Trading futures without knowledge of chart patterns, is gambling not trading - page 5.

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Quote from: cheezcarls on April 27, 2021, 07:34:06 AM

Yup that really makes sense in futures trading. It’s really essential for us to become knowledgeable in cryptocurrency trading. In futures trading, it’s considered gamble if you don’t know about the chart patterns but instead you go for the short or long option without any knowledge.

If we take our time at least a few minutes to an hour a day in learning about the basics of cryptocurrency trading like technical analysis, patterns, etc., for sure it would be a bit simpler for us to decide whether we go long or short, but still the risks are high. It’s important that we should learn how to manage our risks and finances properly, especially in crypto futures trading.

- Knowing more the charts and the basic form of futures trading, that will be the basis for confidence and think that we are safer than those who lack knowledge, accept a correct part in this ideal but the gambling element is still flashing a lot here because futures trading is a convergence of psychological manipulation and disruption, taking each other's assets. The setup process is based on only two forms of up and down prediction, a similar product with gambling but more advanced, more knowledge and more chart is still not difficult to win, gambling nature is too potential

Yatsan

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Anything being done without having any prior knowledge about that certain thing can be considered as a gambling for you are forcing yourself get into luck that odds will be favorable to you not to suffer from loss putting efforts even you still certainly know about that thing. Trading without having prior knowledge as well as strong foundation of what it takes to do trading will put you into high risk and instead of acquiring profit, you will just suffer from loss. Remember that doing trading have lots of risks associated with it and to be able to survive we need to deal with those risks and that is when experience, knowledge and strategy goes by to make you survive doing trading whatever kind it is.

imstillthebest

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they learned the basic temporarily beause they are starters but once they spend a long time in trading they will level up and learn advanced techniques .
the basics of trades are about buy low and sell high .
this was easy to understand and you can leave in a right time if your not going to be greedy and i dont think that learning advanced techniques will make you immune to loosing but trading will still be gambling .

sujonali1819

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From my end I want to say even spot trading without the proper knowledge about trading is like as gambling and Future/margin trading without knowledge about it is more that gamble I have to say.

I really afraid it.

In every unexpected BTC dump we can see there are a lot of news that billions billions dollars are liquidated. That means trader loss their all fund. And most of the cases future trade done by very experienced person in trading. If they liquidated in such unexpected dump of btc then what will for the people who don't know more about future trading.

darewaller

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Quote from: blckhawk on April 27, 2021, 08:46:41 AM

in another way of trading like a spot or something those persons who have no idea of reading the chart can still win and that is through following the current trend. That strategy is the most commonly used by newcomers in the crypto market. This could also somehow work on future trades but not all time of course.

Yeah both spot and margin trading might get us profits for same level of knowledge and technical analysis but when people go for higher leverage then the chances for withstanding against high volatility becomes lesser as they may get liquidated. This is the simple reason why people are successful with spot trading but facing losses in margin trading.

Quote from: udidrone on April 27, 2021, 09:16:31 AM

Must really carefully and understand at least how future works, because at first i trade only with $4 but liquid until all my $30 gone

Yeah, that is the cruel nature of leveraged trading. At the same time, you can trade with $30 like you are having $300 and may get profits like 10% or 20% of $300, that is also possible in margin trading but you must have strong technical so that you will enter at exact reversal and catch some price movements.

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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

Must really carefully and understand at least how future works, because at first i trade only with $4 but liquid until all my $30 gone Grin

. I think will be dangerous and if people trade recklessly, big possibility that people will lose all his money like when i found i think if not wrong, a girl trade with $400 but not mention sell order i think she trade in future trading.

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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

Yeah, pretty much a gambler I'd say if you will trade without having enough knowledge because even those people who have enough experience and knowledge and making their own analysis still lose, now imagine those who have can't read market charts. However, in another way of trading like a spot or something those persons who have no idea of reading the chart can still win and that is through following the current trend. That strategy is the most commonly used by newcomers in the crypto market. This could also somehow work on future trades but not all time of course.

cheezcarls

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Yup that really makes sense in futures trading. It’s really essential for us to become knowledgeable in cryptocurrency trading. In futures trading, it’s considered gamble if you don’t know about the chart patterns but instead you go for the short or long option without any knowledge.

If we take our time at least a few minutes to an hour a day in learning about the basics of cryptocurrency trading like technical analysis, patterns, etc., for sure it would be a bit simpler for us to decide whether we go long or short, but still the risks are high. It’s important that we should learn how to manage our risks and finances properly, especially in crypto futures trading.

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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.

