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

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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.

That's why in trading we can't just rely on signals or what experts say because they can be wrong, including us too.
Traders who like signals or are very dependent on signals should start learning to analyze and use signals as additional references, but decisions should be taken based on their own analysis, even if the results are wrong, it is much better because there is increased skill in our trading knowledge.

High profile or experts are actually not people who are free from mistakes and in the end they can become experts because they learn from mistakes and evaluations, but even that is not a guarantee that they will no longer make mistakes, so mistakes in trading are normal and not just for newbies but for all traders have made or will still make mistakes but as long as the end result is profit then you are still on the right path.

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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.

Well, that just shows that even the most expert ones can be wrong in their prediction.

I've heard the name "Garreth Soloway" already because he got interviewed by a YouTuber that I used to watch whenever he was making Technical Analysis on any markets. He also said in that interview that he predicts that Bitcoin will go as low as $10,000 again. BTW that interview was in 2022, and even though we're close to it ($17,000), we didn't reach that $10,000 price.

Anyway, why follow their calls? Can't make your call so you will just follow what experts are saying and come what may? What happens, happens. Is that how you treat investing? If that's the case then just stop investing. If you can't make your own decision when it comes to investing, just stop or you might lose even more money.

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Quote from: Len Saldua on February 28, 2024, 11:14:20 AM

I think it's good to look at what "the smart money" is doing sometimes, and realize that they may not be as smart as we think they are.

Probably yes. Besides, we can't call them an expert or good trader if they don't experience losses in their trading career. Maybe I was wrong but this really happened because in the other way, losing would help us learn more and be an indication that we need to improve. If we are afraid to lose, well, I don't think we choose trading but rather be a silent rich investor who has no name and reputation so people don't care who we are.

Being smart about money is also to carefully choose where to use it. Trading is not a bad choice but the question is if we really have the capabilities to perform such high-risk.

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Quote from: Rengga Jati on February 28, 2024, 03:41:05 PM

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.

When someone, whether a professional trader, popular person, influencer, and other parties make some predictions, it doesn't mean that the prediction must always be 100% accurate. In trading predictions, this does not seem to mean whether the prediction is right or wrong, but rather whether it is close or still far away. Because that's what predictions are, whether they are made from methods and research that are quite in line with the analysis or just because of hope.

But what is certain is how we interpret the various predictions made by these people. If they are not correct in their predictions, don't blame their predictions. Because after all, the final decision for us to do something remains with us. They are only a matter of consideration, not to always be followed 100%.

You should always put it up into your mind that there's no such thing about 100% precise prediction no matter how known or popular those personalities are. This is why im not really that a fan on following those
people no matter how good they are or whatever reputation and popularity they do have. I would rather be trusting up my own analysis rather than on following their but somehow there might be some consdierations
in speaking about snipping some trading ideas with those so called known professionals or veterans of this market, on which you could really be able to snip out some ideas which it could be applied into yours.
The must thing to have as a trader is that you should really know on how to make use both TA and FA on which we know that it is really that relevant here on this space.

It might not really be giving out assurance but you are really that doing your very best on making the possible best approach towards on dealing with this unpredictable or random market.
There's no way that we can be able to make those precise predictions but at least we have done on what should be done rather than on having those random
and pure guess approach.

Rengga Jati

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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.

When someone, whether a professional trader, popular person, influencer, and other parties make some predictions, it doesn't mean that the prediction must always be 100% accurate. In trading predictions, this does not seem to mean whether the prediction is right or wrong, but rather whether it is close or still far away. Because that's what predictions are, whether they are made from methods and research that are quite in line with the analysis or just because of hope.

But what is certain is how we interpret the various predictions made by these people. If they are not correct in their predictions, don't blame their predictions. Because after all, the final decision for us to do something remains with us. They are only a matter of consideration, not to always be followed 100%.

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Quote from: Len Saldua on February 28, 2024, 11:14:20 AM

I think it's good to look at what "the smart money" is doing sometimes, and realize that they may not be as smart as we think they are.

There is a reason we call them smart money and not infallible money, more often than not they will take the right decision as they have a long history at looking at the markets, and that alone gives them a huge advantage over an investor that is just doing this for the first time, however the markets are unpredictable and they can take smart money by surprise as well, and what better example than what we are seeing with bitcoin right now, in which we are already above the 60k level, a level many thought we may not reach until 2025.

