an effective source of learning. But I believe if we can trade with trading knowledge and skills, the outcome will be a lot different since we are already aware on how to combat our future losses so we can trade most likely for profits not for losses. But in either way, we know trading losses could also be inevitable, so let’s just prepare for it and prepare some working trading strategies that will give us positive results.

I understand that people see others making huge sums of profits and they want to do the same thing but trading requires vast amount of knowledge to do so and it is not an easy thing to handle neither, it is really a trouble for many people to keep doing this.

I understand that it is not going to be an easy thing to do because we are talking about months or even maybe years of work required for it and I understand it is not going to be simple, but realizing what could be done is definitely a big situation that requires a lot of trouble. Just focus on what you should be able to do with the things you have, and not trade with what you don't have.

I have to agree with this and actually not only in trading but in all activities involving money, it must be done with proper and adequate knowledge, even a newbie always thinks if he has succeeded in using a demo account then he is ready for real trading even though he is not yet of course because everything will be different when we use real money, and if trading is as easy as buying low and selling high then no one will give up in this business

But the point is how to get experience? The only way we get experience is when we actually start doing trading and commit mistakes. There are no books or predefined principles which can give you experience. Just take care of capital with which you are going to start trading, and don't take too much capital in the start. Don't get discouraged because of  loses in the start, they are sign that you are getting necessary experience.

They say knowledge is power, so eventually we won’t be successful in all our undertakings if we don’t have gained knowledge and understanding. Most especially for crypto trading as it involves a lot of risks and we can’t minimize those risks if we only trade based on greed and emotions, not on knowing how to analyze the market and create trading market indicators.

Prior knowledge can be improve, as a beginner its pretty normal to lose money but of course you have to keep on learning to avoid further losses.

The risk are high in trading, and its a long process before you become a good trader so while still on the process don't go all in and trade within your limit only.

Crypto trading without knowledge is like a gambling, you'll depend on your luck and the chance of losing are high. Be a responsible trader and know everything.

Trading has its own inevitable risks so if you trade without prior knowledge and skills, then the more that you will lose eventually in the process. Same with investing, once you invest without understanding it in the first place, then it will surely never work out and will only end in failure and losses. Maybe for some beginners in trading, they could get some beginner’s luck but they will never be consistently profitable and expect decent amount of returns when trading. So crypto trading without knowledge and skills is useless.

This isn't limited to just cryptocurrency trading but, you can say it takes a great toll when it comes cryptocurrency trading. You've got to have an idea of a trade or profession before trying to venture there. In the events that you don't, you seek professional advise from individuals that are into the profession or materials that exists on it.

Cryptocurrency trading is a highly professionalise field and have got a risk of its own following the high level of unpredictability and that would mean a huge difference between your getting profit or tading at a lose.

When you do make yourself get dragged with the hype or some recommendations or simply seeing someones big gains then it would really be a reason for you to be pushed up to trade and this is where you would

really be hurrying up yourself on doing it alone without any proper preparations which is really that prone to huge losses.It is really something risky and its never been ideal on doing so.You cant really be able to
learn up trading in a short span of time.

If you do things on your own method and ways then so be it but sooner or later you would be able to realize on how hard it would be when you are just starting up.Just make it sure that you
really minding about your risk management.

To be honest, I started trading without any knowledge about trading because my colleagues have told me that I could earn from it without educating me about its risks so as expected, I had plenty of losses. That served me a lesson and courage to do a long time process of learning about trading.
Trading without knowledge is like giving out your funds without any expectations of any profit. Trading isn't as easy as others think. It needs deeper knowledge and understanding about dealing with the volatility of the market and it also requires proper management of our emotions so we must have the willingness to learn about everything.

I agree completely with the opinion

 Trading is often a sophisticated and high-stakes endeavor that calls for a high level of expertise. Many inexperienced traders enter the market with the false assumption that they may quickly and easily amass a fortune. Unfortunately, they quickly learn this is not the case, and their life savings are lost as a result.

