Topic: You are also like them? - page 2. (Read 878 times)

Then, in the end, all of those people who join the group will suffer losses after experiencing better during their early days.
Honestly, I do not trust these signal groups, though I was able to watch their videos but it never meant that I was following them. The wrong thing that happens with some people (newbies) is that they easily believe these influencers without doing research. So, no wonder they also suffer losses having the fact that they don't have knowledge and idea about the market. Because these scammers will find ways to attract investors and innocent people, they even invest money for this just to make people think that they are real and can be trusted.

Yes, indeed that is one way to attract more people. In this case, when there are more and more group members on their channel, this will definitely strengthen their position to ensure that their group is trusted and full of reputation. And they also make several price predictions and share about take profits within the group. The next problem that happens is that they always offer a VIP group for members who want to get signal services and also more significant and large amounts of market analysis. Of course they provide some interesting potential for users. But of course this really doesn't guarantee that our condition will be much better by joining this trading signal or having a meeting with conditions like that.

You got it, point to point, they basically do those videos just to attract investors, to invite them into their group chat like telegram or such, some is legitimate and you will surely receive either signals or they are the ones that will handle your trading account. But it is also the way scammers do, because many people easy shined to the words their hear and earning they see from those eye catching videos scattered in every social media platforms. I once believe that scheme but I come from my senses and just learn on my own, becauss its better to trade based on your own analysis and chart mapping than following videos or other people that you don't know of its true or guaranteed legitimate. But I still follow some I proved that they offer legitimate and accurate signals, because of course there are still few peoples or traders in youtube or in other platform that concerns and want to help other traders especially beginners.

That's true but sometimes even the pros rely on someone. Imagine you are doing all kinds of stuff and you have little to no time to give on trading analysis. So a quick solution could be to just open up YouTube and watch some videos. Not the best solution to be honest but in a time like that, it is logical for one to do that. And for a pro trader, one or two losses won't be that much of a big deal. But the main problem arises only when it comes to newbies. They are clueless about what is happening and what should they do.
If a pro trader watches the video they will know what is going on and if there's something wrong with it then they can correct that and do trades. But a newbie will never be able to do that. They will blindly follow whatever they are showing in the video.

Youtubers make money from views. So they will do anything to increase that. Never fall for that. As long as you aren't able to do trades on your own, don't do it. This is what I want to say to all the newbies out there.

There’s no problem with well experienced traders as they surely have their own trading analysis and predictions that are more reliable compared to the YouTubers online. But for these new traders that can be easily lured by too good to be true videos, then the problem never stops. That is why trading is actually not for everyone since what we need here are the real knowledgeable and capable traders that can sustain the market’s uncertainty. Not those traders who are more eager with the quick profits that they can obtained from trading, when in reality all they gained are just losses because they’re not capable to make successful trades.

However, we can’t also blame these YouTubers who claim that they know everything about bitcoin. They need that to attract their viewers as they can gain maximum income if a lot of viewers will follow their predictions. But the final decision is already on us whether we find their analysis highly reliable or we just need to focus on our own to achieve better and positive trading results.

more of overly inflating their own capability and assesment to make TA, they'd make many mistakes and just go on with it becasue they are so confident, the result are just series
of trash analysis that causes many to lose.
its always like this with many influencers, shout as loud as they can so that everyone knows they exists, doesn't matter if what they are shouting are just some bullshit.
same thing with the many influencers that gives financial advice, even though they said its not financial advice, but clearly they are
trying to influence the financial decision of many people.

TA can be effective, but influencers with their ability to exaggerate everything they say and touch have created this myth that it is an infallible tool that allows them to perfectly predict the future, and when anyone that watches their different streams and videos tries to follow their formulas they find this is not true, now we know that a great deal of what we watch on TV is not true and we do not care, however when the advice those influencers are giving can be used by others to lose their savings, that is when it is clear their lies have gone way too far and they must tone it down.

When it comes to speculations then we could really be able to spam out on whatever things that we do look into the market, it cant be considered right or wrong not unless the results or outcomes would really be getting in line on what you had predicted and this is why we do see that there are predictions which turns out to be true which we do have that kind of impression that it was really that precise and this is where we do really decide on following someone just because we've seen that he's really that good on making those technical calls on which this is something that would really be convincing us to follow and its really that a common mistake i should say but on the time that we do realize on whats the real deal then you would really be able to find for yourself that it would really be just that possible on making out your own trading decisions without needing to see others analysis.

So called experts and gurus does really exist on this market and if you are really just that blind and follows them without really that much in concern about the risks then you are really that putting yourself
on big regret once those signals turns out to be a loss. Its better to have a loss but it would really be on your own analysis which it doesnt really give out that kind of sick feeling
not like when you do rely on someone.

Nah, I don't do charts, they overwhelm me. Also, realized long ago so called technical analysts's bullshittery. People who watch them are newbies, and these YTbers feed on their ignorance, unfortunate is that there are always newbies to prey for.

I agree, that's not really the point of Technical Analysis neither, you are making an analysis but that doesn't mean that it has to come out true neither, that should be something that we could end up being a little different. I get that we are going to end up seeing analysis that turns out to be true but we are going to end up seeing ones that turn out being wrong as well so all in all it is not going to be all that easy to predict.

We need to just use that as a way to just understand the market but that's not going to be all that weird. We need to realize that it is not going to end up being all that easy to handle and shouldn't really be something that we could benefit from neither, it just can't be all that good in the end.

