Trading without experience and knowledge

Mamun74

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Quote from: Ayub83 on February 20, 2021, 02:31:10 PM

Trading has become an activity that is often carried out by cryptocurrency enthusiasts, when you hold coins you are indirectly required to understand how to trade, at least how to sell and buy on exchanges is general knowledge that every cryptocurrency enthusiast must have.

But as the cryptocurrency ecosystem develops, there are lots of trading signals that eventually make many cryptocurrency enthusiasts who have no experience or knowledge of trading try to trade in order to find daily profits.

In your opinion, can someone trading without experience or knowledge?

If you have no idea or knowledge about trading,You wil be lost money.You need to trading signal.But you can trade without idea but you need some experience. You can get idea by article books.

Golftech

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Quote from: proTECH77 on April 03, 2021, 03:19:36 PM

Trading without experience and knowledge will make someone not to enjoy his or her trade in the market. It will hard for such person to make something good from that particular trade because he or she doesn't have any experience concerning the trade.
When you are trading without experience and knowledge it will be difficult for that trader to make a suitable profit because he or she don't have what it takes to earn well for the business.

You are leaning with luck if you don't have any experienced, just like you are playing gambling

each time you position your trade, the more you place your investment the more risk you are

placing to your money, it's very important to have the right skills and knowledge before you

take your step inside this business.

touseefahmad1999

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Allah is the Greatest

Bro Simple word the answer is no without trading knowledge and your experience will never you successful in this field. Because newbies becomes traps to put the money in trading and mostly loose money yourself. So you will put the money in your choice if you want to afford in this. If Bitcoin pump instantly people make profit on that time and price increase very fastly on that time you have good opportunity to trade on crypto and exit you trade with profit

tbterryboy

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Quote from: Ayub83 on February 20, 2021, 02:31:10 PM

Trading has become an activity that is often carried out by cryptocurrency enthusiasts, when you hold coins you are indirectly required to understand how to trade, at least how to sell and buy on exchanges is general knowledge that every cryptocurrency enthusiast must have.

But as the cryptocurrency ecosystem develops, there are lots of trading signals that eventually make many cryptocurrency enthusiasts who have no experience or knowledge of trading try to trade in order to find daily profits.

In your opinion, can someone trading without experience or knowledge?

The basic rules of trading hasn’t changed, it is still to buy low and sell when it’s high. Nobody tells you what to do, and because you’re buying low and selling low doesn’t mean that everyone is going to do the same with you, everyday there are people who are buying Bitcoin and everyone that is buying is buying with hope that the market is going to increase and they will make profit.

It’s just like in 2017, the market got to 20,000 dollars and even at that rate there were still lots of people who were buying and they were all hoping that they are going to make profit, so it’s the same thing with now. I mean just get into trading with basic knowledge and then over experiences you can lean all the required knowledge and strategies.

chs_0910

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I am new here.. I want the teacher to teach me..

proTECH77

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Trading without experience and knowledge will make someone not to enjoy his or her trade in the market. It will hard for such person to make something good from that particular trade because he or she doesn't have any experience concerning the trade.
When you are trading without experience and knowledge it will be difficult for that trader to make a suitable profit because he or she don't have what it takes to earn well for the business.

qwertyup23

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Quote from: Ayub83 on February 20, 2021, 02:31:10 PM

In your opinion, can someone trading without experience or knowledge?

Personally, it is possible but the experience can be similar to driving a car for the first time without knowing the use of pedals.

In trading, knowledge about the fundamental and technical analysis of a cryptocurrency are essential in order to mitigate the risk of losing your money. By those indicators, you would be able speculate safely the trend of its price either it increases/decreases. Of course, it is possible to trade without knowing those indicators but you increase the risk of you losing money by a significant amount.

geegaw

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Quote from: blckhawk on April 03, 2021, 08:58:20 AM

Quote from: Ayub83 on February 20, 2021, 02:31:10 PM

Trading has become an activity that is often carried out by cryptocurrency enthusiasts, when you hold coins you are indirectly required to understand how to trade, at least how to sell and buy on exchanges is general knowledge that every cryptocurrency enthusiast must have.

But as the cryptocurrency ecosystem develops, there are lots of trading signals that eventually make many cryptocurrency enthusiasts who have no experience or knowledge of trading try to trade in order to find daily profits.

In your opinion, can someone trading without experience or knowledge?

It is possible to trade without having any experience or deeper knowledge about trading, in fact, I've done it myself before when I was starting and yes I got lucky even made some profit way back then. I bet there are still numerous people who are trading without having any knowledge. However, it is all up to you if you can handle the risk because not all the time you will get lucky that is why in trading you need to study each and every possible outcome, you need to make your TA. I'd say trading signal could help but not all the time. It is not recommended but yeah it is possible but you should be aware of the risk you are taking.

