Two Types Of Traders - My Personal Classification - page 2.

naira

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Quote from: jrrsparkles on January 20, 2023, 10:06:51 AM

So I would fall under blind category based on your classification because as a long term trader I don't do technical analysis but strong with fundamental cause only trading bitcoin for long term and knowing/hoping it will rise in the next cycle and so on.

I am not gambling and blindly hoping to rise in the next minute, I am just saying I will hold until it rises so where I should be whether in first one or second one? Or better to have something in between them like intermediate trader.

I am not ashamed to admit that I fall into the category of blind trading. Because in fact, that's exactly what I do when I don't have time to apply the techniques, methods and strategies that are 100% essential for successful fast trading. Calculating probabilities, then applying the strategy actually made me lose points because price volatility increased relatively quickly. A blind trader like me admits that personally, I am not an active trader but only occasionally make entries in bear markets when there are lots of opportunities, obviously instinct works faster to make decisions.

stomachgrowls

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Quote from: maydna on January 23, 2023, 10:31:48 AM

It is better to be an awakened trader after losing a previous trade by learning to analyze it properly and correctly to recover his losses and make a profit. This is not easy for an awakened trader type as they have to spend more time learning various trading-related things.

That's why before beginners enter the world of trading, they must learn about trading and have analytical skills to reduce the risk of those losses. Blind traders don't want to use their time to learn more because they only want to get profits without having to bother learning, namely by relying on signals from other traders.

Impossible for you to remain to be that blind of all the possible mistakes or errors that you would commit along the way.This is something that would unlikely to happen since we do always go after for profits which means
that we would really be giving out some importance for whatever condition that we do able to encounter and it would be part of our common sense that we would really be avoiding the next errors specially if we are already that having the experience on that.It would be that part of your instinct that you would really act against to it since you know that its a losing method or analysis but since this market is unpredictable
then there's no way that each analysis would be 100% precise. One things for sure is that you would really be making yourself wise as long you do proceed further.

maydna

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It is better to be an awakened trader after losing a previous trade by learning to analyze it properly and correctly to recover his losses and make a profit. This is not easy for an awakened trader type as they have to spend more time learning various trading-related things.

That's why before beginners enter the world of trading, they must learn about trading and have analytical skills to reduce the risk of those losses. Blind traders don't want to use their time to learn more because they only want to get profits without having to bother learning, namely by relying on signals from other traders.

KingsDen

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In other words;

Good/Experienced/Professional Trader
Novice Trader

A professional traders is one who controls their emotion, one who enters a trade due to the result of his fundamental and/or technical analysis. A professional Trader knows when to enter the market and when to exit. A professional trader could tell when they are in peppertual lose or gain. He also understands risk management.
WHILE,
A Novice Trader is one who does not consider analysis, or who uses wrong analysis to trade. They gamble in the name of trading and I used to be among this people till I stopped trading actively.
But one thing is that no one is born a professional Trader. It is from Novice that one graduates to a pro.

Smartprofit

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The awakened trader is, in my opinion, a very idealized image of a trader.

There is no evidence to support the thesis that excellent knowledge of technical and fundamental analysis, as well as analysis of the news of the crypto industry helps to make the right decisions in trading. The crypto market is influenced by a huge number of factors, so even a huge amount of processed information very often not only does not help the analysis, but, on the contrary, harms it.

Another thing is insider information! A trader who has insider information will always be able to make profitable transactions and make a profit.

AakZaki

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Quote from: BitcoinPanther on January 20, 2023, 05:03:29 PM

~snip~

it is very appropriate to be called a gambler, because they only guess without any analysis being carried out. Like when trading futures, just guessing up or down and hoping their guess is right. Some beginners may start learning gradually and lack trading knowledge and experience. when there is enough experience, the ability will also increase.

Adbitco

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Sorry to say this, i may not totally agree with you on this why?
Because The Blind trader, that is blind traders can not be fully classified as blind trade rather we could call them swing trade or weekly traders.
These sets of people doesn't fully focused on the market doing buying and selling as others which you called "The Awakened trader" because they always have and set goals to either make their trading weekly or monthly as the case maybe, but i could say their profits are not often as daily traders being The Awakened trader, the probability to make profits are low and very slime because they often lose mostly compared to regular traders.

Do you know The Blind trader could possibly became Awakened trader?
Yes, this is true because when they become an active daily trader they turns to awakened trader.

TimeTeller

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Quote from: goaldigger on January 21, 2023, 04:38:40 PM

Quote from: Eureka_07 on January 21, 2023, 10:05:06 AM

Quote from: milewilda on January 19, 2023, 04:44:14 PM

Sadly, it is not always the case. I can tell that most "blind traders" do not learn much from experience alone, and because of that, they continuously lose their trades. I believe it is necessary for a "blind" trader to awaken himself/herself, not only by experience but also with the help of studying by reading and watching pieces of literature and joining discussions related to trading.

Losing the money is the easiest way to teach those irresponsible trader, they should experience the worst first before making any progress which is not good especially if you can avoid it in the first place. Being a trader is consider as your job, and in order to succeed you have to do your job correctly but if your focus is not to learn, don’t expect trading can make your rich, there’s no successful trader today that is purely based on their guesses.

