Ignorance in trading | Bitcointalksearch.org

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Quote from: mersal on April 23, 2020, 08:25:17 AM

Quote from: khansindid on April 22, 2020, 01:36:18 AM

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.

Trading with 100% profit or success rate is not possible for anyone so what you actually do is to minimize the risks while entering into trade orders.Don't say that people who trade for lower price then their entry as rookie, they wanted to reduce the risk of losing everything so stop los come into action.

Even the best trader never makes mistakes, so all trades cannot be closed with profit. But there are many who, after receiving a loss on a transaction, again receive a loss in the next transaction. It's like when we lose in a casino, we rush to play again to recoup the loss. So, both in the casino and in the crypt, you need to avoid such mistakes.

el kaka22

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Those who know speak as well, this is a whole forum of people that knows what is right and what is wrong unfortunately what is right does not really stay the same which means people who know can be wrong sometimes as well.

So, we can't really expect everyone to be right at all times and just because they are wrong we can't call them they don't know neither, which means there are people out there who are wrong because they barely know anything about this space at all, yet there are also people who are usually right and knows things but wrong this time around, which is why we are having hard time finding who to listen to, because they don't knows and the knows all mix together at all times and make it hard for us to realize which one is which one of them.

Kasabus

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Quote from: mersal on April 23, 2020, 08:25:17 AM

Quote from: khansindid on April 22, 2020, 01:36:18 AM

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.

Trading with 100% profit or success rate is not possible for anyone so what you actually do is to minimize the risks while entering into trade orders.Don't say that people who trade for lower price then their entry as rookie, they wanted to reduce the risk of losing everything so stop los come into action.

Traders who are aware how to handle risk management are usually those who lasts long in trading but for those new in trading who only trade thinking it can guarantee huge amount of profits will only live short term in trading and then vanished. Ignorance in trading has always its negative effects on the part of the trader.

Ridwan Fauzi

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When I was new trader I only use a strategy supply and demand to make a decision, most of my trader only choose trading spot.

Through supply and demand we will see the market go, we just need to look how many people who put buy and sell their amount because it will give a chance to the market.

Indeed, seeing a graph/candle is hard to do. Until now, I'm still learning how it work and matching it with some strategy like fib and MA. I think supply and demand strategy is the best way for some newbies and for those who just have an ignorance strategy.

mersal

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Quote from: khansindid on April 22, 2020, 01:36:18 AM

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.

Trading with 100% profit or success rate is not possible for anyone so what you actually do is to minimize the risks while entering into trade orders.Don't say that people who trade for lower price then their entry as rookie, they wanted to reduce the risk of losing everything so stop los come into action.

DevilSlayer

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Quote from: hugeblack on April 23, 2020, 07:59:46 AM

In addition to weak educational concepts, there are some reasons that make many the most important of them think about buying low and selling high and not preparing a long-term plan, not accepting defeat, fear of losing capital and greed when prices rise.
You must be more greedy when the price goes down and vice versa, but all these emotions must be followed by wisdom and knowledge.

Some of traders are not even financial literate and that is why they cannot handle the high risks when they make investment in trading. Focusing to improve our financial literacy can help us to become a trader, it takes a proper education to have right information that we can use to make money in trading.
Most of traders are afraid to make mistakes and they do not consider that mistakes are part of the process so they are always playing safe that makes them a trader that doesn't have any form of improvement because they are afraid to make a mistakes that makes them a bad trader.

Negotiation

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There will be a loss in doing business In that case do not be disappointed We must always think positively and avoid greed Greed always leads to loss Those who are more greedy are the ones who suffer the most. In business ignorance must be eradicated and only ignorant people can achieve success They try to learn better first because they are ignorant and then trade The real losers are the real traders who invest in all kinds of currencies as they come to make more profit.

hugeblack

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In addition to weak educational concepts, there are some reasons that make many the most important of them think about buying low and selling high and not preparing a long-term plan, not accepting defeat, fear of losing capital and greed when prices rise.
You must be more greedy when the price goes down and vice versa, but all these emotions must be followed by wisdom and knowledge.

