Topic: If you aren't reading you shouldn't be trading (Read 794 times)

every transaction that we will do, then we must analyze it first, so that we have a reason when doing something, so that we understand the risks and returns that will be received later, even though after that we really depend on the market that will work, at least we don't gamble , because this is a business

There are people seeing on ads or other platforms seeing that trading is just a basic thing most of them using a trading guide like they have a demo on making trade its users think that trading is just a basic factor not a difficult to understand when the user already confident about making a trade this is the time they made a decision to deposit to a platform and then this is the struggle comes because they think trading is just a basic thing predict the coming trend until reaching the set limit and that's all profit immediately but not. In some trading, it depends on the trader when they hold it or keep profiting not the system itself making a decision when is the end of the trade. Some of them didn't read the policies of the trading platform and even the different techniques so they keep lacking of information.

correct if you are not doing the right thing your trading is just the same way with gambling, hoping for luck

to accompany your position and if there's none you'll surely lose you money, unlike with doing it the proper

way, reading, watching and following those important information guided you to make the proper calls and have

a succeeding journey towards this business.

The  age that we are in presently, it is often said that it is rule by information. If you are not informed you will be deformed. The trading platform is a very delicate place to go into without been adequately informed about how the market works. Let me share an experience I had sometimes ago, when I first knew about crypto and I was so obsessed that it is going to be an avenue for me to make quick money. Little did I know that I was shooting myself at the leg. Lost lot of money, and it did affect me so much that I had to go back to the drawing board to re-strategies on how to come back strong. Trading involves gathering enough information about the particular coin you want to trade. When you are very informed about all the information needed confidently and couple with the market trend you can proceed and make yourself proud.

Trading is actually a long process of learning and it needs patience and eagerness to learn continously. Committing mistakes in trading is always been there especially to all the newbies who have lack of knowledge in trading. Trading is 100% depends on research. Once you pick a coins for you to trade, you must need to make sure that it is trusted and you can already know or determine the capabilities before you entrust your future profit in it. In order for you to be successful in trading, you need to have a knowledge about all of those coins and especially a research skill and some strategies for you to avoid any loses of trading in the future.

When you are trading you tend to collect information which can be analysis or news reports which changes or your decisions are based on but our trading should be based on something, if we are trading blindly then its much more like a gambling.

The actual problem is the "money-making mentality" actually. I mean even before we start trading we are thinking and calculating our profits which is quite a wrong way of looking at trading. During the first time, we are trading and even for first few months, the focus must be on learning as much as possible because there are countless tools in trading to learn about and even if we know a lot of them, there is no harm in learning about more such tools.

I mean we can trade without knowledge and information about the project but it's more like betting than actually trading.

This is not just for traders alone it's applicable to every form of digital investment which includes:

• software development
• coding
• Computer application generally
• crypto investment

Studying distinguishes different forms of beneficiary from this listed digital investment and more that I might not be chanced to pin point here.

Trading is not an ordinary man's job and you need to be dedicated to it and yes if you are not willing to work for progressive approach in that you should not enter this market as you will not gain anything but will loss will be more.A mix of trading strategies, market research,FA and TA  is required a lot of work is there so if you can handle it all then only enter this market and be serious in game otherwise stay away from it as crypto trading is different and more risky than your other markets so you must have knowledge of what you are doing.

Our readers digest is very important, you can't just trade without having enough knowledge on what you're about to do. The money you had with you is your asset, but you can't grow it by just doing trading cryptocurrency similar to gambling. Once you pick some potential coins, you must determine the capabilities of it before you're going to entrust your future profit with it. Trading is all about emotions, in order to become successful you should learn everything from scratch.

Lots of trial and error which would basically means or connects out;

1. Funds
2. Effort
3. Resources needed
4. Researching up things
5. Experience on different scale
6. Fundamentals

and lots of more.

You should really be keen on finding and learn up these things to make yourself sustainable.

Trading is actually a long process of learning and it needs patience and eagerness to learn continuously. It's fine to commit mistakes in the beginning because that's part of learning but we shouldn't trade without enough knowledge at least about the basics of technical analysis. Trading isn't a form of gambling and it needs focus and complete understanding.

