Topic: Should we have to follow the footmarks of top traders? - page 2. (Read 387 times)
Following the footsteps of the top trader I suppose it is the thing we must do. All we need to learn and a good strategy in doing our trading needs an example. The most important thing is as a beginner we must continue to learn and not easily give up. Being the best trader of course they have ever experienced difficulties. And we must be able to learn from their experience.
Top traders reach their goals just because they are able to put their self comfortable within trading, they dedicate their life here and to create effective strategies that could help them to become successful. They look weird? It may not, they only have that attitude and perseverance which is something missing to the others. If we want to become a millionaire or top traders, we have to follow what they did with their lives and considering their behavior.
Do you believe these professional trade or even successful trade would tell all their secrets that allowed them to succeed? What they do is just give you little advice and they don't do it for free, either they want to earn views for their channels or they want to make money from books they write... but they never tell all their strategies. That's why I think you shouldn't follow anyone's footsteps ... you should create your own strategies.
A lot of different services have already been created that allow novice traders to copy the trading scenario of experienced traders and make a profit. For this service, payment is often made in service tokens. I have not yet used the services of such platforms, but I read a lot about them. Perhaps someone here will be able to do an overview of such a service with a report on the profitability or loss-making of such a trading method. In general, I agree, it is much easier to learn from experienced traders and learn from their experience and knowledge.
I believe that It is better to learn than to completely trade based on their own signal, sometimes, they could be wrong because if we copy their trade, we will not copy their risk management tool, and they know how to manage their own risk while we that has not developed may not know how to manage ours.If we have to copy the trade of anyone that is superior to us and we trust, we have to still first have the full knowledge of the whole thing first, so that we know when they are wrong and still on the right part, than when they are no longer on the right trading path. They might be superior, but they are not Gods, so they are also subject to lots of mistake, which I believe the best way to avoid such mistake is to also have our own strategies.
A lot of different services have already been created that allow novice traders to copy the trading scenario of experienced traders and make a profit. For this service, payment is often made in service tokens. I have not yet used the services of such platforms, but I read a lot about them. Perhaps someone here will be able to do an overview of such a service with a report on the profitability or loss-making of such a trading method. In general, I agree, it is much easier to learn from experienced traders and learn from their experience and knowledge.
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Professional traders are selfish and they will not tell their secrets.
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I am also thinking this, because if they will share their knowledge on how they can make money, especially on trading. Then, there will be new people who will counter them, get what I wanted to say?Professional traders are selfish and they will not tell their secrets.
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Those public advertisements they showing, like gains on their every chart, but behind those, they have this some secrets what they are using.
With that said, you can use websites like eToro that offer copytrading features. Similarly, there's a bunch of trading bots that allow you to automatically mirror the trades of top performers, though this usually comes at a fee.
This works until it no longer does. Regardless of how 'professional' a trader is, a losing streak is very much what you will be subject to at some point.
I get the idea of people looking at how other traders think about the market, read into their analysis and whatnot, but that should never be something you copy in full. Another disadvantage is that by copying trades you don't actually gain any crucial market experience yourself. All you do is depend on others to tell you what to do. You have no clue if they're selling you bs or worthwhile signals.
Also, some of these traders don't tell you is that they hedge their positions by using options, which means that even if their main trade isn't profitable, they can still make money through these options.
Not totally to become a shadow of their steps but to figure it out how they did and become a successful trader is enough. We have to make our own way also and finding the best strategies suited to us. Those top traders working it hard to reach on the top and that's the thing we have look at. It doesn't mean that we have to follow their strategies, only we need to see their behavior and how they become committed to their work.
There are definitely a lot of takeaways from 'top' traders that you can use to better your own trading, but by no means should you be cloning their every move, especially if you don't understand why the person you're following is doing those things (common with newbies to trading). It's perfectly fine to analyze what better traders do, but you should also be learning on your own and making a unique trading plan yourself that's not completely plagiarized from somebody else. Put your own spin on things.
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Professional traders are selfish and they will not tell their secrets.
.....
I am also thinking this, because if they will share their knowledge on how they can make money, especially on trading. Then, there will be new people who will counter them, get what I wanted to say?Professional traders are selfish and they will not tell their secrets.
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It is more likely, "If you found a river with a lot of fish, and if you will tell it to others, you will be having another person to share with the fish, your fish catches will probably decrease", unless you are generous, it will be different.
Most top traders don't publish their trades, and even if they do, they don't publish them right after they make them.
With that said, you can use websites like eToro that offer copytrading features. Similarly, there's a bunch of trading bots that allow you to automatically mirror the trades of top performers, though this usually comes at a fee.
If you're inexperienced then this is probably a good way to begin. But make sure you do your homework as there are situations that need to be responded to that you need to know about.
With that said, you can use websites like eToro that offer copytrading features. Similarly, there's a bunch of trading bots that allow you to automatically mirror the trades of top performers, though this usually comes at a fee.
If you're inexperienced then this is probably a good way to begin. But make sure you do your homework as there are situations that need to be responded to that you need to know about.
~....
Professional traders are selfish and they will not tell their secrets.
.....
