Topic: How To Make Money Trading, Even When You Are Wrong (Read 490 times)

Can you link the video that you're talking about, it might help that we would know what exactly that person is talking about since you've said that you don't have a really good English vocabulary, might help that others would see it and at the same time would help this thread so it's not all talk about being careful with whatever you're watching online as it's full of information. From what I can understand with what you're talking about, I'd say that you're just describing someone that's hodling with extra steps, they don't quickly sell when the price isn't in their favor so they keep it and then trade another which is just a complicated DCA to me.

I would advise you not to follow strategies or anything that you see in a video whether it's on YouTube on some social media platform because there is no guarantee that those strategies are correct and should work for everyone. Remember, a strategy that might work for someone isn't supposed to work the same way for you, this is why every trader needs to have enough knowledge so that they can create their strategies and trade according to that.

This is why, I would suggest that you try and learn to trade yourself first and don't go for strategies and stuff that you see on YouTube or from some influencer and even if you want to do that for practicing purposes, I would say you watch multiple videos with the same strategy and then see if you understand it well.

If I may ask is it everything you watch on a Youtube video you put in action?
Also have you consider the creator of that video if he is a known and famous trader, because most of those people who only comes to Youtube to make video to gain viewers, whereas some people are being misled with what they watched over the Youtube. What you would do is that always try to check how known is the youtuber before you can implements all his/her strategies to you trading skills.

You can post here or make a reference link to the video so that people will understand what you mean.
NB: Do not follow anyone asking you to sign up on a particular broker or exchange to join them and trade, most people have been scammed through this way.

Lucky to see my 3rd ATH, despite coming late to crypto in 2017, and I was also lucky enough to experience forex trading in the past, so all the same behaviors are happening again and again.

Greed, gambling, whatever you wanna call it. But I've changed my outlook as I said, I don't feel bad people are doing it anymore, I kinda think it's good to have constant sheep go to be slaughtered, so it keeps the markets healthy.

Still I believe it's irresponsible to tell newbies the wrong thing, some are misled. But people who pay for signals anyway probably don't care about real trading, just want a fast way to get rich, so deserve to lose.

There is no need to ask how as it was too obvious that the video is fake. In fact, how could you imagine a wrong answer becoming right? How could you imagine that even if you lose, you still win?

Don't overlook the situation not think that all you have seen on YouTube and these social media influencers are true, many of them are fake. Because there is no way to earn money from a losing trade but rather expect losses. That video has no intention to educate people but it made it fool viewers like you. Stop thinking about it as it only bothered your mind instead, help yourself to understand that trading is not always profitable.

Even doing wrong? He might be wrong in some trades and tried to recover in the next trades that he does.

They never listen to the real advice that don't buy those signals because the signal is actually making them the product of their own. While whoever spreads the signals give them that opinion of his about the market.

So, it's like paid market research for the lazy ones.

Isn't all the people selling signals the only real version of how to make money while being wrong? Lol

I used to feel sorry for people paying to buy losing signals. Now I think they just deserve it.


That's not a problem actually, that's an expected situation. The real problem isn't about what 'traders' do it's about that these aren't even traders. They don't have the right mindset, these are gamblers.

It's actually true that their are some good and genuine content creator on YouTube, but I can attest to it that, the fake and unreliable ones are more than the genuine ones, concerning the trading aspect, the major causes of traders losing money in trading is as a result of watching two three or four videos on YouTube and think that they are ready, not knowing that their is more to trading than just watching few videos on YouTube and thinks that they have known it all.

For you to be successful in trading, you need to have knowledge of what you are doing first, then patience comes second, and knowing how to control your emotions, knowing how to use your leverage properly, knowing when to stay off the market and many other things you have to masters before venturing into trading, if not, you will keeps on liquidating yourself in the market.

A loss is not a loss (a permanent one) if you manage to recover it but this is not only possible on some type of trades and then if the trader is using a stop loss. Once a permanent loss is experienced on one trading session, we can still get lucky next time to win our trades which can act as a compensation to what we have lost last time.

To have a positive mindset is much better than having a negative one, as that can make them to try again after a couple of failures and that is going to be a key to their success, not that if you are going to be scared and possibly quit because you think there is no hope anymore no matter what you are doing.

