Trading futures without knowledge of chart patterns, is gambling not trading - page 3.

boty

full member

Activity: 1190

Merit: 212

★Bitvest.io★ Play Plinko or Invest!

Quote from: wahyu wida on May 08, 2021, 12:59:50 AM

Quote from: gabbie2010 on May 07, 2021, 08:52:39 AM

Quote from: wiss19 on May 04, 2021, 03:19:08 PM

Quote from: MIner1448 on May 04, 2021, 02:53:12 AM

I made a conclusion for myself that I will no longer trade futures until I have studied the trading models by 100%.

I am afraid that you will get chances to master all the aspects of futures trading 100% because I heard even professional traders are not learning 100% but they are profitable because of their practical knowledge. I am not urging you to get into trading right away but you should practice more in demo accounts so that you will get more knowledge rather than depending on learning from other materials in 100%.

Moreover, instead of looking for opportunities in futures trading, you must get into spot trading for safer yet profitable trading. Spot trading is good for slow and steady profits.

As a trader future trading is a no area for me because of the high risk involved, even with the knowledge of charting techniques and candlestick pattern few losses can lead to rekting of the whole portfolio, I only trade cross margin and spot trading which I believed is less risky and I can control my emotions trading it.
Future trading has a huge leverage and only experienced traders with huge portfolio are recommended for that type of trading, newbies should keep off from it

actually even with the leverage system trading we can still trade safely. but indeed we have to learn about analytical techniques, monetary management, and psychology. with discipline to the plans that have been made beforehand, I think it is safe

you must be an expert to make futures trading safe. its not easy while we talk it theoritically, in fact our mental underpressure and some of them prefer to cut loss or cut profit before both of them hit. maybe if we use 3x leverage it will be more safe for us , maybe its like spot trading but used uge moneyt.

boyptc

hero member

Activity: 3024

Merit: 680

★Bitvest.io★ Play Plinko or Invest!

Quote from: wahyu wida on May 08, 2021, 12:59:50 AM

actually even with the leverage system trading we can still trade safely.

No.

That's not safe at all.

I've seen newbies who are new to it and they don't have enough knowledge about leveraging. They're easily liquidated and that's discouraging them to trade because they thought that leverage trading is easy as what they've heard.

But reality knocks them.

7788bitcoin

legendary

Activity: 2282

Merit: 1023

Quote from: SquallLeonhart on May 08, 2021, 12:25:01 PM

I believe this is what OP is emphasizing; trading in futures without enough skill, must be having more risk to lose; that is obviously equivalent to gambling.

If you are able to keep things simple and stick to the basics of getting into the market when the market is on a bull phase and then have the patience to hold for the long term then you will not end up in a loss. In cryptocurrency you cannot be trading successfully even if you have the charts and patterns as it does not give you any concrete answer because the data availability is really small and with that you cannot make any meaningful assessment that could be helpful.

Ridwan Fauzi

full member

Activity: 1330

Merit: 147

Indeed, most new traders just want to get profit instant so as they will justify any means to get money in an easy way but they do not think about the losses they will experience.

Moreover with future trading, you just need a few minutes to experience a huge lose. Your money will be depend on the leverage that you use, if you use high leverage then you can see with low time frame the movement your capital.

This has happened to me when I just started to trade. I don't have a long mind to decided for trading, I just deposited money and use a high leverage to get a lot of profit but it is just pulled me to met a huge loses. And when I know a bit about trading strategy then I realized that what I have done was a stupid.

SquallLeonhart

legendary

Activity: 2464

Merit: 1102

Quote from: wahyu wida on May 08, 2021, 12:59:50 AM

actually even with the leverage system trading we can still trade safely. but indeed we have to learn about analytical techniques, monetary management, and psychology. with discipline to the plans that have been made beforehand, I think it is safe

Yeah there are traders who are making use of leverage trading into their massive profits making but if you look into ratio of successful traders against losing traders due to availing leverage in crypto markets then you will definitely get shocked. Crypto markets's volatility is more cruel than any other markets. Whales manipulation must be another big reason.

Quote from: k@suy on May 07, 2021, 10:29:30 AM

in trading the more you make luck part of your job the more it is risky.

I believe this is what OP is emphasizing; trading in futures without enough skill, must be having more risk to lose; that is obviously equivalent to gambling.

wahyu wida

full member

Activity: 826

Merit: 100

Quote from: gabbie2010 on May 07, 2021, 08:52:39 AM

Quote from: wiss19 on May 04, 2021, 03:19:08 PM

Quote from: MIner1448 on May 04, 2021, 02:53:12 AM

I made a conclusion for myself that I will no longer trade futures until I have studied the trading models by 100%.