Definitely right! If they will lose a significant amount of money, that will be their expensive lesson in their trading journey.
Being a trader is not a walk in the park. Before you can say you have more than enough skills to win this journey,
you already have had your fair share of losses. It is not an overnight achievement but years and years of experience.
Learning the ins and outs of tradings would take years as each project has their own set of features and you can't apply it just to any project.

goaldigger

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Quote from: Eureka_07 on January 21, 2023, 10:05:06 AM

Quote from: milewilda on January 19, 2023, 04:44:14 PM

Sadly, it is not always the case. I can tell that most "blind traders" do not learn much from experience alone, and because of that, they continuously lose their trades. I believe it is necessary for a "blind" trader to awaken himself/herself, not only by experience but also with the help of studying by reading and watching pieces of literature and joining discussions related to trading.

Losing the money is the easiest way to teach those irresponsible trader, they should experience the worst first before making any progress which is not good especially if you can avoid it in the first place. Being a trader is consider as your job, and in order to succeed you have to do your job correctly but if your focus is not to learn, don’t expect trading can make your rich, there’s no successful trader today that is purely based on their guesses.

Patrol69

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Those who are basically TheAwakened traders must always observe the matter well before making any trade. They will observe the current state of the market and the previous state and come to a decision whether they should actually take the trade now or not. As a result of trading in this way, they face less losses. But those who are The Blind Trader never do any plan or market observation before taking the trade. They trade based on a spiritual knowledge of their own. As a result of which it is seen that most of the time they lose by trading. Everything has a certain rule, if we follow the certain rules, then it will be seen that the mistakes in our work will be less and the amount of success will be more. So we must be The Awakened trader if we want to profit by trading. Before taking the trade, we must observe the market well.

_BlackStar

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Quote from: lixer on January 21, 2023, 01:51:22 AM

In trading, there is still a risk. We need to be willing to take risk if we want to make a profit. Buying high is one of the strategy of a pro trader. They will just sell it again at a much higher price or they can Hodl it for a while if the increase won't continue.

If that's what pro traders mean, tell me about a trader who bought on the dips and waited for the highs to sell.
Being willing to take risks doesn't mean they have to buy high while they have to wait long time for returns as prices drop. But pro traders should be those who know when to buy and when to sell. Usually buy low and sell high, and they are in between those time frames.

I am not pro trader, nor am I gambling with trading. Unfortunately I'm not that interested in trading due to time reasons, and I prefer to invest for the long term and take profit when the target is reached.

Wexnident

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Me, who gave up tech analysis and just went DCA'ing Bitcoin. Am I part of the 2nd or the first one? or heck is my method even considered trading in the first place I wonder. Nonetheless, I reckon as long as a trader has "awareness" of what he's doing, I think that should be enough to say that he's a trader. Knowing that a market can go up and down, knowing what coins/assets are in, knowing what to invest and when to invest, simple stuff like that. I'd consider people who do technical analysis and chart readings and stuff like that to be more on the advanced level imo.

Quote from: Fivestar4everMVP on January 19, 2023, 03:31:02 PM

trading is like sports betting for them,

It's not "like" sports betting, it is one for them. Was actually this type a few years back, but hey, can't really blame anyone, knew nothing but still wanted to join in on the ride of Bitcoin back then.

Eureka_07

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Quote from: milewilda on January 19, 2023, 04:44:14 PM

Sadly, it is not always the case. I can tell that most "blind traders" do not learn much from experience alone, and because of that, they continuously lose their trades.

I believe it is necessary for a "blind" trader to awaken himself/herself, not only by experience but also with the help of studying by reading and watching pieces of literature and joining discussions related to trading.

Jawhead999

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Quote from: lixer on January 21, 2023, 01:51:22 AM

In trading, there is still a risk. We need to be willing to take risk if we want to make a profit. Buying high is one of the strategy of a pro trader. They will just sell it again at a much higher price or they can Hodl it for a while if the increase won't continue.

How is buying high is a strategy in trading lol, trading is where you buy low and sell high.

Actually they're not buying high, but they just buy for little money or a peanut for him in order to pump the price, some people also input fake huge amount buy order to make other people think there's a lot demand. When their fake buy order want to get executed, they will cancel it. But it's actually the whale who want to sell huge amount of coin.

lixer

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Quote from: bettercrypto on January 20, 2023, 12:49:57 AM

Blind trader I think is not a real trader. It is because according to your explanation this trader you are talking about is very clear gambler who is willing to take riks in it. A true trader is not like that, if you buy at a high price and then sell at a low price, that is not called a trader. Unless it falls by 30$ from its 100$ price, then I can say that you can sell it at a loss because we don't know when it will recover to its original value.

Because they may only think of themselves as traders but the only basis is just a guess or just let it be, you are called a gambler then.

