For newbies and plebs who want to self-study to become "traders" - page 5.

Gallar

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Quote from: Wind_FURY on July 24, 2023, 03:27:16 AM

My advice - BE CAREFUL

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

people who are looking to profit through such things, there must be. But I don't think it's wrong. Because like many YouTubers who create video content by explaining the procedures for trading in crypto, teaching analytical techniques and other techniques, such as sentimental and fundamental. As far as I have learned so far, I feel that the majority of these YouTubers always provide knowledge about crypto that is real and indeed very useful when used for trading. Because I also learned a lot about crypto trading, namely through videos on YouTube. So I can argue like that, because I've tried it.

So as to your perception of crypto learning book maker or video maker, I don't know that. But what is clear and most important, the knowledge provided by the maker of the video or the maker of the book, is true knowledge about trading in crypto. I have no problem with the maker's background.

And I'm sure, people who have the courage to write books or make videos that contain content about investment or crypto trading. This means that this person can be said to be an experienced person and an expert in that field (crypto).

worle1bm

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Right they are selling books as a business to earn profits and also these are limited to theoretical knowledge but the practical application have different results according to the market situations so every reader needs to be careful when reading these study materials to avoid any misunderstanding later on.You trade and learn from actual experience when you jump into it.

Finestream

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Quote from: Wind_FURY on July 24, 2023, 03:27:16 AM

My advice - BE CAREFUL

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

Plus "as traders", most of you will lose money and leave. Some of you might return and lose more money. Some might have learned their lesson the hard way and just HODL Bitcoin. The few who actually put in the most time, effort and who are well-capitalized might make it.

True indeed. What we see and read in the internet are sometimes the irony in reality. That's the reason why reading and listening to influencers alone are not a guarantee that you are doing trading the right way. Instead, trade on your own so you can gain experience on how to adjust with the different market events and scenarios that will help you become a professional and reliable trader. In the end, trading does not matter how good or how skillful you are, but on how you cope up with the changeable market and be patient to wait for the right time to trade.

adaseb

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What he says is the truth. Many that write those books and have those seminars aren’t good traders at all. If they were they would trade instead of wasting their time with writing books and having seminars. However there is no law which states that you must be a successful trader to promote seminars and charge people $10K for a course where they can find the stuff for free pretty much.

And he is correct saying most will lose money. Trading is hard and it’s why many give up after a few months or years. If it was easy then most people would trade instead of working some boring job.

nelson4lov

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Quote from: Wind_FURY on July 24, 2023, 03:27:16 AM

My advice - BE CAREFUL

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

Plus "as traders", most of you will lose money and leave. Some of you might return and lose more money. Some might have learned their lesson the hard way and just HODL Bitcoin. The few who actually put in the most time, effort and who are well-capitalized might make it.

This has been the norm for a long time. I know a lot of self-acclaimed expert traders who primarily make their money from users subscribing to their signal service or enrolling programs. If majority of the trading learning resources (video, article, etc) are from traders who aren't profitable, it becomes a problem for newbies to learn since they would be unprofitable as well when they eventually put the trading skills to practice.

Biggest question iis findimg quality trading resources.

boyptc

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That's actually the truth.

Only a few from these influencers are real traders and doing their thing. They only show their wins and not their losses. But the majority of them are salesman and they're good at it honestly.

Because they're able to make attractive videos telling about how good their programs are and how many they're teaching currently. You'll be enticed with it but as said, it's always best to just HODL your Bitcoins.

Cryptomultiplier

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Quote from: Nrcewker on July 24, 2023, 12:02:48 PM

Quote from: Wind_FURY on July 24, 2023, 03:27:16 AM

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

The ones who don’t have skills, they become advisors, as giving advises are easy but fulfilling it requires knowledge and skills. For them this is the source of income and they master the art of convincing. If you are a newbie trader then always do research yourself on the coin and market where you investing. Set a budget for investment and don’t greed for more profits.

