Getting more skills in trading - page 3.

Finestream

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Quote from: goaldigger on March 22, 2022, 08:45:12 AM

Quote from: Bushdark on March 20, 2022, 05:18:10 AM

HOW TO KNOW WHEN TO ACTUALLY BUY OR SELL
❇HOW TO GENERATE SIGNALS FOR YOURSELVES.
❇INDICATORS: Moving Averages, Stochastic, MACD, Bollinger bands, RSI, ADX, Parabolic SAR, ATR, Ichimoku etc
❇TIME FRAMES ANALYSIS
❇SUPPORT & RESISTANCE LEVEL
❇CANDLE STICK ANALYSIS
❇FIBONNACCI LEVELS
❇PIVOT POINTS
❇ELLIOT WAVES & FRACTALS
❇CHART PATTERNS

I like to update this post as I learn more... thanks

These are the common topics about trading, learning those topics can be a big help for your trading journey.
I started reading books years ago, and honestly I still keep reading them because I believe on continues learning and we should not be complacent because this market moves a lot and if you stop learning you might be left behind.

Trading looks too complicated so take a baby step at a time and don't rush yourself to learn everything in just a month. Learning trading will take years honestly, a very challenging experience but the reward is huge so don't be afraid to take sacrifices for now because trading can give you a lot.

Yes, trading is not just learned a week or a month, but it takes years for you to say that you have learned in trading. And with experience, your learning in trading will be more efficient and makes you more competent. However, gaining skills in trading would not be as easy as that. A trader should have more focus and concentration so he can develop his own skills in trading that will give him an edge over the market. And having a good analytical skills in trading will help him more to cope up with the fast changing patterns that will affect the market.

Vaculin

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Winding down.

Quote from: The Cryptovator on March 20, 2022, 01:41:41 PM

Seems you are more experienced than us lol. Because you have added a lot of technical points on the thread that I am not aware of. Anyway, trading isn't a thing that you can learn by reading or watching videos without doing it by yourself in real life. In the beginning, most traders lose money, and day by day they improve. So you need to stay here and learn. Of course, you need to study besides trading. So I will suggest starting trading with a small number of funds then start research. Keep in mind you need to research the project that token or coin you gonna buy. Otherwise, your analysis would be worthless.

You will never learn in trading if you never let yourself experience the different trading scenarios. Reading books and watching video tutorials are helpful but the best things are learned when you start to put them into practice. Particularly in gaining skills, you will only develop them if you keep on trading and losing because it will give you lessons and help you to motivate yourself to develop your own skills and strategies to minimize seeing yourself from committing losses. Trading should be learned the hard way so you should exert more time and effort to make you learn.

Luzin

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Quote from: Silberman on March 28, 2022, 11:53:40 AM

This is one of the problem of the people that are just entering the markets, they think they can learn everything they need to know in just a few days and this is simply not possible, it takes a lot of time to become proficient enough to create your own strategy, backtest it and execute it properly, by the time you can do something like this months have passed, and that is the best case scenario, so people need to be realistic when it comes to the rate at which they can learn.

That's how hard it is to learn trading. New traders often have high hopes for quick profits. They do not have and master the emotions and mental to be patient. So they sometimes choose to buy and join a group that gives them a sign to buy a coin. Actually this method can be an alternative, but it will not make new traders develop. They only rely on other people in the end he will only depend on not being able to be independent. The best traders are those who are willing to follow the process and be patient.

JooBra

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Quote from: Scaterbrainn on March 29, 2022, 03:05:33 AM

Without trading skills, it is like flying a plane in the dark. Also, the list of skills is long. Traders should first prioritise what they should learn and take one step at a time. Other than that, as suggested by others, don’t just read. Give time to practise your skills.

Problem is even learning isn't guarantied that will help you. You need to trade with real money to learn from the emotions side of things, since some people can't handle emotional side of trading.

Scaterbrainn

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Without trading skills, it is like flying a plane in the dark. Also, the list of skills is long. Traders should first prioritise what they should learn and take one step at a time. Other than that, as suggested by others, don’t just read. Give time to practise your skills.

Silberman

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Quote from: Ziskinberg on March 20, 2022, 07:14:58 AM

You can't learn them all in just a single day, however, you can learn them somehow if you don't get tired of reading books, watching online tutorials, and most of all, having an experience. Indeed we can't find a lot of tips on the internet, the only thing you do is to try following them.

This is one of the problem of the people that are just entering the markets, they think they can learn everything they need to know in just a few days and this is simply not possible, it takes a lot of time to become proficient enough to create your own strategy, backtest it and execute it properly, by the time you can do something like this months have passed, and that is the best case scenario, so people need to be realistic when it comes to the rate at which they can learn.

