Trading without knowledge

[Cosbycoin]

For me, I think it is not a good idea to trade without having some knowledge. It is like playing a video game, but you were framed as a ‘noob’ because you do not know what you are doing to compete with them. I think it is better that you should know first the basics of trading before calling yourself an experienced one.

Trading is not a random or luck based profession. It requires skills and those don’t come from sitting idle, doing nothing. In order to become a trader, reading is to be done or else it would be like walking with close eyes in a dark valley.

After all, this is considered as one of the most risky profession present the world is aware of. I would also suggest to gather as much knowledge as one can regarding this job.

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[Ushono]

Trading does not depend on emotions, trading is a primitive mathematics. In the market you bet up or down and pay a commission. The exchange makes an income from your commission.

[icecream sandwich]

A lot of people do trading even if they don't know nothing about it and some people succeed on that but most of them failed.
One of the reason why I think they do that, is because of GREED which can result to a big loss for them.

Start with education, make a lot of research, do some practice trading online
and use it later on in real life. Don't rush to earn money because in trading its hard to do so.

Are you a trader in mind but scared inside?
Be more patient, develop your emotion and win in this market.

That is the dumbest thing you can fo because you are just gonna waste your money it is like going into a sea or ocean without knowing how to swim. Yes you are just gonna drown yourself, so if you are planning to enter this kind of business i might suggest that you mught have at least a background in this thing before joining. Because you might get surprised on how this thing works and you might regret joining this anyways if you lose but you will wim think always.

[dettihegedus]

If we start a new business, it is best that we invest a lot of time to learn the knowledge of the cryptocurrency market, because the trade needs knowledge. We should buy some books or internet to read and learn about the market and crypto. In particular, we should participate in this forum to learn more about real-world experiences and know the trends of the market. if the trade without knowledge, no news we are very easy to make mistakes and capital losses.

[donte872]

Trading does not depend on emotions, trading is a primitive mathematics. In the market you bet up or down and pay a commission. The exchange makes an income from your commission.

Sorry I don't agree with you, I don't think so. In my opinions, knowledge is also important in trading and every aspect. You only do something well whenever you have intensive knowledge about it. There are several reasons why I said that. For example, If you don't have knowledge about Birtcoin, you won't know the following lessons:

HERE ARE SOME LESSONS TO DRAW FROM THE CURRENT BITCOIN FEVER.

 - Don't invest in things you don't understand

Do you even know what a bitcoin is? Can you explain blockchain technology? Can you provide a reasonable explanation as to why a single bitcoin should be worth about $17,000 (U.S.) today – as opposed to the $780 it fetched a year ago ? If you don't understand something or its valuation bears no relation to reality, those are your first clues to stay away. There are plenty of easy-to-understand investments with valuations that do make sense based on their earnings, cash flow or dividends. Bitcoin generates no earnings or income and its value rests almost solely on the "greater fool theory" – a belief that one can find a buyer who will pay an even higher price than you did.

 - Don't expect to get rich overnight

Over long periods, the stock market has delivered total annualized returns – including dividends – of about 8 per cent.

That's a realistic expectation – and nothing to sneeze at. Investing in something that you hope will double, triple or quadruple in a year – whether it's a penny mining stock, a biotech start-up or a cryptocurrency – is not realistic and will lead you into trouble more often than not. Learning to control the urge to make a quick buck will serve you well in the long run. As the legendary value investor Ben Graham once said: "The investor's chief problem – and even his worst enemy – is likely to be himself."

 - Don't worry about missing out

We've all heard stories of people who have bought homes and cars with their bitcoin profits. Good for them. I'm guessing we could soon be hearing stories of people who lost homes and cars because of their bitcoin losses. When you speculate, you could win big – or lose big – but you have no way of controlling the outcome. If you invest in blue-chip stocks, on the other hand, you will dramatically increase your chances of coming out ahead – likely way ahead – in the long run, which is what really matters.

 - Boring is beautiful

If you want excitement, go see the new Star Wars movie. If you want to make money investing, you should strive for boredom. The late U.S. economist and Nobel Prize winner Paul Samuelson put it best: "Investing should be more like watching paint dry or watching grass grow." That's not to say prudent investing can't occasionally be fun or entertaining. When one of my companies pays a dividend or – better yet – raises its dividend, that's all the excitement I need.

 - Choose a strategy – and stick with it

I like to invest in companies with growing dividends (for specific examples, see my Yield Hog Model Dividend Growth Portfolio). Other people may prefer a passive indexing approach or, if they have the requisite knowledge, investing in value or growth stocks. The important thing is to pick a strategy (or mix of strategies) that suits your knowledge and risk tolerance, and then stay the course. If you're constantly distracted by shiny objects – whether it's bitcoin or some other investing fad – you'll be less likely to achieve your goals.

 

[millenniumcoin]

I think it is practically impossible to trade without trading knowledge. Before your first deal on a trading platform I strongly recommend you to have basic knowledges. The following tips coulf help you be a successful trader.
1.Tracking. If you want to be successful, track the latest cryprocurrency news, ranking and key indicators. Daily. It will help you to make correct decisions.

2.Distribution. To minify possible risks, it’s better to distribute your money into different cryptocurrencies. For exemple, in your wallet you can have 40% bitcoin, 25% ethereum, 20% bitcoin cash, 15% litecoin.etc

3.Technical analysis. Remember, the technical analysis is based on the information from the past. Don’t even try to predict the future cryptocurrency prices, no one knows it.

[Vanshenz]

education and knowledge is very good to serve as a guide in trading, not only on the basis of the substance of experience but on a better understanding to beginners and traders, with education and knowledge we can learn as a whole and have the ability and avoid big losses because our mistakes do not deepen knowledge and knowledge about trading.

the knowledge we can get from reading some articles about trading, and asking experienced people, asking is a good way to find knowledge, therefore, we must collect or be friends with people who have been trading, so you can sharing experiences.