I am also thinking this, because if they will share their knowledge on how they can make money, especially on trading. Then, there will be new people who will counter them, get what I wanted to say?Professional traders are selfish and they will not tell their secrets.
.....
It is more likely, "If you found a river with a lot of fish, and if you will tell it to others, you will be having another person to share with the fish, your fish catches will probably decrease", unless you are generous, it will be different.
What made top traders gain their profit might not work for you. Their timing is different with yours. however, it is indeed a good idea to pick and follow a trader and see how he makes profits specially if that trader openly shares his knowledge to everyone. But keep in mind what they will share is what they experienced and it might not be applicable on your next trade.
I simply must agree with that , a new trader and an experienced trader has their own timelines .. if you force to apply it into yours i bet that things would went wrong.It's pretty obvious that those people who make a plain copy on what top traders doing are know nothing but greed to achieve an instant success.
You can but to be honest, you can't especially if you are a newbie.
I know some newbie traders are following the moves of the professional traders but them and you are different especially in the skills and knowledge both of you have. Professional traders are selfish and they will not tell their secrets. Maybe they will share some of the tips and tricks but adding a research coming from you will help you be a professional trader.
I know some newbie traders are following the moves of the professional traders but them and you are different especially in the skills and knowledge both of you have. Professional traders are selfish and they will not tell their secrets. Maybe they will share some of the tips and tricks but adding a research coming from you will help you be a professional trader.
Top traders are not something we can actually calculate, if there was a website where you can see the trades of a person and it showed like a profile how much they made then we could have an exchange social media type deal (amazing idea by the way, someone should definitely do it). That way we could see who buys what and sells what and how much they made so far and during bear or bull etc etc and can decide who is a great trader and who is a horrible trader. After that we could at least eliminate the bad ones and pick the good ones that have been profiting consistently for a long time.
Because, someone who did a great profit and become super rich doesn't mean they are a good trader, maybe that was a dumb luck for a first time and we need to see people who do great trades consistently.
Because, someone who did a great profit and become super rich doesn't mean they are a good trader, maybe that was a dumb luck for a first time and we need to see people who do great trades consistently.
Why not? That top traders and expert you are mentioning started from newbie like you. If we follow them, their strategies, their advices, their footsteps then it will be a great help. Trading needs knowledge, and we can somehow gain that knowledge somehow from the other traders who shares their tactics, etc. If we already know some of their strategies, you can now build confidence especially you can create your own TA that suits you well.
no.
because first of all no "REAL" top trader who is ACTUALLY successful is going to ever waste their time and betray their own privacy to reveal what they are doing in the market. we are talking about a big risk here, they can easily be targeted if others knew who they were and how much money they were handling.
the result is that whoever you see is publishing their trading history is either newcomers like yourself that are sharing their thoughts or scammers who are trying to pump some shitcoin they are trying to dump.
secondly, the best case scenario is that you find a real deal but following any trade is not going to give YOU any money because you would be already late! entering and exiting the market specially in the highly volatile and manipulated altcoin market always requires being fast. so by the time you see what they did, it is already too late.
because first of all no "REAL" top trader who is ACTUALLY successful is going to ever waste their time and betray their own privacy to reveal what they are doing in the market. we are talking about a big risk here, they can easily be targeted if others knew who they were and how much money they were handling.
the result is that whoever you see is publishing their trading history is either newcomers like yourself that are sharing their thoughts or scammers who are trying to pump some shitcoin they are trying to dump.
secondly, the best case scenario is that you find a real deal but following any trade is not going to give YOU any money because you would be already late! entering and exiting the market specially in the highly volatile and manipulated altcoin market always requires being fast. so by the time you see what they did, it is already too late.
In as much as it is good to follow the footprint of top traders, its is also better that traders learn and develop a trade pattern for themselves as sometimes top traders can make a mistake in trades its left for the trader to detect the error and make changes on its own
That is right mate, we cannot totally depend in people’s opinion, sometime, our own opinion could even be better than that of such trader and we will fail to apply it because we feel that those top traders have any special ability, they don’t, they are people like us, they have only dedicated their time to what they are doing which some newbies are also doing and it is when they explore on their own too that they discover the strategies that those top traders are basically using. I think everyone of us just have to learn to be dependent, if we are dependent and we fail, then it will be more work for us to research on the reason for our failure in other to fix it, but if we don’t learn how to fix it on our own, we will not be able to become perfect like those pro traders.
As personally, I believe we have to follow the footsteps of top traders as well as we have to build our own strategies to trade, who knows your plans can give better results. But as a newbie its better if we follow the top trader and learn from them as they can teach you things you cannot able to explore yourself in short time and you can add up your own brain and efforts to make a reliable trading plan.
Happy Trading
Happy Trading
Pretty great smart idea following the strategy of the top experience top traders are best to get a lot of knowledge and skills how to become a master trader or successful trader herein crypto space. But before to follow them need to,be careful and investigate their reputation because some of them are scammers prentend as expert but not.
In as much as it is good to follow the footprint of top traders, its is also better that traders learn and develop a trade pattern for themselves as sometimes top traders can make a mistake in trades its left for the trader to detect the error and make changes on its own
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