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

[Woodie]

There is a whole lot more to trading than chart patterns, you need more confluence to agree with your next trade!

You could be very good at reading your charts but if you don't have the patience or don't know how to apply your risk management correctly forget about making profits because when you over risk and the market is out to look for liquidity where stop losses or pending orders are located, your account needs to handle the draw down before price goes your way.

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[AicecreaME]

I got your point, but I disagree.

I mean, in order to gain experience to execute what you're learning, you still need to put up a trade, right? for me it is not gambling, especially if you're gonna make a trade using small amount of USDT or any coin you have in the futures, consider also the leverage you're gonna use of course.

"Gambling" word have different meanings depends on where you are going to use it, since we're talking about Trading, "gambling" means risking your money in order to gain profits but the chances of making one is higher compare to the real "gambling" game, I hope it does make sense.

[SquallLeonhart]

"Gambling" word have different meanings depends on where you are going to use it, since we're talking about Trading, "gambling" means risking your money in order to gain profits but the chances of making one is higher compare to the real "gambling" game, I hope it does make sense.

But, I understand OP is referring the exact same thing here like the "chances" are different when you are having knowledge and when you are not. Trading is not gambling, I agree. But, when people are approaching futures trading without proper preparation then their way of trading is very much similar to gambling.

You could be very good at reading your charts but if you don't have the patience or don't know how to apply your risk management correctly forget about making profits

Yeah, making profits is not a simple thing like how it sounds and due to this is the reason people are struggling and losing all their capital even in spot trading. Futures trading is somehow having 10x more risk levels hence it will be consistently profitable only for pro traders.

[rosebrand]

You are right dear friend, most people gamble with thier funds in crypto and thinks there are actually trading, it isn't called a trade when you don't even know when to enter or leave the market, entering at any point can lead to lose of funds because the market might move in the opposite direction, we will do ourslves more good if we learn more about crypto trading, not just learning how to execute trade but how to analyze trade also. Technical analysis is so important and let me say necessary in this sector, to be a successful trader u need technical analysis so much because it helps you to predict the market to an extent.

[EiKaGlaShPriSAThWEl]

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

Yes I agree that we must have a proper knowledge if we want to become a trader. Based on my personal experience wherein I just try to buy anytime I want, wait for the price to rise but instead of what I am expecting, it keeps going down. There is still a right timing for us to buy. One problem is just how to determine at which exact point is the right timing to buy and sell so it must be included on our research. Knowing your target is also important. It may seem that it is very easy to earn big money in trading but it isn't. Time and effort is what we really need to be able to determine how did this trading really works.

[tygeade]

Based on my personal experience wherein I just try to buy anytime I want, wait for the price to rise but instead of what I am expecting, it keeps going down. There is still a right timing for us to buy. One problem is just how to determine at which exact point is the right timing to buy and sell so it must be included on our research.

By timing is all about catching possible lower prices; yes I agree it should be included by your research and analysis so that you can make your trading a perfect timed one. Because of high volatility of markets, we cannot get the exact prices to buy or sell neither. So, you must go for referring your technical part to make sure that you are getting right price at given moment.

Knowing your target is also important. It may seem that it is very easy to earn big money in trading but it isn't. Time and effort is what we really need to be able to determine how did this trading really works.

We cannot simply determine our target levels but it should be coming from same technical analysis. Because, if you're going by your own and comfort zone target levels then you might need to compromise your profit portions.

When we are depending on only the research and analysis even for booking profits then we can avoid disappointments and later regrets.

[MIner1448]

I 100% agree with you, when I went to futures, I just watched the videos on YouTube, then went to the TV channels with advice, the result was all hard-earned merged under 0.
I made a conclusion for myself that I will no longer trade futures until I have studied the trading models by 100%.

[Gheka]

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

It is not easy to become successful traders, therefore it is necessary to have good preparation before deciding to trade. Moreover, if you intend to
trade futures, you must first master the spot trading. My advice is to practice more trading, in order to improve analytical skills and also be able
to predict coin price movements in the market. To achieve success in trading, don't forget to also correct mistakes that have been made when
trading. There are many things to learn when trading, so don't ever be lazy to learn everything about trading. The thing to remember is that
we must be patient when trading, because we can't succeed in a short time.

Indeed, before going to another form of trading such as futures trading, traders need to maintain a relative win rate in normal trading, use your own strengths, instead of relying on others or pure luck of feelings, get serious with it before moving into more risky areas. From that point forward, the next steps in futures trading will not turn us into gamblers, we will be traders but the warning here is quite risky, only a small portion of the asset is sought for success, the majority of professional traders succeed in traditional trading, futures contract was never ideal with the leverage that it offers

[iamsange]

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

Exchanges keep give warning sign before we can access future trading page, sometimes that simple thing is ignored by people especially who only rely in signal group. For me maybe trading is not something that can be mastered in 1 day, step by step needed maybe people can try to do spot trading, although sometimes profit not big as future, i think analysis is almost same and in spot we can do some ways to minimze loss.

[wiss19]

I made a conclusion for myself that I will no longer trade futures until I have studied the trading models by 100%.

I am afraid that you will get chances to master all the aspects of futures trading 100% because I heard even professional traders are not learning 100% but they are profitable because of their practical knowledge. I am not urging you to get into trading right away but you should practice more in demo accounts so that you will get more knowledge rather than depending on learning from other materials in 100%.

