Topic: Will you advice a new trader to join a trading community or group? - page 5. (Read 808 times)
March 19, 2023, 10:43:34 PM
Joining a community or group to learn crypto trading will really help a new traders to catch up with what other potential traders are doing in the community to maintain their incomes. There are so many things new traders can acquire from a community or group that will make them to understand all the strategies involved in crypto trading, and how to follow the steps till the right time to buy or sell is available. Since I joined bitcointalk.org , I have learned so many things that is helping me to know the type of coin to buy in a particular season that will bring income at the end of the investment.
March 19, 2023, 09:04:12 PM
As a trader, things can get difficult and discouraging if you cannot relate with any other person who will have a good understanding of what you are saying concerning trading, to solve that challenge, are you part of any trading community or group that you share tips and new strategies? What other ways can you say you have benefited from being in a community asides sharing of tips and strategies. Are you doing better than when you did things on your own. Can there be any major disadvantage being a member of such a trading groups? What is your advice to people?
Unfortunately it's hard to find a trading group whose content is sharing knowledge to improve the skills of traders, a lot of it only contains sharing about signals or sharing other things that end in fraud, that's why I prefer to leave a community group like that, but if it really exists and can help to improve our skills, why not? For novice traders it seems that it would be better to learn from tutorials on the internet and also learn many kinds of fraud so they don't fall for it when they enter trading groups. 
March 19, 2023, 08:39:47 PM
for me the first thing to do to join the community group is that we have to make our own decisions, this means that we don't just follow the analysis posted by other members, and of course that analysis is used as a consideration for our personal analysis. that way we won't be confused when there will be many different analyzes from other group members. over time we can compare and correct each of our personal analysis, so that we can find our trading style
March 19, 2023, 05:15:47 PM
Having hubs or groups on certain interests is really helpful IMO. Without them, you won't really get some insights in what you're doing and you can't really consult anyone whether what you're doing is right or you're missing some key details. I would encourage anyone who is new to trading to join a group that discusses their trades and just anything related to trading, and advice them to stay clear of groups that only discusses the next possible pump and what to buy as if the members are shoving their bags in each other's mouths. It's easy to find trading groups nowadays compared before where you won't be able to join unless someone vouches for you.
March 19, 2023, 04:52:30 PM
If there is a reputable trading group, it may not be a problem and will probably help the newbie to learn more about crypto trading. There must be some discussions and as long as the discussion is very informative without any fake info, I think it is still okay. But indeed, there must be many opinions, and ensure that your friend is not confused with them. Additionally, you must also tell your friend that trading is a high risk and not to trade immediately. learn at first by collecting more knowledge, experiences, and also opinions from the group. But, don't only follow what they do because sometimes the strategy will not apply better in yours.
March 19, 2023, 03:55:31 PM
Actually, in this condition I have thoughts that are not much different from some people who have expressed their opinions.
If indeed they join only to find more information to add to their insights in trading that will indeed be very good. But the conditions for beginners are also actually a bit vulnerable because when they enter without knowing the basics of trading and really still don't understand the ins and outs there, it's obvious this is like giving them the assumption that when they are there they will be profitable. This is clearly wrong because indeed if they think like that then they will definitely get lost before even starting.
If indeed they join only to find more information to add to their insights in trading that will indeed be very good. But the conditions for beginners are also actually a bit vulnerable because when they enter without knowing the basics of trading and really still don't understand the ins and outs there, it's obvious this is like giving them the assumption that when they are there they will be profitable. This is clearly wrong because indeed if they think like that then they will definitely get lost before even starting.
March 19, 2023, 03:49:23 PM
One word Yes, But here are some of my bits of advice before I start explaining why someone needs to join Community / Group for trading.
So joining a community can help in many ways, the primary reason for joining a community or group in trading should be to learn from experienced users. Communities and Groups can keep you updated with the market news & updates which is nearly impossible for a single person to watch out. Communities and Groups can guide your analysis and you can avoid future mistakes. These groups can work as the fuel for the motivation engine inside you which will force you to harder and more effectively. You can learn how to diversify your funds from there and much more but signals are dangerous in groups especially.
- Do not join for signals
- Do not Fall into Greed with others' stats
- Think Before following
So joining a community can help in many ways, the primary reason for joining a community or group in trading should be to learn from experienced users. Communities and Groups can keep you updated with the market news & updates which is nearly impossible for a single person to watch out. Communities and Groups can guide your analysis and you can avoid future mistakes. These groups can work as the fuel for the motivation engine inside you which will force you to harder and more effectively. You can learn how to diversify your funds from there and much more but signals are dangerous in groups especially.