Len Saldua

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I think it's good to look at what "the smart money" is doing sometimes, and realize that they may not be as smart as we think they are.

Len Saldua

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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.

LIQUIDATED !! Wow.

May I just add Davinci is a known whale and quite likely holds thousands of Bitcoins. Many people in the space consider him a legend.
Garreth Soloway is probably not a Bitcoin whale, but certainly a very rich trader featured in Kitco quite a few times.
Thomas Kralow ( another rich crypto trader running multiple companies and living in Dubai ) also shorted Bitcoin a few weeks ago, but I don't know how bad his losses are.

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Quote from: the rise on February 26, 2024, 04:35:59 PM

This shows that the market is fluctuating and cannot be predicted by anyone, even very well-known figures. From this, it is recommended that we carry out our own research on the market. With the abilities we have, we can analyze it personally without having to rely on other people, even someone who It is very well known to be wrong in predicting prices, so just be confident when you trade

Traders are still inevitable to losses regardless of higher positions or high-profile traders. So we don’t have to rely our success to them since no one gets perfect in trading. Everyone loses with such an unpredictable market. If you want to maximize winning in your trades, navigate your own potentials and develop your own skill and reliable strategies that will certainly work based on your trading style. There’s always a time for us to lose in trading, but we can always lessen them and use them for our own motivation to be more successful and profitable in trading.

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Quote from: Hamza2424 on February 20, 2024, 03:28:39 PM

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.

Hamza, rightly said, here. Knowledge is progressive and that applies to trading as well. For a trader to loss one or two trades is normal but when it's a consistent loss especially on a straight roll, it shows big and obvious flaws.

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I don't care because I don't follow known traders. There's maybe one or two guys that I watch from time to time, one of them being Camel Finance on youtube and it feels like this guy is on the market with all of us, trying to make money and sharing his trades.

Also, I like bulls and people who don't shill shitcoins, just tell us how they see the market and don't make big mistakes. If you make a huge mistake, the way this Soloway did last year, or Tom Lee in 2017, or Tone Vays in 2020, you're dead to me. I'm not going to follow you.

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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 )

Does anyone know if Garreth Soloway is still holding and Davinci have their short positions on Bitcoin or they have already been liquidated after the price reached the level of 57,600 dollars? It is very interesting how such a drama ended.

the rise

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This shows that the market is fluctuating and cannot be predicted by anyone, even very well-known figures. From this, it is recommended that we carry out our own research on the market. With the abilities we have, we can analyze it personally without having to rely on other people, even someone who It is very well known to be wrong in predicting prices, so just be confident when you trade

kojektea

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It is normal that no one can predict the market 100% correctly, even seniors from the conclusion still do their own research and don't rely on big profiles or signal givers, if you do your own research you will feel more satisfied with the results. you get, besides that you will understand the market better, instead of depending on the signals people give, you only expect profits from other people, and you don't get your true self.

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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.

Bitcoin, the Pathfinder and crypto grandfather, zoomed passed $53k today. Those who took a short on it at $50k are in severe pain now, no doubt.

Anyway, concerning following anyone's calld blindly; the first thing anyone should realize is that those making the calls aren't supernatural beings. They're humans like us and are prone to mistakes and errors. At best, we all are speculators in this industry. There's no holy grail. No one knows it all. I don't like following anyone's calls but I can use their calls as a gauge for my trade by confirming if their calls align with what I see on my charts. If they say to short it but my charts say long it, I may not take the trade at all or take it based on my chart but with minimal risk. If they say short it and my chart says short it too, I will take the trade with ease and a slightly increased risk.

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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.

Of course anyone can be wrong because market movements are predictable at times and not predictable sometimes. If they always get it right it means they are manipulating the market, but sometimes they will get it wrong which shows that no one will perfectly predict market.
Depending on calls and signals from influencers or trading experts is not reliable, they can make wrong calls sometimes that’s why we always advise people to use the amount they can afford to lose and to also make their own research before starting.

Learn to be an expert so that you can depend on yourself.

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Quote from: tvplus006 on February 21, 2024, 06:46:32 PM

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

...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.