That is the problem with most beginner. What they want is a 100x or 20% gain right away and that puts them in a wrong direction trading. What traders need is a consistent approach. And with that approach, you don't need to right 100% all the time. You just need to in sync with the marketplace more often than not. have good risk reward and follow it consistently.

The thing is, we don't really trade the markets. We trade are beliefs of what will the market do next base on our own analysis. With that beliefs is how we put our trades and investments. SO in order to be a better and successful trader, you must learn t o be able to read price on your own, make your own beliefs on the market, and trade it with the best of your abilities consistently every trading day.

This is what those youtuber do, they always want to make their videos engaging and they need a tool that can easily attract people which is money since this is hot tool which can attract a lot of people. That's why here are these people the same with OP think that what they show is legitimate since they see that those people earning good on video. People need to have critical thinking that if these people really could able to for sure they would mot share their secrets and most provably that they are in focus to earn a lot of money on the methods they know and these people will not spend or waste their time creating videos since it will just add up to their work.  People should know that they don't need someone to earn on trading. But they could do something so that they can enhance their skills and they can avoid those people who says something unrealistic.

So he risks little to gain little because he doesn't have a clue where things will be going, then he has enough capital to ignore the losses but also bets enough on the next move to recoup the losses, no only that but somehow after being wrong 8 times in a row he magically knows that the market will retrace, but just as inexplicably he didn't do the opposite, by gaining with the first trades and then gaining again with the retracement and ended up with a zero-sum no chance of making a penny risky strategy!

I've seen a ton of strategies on how to lose your money but this one is top 3.


That's Martingale on steroids, a 8 consecutive loss chain will need you to go to have 500x your initial bet in capital and risk all that to gain one unit, the risk of one more going also bad would see you unable to compensate with a new trade, and when you arrive at the point of making 100 trades, risking thousands of dollars for getting at most a few dozen dollars a day you're better playing roulette or dice.

As long as it is a lesson for us, it is clearly not wrong to follow the directions and listen to the explanations on YouTube, because I also agree with your statement that everything we hear must always be clarified by several people who really understand it. So that we ourselves will not be wrong in interpreting it properly because basically everyone is highly encouraged to learn from various things so that we can find more important knowledge for each of us.

I think you are pretty new here that is why you are talking like that. When I was a Freshie I too was attracted to these types of YouTube's and social media influencers and it led to some losses as well. They will always try to do something that will be a little different from the market so that they can get a little attention and views.

Remember if someone Is a successful trader he will not do such a creepy thing just to get a couple hundred dollars. Trading is a very profitable business so why would someone work so hard to get views on YouTube? Try to be under some good persons so that you can learn and earn as well don't go after these types of people .

You definitely don't believe everything you see on YouTube because what happened to them is not what will happen to you, but you can't believe everything on YouTube. But if you are new to trading, you must trade very carefully because your trade can be damaged due to a little carelessness. You must have a long-term plan in trading. If you can trade with a long-term plan after checking the market, you will definitely be a successful trader.

Overall, such actions will only be able to be done by traders who already have a high level of experience in the world of trading, which means that it is unlikely that this method can be thought of by novice traders, and yes I quite agree with your idea here that there is a possibility that this method will actually mislead beginners when they see the video. Trading is always about the possibility of profit and the possibility of loss and a loss is a loss, even if you can turn a loss into a recovery or even a profit but yes not all loss situations can be tricked that way.

Yes it is true that videos like this are very likely to make a beginner change his perspective and thoughts about trading, it is possible for them to think that "it doesn't matter if I lose because I can recover the situation into profit by doing the way I saw in the video", when in reality it is not as easy as turning the palm of the hand, meaning that such events will not be able to always be repeated, only occasionally and only when market movements are in your favor.

I think there's no harm in following the videos on YouTube.  Even though many people brag, of course there are those who really teach the theory.  But of course you should not accept everything without clarification.  However, of course having a good mentor is a great thing.

I think this is a good thing to minimize the risks that occur.  And I think this indicates he is a good analyst.  This set up is what many beginners skip so they find themselves falling.

I think you should look for channels that you can fully understand.  This helps you to really understand what is being said.  Look for channels that use your national language.  Then you can register a demo account to practice it.