Moreover, instead of looking for opportunities in futures trading, you must get into spot trading for safer yet profitable trading. Spot trading is good for slow and steady profits.

[shield132]

<<>>
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.

The problem is that crypto market is so unpredictable, it often happens that the stop loss order we choose is often the amount where our currency falls but doesn't exceed much lower and rises again. Then we blame ourselves and don't set stop losses, then we get anxious because the same happens but we don't want to lose and this situation repeats frequently.

One thing is true, futures is amazing but you have to use max 2-3x leverage or not use at all (1x). Leverage means both, higher profit and higher loss chance. Trading is very risky and you shouldn't trade with the money that you can't really afford to lose. Trading should be like a hobby and you should rarely trade. I haven't seen a person who trades daily and makes profit and/or feels good.

There is one rule! What goes around, comes around! And futures gives you the possibility to profit from both, "go around" and "come around".

[Sinjokubhi]

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

Yes, it is true, after understanding basic knowledge, the next step we need to emphasize is technical analysis. Even though we already know about how it works, we also have to know how it is obtained, namely by means of analysis techniques. It is not easy to learn this. Understand the direction of the chart, understand candlesticks, and analyze trades. It is incomplete if trading is not carried out with this, because it is true what you say, if we get a profit without accompanied by analysis techniques, it will only be a fortune.

Usually you read and analyze charts and candlesticks. You can find out where the next market movement pattern is going and what actions you have to take, of course it will be easy to do because we already know what will happen. Even though not all of the predictions are correct, at least we already have a point to anticipate what will happen later. Do not rely solely on news or announcements from accounts, or groups. But you can determine it yourself through technical analysis. It is difficult, but I think it must be learned.

[Alisha-k]

You can't venture into any adventure unprepared and unskilled. To be classified as a trader you must have a well structured trading technique be it fundamental or technical. The bottom line remains such a trader must have an entry trigger. Which could be regarded as what the traders gets as a signal before executing a trade

[FanEagle]

You can't venture into any adventure unprepared and unskilled. To be classified as a trader you must have a well structured trading technique be it fundamental or technical.

But unfortunately many people are preferring those adventures and that too in manner of unprepared. Honestly I could not get those people who risk their money even there are lots of people keep shouting about the all possible risks of losing money in quick time. It seems they love fun and not the profits.

The bottom line remains such a trader must have an entry trigger. Which could be regarded as what the traders gets as a signal before executing a trade

You mean that they do enter into trading due to they are provided with easy signals from third party? I never trust any signals from others; instead of risking based on other's signal, it would be much better we can simply leave the trading and may go enjoying that money in other ways.

[thesmallgod]

When you are taking a great risk, you will discover that you are losing a lot of funds. This is because it is the basis to study technical analysis of crypto chart and also understand very well how to use trading tools in order to minimize the risk which exactly what the op has explained in order to avoid gambling rather than trading

[jostorres]

it is the basis to study technical analysis of crypto chart and also understand very well how to use trading tools in order to minimize the risk which exactly what the op has explained in order to avoid gambling rather than trading

But, it seems that only knowledge alone will not enough to be successful in futures trading but you must need good experiences as well so that you could get chances to tackle the ever changing market conditions of cryptos. So, just being good at technical analysis and chart reading may not help you like how spot trading is doing for most naive yet good technical analysts.

There is always a slight differences between trading and gambling but it is really unfortunate that many traders are approaching trading in gambling way by not understanding its risk levels fully.

[kram31]

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

In the first place, I agreed in the statement you said in which " We must learn the basic trading " this was actually right. But, using technical analysis especially for the newbies who come here in crypto space, it would be difficult for them to adopt it for sure. Perhaps, fundamental analysis is enough for us to earn, and knowing how to read candlestick, or patterns would also help as well too. Without this basic idea in trading I am pretty sure everything we do will be turn into nothing but to loss your assets just as simple as that.

[Questat]

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

Do trading without knowing even the basic things is just suicide.

Yeah, that your right that some people are hoping for Good luck but that is impossible if we don't do anything to improve our trades. Basically, trading needs knowledge and skills, not just having a LUCK alone. I actually asking for luck however, we can't just rely upon it but instead, it must be accompanied by hard work and also the use of our knowledge and skills.

[jaberwock]

Basically, trading needs knowledge and skills, not just having a LUCK alone. I actually asking for luck however, we can't just rely upon it but instead, it must be accompanied by hard work and also the use of our knowledge and skills.

Yeah, in trading also luck will favor you if you are good in knowledge and skills like how it does with braves. Luck factor is something which we can be manipulated through our analysis. It may sound hard and strange because people do call luck is something unpredictable or uncontrollable but in trading we can get into be lucky if we are good at skills.

Not alone in futures trading, even in spot trading if we do not know what we are doing then that is simply a gambling and nothing more. At the same time, if we know what we are going to do and performing everything within pre-determined calculations then luck will start favoring us which will end up in profits obviously.

[Kittygalore]

When you are taking a great risk, you will discover that you are losing a lot of funds. This is because it is the basis to study technical analysis of crypto chart and also understand very well how to use trading tools in order to minimize the risk which exactly what the op has explained in order to avoid gambling rather than trading

You don't have to lose those funds when you are taking great risk, it's not like life is a one track only, you can take great risk and still be smart about what to do next. Also, why go for futures first when it is the most risky of them all? Learn the ropes first before going for the heavy stuff.