Oasisman

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Quote from: jhonjhon on April 23, 2020, 05:53:35 AM

Maybe they are wrong about their thinking toward trading and how it works but we can blame people (ignorant) to push themselves in this because they want also to learn. Should we think that it is wrong? True experience an ignorant people could learn much because they learn from mistakes and truly dealing it to make right. They don't stop because they suffer losses but instead, they'll keep going because of their hopes and faith in crypto that someday they will finally exceed to the limits.

Most people who have lost and quit was the people who thinks trading in cryptocurrency could make them rich over night. I know some people in my place who thinks trading is just simply " buy low and sell high". They are now no where to be found, lost almost a thousand dollars and that's a big amount already.
I guess that's the kind of "thinking towards trading" that you're pertaining to.
Experience will narrow down the possibility of your lossing trade, thus experience needs patience.

cytpoway121

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Quote from: khansindid on April 22, 2020, 01:36:18 AM

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.

You cannot term that refusal to speak about trading makes it ignorance.
There are several ways to learn trading; either by attending webinars, youtube trainings, personal trainings, and even pdf files as regards TA/FA.

Even if it is to buy the lowest, and place a high sell order; it cannot be ignorance.
Always do your own research, always plan, prepare, be patient and trading will work for you.

jhonjhon

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Maybe they are wrong about their thinking toward trading and how it works but we can blame people (ignorant) to push themselves in this because they want also to learn. Should we think that it is wrong? True experience an ignorant people could learn much because they learn from mistakes and truly dealing it to make right. They don't stop because they suffer losses but instead, they'll keep going because of their hopes and faith in crypto that someday they will finally exceed to the limits.

jargom

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I still don'r truly understand how does it work I'm just buy when the price is low and sell when it's when it's high

Latviand

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Quote from: stomachgrowls on April 22, 2020, 02:18:14 PM

Quote from: khansindid on April 22, 2020, 01:36:18 AM

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.

You cant really conclude most of the time yet even pros do really come into this kind of situation where they are on the verge between selling or holding on a specific situation because not all are really perfect when it comes to emotion handling specially if you have staked bigger.Im not a pro yet but i do actually have the idea and knowledge but the main opponent here is your emotion.Even you do know on what to do
but when changes of situation then thats the time it would trigger out specially when you are already making decisions either you would cut loss or would just decide to hang up.

Trading is hard and there are lots of factors before you do able to grasp everything but you should always think that mistakes are inevitable but somewhat can be lessen down.

Being knowledgeable in trading is really important before starting invest on it. I know that beginners need to seek some information first or idea so that they adopt the fundamentals in trading in the market. The problem is that if they engage in trading, they don't practice and apply those skills that they learn so that their growth is really slow.

The reason why people are confident enough with their basic knowledge is that they think it is really effective, you should always practice the knowledge and ideas you got so that when you apply it, you will not have a hard time to get more and more experience to it.

It is applicable no matter how professional or experienced you are in trading, there are still some mistakes that will occur in your trading career that's why you need to take every mistakes as a lesson for you to prevent another losses and mistakes.

Always be careful and never hesitate on keep learning in trading because a good trader will make a huge profit for himself. Patience and self-discipline is also important that's why never trade in a wrong time, learn to make an effective strategy and technical analysis in the market will help.

thebutton

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Quote from: khansindid on April 22, 2020, 01:36:18 AM

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 sounds like people who bought BTC because they heard that a lot of people had been making huge sums of money just by sitting at home or whatever without properly educating themselves first with the risks that it holds. Then they would complain that it is scam or some sort which is their fault in the first place.

I remember a user here on my thread saying that it trading is very easy like you just buy and sell which is quiet misleading in some sense especially if you suggest it to a newbie. It takes time, research and the experience that you will accumulate as you familiarize yourself with the market. The challenge is not on the act of buying and selling but predicting where the price would go whether up or down, green or red. Making yourself up to date with the news circulating around which affects the price movement along with some technical analysis which I don't usually used nor that familiar with it.

maydna

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If we only watch the graph, it will look it easy to get the entry and exit points, but if you apply of what you analyze, sometimes you will feel that is difficult to do because you can make a wrong entry and exit because of the market still running without you know.

