New Trends Among Beginner Traders - page 4.

Qiubell5

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Quote from: Davidvictorson on December 24, 2023, 06:30:21 PM

I keep asking myself, are these kids doing it wrong? The beginning phase of the trading journey is a time for learning and not talking or trying to show off. These new kids should be quiet and focused on building equity, and other best trading practices that would make them successful traders rather than trying to act cool and successful when they haven't ever made a dollar other than in a demo.

I have engaged with a couple of them in trading conversations, and they beat around the bush, replying with generic responses without any real experience.

Showing off and being arrogant is always difficult for everyone to control. Including when have something unique or an activity that is not yet common, such as crypto trading. Maybe that's why the arrogant traders you have met are long-winded and lack knowledge. Because for them just by knowing crypto trading, maybe it has become a matter of pride. That's why the novice trader becomes arrogant.

abel1337

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Quote from: Davidvictorson on December 24, 2023, 06:30:21 PM

I don't know how it was done many years in the past when learning trading, so I will wait to read the comments of traders with many years of experience.

I've noticed that on my WhatsApp, Telegram, Twitter, and basically all social media websites, there are so many beginner traders with no real live trading experience who should stop giving trading tips to other people rather they just put it out there for whoever cares to listen to them.

I keep asking myself, are these kids doing it wrong? The beginning phase of the trading journey is a time for learning and not talking or trying to show off. These new kids should be quiet and focused on building equity, and other best trading practices that would make them successful traders rather than trying to act cool and successful when they haven't ever made a dollar other than in a demo.

I have engaged with a couple of them in trading conversations, and they beat around the bush, replying with generic responses without any real experience.

Has anyone else here noticed this too?"

Expect more during the bull market Wink

There will be a lot of "trading gurus" on social media when the bull market hits and most of their calls will be noticed given that the market is only going up. Market will be flooded with fake trader influencer in the next bull market as they want to gather and widen their follower base. It is somehow alarming given that the new wave of people entering the market will encounter these type of persons, worst case is bringing them doom in cryptocurrency by doing bad calls and asking them for money as an investment. I had seen these fake trader gurus last bull market and it's sad that people will only notice it when it is already bear market where majority of them will become dormant.

freedomgo

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You can't expect from beginners to be reliable on what they say. Sometimes, what they say are even the total opposite of what is happening in reality. While they are fond on bragging what they have, even if we know that it's not enough knowledge and skills to be a successful trader, but let's just leave them on that because they find happiness and satisfaction on what they're doing.

However, we all know as real long time traders that it takes years before we can say that we're good at it. Although some learn faster than the other, but in trading experience will always be the best teacher. Without experience, you will never be realizable in trading.

Rengga Jati

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Sometimes someone who only reads a little and knows little and has little experience will feel that he is quite experienced and has a lot of ability and insight. They feel capable and in the end feel like they know everything. Especially when they get profits in several trading times.

We can't stop them because whatever dragon they are, it's usually based on their personal characteristics like that. And especially in that environment or group, there are a lot of people like that, so they usually don't want to look ordinary and not wow like the others. Therefore, we ourselves must limit ourselves. just let them talk a lot of things about trading that sometimes don't make sense, we don't need to consider that. and even if there is something true about them, just take it as a consideration... Because it might be quite difficult to give advice about the importance of continuing to learn in trading to someone who feels they are already great at trading even though they are still quite new.

lixer

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Quote from: Pokapoka124 on December 26, 2023, 11:22:11 AM

The reason anyone would do this cannot be far from making money. I have seen this so many times and greenhorns usually do this for a couple of reasons. It is possible they don’t have money to trade so they post their trades online to get someone who’s willing to risk giving them money to trade on their behalf and get a monthly commission for their investment. Some new traders are pretty good and have a history of successful trades, they become greedy and want to x3 their capital but don’t have the funds to do so. Their only option is to attract investors to give them money to trade for an agreed ROI.

Well, by the time we talk about trading and cryptocurrency, money is already the centre of it. So, what's the difference? But there may really be some who only wants to be a good guy? Then there are who only wants a fame, etc... .

