With good psychological behaviors can one remain consistent with random signals?

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Awaklara on July 03, 2024, 06:14:35 AM

Traders often get the momentum too late. So traders are late in entering or late in exiting their trading positions.
Even when following the given trading signals, it also cannot be accurate. I once followed a trading signal from a channel. some are accurate, but others or more do not match the given target.

Its like a random chance, like giving four options to a set of multiple choice questions and giving the same option as answer to all question, regardless of the content of the question, yields a 25% strike rate.

Because you can never verify what was correct and what was wrong, the creators of such groups take advantage of it. Added to it the fact that members are often disgruntled traders who never want to learn trading on their own, adds to the scam.

It is a complete scam, for those who think it works sometimes and does not at times, you are free to run them and see who becomes the real winner, the owners or you.

irhact

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Quote from: 348Judah on June 21, 2024, 11:49:04 AM

Even if you're to make use of the technical and fundamental analysis we have in trading or tracking the market price, you will still need to do your own research, this will help you to know what more better and apply the right method to use, we also have to understand that either we make use of the random signals or the technical fundamental analysis as the case may be, we have to either be on the winning or losing as we cannot afford to always be accurate or inaccurate about the signal used.

When we do fundamental analysis or technical analysis that is a part of doing our own research and that is the best way to trade with more confidence. Doing everything yourself is better than depending on others, there are some things that you'll need help through collaboration or learning directly from others but don't depend totally on them or you'll be going down a path that wouldn't be good for you as you trade for a longer time. Random signals can cause you to lose as you don't know if the signals are good ones or bad ones. There are alot of fakers online and they can post fake signals just to make it look like they're good at providing signals draw attention of newbie that they're want to scam and if you don't do your own research but depend on them, you're going to lose.

lixer

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Quote from: yhiaali3 on June 26, 2024, 02:22:59 PM

I do not expect a trader to become consistent in the market by learning some trading tips with well-organized psychological behaviors as you say, of course the trader needs some advice and needs to have good psychological behaviors but he needs to gain experience and constantly develop his skills.

Therefore, in my opinion, the personal qualities of the trader, in addition to years of experience, play the main role in turning him into a successful trader, both are necessary.

It is true that to be a successful trader one must have certain qualities that enable him to trade successfully and the most important thing for that I think is patience even if a trader learns everything and follows everyone's advice, cannot succeed as long as there is a lack of patience and endurance and the right decision at the right time is the main reason for a person's success, whether it is trading or anything else in the market, I have seen that successful people place trades and close trades at the right time.

Therefore, along with learning and understanding, you also need to bring changes in your behaviour. I have seen both panic buyers and panic sellers suffer losses in different market conditions only because they lack patience and due to that, they panic a lot.

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Quote from: Luizwalter Crypt on June 21, 2024, 07:18:11 AM

Does it mean one could become consistent in the market learning just a few trading tips with well structured psychological behaviors?
What brings about consistency? Good psychology or years of experience. What do you think Huh

In trading knowledge and experience are the one you need to make sure to survive with the market volatility evey time you make a trade you will learn something with your wins and mistakes and of course you can lessen the number of losses and risk if you have knowledge how to deal with that signals. If you know how to control your self you can make a good decision making with the unexpected price action. A knowledgeable trader knows what they are doing they have a preparation stages before making their trade and they keep stick with their plan so if you need to cut loss deal with it because there's no essence to keep the position people getting more greedy are the one who losses a lot.

Finestream

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Good psychological behaviors are not enough to remain consistently earning in trading. There's more a lot to that. And to hit the reality that random signals do not last an impact in trading, then that's good to say that it can never be highly reliable as well.

Don't just trade with random signals, but trade through analysing well the market first so you can come up with good and reliable trading signals. Also, use effective trading strategies as well so you can assure higher profitability in trading.

