Will you advice a new trader to join a trading community or group?

[Jatiluhung]

As long as a recommended community or group is filled with reliable traders who are always sincere in sharing their insights on trading then suggesting such a group to novice traders is not a bad thing.

beginners can learn from the experiences of their colleagues in the community they enter. But it's just that the worry is that beginners are always easily influenced. so beginners need basic knowledge first which they can search for on their own from the internet. Joining a trading community can sometimes bring good results but can also bring bad psychological ones. like we are affected psychologically when we see other people are able to get the maximum profit easily. beginners can rush to imitate it without knowing that there are many things they have to learn first to get maximum results like everyone else.

[libert19]

No, they pollute the mind. Better get some book, put lessons into practice and learn from happenings.

I say dependency is bitch, do not depend on anyone for your welfare, as much as possible and trading groups are certainly avoidable. When you depend only on yourself there is less chance for blame game too.

[xSkylarx]

Even if you don't understand what they are saying or can't relate to it, later in your journey you will realize and understand it. It is really recommended for someone to join a community or group because you can ask them questions. This refers to like joining trading forums; there are threads there for newbies, meaning you can understand them so you keep reading and asking questions there. This sort of thing helps you improve easily; find another person that you can ask and rely on, and mostly, you can hang out with them to have fun.

[DevilSlayer]

Trading group is good but be sure that the members are solid, there are a lot of trading communities nowadays that are consider as trash because of the toxic environment that they have. Choose a trading community that can help you to become better, a trading community that can teach you a good attitude and also to be consistent profitable in trading. I really recommend someone to join in a trading group for their own improvement because their curve of learning can lessen by joining in trading community.

What's hard is not joining, it is about choosing community. There are communities who are sharing their personal trades and for me it is not good community because the newbies will tend to become comfortable wherein they will be dependent on someone else just for them to trade. What I like is a community who will teach how to trade properly, the process and also teach you how to think like a trade while your analyzing a chart.

[crwth]

As a trader, things can get difficult and discouraging if you cannot relate with any other person who will have a good understanding of what you are saying concerning trading, to solve that challenge, are you part of any trading community or group that you share tips and new strategies? What other ways can you say you have benefited from being in a community asides sharing of tips and strategies. Are you doing better than when you did things on your own. Can there be any major disadvantage being a member of such a trading groups? What is your advice to people?

What do you mean by relating to other people or another person? You don't need that to trade. You have to understand the market and trade accordingly. I don't believe it's a requirement to have some connection with other people or even be part of a trading community to trade. You can improve yourself in those ways, but it's up to you if you ever go on your own and try to trade on your own.

I don't think there's a big disadvantage, but one main concern is that you will be following a group, which could influence you. You could get lost in all of it and maybe distract yourself from ever trading because the trading community or something influences you.

[GeorgeJohn]

Even if you don't understand what they are saying or can't relate to it, later in your journey you will realize and understand it. It is really recommended for someone to join a community or group because you can ask them questions. This refers to like joining trading forums; there are threads there for newbies, meaning you can understand them so you keep reading and asking questions there. This sort of thing helps you improve easily; find another person that you can ask and rely on, and mostly, you can hang out with them to have fun.

From my previous reaction or response in this thread, they is a part I stated that joining a group might mislead you because you be taking all the advice or the informations that comes from the group as necessary one, so I believe that with your research you can be independent, because what we are emphasising on, is your capital and you need to protect it by making your own consultation concerning trading so that you will fully capture the risk which is involved into Trading and other things you will found out without someone briefing you or educating you.

[borovichok]

Even if you don't understand what they are saying or can't relate to it, later in your journey you will realize and understand it. It is really recommended for someone to join a community or group because you can ask them questions. This refers to like joining trading forums; there are threads there for newbies, meaning you can understand them so you keep reading and asking questions there. This sort of thing helps you improve easily; find another person that you can ask and rely on, and mostly, you can hang out with them to have fun.

Communities and groups are basic tools which enable newbies to be able to open a trading positions that will earn them enormous profits. These communities mostly dropped free trading signals in the market and they're 80% accurate. Getting intouch with top influencers and experience traders in the market when joining trading communities and groups will aides in helping a newbie become more confidence and speedy to understand how the market operates. One can not be able to learn everything alone, rather he or she needs full assistance from others who have been in the space before him or her.

