If you aren't reading you shouldn't be trading

[leea-1334]

It's just as simple as the both goes hand in hand both for technical and fundamental analyst. Trading is one career that requires steady update on how the news could affect the direction of a trade or possibly how an indicator or a candle stick can direct a trader on where the market is heading. If there is no time for a consistent update on your previous knowledge as a trader I guess at some point some level of gambling sets in.

1. If you are full time trader yes. But full time traders in stocks and shares, where you handle commissions and budgets and portfolios.
2. Why I say not for crypto? Because news does not affect it like stocks do. The highs and lows of crypto markets seem to be affected by events more than news (like whales selling, regulations banning stuff). News like central banks decisions and financial crashes do not seem to hit crypto until after a while.

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[Shasha80]

Totally right, without knowledge and wisdom in trading is like going to a war with only a knife, you can get lucky that you will survive but the chances are really slim. That's why I am not yet doing any trading because I haven't read enough to do an actual trading. To every aspiring trader, you might want to take this advice to heart because it will save you from lots of headaches and big losses but there's more component that you have to at least fulfill because knowledge alone isn't going to be enough.

Most people find trading easy, because they think trading is just buying coins at low prices and selling them when prices go up. Even though trading is
quite complicated, there are many factors that make people able to make a profit through trading. I agree that it is not enough just to rely on
knowledge, therefore it takes a lot of study and practice to become a successful trader. And always start trading from small capital, because if
we experience a loss, think of it as a learning fee. Because from the losses we experience, we can learn that there are some mistakes that we must
avoid in the future. It takes a long process to become a successful trader, and able to generate large profits through trading.

[Ararbermas]

It's just as simple as the both goes hand in hand both for technical and fundamental analyst. Trading is one career that requires steady update on how the news could affect the direction of a trade or possibly how an indicator or a candle stick can direct a trader on where the market is heading. If there is no time for a consistent update on your previous knowledge as a trader I guess at some point some level of gambling sets in.

absolutely right. Therefore traders must have a lot of efforts and patience to achieve what their goals in trading., because isn't about what knowledge you get from it, wherein it's about being aware of what's happening in the market to protect your money in different situations.. News is more accurate when trading and i agree with that because that's the only main reason why it's so affected nowadays.

[tvplus006]

...News like central banks decisions and financial crashes do not seem to hit crypto until after a while.

After the decision of the Chinese government to ban mining and cryptocurrency was made public, the market immediately reacted to it by lowering the price. This suggests that any news, positive or negative, affects the price of the cryptocurrency and you can expect a pump or dump accordingly.

[bonghip]

It's just as simple as the both goes hand in hand both for technical and fundamental analyst. Trading is one career that requires steady update on how the news could affect the direction of a trade or possibly how an indicator or a candle stick can direct a trader on where the market is heading. If there is no time for a consistent update on your previous knowledge as a trader I guess at some point some level of gambling sets in.

A successful trader isn't a trader who makes consistent profit without any loss but rather a trader who knows why his trade went the opposite direction and also a trader who understand risk management. Most traders makes massive profit in a single trade and blows everything down in the next trade as such there is no professional despite his initial achievements. To maintain clean records of both profit and loss margin reading as a trader is inevitable because despite the level of knowledge you might have acquired there must always be a newer technique you learn each time you seek to update your previous views about how the market behaves.

Only gamblers stay a full month without refreshing their memories on what the already know because in as much as trading is concerned there are multiple ways of predicting market flows and it only takes consistent research to get a hand full of approach to maintain a good profit margin in trading.

A  good/consistent/profitable/sustainable trader does know the  following;

- Good risk management
- Good emotion  handling
- Good finance handling
- Good on making back up plans
- Accepts losing trades and doesnt get impulsive
- Knows to read up TA and FA consideration

People do mostly realize in the end on when their expectations had failed out on the market.

You seem to be a professional trader! I'm curious to know since when have you been involved in the crypto market?
I don't trade often, but I always keep an eye on the market and wait for the opportunity to buy at a good price. I think that a trade should manage capital in the most effective way, of course risks will always occur. So no one dares to claim to be a good trader.

[Sled]

It is a way to think that if you want to become a trader, then you must have proved it otherwise, it was just a dream.
Trading requires not only TA and FA, it sometimes needs your common sense.

Things that we can't deny that trading is too risky. You can make TA and FA as requirements but we never expect that it everything will be resulting good. Because trading is just like a game, sometimes you lose and sometimes you win even how good you are. Honestly, not all the time we are lucky.