For this reason, it's crucial that rookie traders invest significant effort into learning as much as they can about the market and trading techniques. This will provide them with the knowledge and foresight to make smart choices in any market environment, giving them a distinct competitive advantage. Like when I initially started trading and spent endless hours studying books, videos, and seminars to educate myself as much as possible. Thanks to this, I was able to design a trading strategy that was tailored to my needs and provided me the best possible chance of success.

Everyone starts trading at some point. There are two possibilities in this situation one, either that person goes well above average in the trading world and make his fortune while other possibility is they get scared about the trading due to Share downfall and never look back in trading.

It’s been long time now I have read and also shared my own opinion about the trading and how they are achieving new heights in the same. In above example the second one who lost it all, never think their trade thoroughly and just invest in the want of profits. Literally they would never learn basic terms in the trading world. All they know is press buy button and sell button at particular time. That is called as rough trading and most of the time it never works and people lose money.

On the other hand the first example that I mentioned is for person who lose money initially but they learn why they failed that particular trades. I have seen my friends going to the trading tuitions and seminar’s. They have the perfect knowledge about their failures and that’s why they start winning the trades in later lifetime.

Basically whatever everyone is discussing up here is same, you gotta get knowledge and then only wake the big trading.

Yes, I completely agree with you. I have seen many people, who doesn’t have any prior knowledge in trading and have hunger to make profits in trading. This is similar like, without studying about the subject, you wan to top it, which is completely impossible. So at first as a newbie, I would suggest you to acquire more and more knowledge. I understand that no one likes to learn or memorise anything, but believe me, in trading, learning is the core factor. If you are beginner, then I would suggest you to reading some articles, understand the market terms and observe the market. Then atleast invest real money and enjoy profits.

The biggest problem with newbie is that they come to trading without knowledge. Most of newbie just following buggest Youtubers and Telegram channels signal. they also buy premium membership for this. This is the reason why newbies lose a lot of money in startups due to lack of proper knowledge. Newbies come into trading to make more money in less time and they take risky trade which often results in lose of money

The more you trade, the more experience you will gain. It is the best option to start trading with less money and try to remove any mistakes from here. If we just follow other people's signals or just by watching trading videos on YouTube we can't expert in trading unless we take own trade.

IMHO, it doesn't really require the condition of the market to be good only. But any condition of the market, bots can be useful based on how you use it.

I'm into manual trading but I don't want to say something that might discourage the users of it. Well, they're users of it and that means that it's more helpful to them, so choose your battle and what makes trading easier for you.

For the newbies, that's what they really are expecting that whenever they buy a bot, they will be guaranteed with profits.

But for those newbie risk takers, it's on them and much better for them to look at the brighter side of using it if they think that it'll improve their trading skill.

Don't trade if you don't have knowledge about trading since market is so risky and its not all about buy low sell high. To many technicalities need to consider that's why many newbies lose because they think trading is just an easy scheme for them.

Newbie need to realize that trading is not for all so they need to spend time researching all necessary details they need so that they can get an advantage to win whatever the market condition we are facing these days.

Many fake signals are scattered and only target those who have no more knowledge about trading, then take advantage of them to follow the signal and get a lot of profit. It is very risky, but the scammers who do this will only smile when the rabbit falls into the trap.

Legitimate signals also do not provide a guarantee of profit. It still requires basic knowledge of how to trade properly and correctly. Not only reading the numbers but also analyzing whether the signal is good or not. Some professionals who provide signals, not only provide a buy and sell number, but they also include their technical analysis charts so that they also know what the scenario will be.

Signal makers also trade, but they trade by utilizing people who believe in the signals they create.
Buy a list of coins to signal, then give the signal to beginners and they will start executing it.
The newbie's buy order will become the signal maker's sell order.

