Will you advice a new trader to join a trading community or group? - page 6.

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Quote from: Bananington on March 18, 2023, 12:30:46 PM

Can there be any major disadvantage being a member of such a trading groups? What is your advice to people?

You might get overwhelmed by the tons of advices that they can give to you.

I mean there is nothing wrong with joining a trading community or group because I also joined one or two when I was still new to trading. The problem that I encounter is that, the amount of information that they're giving to a newbie is too much that you might get overwhelmed because of the terms, the tips or the strategies that they are giving. It comes to a point where I don't want to read their comments anymore because it's too much for me. I don't know if there is somebody aside from me whose experiencing this, but I see it as a disadvantage, and can affect your learning journey.

My advice? I'm not an expert in trading like most of us, but learning on your own pace will help you. This helped me learning trading. I watched Youtube videos, tried some strategies personally, and fortunately I'm getting some profits in trading already.

gunhell16

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Quote from: Bananington on March 18, 2023, 12:30:46 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?

It's your choice, no matter what group you choose, as long as you adapt the one that will be beneficial and help you.

But in my experience, even though I didn't join a group, I learned to trade based on what I actually do in the centralized exchange and DEX. But if you really want to learn, watch the tutorial trades on YouTube, even if the content creators are not detailed, you will surely get tips and lessons there.

death69

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Trading community? Look, I ain't big on rolling with a crew when it comes to trading—I'm more like a lone ranger in the wild west of stocks. But I've caught wind of success stories from traders who found a tight-knit fam in these groups. Exchanging tips, strategies, that's the main draw. But let me drop some wisdom: the most vital thing I picked up as a trader is trusting my gut and my own sleuthing. See, trading communities can sometimes lure you into groupthink, where everyone's riding the same wave and not really thinking for themselves. So, yeah, trading communities got their perks, but remember to stay independent and trust your own analysis.

WatChe

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Quote from: GeorgeJohn on March 19, 2023, 01:07:31 AM

From my previous reaction or response in this thread, they is a part I stated that joining a group might mislead you because you be taking all the advice or the informations that comes from the group as necessary one, so I believe that with your research you can be independent, because what we are emphasising on, is your capital and you need to protect it by making your own consultation concerning trading so that you will fully capture the risk which is involved into Trading and other things you will found out without someone briefing you or educating you.

You are pointing in right direction, regardless of what info you are getting from trading group or community the biggest downside is that you don't use your own mind in making decisions. In other words we rely on easy money i.e. based on other ideas and research we follow a strategy that can give good return.
It may work one or two times but in the long run one is deemed to bear losses. Make your own decisions, even if they are wrong you will learn something.

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Quote from: xSkylarx on March 19, 2023, 12:10:12 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.

Communities and groups are basic tools which enable newbies to be able to open a trading positions that will earn them enormous profits. These communities mostly dropped free trading signals in the market and they're 80% accurate. Getting intouch with top influencers and experience traders in the market when joining trading communities and groups will aides in helping a newbie become more confidence and speedy to understand how the market operates. One can not be able to learn everything alone, rather he or she needs full assistance from others who have been in the space before him or her.

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Quote from: xSkylarx on March 19, 2023, 12:10:12 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.

From my previous reaction or response in this thread, they is a part I stated that joining a group might mislead you because you be taking all the advice or the informations that comes from the group as necessary one, so I believe that with your research you can be independent, because what we are emphasising on, is your capital and you need to protect it by making your own consultation concerning trading so that you will fully capture the risk which is involved into Trading and other things you will found out without someone briefing you or educating you.

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Quote from: Bananington on March 18, 2023, 12:30:46 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?

What do you mean by relating to other people or another person? You don't need that to trade. You have to understand the market and trade accordingly. I don't believe it's a requirement to have some connection with other people or even be part of a trading community to trade. You can improve yourself in those ways, but it's up to you if you ever go on your own and try to trade on your own.

I don't think there's a big disadvantage, but one main concern is that you will be following a group, which could influence you. You could get lost in all of it and maybe distract yourself from ever trading because the trading community or something influences you.

DevilSlayer

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Trading group is good but be sure that the members are solid, there are a lot of trading communities nowadays that are consider as trash because of the toxic environment that they have. Choose a trading community that can help you to become better, a trading community that can teach you a good attitude and also to be consistent profitable in trading. I really recommend someone to join in a trading group for their own improvement because their curve of learning can lessen by joining in trading community.

What's hard is not joining, it is about choosing community. There are communities who are sharing their personal trades and for me it is not good community because the newbies will tend to become comfortable wherein they will be dependent on someone else just for them to trade. What I like is a community who will teach how to trade properly, the process and also teach you how to think like a trade while your analyzing a chart.

xSkylarx

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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.

libert19

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No, they pollute the mind. Better get some book, put lessons into practice and learn from happenings.