March 19, 2023, 03:39:10 PM
As a trader, things can get difficult and discouraging if you cannot relate with any other person who will have a good understanding of what you are saying concerning trading, to solve that challenge, are you part of any trading community or group that you share tips and new strategies? What other ways can you say you have benefited from being in a community asides sharing of tips and strategies. Are you doing better than when you did things on your own. Can there be any major disadvantage being a member of such a trading groups? What is your advice to people?
I was part of it and got inactive. Two things that I've seen in these trading communities.
1. It's inevitable to see some sales pitches and plugs on that group especially if it's coming from the admin or moderator of that group. That's how they make money from it.
2. There are legitimate talks about trading and many discussions are just for free. But as someone who trades before, you can determine which ones are the shill and genuine talks.
I think I'm better without part of those active community trading, the forum is more than enough to look at those great traders sharing their experiences.
March 19, 2023, 01:56:00 PM
Benefits of being part of a trading community:
- Keeping biases in check
- Learning from the experience of others
- Sharing trade ideas
- Support in difficult times
- Maintaining interest
- More opportunities in the market
March 19, 2023, 01:28:19 PM
As a trader, things can get difficult and discouraging if you cannot relate with any other person who will have a good understanding of what you are saying concerning trading, to solve that challenge, are you part of any trading community or group that you share tips and new strategies? What other ways can you say you have benefited from being in a community asides sharing of tips and strategies. Are you doing better than when you did things on your own. Can there be any major disadvantage being a member of such a trading groups? What is your advice to people?
You are right that it can be discouraging to have no one to talk to about things you do or like, and it is always to have a group of people that share the same views or similar ones and who can understand you and relate to what you say, but where do you find such groups these days? All I could find are those trading groups that are locked for the general public and only admins post signals and analysis and stuff and ask to join premium paid groups.And, I wouldn't really recommend joining these kinds of groups as they do no good to you but all they do is make you join their paid groups so that they can earn some money. If they are really that much expert in trading they wouldn't need to charge people to give them a couple of signals per day.
March 19, 2023, 12:09:49 PM
Trading is an activity where we manage money, and therefore we need to take it seriously, without emotions. Over the years, I have managed to gain a lot of experience and I will tell you this: Technical analysis works, but only partially. Do not trust technical charts built on a timeframe of less than a month. Be able to track support and resistance levels. Also build them on increasing timeframes, up to a year, or even the entire lifetime of the token.
March 19, 2023, 11:45:18 AM
Yes, you should definitely join a trading community or group. But you should only join it to learn how to trade and when to trade and when not to trade; if you are only joining to get free calls from the group, then I would suggest you not do so. Trading on other people’s calls is not good, at least not for a beginner. If the call turns out to be good, then you're going to praise the person who gave you the call, but if the call turns out to be bad and by chance you lose your hard-earned money for it, then you're going to curse that person for the rest of your life. So it’s important to learn trading from scratch. If you are a newbie, then it’s better to have theoretical knowledge at first, then go for live trading.
March 19, 2023, 11:35:46 AM
As a trader, things can get difficult and discouraging if you cannot relate with any other person who will have a good understanding of what you are saying concerning trading, to solve that challenge, are you part of any trading community or group that you share tips and new strategies? What other ways can you say you have benefited from being in a community asides sharing of tips and strategies. Are you doing better than when you did things on your own. Can there be any major disadvantage being a member of such a trading groups? What is your advice to people?
From onset I always read educative threads related to trading on this forum and also member of forexfactory where trading strategies and tips is discussed, though it mainly on forex trading and I must confess I had learnt a lot from those communities with regards to trading tips, learning fundamental and technical analysis and testing of different trading strategies and there isn't any disadvantage for being a member of those forum infact I always eager to read latest information on possibly upcoming trading opportunities related to a particular trading strategy. 
March 19, 2023, 11:28:29 AM
...are you part of any trading community or group that you share tips and new strategies?
No man is an island just the same way a tree can't make a forest. It's highly advisable that traders should belong in a trading community they find fit, despite how learned or professional they think they're. If they aren't learning, they will be teaching noobs. Knowledge shouldn't be hoarded. It's either one is giving or one is receiving when it comes to life (trading).Quote
Are you doing better than when you did things on your own.
Yes, as a trader, I also belong to certain trading communities. Belonging to them doesn't mean that one will always take whatever trade calls or perspectives made therein. However, I'm better off being in these trading communities than if I weren't. They helped broaden my horizon.Quote
Can there be any major disadvantage being a member of such a trading groups?
Nope, there shouldn't be any disadvantages. One doesn't lose anything cross fertilizing ideas with others. Nonetheless, one has to be very careful to avoid scam groups. 
March 19, 2023, 10:21:28 AM
If it is for the purpose of accumulating knowledge as well as exchanging experiences or skills, it should be encouraged. But if he is lazy and joins groups or communities for the purpose of looking for signals or copying someone's trades, then that should be banned in the first place. But to give advice on a particular group is beyond my ability as I am not aware of such groups myself, I have never tried to find or contact anyone for this purpose. I'm not good at trading either, but I'd rather spend my money in exchange for the experience than give my money to someone else to spend.