[ven7net]

It's just as simple as the both goes hand in hand both for technical and fundamental analyst. Trading is one career that requires steady update on how the news could affect the direction of a trade or possibly how an indicator or a candle stick can direct a trader on where the market is heading. If there is no time for a consistent update on your previous knowledge as a trader I guess at some point some level of gambling sets in.

A successful trader isn't a trader who makes consistent profit without any loss but rather a trader who knows why his trade went the opposite direction and also a trader who understand risk management. Most traders makes massive profit in a single trade and blows everything down in the next trade as such there is no professional despite his initial achievements. To maintain clean records of both profit and loss margin reading as a trader is inevitable because despite the level of knowledge you might have acquired there must always be a newer technique you learn each time you seek to update your previous views about how the market behaves.

Only gamblers stay a full month without refreshing their memories on what the already know because in as much as trading is concerned there are multiple ways of predicting market flows and it only takes consistent research to get a hand full of approach to maintain a good profit margin in trading.

Unfortunately, traders do not always get what they want from trading, and this is primarily due to the fact that some traders ignore information about changes in the markets. But this is not the biggest problem, for successful trading you need to do more than just study the news and follow the charts, which is very well shown in the movie "Billions". Although this is a film, I think its information was taken just from the mother-in-law situation in the markets. In simple words, the market is also very often not fair games and you can easily become a victim if you are not aware of them. In general, it all comes down to a game and very often this game goes without rules.

[BITCOIN4X]

After the decision of the Chinese government to ban mining and cryptocurrency was made public, the market immediately reacted to it by lowering the price. This suggests that any news, positive or negative, affects the price of the cryptocurrency and you can expect a pump or dump accordingly.

Apart from positive and negative news, several factor can affect price, current political condition can also affect price. When we have become a trader, we also have to be prepared with all condition that will affect the price so that we have anticipation when the price drops -10% or more. The best quote here is that we play between price fluctuation and it is our responsibility to be able to anticipate the worst condition.

[jaberwock]

A successful trader isn't a trader who makes consistent profit without any loss but rather a trader who knows why his trade went the opposite direction and also a trader who understand risk management. Most traders makes massive profit in a single trade and blows everything down in the next trade as such there is no professional despite his initial achievements. To maintain clean records of both profit and loss margin reading as a trader is inevitable because despite the level of knowledge you might have acquired there must always be a newer technique you learn each time you seek to update your previous views about how the market behaves.

Yup you are hundred percent right about this. A trader has to be someone that is always updated on what’s happening in the market. If you’re not updated with what’s happening, then what you’re doing should be considered as gambling, because you’re just trying out your luck. Especially in a market like this where there is volatility, you should know what you’re doing.

I have seen people complain that technical analysis is not working out for them when it comes to trading cryptocurrency, ad because of that they feel that it’s worthless, which is not true. When trading cryptocurrency, we need to have a combination of technical analysis and fundamental analysis to go with. That way you will be ready for whatever is coming.

[Lakai01]

Yup you are hundred percent right about this. A trader has to be someone that is always updated on what’s happening in the market.
-snip-

I honestly don't see it that way, no. At least not for high-frequency traders.
When someone trades on very small time frames (1h - 24h), then indicators play a much bigger role than, for example, the market sentiment or the publication of news (Apple buys BTC, China bans Bitcoin once again, ...). These usually cause a very high deflection in the chart, but is for small time windows practically hardly relevant and must almost be stamped as luck or bad luck if one of your trades meets such a news.

[el kaka22]

OP is very right, trading is not something you learn once and then become good at it and do it forever, it just not the way it works. I am telling you there could be someone who studied trading for 50 years and then stop learning about it and then in 20 years he will be purely losing without earning (of course his age could be very high but you get the point).

So long story short it doesn't matter how long you have been a trader, you could be trading for a long time but if you stop learning then you stop earning. Warren Buffet himself once said that he keeps learning new ways to find undervalued stocks all the time, newer and better ways, even upgraded his PC recently at age 90 just to check the stocks he wants to check. If Warren Buffet can accept that after nearly 70 years of being the best investor in the world he could still learn more about how to trade, then you shouldn't feel any different.

[TheGreatPython]

1. If you are full time trader yes. But full time traders in stocks and shares, where you handle commissions and budgets and portfolios.
2. Why I say not for crypto? Because news does not affect it like stocks do. The highs and lows of crypto markets seem to be affected by events more than news (like whales selling, regulations banning stuff). News like central banks decisions and financial crashes do not seem to hit crypto until after a while.

