Topic: For newbies and plebs who want to self-study to become "traders" - page 2. (Read 789 times)

That's true, we have to understand that not everyone that teaches know how to teach, also not everything we see online are true the same way the appear online, when we see anything offered to us, we shouldn't hesitate to conduct a research on them to know what others have on them, information should not be centralized or vested on one side, we need to seek for more ways to know how genuine and true they are from a verified source.

I think you got it right, after having to learn from an experience person who will be more like a mentor to them then can apply to source from others knowledgeable users maybe those information can be compared to see if actually they are going off the track, and besides it should be something that you are well prepared for I have seen few people who developed interest to study about trading after many class he wasn't able to focus and was thinking is a thing to just study and start making profits without knowing that as a newbie there are alot to learn and to know.

Yeah true, you should definitely not be upset about any money you spend on learning as long as you are learning. But making you a sucker is the fact that some people buy some stuff from some people and get the most cliche things ever. I believe that you shouldn't do that. If you want to make sure that you are buying something, then make sure that it's actually a good thing in the end. I know that it's not going to be that simple but as long as it exists and it goes well enough then we are going to do well with it.

I personally hope that people will end up with some sort of profit when the time comes and that means we are going to end up with a good chunk of money with the right time, that's how you could end up improving in the end.

by looking at various sources for learning, we will be able to compare one with another, and of course we can objectively assess the concepts we are studying, so that this minimizes misleading knowledge. actually it is more effective if we have friends to serve as mentors, and I'm sure we will understand it more quickly. and after having the basis for that we can develop knowledge according to our own character. Of course this requires a process and we have to enjoy it

OR, why not carry out the most effective strategy for newbies and just Buy the DIP and HODL? Why play the game of "survival of the fittest" when the game could also be played by simply doing a time-based strategy? We should refuse to become the product, the very people being forced to buy high/sell low, the people who are scammed for affiliate fees, ad revenue and TRADING BOOKS we don't actually need.

Tug of war on which it would really be survival of the fittest and if you cant find yourself that really that good or not able to make out some good decisions towards your trades then you would really be might be having that lots of losses and this is indeed the reality if you do find yourself get engaging with this market on which it is really that indeed composed of buyers and sellers on which it would really be just that normal that you would really be needing to be wise on every buy or sell decisions you would be making. As a noob, then starting up with the basics of course on which it would really be just that right that you should really know on how to identify between those errors and effective ways on making yourself that sustainable on this very unpredictable field. Never ever make yourself in a hurry on learning up things and just like on what others been mentioning out that if you rush up then you are prone to errors because you would really be that desperate on making up some steps because you are in a hurry on trying to see those profits which its never been right on having
that kind of approach. Study and learn up along the way even if you are using real balance or money and this is why its not ideal if you do make use of huge amounts specially when you are just still starting.

Not only for those who are self-learning but even to those who rely on others to learn trading, at they should still be careful and slowly assess their learning. Otherwise, they will believe in wrong information that was being fed to them, and apply those in their trades that will eventually mess their trades and end up very unprofitable. That’s why be cautious in every trade attempts, especially that it’s hard to predict what’s going to happen in a very changeable market.

Relying on a single source is obviously not the best way to go about it. There is nothing wrong if someone wants to learn things by themselves and doesn't want to enroll in an institution or somewhere they need to pay money to learn, but, they will need to check every single piece of information from multiple sources only to verify if the information provided is correct and isn't false or bragged unnecessarily, this will make their knowledge solid and perfect.

So, someone who learns from YouTube or from a website about trading and studies different practices, analyses, indicators, and other stuff, they should make sure they are checking other channels or websites to see if what they've learned so far is true and correct and not falsified.

There's truly nothing wrong with writing a book, a guide, or any investment material as long as the writer is honest with his/her audience. There's also nothing wrong with shilling referral links as long as the person doesn't "market" himself like he did in this screenshot. Haha.



Twitter is starting to include "for context" information in tweets.

It's true that many of the so called investment gurus that publish a lot of trading books make most of their money being an author and public speaking, rather than being a successful trader. In my opinion this doesn't have to be a bad thing and just because we buy one book for 20 USD doesn't make us the sucker. It's always helpful to learn more about the author before buying his book, some successful authors worked as traders in their 20s&30s and only turned to writing books later in life. When it comes to financial literature there are three types of books. The first one is about financial history, they teach us how the past worked and what successful traders bought and sold to become rich. This is informative and can help if we see parallels today to the past, but we can't just copy the trades. The second category is technological and knowledge books that teach us how to do research and analysis of current trends. These are the best type of books as in my opinion as we can learn a lot from them and apply the techniques to various. The third type of financial books are investment recommendations that tell us exactly which assets to buy and sell. Here I would be very cautious and trust blindly on other people what to buy, it's better to make our own research and decisions.