I am afraid that you will get chances to master all the aspects of futures trading 100% because I heard even professional traders are not learning 100% but they are profitable because of their practical knowledge. I am not urging you to get into trading right away but you should practice more in demo accounts so that you will get more knowledge rather than depending on learning from other materials in 100%.

Moreover, instead of looking for opportunities in futures trading, you must get into spot trading for safer yet profitable trading. Spot trading is good for slow and steady profits.

As a trader future trading is a no area for me because of the high risk involved, even with the knowledge of charting techniques and candlestick pattern few losses can lead to rekting of the whole portfolio, I only trade cross margin and spot trading which I believed is less risky and I can control my emotions trading it.
Future trading has a huge leverage and only experienced traders with huge portfolio are recommended for that type of trading, newbies should keep off from it

actually even with the leverage system trading we can still trade safely. but indeed we have to learn about analytical techniques, monetary management, and psychology. with discipline to the plans that have been made beforehand, I think it is safe

k@suy

sr. member

Activity: 882

Merit: 269

Quote from: totaleclipseofthebank on May 07, 2021, 08:52:30 AM

I agree. At least you need some basic knowledge in order to make a proper order.

Sadly, during this hot time, I see many people earning huge money without having any fundamental. They just recklessly invest in any coin they see and apparently, the market creates countless opportunities for them. So these people become more and more careless. It is not good at all.

Trading futures without knowledge of chart paterns was totally not trading but is a gambling, how could you jump into a term of trading when you don't have any idea about this essential knowledge of knowing how to read and analyze charts.
Well I guess knowledge about know how to see and analyze chart patterns was classified as a basic knowledge that every person wanted to become a trader.
Trading was risky but it is different from gambling that you would have some sort of luck, because in trading the more you make luck part of your job the more it is risky.

gabbie2010

sr. member

Activity: 2842

Merit: 326

Vave.com - Crypto Casino

Quote from: wiss19 on May 04, 2021, 03:19:08 PM

Quote from: MIner1448 on May 04, 2021, 02:53:12 AM

I made a conclusion for myself that I will no longer trade futures until I have studied the trading models by 100%.

I am afraid that you will get chances to master all the aspects of futures trading 100% because I heard even professional traders are not learning 100% but they are profitable because of their practical knowledge. I am not urging you to get into trading right away but you should practice more in demo accounts so that you will get more knowledge rather than depending on learning from other materials in 100%.

Moreover, instead of looking for opportunities in futures trading, you must get into spot trading for safer yet profitable trading. Spot trading is good for slow and steady profits.

As a trader future trading is a no area for me because of the high risk involved, even with the knowledge of charting techniques and candlestick pattern few losses can lead to rekting of the whole portfolio, I only trade cross margin and spot trading which I believed is less risky and I can control my emotions trading it.
Future trading has a huge leverage and only experienced traders with huge portfolio are recommended for that type of trading, newbies should keep off from it

totaleclipseofthebank

sr. member

Activity: 451

Merit: 250

Quote from: Questat on May 06, 2021, 05:41:26 PM

Quote from: Emmychris on April 26, 2021, 04:44:34 AM

Most people just learn the basic of trading which is just executing trade, but this isn't enough to be a successful margin trader if not you keep loosing funds, you have to learn about chart patterns, know how to analyze trade, know how to read candles. With this knowledge of technical analysis you could actually know when to enter and leave the market, like it's said no one can actually know the direction of the market! I might be new but with my studies I can say technically analysis could help to predict the market to an extent. Trading futures without knowledge of technical analysis is just like gambling because you don't know the next movement your just trading based on luck

Do trading without knowing even the basic things is just suicide.

Yeah, that your right that some people are hoping for Good luck but that is impossible if we don't do anything to improve our trades. Basically, trading needs knowledge and skills, not just having a LUCK alone. I actually asking for luck however, we can't just rely upon it but instead, it must be accompanied by hard work and also the use of our knowledge and skills.

I agree. At least you need some basic knowledge in order to make a proper order.

Sadly, during this hot time, I see many people earning huge money without having any fundamental. They just recklessly invest in any coin they see and apparently, the market creates countless opportunities for them. So these people become more and more careless. It is not good at all.

