Topic: If you aren't reading you shouldn't be trading - page 5. (Read 773 times)

right, good traders are not those without losing and making consistent profits. every pro trader must have experienced mistakes in their trading, but they will still exist because they can manage risk at every transaction. what they think about is how to find opportunities to come back after experiencing defeat by refreshing the brain first. they realize that they are also human

Add on to that how actual traders shouldn't really think of profit in the first place imo. Their priority is to always make sure that they don't lose out, or even if they did, they are able to minimize it. It's rather simple tbh, if you don't take the time to study, hodl, if you do, day trade, that easy. Hard thing is most people seem to have the wrong idea about entering crypto or trading in general, since they think most traders are rich a f, which is totally wrong.

From my own point of view fundamental analysis moves the market thus determine the candlesticks pattern formed, this assumption was based on some articles I read and watched some videos on Price Action trading using  candlestick patterns like marubozu always indicates the market trending in one direction possibly due to a fundamental news and this occurs consistently during PUMP and DUMP thus creating trading opportunities. with reference to yesterday BTC/USD 4hour time frame chart a bearish marubozu formed indicate that the bears had taken over the market might be due to some fundamental news

We can never emphasize reading enough. Howbeit, it depends on what sites or articles one is reading from to guide one on fundamentals. The reason I said this is because FOMO and FUD are misleading, and not true guage of projects. Yes, these may stabilise the market but it will only be for a while before the market resumes it's direction.

These ones can not be accurately called traders. They're gamblers. Trading is a learned profession like law, medicine, engineering, carpentry etc.

Reading is one of the ways for us to always do when trading.
Reading and then continued by trying to analyze and understand.
Reading means that we start our analysis, reading the chart, market price condition, updated news, current experiences, and also more.

Of course, refreshing our minds will also refresh our ideas and ways of trading. We even don't know how much capacity and also how tired our min, that probably will lead us getting decreased ability and efforts for trading. (Although it depends on each trader, maybe different)

Mistakes are inevitable and what matters here is you do really mind on how you do commit those mistakes and how to get rid or trying to avoid it on next time engagement.

Easy to say but its really hard to be done but once you do get experience then you would definitely see this to be helpful on your trading career.Learning is limitless
and you would be finding it interesting when you are really seeking out some answers into your question.Research and personal experience would always count.

There are reasons why some traders just go and trade without any constraints and just treat trading like gambling. It's almost always because of the envy of other traders that they see and want to imitate their gains and don't want to go through the process of learning. I recently read something about maturity when it comes to trading, that you need to be mature enough to know when to trade and not just risking your capital every time.

This is one of the important in trading which most the newbies are not aware of it.
Even before when I started trading, I admit that I made a lot of mistakes, especially the risk management and lack of knowledge because my mistake again for lazy of reading/asking/researching about how trading really works.

It seems to me that the importance of self updating and learning is one that many disregard or do not think of it as essential when in fact it is crucial to judge timings of a trade.

To my view, this manner of self-learning and refreshing is one that goes beyond trading and into the general lifestyle. It is a petty to see that not many people underestimate the power of knowledge, and especially, its power to trading.

I hope with enough reiterations (like these) it becomes a topic that many will be aware of.

Seriously as a trader you really need to always refresh your memory always because there are lot's of new things coming and for you to make maximum profit you have to be updated. There are lot's of coins been launched so you have to always do research about them to differentiate between legit coins and scam coin and to know the one you are going to buy.

It is easy to predict the market if you got some references and I agree that those successful traders, they didn't took that success just an overnight. You can think and guess how long they've been doing tests, trials and errors until they've managed to learn a few lessons and apply it as they trade. There's more in trading and it's not only the profit that you should think about because when you've gained everything properly and be familiar with the market and trading, profits as you trade will be the next.

For every traders, there will be loss. A trader who haven't loss is either not consistent or lucky to trade when the market is going in one direction
Also, as you said here.
I count this situation as greed.

A  good/consistent/profitable/sustainable trader does know the  following;

- Good risk management
- Good emotion  handling
- Good finance handling
- Good on making back up plans
- Accepts losing trades and doesnt get impulsive
- Knows to read up TA and FA consideration

People do mostly realize in the end on when their expectations had failed out on the market.

Hmm...this is truly what a trader should have in mind, not gambling in form of trading and at the end loose money because of greed. If you know you are not a trader, please don't tell me this cause I have lost  money due to my past mistake. Seeing this now is a remembrance of my many failure in trading...thank God I'm doing well now.

Trading needs a lot of reading and research, you should always be updated on the trend upcoming through the news forecast.  This belongs to the fundamental analysis, there could be an impact on the market price of what's news comes out and there are too many social media to subscribe regarding this matter.  Regarding the coins that you pick to trade, you should also know how engaging those developers are with the community of investors, it means the less activity it could be there's the chance that they had no progress and potentially becomes a shitcoin.

This...a very important when you're in a trading field.

You touch a topic that I bring up from time to time and yet it seems many of those that think themselves as traders never do, the one that wants to call himself a trader has to update himself constantly and this is because if he does not make an effort to keep improving his trading strategy then there is someone out there that is doing it and that will eventually beat you and get your money, trading is a competition and it is by far the most fierce around the world and those that do not take the time to prepare themselves are just gifting away their money to the ones that do.

It's just as simple as the both goes hand in hand both for technical and fundamental analyst. Trading is one career that requires steady update on how the news could affect the direction of a trade or possibly how an indicator or a candle stick can direct a trader on where the market is heading. If there is no time for a consistent update on your previous knowledge as a trader I guess at some point some level of gambling sets in.

A successful trader isn't a trader who makes consistent profit without any loss but rather a trader who knows why his trade went the opposite direction and also a trader who understand risk management. Most traders makes massive profit in a single trade and blows everything down in the next trade as such there is no professional despite his initial achievements. To maintain clean records of both profit and loss margin reading as a trader is inevitable because despite the level of knowledge you might have acquired there must always be a newer technique you learn each time you seek to update your previous views about how the market behaves.

Only gamblers stay a full month without refreshing their memories on what the already know because in as much as trading is concerned there are multiple ways of predicting market flows and it only takes consistent research to get a hand full of approach to maintain a good profit margin in trading.