March 19, 2023, 10:10:27 AM
Can there be any major disadvantage being a member of such a trading groups? What is your advice to people?
I think the real question should be what should newbies consider before joining an online trading community. Mind you, it is totally safe to join an offline trading community organized by friends. Basically, it is like the pros and cons. Some pros of joining an online trading community for newbies is that, they get the opportunity to get support from community members, they would have access to trading resources which will be tailored to meet their needs at the newbie level, it will also serve as a platform where trading ideas, tips and tricks are shared. However, do not just join any group, what is their reputation like, does your trading goals and interests aligns with that of the ? Consider these questions and have them in mind when doing your research on the group. If this group claims that it will help you to profit, or that they are professional traders, or that you follow their trading strategy, or any form of payment to members of the group, then it is better to stay away from those groups because you will not learn, but rather you will be exploited to make an investment that will benefit them.
Open groups in which people share their opinions and analyzes away from any biased point of view are the best, and Speculation board in this forum is an example of that.
Open groups in which people share their opinions and analyzes away from any biased point of view are the best, and Speculation board in this forum is an example of that.
I totally agree with this point. Me thinks that this is where most newbie traders get it wrong. Because they are in a hurry to make $1000 in first 30days, they easily fall prey to so called trading gurus who talk big and promise them the masterclass of their life that will turn them into millionaires in 10 days if they can buy their course, book a seat in their class so as to take advantage of their award wining trading strategy.
March 19, 2023, 10:05:30 AM
As much as possible, I will not suggest or advise a beginner to join a trading community but instead, I will suggest legit resources where he could learn more about trading which will be helpful for him to grow in trading industry. If he knows the basics as well as the risks of crypto trading, then that's the right time for him to join groups. Joining trading community at an early phase might only cause him confusion and it might plant a wrong mindset in a beginner so it will be best for him to focus on educating himself first.
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March 19, 2023, 09:40:34 AM
I used to be a part of a community or trade group on WhatsApp before but now I prefer to be a passive member who doesn't chat much with other people and only with people I know closely. And in the past, I've often recommended new people I know to join me so they can learn from people who know more about trading.
In the WhatsApp communities and groups, beginners (my friends) can learn a lot about trading, tips and strategies or ways to analyze and we all learn together through those groups and communities. We can also introduce other beginners to join, but we must first get to know the members who have joined the community or trading group so that beginners feel comfortable when they join.
In the WhatsApp communities and groups, beginners (my friends) can learn a lot about trading, tips and strategies or ways to analyze and we all learn together through those groups and communities. We can also introduce other beginners to join, but we must first get to know the members who have joined the community or trading group so that beginners feel comfortable when they join.
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March 19, 2023, 06:40:45 AM
Even if you don't understand what they are saying or can't relate to it, later in your journey you will realize and understand it. It is really recommended for someone to join a community or group because you can ask them questions. This refers to like joining trading forums; there are threads there for newbies, meaning you can understand them so you keep reading and asking questions there. This sort of thing helps you improve easily; find another person that you can ask and rely on, and mostly, you can hang out with them to have fun.
That's only the essence of it; the person gathers a lot of information or lessons that would still be useful as they keep improving, but the disadvantage is that the newbie, who may really want to make quick profit, will want to try almost every suggestion or strategy, which can result in a loss for them. But if the newbie gets lucky, they can have a friend that may be willing to help them all along, and they could easily ask questions in the group if they make mistakes. I just think it is wise to warn a newbie about some dos and don'ts before advising them to join a trading group.
March 19, 2023, 04:27:17 AM
I will not suggest and I also will not prohibit beginners from joining communities or trading groups. That can be fine as long as the goal is to gain knowledge and share experiences with each other on what to do in trading. Also it will not be good if the initial goal is wrong, such as following other people's trading methods, or swallowing what people in the group say. And also don't be mistaken for having a trading community or group, because many of them only take advantage of new members for their own interests, such as selling trading signals or something like that.
There are actually some advantages on joining a trading community, you share trade ideas, you learn from the experiences of others, you find immediate friends to support you on your trades especially when you’re devastated, and while the interest keeps growing, your learning will also not stop. However, if you join these communities to pay others to do trading for you, that is a disadvantage on your part. Although you can be stress free and trade effortless, but in the end you learned nothing and just become loser when those people who trade for you will leave the community. It’s good to engage yourself in a trading community, but never rely on them for your decision making in doing your final trades.Indeed, to increase knowledge is a good thing, but we cannot be completely complacent with it because we also have to keep learning to be better so that the condition is not detrimental to ourselves in the end.
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