[GreenPowerRanger]

I think thats a very hard lesson who everybody has to learn. In theorie trading sounds really easy. But low sell high. So the most people think they got this and just buy a bitcoin. But they have no patience, and they dont wait untill the price goes down. There just see the chart goes up continuesly and then when they buy it, the dump comes. When your new in trading and your coins get the first time down, you fear the first time fud, and you sell because you want to make less minus. And in the moment they sell, the coin is coin up

[TTITA]

First thing you need to know in trading is the value of the items you are going to buy/sell/trade. Then learn how the market flows. When trading something with someone always keep in mind that you should have a profit. For me this is all the basic knowledge when trading, but the best knowledge wil come with the experience.

I think that in the world of trading cryptocurrencies does not need skill that qualified, only in need is remain in the current trend of market trends, when the flow of the market moves up then you must be quick to quickly take the decision buy, as well as reverse.

[icecube45]

I think someone who is successful in trading without having knowledge is a lucky person and this does not last long. You're right, I agree with you. Start with education, research and do the exercises very precisely. Trade requires knowledge and persistence to succeed. It is difficult to develop this science but if you are patient and keep trying it will definitely work and your knowledge will gradually increase. Especially now that many trading sites provide for free self-service exercises (such as demo accounts), this should be used before actually trading.

[boled]

started trading bitcoin and altcoins since 2014, and I am often weak hand because of panic, I've been trying to learn a lot about trading, market conditions, market news, candles, and more, I have a lot of formulas, lots of theories, lots of science that I can and keep, but none of them talk about patience, weakhand, overcome panic, so a few days ago I decided to stop trading, and focus on other models, bounty, lending and bag holder. this is not my style, and currently has no passion. but I am still struggling with the market.

[Lecam]

A lot of people do trading even if they don't know nothing about it and some people succeed on that but most of them failed.
One of the reason why I think they do that, is because of GREED which can result to a big loss for them.

Start with education, make a lot of research, do some practice trading online
and use it later on in real life. Don't rush to earn money because in trading its hard to do so.

Are you a trader in mind but scared inside?
Be more patient, develop your emotion and win in this market.

I agree with you. I think that the best weapon and strategy that we should be and should have here is just to be patient and positive here in crypto. Trading is a challenging thing that would changebour lives for good in the future so we must focus on the things that will help us grow in this field.

[Sakash]

I think that knowledge makes people feel helpless to live well in society. People in the knowledge of the knowledge take a decision on the path of justice. Where people can not do anything without knowledge, it is impossible to trade without knowledge - it is impossible to trade.

[jems]

A lot of people do trading even if they don't know nothing about it and some people succeed on that but most of them failed.
One of the reason why I think they do that, is because of GREED which can result to a big loss for them.

Start with education, make a lot of research, do some practice trading online
and use it later on in real life. Don't rush to earn money because in trading its hard to do so.

Are you a trader in mind but scared inside?
Be more patient, develop your emotion and win in this market.

In the world of trade cryptocurrency needed knowledge in technical analysis and fundamental analysis. However, it also required patience, namely by holding. You're right.

Knowledge will be gained by experience. Experience is a long process so it is not easy to get. Trade also requires good emotional control, because emotions affect your trade.
All that takes time, and should continue to be trained.

[AtlantaFive]

This is a bad idea trading without knowledge is not good. You know why because you might experience what i did when i was newbie. I always enter at the wrong price and the bad thing is i always lose my trades because i panic and i'm afraid i will lose my money. It was a disaster back then and i learn a lot from that experience.

[putrii]

A lot of people do trading even if they don't know nothing about it and some people succeed on that but most of them failed.
One of the reason why I think they do that, is because of GREED which can result to a big loss for them.

Start with education, make a lot of research, do some practice trading online
and use it later on in real life. Don't rush to earn money because in trading its hard to do so.

Are you a trader in mind but scared inside?
Be more patient, develop your emotion and win in this market.

I think trading without knowledge seems to be difficult to get a better profit if you have experience and knowledge about the world of trading for easy to gain profit.

[shoreno]

Trading without knowledge is like donating your money to the charity. you cant possible earn a profit because youll probably loose if you dont have any knowledge in regards to trading. everyone knows that trading isnt a piece of cake or an easy task that any regular person can do.

Trading requires an adequate knowledge and marketing skill in order to initiate it properly and successfully. Much better if you can just invest rather than doing trades because investing doesnt requires any good knowledge other than patience and strong control of emotions.

[BigBos]

A lot of people do trading even if they don't know nothing about it and some people succeed on that but most of them failed.
One of the reason why I think they do that, is because of GREED which can result to a big loss for them.

Start with education, make a lot of research, do some practice trading online
and use it later on in real life. Don't rush to earn money because in trading its hard to do so.

Are you a trader in mind but scared inside?
Be more patient, develop your emotion and win in this market.

I think trading without knowledge seems to be difficult to get a better profit if you have experience and knowledge about the world of trading for easy to gain profit.

well, it's like playing gambling, because just rely on luck. but when you combine it with knowledge, it can be a great advantage in the future. sometimes the information becomes central very important in trading.

[jeronimosuykens]

No knowledge in this market will be what makes you fail seriously. There is no easy thing in the cryptocurrency market and you will have to pay a very expensive price if you do not really understand it. Luck will not be able to come to you constantly so learn so much and when you have confidence decide to invest long with it.

[Sanjeewa101]

Emotion, Patient, Knowledge is a key factor for the success of trading, Without these factors may fail the trader. I think every successful trader have these key factors. Always we should invest afford to lose in cryptocurrency industry.