Absoultely right, because smart trading has 100% depends on research. One should know about the coins and get their analysis through reading in different websites and search for it. To get to the coin actual price then only he can get a profit.

News really determines market movements, indeed news is the main consideration in trading. for example when the token will be listed on binance for example, of course the price will increase, so we can buy it when the price is still low, or maybe there is global news, like the Chinese government yesterday, of course it can affect the market

Its useless though, if you make technical but you're not updated to some news about the situation of the market. Because news nowadays is so mean in the market thats why we need to keep reading and seeking for a news that can give us information before making technical analysis, which is to assure everything is accurate and you know or you have a clue how market will react.. Because that's how useful the news to some traders nowadays especially on this situation.

You will pick up a thing or two while reading. Though we say, experience is the best teacher but sometimes reading will help us understand the situation that we are in. Most of what we are experiencing in trading is not the first, probably a lot more traders already had the same experience, and so they can give you options on what you can possibly do to get ahead of the game. It is not bad if we are following some techniques, in that way, we will know if it is effective on our side or not. You can always change your strategy if it doesn't suit you. At least you know which ones will work to your advantage.

Im always that mindful about real experience rather than on reading books or reading up theories but doesnt mean that they are worthless because they wont be created on the first place
if those things arent that relevant.It is just depending on someone on how they do gain up their knowledge into different sort of things neither in terms of reading books or other references
or would directly involve with real experience for them to learn up directly.There are various ways its up to someone on how they would gonna deal with it.

You're right, studying and improving is much needed in any specialty type role, including trading, and I find that reading is not the only way to get yourself up to speed with new methods and techniques audio books, tutorials and videos are equally important and relevant material.

Though, for sure keeping up with your day to day investments and trading does require the you to learn from time to time but I always see this as personal development and growth, and when you get to it you may even find it enjoyable

Once motivated, being able to explore and learn something new every week is relaxing. Many recommend reading a book to gasps new challenge and some discover something in themselves while reading. We all have different activities that can help to improve ourselves but reading is a must since researching and studying is needed in trading.

I used to go to a psychologist 10 years ago, it was for about 2 years. The best advice I got from her was to reflect on myself and how I feel at least once a week, just sit down, doesn't matter how long it takes but simply just talk to yourself, talk about how you are feeling talk about the first thing that comes to your mind, just imagine you are sitting in front of you and chat with yourself, you will realize how great it will feel eventually and ever since then I do that.

This is same level of advice, spend 8 hours every week to improve yourself, this could be about trading but if you do not want to do it for trading, then study history, or read a book, or do whatever that will improve you, it is really good advice. So far I have unintentionally done this since I can remember, not because I knew this advice but because I love to learn new things, so I spend sundays on learning new things, each week is a new topic and I really love it.

Even you don't analyze, bear market will exist and you tend to worry in times of no assurance because of unpredictability of cryptocurrency market. Growth of cryptocurrency affects our daily living, specially if your income relies on it. It's very hard to handle, and you can't afford to lose bigger amount in order to keep profit sustain in the long periods of time.

Well said because if you just get lazy and treat your altcoins like bitcoin, one day you'll wake up your holdings has no value anymore because the devs decided to announce a swap for a different blockchain. It happened to me one time and I just learn from that mistake, the lesser the coins we hold, the easier we monitor it, it's a smart way of investment IMO.

I have a slightly different perception of this idea of learning everything ourselves. Look we all are good at something but we cannot be good at everything. If you are trading for instance and new to the market then if you spend all the time learning things yourself, you might end up wasting 5-10 years and the market might have moved ahead by that time. It's always better to learn from others who are experts of the field and move on.

It's similar to why people prefer a light bitcoin wallet over a core wallet because while the core one is much better, it takes a long time to synchronize all the blocks and data from starting. Isn't it a smarter idea to just start from the current block and move forward learning new techniques because to learn the past, you have the best guides and videos in the market.

The problem with that is the fact that they may hurt the other people as well. Going with your analogy I can say that I could be the best driver in the world, I could be Lewis Hamilton but if someone else crashes into me then I am still in a car accident. So that means it doesn't matter how good you are, because if you are bad then you are hurting not just yourself but to everyone around you and that is the problem with trading as well.