Not sure how you came to the conclusion that news doesn't affect the crypto market. I mean when the news came out that China has banned the crypto mining, there was utter chaos within the crypto holders and traders while the price also went down. When the announcement and news came out that Tesla no longer accepts Bitcoin as payment, the price was pummeled down badly, something we are still recovering from.

I actually think that news and small things affect the crypto market more than they affect the stocks market because the rumor spread through the community like fire and people believe each other even without verifying the news because bitcoin isn't centralized, there is no source to confirm the news either unlike the stocks market where you may have the ability to verify a rumor or news being spread.

[Ryker1]

After the decision of the Chinese government to ban mining and cryptocurrency was made public, the market immediately reacted to it by lowering the price. This suggests that any news, positive or negative, affects the price of the cryptocurrency and you can expect a pump or dump accordingly.

Apart from positive and negative news, several factor can affect price, current political condition can also affect price. When we have become a trader, we also have to be prepared with all condition that will affect the price so that we have anticipation when the price drops -10% or more. The best quote here is that we play between price fluctuation and it is our responsibility to be able to anticipate the worst condition.

Well, that was sound good advice.
That is why we should also always have updated the news because they have an effect on the market price, it could be can create small drops and it can cause losses while you are in trading. Anticipation in all matters comes or that possible consequences that you will perhaps encounter while trading is the best move as a trader. Trading is not just easy making money and not all the time we will always make a profit, there are sometimes that we will also experience losses and we should accept the possible outcome either positive or negative result.

[adzino]

It's just as simple as the both goes hand in hand both for technical and fundamental analyst. Trading is one career that requires steady update on how the news could affect the direction of a trade or possibly how an indicator or a candle stick can direct a trader on where the market is heading. If there is no time for a consistent update on your previous knowledge as a trader I guess at some point some level of gambling sets in.

A successful trader isn't a trader who makes consistent profit without any loss but rather a trader who knows why his trade went the opposite direction and also a trader who understand risk management. Most traders makes massive profit in a single trade and blows everything down in the next trade as such there is no professional despite his initial achievements. To maintain clean records of both profit and loss margin reading as a trader is inevitable because despite the level of knowledge you might have acquired there must always be a newer technique you learn each time you seek to update your previous views about how the market behaves.

Only gamblers stay a full month without refreshing their memories on what the already know because in as much as trading is concerned there are multiple ways of predicting market flows and it only takes consistent research to get a hand full of approach to maintain a good profit margin in trading.

Unfortunately, most of the traders that you will see are just here to gamble. They won't "read" anything or try to understand. All they know is that crypto currencies will give them profit. They think it's very simple to buy low and sell high. Sadly they are the ones that loses everything  and then they start crying that crypto currencies are all scam. While some at least learn from those mistakes and do better in the future, rest of them just gives up, regrets and tries to stop others from trading.

[Bollexz1]

It's just as simple as the both goes hand in hand both for technical and fundamental analyst. Trading is one career that requires steady update on how the news could affect the direction of a trade or possibly how an indicator or a candle stick can direct a trader on where the market is heading. If there is no time for a consistent update on your previous knowledge as a trader I guess at some point some level of gambling sets in.

A successful trader isn't a trader who makes consistent profit without any loss but rather a trader who knows why his trade went the opposite direction and also a trader who understand risk management. Most traders makes massive profit in a single trade and blows everything down in the next trade as such there is no professional despite his initial achievements. To maintain clean records of both profit and loss margin reading as a trader is inevitable because despite the level of knowledge you might have acquired there must always be a newer technique you learn each time you seek to update your previous views about how the market behaves.

Only gamblers stay a full month without refreshing their memories on what the already know because in as much as trading is concerned there are multiple ways of predicting market flows and it only takes consistent research to get a hand full of approach to maintain a good profit margin in trading.

It is being aid that until when dome one knows the basic rules behind trade one will only be gambling.

However, some knows how to analyse the market technically but quite lazy to carry out their self operations.

Further stress more, one can as well run a fundamental analysis by listening, watching or reading fundamental news but instead they decided to get misleaded by one influencers.

#DYOR goes a long way in trader's life!.

[Mahanton]

...News like central banks decisions and financial crashes do not seem to hit crypto until after a while.

After the decision of the Chinese government to ban mining and cryptocurrency was made public, the market immediately reacted to it by lowering the price. This suggests that any news, positive or negative, affects the price of the cryptocurrency and you can expect a pump or dump accordingly.