I must say those who make contents about trading only do well to educate rather than tell one what to do.
To become successful at trading, one requires a mentor who has tried trading and understands the basics at least.

To HoDL is always the best way to keep good funds aside to trade with once the right knowledge has been gained.
In the meantime, anyone looking to trade should first consider having the theories and seek ways to try the practical, hence why the online videos is necessary, so as to be able to distinguish legit information from scams, upon personal research.

carlfebz2

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Quote from: Mpamaegbu on July 25, 2023, 03:41:55 AM

Quote from: Wind_FURY on July 24, 2023, 03:27:16 AM

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

With the few years of experience I've garnered in trading, I'm of the opinion that those who jump up and down on social media brandishing one paid signal group, articles, books or the other aren't actually profitable. They're mere marketers. Those who trade for a living don't have time for such unnecessary involvement on daily basis.

Talking about those who think they can be self sufficient by solely learning on their own, my word to them is that they will easily and quickly burn out. In trading, no man is an island on his own. We need the knowledge of others to know where we truly stand. Cross fertilization of ideas is needed to help proper one further in life, trading especially.

Yes, this is on point on which usually those videos and offerings that could be seen online are to those people who doesnt trade at all.Just like on what you have said that true traders wont really be having the time

on marketing out neither of their ebooks and there methods and ways of their trading just to get some peanut amounts? There's no much sense on doing so and this is why it would really be better that you should
really be thinking up sensibly on how things should really be that taken. Dont easily believe with those claims because if those things actually works then we do really believe that it would really be that
shown or would be shared out on how its been done? I dont think so. This is why thinking up sensibly and realistically would be the key, you cant really just make yourself that easily believe
that they would really be that working and precise or would really be that accurate.

Self study would be enough and lots of resources on which you could really make use and learn for yourself.Persevere and be serious if you do really have that kind of aim.

Mpamaegbu

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Quote from: tbct_mt2 on July 25, 2023, 06:01:05 AM

Quote from: Mpamaegbu on July 25, 2023, 03:41:55 AM

~

Unfortunately, learning by reading is not enough, never enough. They must experience with real trading practice which will help them to test knowledge they learn, test themselves including their deeply inside personal characteristics.

Exactly the point I buttressed there. Reading and all that are mere theories. Trading is essentially practical, not theory. This is why most people who talk about trading with all the razzmatazz never get to excel making profit because they don't have a good handle on trading. It's like a medical doctor who's good at book work but never gets to perform surgeries. His mindset won't be like one who has been performing surgeries all years. This is why I criticize those who think trading is a shortcut to making it big. It's never. It requires practical hardwork and patience.

tbct_mt2

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Quote from: Mpamaegbu on July 25, 2023, 03:41:55 AM

With the few years of experience I've garnered in trading, I'm of the opinion that those who jump up and down on social media brandishing one paid signal group, articles, books or the other aren't actually profitable. They're mere marketers. Those who trade for a living don't have time for such unnecessary involvement on daily basis.

Talking about those who think they can be self sufficient by solely learning on their own, my word to them is that they will easily and quickly burn out. In trading, no man is an island on his own. We need the knowledge of others to know where we truly stand. Cross fertilization of ideas is needed to help proper one further in life, trading especially.

They can learn from books, trading courses, videos, signal groups and can learn from warnings such as this topic. Unfortunately, learning by reading is not enough, never enough. They must experience with real trading practice which will help them to test knowledge they learn, test themselves including their deeply inside personal characteristics.

Hopefully they won't be burned out before they learn enough and practice enough in this risky market. If they survive, they will have good future because where there are risks, there are great opportunities.

Quote from: beerlover on July 25, 2023, 01:15:32 AM

That is such a sad thing but it is very true that they make a lot of money that way. I mean they end up just using fake signals, just signals based on some indicators that mean nothing which people can do themselves as well, and then they hope that those indicators hit.

It is necessary part for their adventure in cryptocurrency market as traders or investors. They can not mature in this market without such challenge.

