Topic: Ignorance in trading - page 2. (Read 285 times)
Too much hope that it will continously rise I guess. Some can't do the exit because its actually the hardest to time. But if you feel like there is no need for the perfect timing, you just exit a trade, you can exit whenever you like as long as you profit.
Over analyzing the chart will make a trader stop for awhile and think of all posibilities but never get to execute anything. Paralysis by analysis so they call.
Normally in Trading those who know do not speak, and those who speak do not know. This is extremely useful because it shows you all the things you need to avoid before reaching success. Any layman who looks at a graph concludes that trading has to be considerably easy, and that is part of the attraction. At the end of the day, anyone can look at a graph and clearly see entry and exit points. However, it is much harder to do it in real time. There is a tendency to want to buy at the lowest and never leave the trade even if it drops further. If that happens, a rookie will continue the trade with the hope that it will rise again, it is just an example of how the lack of education and discipline plunges most market operators.
This is the problem lots of new traders often face, they don't know cryptocurrency trading is beyond studying market graphs and that point is validated by how badly fprex traders perform when they try trading cryptos. The market is currently highly unpredictable and thats the reason behind the failure of TA draft out by even the so called expert. Proper understanding of the market before venturing into it is the key to success in this space
With the analysis, the issue that is important is being able to control emotion. If a graph is plotted by someone outside who is not trading, it is easier to see the buy and exit but while on the trade, that exit is still there but circumstances in the market might might make it a difficult situation to exit. That is saying, it is different to trade and to just analyse.
The problem is most of traders are focusing first to put their money in the exchange than to invest it first in their knowledge, they are not aware that being ignorance in trading can make them fail. It is better if we have knowledge first before we put money in an exchange, knowledge is power and we can use it to make money in the volatile market. If we will not invest in our knowledge, for sure we will suffer to big losses.
Many of us have been started with ignorance in trading technics because none of the investors are not passing by the newbie as a low ranking and besides, one of the most preparable traders is usually begun with a little position with experience some pain about cryptocurrency trading industry actually, it is better that you came from the poor situation of life before you rich meaning if there is a possibility to have a problem it would be easy to you to overcome, in other words, nothing is impossible to you.
In trading you need to learn on your own, it doesn't matter if you are a newbie or not.
All of us here started as newbie, we only improve because we are open for correcting our mistakes and we aim to improve.
The time will come that we will eventually be more consistent and that's the our biggest achievement but we will never reach at this point if we give up when we made a lot of mistakes when we are still a newbie.
newbie will usually lose in trading, that's the reality, but it's never the end of the journey if they are open to learn and improve.
All of us here started as newbie, we only improve because we are open for correcting our mistakes and we aim to improve.
The time will come that we will eventually be more consistent and that's the our biggest achievement but we will never reach at this point if we give up when we made a lot of mistakes when we are still a newbie.
newbie will usually lose in trading, that's the reality, but it's never the end of the journey if they are open to learn and improve.
I agree with you, the outside world or newbies do think trading of cryptocurrency is easy after hearing some success stories of how someone made millions of dollars through cryptocurrency trading and as such do ventures into trading without proper understanding of the market strategies and in turn end up losing their investments. Thing about trading is that one being successful with it is never guarantee as we've even even the so called expert gotten REKK due to the unpredictable nature of the market
Normally in Trading those who know do not speak, and those who speak do not know. This is extremely useful because it shows you all the things you need to avoid before reaching success. Any layman who looks at a graph concludes that trading has to be considerably easy, and that is part of the attraction. At the end of the day, anyone can look at a graph and clearly see entry and exit points. However, it is much harder to do it in real time. There is a tendency to want to buy at the lowest and never leave the trade even if it drops further. If that happens, a rookie will continue the trade with the hope that it will rise again, it is just an example of how the lack of education and discipline plunges most market operators.
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