Kittygalore

member

Activity: 868

Merit: 63

Quote from: thesmallgod on May 06, 2021, 03:02:58 PM

When you are taking a great risk, you will discover that you are losing a lot of funds. This is because it is the basis to study technical analysis of crypto chart and also understand very well how to use trading tools in order to minimize the risk which exactly what the op has explained in order to avoid gambling rather than trading

You don't have to lose those funds when you are taking great risk, it's not like life is a one track only, you can take great risk and still be smart about what to do next. Also, why go for futures first when it is the most risky of them all? Learn the ropes first before going for the heavy stuff.

jaberwock

legendary

Activity: 2660

Merit: 1074

Quote from: Questat on May 06, 2021, 05:41:26 PM

Basically, trading needs knowledge and skills, not just having a LUCK alone. I actually asking for luck however, we can't just rely upon it but instead, it must be accompanied by hard work and also the use of our knowledge and skills.

Yeah, in trading also luck will favor you if you are good in knowledge and skills like how it does with braves. Luck factor is something which we can be manipulated through our analysis. It may sound hard and strange because people do call luck is something unpredictable or uncontrollable but in trading we can get into be lucky if we are good at skills.

Not alone in futures trading, even in spot trading if we do not know what we are doing then that is simply a gambling and nothing more. At the same time, if we know what we are going to do and performing everything within pre-determined calculations then luck will start favoring us which will end up in profits obviously.

Questat

hero member

Activity: 2982

Merit: 610

Quote from: Emmychris on April 26, 2021, 04:44:34 AM

Most people just learn the basic of trading which is just executing trade, but this isn't enough to be a successful margin trader if not you keep loosing funds, you have to learn about chart patterns, know how to analyze trade, know how to read candles. With this knowledge of technical analysis you could actually know when to enter and leave the market, like it's said no one can actually know the direction of the market! I might be new but with my studies I can say technically analysis could help to predict the market to an extent. Trading futures without knowledge of technical analysis is just like gambling because you don't know the next movement your just trading based on luck

Do trading without knowing even the basic things is just suicide.

Yeah, that your right that some people are hoping for Good luck but that is impossible if we don't do anything to improve our trades. Basically, trading needs knowledge and skills, not just having a LUCK alone. I actually asking for luck however, we can't just rely upon it but instead, it must be accompanied by hard work and also the use of our knowledge and skills.

kram31

full member

Activity: 791

Merit: 139

Quote from: Emmychris on April 26, 2021, 04:44:34 AM

Most people just learn the basic of trading which is just executing trade, but this isn't enough to be a successful margin trader if not you keep loosing funds, you have to learn about chart patterns, know how to analyze trade, know how to read candles. With this knowledge of technical analysis you could actually know when to enter and leave the market, like it's said no one can actually know the direction of the market! I might be new but with my studies I can say technically analysis could help to predict the market to an extent. Trading futures without knowledge of technical analysis is just like gambling because you don't know the next movement your just trading based on luck

In the first place, I agreed in the statement you said in which " We must learn the basic trading " this was actually right. But, using technical analysis especially for the newbies who come here in crypto space, it would be difficult for them to adopt it for sure. Perhaps, fundamental analysis is enough for us to earn, and knowing how to read candlestick, or patterns would also help as well too. Without this basic idea in trading I am pretty sure everything we do will be turn into nothing but to loss your assets just as simple as that.

jostorres

hero member

Activity: 2562

Merit: 586

Quote from: thesmallgod on May 06, 2021, 03:02:58 PM

it is the basis to study technical analysis of crypto chart and also understand very well how to use trading tools in order to minimize the risk which exactly what the op has explained in order to avoid gambling rather than trading

But, it seems that only knowledge alone will not enough to be successful in futures trading but you must need good experiences as well so that you could get chances to tackle the ever changing market conditions of cryptos. So, just being good at technical analysis and chart reading may not help you like how spot trading is doing for most naive yet good technical analysts.

There is always a slight differences between trading and gambling but it is really unfortunate that many traders are approaching trading in gambling way by not understanding its risk levels fully.

thesmallgod

full member

Activity: 1498

Merit: 129

When you are taking a great risk, you will discover that you are losing a lot of funds. This is because it is the basis to study technical analysis of crypto chart and also understand very well how to use trading tools in order to minimize the risk which exactly what the op has explained in order to avoid gambling rather than trading

FanEagle

legendary

Activity: 2884

Merit: 1117

Quote from: Alisha-k on May 05, 2021, 12:46:18 AM

You can't venture into any adventure unprepared and unskilled. To be classified as a trader you must have a well structured trading technique be it fundamental or technical.