No matter how experienced a trader is, he will still make mistakes. But he will have much fewer such mistakes than a novice trader. But the main difference between an experienced trader is that they adhere to the risk management strategy, and even if his position is liquidated, he will lose only 2-3% of his deposit, unlike a beginner who will lose the entire deposit.

Nobody today who is a trader that have not experienced different kind of mistakes during the time of trading anyone who claims that it has not experiences losses or mistake in Trading that person is not a good Trader that is from my own perspective I know that there must be an error elsewhere in trading that will make someone.

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

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.

I do make my emphasis very clear that no one is a perfect trader and before you become a perfect Trader you have undergo different kind of losses in Trading because without experience in loss in Trading I don't think that you'll be able to to understand the protocols of trading so I don't agree with anybody who says that they are perfect in Trading the most that goes obstacle during the process of learning that makes them to be more inquisitive and the more conscious of what they are doing in Trading so that is my theoretical explanation concerning trading and it's profit.

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Quote from: joeperry on February 26, 2024, 03:02:50 AM

Personally I wouldn't be surprised. There's no man in the world can predict things 100% right but even if they make a wrong call that doesn't mean they are a failed trader, just like candlesticks, there's an ups and down and maybe that call is just a losing candle but if you are going to take a look in the bigger picture their profit is higher than their losses. That's why in technical trading you should do a back testing on how many wins and losses before you'll know if that strategy is profitable or not.

I agree that in this world there is no human who can make predictions with 100% accuracy. And yes, this is a fact that everyone knows. So seeing pro traders or famous traders experience defeat is also a normal thing. But as you said, those who are more experienced in trading usually have a higher profit ratio than the loss ratio they have. So even if they make mistakes, they can usually control themselves and not lose all their capital. In contrast to beginners, sometimes they can lose all their capital in trading.

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Personally I wouldn't be surprised. There's no man in the world can predict things 100% right but even if they make a wrong call that doesn't mean they are a failed trader, just like candlesticks, there's an ups and down and maybe that call is just a losing candle but if you are going to take a look in the bigger picture their profit is higher than their losses. That's why in technical trading you should do a back testing on how many wins and losses before you'll know if that strategy is profitable or not.

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That's true that anyone can be wrong with their calls, analysis and predictions. No one's perfect on this market especially if we're all dealing with the most unpredictable asset in the world.

Take a look at those high profile people that owns institutions, they're just giving numbers that are too high that haven't been met yet. So, if it's not met and they start to sell then that only means that they're on it for the money as usual. And there's no need for them to justify their actions because it's normal for them to do such calls and trades.

But if the time comes with those high predictions of theirs and they're still holding, they're making themselves genius.

Barikui1

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I believe that in trading, no one has a crystal ball, anyone can be wrong and get liquidated if he or she makes the wrong calls, so for the few years I have been into trading I have come to understand that, no body in the trading industry get his or her decision 100%, their are good and bad days for every trader, wether a newbie or a veteran, what differentiates a skill traders from the rest is that they are profitable, they have more winning than losses, because at some point, everyone lose money while trading, but the ability to manage your risk properly to minimize loss, make the difference between a skill traders and a less skill traders, so when a high profile trader lose a trade I just feels that it's normal, that they will eventually recover their losses back.

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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.

It just means that trading is not 100% guaranteed. Even profitable or successful traders make mistakes sometimes.

That's why there is risk management, where it will help you to manage your risk explore and manage your losing trades.
Stop loss is a big help just in case our trade will go to opposite side.

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

...They both shorted Bitcoin at 50K - 49K. And quite likely they're both getting liquidated soon...

Obviously, when they opened a short position, they understood that there were prerequisites for this. Since this signal has not been worked out yet, perhaps the right decision would be to follow them and open a short position. In this case, you will have a better entry point than the one Gareth Soloway and Davinci have.

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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.

Is there anything like too accurate in trading, no there is not. It's all about predictions, if you make it and it's correct, that means your analysis validated your call and if it does not, it doesn't mean you are wrong, it means something has gone wrong that you didn't see it coming. During the last Bitcoin bullrun, did anyone see that Bitcoin was going to crash to $15k at instant, none and if you tell people they will say it's impossible but it happens because no one knew FTX was having nothing on them.

