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

[Mahanton]

Many ordinary people who enter futures trading are armed only with their courage and luck without knowing how to determine good positions and read charts properly. it does look like gambling. if the guess is right then you gain, but if the guess is wrong then you will lose.

I stay away from futures trading because it messes up my psychology. too risky trading future for me. I prefer spot trading because it is safer and more relaxed. getting profit on spot trading would be better.

I cant consider spot trade to be safer but it  is way more better than with futures even the tendency of possible profit is bit high but i dont see to be that worth and
just like yours im not really that much confident on dealing with higher risk because it do really stresses out much more compared when i do make out some spots.
Been able to try it for several occasions but i cant really bare nor handle out the risk but there are still who directly test out and put their foot into the
field without much knowledge and awareness about the risk level until they do experience it out through themselves.

[Hypnosis00]

Having knowledge in the chart patterns reading doesn't make anyone that trading in futures not to be gambling because futures trading is the riskiest form of trading in crypto so making successful trade in future don't total have to with chart knowledge but luck though having chary knowledge increase the chance of making success.

Knowing how to read the market chart, having basic knowledge of the candlestick reading, that simply gives us an advantage but knowingly that the market is unpredictable, it sometimes we rely on our trades into having a LUCK.

But if we wanted to increase our chances of being profitable, it is a need for us to have these trading tools. It is much better to have such a high level of market understanding rather than to be NO-HOW as we can't just leave our trading journey like we are gambling. As the more we keep rooting what is Trading, the more we appreciate it and surely it turns you back.

[Oilacris]

Having knowledge in the chart patterns reading doesn't make anyone that trading in futures not to be gambling because futures trading is the riskiest form of trading in crypto so making successful trade in future don't total have to with chart knowledge but luck though having chary knowledge increase the chance of making success.

Knowing how to read the market chart, having basic knowledge of the candlestick reading, that simply gives us an advantage but knowingly that the market is unpredictable, it sometimes we rely on our trades into having a LUCK.

But if we wanted to increase our chances of being profitable, it is a need for us to have these trading tools. It is much better to have such a high level of market understanding rather than to be NO-HOW as we can't just leave our trading journey like we are gambling. As the more we keep rooting what is Trading, the more we appreciate it and surely it turns you back.

We cant really deny that luck is a bit relevant when we do make out some trades because of this very unpredictable market and thats why who do rushed up on doing trades specially in futures do wreck out because of being unprepared.

Dealing on it without proper knowledge about charts and indicators will mostly lost up money into this manner.This isnt something that you can treat just like gambling.

You would really be having an advantage if you do just know on how to read up even with those candles and not just put up some money and treating on making out a bet.

[nurilham]

That's right, moreover if it is only based on the feeling and also following other people free signals.
This is exactly gambling without any consideration. Once they are fortunate, they will get profits, and then they can fall so easily.  But, this is very often happening in the crypto market because they only think about the profits, not risks.

[zanezane]

That's right, moreover if it is only based on the feeling and also following other people free signals.
This is exactly gambling without any consideration. Once they are fortunate, they will get profits, and then they can fall so easily.  But, this is very often happening in the crypto market because they only think about the profits, not risks.

The problem is some of them got peer pressured to try futures because everyone around that person does it which is a suicide for your money because you clearly have no knowledge and your friends who do it doesn't have a clear idea too.

[awik p]

That's right, moreover if it is only based on the feeling and also following other people free signals.
This is exactly gambling without any consideration. Once they are fortunate, they will get profits, and then they can fall so easily.  But, this is very often happening in the crypto market because they only think about the profits, not risks.

The problem is some of them got peer pressured to try futures because everyone around that person does it which is a suicide for your money because you clearly have no knowledge and your friends who do it doesn't have a clear idea too.

but many people do it like that, without any knowledge and follow what friends are saying, with various examples that are sweet to hear. and in the end they become bait of their own fault. therefore do not want to get rich quick and in a short time, because everything requires a process

[suzanne5223]

Having knowledge in the chart patterns reading doesn't make anyone that trading in futures not to be gambling because futures trading is the riskiest form of trading in crypto so making successful trade in future don't total have to with chart knowledge but luck though having chary knowledge increase the chance of making success.