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Quote from: Awaklara on July 03, 2024, 06:14:35 AM

Quote from: TheUltraElite on July 03, 2024, 06:02:52 AM

You sell when the price is rising and not buy. You buy when the price is dropping and not sell. These might very easy to understand but in real life when such events happen 90% of traders make just the wrong side move.

Traders often get the momentum too late. So traders are late in entering or late in exiting their trading positions.
Even when following the given trading signals, it also cannot be accurate. I once followed a trading signal from a channel. some are accurate, but others or more do not match the given target.

Our mistake as traders may be more following the FOMO we hear about to trade or immediately buy a certain asset. with simple analysis, because we are too eager to just follow the advice and the results will not be as expected.

I have tested out too on joining on a group but not a paid one because i do never ever consider on paying up for subs just to get some trading signals or recommendations if we are all considered to be speculators.

The thing you have said is true that on the moment that you do find yourself being late or not be able to execute out basing on the signal given then there would really be that feeling or urge that you would really be making up some steps on which you do know that it would really be able to cope up. If you do find yourself being having that kind of realistic approach on things then why you would really be needing up for you to make up some kind of trying to cope up everything if you could be able to wait up for another one?

Its not something a hack or whatever called it is when you do tend to find for some entries or exits. It would really be just that a matter on how broad and experienced you are
on dealing with this unpredictable space. Actions be made will really be that depending into this regard.

Awaklara

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Quote from: TheUltraElite on July 03, 2024, 06:02:52 AM

You sell when the price is rising and not buy. You buy when the price is dropping and not sell. These might very easy to understand but in real life when such events happen 90% of traders make just the wrong side move.

Traders often get the momentum too late. So traders are late in entering or late in exiting their trading positions.
Even when following the given trading signals, it also cannot be accurate. I once followed a trading signal from a channel. some are accurate, but others or more do not match the given target.

Our mistake as traders may be more following the FOMO we hear about to trade or immediately buy a certain asset. with simple analysis, because we are too eager to just follow the advice and the results will not be as expected.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: bitgolden on July 02, 2024, 12:04:32 AM

This means that one person could see how trading is done and get it in less than six months because they are that kind of smart, whereas some other person can study for many years and still have no idea how it works because their brain is not wired that way. I believe that it would be quite good in the end if we realize that part.

Trading is not just math, if that was the case, math profs would be ruling this sector, but they are not. The key to winning anything is to be cunning and deceptive. You have to learn how the market psychology works and when you can get in and when is the time to exit.

You sell when the price is rising and not buy. You buy when the price is dropping and not sell. These might very easy to understand but in real life when such events happen 90% of traders make just the wrong side move.

Also depending upon someone to tell you what to buy/sell - is the worst thing one can do.

bitgolden

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My guess was just mathematics in general. What people do not understand is that not everyone has the same type of intelligence, some people are smart in math, some in literature, some street smart, some book smart, some understand everything about philosophy and can't even tie their shoes. Basically humans do have smart vs idiot, but also smart people have various ways of being smart in different subjects.

This means that one person could see how trading is done and get it in less than six months because they are that kind of smart, whereas some other person can study for many years and still have no idea how it works because their brain is not wired that way. I believe that it would be quite good in the end if we realize that part.

michellee

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Luck. That is the different. You can have a high skills in trading but you will not always make a profit in trading. But for the lucky guy, he will make a constant profit, even he can make a big profit. You can not be jealous with what other people gets because you will gets what deserves for you someday.

Sometimes those who doesn't have a high skills in trading but depends on the signal provider just follows the signal given to him. He doesn't thinks about if that signal is right or wrong and he will confusing about that. He just buy it and wait and sell the coins follow the signal.