Desscount

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ComboLabs

Quote from: TimeTeller on March 27, 2022, 06:50:49 PM

Quote from: isaac_clarke22 on March 27, 2022, 03:32:32 PM

Quote from: LUCKMCFLY on March 26, 2022, 02:39:39 PM

~

Reading alone won't give you skills in any field. This is what contributes to trading unlike being self-taught to any other field like programming. In trading, you'll really need to risk your money and test the waters if the strategy or the knowledge you had learned went into full effect.
Some would suggest to a virtual trading or a simulated one, but in that case you wouldn't really have been affected by the losses you make unlike when you're actually the one trading.

Source: Experience.

Demo trading may be helpful in getting the grasp how the trading buttons work for specific platform.
But it may not be helpful when you are already actually trading with coins using your own funds.
Because every coin has their own trend in the market, and that is for you to learn.
The demo trading won't give you that kind of knowledge but the experience itself.
And it would take lots and lots of experience to learn possible tricks in trading.

That's true so please understand first that demo trading with real trading it will be much different,
by trying demo trading at least for beginners they have a shadow before proceeding in real trading,
we can learn from others not only on demo accounts

Mpamaegbu

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Once a man, twice a child!

Quote from: stepwilli on March 27, 2022, 03:21:10 PM

Quote from: Mpamaegbu on March 26, 2022, 01:23:02 PM

~

Both are needed tho because you can't just learn and learn but you have to apply what you have learn

Practice is beyond learning. It's the essential of the game. For me, one doesn't even begin to ascribe the "trader" appendage to oneself until one has proved oneself profitable on the platform. Being profitable comes with practice and not just mere reading. Most people who mouth their wins online aren't consistently profitable if you check them up. Perhaps, they've a flash in a pan kind of luck experience and then they embark on marketing and sales of trade signals by advertising their once in a while glory. That's isn't even an issue anyway. I don't believe anyone would think so or have much issue with how people earn on trades (whether through trading or marketing) if only people will be honest with it.

TimeTeller

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Quote from: isaac_clarke22 on March 27, 2022, 03:32:32 PM

Quote from: LUCKMCFLY on March 26, 2022, 02:39:39 PM

~

Reading alone won't give you skills in any field. This is what contributes to trading unlike being self-taught to any other field like programming. In trading, you'll really need to risk your money and test the waters if the strategy or the knowledge you had learned went into full effect.
Some would suggest to a virtual trading or a simulated one, but in that case you wouldn't really have been affected by the losses you make unlike when you're actually the one trading.

Source: Experience.

Demo trading may be helpful in getting the grasp how the trading buttons work for specific platform.
But it may not be helpful when you are already actually trading with coins using your own funds.
Because every coin has their own trend in the market, and that is for you to learn.
The demo trading won't give you that kind of knowledge but the experience itself.
And it would take lots and lots of experience to learn possible tricks in trading.

Wawa2013

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Quote from: Emitdama on March 27, 2022, 12:59:38 PM

It is good that you have chosen to learn and not be like all those who would be talking about profit first when they have no clue on what they should do in trading.

Profit is important, we all know that very well, but we should all also understand that before we can achieve success in making as much wealth as we want, we would have to first of all lay the foundation which is required for us to achieve that success. So, what do we do then? What we have to do is to learn. When we decide to learn and gain knowledge, that is when we would see things start working out for us.

Profits will follow us naturally, as we continue to improve our trading skills. So never stop to learn, there are always many new things in the world of
trading that we need to learn. Don't just focus too much on chasing profit, because that's what ultimately makes us fail. Don't be complacent when
we succeed in getting big profits when trading, because there are always shortcomings in us that must be corrected. So it would be better if we did
an evaluation every time we finished trading, so we can find our shortcomings and we can correct them in the next trade.

isaac_clarke22

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Quote from: LUCKMCFLY on March 26, 2022, 02:39:39 PM

~

Reading alone won't give you skills in any field. This is what contributes to trading unlike being self-taught to any other field like programming. In trading, you'll really need to risk your money and test the waters if the strategy or the knowledge you had learned went into full effect.
Some would suggest to a virtual trading or a simulated one, but in that case you wouldn't really have been affected by the losses you make unlike when you're actually the one trading.

Source: Experience.

stepwilli

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Activity: 1045

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Quote from: Mpamaegbu on March 26, 2022, 01:23:02 PM

Quote from: nhaila on March 25, 2022, 06:14:26 PM

In fact no one can ever gain complete knowledge by trading, suppose you went to trade but could not trade enough. In that case you must gain knowledge from different sources or you may face big risks in trading. So no one can ever be completely wise in trading.

What are you up about? I'm suspecting someone just hit me hard in the head as I couldn't (still can't) believe you actually typed what you did in your comment. Have you ever heard of that expression, "Practice leads to perfection"? Yeah? Well, that's what happens when traders repeatedly trade and then make notes of their trading activities so they don't repeat any of their errors or wrong calls. If you're talking about risk in trading I would also let you know that every faucet of life has its own risk. Risk isn't just a trading thing.

