Topic: Trading without knowledge - page 9. (Read 2127 times)

Knowledge will be gained by experience. Experience is a long process so it is not easy to get. Trade also requires good emotional control, because emotions affect your trade.
All that takes time, and should continue to be trained.

I think that knowledge makes people feel helpless to live well in society. People in the knowledge of the knowledge take a decision on the path of justice. Where people can not do anything without knowledge, it is impossible to trade without knowledge - it is impossible to trade.

I agree with you. I think that the best weapon and strategy that we should be and should have here is just to be patient and positive here in crypto. Trading is a challenging thing that would changebour lives for good in the future so we must focus on the things that will help us grow in this field.

started trading bitcoin and altcoins since 2014, and I am often weak hand because of panic, I've been trying to learn a lot about trading, market conditions, market news, candles, and more, I have a lot of formulas, lots of theories, lots of science that I can and keep, but none of them talk about patience, weakhand, overcome panic, so a few days ago I decided to stop trading, and focus on other models, bounty, lending and bag holder. this is not my style, and currently has no passion. but I am still struggling with the market.

I think someone who is successful in trading without having knowledge is a lucky person and this does not last long. You're right, I agree with you. Start with education, research and do the exercises very precisely. Trade requires knowledge and persistence to succeed. It is difficult to develop this science but if you are patient and keep trying it will definitely work and your knowledge will gradually increase. Especially now that many trading sites provide for free self-service exercises (such as demo accounts), this should be used before actually trading.

I think that in the world of trading cryptocurrencies does not need skill that qualified, only in need is remain in the current trend of market trends, when the flow of the market moves up then you must be quick to quickly take the decision buy, as well as reverse.

I think thats a very hard lesson who everybody has to learn. In theorie trading sounds really easy. But low sell high. So the most people think they got this and just buy a bitcoin. But they have no patience, and they dont wait untill the price goes down. There just see the chart goes up continuesly and then when they buy it, the dump comes. When your new in trading and your coins get the first time down, you fear the first time fud, and you sell because you want to make less minus. And in the moment they sell, the coin is coin up

the knowledge we can get from reading some articles about trading, and asking experienced people, asking is a good way to find knowledge, therefore, we must collect or be friends with people who have been trading, so you can sharing experiences.

I think it is practically impossible to trade without trading knowledge. Before your first deal on a trading platform I strongly recommend you to have basic knowledges. The following tips coulf help you be a successful trader.
1.Tracking. If you want to be successful, track the latest cryprocurrency news, ranking and key indicators. Daily. It will help you to make correct decisions.

2.Distribution. To minify possible risks, it’s better to distribute your money into different cryptocurrencies. For exemple, in your wallet you can have 40% bitcoin, 25% ethereum, 20% bitcoin cash, 15% litecoin.etc

3.Technical analysis. Remember, the technical analysis is based on the information from the past. Don’t even try to predict the future cryptocurrency prices, no one knows it.

Sorry I don't agree with you, I don't think so. In my opinions, knowledge is also important in trading and every aspect. You only do something well whenever you have intensive knowledge about it. There are several reasons why I said that. For example, If you don't have knowledge about Birtcoin, you won't know the following lessons:

HERE ARE SOME LESSONS TO DRAW FROM THE CURRENT BITCOIN FEVER.

 - Don't invest in things you don't understand

Do you even know what a bitcoin is? Can you explain blockchain technology? Can you provide a reasonable explanation as to why a single bitcoin should be worth about $17,000 (U.S.) today – as opposed to the $780 it fetched a year ago ? If you don't understand something or its valuation bears no relation to reality, those are your first clues to stay away. There are plenty of easy-to-understand investments with valuations that do make sense based on their earnings, cash flow or dividends. Bitcoin generates no earnings or income and its value rests almost solely on the "greater fool theory" – a belief that one can find a buyer who will pay an even higher price than you did.

 - Don't expect to get rich overnight

Over long periods, the stock market has delivered total annualized returns – including dividends – of about 8 per cent.