It's crazy if a newbie is already good at trading. How is that even possible? Maybe yes, if they are only faking to be a newbie but the truth is they already have a long years of experience on this field. A real newbie can only get lucky to get a correct trade but I doubt it can be consistent. Although it's true that newbies are mostly greedy. Not only it is wrong, but they also want to risk someone else money.

Kasabus

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Social media posted videos and activities will never be reliable all the time. You have to filter out activities that you think are all lies and stick to what has been working and legit. Same with the case of beginner traders, you can't expect from them that they are really well experienced and are profitable in real live trading. Because if they really are, they will not do a lot of talking and brag whatever they can brag, just let their performance do the talking which I think is hard for beginners.

ShowOff

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Quote from: Davidvictorson on December 24, 2023, 06:30:21 PM

Has anyone else here noticed this too?"

Of course I can confirm that. Many novice traders cannot keep quiet and hide from the excitement when making profits from trading. Some of them even show off things that make people around them wonder whether they are making tens of thousands of dollars a month or hundreds of thousands of dollars, but the fact is that they show off too often even if it's only $100 to $1000 a month.

Basically this is only good if they want to become an influencer and profit from it, but without good experience and knowledge then I never really assume they are ready to lose everything. A professional trader will not show off his profits publicly without there being a big intention behind it (like an Influencer), otherwise they hide and only care about their financial privacy.

gabbie2010

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I don't follow any trading advice from newbies on any social media what I normally watch out for is chart patterns or trade models posted on twitter by experience traders thereafter do my own personal research through back testing of chart to validate and confirm those setup in a bid to practice, learn and apply the models in Live trading, trading is hard I think those newbies were lucky to make some quick profits in a short term that is why they are bragging and giving unnecessary advice , I would listen to advise of seasoned and experienced traders who usually backup their writeup with charts for more research.

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Quote from: tjtonmoy on December 26, 2023, 02:11:10 AM

Do you know what kind of equation is this? You can do some research and come up with an answer but does that make you really knowledgeable? Matter of fact, does that make me knowledgeable? Because I don't know anything about it. I have just copied and pasted this piece of information from an article released by NASA. I can say that this is a formula for launching the rocket in the space. But not having experience in this section I really can't tell what does what.
It has nothing to do with trading but I am just trying to make a point.
I can write an article by reading something on the internet and not knowing what it actually does. Everyone can share a piece of knowledge but experience is hard to gain.

Lol, that was a good one. I was trying to solve and figure out what it is for a second and realized it had nothing to do with crypto trading at all and I am like what the hell is the point of this? And then read the rest of the message Cheesy

good one, definitely deserved it. I think it's important to understand that you need to end up with something that will be a bit different, we need to end up with something that needs to be a bit more researched.

Unfortunately most articles online are not that much researched and that's why they rarely make it that different, we need to realize that it is not going to be all that easy and can't be handled all that easily. We should consider this situation to be ab it different though, it is just how SEO works for messages and articles.

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Quote from: Cryptmuster on December 26, 2023, 05:50:50 AM

I even see how they add me to different groups, in which case I simply leave such groups. ..

You need to prevent others from adding you to different groups in the telegram settings in the Privacy section. And until I set up my telegram, I had to unsubscribe from several dozen groups every day, to which I was added during the day. Thus, spammers increase the number of participants in groups that inherently do not carry anything useful.

Pokapoka124

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The reason anyone would do this cannot be far from making money. I have seen this so many times and greenhorns usually do this for a couple of reasons. It is possible they don’t have money to trade so they post their trades online to get someone who’s willing to risk giving them money to trade on their behalf and get a monthly commission for their investment. Some new traders are pretty good and have a history of successful trades, they become greedy and want to x3 their capital but don’t have the funds to do so. Their only option is to attract investors to give them money to trade for an agreed ROI.

pusaka

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Quote from: Cryptmuster on December 26, 2023, 05:50:50 AM

Quote from: yudi09 on December 25, 2023, 06:12:45 AM

I don't use social media very actively so I don't really encounter things like that. The only social media I actively use is WhatsApp and I don't join many groups apart from work and family groups. In the past, I found discussions like that boring when actively using Telegram.
On Telegram, there are many groups that I don't join but I have been in and the discussions are really long-winded and they each show themselves to be much better about trading.
I chose to leave and deleted the group so as not to be disturbed.