Individually it is not possible for people to hurt others to be honest, but when you have thousands upon thousands of people trading badly then the price goes opposite of where it should, charts says it should go down and then some bad traders come up and do something wrong and end up losing money, they end up buying something that should go down, and then when they lose money they go around and say that bitcoin is a "scam", so that is why it is still dangerous for good traders even if they know what they are doing, since bad traders could crash into them as well.

I agree with your statement, because cryptocurrency technologies are growing every day, and the mechanics of trading are also changing, if you do not read and analyze the market, you risk losing everything.
Every day a lot of events happen in the world, all this information dramatically affects the approach of a cryptocurrency trader.

In trading you must be able to understand and be able to interpret the casting of the candles and the graphs to better have an understanding on what you supposed to do either adjustments or pull outs on your trading strategy. Trading is not that easy as you think it is all due because interpreting the presented data is already a challenging part most specially in the case of crypto market that it is highly volatile wherein you needed helpful tools like technical analysis or even bots if you wanted to. Reading and interpreting is a needed skill in trading so you can be able to identify what actions must be done to turn odds into your favor to prevent too much loss and make a pull back of turning it into gains.

It is not just about reading, you can be a trader and a reader, but it so happens that you are reading the wrong thing and absorbing information that though not completely useless is not useful in trading, imagine i am a trader that reads a lot but it is mostly the romantic novels.

I believe the proper narrative should be "if you aren't keen on information, you shouldn't be trading" because reading the right materials, listening to right channels and news outlets and even discussions and conversations with the right people on the subject of trading are all useful ways of staying informed which is very necessary in trading.

As much as there is some truth in the op I disagree with some of the information included.
You don't really need news or indicators to know how to trade, most of my friends including myself prefer to trade using a naked chart and I find myself making a bit of steady profit because you also need to apply proper risk management which most traders lack.

Setting yourself a great path to keep following constantly is the biggest thing. If you can do that, if you can get yourself a good system that should work in theory (and you can test it to see if it really works) that means you could end up actually profiting a ton of money from it. After you have your system, the "reading" part becomes the thing that you should do to see if your system requires you to do anything, so let's say when X happens you buy, then you should keep reading the market to see if X happened or not, and that requires constant checking and it will require you to spend some time.

I personally believe that there is nothing that could be more important than reading and seeing where the market situation is, it takes time to learn how to read as well, you literally need to read in order to learn how to read the market as well.

A very valid point I have to agree, Trading requires constant learning, it's just like any other business,  you are operating in a very dynamic environment where variables around you are changing every day, if you are able to make a habit of continuous learning about these variables, only then you can actually win at trading, otherwise, even a monkey would be able to make excellent returns in a bull run market because the price of almost each and everything is shooting up. I feel it's not just about new indicators and new strategies, it's also about learning from your experiences, especially the losses that you made. These could be really helpful in tweaking your strategies.

Back when I was day trading, I only watched videos in Youtube on how to do it. I gotta admit that I did not really earn anything because I was still newbie, but that alone helped me how to use indicators like Bollinger band and the RSI.

As you mentioned that I can relate, I did not read but I was informed to how to use it. Most likely these mediums of learning are personal preference, but sometimes it is situational like in mine where I won't be able to know which to click in Binance to let me do a buy/sell order.

Which is why you don't basically have to read but you need to stay informed. Information can be gotten by various means these days which reading is just one of them. You can learn through listening to audios or watching of videos which focus in those area you intend getting more knowledge about in regards to trading. When you put it in the way the title is written, it seems like trading has a direct relationship to reading and if you're not reading then you can't be good at trading but that's not true.

If the reading has to do with charts analysis then your statement can be justifiable but when it involves reading of trading material then that's not true anymore. Although this isn't a discouragement to those picking interest in reading trading material but since we're humans and not everyone has the same learning capabilities then it's quite important to note that learning can be achieved in different methods that doesn't have to do with reading.

Trading is simply buying and selling assets so it is very important to know about what you are buying and selling or else you are gambling not trading as you said. But different kind of trading needs different strategies so being a trader is not so simple as other think, it needs lot of efforts to analyse the market then only we can make decisions about buying and selling along with a bit of luck as well.