It would really be just that right that you should really know and be wary about some information here on the internet wont really be that accurate or trustworthy on which it is really just that right that you should

always make out some verification or indepth review or analysis whether those are real or not. In becoming a trader then learning up with the basics is a must which it isnt only limited on technicals but also in fundamentals as well but we cant really that able to avoid out that this isnt only limited on those things but also there are learnings which could only really be acquired through real experience and this is why
never ever make yourself that get stuck on a single place and always wander around on things that you must learnt up because this market does have lots of variations on which it would really be normal that it
is really needing up that versatility and of course in speaking about learning then it would be a never ending one.

Just dont make yourself in a hurry because this is where usually mistakes and errors do came from on the time that you would be making yourself that too confident on what you are currently dealing with.

Not everything that we see, read and watch are real and provide trusted and reliable source of information so we better be observant and keen not to be deceived by those who only want to make money and not to help beginners. As much as possible, we should do a research right after one research so we won't fall for deceptive traps.
Not because we're newbies, we will believe in hearsays and fake information. We should be skeptical in absorbing kowledge and legit information and we shouldn't be innocent victims of those who are just pretending to be pros.

It is definitely a battlefield, there will be buyers and sellers and they will fight each other to be the right one. Sellers will sell because they think it will go down, and if they sell and the price goes down afterwards that means they won that battle, the buyers are buying because they think they are going to make a profit and if they are right and the price goes up then they made that profit.

So long story short we are talking about a situation where it will be quite possible for people to make a profit like that. I understand it is going to take a while but it will be quite possible for us to just make it work. I believe it is not going to be that much of a problem if you lose a battle, because it is important to win the war instead.

Well, the fact is it's quite hard to believe some of them, in an educational content they always show something like what we need and even with some of the strategies they exemplify. When we saw it, it looked like it made sense, and then we went to do it according to what we got from them, for the result, maybe you already know that 50 - 50, some are really accurate according to the market and some are loss until you get MC . To be honest, this is also what I often asked when I was a beginner, how to find a mentor who is truly experienced so that our learning process can be directed and in the end I decided to study alone without a mentor and would only read books on trading in several library.


Maybe there are also some of them who have difficulty finding the right mentor or reference. So, you are absolutely right, recently I heard that one of the content creators who always educates about trading has been arrested by the authorities for defrauding many of its members, cases like this have now happened a lot and many have become victims. Most of them just want to take advantage of us, as you said, most of them are affiliates who take advantage of the situation and get a lot of profit there. So the point is to be more careful when looking for a mentor who is truly experienced, find out the person's personality first, don't let them have the opportunity to deceive you.

Yes, that's right, we certainly wouldn't know DCA, Hodl and so on about trading strategies if we didn't study them from speculation, articles, books and other studies which concluded that Hodl and DCA are the most effective ways to trade strategies that have little risks in the process even though it takes a long time to get the benefits.
Caution is necessary because there are indeed some manipulations in the writing, so the best way to solve this is not to stick to one source of knowledge, of course there are also many honest and truly victorious people in trading, then they write it down to be used as next generation guide.

Great advice, I agree with you completely. But the question is how to distinguish a person who is an impostor or is not competent from a person who is really an expert. You need to read a lot of books to find one that works, you need to study a lot of material on the Internet so that in the end you form the right opinion. Without your own mistakes, you will not be able to go this way.
A mixture of my experience and someone else's is a good decision.

In some point yes it is, but in other way is people want to read these because they want to know what are the other strategies and their experiences with the trading practices its not all about buying the book its all about too base on the studies they made, and most of the important is the experience. Like you are paying a service. Are you willing to pay a person who does not know the things you want to know? of course not in some point that's the perspective of the use with the book.

This is 100% true and for sure a lot of writers or people who are writing some content about trading are really losing money on trading and they are just making money on these books or some are making money on affiliates like inviting someone to signup under their links on some exchanges and they will earn money via commissions.

thanks to you for this topic, newbie traders have big expectations for trading, they come to make a lot of money but the majority of them just lose money and then leave, while those who persist definitely have a chance to become an experienced and even professional trader.

like a battlefield, trading activity is that, every trader must have good skills -> understand analysis techniques, fundamentals, economics, understand how to use trading tools, control emotions, not be lazy to keep learning is the basic foundation that must be owned by every both beginners and experienced traders ^{(this is an important thing that many professional traders have explained)}

You are very right about this, most of those people writing those books and producing those videos are not really a professional traders, they are just doing it for the sake of money that's why we all having to be careful, that's why in most videos on YouTube, they always talk about the profit they made alone, and they will hardly talk about the losses in their trade just to attract people to their page, because if they are making all those videos to truly educate people, they will be talking about both profit and lose, no matter how professional you are as a trader, you will definitely lose money, you cant be making money always.

All what i will tell newbies that are trying to learn how to trade, can read some of those books or watch some of those videos just to learn the basics of trading, but they shouldn't follow their strategy, they have to learn their strategy on their own, i know even if they are selling those books for the sake of money, they will be able to teach the basics of trading. So as a newbie trying to learn how to trade newly, you have to start with a little amount because you will be losing money during your learning process.