I think what he mean there is that when you trade, you are only using the current knowledge that you have and you will remain this way. Also when you trade, what you will only see are the prices or the numbers but if you learn how to trade, you will usually go at a certain site and you will read a wall of text, they can have images too.

Both are needed tho because you can't just learn and learn but you have to apply what you have learn and you are not dumb enough to stay on that direction if you know that you are only losing but you will try to change your approach in trading. If needed, you might need to research for more information and skip doing trades for a while.

Kasabus

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Quote from: logfiles on March 20, 2022, 11:22:41 AM

Just like most things in Life, in trading there is the theoretical part and the practical part. Theoretical is just like the initial guide, especial if you are a newbie in trading, but the most important aspect is actually practicing.

You can never learn how to trade if you are not practicing and with each trade you open or close, you learn something. Practicing also means you have to deal with emotions which you don't experience if you just watch YouTube trading tutorials.

Learning in trading is more achieved through experience, but learning the basics first prior to experience is also important. You can gain knowledge from reading books and watching video tutorials but don't stop there. In fact, learning in trading happens every day particularly every time you trade. Experience will always teach you the best lessons in trading, and by overcoming every losses in trading, that will certainly motivate you into a good trader. And being a good trader means you develop your own discipline in trading, and you know you can't be successful in trading if you use your emotions over your brain.

Emitdama

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It is good that you have chosen to learn and not be like all those who would be talking about profit first when they have no clue on what they should do in trading.

Profit is important, we all know that very well, but we should all also understand that before we can achieve success in making as much wealth as we want, we would have to first of all lay the foundation which is required for us to achieve that success. So, what do we do then? What we have to do is to learn. When we decide to learn and gain knowledge, that is when we would see things start working out for us.

LUCKMCFLY

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I believe that the only way for a person to increase their knowledge in trading is to read, read books by market speculators who have already spent a lifetime there, as is the particular case of Richjard Wyckoff, Jesse Livermore, among others, It is also necessary to read books by some like Warren Buffet, the idea of all this is that if you have a clear concept of what they went through, it is totally applicable to the crypto market.

I know that many people like to receive education through videos, but I think that by reading knowledge is strengthened much more, in this case the power of reading is imminent.

Franctoshi

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It's good you advance your trading skills to have a broader knowledge about the largest money market in the world , so after you might have done this what I suggest you do is fine a good trading strategy that gives you a good percentage of accuracy (65%-90%), you get this by checking it consistency via going through a historical Data.

iv4n

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Quote from: AicecreaME on March 26, 2022, 10:44:58 AM

It's good to study a lot of indicators, however, you can't apply them all in your chart since it would just bring confusion to you, 2 or 3 indicators to use are enough, in my opinion. Trading profession is a long term perseverance job, you need a lot of patient and money to gain experience and to make it your foundation to make profits in the long run.

It's not easy, sometimes you'll feel like you want to give up, but you should never do that. Always finish what you've started, it's all worth the risk.

I agree with you about the confusion part! I think this happens to people more often than we think, there is simply an overload due to too much information! In those moments, people get confused and forget everything they learned! That's why learning about trading should go easy, one by one! Learn the basics first and then practice a little and slowly add the next thing, again a little practice to determine the material, and then add the next! If along the way someone comes across something that is going well for them and makes a profit, stick to it and work on it, add the next one only when it stops working!
And I 100% agree that trading and making a profit is not always easy, there are many difficult moments when the market makes crazy turns, but we also learn from that, surviving a difficult moment and staying in the game is a real experience necessary for the success in the long run!

Mpamaegbu

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Once a man, twice a child!

Quote from: nhaila on March 25, 2022, 06:14:26 PM

In fact no one can ever gain complete knowledge by trading, suppose you went to trade but could not trade enough. In that case you must gain knowledge from different sources or you may face big risks in trading. So no one can ever be completely wise in trading.

What are you up about? I'm suspecting someone just hit me hard in the head as I couldn't (still can't) believe you actually typed what you did in your comment. Have you ever heard of that expression, "Practice leads to perfection"? Yeah? Well, that's what happens when traders repeatedly trade and then make notes of their trading activities so they don't repeat any of their errors or wrong calls. If you're talking about risk in trading I would also let you know that every faucet of life has its own risk. Risk isn't just a trading thing.

GelatikKembar

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The OGz Club

if you want to get the ability to trade well it's easy, buy a book about trading and learn,
or you can join a trading class on telegram, of course you have to look for a really good channel, because a lot of scams.
and there are other ways, learn on youtube and google, of course this is the hard way because you have to really have a high will

BobK71

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The issues you are highlighting are of course needed but it would have been better to have knowledge of the details. I don't think trading is just a matter of studying and mastering. To understand this, you have to face reality as well as study. Combination of real knowledge and study it will be more easier to gain complete knowledge.

Topic: Getting more skills in trading - page 3. (Read 847 times)