Crypto Currency trading without knowledge

[Tony116]

Once you have no knowledge, then you will never succeed in any field, and there is no solution for you to succeed without knowledge. Knowledge is the only way to success. If you are lazy, don't expect to rely on someone or use cheap bots to help you do it, and if successful then it is not your success but the success of others, you are parasitic. It is confusing that to this day, many people still dream that they will succeed without doing anything or having no knowledge.

[1714262084]

1714262084

[xSkylarx]

Still, it is better to have basic knowledge of what you've stated above rather than jumping into it, but there are really newbies who want to earn fast and easily, like overnight. A trading bot is also not that reliable, and if you purchase one, it is better if you build it from scratch, as you know where it goes and what the problem is, rather than buying it and then not knowing what happens. No matter what move we choose, learning is the very first step to being successful.

[Pandu Geddon]

Once you have no knowledge, then you will never succeed in any field, and there is no solution for you to succeed without knowledge. Knowledge is the only way to success. If you are lazy, don't expect to rely on someone or use cheap bots to help you do it, and if successful then it is not your success but the success of others, you are parasitic. It is confusing that to this day, many people still dream that they will succeed without doing anything or having no knowledge.

in fact, until now there are still novice traders or maybe traders who have been around for a long time but only use and depend on trading signals or trading bots.
they will never improve, more beginners do it out of curiosity. once a signal is no longer profitable or inappropriate. they will go and start learning to trade independently.
time-consuming, I used to also join signal groups and also try bots. however, the sensation is different when you profit from the trades you make yourself. it takes time, but we will have more value in knowledge and experience.

[adaseb]

I am pretty sure the majority of retail traders whether it’s in crypto or stock market have basically no idea what they are doing.

There is less of them now but back in late 2021 you had people quit their jobs to trade crypto full time and we know how that went. Everybody knows how to make money in a bull market. Just keep buying and don’t sell too early. It becomes difficult when the bubble bursts and you give all your profits away.

[maydna]

I never recommend someone to start trading without having any skills and just relying on instinct. Maybe it could work by accident but it won't happen as often after you close your trade. It's better to try to learn to analyze than to trade without knowledge or skills because we won't be able to make a profit.

And even if you use a bot, you still have to make settings on it so it can run the way you want. But if the market immediately reverses, you still have to set up the bot again. And that means you must still have the knowledge and ability to use bots properly.

[DanWalker]

Once you have no knowledge, then you will never succeed in any field, and there is no solution for you to succeed without knowledge. Knowledge is the only way to success. If you are lazy, don't expect to rely on someone or use cheap bots to help you do it, and if successful then it is not your success but the success of others, you are parasitic. It is confusing that to this day, many people still dream that they will succeed without doing anything or having no knowledge.

in fact, until now there are still novice traders or maybe traders who have been around for a long time but only use and depend on trading signals or trading bots.
they will never improve, more beginners do it out of curiosity. once a signal is no longer profitable or inappropriate. they will go and start learning to trade independently.
time-consuming, I used to also join signal groups and also try bots. however, the sensation is different when you profit from the trades you make yourself. it takes time, but we will have more value in knowledge and experience.

That's right, let the newbies experience it all, and then they will realize everything, what they need to do and what not to do to survive in this market. For newbies, I hardly want to give any advice as I believe they won't listen to us until they experience it for themselves. There's no better advice than letting them experience it all for themselves and learn from it.

Although OP's suggestions are really useless, but for newbies, I think it's still a good idea to try a little bit of each thing to learn, and they will find that there is no way to make money other than having full knowledge.

[boyptc]

And even if you use a bot, you still have to make settings on it so it can run the way you want. But if the market immediately reverses, you still have to set up the bot again. And that means you must still have the knowledge and ability to use bots properly.

Having a bot don't guarantee anything but it automates your trading which will save you time.

It's true that there's still a need to setup the bot and you can't just buy a bot and expect that it will bring you profits on an instant.

Making such with bots is a combination of your knowledge in trading and also what you know about the market. There are newbies that think you'll get profits easily by just having that but no.

[freedomgo]

Well, you gotta start trading to gain knowledge as well. After a few readings, you gotta take action and be on the game already, you can't just keep reading. A little bit of knowledge like once you have set up your tradingview with a minimum of 3 indicators, would be enough as a basis for your trading decision.

You gain knowledge as you lose and win along your journey to trading crypto.

Experience will always be the best teacher after all as it’s considered the application based on your gained knowledge, and definitely will improve your knowledge as well. However, trading with no prior knowledge even from merely reading or watching trading videos will never be advisable because surely it’s never gonna work and all you will gain are just mistakes and losses. Even if you have the passion to trade but with no ideas on how to do it because you have not gained any knowledge from the start, then it’s best to never start trading.

