Trading futures without knowledge of chart patterns, is gambling not trading

[Emmychris]

Most people just learn the basic of trading which is just executing trade, but this isn't enough to be a successful margin trader if not you keep loosing funds, you have to learn about chart patterns, know how to analyze trade, know how to read candles. With this knowledge of technical analysis you could actually know when to enter and leave the market, like it's said no one can actually know the direction of the market! I might be new but with my studies I can say technically analysis could help to predict the market to an extent. Trading futures without knowledge of technical analysis is just like gambling because you don't know the next movement your just trading based on luck

[boyptc]

And the same as trading but in trading, you're not obliged to sell or buy at any time because you can chill.

Whilst in futures, you are obligated to track your trade, or else you'll be liquidated. Most newbies are only looking at the percentage of profit that they can get on it but forget how risky it is if they're not prepared.

[samcrypto]

Any form of investing without having the right knowledge is gambling and you are taking too much risk if you this, this is why many got burn in futures trading because they though they can easily make money here until they got liquidated and almost burn out their total capital.

You can see a lot of good post about their earnings in social media and many newbies are rushing to the market because of that without making their own research, and once they enter in the market they tend to trade using futures, well you can expect the next thing that can happen to them. Always have time to learn, don’t take any shortcuts and just enjoy the process you can be more profitable once you have the right knowledge.

[nelson4lov]

~Snipped

Given how much risks comes leveraged trading and futures, undertaking trades that isn't backed by a solid bias based on either a good technical analysis of the respective market or at the very least, some fundamental analysis before opening a new positions should be considered as just a gamble and nothing more. Anybody that is truly serious about taking on leveraged trades should be patient enough to learn technical analysis and how to use the various tools.

[Bitcoin_Arena]

Not just futures trading, one ought to learn when to enter and exit the market even when spot trading. There is also a lot more to trading than just technical analysis, you have to be very disciplined, principled and keep your emotions in check whilst trading or else the Technical analysis you will have made would be in vain.

Proper risk Management is also one of the important aspects one has to take into consideration

When I was a newbie in trading, I made all sorts of mistakes from Greed, FOMO, no risk management plan, no exit strategy you name it and  I lost a lot of money for quite some time.

[FanEagle]

Most people just learn the basic of trading which is just executing trade, but this isn't enough to be a successful margin trader if not you keep loosing funds, you have to learn about chart patterns, know how to analyze trade, know how to read candles. With this knowledge of technical analysis you could actually know when to enter and leave the market, like it's said no one can actually know the direction of the market!

Even you are a master of all the things you have mentioned, I'm afraid still you will be lagging for margin trading. Because margin trading itself in a gambling, nothing will help you there except your luck factor. I am a good example for this; I have been into trading for more than 10 years still I'm not profitable with margin trading..

When you are availing leverage your multiplying your risk factor which must be the core reason why margin trading is simply turning as gambling; spot trading is good because your risk factor remains as it is and you can easily tackle it with the help of technical analysis hence there are plenty of chances for making profits in spot trading compared to margin trading.

[ScamViruS]

If you want to trade in any market, it is very important that you have trading knowledge and experience. It is not an easy task to predict the future price movement of the market. Futures trading is very risky, to trade in this market you need to be an expert in trading, otherwise if you open a position depending on luck like gambling, it will not take long for your account to become zero. Inexperienced traders take high leverage in futures trading to make quick profits, but sadly that position later turned into a nightmare. This is because if you cannot predict the movement of the market in advance and follow proper money management, there must be huge losses.

So I think you should stay away from the futures market if you don't have proper trading knowledge and expertise in trading. Maybe some trades can be profitable without any kind of analysis but in the long run there will be big dangers waiting.

[ice098]

Any form of investing without having the right knowledge is gambling and you are taking too much risk if you this, this is why many got burn in futures trading because they though they can easily make money here until they got liquidated and almost burn out their total capital.

You can see a lot of good post about their earnings in social media and many newbies are rushing to the market because of that without making their own research, and once they enter in the market they tend to trade using futures, well you can expect the next thing that can happen to them. Always have time to learn, don’t take any shortcuts and just enjoy the process you can be more profitable once you have the right knowledge.

Precisely, that is why it is still and always an ultimatum that whenever you are going to enter any kind of work or job be sure that you have already made yourself a self education about that thing that you are going to enter. A basic knowledge was the most important thing that you need to be able to survived, and in trading reading or knowing about chart patterns was a basic skills that need to know by every trader. Though it is crucial, but this would definitely help you to improve your other skills that required in trading, it will help you prevent from huge loss ahead.

[goldade]

Most people just learn the basic of trading which is just executing trade, but this isn't enough to be a successful margin trader if not you keep loosing funds, you have to learn about chart patterns, know how to analyze trade, know how to read candles. With this knowledge of technical analysis you could actually know when to enter and leave the market, like it's said no one can actually know the direction of the market! I might be new but with my studies I can say technically analysis could help to predict the market to an extent. Trading futures without knowledge of technical analysis is just like gambling because you don't know the next movement your just trading based on luck

Why would anyone call himself a trader if he has not learnt how to analyse trade, read candles or understand chart patterns? Technical analysis is the most important thing to learn if you'd become a successful trader.
I've seen people ( i wouldn't call them traders) who skip technical analysis only to end up losing funds because all of their trades are just mere gambling.
If truly you intend to make profits trading, then you should make out to learn all there is to technical analysis.  It's very important even more than fundamental analysis which some people believe is more important

[fahmimajannat]

Actually that's true.
Without gaining knowledge trading is just a gambling. Where you can only depends on assumptions. But its damn true that market doesn’t fluctuate according to your assumption
Always. So its like a gamble Where you can get rich or homeless.