You saw it in a YouTube video? Then you are wrong mate. The things that you saw in the video are made by a YouTuber and not a Trader. Moreover what you watched is just the content he wanted to make you see. For him this is the best way to make money, even when he is wrong. In real, if you don’t take the market seriously, then you will definitely make loss. The best way to avoid loss is to take minimal risk with minimal profit when market is uncertain.

It’s contradicting because if you made a profit then your decision is not wrong. You just use different approach on what you preferred as correct but definitely he is unknowingly in right position that’s why he made profit.

All the pointers that you share is just unorthodox style of trading.


You can post link here for users to watch it by visiting the website which the video uploaded. Currently there’s no way to directly share videos here due to forum limitation.

You can't be wrong and still make money in Trading, its impossible. You should watch out for all this influencer, YouTubers, affiliates most don't know how to trade they just look for there baits that would pay them for there courses and keep feeding people with lies and unrealistic results.
That shouldn't be your problem mate, you should be concerned on developing yourself and your skills to leverage on your ability to approach the market than running after such strategy. There is no shortcut in trading you have to follow, learn and endure the process, the earlier you realize this the better.
Sort out for reliable strategy and learn more on it than learning an unrealistic approach don't be pressure or hasty to earn but consider learning as major part of the game to ease your journey. You can apply for Mentorship programme to help you and you will be amazed on how fast you grow.

Don't always believe in what other people are saying, don't watch too much of YouTube videos, some things you see online are nothing but pure lies, if you dare try any, you will lose beyond recognition, some of them you're seeing are paid for what they say, they are sometimes shilling or influencing others through advertisements, you have to just learn about what is good for yourself by trading using the right and specific desiring pattern which is expected, i don't know how someone can get it right while doing it wrong in trading.

In crypto, it doesn't matter which alt you're charting, if BTC pukes, alts do too. But when you're unsure of BTC direction, I use a Hedge trade strategy - Long XXX alt which has a bullish structure, and Short YYY alt of a bearish structure with equal risk%. This always worked for me resulting in net profit—one such recent trade I took - Short SUI and Long BNB.
https://i.postimg.cc/NjZY3Gwx/image.png

When you are just a newbie in the field of crypto trading, there is no need to rush just to get a big profit. At least 3–5% should be satisfied with that first, while you are learning trading.
The problem is that others are envious of other traders that they watch on YouTube, thinking that they will experience the same thing.

That's why it's important to learn the basics first in order not to look like a fool because you always think it's a get-rich-quick scheme; that's not the mindset of a newbie in trading.

Videos like that are very likely to mislead many novice traders because novice traders with minimal experience think that it is the truth, especially by showing pictures so that they are more convincing.
It is impossible for traders to never experience losses and always be able to overcome the mistakes they make so that they still end up making a profit, maybe they have experienced but it's just occasionally but occasional experience cannot be an accurate reference that mistakes can always be changed and still provide profits, and I am never interested in videos like that because it will only make us think that trading is easy even though it is the opposite.

You need to know the basics first from the videos to trade. No indicator will work if you can't catch the small things. Markets are not just driven by numbers they are influenced by human emotions and psychology. Fundamental analysis goes beyond price movements to consider other factors that affect the price of an index currency. By understanding the underlying economic drivers traders can make decisions consistent with broader market trends.

One of the problems of new traders especially the newbies is that they would want to use small money to trade and earn faster in the market using a large leverage. We should not use more than 10x as a trader and that should not make us copy other traders to use higher leverage especially when we don't know the amount of capital they are using to trade. It is better we follow our own rules so that we can profitable in the crypto market. Greed has always been the problem and we should make sure we take our eyes from that.

And what is the basis for this trader confidence that the price will return to the purchase zone anyway? Based on my experience, I can say for sure that not all coins increase in value after falling. And for some coins, sometimes you have to wait several years for movement.

When you are trading and things goes wrong, then I will say you are losing money from trading, so I don’t understand how you are going to be making money when things are going wrong? Maybe there is something you don’t understand. Also I will like to tell you that you shouldn’t trust most of those videos which you are going to be seeing on YouTube, most of them just post just because of subscribers and like, they just want to build their YouTube accounts so that they are going to be paid, so if you trust must of those YouTube videos, then you will be losing a lot.