But unfortunately many people are preferring those adventures and that too in manner of unprepared. Honestly I could not get those people who risk their money even there are lots of people keep shouting about the all possible risks of losing money in quick time. It seems they love fun and not the profits.

Quote from: Alisha-k on May 05, 2021, 12:46:18 AM

The bottom line remains such a trader must have an entry trigger. Which could be regarded as what the traders gets as a signal before executing a trade

You mean that they do enter into trading due to they are provided with easy signals from third party? I never trust any signals from others; instead of risking based on other's signal, it would be much better we can simply leave the trading and may go enjoying that money in other ways.

Alisha-k

member

Activity: 840

Merit: 23

You can't venture into any adventure unprepared and unskilled. To be classified as a trader you must have a well structured trading technique be it fundamental or technical. The bottom line remains such a trader must have an entry trigger. Which could be regarded as what the traders gets as a signal before executing a trade

Sinjokubhi

jr. member

Activity: 187

Merit: 1

Sinjokubhi

Quote from: Emmychris on April 26, 2021, 04:44:34 AM

Most people just learn the basic of trading which is just executing trade, but this isn't enough to be a successful margin trader if not you keep loosing funds, you have to learn about chart patterns, know how to analyze trade, know how to read candles. With this knowledge of technical analysis you could actually know when to enter and leave the market, like it's said no one can actually know the direction of the market! I might be new but with my studies I can say technically analysis could help to predict the market to an extent. Trading futures without knowledge of technical analysis is just like gambling because you don't know the next movement your just trading based on luck

Yes, it is true, after understanding basic knowledge, the next step we need to emphasize is technical analysis. Even though we already know about how it works, we also have to know how it is obtained, namely by means of analysis techniques. It is not easy to learn this. Understand the direction of the chart, understand candlesticks, and analyze trades. It is incomplete if trading is not carried out with this, because it is true what you say, if we get a profit without accompanied by analysis techniques, it will only be a fortune.

Usually you read and analyze charts and candlesticks. You can find out where the next market movement pattern is going and what actions you have to take, of course it will be easy to do because we already know what will happen. Even though not all of the predictions are correct, at least we already have a point to anticipate what will happen later. Do not rely solely on news or announcements from accounts, or groups. But you can determine it yourself through technical analysis. It is difficult, but I think it must be learned.

shield132

hero member

Activity: 2352

Merit: 905

Metawin.com - Truly the best casino ever

Quote from: 2double0 on April 26, 2021, 05:39:53 PM

Quote from: crzy on April 26, 2021, 04:49:20 PM

<<>>
We all have to see trading as your real job and trading requires enough time to analyze, futures are very risky and I will not take any actions in future without understanding the market trend, i don’t want to lose my money easily.

Futures are not risky at all if you do it with proper leverage like 2-3x maximum and set a stop loss after calculating your risk to reward. It will minimize your losses and improve your gains. If you use a risk to reward of 1:3 or 1:5, then you can do much better futures trading and gain so much again if proper risks are calculated.

The problem is that crypto market is so unpredictable, it often happens that the stop loss order we choose is often the amount where our currency falls but doesn't exceed much lower and rises again. Then we blame ourselves and don't set stop losses, then we get anxious because the same happens but we don't want to lose and this situation repeats frequently.

One thing is true, futures is amazing but you have to use max 2-3x leverage or not use at all (1x). Leverage means both, higher profit and higher loss chance. Trading is very risky and you shouldn't trade with the money that you can't really afford to lose. Trading should be like a hobby and you should rarely trade. I haven't seen a person who trades daily and makes profit and/or feels good.

There is one rule! What goes around, comes around! And futures gives you the possibility to profit from both, "go around" and "come around".

wiss19

sr. member

Activity: 2296

Merit: 348

Quote from: MIner1448 on May 04, 2021, 02:53:12 AM

I made a conclusion for myself that I will no longer trade futures until I have studied the trading models by 100%.

I am afraid that you will get chances to master all the aspects of futures trading 100% because I heard even professional traders are not learning 100% but they are profitable because of their practical knowledge. I am not urging you to get into trading right away but you should practice more in demo accounts so that you will get more knowledge rather than depending on learning from other materials in 100%.

Moreover, instead of looking for opportunities in futures trading, you must get into spot trading for safer yet profitable trading. Spot trading is good for slow and steady profits.

Topic: Trading futures without knowledge of chart patterns, is gambling not trading - page 3. (Read 874 times)