Even trading using signals requires some knowledge. How is it possible that we can trade without even a drop of knowledge using signals? Even when we enter using a signal we need to know how to apply it, be it when starting an entry, applying a stop loss or how to take profit (take profit). Everything is based on knowledge of course that's the main thing in anything, whether it's trading or anything else.

Believe that they are trading signals not to make someone rich, but to make money yourself.  At the same time, the authors of the signals in most cases do not trade themselves, but simply make an analysis based on the available information.  I have little faith in the effectiveness of signals.

Quite right, you can.  The bot has ready-made solutions.

I think that's risky because what if someone can just fool you and promise you that their signals are the best among the rest? You will only lose money on subscriptions and then lose another for choosing a wrong coin to trade or when you follow their fake signals. They are the ones who will earn this way.

This is why it's important to have some knowledge first so that we can avoid these scammers and then we can be fully independent when it comes to trading. If we get lucky, we may earn following other legit signals and professional traders but there are times that we feel something is lacking with us. That is because we can't stand on our own.

Do you want to say that even a person who does not have minimal knowledge and experience can just throw money into a ready-made bot and not configure anything himself?

In any case, knowledge is required to use the bot.  of course, if we take the ETS platform as an example, where anyone can log in and start trading using algorithmic trading systems, but in order to achieve real results, you need to start learning to trade, namely to be able to carry out fundamental and technical analysis.

They just make the money work for them. That is the pros if you have enough money to spend, but yes, they are just lazy that they want to earn profit without doing anything, but again, not all, as others are just skillful that they do copy trading as they see potential in the trader as well as save time, but most of the newbies I know will do this just to skip learning trading, which is still risky because you are just basing your decision on the profile of the trader you want to copy and also because you are not in control of your money, so if you are losing, you just can't help it but only watch losing.

It seems to be no different from copy trading, this kind of style is the work of lazy people who want to make money doing nothing.

    It's better to make money in trading knowing that you've worked hard and you'll learn from the mistakes you can face here than to use a trading bot like that, and it's been proven that it's not profitable in my few years in the industry this. Because I didn't see anyone here who said that because of the trading bot, they made a lot of money in crypto or bitcoin.

the only way you could trade and make profit all the while doesn't have even a drop of knowledge would be when you are relying heavily in signal trading.
you don't need to make a research and someone would do it for you, that's trading signal but of course that always come with implication, the signal providers might have malicious intention towards you and some ulterior motives.
the trading signal might give you profits initially but they could be just using you for their own interest, there's reason many trading signal usually don't hold on for long.
I'd say if you want to trade then you better off seeking the knowledge first because you might be risking your precious investments and surely having no knowledge would be huge disadvantage.

One of most misconception about bot is that newbies do really believe that it is really a way on making money without doing such hassle or further steps which they arent able to realize that they arent money making generating bots which they are really been thinking and this is why on the time that they are in loss then they would be tending to blame out things that it doesnt work.SOoner or later they would really be able to realize thats not how things do works.You would really be needing that knowledge for you to sustain this unpredictable market because if you dont then you would really be having that hard time on coping on things up.
You cant just run off a bot and expect that you would be making money, thats not how reality works.

Automating our trading time is fine if the market conditions have moved better and are still improving, but we know that market conditions often change, which means we have to be able to see how the market changes, and if necessary, we can rearrange orders we have done before. If you can live with the consequences of running a bot, you can keep using it. Otherwise, manual trading will be better for you because you decide when you trade. And it also won't require you to check the bot frequently to see how it's set up.

Experience will always be the best teacher after all as it’s considered the application based on your gained knowledge, and definitely will improve your knowledge as well. However, trading with no prior knowledge even from merely reading or watching trading videos will never be advisable because surely it’s never gonna work and all you will gain are just mistakes and losses. Even if you have the passion to trade but with no ideas on how to do it because you have not gained any knowledge from the start, then it’s best to never start trading.

Having a bot don't guarantee anything but it automates your trading which will save you time.

It's true that there's still a need to setup the bot and you can't just buy a bot and expect that it will bring you profits on an instant.