I agree and I think that this is just half the battle because you also have the wisdom and experience besides the knowledge and we have to include common sense because some people nowadays lack these basic skill set. If you are knowledgeable you aren't yet good to go, experience can help you do decisions much faster compared to just being knowledgeable.

Giving 8 hours for self-realization is a very wise idea actually and something I might consider giving myself because, during all these rush times in life, I feel we have forgotten how to reflect on ourselves and we might know what's going around the globe but we don't know what we are going through.

In trading too just like you and OP said, mastering the art is only possible if you give time and learn about things instead of just focusing on making money. It's often said that once you follow your dreams without actually thinking of making money with them, the money will follow you. Consider Elon for example, the guy wasn't fazed by the fact that he is now the richest guy in the world because he never worked for money, it's just a bi-product of his actions chasing his dreams.

Trading is not just only that we are using money alone but also, we are investing knowledge and time. People who had come to trading must willing to spend more time on reading and do help to improve their knowledge and skill, not getting busy to calculate how much they earn. This is gonna be more technical and those who want success must endure learning how it works as there are no shortcuts in trading. And everyone should have to know their responsibility.

And if you are investing your funds to alts, you should keep up with the updates of those alts - developments or follow their social media channels. You can get a hint or insights what's happening with their platform. Because if you feel they are not active anymore and about to abandon, better sell your coins while it has still value. Don't wait too long because you may end up bag holder of worthless coins.

With all our differences, it is a need to trust ourselves than the other when making a decision for our money. Make help to prepare ourselves for a better result from trading it is because we work on it. Reading, searching, watching tutorials, and etc...we are doing this for one reason and that is we wanted to reach our goal. That only if we are too lazy to do this, I could say that we better not to try as we are going to nowhere.

^ Because most of them thinking that trading is just an easy way of making money but in fact, that is not. Those kinds of people should not be in trading because they really don't know technically how trading worked for. OP here has a point because if you are a good trader and if you think you will pursue yourself on this as your profession, you should have further research first. Because there is no trial and error in trading that you can simply undo when you make mistakes, if you executed a wrong decision, that should a loss point on your side.

It's a must for everyone to do your own research before you jump inside to whatever investment you want to engaged yourself.

it helps a lot to maintain your chances to earn and survive within the business you choose, never ever to rely with someone since

the level of your knowledge is not the same, you can use it as basis but not an assurance that it will bring the same outcome.

That is why there traders that even though they have been in the industry for quite some time now, doesn’t really understand the market, how things really are working here and be able to make the tight decisions. I think that traders who do not study and have no intention of studying it are simply lazy and ignorant for the education. As the saying goes, if there is a will, there is a way, people who do not want to learn, will not do so.

Exactly, those people do not understand that even if they are performing the same activity the risks they are taking are completely different, it is like driving a car, the ones that took a course and took the activity seriously can drive safely and will rarely suffer a car accident, while the one that just saw that person driving and wanted to do the same will take all kind of risks and sooner or later it will be in a huge accident, and this same kind of thinking applies to trading as well.

Time and time again, we see people alwayys asking for advice but what they don't understand is that they don't even have the knowledge first and foremost about trading and they want to just jump right in. Newbies should read and DYOR before anything else when they want to make a career out of trading, you won't get anywhere close to profit if you don't have the knowledge and even that is just part of being a good trader.

Trust me,,, people sell much more than 1000 BTC every day on a single exchange. Nobody who was that amount of Bitcoin deposits it on an exchange and sells it all, he would suffer from so much slippage he would probably get 20% less than what it was worth, and then again these days that 1k BTC is like a drop in the ocean.

Forget China, they are the regular dump cycle masters:)

Theory plus application is the best thing to do in order to verify if that really works and it is effective. It seems to be useless to keep reading without even using it in real life. But if we need to familiarize the market so well, experience is needed most and from that, we also learn more than of what we got from reading alone.

More experience = more learnings. However, we can't also stop reading books or whatever it is as it gives additional knowledge.

Theory is helpful and at least it could really give out idea and would add up on knowledge but the real deal here is with real experience because you would learn something

which cant really be read up on books but only can be gained through experience and I can really attest to that and for sure others will say the same thing too.