When someone has a high skills in trading, he will make too much calculation but he always late to act. Having a high skills in trading doesn't mean you can always make a profit but you needs other things that needed to make a profit.

uswa56

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Quote from: Russlenat on June 29, 2024, 04:28:27 PM

Regardless if one has good psychological behavior, relying on random signals will never be a wise option. Simply because trading signals can never guarantee real profitability, but one should definitely have a good trading skill and proven strategies so he will be profitable in this kind of industry. Otherwise, if you are just trading because of random trading signals given by unreliable signal providers, just forget about trading, you will only lose a lot all throughout the trading process.

What you say is very true, if we only use random signals in the trades we carry out, of course we will not be able to get any profit from the trades we make and I agree with you that to be able to make a profit on trades someone must first have a good understanding. good thing about trading and also they have to prepare themselves first before starting trading because there are many things they have to understand first before deciding to trade because if they don't have a good understanding and also skills in trading but just relying on random signals it will certainly be better do not start to trade because it is very unlikely that they will be able to make a profit from trading. Of course this is not the goal of every trading person because everyone who trades is of course looking to make a profit from the trades they make.

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Quote from: Russlenat on June 29, 2024, 04:28:27 PM

Regardless if one has good psychological behavior, relying on random signals will never be a wise option. Simply because trading signals can never guarantee real profitability, but one should definitely have a good trading skill and proven strategies so he will be profitable in this kind of industry. Otherwise, if you are just trading because of random trading signals given by unreliable signal providers, just forget about trading, you will only lose a lot all throughout the trading process.

And do take note that those random signals are not in any way considered to be a valid source as you don't know how authentic it is. Most of them are given to mislead traders so those who gave it will get the benefit from those who will take the bait. Just look at how those free trading signal groups operate, most of the subscribers are losing their money from following their advice.

It is better to learn on your own and have a grasp how trading exactly works. Though learning the TAs may not help you from time to time but learning the basics will give you fundamental analysis of what's going on with the market.

Another thing is - experience. If you have been here long enough, you can easily spot those pump and dump schemes and so you can avoid getting in the middle of it. Also, by keeping tabs on the social media channels of each project will give you a hint on where they are heading at. If you feel they are about to exit, better discard your coins fast before it is too late.

AVE5

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Quote from: Luizwalter Crypt on June 21, 2024, 07:18:11 AM

With the right psychological mind set can a trader make it with just random signals rather than spending too much time understanding all about technical and fundamental analysis?

I've been wondering how some traders suddenly become consistently profitable in a very short length of time compered to others. Some 2 years, some even in the first year with simple basic technical strategic Ideas while some spend 5-6 years or even more before becoming consistently profitable. And some are even making it with just copy trading systems.

Does it mean one could become consistent in the market learning just a few trading tips with well structured psychological behaviors?
What brings about consistency? Good psychology or years of experience. What do you think Huh

Some traders can actually be genius like that just as some members in the forum can grasp eat a lengthy thread could be about in a summary but by understanding the topic and reading few between lines.
So In trading, such traders may only require to understand the basic forms of the trade specifically the risks and how to avoid it including the trades potentials in a summary view and then, they're just good to win.

Russlenat

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Regardless if one has good psychological behavior, relying on random signals will never be a wise option. Simply because trading signals can never guarantee real profitability, but one should definitely have a good trading skill and proven strategies so he will be profitable in this kind of industry. Otherwise, if you are just trading because of random trading signals given by unreliable signal providers, just forget about trading, you will only lose a lot all throughout the trading process.

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Quote from: Luizwalter Crypt on June 21, 2024, 07:18:11 AM

Does it mean one could become consistent in the market learning just a few trading tips with well structured psychological behaviors?
What brings about consistency? Good psychology or years of experience. What do you think Huh

Take away good psychology then you see that the trader will keep learning and making psychological mistakes that could be avoided if such balance of mental and emotional strength was there. If you are not stable with emotion the trade is more difficult than you can imagine. So years of experience of experience doesn't matter and it doesn't make someone a good trader when you can't have control of emotion.