Making such with bots is a combination of your knowledge in trading and also what you know about the market. There are newbies that think you'll get profits easily by just having that but no.

That's right, let the newbies experience it all, and then they will realize everything, what they need to do and what not to do to survive in this market. For newbies, I hardly want to give any advice as I believe they won't listen to us until they experience it for themselves. There's no better advice than letting them experience it all for themselves and learn from it.

Although OP's suggestions are really useless, but for newbies, I think it's still a good idea to try a little bit of each thing to learn, and they will find that there is no way to make money other than having full knowledge.

I never recommend someone to start trading without having any skills and just relying on instinct. Maybe it could work by accident but it won't happen as often after you close your trade. It's better to try to learn to analyze than to trade without knowledge or skills because we won't be able to make a profit.

And even if you use a bot, you still have to make settings on it so it can run the way you want. But if the market immediately reverses, you still have to set up the bot again. And that means you must still have the knowledge and ability to use bots properly.

I am pretty sure the majority of retail traders whether it’s in crypto or stock market have basically no idea what they are doing.

There is less of them now but back in late 2021 you had people quit their jobs to trade crypto full time and we know how that went. Everybody knows how to make money in a bull market. Just keep buying and don’t sell too early. It becomes difficult when the bubble bursts and you give all your profits away.

in fact, until now there are still novice traders or maybe traders who have been around for a long time but only use and depend on trading signals or trading bots.
they will never improve, more beginners do it out of curiosity. once a signal is no longer profitable or inappropriate. they will go and start learning to trade independently.
time-consuming, I used to also join signal groups and also try bots. however, the sensation is different when you profit from the trades you make yourself. it takes time, but we will have more value in knowledge and experience.

Still, it is better to have basic knowledge of what you've stated above rather than jumping into it, but there are really newbies who want to earn fast and easily, like overnight. A trading bot is also not that reliable, and if you purchase one, it is better if you build it from scratch, as you know where it goes and what the problem is, rather than buying it and then not knowing what happens. No matter what move we choose, learning is the very first step to being successful.

Once you have no knowledge, then you will never succeed in any field, and there is no solution for you to succeed without knowledge. Knowledge is the only way to success. If you are lazy, don't expect to rely on someone or use cheap bots to help you do it, and if successful then it is not your success but the success of others, you are parasitic. It is confusing that to this day, many people still dream that they will succeed without doing anything or having no knowledge.

No successful trader will ask a money from a random newbies if they are really earning money with it they focus on their own trade and money making then be away on any distractions. Scammers will be the only one ask about that so to avoid losing money for scenario that can be avoidable erase the thoughts about looking for a people to invest on their trades. We need to learn although somehow its expensive for us to learn a skill on trading but atleast we can take note on the errors we encounter and improve it to became more better trader.

Correct, if you are in the process of learning how to trade losses are inevitable but at least you will learn some lessons out of it, but if you trust your money to someone else it is still very likely you will lose but you would have not learn anything from it, so your loss is in fact doubled because once you try to trade on your own you will still need to lose a few more times in order to learn lessons you should have already learned if you had tried to trade and learn on your own.

I didn't follow what @OP suggested in my trading but I taught myself about trading. Indeed I have asked my friends about trading while I learn from their experience but do not depend on them to analyze the market.

And I also don't use bots in trading because I feel I can't learn much from these bots. I better spend time learning to analyze so that I can improve my analytical skills. But I agree that investing in crypto has a high risk because the market can change anytime, so we must be prepared for the risks.

The fact is if you are not trying to learn about crypto trading then don't be in a rush to get started. Always do the learning process, even though now many trading options are offered and you choose not to learn is tantamount to giving some of the profits to other parties. From the beginning Crypto trading was very volatile and the alternative was to learn trading methods.

Instead of suggesting trading bots means no points to gain, you are addicted to relying on trading bots and obviously that is not good for continuous trading.