Not all the time but most likely this is really the case been happening where market is highly reactive to news this is why people are really very keen on looking for these kind of information
specially on upcoming events but most of the time where news pops out from nowhere leaving lots of questions in mind on what the heck happened?
You should really be mindful on times like these because market is highly reactive to market neither it would go up or down depending on the sentiment
if its positive or negative, this is why you should really be watching out and be reactive.

[Yamifoud]

After the decision of the Chinese government to ban mining and cryptocurrency was made public, the market immediately reacted to it by lowering the price. This suggests that any news, positive or negative, affects the price of the cryptocurrency and you can expect a pump or dump accordingly.

Apart from positive and negative news, several factor can affect price, current political condition can also affect price. When we have become a trader, we also have to be prepared with all condition that will affect the price so that we have anticipation when the price drops -10% or more. The best quote here is that we play between price fluctuation and it is our responsibility to be able to anticipate the worst condition.

Well, that was sound good advice.
That is why we should also always have updated the news because they have an effect on the market price, it could be can create small drops and it can cause losses while you are in trading. Anticipation in all matters comes or that possible consequences that you will perhaps encounter while trading is the best move as a trader. Trading is not just easy making money and not all the time we will always make a profit, there are sometimes that we will also experience losses and we should accept the possible outcome either positive or negative result.

Well, news has a huge market influence, and we have to include this when making decisions. But of course, we need to analyze the situation carefully seems some news is created to ruin the market (fake news). But the problem if you are an emotional trader, that might catch your attention and usually get panic.
A trader must have to know how to control this thing as this commonly brings losses. And if we don't learn how to control this, I'm sure that we can never be succeed.

[arwin100]

After the decision of the Chinese government to ban mining and cryptocurrency was made public, the market immediately reacted to it by lowering the price. This suggests that any news, positive or negative, affects the price of the cryptocurrency and you can expect a pump or dump accordingly.

Apart from positive and negative news, several factor can affect price, current political condition can also affect price. When we have become a trader, we also have to be prepared with all condition that will affect the price so that we have anticipation when the price drops -10% or more. The best quote here is that we play between price fluctuation and it is our responsibility to be able to anticipate the worst condition.

Well, that was sound good advice.
That is why we should also always have updated the news because they have an effect on the market price, it could be can create small drops and it can cause losses while you are in trading. Anticipation in all matters comes or that possible consequences that you will perhaps encounter while trading is the best move as a trader. Trading is not just easy making money and not all the time we will always make a profit, there are sometimes that we will also experience losses and we should accept the possible outcome either positive or negative result.

Well, news has a huge market influence, and we have to include this when making decisions. But of course, we need to analyze the situation carefully seems some news is created to ruin the market (fake news). But the problem if you are an emotional trader, that might catch your attention and usually get panic.
A trader must have to know how to control this thing as this commonly brings losses. And if we don't learn how to control this, I'm sure that we can never be succeed.

That's from this kind we will  know if trading is really for us since not everyone is capable doing a trade especially if they cannot handle their emotions as they only have limited capital to spend on their trades. Many fuds are now destroying the market condition  so if we really  don't research about the possible out come and just  trade out of nowhere  then possibly we will lose and turn angry about our result in a day. Maybe before going to trade the one needed to learn by traders is how they can handle the stress of the market before they proceed.

[TimeTeller]

Totally right, without knowledge and wisdom in trading is like going to a war with only a knife, you can get lucky that you will survive but the chances are really slim. That's why I am not yet doing any trading because I haven't read enough to do an actual trading. To every aspiring trader, you might want to take this advice to heart because it will save you from lots of headaches and big losses but there's more component that you have to at least fulfill because knowledge alone isn't going to be enough.

Why not while reading, start trading small? Just use small funds that you can very well afford to lose.
The actual experience is sometimes very different from what you read.
Crypto trading is a very high risk activity to get involved with, so you really need to prepare yourself here, mentally, emotionally, financially.
Because at the end of the day, it is your money at risk, so all the people that serve as advisors won't take care of your business.

[Zilon]

What else do I do with my time if I can't devote atleast 8hours every week to refresh my memories on what it takes to keep the profit flowing knowing fully well that different approach works on different market conditions. Some times scalping might be the best and in some cases positional trading might be the best. But in all the sole aim is to make profit I total agree with you @Op we need to read and re-read to gain full mastery