You will noticed that some people can make call that Bitcoin will go to a particular price but later, it wouldn't happen, it's not like they are wrong, something can happen anytime like wallet hack of a big holder and that can result to a lot of sell pressure if traders get the news quick and if you predicted and open a position that Bitcoin will go up, you will get loss or even liquidated if you are margin and future trader.

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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'm not surprised, and this isn't something to dwell on because it's normal. Nobody can be completely perfect, and the cryptocurrency space is all about speculation. You either get it correct, wrong, or close to the prediction. You can't make ten calls and have them all be correct without missing one. It does happen on occasion, but only rarely. And it's not just about the short term; even in the long run, you can make mistakes. Just do your analysis and make sure you see a good sign that what you're predicting will work for you or get you somewhere close.

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Quote from: $weetne$$ on February 22, 2024, 06:57:11 AM

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 feel normal because I know the high profile traders are also human beings and they can make mistakes too. Professionals traders also have losses but it's just that they have gather many experience from the many times that they have traded therefore they don't make common mistake that a newbie only joining the market recently will make. High profile players also get carried away by their fame that they begin to think that they can control the market because of the high influence they have from many people following them on social media. It's because nobody can predict the market correctly always therefore it's not good to follow a prediction we see online even when it's from a trusted high profile trader because they can be wrong too.

This is fortunately true, sometimes you may feel down because you made a mistake and lost some money but then you remember that even the best traders in the world have down days and make a loss, this means that it's normal for us to have those type of days as well.

I understand that it may feel a little different in some cases but we should be considering the chances that we are having as something we can't avoid. Loss will happen no matter what and it doesn't matter if you are an expert on the field or not, eventually you are going to make a loss, and you just have to learn to live with it. There is no reason to expect them to be 100% correct at all times, they just need to be right most of the time and make a profit over long term.

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I don't follow much what these guys do anyway so if I'm being honest, I don't feel a thing about them getting the wrong calls because traders will do that from time to time and it just so happens that we're so used to them doing right trading that them losing their trades is such an unnatural occurence for us, it's just the reverse of being an amateur trader, you've got a lot of mistakes that you do but you're so surprised when you get a big win, see that? It's the same thing.

It's not my vibe to follow their calls because I've seen a lot of these before, fake traders and shitcoin influencers trying to promote some crypto or giving out signals that most of the time only benefits only them.

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Quote from: Bushdark on February 23, 2024, 12:37:07 PM

I think it's not all about shorting Bitcoin but they want to create a trigger in the market that would make people start selling there Bitcoin just like them so that Bitcoin would fall and the will keep making money from the dip. Sometimes many of the analysis we keep seeing in the market are just to create problems in the market so that people would have no option than to sell their Bitcoin just like the way it has been happening before. It is only the whales that would have the power to manipulate the market not ordinary traders.

Yes some high profile traders use their influence trying to manipulate the market, they do this because they know that if others know they're shorting Bitcoin that they'll join them in shorting Bitcoin and too when they're longing Bitcoin that the publicity will also follow them. Don't believe everything that a high profile cryptocurrency influencer is saying. They'll always want to use their fame to make money therefore they're always willing to do anything. Sometimes too they could have being wrong as they misinterpreted the market and lost their trade, there's always two types of people among high profile traders, those that want to deceive other people and those that would have made a mistake not knowing that they're wrong. Those that made a mistakes will always come back to apologize.

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I don't know why Soloway is being interviewed to be honest. When it comes to bitcoin he's mostly wrong and he doesn't admit it nor does he apologize. He usually doubles down. I watched a couple of his rants because he was so bearish in the last 2 years that I thought I'd watch how he does for entertainment purposes and in short he did something like this.
When we were at $20k he said bitcoin was going to 9k, then bitcoin went to 16k and bounced back, so he was telling everyone it's a short-term bounce and 9k is coming, then as we kept going up (22k, 25k, 30k) he was going up with his prediction, saying that it's not 9k but 12k, just you wait, 12k is coming. 3 months later bitcoin was at 40k and Soloway was doubling down that it's 12k anyway before the halving... We all know what happened before the halving. Basically if you listened to Soloway for the last 12 months, you lost a lot of money, or a lot of opportunities.