Experience is the best teacher and you would only gain up knowledge if you do deal with that.

Indeed, reading too much can cause us more stress on our trading desires. Much better if we just ride on with the system and take it easy for good to avoid more pressures. Making profit will be an easy goals, but if we apply our knowledge based how the reality of the market works, that's beyond theoretical aspects.

there are always massive sales that result in price drops, when prices are high, the Chinese government does FUD news which affects bitcoin sales, so the price goes down. on the other hand, they may feel enough to take a profit, so a big sale occurs. whales are like that, they make pump news and after they are full the price is reversed so there is a big market movement

That's not true, I mean yes that's the basic which is buying low and selling high but that can only get you so far because there's a big volatility that you have to consider and you don't really want to lose your money quickly because of your cockiness also I don't think that someone is really going to be that good at first try in trading because there are a lot of analysis involved.

It is clear that when they sell, the price falls) But in any case, there is some reason that causes mass sales of coins. It is quite possible that someone decided to buy a yacht and sold 1000 BTC at the market price, which led to panic sales. The second option is when whales use negative news to lower the price of the coin.
And when the Chinese government becomes loyal to the miners again, this will certainly lead to a short-term increase in the price of the coin.

Trade will usually depend on your skills and experience trading is never possible without reading about trade. When you get a trade in your trading system you have the rules to trade in your trading system if you read the rules then you trade according to those rules then you will see that you can make more profit in the market than before. Being low so before you have to take a trade, starting from market observation and judging by the types of analysis you have because this is the right method that you have to follow all the time.

If you can't spend more time in trading, it gonna be hard to fully understand the way it works. Even though we keep on reading but if we can't apply them, that seems useless at all. The reality about trading is a need more on market exposure and experience because from that event, we learn more compared to just read and search.

Traders had success because they dedicate their life and time to trading, their minds are focus on one thing that is why they can easily understand and adjust to every situation unlike what we mostly do.

No, the market does not work that way my friend:) If more people sell than buy,,, this is when the market goes down, and the opposite is true.

China ban moved the industry OUT, that is all. Once the miners set up elsewhere, and the Chinese government realizes all the income they have lost from possible tax revenue and electricity charges, then they might change their mind.

This is the most common situation, when we see a dump or a pump, we start looking for information to find out what it is related to. But we get such information after the market has reacted to the event, and we would like to know in advance about the upcoming pumping/dump in order to make the right decision when opening an order.

right, trading is not gambling, where we have an analysis of both targets and risks, so we don't spend money at one time, because we know tomorrow there is still an opportunity, so if we lose today, then what we need to do is refer and start analyzing come back for profit

Changes and upgrades in mentality, knowledge & even life are necessary to keep up with the pace the world is moving. If someone is kept in isolation for 10 years and then asked to explore the world, he might feel lost given how rapidly things have changed. We are humans evolve quickly and the ones who learn things faster than others are always one step ahead of them.

As a trader it is important to utilize the new and improved tools and guides in the market. The same strategy cannot work lifetime because remember in trading, if you are earning, there is surely someone somewhere in the world who is losing and is working hard to beat you. By making subtle but constant changes you remain one step ahead of others and survive at this cutthroat pace we are going right now.

What else do I do with my time if I can't devote atleast 8hours every week to refresh my memories on what it takes to keep the profit flowing knowing fully well that different approach works on different market conditions. Some times scalping might be the best and in some cases positional trading might be the best. But in all the sole aim is to make profit I total agree with you @Op we need to read and re-read to gain full mastery

Why not while reading, start trading small? Just use small funds that you can very well afford to lose.
The actual experience is sometimes very different from what you read.
Crypto trading is a very high risk activity to get involved with, so you really need to prepare yourself here, mentally, emotionally, financially.
Because at the end of the day, it is your money at risk, so all the people that serve as advisors won't take care of your business.

That's from this kind we will  know if trading is really for us since not everyone is capable doing a trade especially if they cannot handle their emotions as they only have limited capital to spend on their trades. Many fuds are now destroying the market condition  so if we really  don't research about the possible out come and just  trade out of nowhere  then possibly we will lose and turn angry about our result in a day. Maybe before going to trade the one needed to learn by traders is how they can handle the stress of the market before they proceed.

