Topic: Trading without knowledge - page 28. (Read 2095 times)

It’s like walking without an eyesight. Not advisable, you have to study first and learn the strategies in trading, you may use a demo acct to practice your skills, when you realize it’s already effective maybe that’s the time you can trade real money. I can relate to that because i am literally no knowledge in trading, though i am wanting to know and learn because i would love to trade. In time, that i am knowledgeably ready, i am interested in trading too😊

it's no problem because you can still do it even without the knowledge and the problem is trading without capital,
I suggest buying eth or btc when the price goes down and hold it ,,, you will get a profit, I am sure

If you will start trading without any prior knowledge or experience than it will be like a gambling your chance for you to make profit will be equal to your chance of making loss even lower than that.

Trading needs intensive study of market and also you need to watch for every news/update that will broke out.

To trade without certain knowledge is a utopia. You must understand what is happening in the market. And you should have your own trading strategy. Otherwise, you will simply lose all your money. So do not listen to anyone and learn to trade. And to start better with a small deposit.

Traders who do not have much experience they are just lucky, but maybe that would be better in business. They have no knowledge so they invest in altcoin and they hold them for long. They do not have much suspicion in doing business so they are more successful than their predecessors.

right we might lose our money on it if we jump real quick on it without knowledge what are the risk it contains.  So we must learn more and gain more information with it for the sake of our money 'cause TBH  doing different manner in crypto is very difficult so much better to wait and gain more knowledge before jumping into it. .

It’s really difficult to improve trading capabilities then you have to gather a lot of knowledge about the market. For this purpose, we may find out a lot of literature regarding this purpose. Basically, trading is totally dependent on the experience and knowledge about market.
That’s why, without knowledge and experience, No one can gain from trading and investment. But it also depends on luck but knowledge is the basic element.

It's said that first learn to earn.This quote best suits for crypto trading.Atleast some basic knowledge about the crypto currencies is needed to trade succesfully.We should be able to find exactly the under valued crypto coin to earn huge profits.We should not blindly follow the market FUDs or else,we would be the victims of big whales.We should start trading at first with a smaller amount to gain the required experience.

Compare your self to a soldier going to a war without any weapons. What do yiu think might happen to you? It is tge same with trading. Your weapon will be your knowledge. If you will start trading without the basic knowledge about it, you might lose everything. Invest in your self first. Invest time and effort in studying trading and cryptocurrencies. Always remember that knowledge is power. If you are knowledgeable about trading, you will have the power to minimize your risk and you can have the power to earn profit!

Emotions are not needed when it's about trading, but this is what most people don't understand. You asked them to make their emotions stronger, I would say that they don't need to trade by heart, but using their brains. Emotions are what make you lose when you buy at higher and sell when it goes down during the doomed markets. It's patience that you need. I'd give some mantras to remember to become successful in trading:

- Never trade by hearts, always think using your brain. Don't trade ever if you are interested in those small 15-30 minutes trades where your chances of loss are more. Only invest if you have the capacity to hold a coin for at least 3 weeks. Come on, it's not even short term. You need to wait at least 3 months to say that you waited for that SHORT TERM TRADE (in my words - INVESTMENT).

- Research a lot about a coin you're interested in, before investing. Chances of the growth in terms of development, its use case, why should it rise and what are the chances of increase in its value, dedication of the team towards their project, their social presence, etc. Don't just jump into any other coin, choose the best one and once bought, hold it till it reaches your target. Come on, it takes nothing for you to wait except your time, you're not even charged swaps over your coins. You just need to hold with patience.

- Never regret. You should never feel negative for your decisions, but when you feel that you're losing more than expected and if you can't hold more and have some other coin in mind (still think at least twice before taking this decision), cut your losses by selling it over time and buy that coin about which you're confident that it may get you your capital back. Though, don't be greedy when markets are not in the mood of supporting your trades.

education and knowledge is very good to serve as a guide in trading, not only on the basis of the substance of experience but on a better understanding to beginners and traders, with education and knowledge we can learn as a whole and have the ability and avoid big losses because our mistakes do not deepen knowledge and knowledge about trading.

Right ! But I think you are wrong saying that this forum is the main thibgs that mislead the beginners, its just up to you if you really have that education you wont do that unless you have the basic knowledge in trading which is performing a technical analysis.
Trading is not for you if you just can read and never understand the things you read and specially you have to had the skill in before you can trade.

It is quite obvious that you should have some education in order to start trading but for some reason this forum is one of the main things that mislead the beginers. I remember myself a while ago asking about crypto trading, the most popular advise wassomething like "Just fund your exchange account and start trading, you will get experience. No shit".
Just imho we should have a thread with basics of technical analysis and some information about crypto trading / investing pinned on this board.

A lot of people do trading even if they don't know nothing about it and some people succeed on that but most of them failed.
One of the reason why I think they do that, is because of GREED which can result to a big loss for them.

Start with education, make a lot of research, do some practice trading online
and use it later on in real life. Don't rush to earn money because in trading its hard to do so.

Are you a trader in mind but scared inside?
Be more patient, develop your emotion and win in this market.