Quote

I have seen people who even delete their old stuff without shame, and if anyone catches them, they just delete those responses as well.

Not only about deleting failed trading signals. If you notice on Twitter, now X, there are influencing accounts which have habits of spreading fud but later will return to delete their tweets.

Mpamaegbu

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Once a man, twice a child!

Quote from: Wind_FURY on July 24, 2023, 03:27:16 AM

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

With the few years of experience I've garnered in trading, I'm of the opinion that those who jump up and down on social media brandishing one paid signal group, articles, books or the other aren't actually profitable. They're mere marketers. Those who trade for a living don't have time for such unnecessary involvement on daily basis.

Talking about those who think they can be self sufficient by solely learning on their own, my word to them is that they will easily and quickly burn out. In trading, no man is an island on his own. We need the knowledge of others to know where we truly stand. Cross fertilization of ideas is needed to help proper one further in life, trading especially.

Wind_FURY

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Quote from: Frankolala on July 24, 2023, 03:29:23 PM

Quote from: Wind_FURY on July 24, 2023, 06:28:49 AM

Quote from: Wiwo on July 24, 2023, 05:41:39 AM

Trading is like gambling

It IS actual gambling, especially for us plebs. I don't care what "skill arguments and justifications" many people post because if there's any possibility that we'll lose money in something, then it's a gamble.

Having said that, even starting a business is a gamble, and a leveraged gamble at that if you, as the entrepreneur, are using borrowed/loaned money.

New business is gambling because one hasn't have the experience of the market challenge and you will not be fully prepared for the risk. Trading is gambling and only few traders make success in trading just the way gamble is. In trading one with always loss more than he gains. When you trade is like you are chasing shadows instead of hodli to make big profit.

Newbies think trading is profitable and they rush into it without know the risk involved in it for professional traders,talk more of the newbies.What I have understand in bitcoin investment,it is better that you cherish your coins and keep hodli than you get greedy and gamble them off,think that you want to make profit with your coins.

No, the point is more like, to start a business you need to borrow money, and to borrow money you need to have something as collateral as an assurance for the borrower, with you knowing that you might lose the collateral if your business fails. That's the gamble, and the probability of success for any new business is only 25% to live for 15 years. 75% of new businesses fail within 15 years.

sysoe

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They’re just trying to sell us their snake oil and make us believe we can get rich quick. Trading is definitely not for everyone. 99% who try will lose, so don't donate your hard-earned money to the 1% who know what they're doing. HODL!

beerlover

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Quote from: pooya87 on July 24, 2023, 08:00:13 AM

Quote from: Wind_FURY on July 24, 2023, 03:27:16 AM

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

This is so true.

Another way of scamming people is to create a lot of "signals" regularly and these scammers use social media (eg. twitter or telegram). Basically they buy a shitcoin then start advertising it as a "good shitcoin to buy" so that after others bought it and price went up, they could dump it and make profit while others bag-hold and lose money.
They are easy to recognize too because if anybody had a "good signal" they wouldn't be giving it away for free or even for money. They'd invest themselves and make a lot of money.

That is such a sad thing but it is very true that they make a lot of money that way. I mean they end up just using fake signals, just signals based on some indicators that mean nothing which people can do themselves as well, and then they hope that those indicators hit. I have seen people who even delete their old stuff without shame, and if anyone catches them, they just delete those responses as well.

I really find this disturbing because these people are scammers and we have absolutely no way of stopping them because there will be a lot of people who will fall victim to these people. We should have some "influencer hell" type of list where we list all kinds of terrible people who share these stuff and tell people to avoid them.

jeraldskie11

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Quote from: Wind_FURY on July 24, 2023, 03:27:16 AM

My advice - BE CAREFUL

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

This is something I agree with. Even individuals who are not the book's author endorse and selling it to newcomers. There are mentors out there who may be selling books or PDFs of the strategy he learnt from YouTube or others. After that, they simply leave the newcomers in the air and let them figure out trade on their own. If that's the type of mentorship you're looking for, I'd advise you to avoid it. You must learn to choose intelligently if it is truly worth it in order to avoid wasting your time and money.