I have a personal rule in trading, which is that if you cannot understand what you are doing in trading, then asking a person or requesting someone to trade in your place will increase the complexity of the loss because you will not only lose money, but you will regret that you did not do it yourself, or you will begin to blame the second party.

Also, the use of trading bots will increase the risk if you do not know how to program them, and they are a level for professionals, not for beginners.

Trading is not for people with little experience, so there are many other ways to make money.

There’s no need to seek advices if you already know what to do, because in trading you can easily learn everything on your own as long as you are willing to do it. There’s a big risk if you make a decision that only came from your emotion, trading requires your own analysis and don’t do this with your emotion. Knowledge is your greatest weapon here, so don’t try to skip the learning phase because there is no easy money here, you need to have sacrifices as well before you succeed in trading.

start trading small. there's no hurry to learn from this market. i also don't advise to trade if you have no knowledge of trading. trading bots need to be set-up. how can you program your bot if you don't know how trading works? much better if you will learn the step by step process. you can always use small funds and actually experience the trading.

Wrong, if you do not know how to trade then do not trade, look at the profitable investors and traders around the world, do you see them relegating the responsibility of managing their money to someone else? No, they trade on their own, there is nothing wrong about not knowing how to trade by yourself, the mistake those persons make is to think they still can make money in the market despite their ignorance and lack of ability.

"Massive profit over the years" ?, Hhm sorry but I think that's a bit exage. All of us are not an expert right before we invest in Bitcoin but we also experience big losses first before we realize our mistakes and correct it. Also not all those who invest in Bitcoin are fortunate to earn a profit but the only thing that they got is losses.

It's only true that investing/hodling is the go-to thing of people who don't know or don't want to engage in trading. There is no way to say that BTC has a zero risk. BTC actually is the most riskiest asset in crypto because it's known to be highly volatile. We don't know the future of BTC so I won't say that there are guarantees here.

Trading Bots are only used as an alternative for some investors. Because trading bots will be useful for monitoring the market and trading automatically according to predetermined settings. So you can set where to stop or place a stop loss when the price drops and place a buy order or take profit.

Trading bots will also reduce the emotions that may be involved in the trading process. Emotions will interfere with trading when done manually. But remember that trading bots also come with risks. No matter how well the bot is made, of course, there will be some errors or bugs that occur. Therefore, don't trust all trades with bots. Manual trading using technical and fundamental analysis will be better.

Trading or Hodling is an option. Depending on which choice you will make, each option has its own risks and benefits. Holding will not always be profitable, it also depends on how your psychology is when holding for the long term. The panic will set in when the price continues to fall and there is no increase in the asset you are holding.

Bitcoin may be the best asset for the long term, but will you survive when the price is out of the question? So trading or holding will have their respective advantages. Nothing can be guaranteed, crypto has a high risk and must be prepared for any conditions.

There is another approach that you have forgot to include! It got a proven record of getting massive profits over the years. It is nothing but hodling. Yes, for the people who are unable to trade due to lack of knowledge and experiences, hodling must be a better solution to increase their networth. Unlike the methods that you have mentioned, holding bitcoin got zero risks but remember that I am talking about bitcoin hodling alone.

With bitcoin hodling, I talk about guaranteed returns when your holding periods extends up to four years. This must be a new kind of advantage that you cannot enjoy anywhere else. I always wonder why people do struggle with trading when they got an easy approach for guaranteed profits through hodling.

If you don't have any knowledge about cryptocurrency then don't start trading at all, we are living in the internet era so we can get any information at simple search so no need for professional advice just for a beginner and also we have demo account which can help to familiar with the trading platform also can try the strategy you learned from the internet.

If not at all then don't just trade simply HODL.

Well, you gotta start trading to gain knowledge as well. After a few readings, you gotta take action and be on the game already, you can't just keep reading. A little bit of knowledge like once you have set up your tradingview with a minimum of 3 indicators, would be enough as a basis for your trading decision.

You gain knowledge as you lose and win along your journey to trading crypto.