[maydna]

And even if you use a bot, you still have to make settings on it so it can run the way you want. But if the market immediately reverses, you still have to set up the bot again. And that means you must still have the knowledge and ability to use bots properly.

Having a bot don't guarantee anything but it automates your trading which will save you time.

It's true that there's still a need to setup the bot and you can't just buy a bot and expect that it will bring you profits on an instant.

Making such with bots is a combination of your knowledge in trading and also what you know about the market. There are newbies that think you'll get profits easily by just having that but no.

Automating our trading time is fine if the market conditions have moved better and are still improving, but we know that market conditions often change, which means we have to be able to see how the market changes, and if necessary, we can rearrange orders we have done before. If you can live with the consequences of running a bot, you can keep using it. Otherwise, manual trading will be better for you because you decide when you trade. And it also won't require you to check the bot frequently to see how it's set up.

[milewilda]

And even if you use a bot, you still have to make settings on it so it can run the way you want. But if the market immediately reverses, you still have to set up the bot again. And that means you must still have the knowledge and ability to use bots properly.

Having a bot don't guarantee anything but it automates your trading which will save you time.

It's true that there's still a need to setup the bot and you can't just buy a bot and expect that it will bring you profits on an instant.

Making such with bots is a combination of your knowledge in trading and also what you know about the market. There are newbies that think you'll get profits easily by just having that but no.

One of most misconception about bot is that newbies do really believe that it is really a way on making money without doing such hassle or further steps which they arent able to realize that they arent money making generating bots which they are really been thinking and this is why on the time that they are in loss then they would be tending to blame out things that it doesnt work.SOoner or later they would really be able to realize thats not how things do works.You would really be needing that knowledge for you to sustain this unpredictable market because if you dont then you would really be having that hard time on coping on things up.
You cant just run off a bot and expect that you would be making money, thats not how reality works.

[shinratensei_]

the only way you could trade and make profit all the while doesn't have even a drop of knowledge would be when you are relying heavily in signal trading.
you don't need to make a research and someone would do it for you, that's trading signal but of course that always come with implication, the signal providers might have malicious intention towards you and some ulterior motives.
the trading signal might give you profits initially but they could be just using you for their own interest, there's reason many trading signal usually don't hold on for long.
I'd say if you want to trade then you better off seeking the knowledge first because you might be risking your precious investments and surely having no knowledge would be huge disadvantage.

[bettercrypto]

It seems to be no different from copy trading, this kind of style is the work of lazy people who want to make money doing nothing.

    It's better to make money in trading knowing that you've worked hard and you'll learn from the mistakes you can face here than to use a trading bot like that, and it's been proven that it's not profitable in my few years in the industry this. Because I didn't see anyone here who said that because of the trading bot, they made a lot of money in crypto or bitcoin.

[xSkylarx]

It seems to be no different from copy trading, this kind of style is the work of lazy people who want to make money doing nothing.

They just make the money work for them. That is the pros if you have enough money to spend, but yes, they are just lazy that they want to earn profit without doing anything, but again, not all, as others are just skillful that they do copy trading as they see potential in the trader as well as save time, but most of the newbies I know will do this just to skip learning trading, which is still risky because you are just basing your decision on the profile of the trader you want to copy and also because you are not in control of your money, so if you are losing, you just can't help it but only watch losing.

[PancherSh]

And even if you use a bot, you still have to make settings on it so it can run the way you want. But if the market immediately reverses, you still have to set up the bot again. And that means you must still have the knowledge and ability to use bots properly.

Having a bot don't guarantee anything but it automates your trading which will save you time.

It's true that there's still a need to setup the bot and you can't just buy a bot and expect that it will bring you profits on an instant.

Making such with bots is a combination of your knowledge in trading and also what you know about the market. There are newbies that think you'll get profits easily by just having that but no.

One of most misconception about bot is that newbies do really believe that it is really a way on making money without doing such hassle or further steps which they arent able to realize that they arent money making generating bots which they are really been thinking and this is why on the time that they are in loss then they would be tending to blame out things that it doesnt work.SOoner or later they would really be able to realize thats not how things do works.You would really be needing that knowledge for you to sustain this unpredictable market because if you dont then you would really be having that hard time on coping on things up.
You cant just run off a bot and expect that you would be making money, thats not how reality works.

In any case, knowledge is required to use the bot.  of course, if we take the ETS platform as an example, where anyone can log in and start trading using algorithmic trading systems, but in order to achieve real results, you need to start learning to trade, namely to be able to carry out fundamental and technical analysis.

[MidnightWolf]

In any case, knowledge is required to use the bot.  of course, if we take the ETS platform as an example, where anyone can log in and start trading using algorithmic trading systems, but in order to achieve real results, you need to start learning to trade, namely to be able to carry out fundamental and technical analysis.

Do you want to say that even a person who does not have minimal knowledge and experience can just throw money into a ready-made bot and not configure anything himself?

