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Author Topic: skills about forex is integral of a trader's success.  (Read 342 times)
Idrisu
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April 08, 2017, 09:24:31 PM
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Skills about forex is integral of trading success.because forex and bitcoin trading is easy to go into, doesn't not mean it did entail due diligence in trading it successfully. The traders should create time in demo trade in other to developed their skills and experience on how technical and fundamental analysis works. Professionals are the one making it in trading amateur traders are the one providing the money for professional's profit.
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April 09, 2017, 02:29:37 AM
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I agree.  Forex and cryptocurrencies are the easiest markets to get into, but are very hard to succeed in because they're so volatile and often are based around short-term investments.  This kind of quick reaction skill is important for an investor to trade successfully.

Amateur trading is fine though as long as you're only playing about with small amounts of money.  You don't need to be on some sort of "demo mode", you can just put a bit of money into Poloniex or something and get trading, as long as you're not expecting to get rich from it.

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April 09, 2017, 03:21:59 AM
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things are a lot different in Forex trading than it is in bitcoin and then it is nothing like trading altcoins.
in Forex the market is huge and analysis,... works well there but still is a little unpredictable.

in bitcoin trading, you can be sure it goes up so you have a safety net even if something unpredictable happened and you made some wrong trades. and analysis works a little.

in altcoin trading nothing works, no analysis no prediction, nothing. it is all manipulation and pump and dump. you should always buy it low and sell at the speed of light when price goes up or otherwise lose money when they dump it. and that is the skill in altcoin trading.

Buying the dip...
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April 09, 2017, 03:37:14 AM
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things are a lot different in Forex trading than it is in bitcoin and then it is nothing like trading altcoins.
in Forex the market is huge and analysis,... works well there but still is a little unpredictable.

in bitcoin trading, you can be sure it goes up so you have a safety net even if something unpredictable happened and you made some wrong trades. and analysis works a little.

in altcoin trading nothing works, no analysis no prediction, nothing. it is all manipulation and pump and dump. you should always buy it low and sell at the speed of light when price goes up or otherwise lose money when they dump it. and that is the skill in altcoin trading.
Depends what altcoins you're trading.  Some altcoins stay pretty stable up high even if there has been clear manipulation (like ETH).

Even with altcoin trading a lot of analysis can work, such as the background of the coin, developers, the coin's aims, etc.  That's the sort of analysis that most people who trade altcoins need to take part in to avoid losing money.  The great thing about altcoin trading is that most cash going into it is dumb money and you can completely take advantage of that without having enough money for a pump - most newbies don't do this analysis before buying the coin.

Also, with Bitcoin there is never actually a guarantee that the price will rise.  It's a very risky trade in itself, and the price rising for a long time is only because people keep investing in it, when in fact Bitcoin naturally would be inflating due to an increase in supply.
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April 09, 2017, 02:11:03 PM
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Skills about forex is integral of trading success.
why not simply use necessary or mandatory or essential! Grin

Quote
because forex and bitcoin trading is easy to go into, doesn't not mean it did entail due diligence in trading it successfully.
actually getting into bitcoin or altcoin trading is very easy to get into but getting into forex trading is harder and takes more steps. and being successful is easy but it won't come to you cheap you need to work hard on it and start from the bottom.

Quote
The traders should create time in demo trade in other to developed their skills and experience on how technical and fundamental analysis works.
TA alone is not good and specially in bitcoin and altcoin trading it becomes much more useless.

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Professionals are the one making it in trading amateur traders are the one providing the money for professional's profit.
being amateur doesn't mean being an idiot. there are many small time amateur traders who are making profit and never losing.

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April 09, 2017, 06:34:48 PM
 #6

Skills about forex is integral of trading success.because forex and bitcoin trading is easy to go into, doesn't not mean it did entail due diligence in trading it successfully. The traders should create time in demo trade in other to developed their skills and experience on how technical and fundamental analysis works. Professionals are the one making it in trading amateur traders are the one providing the money for professional's profit.

forex trading and bitcoin trading is not easy friend, if only trading is very easy, but if you want can get much profit, and youre can get constant profit i think is very dificult, if you say easy and you can get much constant profit i think this now you rich
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April 09, 2017, 06:41:39 PM
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Professionals are the one making it in trading amateur traders are the one providing the money for professional's profit.
Perfectly said  Wink

Newbies always get trapped into experts move/manipulation. They become panic so easily even with a single piece of FUD and quickly make trades during peak and dumps.

Newbie = Easily get panic by FUD/HYPE ------> Created by whales/experts ------> profit to whales

 
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April 09, 2017, 06:47:19 PM
 #8

Professionals are the one making it in trading amateur traders are the one providing the money for professional's profit.
Perfectly said  Wink

Newbies always get trapped into experts move/manipulation. They become panic so easily even with a single piece of FUD and quickly make trades during peak and dumps.

Newbie = Easily get panic by FUD/HYPE ------> Created by whales/experts ------> profit to whales

Correct. This is the newbie mistake than you mentioned. However, this mistake will make or break a trader. Because to be a successful trader once must once better judgement and not listen to FUD rumors because you panic and sell your investment. Although making mistake is bad, it may be beneficial to some because you learned your lessons already and will not likely to make the same mistake again.

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