I agree with you on what to consider if you have no knowledge in trading crypto currency except of using a trading bot. We know that bot is very good because you can do what you want in life and let the bot do the work. Bot has no emotion and always take an entry when there's a set up. Unlike humans they applied psychology, meaning not all setup they see take an entry.

I do not know, but the advice that you mentioned is not considered useful for every trader.

No one can predict the price, and you rarely find a logical analysis without being paid or having personal experience. Therefore, unless you have knowledge that you can distinguish between what the experts are trying to say, you will lose your money.

Trading bots make trades when you are not there and unlike technical knowledge they are not a magic bullet but rather a tool that makes you present in the market while enjoying your life.


Investing in a crypto index fund? So you will again put your trust in unknown and unregulated parties.

When ever we talk about the risk involved in cryptocurrency trading, we sometimes make it look as if crypto is the only arm of investment that carries risk with it.
One thing that is sure is that everything that involves making money carries some level of risk with it, and crypto trading is no different.

No body trades Forex without first learning about the rudiments in trading Forex, like wise it is with crypto trading, like the saying goes, not preparing is preparing to fail, not taking time to learn simply means learning to throw away your money, so it is only foolish to jump into trading without any knowledge of how trading works, is it even possible?
Where is the person going to start from.?.

I’m not sure if crypto index funds is already available publicly but most of the exchange doesn’t have this kind of investment feature but it will be a nice idea for newbie trader to invest on index fund as starter to control volatility to its asset. I believe this suggestion was originally meant for stock market investment then OP just convert to crypto since he is suggesting to seek help from crypto professionals while these so called crypto pro are normally social media influencers and shillers.

Stock market pro trading is different from crypto pro trading since crypto has a lot of clown pro traders that giving shitty advice. I won’t recommend asking someone advice on trading but instead DYOR(Do Your Own Research).

I would say that "It was not the best decision". We can't just throw money too easily and that much more if that is hard-earned money because we can't just put trading like gambling where we rely on luck otherwise, forget about trading.

Having a basic knowledge of trading is the very least requirement and even using trading bots won't simply work. We have to consider and invest first in knowledge for this is the tool to success or else, losses are only what we get. I don't think that is what we wanted to happen, so we don't need to push ourselves if we are not already ready for this.

Sometimes it becomes easy for we to advise people on cryptocurrency trading while we are still learning and we also have to understand that for now crypto trading is one of the hardest because it is not regulated and no channel for daily news, weekly or monthly just like it is in Forex trading and with that you can decide when to stay away from the market when news is to hit the currency market and so this is the biggest challenge of trading crypto for now. This is why a trader should take lower risk and also use stop loss.



Do you mean companies trading for people? Well I have heard different complaint of crashes and collapse among them, I don't encourage that.

Trading cryptocurrencies without any knowledge of the market or the underlying technology can be risky and may lead to significant losses. Cryptocurrency markets can be volatile and can change rapidly, making it important to have a solid understanding of how they work before investing your money.

If you don't have the knowledge or experience to trade cryptocurrencies, there are several alternatives to consider:

Seek advice from a professional: You can consult with a financial advisor, stockbroker, or another professional who has experience with cryptocurrency trading. They can help you understand the risks and potential rewards involved and provide guidance on how to trade.

Use a crypto trading bot: A trading bot is a software program that automates the process of buying and selling cryptocurrencies based on predetermined rules and algorithms. Some trading bots require a certain level of technical knowledge to set up, while others are designed for novice traders.

Invest in a crypto index fund: An index fund is a type of investment that tracks the performance of a particular market index, such as the S&P 500. A crypto index fund invests in a basket of cryptocurrencies, providing exposure to the broader market without the need for individual stock picking.

Regardless of the approach you choose, it's important to understand that there is no guarantee of profit and that investing in cryptocurrencies involves a significant degree of risk. Before making any investment decisions, it's important to conduct thorough research and seek advice from a qualified professional.