There are people calling him out, just watch this

"Sometimes the truth hurts and that's ok."
-Gareth Soloway
Cheesy

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Can you elaborate on this ? I thought you'd lose your "bet" if the market goes against you, as with DaVinci shorting Bitcoin at 49K

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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.

No one knows what will happen in the future and it's their prediction based on something that made them to take that call and you are free to differ if you feel that it's not going to happen.

High-profile crypto users sharing such insights s more of a manipulation than their actual activity to pump or dump the market so no matter who say what, its ultimately your decision to make your strategies and giving attention to manipulators will do more bad than good.

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Quote from: Assface16678 on February 20, 2024, 06:26:58 PM

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.

Trading's a wild ride and mistakes happen to the best of us including the big shots. It's a reality check that even with skills and experience, there's always a bit of uncertainty. No trade's foolproof even with all the analysis. It's like a shared struggle and losses sting but it's part of the game. Just have to roll with the punches and keep pushing for those gains. The trading life, right?

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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 think it's fine to share your positions publicly, especially short position traders will be eager to try and tell as many people as possible why the investment is doomed at the moment and it makes a lot of sense to sell their positions. After putting on a trade as a high-profile trader, there will be many people interested. And all the people that follow your strategies are going to help to move the price into your favour. For me these high-profile traders are just entertainment, I am not going to copy their trades or being influenced by their convictions. There will be big traders that are long in the market and big traders that are short. The crypto markets became so competitive and active in the last few years that we are going to find a trader for any type of strategy. This just shows again that every trader can be wrong, it's not going to be that the famous traders are going to be right every trade they put own. When it comes to trading it's important to have more positive than negative trades, but our goal shouldn't be to make money with every trade. A good trader will also realise that he is wrong and take a loss to close out his failing position.

Bushdark

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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 think it's not all about shorting Bitcoin but they want to create a trigger in the market that would make people start selling there Bitcoin just like them so that Bitcoin would fall and the will keep making money from the dip. Sometimes many of the analysis we keep seeing in the market are just to create problems in the market so that people would have no option than to sell their Bitcoin just like the way it has been happening before. It is only the whales that would have the power to manipulate the market not ordinary traders.

mindrust

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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.

You need to learn from them so you won't end up like them. Jesse Livermore used to be the world's best trader. He made money while everybody was losing during the depression in 1929. He was shorting the markets when everybody was on the other side of the trade and he won. He won big. In 1934, 5 years later, he lost everything and ended his own life.

What does that story tell you?

Winning is hard. Keeping what you have is harder.

Mahanton

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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.

Whether you are a Crypto OG or something or to those traders who do make out some big calls in the past but this isnt really something enough for you to make yourself getting exempted with wrong calls.
One of the reasons on why im not really that a fan on following someone when it comes to trading calls and suggestions or whatever it would be. I do really instill into my mind that we are all speculators on this world
on which there's no person who would be having those all the time right decisions and calls about movement of the price.It would never be called speculative in the first place if it was that predictable
on which it is really just that right that you should really be skeptical whenever someone who do make out those claims that they are good and always right. lol

Predicting even on the last minutes movement is already that random and not known. If there would be tons of people such as this then they are really that hell of a rich guy
and doesnt really mind about sharing up their tips into the masses.

bluebit25

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Yep, they are just normal people and also make mistakes in decisions, it's just that the crowd around them likes to praise/judge their actions. I don't care too much about what kind of person they are, I just want to see how they are doing. Investing in any environment is the same, but the more you show off, the more you should compete. They can entice people with flashy ways to win people's trust and entice them to join.

The case here is not a scam, it is simply a wrong decision, but one should not look at a wrong action to say that they failed, because there have been and will be times when they will win.

moneystery

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what they did was like what paul toder did when shorting the american stock market which was falling at that time. at that time paul toder entered when the american stock market was bullish, and he speculated that there would come a time when the stock market would fall. and sure enough, when the american stock market dropped significantly, he managed to reap huge profits from it.

and most likely these two people hope that the bitcoin market will fall in the next few months and want to profit from this. well, only they know what their fate will be, because shorting like this requires quite a lot of money, and whether they have enough money to hold their position is something that matters.

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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.