[lixer]

the only way you could trade and make profit all the while doesn't have even a drop of knowledge would be when you are relying heavily in signal trading.
you don't need to make a research and someone would do it for you, that's trading signal but of course that always come with implication, the signal providers might have malicious intention towards you and some ulterior motives.
the trading signal might give you profits initially but they could be just using you for their own interest, there's reason many trading signal usually don't hold on for long.
I'd say if you want to trade then you better off seeking the knowledge first because you might be risking your precious investments and surely having no knowledge would be huge disadvantage.

I think that's risky because what if someone can just fool you and promise you that their signals are the best among the rest? You will only lose money on subscriptions and then lose another for choosing a wrong coin to trade or when you follow their fake signals. They are the ones who will earn this way.

This is why it's important to have some knowledge first so that we can avoid these scammers and then we can be fully independent when it comes to trading. If we get lucky, we may earn following other legit signals and professional traders but there are times that we feel something is lacking with us. That is because we can't stand on our own.

[PancherSh]

In any case, knowledge is required to use the bot.  of course, if we take the ETS platform as an example, where anyone can log in and start trading using algorithmic trading systems, but in order to achieve real results, you need to start learning to trade, namely to be able to carry out fundamental and technical analysis.

Do you want to say that even a person who does not have minimal knowledge and experience can just throw money into a ready-made bot and not configure anything himself?

Quite right, you can.  The bot has ready-made solutions.

[Suslura]

the only way you could trade and make profit all the while doesn't have even a drop of knowledge would be when you are relying heavily in signal trading.
you don't need to make a research and someone would do it for you, that's trading signal but of course that always come with implication, the signal providers might have malicious intention towards you and some ulterior motives.
the trading signal might give you profits initially but they could be just using you for their own interest, there's reason many trading signal usually don't hold on for long.
I'd say if you want to trade then you better off seeking the knowledge first because you might be risking your precious investments and surely having no knowledge would be huge disadvantage.

I think that's risky because what if someone can just fool you and promise you that their signals are the best among the rest? You will only lose money on subscriptions and then lose another for choosing a wrong coin to trade or when you follow their fake signals. They are the ones who will earn this way.

This is why it's important to have some knowledge first so that we can avoid these scammers and then we can be fully independent when it comes to trading. If we get lucky, we may earn following other legit signals and professional traders but there are times that we feel something is lacking with us. That is because we can't stand on our own.

Believe that they are trading signals not to make someone rich, but to make money yourself.  At the same time, the authors of the signals in most cases do not trade themselves, but simply make an analysis based on the available information.  I have little faith in the effectiveness of signals.

[Sterbens]

the only way you could trade and make profit all the while doesn't have even a drop of knowledge would be when you are relying heavily in signal trading.
you don't need to make a research and someone would do it for you, that's trading signal but of course that always come with implication, the signal providers might have malicious intention towards you and some ulterior motives.
the trading signal might give you profits initially but they could be just using you for their own interest, there's reason many trading signal usually don't hold on for long.
I'd say if you want to trade then you better off seeking the knowledge first because you might be risking your precious investments and surely having no knowledge would be huge disadvantage.

Even trading using signals requires some knowledge. How is it possible that we can trade without even a drop of knowledge using signals? Even when we enter using a signal we need to know how to apply it, be it when starting an entry, applying a stop loss or how to take profit (take profit). Everything is based on knowledge of course that's the main thing in anything, whether it's trading or anything else.

[taufik123]

I think that's risky because what if someone can just fool you and promise you that their signals are the best among the rest? You will only lose money on subscriptions and then lose another for choosing a wrong coin to trade or when you follow their fake signals. They are the ones who will earn this way.

Many fake signals are scattered and only target those who have no more knowledge about trading, then take advantage of them to follow the signal and get a lot of profit. It is very risky, but the scammers who do this will only smile when the rabbit falls into the trap.

This is why it's important to have some knowledge first so that we can avoid these scammers and then we can be fully independent when it comes to trading. If we get lucky, we may earn following other legit signals and professional traders but there are times that we feel something is lacking with us. That is because we can't stand on our own.

Legitimate signals also do not provide a guarantee of profit. It still requires basic knowledge of how to trade properly and correctly. Not only reading the numbers but also analyzing whether the signal is good or not. Some professionals who provide signals, not only provide a buy and sell number, but they also include their technical analysis charts so that they also know what the scenario will be.

Believe that they are trading signals not to make someone rich, but to make money yourself.  At the same time, the authors of the signals in most cases do not trade themselves, but simply make an analysis based on the available information.  I have little faith in the effectiveness of signals.

Signal makers also trade, but they trade by utilizing people who believe in the signals they create.
Buy a list of coins to signal, then give the signal to beginners and they will start executing it.
The newbie's buy order will become the signal maker's sell order.