Knowing how to read the market chart, having basic knowledge of the candlestick reading, that simply gives us an advantage but knowingly that the market is unpredictable, it sometimes we rely on our trades into having a LUCK.

But if we wanted to increase our chances of being profitable, it is a need for us to have these trading tools. It is much better to have such a high level of market understanding rather than to be NO-HOW as we can't just leave our trading journey like we are gambling. As the more we keep rooting what is Trading, the more we appreciate it and surely it turns you back.

I totally agreed with what you said cause it good to have basic knowledge in everything we do either in crypto or the real life business cause it will put someone on the edge.
 I have already pointed it out the benefit of have knowledge about the chart but the market being unpredictable as some point is the reason why i see trading as another form of gambling.

[taufik123]

I cant consider spot trade to be safer but it  is way more better than with futures even the tendency of possible profit is bit high but i dont see to be that worth and
just like yours im not really that much confident on dealing with higher risk because it do really stresses out much more compared when i do make out some spots.
Been able to try it for several occasions but i cant really bare nor handle out the risk but there are still who directly test out and put their foot into the
field without much knowledge and awareness about the risk level until they do experience it out through themselves.

While spot trading still carries the risk of loss, spot trading is safer than futures.

Whatever type of trade is chosen actually depends on the individual himself. If it is suitable to trade in futures and can read the market well, it is not a problem. However, if you are only armed with the courage with a lot of capital, it's better not to try it, because no matter how much money you have, if you don't understand what to do, don't try it.

The need to know the basic knowledge of technical analysis trading will be very useful for analyzing the market either in spot or futures trading.

[sedahan13]

Its not enough to have knowledge of chart pattern, we need also have good psychological and enough patient to decide when good time to click the order. Many my friends avoid futures trading because this type of trading too risky. Even trader who already more than 7 year in crypto market avoid it, because there are other way to make money with lower risk. Spot trading on crypto and stocks market is better for trading and profit with less risk. I dont want to take risk loss 100% with percentace of profit 100% or above because in spot market we can make it with lower risk.

[dezoel]

Even we have good knowledge about technical analysis, that not enough to be successfully trader on futures market. We need more than that,  should be also understand how to minimize the risk by put only 5% of trading balance there, and remaining for the better trade coin on spot market.

Even 5% is a lot because you can see your money vanish in futures trading within moments so I would say like 1-2% is enough and that too after you have learned how it works and what are the possible means of doing it. Futures is more like gambling for me because no one in the world can predict small movements in crypto and that is where future trading revolves around. If I am not wrong there is upto 125x leverage so imagine how quickly your funds will be liquidated.

I think a lot of newbies do the wrong thing for them to trade just buy low and sell high. even though it's not like that, you have to use techniques and analysis to see how the profit is made from the trading pattern, if the pattern fails to replace it with a new pattern, but if the pattern is successful, maintain it and develop it for the better.

There are demo trading accounts if you want to test your knowledge and I agree one should never jump into real trading unless they have a method which they tested and was successful for them. Crypto trading is already volatile enough and one should not make it harder for themselves by jumping into it without any prior experience.

I don't think that everyone that had a beginner's luck needs to suffer the same fate, maybe if they were cocky and got too emotional for the rest of the day doing trades then they are probably going to meet bad ending.

They develop overconfidence just like some of the gamblers think they can win every bet just because they managed to win a good bet on crazy odds. Later this overconfidence works against them because no one can make a living out of luck only.

[Lanatsa]

Its not enough to have knowledge of chart pattern, we need also have good psychological and enough patient to decide when good time to click the order. Many my friends avoid futures trading because this type of trading too risky. Even trader who already more than 7 year in crypto market avoid it, because there are other way to make money with lower risk. Spot trading on crypto and stocks market is better for trading and profit with less risk. I dont want to take risk loss 100% with percentace of profit 100% or above because in spot market we can make it with lower risk.

True!

This doesn't only rely with chart patterns but also mixed up with some intuition and guts when making up your position because charts aren't that precise from time to time

but I can say that this would be the major factor that you should know when you do deal with futures or leverage. Always consider the possible scenarios could happen like news
and other fundamentals.

with these things it can really changed out the market trend on point.So you should be prepared on setting up stop losses and others.

