Topic: Learning is better than Following - page 5. (Read 806 times)

Yeah, that's a good decision. We should not rely too much on someone professional or expert to invest our money continuously. It looks easy, we invest our funds and ask someone who is an expert in trading to manage it, we just give up funds and make a profit without bothering. But it will be very risky for us, if we have no knowledge or experience at all about the world of trading, and we choose the easy way in that way. Because we will not know exactly where our funds run, where our funds will be invested, and fully traded.

Therefore, we have to start learning how to trade. Why? Because that's where we will look for profit or a living. If we don't know anything and just jump into the world of trading just like that. Then it will be a turn off in the future. Since trading cannot be started just like that, we need to first learn about how to trade. Starting from analyzing the market, reading chart movements or candles, or buying or selling currencies. All need to be calculated with precision. There is nothing wrong with learning to trade while being assisted by an expert, we can ask about what we don't know, learn while starting with a small fund first, if you are sure what we have, then start trading.

This knowledge and experience will be of great help in the future. Because if you encounter a problem, you will not immediately panic because you don't know anything about the problem. With our knowledge and experience in the field of trading, we can analyze these problems and find solving points. Nothing but nothing, this problem can be resolved by our own hard work so far. Everyone learns, even an expert will continue to learn to improve and continue to increase his knowledge and experience. Because with this, we will be able to become accustomed to facing various obstacles, such as a decline in market prices. We will not easily get carried away by emotions (panic), we will be able to rethink to find a way out, because we are used to the problem.

Indeed, anyone can be a successful traders instead of following others trade signals. But it's also a great way to learn from anyone's trade signal like "why that expert think thses coins/tokens will pump or dump in the upcoming days? What'll be the right price level to buy any coins/tokens?". If anyone ask yourselft with this questions and constantly try to figure out the answers of those questions. Than it won't take more times to become a successful trader on your own, IMHO.

This is not only related to trading BTCUSD, but to all aspects of life, as I believe. The other day I found a nice post on TradingView about just this topic. Me to, I believe there is no shortcut, there is no quick way, there is no way but to sit down and do you work. If you want to be a trader, you need to evolve. You cant evolve if you are only copying another person. that also goes for all aspects in life.

Why not go both, learn and follow at the same time for maximum efficiency. Learn the trade to get experience, knowledge and wisdom that you need to become successful, follow the advise of people about their mistakes so you won't make the same mistakes that they made. It is far better that you have both learning and following in your journey because there are things that you can't get with just one. It is better if you have all the tools rather than making your own or improvising along the way.

As with every other good  and top paying skill, nothing good comes easy. It takes an incredible amount of time to learn a skill - in our case, investing and trading but when we take time to put in the work, the rewards are always bountiful. So instead of just trying to do a quick one on the market then settle for short term gains? I don't see the point especially since crypto is always rewarding to long term hodlers.

yes i agree with that if you learn in this crypo currency you maybe successful someday by simply learning,trading and investing. following advice's about crypto currencies also good if you are new in this digital currency industry it may help you develop your skills at the same time learning from them.

You are right. It is better to learn about trading from someone who has knowledge and information to learn to analyze to find the coin that we can buy. By learning many lessons about trading, which will grow our trading skills, we will have a better chance to analyze, and we can get one or more coins to trade or to use as our investment. You can't follow someone's journey, but you can learn from him to get more knowledge about trading to give benefits to you.

If someone suggests you buy a coin, you need to analyze more about that coin to know why you need to buy that coin. What we do will not always work for us because you will get an experience that will not work as your plan.

Of course learning is much better than just following someone's advice or posts, but that doesn't mean we shouldn't follow as you say we shouldn't fully follow all of these suggestions.
I learned crypto from someone's posts on blogs and also social media and until now, I still following him.
Every post he made about coin I will not immediately follow but will study the coin and buy based on my financial capabilities by putting aside the thought of getting a big profit, and until now that person's post when discussing is quite true so the conclusion is that you also have to follow the right person so that the knowledge we get is also correct.

Read how the pros do it and do what they're doing on test accounts with test balances. This is how I learned how to trade back then, though I am not an expert when it comes to making profit or getting the right calls 100% of the time. I still make some wrong decisions for my trades but I know how to minimize the losses and what to do on a bad call to prevent them from happening again and again.

Reading how to do it is one way, but applying it firsthand is another.

There are many problems with following someone else when it comes to making your financial decisions, to begin with if you know nothing about the markets then how can you know that the person you have in front of you is an expert on that field? The person in front of you could be a beginner but since that person knows more than you he comes up as an expert and you trust in him when he has no way to profit from the markets either.

