Two Types Of Traders - My Personal Classification - page 3.

palle11

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

Trading is good and profitable, but if you are not aware of what you are doing, then better just stay away from trading.

Of course being aware of what you are doing is to understand that you don't need to trade like game and relying on guess work. Trading is more practical than theory which is mainly reading of trading processes but you actually need to trade physically to ensure you feel the experience of live trading which is more of emotional than having demo trading.

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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.

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Quote from: hd49728 on January 20, 2023, 11:23:00 AM

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

My Two Types Of Traders Are -

The Awakened trader
The Blind trader

Differences between them are knowledge that is basic for everything more. However, only knowledge is not enough and a biggest difference between them in my opinion is patience.

Blind traders can be traders without knowledge but even if they spend time and money to learn knowledge, if they are lack of patience that is important to have discipline for trading, they are still blind traders.

When a trader breaks what they learned and knew, to open orders because of greed and ignore risk, they are blind traders even though they know.

If you know about trading then you will know how to be patient because you already have an idea about the movement of the market. Awakened traders are experienced traders who have learned from their mistakes and doing everything to learn continuously about trading. Blind traders are those who are always repeating the same mistakes and still don't know how to deal with the market and they are more like gambling and risking their funds all the time.

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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.

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The second one seems to be less effectivr but he could gain or loss in the process without much advantage of the market volatility. Maybe his more appropriate to gambler, mk4 is right about that since he just guessing which direction his spot trade would go. But with a simple ta or knowledge he could predict a plausible movement which has higher rate of success instead.

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

My Two Types Of Traders Are -

The Awakened trader
The Blind trader

Differences between them are knowledge that is basic for everything more. However, only knowledge is not enough and a biggest difference between them in my opinion is patience.

Blind traders can be traders without knowledge but even if they spend time and money to learn knowledge, if they are lack of patience that is important to have discipline for trading, they are still blind traders.

When a trader breaks what they learned and knew, to open orders because of greed and ignore risk, they are blind traders even they have knowledge.

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

Based on personal experiences in trading, personal research and observations, ive on my own personal terms, come to the conclusion that, there is two types of trader, and how risky trading be for an individual, depends largely on the type of trader such an individual is..
So without wasting much time, lets dive in..

My Two Types Of Traders Are -

The Awakened trader
The Blind trader

The awakened trader is one who took their time to study all that there is to trading, including the rudiments, intrics and mechanics, they can read charts, they can effectively do technical and fundamental analysis, they know how important news drives the market and they follow news bumper to bumper.
I personally will chose to see trading as an art rather than science, art can be mastered, and so is trading, those who master the art of trading, we call them professional traders, trading is their profession, this is how they carter for themselves and their family, they are the awakened type of traders, there are very few traders in this category.

The blind trader on the other hand, are traders who guess-trade, they buy Bitcoin, not because they are sure it will go up in the next minute, but because they are hoping/guessing it will, some times, they guess right, but other times, their guess is wrong, trading is like sports betting for them, it is BUY vs SELL playing the match, they watch out for which side other people are contributing more to, are more people buying?, they will buy(FOMO), are more people selling, they will sell(FUD), they lack the will power to make there own original decision and stand by it, this is because they are not even sure of what they are doing, they are just guessing the market, this type of traders are the blind traders, there are very many traders in this category...

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

I think there is also the category of the Pseudo-Trader. He did not actual study the fundamental or technical analysis but proceeds with his own thought-out strategy which is purely based on coincidences or fake analysis from influencers who pretend they know how to trade.

Myself, I studied as much as I could and continue to study to this day. But really, its not something you can learn but something you have to also experience in order to learn. Which explains why I lost so much money trading as a newbie. But now I see that lost money as education fees.

I would say that its definitely better to learn this stuff from a reputable source.

jrrsparkles

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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.

pawanjain

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It's basically the one who knows all and the other who knows nothing. Obviously everyone would want to know all and would chose to be the awakened trader as you call it.
But the journey to be the same is where most give up and eventually fall into the second category.
It requires hard work and patience which is not present in many of them. This is why most of the traders eventually gamble their trades.

palle11

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Based on the terms of OP, I want to simply say that it is blind trader that will give rise to awakened trader. It is the state of blindness that will make you want to wake up from your mistakes. A scenario of a blind person seeking for sight is handy here. If you are blind, you will wish that you get sight so we won't leave out passion here. Your passion is a contributing factor that will keep you going but if you lack passion then a blind trader will one day give up just like every other endeavour in life.

armanda90

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Its seems I am in blind trader due less analyze about Bitcoin or altcoin price before trading, but I don't hype when trading in cryptocurrency and have little research about when support price and waiting until reached lower price. I don't think with blind trader always fault due they only entry when having right time with Bitcoin or altcoin at lower price.

I don't sure have been expert and become awakened trader where active analyze and make any research because whale have important thing for Bitcoin and altcoin going drop, we can make chart and doing research day by day but when bad news coming price will drop drastically without unpredictable.

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Quote from: Oshosondy on January 20, 2023, 05:14:35 AM

Quote from: Mpamaegbu on January 20, 2023, 05:04:22 AM

Again, we've to remember that it's not true that there aren't traders who make a living solely from their trades and depend on doing some other businesses.

It is not about it is not true, there are some things newbie traders need to figure out themselves. Telling newbie traders to let them be thinking of trading as a way to make a living will only create a bad mindset for the newbie traders from the beginning and a means they can lose more than they can they think. If a trader is making money from trading, there are some things that will come his mind by that time.