I even see how they add me to different groups, in which case I simply leave such groups. I’m not sure that this can provide any important knowledge, I think such groups are simply created in order to increase the number of subscribers, this is their real goal. All that can improve your trading results is practice, and trading textbooks, and I am skeptical about all these online experts.

They do things to make themselves more famous and have more followers. I was also one of the people who was unknowingly put into a channel that talked about trading and I thought it wasn't anything different from what they said.
Usually they have a private group with the pretext that all discussions will be discussed in detail in the private group, including trading signals and they call it a VIP group. They usually ask for some money if we want to enter the VIP group. From here we must have realized what their real goal is and their target is indeed beginners because they are usually easily tempted by the lure of VIP signals.

Ruttoshi

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A professional trader wouldn't brag about his trading skills and tactics. He will keep it a secret to himself because he is using it to make money daily and will quietly get rich with it. Only unskilled traders will come out and brag about their trading techniques, when they were only lucky to make profit once.

Trading is not something easy but needs time for you to learn and practice to become skillful, so that you can come up with your own strategy of understanding the market. It might take 2yrs or more, but these days newbies join the crypto space today and tomorrow they are trading and claiming to be a pro with no idea of the market. This is why a lot of them run at loss and stop trading.

deathcode

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Quote from: Kelward on December 26, 2023, 05:14:11 AM

inexperienced people who just wants to gain attention and talking about crypto trading that they practically know nothing about, scammers hyping scam projects, hackers directing novices to phishing sites, infact take every information from unverified sites as scams until they're proven otherwise.

the most ridiculous one I've ever encountered was a beginner who took a screenshot of the exchange account where he was trading and then shared it on social media. I know it may be a matter of pride for beginners, but they don't know how risky it is for them to keep their assets on an exchange where they may not know a crypto wallet to store assets. and they feel very safe leaving their money on the exchange.

Cryptmuster

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Quote from: yudi09 on December 25, 2023, 06:12:45 AM

I don't use social media very actively so I don't really encounter things like that. The only social media I actively use is WhatsApp and I don't join many groups apart from work and family groups. In the past, I found discussions like that boring when actively using Telegram.
On Telegram, there are many groups that I don't join but I have been in and the discussions are really long-winded and they each show themselves to be much better about trading.
I chose to leave and deleted the group so as not to be disturbed.

I even see how they add me to different groups, in which case I simply leave such groups. I’m not sure that this can provide any important knowledge, I think such groups are simply created in order to increase the number of subscribers, this is their real goal. All that can improve your trading results is practice, and trading textbooks, and I am skeptical about all these online experts.

Kelward

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Quote from: Awaklara on December 25, 2023, 01:02:16 AM

Quote from: Davidvictorson on December 24, 2023, 06:30:21 PM

Has anyone else here noticed this too?"

I don't pay much attention to such discussions on social media. that's because most beginners just want to show off with the little trading success they get. maybe it can motivate other beginners, but that kind of thing becomes a joke for experienced traders.

just apply more trying and listening. talk less and share profits. focus on improving your skills. Don't pay attention to other people's chatter, unless someone comes to us privately and wants to discuss it. However, sometimes we need other people's thoughts or experiences to increase our knowledge.

It's very important to research and verify any crypto related information that we see or hear on the social media, especially for newbies who don't have any experience in cryptocurrency investment and trading. There are lots of things to look out for, inexperienced people who just wants to gain attention and talking about crypto trading that they practically know nothing about, scammers hyping scam projects, hackers directing novices to phishing sites, infact take every information from unverified sites as scams until they're proven otherwise.