But, the activity that they do is still trading. If the activity that they do is gambling, then it's more appropriate to call them a gambler. Those who trade blindly can be a newbie but there is still a chance that they will improve, only if they are serious of earning a profit. If burning money is all what they want then better if they can just play gambling as it's more enjoyable or they can just donate their money to the charity. Needy people are going to be thankful for them.

In trading, there is still a risk. We need to be willing to take risk if we want to make a profit. Buying high is one of the strategy of a pro trader. They will just sell it again at a much higher price or they can Hodl it for a while if the increase won't continue.

wxa7115

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Quote from: Finestream on January 19, 2023, 06:56:06 PM

Quote from: milewilda on January 19, 2023, 04:44:14 PM

A blind trader would really be ending up on being that awakened trader. Cheesy

It all matters on the experience that they would encounter and those initial thoughts and believe on mind will really be swept
away and they would really be having that other approach on the time that they had gained up sufficient experience through different trading encounters.Sooner or later you would really be realizing off those things.
From blind to awaken which it would be the most common case to happen where it isnt surprising that you would really be more better when you do realize up things along the way.
If you are really that liking not to progress yourself then you would be sticking into your common methods until your do realize that it is pointless to continue on this way.

That is what really happening to most of the newbies out there. Either they end up quitting or they continue trading and become awakened traders because of their past mistakes and losses that made them stronger as traders. Also, for those who really want to chase over their losses, they don’t have choice actually but to change their mindset and adopt new skills and working strategies that will make them successful and profitable in the future.

But only a minority will actually become good traders by following this method, and this is because the newbies which trade the markets without any idea of what they are doing develop bad habits which become very difficult to get rid of.

And even if some of them made the conscious decision to learn more about trading to improve their results, the damage to their trading capital is already done, and recovering the money they have lost while they traded the markets without any clear intent or skill is almost impossible.

Mahanton

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Quote from: alastantiger on January 20, 2023, 06:00:33 PM

Quote from: Fivestar4everMVP on January 19, 2023, 03:31:02 PM

To upcoming traders, which category do you want to belong? its your decision to make.

The awakened trader was once a blind trader who saw the "light". I think this is like the first learning stage of the trading process which everyone must pass through. It is a good observation that the OP has made. I think there is are traders that are stuck in-between the awakened phase and the blind phase of trading.

Once you dont have the;

-Learning
-Knowledge
-Awareness
-Skills

Then you would be considered to be blind but once you do able to experience on how to deal up with the market on which you would
really be acquiring these characteristics and behavior then you would really be just become awakened one.
Everything do takes a process and its not something that could really be obtained on a short span of time.

alastantiger

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Quote from: Fivestar4everMVP on January 19, 2023, 03:31:02 PM

To upcoming traders, which category do you want to belong? its your decision to make.

The awakened trader was once a blind trader who saw the "light". I think this is like the first learning stage of the trading process which everyone must pass through. It is a good observation that the OP has made. I think there is are traders that are stuck in-between the awakened phase and the blind phase of trading.

DoublerHunter

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Quote from: Kasabus on January 20, 2023, 01:45:15 PM

Quote from: mk4 on January 19, 2023, 10:48:08 PM

What you pretty much described is a trader, and a non-trader; because I really wouldn't call the second classification by your description a "trader" — what you've described in the second part is pretty much just a gambler.

I agree with this. You wouldn’t be a trader if you only trade unknowingly and you rely on random guesses which I think is mostly the case of gambling. Once you become a trader, you already have that knowledge and working strategies that will make you successful in your trades, otherwise you will fall gambling in all your trades and expect more constant losses than gains. Trading is good and profitable, but if you are not aware of what you are doing, then better just stay away from trading.

^This means that trading is not meant for everyone, if you are not dedicated to studying and gaining knowledge in trading, you must not be that kind of making money. You should not be a gambler if you have skills in trading. How many people here consider trading a source of living? How do they survive when the market crashed?
However, people think that trading is an easy way of making money which is fact it is not. If you don't have skills in it, it is better to invest in BTC than do trading.

BitcoinPanther

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So @OP is comparing a knowledgeable trader and uninformed pretending to be a trader or more likely a gambler. I think every trader is informed, and they always do intensive research on everything. The one who do not do his homework and learn the information in trading isn't a trader at all. They are just gambler trying their luck in trading. Without any knowledge this gambling trader will try to trade an item without any idea what they are doing.

Quote from: AakZaki on January 20, 2023, 12:56:29 PM

The two classifications of traders describe a beginner in trading. Beginners who don't know anything at all and don't learn about the basics of trading are included in the classification of blind traders because they only make guesses when buying crypto assets, sometimes guessing right but mostly wrong. They risk money on blind trades without any analytical skills.

I fall into the category of traders who wake up from the start of trading. I studied it first so I could understand how the correct pattern is in trading. by studying technical and fundamental analysis I can make predictions to buy and sell, it has become a basic science that needs to be learned.

Beginner trader will still do a lot of research, they may have knowledge but lack of experience make them commit a bad mistakes. But the one(blind trader) @OP stated isn't a trader at all but a gambler.

Topic: Two Types Of Traders - My Personal Classification - page 2. (Read 460 times)