Well, news has a huge market influence, and we have to include this when making decisions. But of course, we need to analyze the situation carefully seems some news is created to ruin the market (fake news). But the problem if you are an emotional trader, that might catch your attention and usually get panic.
A trader must have to know how to control this thing as this commonly brings losses. And if we don't learn how to control this, I'm sure that we can never be succeed.

Not all the time but most likely this is really the case been happening where market is highly reactive to news this is why people are really very keen on looking for these kind of information
specially on upcoming events but most of the time where news pops out from nowhere leaving lots of questions in mind on what the heck happened?
You should really be mindful on times like these because market is highly reactive to market neither it would go up or down depending on the sentiment
if its positive or negative, this is why you should really be watching out and be reactive.

It is being aid that until when dome one knows the basic rules behind trade one will only be gambling.

However, some knows how to analyse the market technically but quite lazy to carry out their self operations.

Further stress more, one can as well run a fundamental analysis by listening, watching or reading fundamental news but instead they decided to get misleaded by one influencers.

#DYOR goes a long way in trader's life!.

Unfortunately, most of the traders that you will see are just here to gamble. They won't "read" anything or try to understand. All they know is that crypto currencies will give them profit. They think it's very simple to buy low and sell high. Sadly they are the ones that loses everything  and then they start crying that crypto currencies are all scam. While some at least learn from those mistakes and do better in the future, rest of them just gives up, regrets and tries to stop others from trading.

Well, that was sound good advice.
That is why we should also always have updated the news because they have an effect on the market price, it could be can create small drops and it can cause losses while you are in trading. Anticipation in all matters comes or that possible consequences that you will perhaps encounter while trading is the best move as a trader. Trading is not just easy making money and not all the time we will always make a profit, there are sometimes that we will also experience losses and we should accept the possible outcome either positive or negative result.

Not sure how you came to the conclusion that news doesn't affect the crypto market. I mean when the news came out that China has banned the crypto mining, there was utter chaos within the crypto holders and traders while the price also went down. When the announcement and news came out that Tesla no longer accepts Bitcoin as payment, the price was pummeled down badly, something we are still recovering from.

I actually think that news and small things affect the crypto market more than they affect the stocks market because the rumor spread through the community like fire and people believe each other even without verifying the news because bitcoin isn't centralized, there is no source to confirm the news either unlike the stocks market where you may have the ability to verify a rumor or news being spread.

It's a must that you learn how to use all those news that have impacts inside the market that we are investing with, most of the time
there's good reflections within the news.

Knowing what particular effect that those news brings to entire industry will lead you to anticipate and make a better call for your
investment.

OP is very right, trading is not something you learn once and then become good at it and do it forever, it just not the way it works. I am telling you there could be someone who studied trading for 50 years and then stop learning about it and then in 20 years he will be purely losing without earning (of course his age could be very high but you get the point).

So long story short it doesn't matter how long you have been a trader, you could be trading for a long time but if you stop learning then you stop earning. Warren Buffet himself once said that he keeps learning new ways to find undervalued stocks all the time, newer and better ways, even upgraded his PC recently at age 90 just to check the stocks he wants to check. If Warren Buffet can accept that after nearly 70 years of being the best investor in the world he could still learn more about how to trade, then you shouldn't feel any different.

I honestly don't see it that way, no. At least not for high-frequency traders.
When someone trades on very small time frames (1h - 24h), then indicators play a much bigger role than, for example, the market sentiment or the publication of news (Apple buys BTC, China bans Bitcoin once again, ...). These usually cause a very high deflection in the chart, but is for small time windows practically hardly relevant and must almost be stamped as luck or bad luck if one of your trades meets such a news.

Yup you are hundred percent right about this. A trader has to be someone that is always updated on what’s happening in the market. If you’re not updated with what’s happening, then what you’re doing should be considered as gambling, because you’re just trying out your luck. Especially in a market like this where there is volatility, you should know what you’re doing.

I have seen people complain that technical analysis is not working out for them when it comes to trading cryptocurrency, ad because of that they feel that it’s worthless, which is not true. When trading cryptocurrency, we need to have a combination of technical analysis and fundamental analysis to go with. That way you will be ready for whatever is coming.