When you are trading, always trade with little amount you can afford to lose, don’t trade with the money which incase if anything happens, you will end up being affected. If you have a good strategy, you might be trading with little amount of money, and be making more profit than someone trading with big amount of money. So always risk what you can afford to lose.

If you are not a English native speaker, you should have just posted link to the video, so that everyone will be able to watch the video themselves, not everyone will understand your post, but if you post the link, everyone will be able to watch the video. I will recommend you just edit your post, and add the link, it’s not late for that.

Yes indeed, risk management can do a lot to make a trade successful. And if you do it more consistently everytime you trade, then most likely you will never end up losing most of your trades. But do not end up with overtrading, that’s another story to tell. And never fall everytime what YouTubers have to say, its only rare of them that are telling the reality about trading, majority are still hiding their real experiences with trading, or they’re not actually trading in real life, who knows?

Usually this would really be talking about Trailing Take profits and Trailing SL's on which if you do really just that know on how to make use of this kind of strategy and made out some good decision making then
you could really be actually be able to make out profits despite of those losing position but of course not all the time it would really be a profitable one because there would really be movements or negative
that could lead out into reds but somehow if you do have this kind of skill or knowledge then this do really shows out that you could really be able to lessen up the the risks that you are taking.

This is really that advantage of those professionals or skilled ones compared into those noobs around but of course everyone starts on being a noob then learning is something that you would really be needing to follow.
As for PDF then there are tons that you could be able to see on, it would really be just that matter of research and finding with those information. Somehow there are some ebooks
which it might be something significant for you to learn on, but well its not worth it since everything could be seen online for free.

A fairly simple strategy, but it requires good trading knowledge, technical and fundamental analysis and knowing when to enter and exit.

It will work on spot or futures trading using compound strategies, and it's effective enough for short-term trading,
provided you've got strong enough capital to keep making incremental purchases 2x more than the initial purchase.

When the market starts to rise, it's time to sell with more profit, especially if it passes the first purchase price.

Without getting much into the trading strategies you mentioned which was shared by so called influencer I want you to discard all the techniques which they blabber as they do anything and everything for views, if they can win using any of those signals or strategies they won't be wasting time making videos. I have wasted enough time by following indicators and signals shared over YouTube they shamelessly share the indicators which repaints as well. Go back to basics and avoid these influencers.

Don't always trust YouTube videos.  Because they make most of the videos based on lies to get views.  Trade should always be done from own experience.  Learning to trade is hard enough.  But with regular practice of psychology and technical analysis it is possible to master trading.  Moreover, there are some basic rules of trading which can be followed to become a good trader.  Don't believe anything exaggerated in a video.  Because most of the videos are scams and made to get views.

Cryptocurrency market is very volatile and trading in this market is very risky.

Have good risk management is a first thing must learn before funding your trading account to trade. Risk management includes identifying risk reward ratio by that a trader has to determine the entry price, cut loss price and take profit price.

Then using a stop loss order to cut loss when price hits a cut loss price.

A better order is Stop limit order.

A trader must know difference of Market order and Limit order too.

One of best weapons in trading
Understanding the different order types
What is a stop limit order?

Trading is about timing the market perfectly, I'm wondering how can you make money when you make mistakes with your set-up?
Not unless that was an unintentional trade and yet the market favors your position and you are able to create money.

You should not fully depend to anyone when it comes to trading especially to the self-proclaimed influencer because they are doing it for purpose and you might not be able to adapt their strategy in time. As a trader, you should have your own strategy that can work based on your own timeline, don't listen to that about doing wrong and still make money, that's not how it works in the real world.

YouTubers often fake the truth to make their channel more attractive and make money. So trusting the internet or YouTube without checking something would be a wrong move. I mean, never assume that other people's tricks will work for you. Just like you can't learn to swim without getting in the water, you can never learn trading by copying strategies shown by others without doing your own research. We learn from mistakes and correct those mistakes to make ourselves more experienced and skilled. So to improve your trading skills and expand your knowledge about trading, you need to do your own research and have the right strategy and understanding of the market.

So basically he is trading without a stop loss. And since he is trading this way, generally usually some of those losses will reverse and they will dampen his earlier losses.