Cryptocurrency trading is harder in practical than when analyzing in theory, because in practical you're actually staking your money, and there's a good chance that you can lose it, except for beginners who still do demo trading and think it's easy. So it's important to know the practical experience of a person who's analyzing trading to you.

Lakai01

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Quote from: tygeade on December 26, 2023, 04:39:54 AM

[...]
However, if we see that veteran write how to trade better, or release some videos on youtube, then we would know if it's good or not and that will matter a ton. We should always consider that as the option in the end. I get that we may not end up with anything bigger than that, we just need to make sure that life is a lot simpler on the long run. I get that we could be considering this as a big deal, but we just need to make sure things are fine.

What you describe here is also one of the reasons why well-known and successful traders such as Tone Vays or Brian Beamish (The Rational Investor) now publish little about their trades, but advertise their courses and paid videos much more. This makes it much easier for successful traders to earn money with significantly less risk:

Source

Of course, you first have to get into a situation where you are well-known enough to be able to offer courses that anyone will book. I also enjoy following Brian's long-term forecasts, as they are always very close to reality.

tygeade

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Quote from: MFahad on December 25, 2023, 01:35:43 PM

Man cannot learn by himself, but he gets information and knowledge from somewhere. So any platform can be used for learning be it from internet or from a friend or relative. There is nothing wrong if one gets useful information from anywhere and shares it with others. It is not necessary that only a very experienced person has useful information, but anyone can give good information. If newbies share any information and it is wrong then we should correct them.

It is in this debate that new people learn, if we do not teach them and share our experience with them, then how will their experience grow. Of course, you should always make your own strategy, because different people can give you advice, we should listen to everyone's advice, but always make our own decision. However, sometimes new people can give you very useful information that we are not aware of, because they are new and always researching new things.

The thing is, if we do it one to one then that's risky, but if we make it public then it's good. What I mean is, if you find a newbie trader, and a veteran trades take that newbie trader under their wing, maybe that veteran is an idiot and the newbie will not learn anything decent and the result will not be good at all.

However, if we see that veteran write how to trade better, or release some videos on youtube, then we would know if it's good or not and that will matter a ton. We should always consider that as the option in the end. I get that we may not end up with anything bigger than that, we just need to make sure that life is a lot simpler on the long run. I get that we could be considering this as a big deal, but we just need to make sure things are fine.

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Quote from: Davidvictorson on December 24, 2023, 06:30:21 PM

I have engaged with a couple of them in trading conversations, and they beat around the bush, replying with generic responses without any real experience.

Has anyone else here noticed this too?"

I am that newbie but never trying to bear around the bush because I know my place, I consider myself a newbie, and whenever I put my knowledge in front of anyone, it is totally based on true experience that I have gotten from the trading I have done. And whenever I said something wrong I was corrected by experienced ones. But, one time I did embrace myself, when in 2022 or in 2021 maybe (don't know correctly) when I went to an event and it was my early days of trading (like a beginner) and I was totally into my phone checking it again and again and talking about trading even if the topic was something else.

Well, now in 2023 I came to realize that one of the fellows who was with me in that event the whole time, was an expert trader and I did not know that, I was acting cool like I was managing some big business but he was cool, he was not even checking his smartphone or talking about it. He was totally enjoying that time.

And then I realize I am taking trading wrong, we should talk about it when it is needed and we should not think about it the whole time.

rat03gopoh

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Quote from: Davidvictorson on December 24, 2023, 06:30:21 PM

I've noticed that on my WhatsApp, Telegram, Twitter, and basically all social media websites, there are so many beginner traders with no real live trading experience who should stop giving trading tips to other people rather they just put it out there for whoever cares to listen to them.

Because the experts will open paid courses, signal groups, or they just keep their own tips for their own benefit. I'm not sure there are really experts giving their valuable tips for free on the internet these days.
On the other hand, there are a group of traders who just by luck have randomly guessed the price direction and then forwarded on other traders' tips.

Topic: New Trends Among Beginner Traders - page 4. (Read 800 times)