Trading futures without knowledge of chart patterns, is gambling not trading - page 6.

goldade

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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

Why would anyone call himself a trader if he has not learnt how to analyse trade, read candles or understand chart patterns? Technical analysis is the most important thing to learn if you'd become a successful trader.
I've seen people ( i wouldn't call them traders) who skip technical analysis only to end up losing funds because all of their trades are just mere gambling.
If truly you intend to make profits trading, then you should make out to learn all there is to technical analysis. It's very important even more than fundamental analysis which some people believe is more important

ice098

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Quote from: samcrypto on April 26, 2021, 07:20:09 AM

Any form of investing without having the right knowledge is gambling and you are taking too much risk if you this, this is why many got burn in futures trading because they though they can easily make money here until they got liquidated and almost burn out their total capital.

You can see a lot of good post about their earnings in social media and many newbies are rushing to the market because of that without making their own research, and once they enter in the market they tend to trade using futures, well you can expect the next thing that can happen to them. Always have time to learn, don’t take any shortcuts and just enjoy the process you can be more profitable once you have the right knowledge.

Precisely, that is why it is still and always an ultimatum that whenever you are going to enter any kind of work or job be sure that you have already made yourself a self education about that thing that you are going to enter. A basic knowledge was the most important thing that you need to be able to survived, and in trading reading or knowing about chart patterns was a basic skills that need to know by every trader. Though it is crucial, but this would definitely help you to improve your other skills that required in trading, it will help you prevent from huge loss ahead.

ScamViruS

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If you want to trade in any market, it is very important that you have trading knowledge and experience. It is not an easy task to predict the future price movement of the market. Futures trading is very risky, to trade in this market you need to be an expert in trading, otherwise if you open a position depending on luck like gambling, it will not take long for your account to become zero. Inexperienced traders take high leverage in futures trading to make quick profits, but sadly that position later turned into a nightmare. This is because if you cannot predict the movement of the market in advance and follow proper money management, there must be huge losses.

So I think you should stay away from the futures market if you don't have proper trading knowledge and expertise in trading. Maybe some trades can be profitable without any kind of analysis but in the long run there will be big dangers waiting.

FanEagle

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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!

Even you are a master of all the things you have mentioned, I'm afraid still you will be lagging for margin trading. Because margin trading itself in a gambling, nothing will help you there except your luck factor. I am a good example for this; I have been into trading for more than 10 years still I'm not profitable with margin trading..

When you are availing leverage your multiplying your risk factor which must be the core reason why margin trading is simply turning as gambling; spot trading is good because your risk factor remains as it is and you can easily tackle it with the help of technical analysis hence there are plenty of chances for making profits in spot trading compared to margin trading.

Bitcoin_Arena

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Not just futures trading, one ought to learn when to enter and exit the market even when spot trading. There is also a lot more to trading than just technical analysis, you have to be very disciplined, principled and keep your emotions in check whilst trading or else the Technical analysis you will have made would be in vain.

Proper risk Management is also one of the important aspects one has to take into consideration

When I was a newbie in trading, I made all sorts of mistakes from Greed, FOMO, no risk management plan, no exit strategy you name it and I lost a lot of money for quite some time.

nelson4lov

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

~Snipped

Given how much risks comes leveraged trading and futures, undertaking trades that isn't backed by a solid bias based on either a good technical analysis of the respective market or at the very least, some fundamental analysis before opening a new positions should be considered as just a gamble and nothing more. Anybody that is truly serious about taking on leveraged trades should be patient enough to learn technical analysis and how to use the various tools.

samcrypto

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Any form of investing without having the right knowledge is gambling and you are taking too much risk if you this, this is why many got burn in futures trading because they though they can easily make money here until they got liquidated and almost burn out their total capital.

You can see a lot of good post about their earnings in social media and many newbies are rushing to the market because of that without making their own research, and once they enter in the market they tend to trade using futures, well you can expect the next thing that can happen to them. Always have time to learn, don’t take any shortcuts and just enjoy the process you can be more profitable once you have the right knowledge.

boyptc

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And the same as trading but in trading, you're not obliged to sell or buy at any time because you can chill.

Whilst in futures, you are obligated to track your trade, or else you'll be liquidated. Most newbies are only looking at the percentage of profit that they can get on it but forget how risky it is if they're not prepared.

Emmychris

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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

Topic: Trading futures without knowledge of chart patterns, is gambling not trading - page 6. (Read 871 times)