Sure this will work in a sideways market. But won’t work in a bullish or bearish market. If the market is bullish and he keeps shorting, eventually his position will be so large that it will liquidate him.

It’s not a good way to trade without a stop loss. It’s better to take a loss early and move on to something else. Don’t stay in losing trades for too long.

It can be profit with one lucky trade. We made bad decision, opened a bad position but the market gave us a gift and we got profit but it is for one or two lucky trades. In trading, long term, luckiness won't stay with a bad trader too long time.

Learning from mistakes and losses in trading is not easy. Traders usually make things worse and worse by repeating mistakes and even escalate it by trying to revenge the market.

From small losses to bigger losses and at the end, bankruptcy by over greedy and over leveraged in trading.

If we are wrong in trading then how will we see the possibility of making money. We cannot make money trading as long as we think we are making mistakes. Your destination is west but if you walk east then you will never realize your destination, similarly if you use wrong strategy instead of right strategy in trading you will never reach your right goal. If we feel that we are trading with the wrong strategy then we need to change the strategy and then change the strategy to apply the right strategy so that we can achieve success. Although if a trader makes a mistake, he will learn from the mistake and move forward, but if the trader realizes the mistake, he does the wrong thing again and again, but it will definitely be foolish for him, so he must trade with the right strategy without doing such foolishness if he wants to make a profit.

When you say a trader made things wrong in trading, it means loss. A trader can not make mistake and get money from trading.

It is a good capital management and let me elaborate it more.

You can start with $100 and if you succeed to increase it to $200 or $500, my advice is to withdraw $100 or $400 profit, and continue to use only $100 initial trading capital to trade more.

You will not lose if your initial capital if you manage your capital this way.

Nothing is completely sure in the market.

This is the power of risk management, as long as you are consistent with your style or way of trading, you will be profitable, you need to master and control your emotions, not chasing loss is very helpful for this kind of case.
Maintaining this in the long term will make you profitable.

Exactly, the current trend is telling unreliable info on social media to attract followers as much as possible to make money. There are hedge options to neutralize the possible risks but advertising this info as making money even if you are wrong as a trader, I don't know what to say. All right, these Youtube streamers wanna make money but there are smart ways to do it, unlike the video creator which has been watched by OP. They even clean the comment section of whoever criticizes their biased info flow and the wrong steps they show to newbie traders. My best suggestion is to read trading forums instead of watching such videos full of useless data.

Little advice don't believe in what you are seeing in internet or youtube, I mean dont just believe them thinking that what happens to them will also happens to you, you are different from them, maybe the strategy you saw in YouTube is working for him but it doesnt mean it will work for you, you are just putting yourself in a tight and bad situation incase you take inspiration from his strategy, maybe use it as a reference and try do trading and if you notice that its not working for you then stop, all traders have their unique way of trading based on their capabilities and skills dont just copy others strategy and thimking it will work for you. Do your own research, make your skill grow in trading and widen your knowledge about trading stuff in that way you will come up with your own strategy in trading and how will you approach the market.

He's wrong with his first prediction on how that token is going to be? if it's on the spot, everyone can still recover unlike the futures traders that they can't go back or sit while they're liquidated by the market.

Yes, you're free to post the video but don't expect that many will view it.

     What else would you expect from a YouTube influencer? Of course, the majority of YouTubers, when they fail, are after views to get a profit after 1 month if the channel is monetized.
You know the current trend on YouTube of influencers who have an account there; it doesn't matter if they look stupid or lie; what they say is fine.

     Because what they're after is to criticize, bash, and get noticed in the video they'll upload to their channel to attract the attention of the YouTube community.
It doesn't just happen once to different influencers, to be honest.

I saw a video on Youtube where the trader is able to make money trading, even when he is wrong...

The key points:

He is able to be in drawdown from 8 trades in a row, because he is not risking a large lot size per trade.

He knows the market will retrace back or close to the original first trade,

The newer trades act as the profitable trades to dampen the loss from the earlier trades

I am not an english native speaker so I dont understand everything in the video..do you know where I could find more info on this strategy in text/pdf?

Is it possible to share the video here in case someone is intersted in sharing more details about this strategy?