[zanezane]

~

but many people do it like that, without any knowledge and follow what friends are saying, with various examples that are sweet to hear. and in the end they become bait of their own fault. therefore do not want to get rich quick and in a short time, because everything requires a process

That's because we are a social species that can't live without socialization so we do everything what our friends do because we want to keep the bond we have with them and to have a sense of belonging. The other problem is whether you have the right friends or not because there are some people that got lucky with friends that really helps them.

[Fivestar4everMVP]

Very true, I've traded the spot market for quite some time, I've always thought that's where trading ends and that as long as I know everything about spot trading, I will be a super successful trader, but after quite a long time, I didn't make much, I discovered about futures trading and decided to try it out, yeah, for a little time I made alot of money but this were all based on luck, I know absolutely nothing about how to read chart or do technical analysis or even market assessment, so to cut the long story short, I was blind trading, I just enter the market blindly, not having any clue which way the market would go, I just do and hopes it goes my way and for quite a short period of time, I was lucky until one day, I lost everything, all the money I managed to make through high leveraged trading, everything vanished in just a twinkle of an eye, that was the day I quit day trading and decided to focus on investing.

[enawati]

I think trading futures good to do for full times trader, and actually the high risk come from the greedy by use high of leverage. If we want to make earn consistent profit from it, I think the most important thing than knowledge of TA is money management. The way to make profit from this leverage trading is by use only 1%-2% of trading balance per trade, use maximum 10x leverage and dont forget to use stop loss for every trade.  Percentace of Take profit is always higher 1,5x-2x than stop loss, so by that we can reduce the loss.

[Tigerheart3026]

even in gambling you have to know basic knowledge, gambling more risks than cryptocurrency trade,
i have done a few bet so i know how much pressure here, buy low/sell high it seems greedy trade, and not professional trading.

[jambul_kribo]

not only in future trading, but in every where when we investment our money and we did it without any analisys i could call it gambling. in every investment we need research about its project,we will find the advantages or minus by doing this. and its happen to future trading, without analisys both in technical or fundamental , lose our money will be easy thing.

[andriarto]

even in gambling you have to know basic knowledge, gambling more risks than cryptocurrency trade,
i have done a few bet so i know how much pressure here, buy low/sell high it seems greedy trade, and not professional trading.

I think the criteria for buying low selling high are difficult to digest. when the price is low and we can buy it? because sometimes even though we feel the price is at the bottom but it turns out the price is back down again. therefore we must understand support and resistance because in that area sometimes prices react

[perfect999]

in every investment we need research about its project,we will find the advantages or minus by doing this. and its happen to future trading, without analisys both in technical or fundamental , lose our money will be easy thing.

Yeah, we must do risk only after strong research and analysis which must be the only part which distinguish our actions from gambling (because usually gambling do not require any other such analysis part). At the same time some people are actually gambling but in the name of trading but fortunately they are all making profits time to time because sometimes blindly buying and selling also getting them profits because of some basic fundamentals of this crypto space.

we must understand support and resistance because in that area sometimes prices react

Market may react at the support and resistance price levels but that cannot be the final one for the day; it means markets may move further beyond support and resistance levels that is the reason we are having support-1 and support-2 and resistance-1 and resistance-2 and so on.

[Reatim]

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

Even in gambling there is also some patterns and strategy to use meaning that it isn't that easy like both of them.
and also at so many chances , trading and gambling was being compared and it becomes more viral when you trade and lose everytime .

even in gambling you have to know basic knowledge, gambling more risks than cryptocurrency trade,
i have done a few bet so i know how much pressure here, buy low/sell high it seems greedy trade, and not professional trading.

People must be aware of the danger and risk of everything they need to enter and invest.

either trading or gambling? both needs the same treatment and that is to risk and learn.

[xSkylarx]

This is what I've been telling to my friends that want to try futures trading. They get attracted to the gains they saw from their friends on social media and get curious if they can still do it too. They don't know it is very risky and can cost you a lot of money in just seconds if the market goes opposite of what they want. I even see some people just dive into it with a huge capital but no knowledge at all. They think that futures trading is the way for them to be millionaires.