It's just that they definitely put up margin and capital that they are ready to give up if they have to be liquidated. Or instead they have large capital and they have a price range that is far from the liquidation target. Because the margin they use may only be a few percent of the total capital they keep in their futures trading account. Especially if they use Cross. So I'm sure they will increase their capital and only use a few percent for their margin.

But yeah, all pro or beginner traders are almost the same. both definitely have faults and weaknesses. So it's not surprising that we often see millions of dollars liquidated in the futures market. And I'm sure those who are liquidated are not only beginners but also pro and well-known traders.

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Quote from: Queentoshi on February 22, 2024, 06:52:52 PM

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

To me it simply goes to show anyone can be wrong, and you shouldn't be certain of anything short term.

So long as we remain humans there is always the chance of human error. If human error does not exist at the point of beginning due to consciousness human error may come in later maybe due to laxity, or even emotional imbalance. If you're following in the steps and copying it to signals of high-profile traders always have it at the back of your mind that is always the possibility of human error and the analysis, and they can also make wrong calls, so do not trust completely and always.

When trading, trust no one but only yourself. Even high-profile traders cannot be trustworthy when it comes to trading. They can succeed and make profits, but they also lose at times and mostly, the amount they lose is bigger than those they gain. Although novice traders can ask advices from high-profile ones, but always remember that what work for them may not be working for us. So never put on them the success of you trading. Trade on your own risk, and trade when you think you are ready to lose apart from making gains.

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Quote from: Queentoshi on February 22, 2024, 06:52:52 PM

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

To me it simply goes to show anyone can be wrong, and you shouldn't be certain of anything short term.

So long as we remain humans there is always the chance of human error. If human error does not exist at the point of beginning due to consciousness human error may come in later maybe due to laxity, or even emotional imbalance. If you're following in the steps and copying it to signals of high-profile traders always have it at the back of your mind that is always the possibility of human error and the analysis, and they can also make wrong calls, so do not trust completely and always.

It's true, every human being will certainly make mistakes even if they are very careful in what they do and we can't know for sure when this will happen, following the signals of other people who have a lot of experience in trading is certainly not something that can happen. wrong, but we must be able to understand exactly what we are going to do and don't let us just follow and not understand correctly what we are going to do in trading which makes us lose money in the trading we do.

Julien_Olynpic

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As for the traders mentioned, it remains to be seen how their positions will be closed. Personally, I don’t yet have absolute confidence that they will lose. Overall their deals look reasonable. As for me, Bitcoin is now at a local top and needs a good correction for further upward movement, if, of course, this upward movement occurs at all. In addition, March is coming up - quite a bearish month for Bitcoin. In addition, halving is ahead - and this is also usually the reason for high volatility. I would evaluate the trading results only after the position is completely closed. After all, a position can last a long time. It can also be averaged for quite a long time.

Queentoshi

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

To me it simply goes to show anyone can be wrong, and you shouldn't be certain of anything short term.

So long as we remain humans there is always the chance of human error. If human error does not exist at the point of beginning due to consciousness human error may come in later maybe due to laxity, or even emotional imbalance. If you're following in the steps and copying it to signals of high-profile traders always have it at the back of your mind that is always the possibility of human error and the analysis, and they can also make wrong calls, so do not trust completely and always.

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Quote from: adaseb on February 22, 2024, 12:31:37 AM

I never pay any attention to any high profile trades. Remember Ackman who shorted that Herbalife because he assumed it was a scam. He had a huge short and went very public about it but the stock still kept going up and up. He had to cover at a loss if I recall correctly.

Most professionals keep their trades secret and never post it live. If you are good at your job you don’t have to post your trades online to get likes. Those types of people most of the time don’t know what they are doing.

Certainly. Those high-profile and successful traders have always want to trade privately and have no time to flex their gains and losses from trading, as the people around won’t change the situation either. Instead of letting other traders to get updates from their personal trades, they will just utilize that time maximizing their trading improvements. That’s how these high-profile traders would prefer to exist.

And take note, losing in trading is not only exclusive for beginner traders. All traders have their fair share of losses, but professionals have manage to keep it to theirselves and use it as a motivation to increase their knowledge and upgrade their skills and strategies.

sulendra12

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I feel nothing and don't really care, but rather I do learn something that even experienced well-known traders also have made wrong calls and you shouldn't be ashamed of that. The only thing that is important is to analyze your mistake so you can avoid the same mistake in the future run because smart trader would adapt and change their strategy a little bit to match the current condition of the market.