Many investors are still the victim of lack of experience and knowledge but hopefully after they read the references here, they will add their limitations and learn more, the essence of trading is not too difficult but it is essential to know the right approach and solve the most effective trends. Especially wanting to be profitable at a daily rate will be more and more a learning process, update changes for each season to create the right strategy, can't close your eyes and make a mess, random chance exists but not high

pankowri

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You can trade by using only money and time but it will be a high-risk investment if you don't have experience and knowledge. Experience and knowledge support you to infer market circumstances, risk management, maximization of profit, prevent gambling to achieve the desired destination.

blckhawk

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Quote from: Ayub83 on February 20, 2021, 02:31:10 PM

Trading has become an activity that is often carried out by cryptocurrency enthusiasts, when you hold coins you are indirectly required to understand how to trade, at least how to sell and buy on exchanges is general knowledge that every cryptocurrency enthusiast must have.

But as the cryptocurrency ecosystem develops, there are lots of trading signals that eventually make many cryptocurrency enthusiasts who have no experience or knowledge of trading try to trade in order to find daily profits.

In your opinion, can someone trading without experience or knowledge?

It is possible to trade without having any experience or deeper knowledge about trading, in fact, I've done it myself before when I was starting and yes I got lucky even made some profit way back then. I bet there are still numerous people who are trading without having any knowledge. However, it is all up to you if you can handle the risk because not all the time you will get lucky that is why in trading you need to study each and every possible outcome, you need to make your TA. I'd say trading signal could help but not all the time. It is not recommended but yeah it is possible but you should be aware of the risk you are taking.

SacriFries11

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Quote from: Question123 on March 29, 2021, 08:32:34 AM

You can trade without experience and knowledge but for sure you will make a mistake and that can result to lost your capital. So it's better to learn even a basic strategy in trading and experience I think its not required because you cannot have it you are beginner but the important is that you are earning knowledge in trading that you will use to gain profit.

Agree. You can trade without experience but without knowledge in basic strategy, how market goes, and setting up the right way like market, limit and stop loss is like a gigantic trap coming in your way. You can surely have some mistakes in the beginning but make sure that you learned from it and take notes the mistakes. There are some free trading platforms that have free trading guide that will help you. I have a lot of mistakes in the first days of my trading journey but I realize that it's not really easy that you will easily gain money every day. I think beginners earn money weekly and some really messed up and got empty. It's a continues learning don't stop from learning knowledge and experience along with the attitude are significant factors to become successful traders someday.

passwordnow

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Quote from: vicko27 on March 31, 2021, 04:31:20 PM

No!, without experience or knowledge you will be trapped in the fomo or hype, and you will never know that the trading volume is real / not real "fake volume". Emotional intelligence is very important in day trading and swing trading, and you can get it only with experience or knowledge.
Never lose your money

Don't go to unpopular exchanges so that you can be sure that the volume is real and not manipulated by that unknown exchange. Although you cannot remove that thought that all of them creates fake volume to attract more traders but if you're trading on a better and reputable exchange, you will have at least the piece of mind that you're dealing with real traders and even you're not experienced, you can gain it on your own if you're going to try it but just don't do it on the unknown ones.

uelque

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Quote from: vicko27 on March 31, 2021, 04:31:20 PM

No!, without experience or knowledge you will be trapped in the fomo or hype, and you will never know that the trading volume is real / not real "fake volume". Emotional intelligence is very important in day trading and swing trading, and you can get it only with experience or knowledge.
Never lose your money

I remember how Buffet says his rule no.1 never loose money. Cheesy

Though it seems so impossible, you can't escape the fact that you can still lose some of you money in trading (whatever kind of trader you might be) because it is part of it. But it is true that you need knowledge in trading or else you'll lose much more than you expect to. And so yeah in order to avoid that, always remember Warren Buffet's rule no. 1. But it still depends on us how we execute that rule. Success rate of never losing money sometimes end up gaining nothig. So don't take it too seriously.

vicko27

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Behind The Curve

Quote from: Ayub83 on February 20, 2021, 02:31:10 PM

In your opinion, can someone trading without experience or knowledge?

No!, without experience or knowledge you will be trapped in the fomo or hype, and you will never know that the trading volume is real / not real "fake volume". Emotional intelligence is very important in day trading and swing trading, and you can get it only with experience or knowledge.
Never lose your money

bitgolden

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Quote from: Sinjokubhi on February 22, 2021, 09:19:57 PM

In the absence of experience or knowledge, I think it's too risky to do. Unless you are accompanied by a professional to teach you how to trade. Because if you do it alone without any experience or knowledge about trading and you buy or sell currencies without thinking. That will be very risky, especially if you buy a large amount to invest.

Indeed, the long term is more convincing and easier to do for a beginner, but if it is done without knowledge, you will find it difficult to run later, unless you pay a professional to invest your funds. Knowledge to start trading is very necessary, so that you do not have trouble when starting it yourself. It would be better if you were accompanied by people who already have the ability and expertise in this trading field. Because from there you can learn how and the trading process to achieve profit (profit) and manage existing and future risks.