Strongkored

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That's also what people who have paid signal channels do, they do this because they understand how difficult it is to keep our trading results at a surplus, so the way to do this is by selling signals, which, even though it's very rare, successful traders will bother wasting their time doing analysis and selling the results of their analysis, and they will try to attract people by showing their trading success, while we can never know how much he has actually lost.
Hold is better but only for bitcoin while the altcoins are really bad because many of these coins will end up in ashes, like the coins in my wallet just become trash because they have no value even though they can be sold but they don't cover network fees.

wxa7115

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Quote from: Wind_FURY on July 24, 2023, 03:27:16 AM

My advice - BE CAREFUL

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

Plus "as traders", most of you will lose money and leave. Some of you might return and lose more money. Some might have learned their lesson the hard way and just HODL Bitcoin. The few who actually put in the most time, effort and who are well-capitalized might make it.

This is very common when it comes to trading books, it seems that no one really takes the time to make a quick search about the person behind the book and see if they are actually famous traders which have earned a lot of money from the markets.

However there are a few books actually written by expert traders, with the best of them being the ones written by the creators of a famous indicator, after all who can teach you how to properly use the Bollinger Bands better than a book written by John Bollinger himself?

Frankolala

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Quote from: Wind_FURY on July 24, 2023, 06:28:49 AM

Quote from: Wiwo on July 24, 2023, 05:41:39 AM

Trading is like gambling

It IS actual gambling, especially for us plebs. I don't care what "skill arguments and justifications" many people post because if there's any possibility that we'll lose money in something, then it's a gamble.

Having said that, even starting a business is a gamble, and a leveraged gamble at that if you, as the entrepreneur, are using borrowed/loaned money.

New business is gambling because one hasn't have the experience of the market challenge and you will not be fully prepared for the risk. Trading is gambling and only few traders make success in trading just the way gamble is. In trading one with always loss more than he gains. When you trade is like you are chasing shadows instead of hodli to make big profit.

Newbies think trading is profitable and they rush into it without know the risk involved in it for professional traders,talk more of the newbies.What I have understand in bitcoin investment,it is better that you cherish your coins and keep hodli than you get greedy and gamble them off,think that you want to make profit with your coins.

Hamphser

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Quote from: Wind_FURY on July 24, 2023, 03:27:16 AM

My advice - BE CAREFUL

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

Plus "as traders", most of you will lose money and leave. Some of you might return and lose more money. Some might have learned their lesson the hard way and just HODL Bitcoin. The few who actually put in the most time, effort and who are well-capitalized might make it.

You wont really be having that continuous lose if you are really just that sensible or mindful on what you are doing because if you do see that the things that you've been reading up arent really that effective nor working

then it would really be just that normal or having the common sense that you would really be needing to adjust on whatever things that supposed to be done because it would really be just that normal that you
would really be making adjustments and would really be having that trial and error thing and wont really be sticking on something that doesnt work. It is really just dumb that you would
really be making yourself fully rely with those ebooks and trying out to strictly follow even if you do see that it does give out that kind of bad results.

It is really just that right that you would really be making out adjustments if you do see that it is really that causing more losses.Its true that when it comes to self learn
then lots of things that we should really be doing and this is why trial and error would really be that relevant.

Nrcewker

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Quote from: Wind_FURY on July 24, 2023, 03:27:16 AM

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

The ones who don’t have skills, they become advisors, as giving advises are easy but fulfilling it requires knowledge and skills. For them this is the source of income and they master the art of convincing. If you are a newbie trader then always do research yourself on the coin and market where you investing. Set a budget for investment and don’t greed for more profits.

Topic: For newbies and plebs who want to self-study to become "traders" - page 5. (Read 773 times)