How do you feel about high-profile traders making wrong calls ? - page 4.

aylabadia05

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Quote from: Len Saldua on February 20, 2024, 03:14:16 PM

I'll give you two examples: Garreth Soloway ( featured in Kitco a few times ) and Davinci ( early Bitcoin adopter )
They both shorted Bitcoin at 50K - 49K. And quite likely they're both getting liquidated soon.
To me it simply goes to show anyone can be wrong, and you shouldn't be certain of anything short term.

In the short term, people rarely get the results they want. Never mind coins that are not clear, shorting Bitcoin is also often missed or wrong.
I don't blame people for conveying trading strategies here because trading is not as easy as you imagine. Only people who are ready to commit for the long term often get the same results as expected. Very few people are ready for the long term because there are too many challenges to face.

Len Saldua

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Can anyone think of any high-profile traders that got it totally wrong ?
I can think of a few off the top of my head : Michael Burry, Sam Bankman-fried, Kevin O'Leary, and other VCs backing FTX

Maslate

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Quote from: Dr.Bitcoin_Strange on February 21, 2024, 11:48:29 AM

It's true that some people can actually be referred to as professional traders, but that doesn't mean they can't make the wrong call in trading. I don't usually feel any how, or should I say, I don't have any specific way I feel about any experienced trader that faces lose in their trade. The reason is because trading is kind of a skill that someone can adopt all the measures that can help them become successful traders, but the crypto market itself is so dynamic that even an expert cannot use their professional trading skill to know the market direction all the time.

In the life of a human, mistakes are inevitable, so don't ever feel that professional crypto traders or crypto experts are not supposed to experience fail trades because there is no one who cannot experience fail trades.

There are no professional or well-experienced high profile traders that can go against an unpredictable market. Yes, they can be exceptionally good with their skills and trading strategies but it cannot guarantee that they will keep winning on the market, or they will keep taking an edge over market’s volatility. That makes the market more risky to trade, and trading itself becomes riskier. Hence, we cannot tell that some can be excuse from losses because they have huge funds, or they are highly professional and high profile traders. Trading involves both winning and losing, and while others are profiting from their trades, some traders are expected to fail and lose their funds.

Jegileman

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Quote from: Len Saldua on February 20, 2024, 03:14:16 PM

I'll give you two examples: Garreth Soloway ( featured in Kitco a few times ) and Davinci ( early Bitcoin adopter )
They both shorted Bitcoin at 50K - 49K. And quite likely they're both getting liquidated soon.
To me it simply goes to show anyone can be wrong, and you shouldn't be certain of anything short term.

I don’t feel anything when anyone makes a prediction and it doesn’t go as predicted. Trading is real time speculation and when you begin to see it as one, you’ll not have any problem with resulted outcome of a trade because your mind must have already been prepared to accept the outcome. Again, no human is perfect and as such anyone can make mistakes even when it looks so real to be untrue when they’ve predicted it. For every trader, cryptocurrencies are all speculative assets and when you agree to accept it as what they are, your trading journey will be more cautious than you can imagine it yourself.

snowpega

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hmm To be very honest I don't take any trade in this current time frame where sentiments are very bullish or suddenly bearish where all the investors got trapped easily well on the other hand I don't follow any influencers while taking any kind of trade rather than that the best thing is that we should learn and take own trades at our own risk but after having good knowledge. our funds our risk. well, let's say you are following any influencer and he/she has made such a wrong call and you have taken action on his signal which was a wrong one signal your whole portfolio can be affected badly and even can be finished if keep following that wrong call/signal.

Besides all that I will never ever do future trading which is a very highly risky part, including risk some personal preferences are also added due to which I would never do future trading. I am not giving any financial advice here everyone has his own experience and should follow his own mentality. DYOR... Many Thanks!

Nrcewker

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These high profile traders are humans also. They also make mistakes. If they would have been winning all the trades, then they could have became the richest person of the country. They sometimes make losses also and that too huge ones. But they learn from it and try to become better. It’s not always advisable to follow them. Just use them as reference, and trade your own money with own risk.

Dr.Bitcoin_Strange

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It's true that some people can actually be referred to as professional traders, but that doesn't mean they can't make the wrong call in trading. I don't usually feel any how, or should I say, I don't have any specific way I feel about any experienced trader that faces lose in their trade. The reason is because trading is kind of a skill that someone can adopt all the measures that can help them become successful traders, but the crypto market itself is so dynamic that even an expert cannot use their professional trading skill to know the market direction all the time.

In the life of a human, mistakes are inevitable, so don't ever feel that professional crypto traders or crypto experts are not supposed to experience fail trades because there is no one who cannot experience fail trades.

foggyb

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Depending on how leveraged they were, and their on-hand capital, they may not necessarily be liquidated as soon as you think.

There are wild swings in both directions in a bull market, especially one as hyped as it is currently. For example, $47k is not an impossible down-leg in market conditions like this.

However, to your main point: high-profile traders take on a huge ethical load when they make public calls for specific market turns. I wonder what the legal implications of their wrong predictions could be.

My other question is: what if some are maliciously trying to manipulate the market (advertising a false short while secretly going long)?

sheenshane

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Quote from: Finestream on February 20, 2024, 06:52:58 PM

There are no perfect traders in the market even if we say there are those high-profile traders. They are still susceptible to losses because they also go for wrong decisions that made them commit mistakes and eventually lose their funds.