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I'll mind my own mistakes and calls.

Everyone can make all of these mistakes but what's wrong is if they're influencing other people to sign onto their groups and then giving bad calls.

That's a terrible service that they're giving to their influenced people and that's why we always tell to avoid such service and signals group because they won't do any good.

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Quote from: el kaka22 on February 21, 2024, 07:16:21 PM

Quite normal to be fair because they are regular people and they are inclined to make mistakes as commonly as us, and there is nothing wrong with that. I understand that we are going to expect them to be a lot better than us, and that's why making mistakes is not something they can afford to do in most cases, that's fine and I understand the logic, but that doesn't mean that we are going to have an easy life, we should be considering the situation a little different.

I hope that we could end up with a good return and have something that should be easier to manage. All these people who make mistakes are fine, they are just human, and everyone in the world, even if they are the CEO of the richest wall street company, could make mistakes.

Everyone creates mistakes and loses in trading, even with simply investing. That is already given since none of us are perfect and none of us are highly capable to deal with an unpredictable market. However, losing comes with an advantage, at least you will learn from your mistakes and won’t do the same mistakes again. Even high-profile traders have seen losing in the market, and for me that’s acceptable knowing we can’t beat the market at all times. While they can be gaining the bigger advantage to win and make massive profits, they are also prone to losing and lose huge funds when they take wrong decisions in trading.

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

To me it simply goes to show anyone can be wrong, and you shouldn't be certain of anything short term.

Perhaps, they don't even know what will happen next, so it was expected to make wrong calls rather than making always right. But this won't make them lose their reputation because everyone knows this would happen in trading. This will tell us, especially newbies that there is no exception for losses, even though we have been so many years in trading, that still happens and this is because of the market condition --unpredictable. And no way to change it no matter what we do as there is no perfection in a volatile market. That is why it is been called -- high risk and so we don't take this easy, especially for beginners, or think, we can do this without proper knowledge and good skills.

tvplus006

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Quote from: $weetne$$ on February 22, 2024, 06:57:11 AM

I feel normal because I know the high profile traders are also human beings and they can make mistakes too. Professionals traders also have losses but it's just that they have gather many experience from the many times that they have traded therefore they don't make common mistake that a newbie only joining the market recently will make. High profile players also get carried away by their fame that they begin to think that they can control the market because of the high influence they have from many people following them on social media. ..

But still, we must take into account the fact that Garreth Soloway and Davinci open short positions have not yet been liquidated, which means that they can still potentially bring more profit. And until their positions are liquidated, we cannot say that their assessment of the current market situation is incorrect. Let's grab some popcorn and see how this drama ends.

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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 feel normal because I know the high profile traders are also human beings and they can make mistakes too. Professionals traders also have losses but it's just that they have gather many experience from the many times that they have traded therefore they don't make common mistake that a newbie only joining the market recently will make. High profile players also get carried away by their fame that they begin to think that they can control the market because of the high influence they have from many people following them on social media. It's because nobody can predict the market correctly always therefore it's not good to follow a prediction we see online even when it's from a trusted high profile trader because they can be wrong too.

Sim_card

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It is hard for anyone to predict the price of bitcoin accurately, and this is why in trading and in real life nobody is perfect in whatever that we are doing, how more of predicting that is 50/50 that it will be or not going to be. Professional traders make mistake and this is why nobody is above mistake, and a little mistake made by a professional trader will make him run at big loss. Bitcoin volatile nature is affected by many factors and we don't know the next news that will pump the price or dump it. For this reason, I wouldn't blame anyone that predicts the price of bitcoin wrongly, because we are not seers that look into the future, but we are humans and we can only speculate what we think.

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Quote from: Zaguru12 on February 20, 2024, 06:05:42 PM

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.

If there's unfailing %100 accurate predictions by anyone in crypto trading, then everybody will certainly follow that trader and there'll be no more loses in trading, infact trading will become a get rich quick scheme, therefore despite the best efforts of experienced traders and analysts they'll still have a bad day. I've learnt a bitter truth in this forum that trading is heard, despite following the best strategy and analysis at a given time, loses can still occur. Infact I know professional traders who have years of experience in trading, complain to me that they've lost certain amount today in trading, and it always reminds me that it's better to trade with the amount that we can afford to loose, especially for newbies.