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A good psychological behaviour is to not follow random signals because it's like trusting someone you don't know with your money. If you think you have good psychological behaviour, try to learn and adapt and you will be good because those who become consistently profitable within a short period are those who have their minds at the right place and have the ability to learn things with a fast pace, it's not that they learn a little bit and then start following random signals to make their trades.

Even if you are copy-trading, you are basically giving your money to someone and asking them to trade for you, you can do that if you know someone personally and understand that they have a lot of control over their trading because of the knowledge and experience they have, but if it's someone you don't know, I don't see why you should do that instead of learning and making your trades yourself.

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Quote from: Luizwalter Crypt on June 21, 2024, 07:18:11 AM

With the right psychological mind set can a trader make it with just random signals rather than spending too much time understanding all about technical and fundamental analysis?
(....)

For me yes. Since you will be relying on other people here, if they are profitable you will also you will just copy them. The best example here is "copy trading".
For sure a lot of people who already doing this like they will not anymore learn how to trades and understand, but for me, I don't tolerate it, it's not good.

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Quote from: Maslate on June 27, 2024, 03:08:34 AM

Quote from: yhiaali3 on June 26, 2024, 02:22:59 PM

I do not expect a trader to become consistent in the market by learning some trading tips with well-organized psychological behaviors as you say, of course the trader needs some advice and needs to have good psychological behaviors but he needs to gain experience and constantly develop his skills.

Therefore, in my opinion, the personal qualities of the trader, in addition to years of experience, play the main role in turning him into a successful trader, both are necessary.

Other than those personal qualities of a trader and its experience, having a defined strategic plan in trading and sticking with it will also aid in making consistent profits with trading. Hence, discipline is very crucial in order for a trader to follow the set trading plan, otherwise experienced traders may know already when to stick with its plan or dump it instead.

Moreover, continuous education and mastering emotional control are also vital for a successful trading. Traders need to constantly learn and keep growing, so they can be more sustainable and fit the unpredictable trading market.

That is such an important part of the trading world that not many people can see. We should let everyone know that if you know what you are planning on doing, and you would like to end up with making a bigger better profit, then all you have to do is just keep sticking to your plan and you will do better.

No plan starts with "and this is how I will lose money", you had a plan and that plan had a profit planned out, then you should just stick to it and do not get worried because there are bumps on the road there. Sure, you may buy and the price may fall after you buy, if you sell because of that, then you are going to do a lot worse, but if you keep holding, until it reaches the price you hoped, then you are going to make some profit.

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Quote from: Maslate on June 27, 2024, 03:08:34 AM

Moreover, continuous education and mastering emotional control are also vital for a successful trading. Traders need to constantly learn and keep growing, so they can be more sustainable and fit the unpredictable trading market.

Yes, that's right, these are all very necessary things for a trader to have, and the point that you mentioned, I mean, "mastering emotional control" is a very vital thing, and that's why I said that this depends on the trader's personal qualities, because if the trader is unable to control his emotions, it will be easier Manipulating it, whether through greed or fear, which leads to loss.

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Quote from: yhiaali3 on June 26, 2024, 02:22:59 PM

I do not expect a trader to become consistent in the market by learning some trading tips with well-organized psychological behaviors as you say, of course the trader needs some advice and needs to have good psychological behaviors but he needs to gain experience and constantly develop his skills.

Therefore, in my opinion, the personal qualities of the trader, in addition to years of experience, play the main role in turning him into a successful trader, both are necessary.

Other than those personal qualities of a trader and its experience, having a defined strategic plan in trading and sticking with it will also aid in making consistent profits with trading. Hence, discipline is very crucial in order for a trader to follow the set trading plan, otherwise experienced traders may know already when to stick with its plan or dump it instead.

Moreover, continuous education and mastering emotional control are also vital for a successful trading. Traders need to constantly learn and keep growing, so they can be more sustainable and fit the unpredictable trading market.

Topic: With good psychological behaviors can one remain consistent with random signals? (Read 418 times)