Apart from positive and negative news, several factor can affect price, current political condition can also affect price. When we have become a trader, we also have to be prepared with all condition that will affect the price so that we have anticipation when the price drops -10% or more. The best quote here is that we play between price fluctuation and it is our responsibility to be able to anticipate the worst condition.

Unfortunately, traders do not always get what they want from trading, and this is primarily due to the fact that some traders ignore information about changes in the markets. But this is not the biggest problem, for successful trading you need to do more than just study the news and follow the charts, which is very well shown in the movie "Billions". Although this is a film, I think its information was taken just from the mother-in-law situation in the markets. In simple words, the market is also very often not fair games and you can easily become a victim if you are not aware of them. In general, it all comes down to a game and very often this game goes without rules.

It is a way to think that if you want to become a trader, then you must have proved it otherwise, it was just a dream.
Trading requires not only TA and FA, it sometimes needs your common sense.

Things that we can't deny that trading is too risky. You can make TA and FA as requirements but we never expect that it everything will be resulting good. Because trading is just like a game, sometimes you lose and sometimes you win even how good you are. Honestly, not all the time we are lucky.

You seem to be a professional trader! I'm curious to know since when have you been involved in the crypto market?
I don't trade often, but I always keep an eye on the market and wait for the opportunity to buy at a good price. I think that a trade should manage capital in the most effective way, of course risks will always occur. So no one dares to claim to be a good trader.

After the decision of the Chinese government to ban mining and cryptocurrency was made public, the market immediately reacted to it by lowering the price. This suggests that any news, positive or negative, affects the price of the cryptocurrency and you can expect a pump or dump accordingly.

absolutely right. Therefore traders must have a lot of efforts and patience to achieve what their goals in trading., because isn't about what knowledge you get from it, wherein it's about being aware of what's happening in the market to protect your money in different situations.. News is more accurate when trading and i agree with that because that's the only main reason why it's so affected nowadays.

Most people find trading easy, because they think trading is just buying coins at low prices and selling them when prices go up. Even though trading is
quite complicated, there are many factors that make people able to make a profit through trading. I agree that it is not enough just to rely on
knowledge, therefore it takes a lot of study and practice to become a successful trader. And always start trading from small capital, because if
we experience a loss, think of it as a learning fee. Because from the losses we experience, we can learn that there are some mistakes that we must
avoid in the future. It takes a long process to become a successful trader, and able to generate large profits through trading.

1. If you are full time trader yes. But full time traders in stocks and shares, where you handle commissions and budgets and portfolios.
2. Why I say not for crypto? Because news does not affect it like stocks do. The highs and lows of crypto markets seem to be affected by events more than news (like whales selling, regulations banning stuff). News like central banks decisions and financial crashes do not seem to hit crypto until after a while.

Totally right, without knowledge and wisdom in trading is like going to a war with only a knife, you can get lucky that you will survive but the chances are really slim. That's why I am not yet doing any trading because I haven't read enough to do an actual trading. To every aspiring trader, you might want to take this advice to heart because it will save you from lots of headaches and big losses but there's more component that you have to at least fulfill because knowledge alone isn't going to be enough.

Of course, trading needs a lot of knowledge and skills development. A successful trader is the one who constantly learns and develops his experiences through reading and through his experiences as well. It is not enough to learn one approach to trading, but you have to change your strategy always according to the market change, you have to stop sometimes to review your approach and start Again, because continuing on the same wrong approach will inevitably lead to bankruptcy.
Mistakes are sometimes the biggest teacher so we have to learn from our mistakes and not keep making them. Some people keep making mistakes because they don't realize that they are wrong, but rather they insist on their mistakes and this is the biggest flaw in trading, you have to admit your mistake first so that you can overcome it.

Yes, every trader will have their loss someday because they can not always analyze the market correctly. But a good trader will always learn from their mistake and try to improve their skills day by day. They know that if they lose, they forget to do something and search for a better way to analyze. If we can make a massive profit in a single trade, maybe we need to take a break after that because that can attract us to still trading and make a wrong analysis.

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.