Nheer

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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.

Experts giving their opinions about the movement on the price should be regarded as a prediction just as other people also predicted a different price because being an expert doesn’t mean they control the price they just seem to have better understanding of the price movement. Different people give their own opinions and predict a price but only few will be close to the price with their prediction that is why it is advised to always carry out personal research and have knowledge about the movement of the market while trading and not just follow the predictions of other traders so when they are wrong you wouldn’t blame it on them when things turn out differently. Being an expert doesn’t guarantee 100% success in trading, experts can also get it wrong and run at loss sometimes.

Quote from: adaseb on February 22, 2024, 12:31:37 AM

Most professionals keep their trades secret and never post it live. If you are good at your job you don’t have to post your trades online to get likes. Those types of people most of the time don’t know what they are doing.

you’re right, i don’t also take people who post their trades online seriously, i think they only do that to get like and increase their social media engagement. It is a good professional ethics to keep your trades secret and not share your trade signals online and I wouldn’t refer to those who share them online as professionals.

adaseb

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I never pay any attention to any high profile trades. Remember Ackman who shorted that Herbalife because he assumed it was a scam. He had a huge short and went very public about it but the stock still kept going up and up. He had to cover at a loss if I recall correctly.

Most professionals keep their trades secret and never post it live. If you are good at your job you don’t have to post your trades online to get likes. Those types of people most of the time don’t know what they are doing.

el kaka22

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Quite normal to be fair because they are regular people and they are inclined to make mistakes as commonly as us, and there is nothing wrong with that. I understand that we are going to expect them to be a lot better than us, and that's why making mistakes is not something they can afford to do in most cases, that's fine and I understand the logic, but that doesn't mean that we are going to have an easy life, we should be considering the situation a little different.

I hope that we could end up with a good return and have something that should be easier to manage. All these people who make mistakes are fine, they are just human, and everyone in the world, even if they are the CEO of the richest wall street company, could make mistakes.

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Quote from: tvplus006 on February 21, 2024, 06:46:32 PM

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

...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.

No matter how experienced a trader is, he will still make mistakes. But he will have much fewer such mistakes than a novice trader. But the main difference between an experienced trader is that they adhere to the risk management strategy, and even if his position is liquidated, he will lose only 2-3% of his deposit, unlike a beginner who will lose the entire deposit.

Just do remember that even so-called trading experts can experience losses. It is not all the the time that they are on the winning side of things. But yes, if you know what you arw doing, you can lessen or reduce further losses, and stop possible liquidation of your position.

tvplus006

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

...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.

No matter how experienced a trader is, he will still make mistakes. But he will have much fewer such mistakes than a novice trader. But the main difference between an experienced trader is that they adhere to the risk management strategy, and even if his position is liquidated, he will lose only 2-3% of his deposit, unlike a beginner who will lose the entire deposit.

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Remember that there is no such perfection in trading. Though they are experts and have been in trading for many years this never gives an assurance that they will be perfectly right as the market is volatile. Therefore, it was not a surprise but seems accepted knowing that this is what really happens in trading.

If these high-profile traders make wrong calls, that much more it happens to the beginners. But this is not bad as nobody makes a perfect decision, well commits mistakes even though we don't like it. Otherwise, all traders are rich and wealthy people

goaldigger

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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.

Losing is normal and every trader experienced it, high profile trader are taking risk that much and they are playing really against the trend most of the time, well you can just watch how they trade in the market but I don’t suggest to follow them simply because they have their own style and strategy in trading. The market is unpredictable, and you should not be complacent about your position, you should always have your cut loss price to avoid being liquidated.

South Park

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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 do not find this surprising at all, people make mistakes all the time and even if they did not there is no strategy that is perfect either, so obtaining some negative results is to be expected, what matters is if they are actually successful traders as they win more than what they lose, personally I have never heard of them, since I do not really care about what other traders are doing and instead I prefer to concentrate on what I am doing to increase the size of my holdings.

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

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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!

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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.

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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 ? (Read 664 times)