Topic: Is sharing insights the key to better trading? - page 4. (Read 624 times)

There's a lot of advantage being a member of the community that's half people would discuss trading options, strategy and tips. It can help but it can also be confusing because of the many opinions that you can get from people when you ask a simple question or ask people to share their approach.

Having a few people who you exchange insight is necessary, It could be a mentor or a close friend even family who you are sure of their trading prowess. These people can help keep you going in times when you feel like quitting trading, or help point out mistakes and flaws in your strategy.

Indeed, insight will be good if you use the right analysis for trading, but if the person providing the insight looks professional, even if you use insight, don't use it 100%, still do your own research and when you are sure, you can take steps to set buy and cell set, your own research will give you knowledge and insight just for information

Whats BGB? Is this is some sort of subtle shill about it? Well I assume this isnt connected or related to your mentioned exxhanges. Trading is different from investment where you can earn on short period of time. Likewise most investment gets appreciated on the long term or if the price is extremely high already.

Using insights of public opinion is the most ridiculous idea not because the opinion you will get is bad rather you will just confused on who to follow especially if all of them provide supporting details for their opinion while the suggestion is opposite to each other.

It’s better to analyze on your own without relying to others because this way you always follow what you really want based on the strategy you are using. All traders have different strategies and indicators which means there’s always a time that each once has different opinions that will make you confused. Binance and Bitget feed is home of spammers and scammers that just posting for the sake of publicity. I doubt that you can get quality suggestions on that space since pro traders don’t have time to chitchat online.

A trader should first study the market as a trainee to understand ups and downs of the market, volatility of the market, pumps and dumps of the market, and he/she should gather as much information as possible by research about the coin/stock/currency he/she is going to trade.

Once someone's mind if fully alert and that trader understands the market fully then he/she should begin real time trading. Many people suggest demo trading at first but I'm highly against it, in demo trading we don't actually open positions with our own money and thus we are playing with virtual money only.

When we open positions with our own money then we get our emotions attached with those positions, and a demo trader will end up losing a lot when he opens positions with real money. After a fixed timeframe one learns a lot about a trading strategy if he/she gives proper time to trading. Once someone masters a strategy then that trader gets better and better overtime.

I simply suggest you to learn basic technical indicators at first and study charts at different timeframes. Try to observe the movements of the market. You should mainly focus on a single asset only, if you're into Bitcoin trading then focus on Bitcoin to USDT and nothing else. Read the charts while indicators are applied, you'll understand a lot about the asset and then you'll surely begin to execute some good trades.

If there's a way to learn and earn at the same time, of course it's good one since it's free money after all.
The idea of sharing insights is fine, as long as you are talking to someone who can give you the right information and not just to tell you what to buy. There's a risk here if you will just follow their suggestions or insights, to avoid being trap into any project its advisable to do your own research as well and with this, you can learn faster.

You know, trading strategies are the backbone of how any trader approaches the market. Whether you're into day trading or future trading, a good strategy gives you structure and a framework to make informed decisions.

Lately, I've been seeing the importance of community and shared knowledge around trading come up a lot. Sometimes the best insights come from discussing charts, setups, and market sentiment with other traders. Since I'm posting this, I'm sure you guys will have some tips to share that I can use to trade more wisely.

I also take some insights from Bitget Insights and Binance Feed. Besides being great resources, I've noticed I'm earning a bit of $BGB for checking things out and interacting on the former exchange's Insights. It's a nice way to get a little something back while I'm learning. Don't you think it's a cool way to learn and earn at the same time?