The next issue is even if he is legitimate what are you going to do once he decides to stop helping you? Look for someone else? Then you will have once again the problem we discussed above, and finally why someone that can trade the markets will give away his advice for free or even for a fee when he can trade the market, keep quiet about it and earn a fortune in the process? So as we can see if you want to obtain results in the markets that can be sustained over the long term you have no option but to learn how to trade by yourself.

When we are in the beginning of our journey, I guess it's good to look at someone and learn from them. However, when you have the experience, you can make your own decision by not following anyone and it will also make you a good trader, regardless if you win or lose.

Experience is the key here and learning from your past mistakes. You don't need to rely to others but to yourself and then move forward alone and learn tricks by yourself and probably discover more secrets in trading that others are not sharing.

Well, it certainly isn't wrong, but not entirely right imo. Both following (or copying) and learning someone is needed, I hardly doubt one could exist without the other. Following someone means that someone learned something from others, and learning something means you followed or copied someone doing as such, it's that simple. Being stuck at one point is bad and instead should be both balanced. Copying and learning go hand in hand. It isn't wrong to copy, nor should it frowned upon tbh, it's prety much the root of all learning.

Learning is hard and that’s why many are just looking for a signal and follow it, which I think is not a good strategy.

We really have to learn the process and this is the only way to become more successful so don’t think that you’ll become rich here easily. Keep on learn even if its hard, because at the end of the day all the things that you’ve learned will help you on every decision that you’ll do.

Everything should be in the process of learning how to read or anything from start until today being an adult and gaining interest in what is special.

Your example is off with the kind of the following thing still, I get your point possible in that process and scenario of yours they will learn to step up after they learn from that mistakes, plus when you are new and don't know what to do maybe they will just follow.
They are two kinds of people maybe this the one you are saying that they are the ones who follow but maybe not that much as possible they will find help in any possible way, not one person.

Lastly what I see from all of this is that people should learn from everyone, not just one the same time they should read books themselves and not just following because they will regret when they just follow and not read that are the ones who cant stand alone.

I'd like to think that it's important to have a mentor whether you're a newbie, beginner or even intermediate trader. It doesn't really matter because at the end of the day, we all have people who were pivotal to our journeys. You mentioned something I found insightful though. That's the fact that we have to zero down and go the extra mile to learn things and do things for ourselves.  There's a sense of satisfaction and fulfillment that I get anytime I do stuffs on my own without really needing anybody's help or support.

At the end of the day:

I dont think there's anything wrong with following someone's trading history or someone who a good knowledge ion trading.

Following is good for newbies and when there is a tryout, learning is the best process and leads to success. But failure is natural in trading, that failure will be made you inspired about your bet and learn how to NOT give UP until you will learn as a newbie and this learning is very rare now.

All of these are depend on which you are confident to trade-in if you feel that you can have a passion for doing such a thing, it is fine.

You're right. It's your money, it's your responsibility. I can't blame those investors that are following people with their investments because it's convenient for them but I think they're aware of the consequence of it. Once that investor they're following has chosen bad investments or cryptos, then they have to accept it.

But who's still doing this? in such platforms there are features of copy trade but it's a different thing in investing in cryptos. You're not copying others if you buy bitcoin and just hold it just as what everybody is doing. I agree about learning, it should be an unstoppable activity for every investor and trader.

^ That is definitely right for me.
Why you will follow other opinions if you can decide from your own. Remember that in trading experience is the best teacher after all. Once you encounter failure, just try to make sure that it will not happen next. Following other's opinions for me is a kind of cheat because you copied or stolen the idea from others for your own benefit. Nevertheless, this is a case to case basin only,

Indeed! Learning on your own is like having your own weapon in a battle. You are not waiting for someone to defend you in this battle. Even if you start from the ground, actually it is much better, as you will encounter lessons that you can't read from trading books especially if you are into crypto trading. There are so many unwritten rules here, where you can only understand once you are doing your own trading. Start small as everyone is entitled to make mistakes. You can't gain your trading knowledge in your first day, so expect that you will have losses. Actually, even when you are already trading, there will still be losses but at that time, you know how to stop your losses.

Search up everything from basic and later on proceed with advanced trading system and as mentioned above where you shouldn't only focus out on technicals but also with fundamentals as well.

This will take time and involved lots of trial and  error because trading isn't a thing that you can learn overnight. Pure experience from pure engagement is really much more better than following.

Try to take grasp on everything and understand on what you are doing.Market volatility is one of the main issue this is why emotion and decision making skills or handling will really be crucial.