I say dependency is bitch, do not depend on anyone for your welfare, as much as possible and trading groups are certainly avoidable. When you depend only on yourself there is less chance for blame game too.

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As long as a recommended community or group is filled with reliable traders who are always sincere in sharing their insights on trading then suggesting such a group to novice traders is not a bad thing.

beginners can learn from the experiences of their colleagues in the community they enter. But it's just that the worry is that beginners are always easily influenced. so beginners need basic knowledge first which they can search for on their own from the internet. Joining a trading community can sometimes bring good results but can also bring bad psychological ones. like we are affected psychologically when we see other people are able to get the maximum profit easily. beginners can rush to imitate it without knowing that there are many things they have to learn first to get maximum results like everyone else.

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At first it will look strange, but I think involving oneself in a group that has a similar mindset to yours is a solution that will help you learn from them, but there is usually some disadvantage, which is that you may not really get the right or best strategy to use because some people think their own best strategy is their secret, and the only way to get that information from such people is when you are both friends. Some trading groups are just a waste of time, and I cannot possibly advise a newbie to join such groups without noting some warnings. Instead, let the newbie visit some material online and also watch some tutorials on YouTube.

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Quote from: Bananington on March 18, 2023, 12:30:46 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?

It depends on what kind of trading community group we are referring to.

There are so-called trading groups where in fact, just a shilling group offering some trading signals and so on with a paid service and subscription. On the other hand, there are trading groups that really discuss important stuff related to trading and will feed the mind of any newbies there.

If found a good trading group, there's nothing to lead newbies on that group to somehow be guided by experienced ones while still on the learning phase.

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it's always good to have a place where you could ask question related to investments and trading and I think newbies should always join that kind of community since usually newbies are lacking in experience, if the choice is to join or not to join then it's no brainer that one should be joining group for the sake of having information, etc.
but never ever take advice that's kind of influencing you into buying some random coins since that could be well just taking advantage of you since you are considered new, there has been many cases that some of these trading groups are manipulating their members so that they could gain profits.

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Quote from: Jody.Drummer on March 18, 2023, 12:55:26 PM

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.

GeorgeJohn

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Actually joining a trading group and signal groups is quite right from one perspective but in other ways it has implications, which I believe that the implications might result positive neither negative, its encouraging to be independent in anything concerning trading so that whenever you experienced lost you will not portion the blame to anyone, making good trade you most be committed by devoting time to acquire more knowledge of Trading with adequate research of Trading, joining groups might mislead you with a none valuable information.

nurilham

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I won't suggest/advise beginners or experienced traders to join any trading community/group. If they get problems in the community/group, they will blame me. Grin

We know there are too many scammers trading communities/groups, there is a big chance to be scammed there, especially for newbies/beginners. The best advice/suggestion is to focus on learning and getting experience first before joining any trading group/community. So, they won't be easy to be scammed if they already have enough knowledge and experience.

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Quote from: Bananington on March 18, 2023, 12:30:46 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?

There’s nothing wrong to join any free groups about trading, because they can help you as well especially if you raised a questions to them and want to have clarifications. Trading can be very hard at times and even if you read books doing that in actual can be different, so asking those who already have experienced in trading is a big help. What I don’t advise is to depend that much on that group, it is still better if you can trade on your own.

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Quote from: Oshosondy on March 18, 2023, 02:59:08 PM

Joining a trading community that is similar and transparent like this forum is good, although this forum trading discussion is not enough in my opinion.

Good for newbies to be careful of those telegram groups, many can lead to scam.

If the newbies already know how people can use trading services to scam and avoiding it and only believe in trading by himself, I do not see anything bad there for him not to join a trading group.

But a trader is best for himself when he do not depend on anyone or group or forum about trading.

I do not see wrong joining a legit trading community especially for beginner traders as it will open him to the realities of trading, and he can certainly learned from the experiences of other traders as long as the community or forum itself is transparent and no intentions to lure beginner traders. This is actually an advantage for them, but the bad thing is if these beginners will trade quickly because of greed of profits, once they will be tempted to use other trader’s strategies knowing some strategies may work for others but won’t work for them. It’s still best to trade on your own and learn on yourself.

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Quote from: Bananington on March 18, 2023, 12:30:46 PM

What is your advice to people?

Joining a trading community or group has many advantages and can increase our understanding of trading and can even exchange ideas among members.
But I myself would never advise beginners to immediately join a certain trading community or group, I would rather advise beginners to do their own research first and increase basic knowledge about trading.
Because in my opinion a trading community or group is currently mostly vulnerable to fraud, although not all communities but most of the current fraud communities take advantage of beginners who have absolutely no understanding and basic knowledge about trading.
So I think it's better and wiser if we advise beginners to know and add basic knowledge independently first, after they have sufficient understanding they can determine or join a community so they are not easily exposed to fraud.

Topic: Will you advice a new trader to join a trading community or group? - page 6. (Read 801 times)