[jahepahit]

I don't know why anyone would do futures without having a technical analysis knowledge its purely gambling. But maybe some people have the luck to do that because I have seen some people that made real money from futures without any knowledge of TA. They just follow coin movement, that's what they tell me when I ask them how they do it.

[2double0]

Risk management and understanding of leverage should also be practiced when trading futures because if risk is not considered, loss may be more than how much that trade could lose you and without understanding how much max leverage you can use for your trades, you are just gambling on a dice game by changing the leverage number to higher that works as payout numbers and then waiting for the results to go either on your direction or against it.

[nelson4lov]

Actually that's true.
Without gaining knowledge trading is just a gambling. Where you can only depends on assumptions. But its damn true that market doesn’t fluctuate according to your assumption
Always. So its like a gamble Where you can get rich or homeless.

Trading is a profession and should be taken seriously rather than likely similar to how gambling is done. And that's what people fail to realize about trading. To really excel in the market, one has to learn how to trade and that involves learning how to analyze the market using the technical trading tools that are already available. The problem here lies in the fact that most people just want profit while being unwilling togo through the learning process and its too bad.

[crzy]

Even if you have the knowledge in trading but if you do trade without proper plan and strategies, I consider that as gambling especially if you are just joining the hype because you are depending on your luck, and you make no analysis on that.

We all have to see trading as your real job and trading requires enough time to analyze, futures are very risky and I will not take any actions in future without understanding the market trend, i don’t want to lose my money easily.

[2double0]

<<>>
We all have to see trading as your real job and trading requires enough time to analyze, futures are very risky and I will not take any actions in future without understanding the market trend, i don’t want to lose my money easily.

Futures are not risky at all if you do it with proper leverage like 2-3x maximum and set a stop loss after calculating your risk to reward. It will minimize your losses and improve your gains. If you use a risk to reward of 1:3 or 1:5, then you can do much better futures trading and gain so much again if proper risks are calculated.

[death69]

Acutally, I feel that technical analysis only allocates 20% of a successful trader. 80% is about money management and emotional control. There are people who do not have knowledge of trading but disciplined rules which make them a consistent winner in trading, especially in the crypto world. During this bull run, anyone can become rich without having a piece of knowledge in trading. And people who have their rules in trading are the best earners because they can easily cope with black swan, sudden correction or significant sell-off without having dramatic pain and thus, can continue to move on and make a correct decision whether to buy or sell a coin

[agustina2]

Trading futures without knowledge of technical analysis is just like gambling because you don't know the next movement your just trading based on luck

Trading Futures is another level. Why would you risk money here if you don't know how's the difficulty here. And futures is really a gamble. Even with how professional you are, there are chances that your funds will be burned in Trading Futures.

It's different from Spot Trading where basic knowledge about trading is enough before someone can start on it.

[Vaculin]

Most people just learn the basic of trading which is just executing trade, but this isn't enough to be a successful margin trader if not you keep loosing funds, you have to learn about chart patterns, know how to analyze trade, know how to read candles. With this knowledge of technical analysis you could actually know when to enter and leave the market, like it's said no one can actually know the direction of the market! I might be new but with my studies I can say technically analysis could help to predict the market to an extent. Trading futures without knowledge of technical analysis is just like gambling because you don't know the next movement your just trading based on luck

That means that you are asking for some luck. But it seems so hopeless, I mean, that guaranteed nothing.
On the other hand, trading without even having the basic knowledge is just like you are depositing your money to the exchanger without expecting it will get back to you. That is why, if we wanted to become a successful trader, it was first to invest ourselves to learning about it, not just to learn while in actual trading because it is possible that you lose a lot of money before you got what you wanted.

[DoublerHunter]

Most people just learn the basic of trading which is just executing trade, but this isn't enough to be a successful margin trader if not you keep loosing funds, you have to learn about chart patterns, know how to analyze trade, know how to read candles. With this knowledge of technical analysis you could actually know when to enter and leave the market, like it's said no one can actually know the direction of the market! I might be new but with my studies I can say technically analysis could help to predict the market to an extent. Trading futures without knowledge of technical analysis is just like gambling because you don't know the next movement your just trading based on luck

^ I could not agree more, but look at this one. Deny it or not, these traders are getting massive profits even when they do not have any idea about technical charts, patterns, and analysis. Indeed this is gambling, but it is good enough a gambling that gives big odds isn’t it? But of course, this is only temporary. Sooner or later, they will experience loss from trading will try to sell at red numbers. And that is the time they will learn their lesson to study charts. Probably most of us did start with that kind of approach. I would admit myself being one before, but I learned from my mistakes at get up.

[bitgolden]

Trading Futures is another level. Why would you risk money here if you don't know how's the difficulty here. And futures is really a gamble. Even with how professional you are, there are chances that your funds will be burned in Trading Futures.

I believe by mentioning another level, you are referring the complexity of futures trading; because sometimes by another level most people are understanding like it is superior than what we are currently doing in spot trading. And I agree that even for professional traders predicting market direction will be too hard hence it is true with the statement of professional traders also facing big frustration in futures trading.

It's different from Spot Trading where basic knowledge about trading is enough before someone can start on it.

I'm just seeing that it's a misconception about spot trading. Maybe spot trading is less-cruel than futures trading still you cannot approach it easily. You must make sure you are having enough skill before starting with spot trading as well.