From there you will also gain experience. By studying, starting with a small capital first. Don't be afraid to ask questions, because someone will definitely help you. Don't take the risk of trading right away without knowledge and experience. Because if it's not because of luck, you will suffer losses if you start in that way.

If you are looking for a way to be accompanied by the veterans, there are thankfully now places that literally does this. How? Well there are copy trading places where there are people who trade and make a lot of money from it, and you can follow up how they did in the last day, last week, last month and last year, and if a person is top 10 in all of that, they are usually a great trader, so you leave your money to the exchange, telling it to do exactly what that trader does, copy trading as in copy his trading, and you could make money like him.

You will learn there that life is not that simple, even accompanied by a great trader, if you do not know why he does what he does and what his mindset is, you could see a drop and get out while dude could stay in and make money later on. Long story short you should always know what you are doing even if there is a very good trader with you.

trigger1975

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Quote from: DoublerHunter on March 30, 2021, 04:53:16 PM

Quote from: Hypnosis00 on March 29, 2021, 06:23:37 PM

If that OP is really concern about becoming successful and profitable, you will have to have these things. I don't want to push you to the limit and learn all the trading tools that most traders had used but as a part of the learning process and to enhance our chance to achieve our goal, it is a must to do it otherwise, we just quit.

If we take a look at why teachers have to undergo training is because to improve their knowledge for positive and effective teaching. This is also what we gonna do in trading and keep in training by being exposed to actual/live trading scenarios.

^ That is really a good point of yours and that is definitely right, keep exposing yourself in trading, keep learning, and more experience because they were leads you from successful trading if you were always encountered them. As they say, experience is the best teacher in trading that you could learn after how many faults that you have experienced and of course, you will not let this that will happen again. Nevertheless, trading without experience is like throwing your money and made them or the other trader that easier to gain profit. Because trading is not an easy job for people that don't have experience and skills.

And expect your journey into trading to be educational first. Everybody thinks, opening a broker account, depositing 1000 US$ and placing some trades will make them a trader in a day or two. If people are good in their day job and you ask them how long it took for them to get that good at it, they'll answer you something like 5 years, 8 years, 10 years. But everybody thinks learning to trade and to become a profitable trader is a matter of days or months.

It takes time and hard work to develop the right mindset, the right psychology, the discipline and the will to trade through losing streaks.

DoublerHunter

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Quote from: Hypnosis00 on March 29, 2021, 06:23:37 PM

If that OP is really concern about becoming successful and profitable, you will have to have these things. I don't want to push you to the limit and learn all the trading tools that most traders had used but as a part of the learning process and to enhance our chance to achieve our goal, it is a must to do it otherwise, we just quit.

If we take a look at why teachers have to undergo training is because to improve their knowledge for positive and effective teaching. This is also what we gonna do in trading and keep in training by being exposed to actual/live trading scenarios.

^ That is really a good point of yours and that is definitely right, keep exposing yourself in trading, keep learning, and more experience because they were leads you from successful trading if you were always encountered them. As they say, experience is the best teacher in trading that you could learn after how many faults that you have experienced and of course, you will not let this that will happen again. Nevertheless, trading without experience is like throwing your money and made them or the other trader that easier to gain profit. Because trading is not an easy job for people that don't have experience and skills.

trigger1975

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Quote from: MCobian on March 28, 2021, 09:17:26 PM

I started trading without enough experience and knowledge, which ended up making me have to lose quite a bit. Therefore, I always advise newbies not to make mistakes that I have already done. Trade if you already have knowledge about trading, therefore read more articles on how to analyze the market. Or if you are lazy to read, you can see tutorials on YouTube, many professional traders share tips about trading. Then for experience you can get by starting trading with a small capital first, or you can also use the demo trading feature found on several platforms.

Absolutely right: if you're starting out to trade, read articles, books, watch tutorials, get a good trading mentor (that's hard enough, I know) and then start demo or papertrading. Trade the demo with reasonable numbers, i. e. if you are willing to trade with 500 US$, don't trade demo with 100k. That does not make sense. Same goes for paper.

Golftech

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Quote from: Hypnosis00 on March 29, 2021, 06:23:37 PM

If that OP is really concern about becoming successful and profitable, you will have to have these things. I don't want to push you to the limit and learn all the trading tools that most traders had used but as a part of the learning process and to enhance our chance to achieve our goal, it is a must to do it otherwise, we just quit.

If we take a look at why teachers have to undergo training is because to improve their knowledge for positive and effective teaching. This is also what we gonna do in trading and keep in training by being exposed to actual/live trading scenarios.

Good point, it's not a one day learning process but instead a continuous learning. You need to keep improving if

you wanted to succeed from this business, it's not a luck based like gambling but it's a venue where you can

really earned decent if you focus yourself and find the right system to use.

akar87

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