Basics, what are they?
- Candles
- Types of orders
- Patterns
- Fractals
- Cycles
- Buy and sell walls
- Some indicators if you want some. Don't include more than 3 indicators in your chart.

Quote

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!

You can leave the market too early or too late or you decide to hodl but you will be alive and your portfolio can recover later if
- You don't buy shit and scam coins
- You don't use leverages, margins and your positions get liquidated.

Trading is gambling for any type of trades: Spots, margin/ leverage, future, binary if you don't control your emotion and orders. Make orders arbitrarily means gambling, not trading.

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Quote from: agustina2 on April 26, 2021, 06:01:06 PM

Trading Futures is another level. Why would you risk money here if you don't know how's the difficulty here. And futures is really a gamble. Even with how professional you are, there are chances that your funds will be burned in Trading Futures.

I believe by mentioning another level, you are referring the complexity of futures trading; because sometimes by another level most people are understanding like it is superior than what we are currently doing in spot trading. And I agree that even for professional traders predicting market direction will be too hard hence it is true with the statement of professional traders also facing big frustration in futures trading.

Quote from: agustina2 on April 26, 2021, 06:01:06 PM

It's different from Spot Trading where basic knowledge about trading is enough before someone can start on it.

I'm just seeing that it's a misconception about spot trading. Maybe spot trading is less-cruel than futures trading still you cannot approach it easily. You must make sure you are having enough skill before starting with spot trading as well.

DoublerHunter

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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

^ I could not agree more, but look at this one. Deny it or not, these traders are getting massive profits even when they do not have any idea about technical charts, patterns, and analysis. Indeed this is gambling, but it is good enough a gambling that gives big odds isn’t it? But of course, this is only temporary. Sooner or later, they will experience loss from trading will try to sell at red numbers. And that is the time they will learn their lesson to study charts. Probably most of us did start with that kind of approach. I would admit myself being one before, but I learned from my mistakes at get up.

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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

That means that you are asking for some luck. But it seems so hopeless, I mean, that guaranteed nothing.
On the other hand, trading without even having the basic knowledge is just like you are depositing your money to the exchanger without expecting it will get back to you. That is why, if we wanted to become a successful trader, it was first to invest ourselves to learning about it, not just to learn while in actual trading because it is possible that you lose a lot of money before you got what you wanted.

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

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

Trading Futures is another level. Why would you risk money here if you don't know how's the difficulty here. And futures is really a gamble. Even with how professional you are, there are chances that your funds will be burned in Trading Futures.

It's different from Spot Trading where basic knowledge about trading is enough before someone can start on it.

death69

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Acutally, I feel that technical analysis only allocates 20% of a successful trader. 80% is about money management and emotional control. There are people who do not have knowledge of trading but disciplined rules which make them a consistent winner in trading, especially in the crypto world. During this bull run, anyone can become rich without having a piece of knowledge in trading. And people who have their rules in trading are the best earners because they can easily cope with black swan, sudden correction or significant sell-off without having dramatic pain and thus, can continue to move on and make a correct decision whether to buy or sell a coin

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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.

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Even if you have the knowledge in trading but if you do trade without proper plan and strategies, I consider that as gambling especially if you are just joining the hype because you are depending on your luck, and you make no analysis on that.

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.

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Quote from: fahmimajannat on April 26, 2021, 11:57:20 AM

Actually that's true.
Without gaining knowledge trading is just a gambling. Where you can only depends on assumptions. But its damn true that market doesn’t fluctuate according to your assumption
Always. So its like a gamble Where you can get rich or homeless.

Trading is a profession and should be taken seriously rather than likely similar to how gambling is done. And that's what people fail to realize about trading. To really excel in the market, one has to learn how to trade and that involves learning how to analyze the market using the technical trading tools that are already available. The problem here lies in the fact that most people just want profit while being unwilling togo through the learning process and its too bad.

2double0

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Risk management and understanding of leverage should also be practiced when trading futures because if risk is not considered, loss may be more than how much that trade could lose you and without understanding how much max leverage you can use for your trades, you are just gambling on a dice game by changing the leverage number to higher that works as payout numbers and then waiting for the results to go either on your direction or against it.

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I don't know why anyone would do futures without having a technical analysis knowledge its purely gambling. But maybe some people have the luck to do that because I have seen some people that made real money from futures without any knowledge of TA. They just follow coin movement, that's what they tell me when I ask them how they do it.

fahmimajannat

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Actually that's true.
Without gaining knowledge trading is just a gambling. Where you can only depends on assumptions. But its damn true that market doesn’t fluctuate according to your assumption
Always. So its like a gamble Where you can get rich or homeless.

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