There is no other way you can do to get the correct entry and exit from learning more deeper about trading. You need to learn about how to analyze using the indicator, time frame, etc. That will not easy, and that will need time before you understand how to trade with the right. Once you can master one indicator, you will see you have a chance to predicted on the right entry and exit so you can make an order in the right time.

Yes, every people wants to get the low price to buy the coin, but that will not easy if you don't have the skills to determine the right time to buy and sell. And without learning more about trading from many sources, you will not be able to get that time and making the profit.

TitanGEL

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Quote from: KnightElite on April 22, 2020, 09:26:32 AM

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.

Ignorance can make us fail in trading and it is the reason why we should have information about trading. We should first take a baby step especially if we are new in trading, there are newbies who investing very large amount of money in trading at their investment. That is why they get anxiety or even depression whenever they lose the money that they invested. For those people who want to invest in trading, you must only put money that you are willing to risks where if you lose it then it is okay. There are a lot of factors that should be consider, trading psychology and technical analysis is what we should focus.

We should not just buy and pray like everybody is doing. We should buy because we know a setup that have high chance that it will happen.
Ignorance and fear can lead to arrogance, we should not be a trader that have this kind of trait especially if our goal is to become a professional trader someday.

maxreish

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Trading isn't that an easy like others think of. We've been a noob trader when we were a newbie. But ignorance can be changed if a certain trader is determined to acquire success. We can be a good trader with good skills if we tend to have more winnings and profits in trading. The market actually is hard to predict, if we aim for the best trader we set aside ignorance.

CarnagexD

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There are a lot of people think that trading is just basic and you can make a good market profit but just predicting the market price of the coin and it is not all about this because the trading needs to have a lot of knowledge and skills before deep-diving into the world of trading always be aware of the basic concepts on reading the market graph of the coin because most of the time it gives you a hint what your next move if you are going to buy coins or to sell because having mistakes to your trades will cause of holding for a long time and it does no good if you think you are a daily or weekly trader as a good chance it is better to learn more first, also today there are a lot of trading demo practices that encourage their newbies to make some try before entering into the real world of trading.

Quote from: Shallow on April 22, 2020, 03:31:20 PM

Like I always have at the back of my mind, that everything starts with knowledge or rather education, first thing first and that is going for the right education about trading; you can't venture into something you are not good in and expect to perform efficiently. Everyone started somewhere, and it was first as a newbie, and being armed with the right knowledge of trading they grew, no one became perfect in a day. Also, with the market being highly unfriendly, it requires a good level of expertise to trade as the good understanding of the market comes into play.

One of the good solutions is asking other people and learn from the people who already make a lot of trading because most of them have the authentic and more concrete answers to your questions.

Shallow

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Like I always have at the back of my mind, that everything starts with knowledge or rather education, first thing first and that is going for the right education about trading; you can't venture into something you are not good in and expect to perform efficiently. Everyone started somewhere, and it was first as a newbie, and being armed with the right knowledge of trading they grew, no one became perfect in a day. Also, with the market being highly unfriendly, it requires a good level of expertise to trade as the good understanding of the market comes into play.

stomachgrowls

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Quote from: khansindid on April 22, 2020, 01:36:18 AM

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.

You cant really conclude most of the time yet even pros do really come into this kind of situation where they are on the verge between selling or holding on a specific situation because not all are really perfect when it comes to emotion handling specially if you have staked bigger.Im not a pro yet but i do actually have the idea and knowledge but the main opponent here is your emotion.Even you do know on what to do
but when changes of situation then thats the time it would trigger out specially when you are already making decisions either you would cut loss or would just decide to hang up.

Trading is hard and there are lots of factors before you do able to grasp everything but you should always think that mistakes are inevitable but somewhat can be lessen down.

fudster

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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.

htsy585

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Quote from: khansindid on April 22, 2020, 01:36:18 AM

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

gantez

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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.

KnightElite

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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.

CHENIEN

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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.

Vaculin

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Winding down.

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.

rathaha10

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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

khansindid

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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.

Topic: Ignorance in trading (Read 285 times)