That's a realistic expectation – and nothing to sneeze at. Investing in something that you hope will double, triple or quadruple in a year – whether it's a penny mining stock, a biotech start-up or a cryptocurrency – is not realistic and will lead you into trouble more often than not. Learning to control the urge to make a quick buck will serve you well in the long run. As the legendary value investor Ben Graham once said: "The investor's chief problem – and even his worst enemy – is likely to be himself."

 - Don't worry about missing out

We've all heard stories of people who have bought homes and cars with their bitcoin profits. Good for them. I'm guessing we could soon be hearing stories of people who lost homes and cars because of their bitcoin losses. When you speculate, you could win big – or lose big – but you have no way of controlling the outcome. If you invest in blue-chip stocks, on the other hand, you will dramatically increase your chances of coming out ahead – likely way ahead – in the long run, which is what really matters.

 - Boring is beautiful

If you want excitement, go see the new Star Wars movie. If you want to make money investing, you should strive for boredom. The late U.S. economist and Nobel Prize winner Paul Samuelson put it best: "Investing should be more like watching paint dry or watching grass grow." That's not to say prudent investing can't occasionally be fun or entertaining. When one of my companies pays a dividend or – better yet – raises its dividend, that's all the excitement I need.

 - Choose a strategy – and stick with it

I like to invest in companies with growing dividends (for specific examples, see my Yield Hog Model Dividend Growth Portfolio). Other people may prefer a passive indexing approach or, if they have the requisite knowledge, investing in value or growth stocks. The important thing is to pick a strategy (or mix of strategies) that suits your knowledge and risk tolerance, and then stay the course. If you're constantly distracted by shiny objects – whether it's bitcoin or some other investing fad – you'll be less likely to achieve your goals.

 

If we start a new business, it is best that we invest a lot of time to learn the knowledge of the cryptocurrency market, because the trade needs knowledge. We should buy some books or internet to read and learn about the market and crypto. In particular, we should participate in this forum to learn more about real-world experiences and know the trends of the market. if the trade without knowledge, no news we are very easy to make mistakes and capital losses.

That is the dumbest thing you can fo because you are just gonna waste your money it is like going into a sea or ocean without knowing how to swim. Yes you are just gonna drown yourself, so if you are planning to enter this kind of business i might suggest that you mught have at least a background in this thing before joining. Because you might get surprised on how this thing works and you might regret joining this anyways if you lose but you will wim think always.

Trading does not depend on emotions, trading is a primitive mathematics. In the market you bet up or down and pay a commission. The exchange makes an income from your commission.

Trading is not a random or luck based profession. It requires skills and those don’t come from sitting idle, doing nothing. In order to become a trader, reading is to be done or else it would be like walking with close eyes in a dark valley.

After all, this is considered as one of the most risky profession present the world is aware of. I would also suggest to gather as much knowledge as one can regarding this job.

It is really dangerous thing to trade without knowledge, what you are doing, there is a big risk of loosing everything you posess, heh. I would better learn, before

I don't know if it is knowledgeable to give experienced traders fund to trade it but I think one will still need patience for whoever the fund is given. Most knowledgeable individuals with integrity often avoid taken such responsibilities which implies that even with the experience , knowledge and patience they still consider it a risk.

You are really greedy to earn money! I can say that your greediness can lead you to lose all of your money. Do not trade cryptocurrencies if your knowledge is still not enough. Knowledge is really important and you must have a lot of it for you to make money.

Trading without enough knowledge about trading will lead to large losses. Trading is not gambling and not just speculation.

Yes, i agree with you even i have seen many people who know nothing about the market or any other things about technical analysis and they used to behave as if they are going to move the market in the direction in which they want to move. All these things is all because of how the human approach towards the market and the emotions of the human-like Greed plays a major role here. Sucess in trading will come only to those who are patient enough and who can control their emotions in a good way.

Trading without knowledge is the shortest way to big lose. This field is very risky, and even if you have good knowledge and experience about it, the possibility of lossing still existing, but without knowledge it will become very high, and you re in this case just gambling your money and depending in your luck.