Well, as a teacher I like to tell my students all there's to what I'm teaching them. I let them know the facts from the beginning and not hide anything from them. If I know of a trader I can cite as an example who is earning well at the time I'm teaching them I don't think it's good not to let them know of it. For me, it's a no holds barred situation when it comes to knowledge. So, are you saying newbie traders shouldn't be told that there are traders who live on trading because you don't want them to start thinking they too can achieve that height that early? I believe not laying it bare will even limit the potentials of the newbie traders.

Johnyz

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Blind trader is not a real trader, if you execute your order with your guess most probably you gamble that money.
Trader should always depend on their own analysis, you might still need a luck in trading but of course you should not depend on that.
Newbies or beginners should go on the process of learning how to trade because there is no shortcut for that, it takes a lot of sweat and sacrifices but if you are more willing to learn you can achieve it. Trading is fun and profitable once you master it, don't waste your money and time by just guessing.

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Quote from: libert19 on January 19, 2023, 07:55:49 PM

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

The awakened trader is one who took their time to study all that there is to trading, including the rudiments, intrics and mechanics, they can read charts, they can effectively do technical and fundamental analysis, they know how important news drives the market and they follow news bumper to bumper.

I wouldn't say that 'awakened traders' are all-knowing guys but rather they know technique that works for them and stick to it. Also the trader ain't the one who is always right but the one who knows when to quit a trade and knows how to preserve the capital.

They are people who are willing to learn to know everything there is to know in trading. Of course they won't be 100% right either, but it is traders like that who will become highly skilled traders in the future. As said they know when they have to do something. Meanwhile, traders who only guess and guess where the price will go, I prefer to call them gamblers, because every trader must have knowledge about it. The reason is, if you just guess, everyone can do it very easily, and the results will be correct if they are lucky, and lose if their guess is wrong.

el kaka22

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When a market got lots of manipulators, your all analysis will never help you to make profits. So, regardless of your efforts on studying the market sentiment, you will become a 'blind trader'. These days, every market is controlled by whales and you cannot escape unless you keep your targets and stoploss small. It means you may get chances to make profit within the manipulations but not per your analysis.

In my experiences, no trader can remain as awakened trader all the times but can escape from not being a blind trader by understanding the patterns of whales' manipulations. I mean these days we need another kind of analysis to spot out whales' actions to secure out status of being a profitable trader.

Oshosondy

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Quote from: Mpamaegbu on January 20, 2023, 05:04:22 AM

Again, we've to remember that it's not true that there aren't traders who make a living solely from their trades and depend on doing some other businesses.

It is not about it is not true, there are some things newbie traders need to figure out themselves. Telling newbie traders to let them be thinking of trading as a way to make a living will only create a bad mindset for the newbie traders from the beginning and a means they can lose more than they can they think. If a trader is making money from trading, there are some things that will come his mind by that time.

Mpamaegbu

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Quote from: Oshosondy on January 20, 2023, 03:27:02 AM

I am not new in trading, I was not a blind trader, but I did lost money when I started trading, to be a professional trader is not a day job.

Every trader loses money, inclusive of profitable ones. I used "profitable" instead of professional because I believe profitable traders last longer in the business than professional traders. Both make money but one outlasts the other in the business. I've read about certain professional traders who later got wrecked. Sometimes professional traders get carried away by their wins and become too arrogant and mindless of their trading plans. Once that happens, it often leads to burnt or wrecked account. Again, we've to remember that it's not true that there aren't traders who make a living solely from their trades and depend on doing some other businesses. There are traders like that, only that the number is infinitesimal.

Oshosondy

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I am always surprised some people say that people should write down their mistakes, but trading is not like that, you should know all offhand. You trade and you have the experience.

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

this is how they carter for themselves and their family, they are the awakened type of traders, there are very few traders in this category.

Depend on other things, do not depend on trading to feed your family.

I am not new in trading, I was not a blind trader, but I did lost money when I started trading, to be a professional trader is not a day job.

bettercrypto

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

Based on personal experiences in trading, personal research and observations, ive on my own personal terms, come to the conclusion that, there is two types of trader, and how risky trading be for an individual, depends largely on the type of trader such an individual is..
So without wasting much time, lets dive in..

My Two Types Of Traders Are -

The Awakened trader
The Blind trader

The awakened trader is one who took their time to study all that there is to trading, including the rudiments, intrics and mechanics, they can read charts, they can effectively do technical and fundamental analysis, they know how important news drives the market and they follow news bumper to bumper.
I personally will chose to see trading as an art rather than science, art can be mastered, and so is trading, those who master the art of trading, we call them professional traders, trading is their profession, this is how they carter for themselves and their family, they are the awakened type of traders, there are very few traders in this category.

The blind trader on the other hand, are traders who guess-trade, they buy Bitcoin, not because they are sure it will go up in the next minute, but because they are hoping/guessing it will, some times, they guess right, but other times, their guess is wrong, trading is like sports betting for them, it is BUY vs SELL playing the match, they watch out for which side other people are contributing more to, are more people buying?, they will buy(FOMO), are more people selling, they will sell(FUD), they lack the will power to make there own original decision and stand by it, this is because they are not even sure of what they are doing, they are just guessing the market, this type of traders are the blind traders, there are very many traders in this category...

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

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.

mk4

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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.

Topic: Two Types Of Traders - My Personal Classification - page 3. (Read 486 times)