Short one's own operation

[Lakai01]

Traders this days hardly even have their own opinion to depend on as they prefer relying on others (signal providers) to trade. They don't even have the patience to learn the skills before wanting to earn, what makes you think they'll have the patience to wait on the market for confirmation.

The problem is that many people simply follow well-known traders on Twitter and they naturally brag about their profits, making you think "I can do that too, I just have to sell higher than I bought".

So these people are very much after the "quick money", which simply does not exist - apart from extremely lucky people of course. Well-known traders have usually had to gain years of experience and pay a lot of money until they were finally able to make a profit. In order to be successful in something you simply have to invest time and not believe that you just have to subscribe to a signal service and you are a millionaire in no time. But with this mindset, especially newcomers very often approach and then of course immediately go crazy as soon as a trade goes wrong or the market as a whole turns.

[1714725397]

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[1714725397]

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[wxa7115]

Traders this days hardly even have their own opinion to depend on as they prefer relying on others (signal providers) to trade. They don't even have the patience to learn the skills before wanting to earn, what makes you think they'll have the patience to wait on the market for confirmation.

The problem is that many people simply follow well-known traders on Twitter and they naturally brag about their profits, making you think "I can do that too, I just have to sell higher than I bought".

So these people are very much after the "quick money", which simply does not exist - apart from extremely lucky people of course. Well-known traders have usually had to gain years of experience and pay a lot of money until they were finally able to make a profit. In order to be successful in something you simply have to invest time and not believe that you just have to subscribe to a signal service and you are a millionaire in no time. But with this mindset, especially newcomers very often approach and then of course immediately go crazy as soon as a trade goes wrong or the market as a whole turns.

Those are the two main problems with most people that want to become traders, they are not only greedy which is not as bad by itself but when you pair this with laziness this is an awful combination.

They want to become rich with trading but at the same time they do not want to make the effort to understand the markets, after all what can be so hard about buying an asset for cheap and then sell it for an even more expensive price? In their minds this should be the easiest thing on the world, not realizing that it is probably one of the hardest as everyone wants to do exactly the same making the markets extremely competitive.

[CryptopreneurBrainboss]

In their minds this should be the easiest thing on the world, not realizing that it is probably one of the hardest as everyone wants to do exactly the same making the markets extremely competitive.

I have come to understand something with the whole concept of buying low and selling high. Every trader want to buy low at a certain price without realizing the buying has to do with your own entry point and not what others think. Your entry point has to be determine by many factors, one of which is when you'll be targeting to sell. If you're targeting selling anytime within days or weeks then you don't have to rush into a declining market as there's every possiblity of further drop within that period but many don't take notes of this.

They blindly follow predictions of long term traders without realizing the reason for that entry point been emphasize on. In years or months to come the price is definitely going to be trading above that buy price but that can't be said about days or in weeks time, which is why you should do your analysis yourself and not rely on what you see online.

For example, long term traders hoping to take profit when bitcoin is trading around or above $100k aren't scared of buying when Bitcoin was trading below $50k but that shouldn't be the entry point of a short term trader as there was every possiblity of further drop as we experienced.

[RealMalatesta]

I have come to understand something with the whole concept of buying low and selling high. Every trader want to buy low at a certain price without realizing the buying has to do with your own entry point and not what others think. Your entry point has to be determine by many factors, one of which is when you'll be targeting to sell. If you're targeting selling anytime within days or weeks then you don't have to rush into a declining market as there's every possiblity of further drop within that period but many don't take notes of this.

They blindly follow predictions of long term traders without realizing the reason for that entry point been emphasize on. In years or months to come the price is definitely going to be trading above that buy price but that can't be said about days or in weeks time, which is why you should do your analysis yourself and not rely on what you see online.

In crypto when you are a short term trader the idea of "buy low and sell high" becomes something a lot less relaxed, it is a very rigid concept. What you have to do or at least try to achieve is moving very quickly. Which means that if you really want to make a profit in one move inside of 10 days that means you will have to end up buying very quickly and selling very quickly, so the entry point does matter in that case, but when?

For example, when bitcoin drops from 50k+ levels to under 40k, then you will end up buying, so a 35k is a great price at that time and yes it did move up after that, you or a long term investor both should not be afraid. On the other hand we have been under 40k for a very long time, and then we are still not going up, which means that we should probably wait if we are in short term trading, whereas long term can still buy. So it is a lower price, but you have to wait, which means it is not about price, it is about past weeks or even days.

[Tim-BTC]

Sometimes technical indicators fail. If you rely on your feelings, wait more time and don't rush to conclusions.

[lablab03]

Sometimes technical indicators fail. If you rely on your feelings, wait more time and don't rush to conclusions.

true, as the matter fact when it comes trading patience is the most important, even you know how to use and to execute those indicators in the chart but your too greedy, then you will fail somethimes. Coz it's about time, not all the time you can use it unless if the market isn't like this which too volatile, especially if you're scalping and seeking for trend, surely there will be some false signals.. So it really need some efforts and time.

[rima28]

Well because trading is not just easy you need to improve your skill and ability know it especially .when we are using our analysis like technical analysis . well for a facility is never so there is no way you could be single out and cough caused one in a sea of traders trading some market and instrument but sometimes this presence will give us a good opportunity to benefit the market just need to have perfect timing in it on it and must you have believed in every decision you have and the last one is should focus on the trading plan.