I tend to agree with this.
In fact, the truth is, that the cryptocurrency market isn't predictable and no one can predict it even how experienced we are.

We can't predict accurately because the price varies on different factors such as events or sometimes on the news.
That's why even experienced high profiles in this crypto world can struggle with predicting market movements consistently.

Finestream

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Quote from: Len Saldua on February 20, 2024, 03:14:16 PM

I'll give you two examples: Garreth Soloway ( featured in Kitco a few times ) and Davinci ( early Bitcoin adopter )
They both shorted Bitcoin at 50K - 49K. And quite likely they're both getting liquidated soon.
To me it simply goes to show anyone can be wrong, and you shouldn't be certain of anything short term.

There are no perfect traders in the market even if we say there are those high-profile traders. They are still susceptible to losses because they also go for wrong decisions that made them commit mistakes and eventually lose their funds. However, losing is part of trading and you won’t get to maximize your profits without enduring some losing moments. But with the experience and skills you gained as a long time trader, you learn to manage and avoid some losses because you’re getting better in your craft through consistent trading.

jossiel

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Quote from: Len Saldua on February 20, 2024, 03:14:16 PM

I'll give you two examples: Garreth Soloway ( featured in Kitco a few times ) and Davinci ( early Bitcoin adopter )
They both shorted Bitcoin at 50K - 49K. And quite likely they're both getting liquidated soon.
To me it simply goes to show anyone can be wrong, and you shouldn't be certain of anything short term.

I know Davinci and he's great when he's encouraging people to buy Bitcoin several years ago. But that's it, and should stop from the admiration from there.

If it's about trading, anyone can have mistakes and their presence on their platforms can be there but it doesn't mean that they're always good and right.

I haven't followed him since that viral video of his but I do subscribed to his channel but rarely watch his videos.

Assface16678

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Well, I think it's normal. Anyone could make a mistake in trading. Qe traders are not perfect, so expect that we could make a mistake, and those experts or big names in trading are not an exception. That's the proof. Even with skills and experience in trading, we can never assure a sure trade in trading. Every trade, even with technical analysis, will have a slight margin of error, and that error could cost you much. Based on your statement, it looks like the trader takes a big risk by predicting the outcome of the bitcoin market, but we never know if they are still safe. Anyway, that's it. Now every trader will know that we are all equal in trading, as we are all vulnerable to losing trades. Anyone could feel the frustration of losing a trade, but we can't be assured because, as far as we want, we need to keep earning in trading despite the losses.

Wexnident

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Quote from: Len Saldua on February 20, 2024, 03:14:16 PM

I'll give you two examples: Garreth Soloway ( featured in Kitco a few times ) and Davinci ( early Bitcoin adopter )
They both shorted Bitcoin at 50K - 49K. And quite likely they're both getting liquidated soon.
To me it simply goes to show anyone can be wrong, and you shouldn't be certain of anything short term.

Uhm, nothing? I mean the me back then would have probably thought the same, that anyone can be wrong, but the me now just doesn't really give a damn lol. Predictions are called predictions for a reason. It helps identifying the reasons why said predictions are wrong, but even then, most people still wouldn't be able to accurately predict something 100% of the time. It's arrogant to think so in the first place since losses are a part of trading.

And said traders probably have stop loss setup properly anyway. They'd probably lose money, yes, but it's a lot less compared to people who don't setup one.

Zaguru12

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Quote from: Len Saldua on February 20, 2024, 03:14:16 PM

I'll give you two examples: Garreth Soloway ( featured in Kitco a few times ) and Davinci ( early Bitcoin adopter )
They both shorted Bitcoin at 50K - 49K. And quite likely they're both getting liquidated soon.
To me it simply goes to show anyone can be wrong, and you shouldn't be certain of anything short term.

Trading is just speculation and prediction and we all know that everyone can not be right with there predictions all the time. The technical analysis of a coin can simply not play out and then reverse even if an expert predicted it properly based on his strategies that has worked Before, he would still get a loss one day because the market does what it choose and sometimes it doesn’t go with your trade.

As for them shorting bitcoin, it is not that bad although bitcoin is currently having a high demand but other traders like that can see a short position and enter it does matter. They can probably still be in loss but yet to just hit stop loss

Hamza2424

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Hmm, OP firstly make sure to choose the relevant section while posting any query in the form of a thread, this topic belongs to the trading section. At the same time, I don't follow the trading signals so it really doesn't matter what I think about their calls and I strongly oppose those who follow copy trading and other trading signal sources because such traders don't have a longer lifeline in the market.

Yeah anyone can be wrong but with a strategy where you've made an analysis and you were wrong there on that failure you experienced your strategy flaws and you can make it better for the next time and this option is not for those who are losing in the signals. Becasue the've not gained anything from there except losing their funds.

Len Saldua

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I'll give you two examples: Garreth Soloway ( featured in Kitco a few times ) and Davinci ( early Bitcoin adopter )
They both shorted Bitcoin at 50K - 49K. And quite likely they're both getting liquidated soon.
To me it simply goes to show anyone can be wrong, and you shouldn't be certain of anything short term.

Topic: How do you feel about high-profile traders making wrong calls ? - page 4. (Read 664 times)