The important point is that we should not trust other people too easily, watching other people's analysis on YouTube or in other places is fine as long as we also have our own knowledge and beliefs.
In trading we risk what we have, so it is better that whatever results we get must be from what we have decided.

At the beginning of my trading, I was often influenced by what I heard and saw, until gradually I realized that I had been wrong all this time.

You need to extend your time learning more and not just to follow those creators, being keen to succeed it's more on how you will
try finding the right patterns and the right treatment in this kind of market,

I personally agree that using the amount that we can afford to lose is one of the good factor to learn more about trading, with potential to become
volatile, if you are using the amount that you are willing to let go, there's no problem if mistake take place, but the knowledge that you learn is more important.

I personally am not good at carrying out technical analysis, but I have also seen channels on YouTube and Telegram that provide technical analysis for free. And try to understand the basics of the analysis they do. But I personally am not someone who easily trusts the results of other people's analysis. Because for me analysis based on fundamentalist news would be much better. Because the response of market players is always clear to see where they are directed by published news. So we only need to look at the market sentiment and start following the trend that is being formed. But to determine the best position for entry and exit, technical analysis is still needed for me. But technical analysis alone is not enough to make market price predictions. Because movements in the market are much more complex and there are many factors that influence its movements and these are the factors that we must study so that we can use them as material for analysis in our trading.

First and foremost, I am not a fan of these Youtubers doing ridiculous clickbait thumbnails of BTC and other cryptos going on 10x, 100x or so. It's like they are on shilling mode not caring about the subscribers but only on the views and revenue from Youtube ads.

One of my friends who is a Youtube crypto influencer is also like that and has his own Patreon subscription packages for his TAs, etc. Despite that he's my friend, I am not a fan of his clickbaits and predictions as technical analysis aren't offering any guarantees at all.  

I would rather follow those content creators who are ethical and more on realistic education about BTC and other cryptocurrencies. This is what I have been doing where I just simply feature projects without encouraging nor discouraging anyone to buy this, buy that, etc., as I am just more on education and pure information purposes.

Therefore, going back to the OP's question, I ain't like them and I do not see myself to be like these crypto Youtubers making nonsense predictions here and there just to gain more views, subscriptions, etc.  

It will always look like a comedy show if we see it from the real technical analyst point of view. Since we all know that bitcoin moves unpredictably then no one could take an edge on it and just predict the bitcoin movement as if he knows where is bitcoin actually heading. And YouTubers are actually doing this because they want to create an impact to their viewers that they are really knowledgeable and very confident on their predictions when in reality, they really don't know what will bitcoin look like in the future and it seems that they underestimate the real potentials of bitcoin.

However, this is not really surprising for all YouTubers as they are not here to educate the people about bitcoin but to make an income out from bitcoin predictions and promote projects that are actually not reliable. Since they sugarcoat those projects and now they become projects will high potentials to succeed in the market, then here comes these less knowledgeable investors who are only here to find quick profits out from those too good to be true projects.

Cryptocurrency is very risky, we invest at our own risk, that's why it's clearly stated that we should invest the equivalent sums we can afford to lose and not risking all our monetary value on just a project with high expectations, unknowingly to us that it will crashed without our idea. YouTube content creators have absolutely nothing to offer, only there to procrastinate and engaged in projects that they tend to be paid certain agreed fee for the purpose of promotion. We know them but won't start mentioning names because they're all over YouTube and persuading the viewers to subscribe to their channels.

I know right, they're comedians and later with their videos there's always the sales pitch from their own courses on sale.
That's the funny part, I don't understand these people that are learning from them as they say but it becomes their another source of income aside from trading. If they legitimate make money, they just make themselves prosper through trading. Don't get by their justification about they just want to teach other people make money too.

That is only possible if you as a viewer are already aware of what's happening and what the guy is saying, but if you are new in the whole trading thing and don't even have any idea, you will most probably be misguided because the ideas that you might gain from them might not actually be totally accurate and on point, and you might struggle if you follow their signals and suggestions.

That's definitely the way to go, but yet again, if someone is new in the industry and doesn't have any idea about anything, there is a high chance that they will get the wrong influence. That's why, it's always important that someone who is new uses multiple sources to verify any information they get from any person on any platform including YouTube, Twitter (now X), Facebook, or anywhere else.

They won’t be so called effective crypto influencers if they don’t act like technical analysts. So these YouTubers pretend to know everything about bitcoin and make wild predictions as if they’ve seen it really coming. But the reality is they really don’t know what they’re talking about since they do their jobs not because they are highly capable and knowledgeable to do it but because they are making a good compensation of it. And only real bitcoin analysts can prove it since they have been in the market for years watching how bitcoin and the rest of crypto works.

However, we can’t generalized this kind of thought because we all know that there are also YouTubers who have been doing their jobs from their best of abilities and skills. They don’t care on their earnings but they focus on more on how they’ll educate the people with facts about bitcoin and the crypto market, so they won’t be blinded by some too good to be true projects that will only scam them in the end.

It's frustrating how misleading content is everywhere and even in social media, fake news is all over the place yet many people still fall for it. Especially on youtube where content creators often just want to gain profits without bothering to dig into the real facts about cryptocurrencies. Ofcourse we can still consider to watch youtube videos to get an idea, but we still have to be smart about it and only to the extent that it is because we are weighing which one to believe and which is not. Just because a video is there doesn't mean it's true, we still need to verify our facts and watching one video about cryptocurrencies does not necessarily mean that it is correct.  Good thing we have this kind of forum as this serves as another source of clarity. It is still up to us to make learn and make the decisions.