[WatChe]

From my previous reaction or response in this thread, they is a part I stated that joining a group might mislead you because you be taking all the advice or the informations that comes from the group as necessary one, so I believe that with your research you can be independent, because what we are emphasising on, is your capital and you need to protect it by making your own consultation concerning trading so that you will fully capture the risk which is involved into Trading and other things you will found out without someone briefing you or educating you.

You are pointing in right direction, regardless of what info you are getting from trading group or community the biggest downside is that you don't use your own mind in making decisions. In other words we rely on easy money i.e. based on other ideas and research we follow a strategy that can give good return.
It may work one or two times but in the long run one is deemed to bear losses. Make your own decisions, even if they are wrong you will learn something.

[death69]

Trading community? Look, I ain't big on rolling with a crew when it comes to trading—I'm more like a lone ranger in the wild west of stocks. But I've caught wind of success stories from traders who found a tight-knit fam in these groups. Exchanging tips, strategies, that's the main draw. But let me drop some wisdom: the most vital thing I picked up as a trader is trusting my gut and my own sleuthing. See, trading communities can sometimes lure you into groupthink, where everyone's riding the same wave and not really thinking for themselves. So, yeah, trading communities got their perks, but remember to stay independent and trust your own analysis.

[gunhell16]

As a trader, things can get difficult and discouraging if you cannot relate with any other person who will have a good understanding of what you are saying concerning trading, to solve that challenge, are you part of any trading community or group that you share tips and new strategies? What other ways can you say you have benefited from being in a community asides sharing of tips and strategies. Are you doing better than when you did things on your own. Can there be any major disadvantage being a member of such a trading groups? What is your advice to people?

It's your choice, no matter what group you choose, as long as you adapt the one that will be beneficial and help you.

But in my experience, even though I didn't join a group, I learned to trade based on what I actually do in the centralized exchange and DEX. But if you really want to learn, watch the tutorial trades on YouTube, even if the content creators are not detailed, you will surely get tips and lessons there.

[LogitechMouse]

Can there be any major disadvantage being a member of such a trading groups? What is your advice to people?

You might get overwhelmed by the tons of advices that they can give to you.

I mean there is nothing wrong with joining a trading community or group because I also joined one or two when I was still new to trading. The problem that I encounter is that, the amount of information that they're giving to a newbie is too much that you might get overwhelmed because of the terms, the tips or the strategies that they are giving. It comes to a point where I don't want to read their comments anymore because it's too much for me. I don't know if there is somebody aside from me whose experiencing this, but I see it as a disadvantage, and can affect your learning journey.

My advice? I'm not an expert in trading like most of us, but learning on your own pace will help you. This helped me learning trading. I watched Youtube videos, tried some strategies personally, and fortunately I'm getting some profits in trading already.

[Jody.Drummer]

I will not suggest and I also will not prohibit beginners from joining communities or trading groups. That can be fine as long as the goal is to gain knowledge and share experiences with each other on what to do in trading. Also it will not be good if the initial goal is wrong, such as following other people's trading methods, or swallowing what people in the group say. And also don't be mistaken for having a trading community or group, because many of them only take advantage of new members for their own interests, such as selling trading signals or something like that.

There are actually some advantages on joining a trading community, you share trade ideas, you learn from the experiences of others, you find immediate friends to support you on your trades especially when you’re devastated, and while the interest keeps growing, your learning will also not stop. However, if you join these communities to pay others to do trading for you, that is a disadvantage on your part. Although you can be stress free and trade effortless, but in the end you learned nothing and just become loser when those people who trade for you will leave the community. It’s good to engage yourself in a trading community, but never rely on them for your decision making in doing your final trades.

The problem is that when they still don't have any basis in trading, it looks like they are standing by to those who are already there and I have felt that before because they were there, the assumption was that we could get leaked signals for free without needing to think about analysis or anything, because already There is.
Indeed, to increase knowledge is a good thing, but we cannot be completely complacent with it because we also have to keep learning to be better so that the condition is not detrimental to ourselves in the end.

[Dr.Bitcoin_Strange]

Even if you don't understand what they are saying or can't relate to it, later in your journey you will realize and understand it. It is really recommended for someone to join a community or group because you can ask them questions. This refers to like joining trading forums; there are threads there for newbies, meaning you can understand them so you keep reading and asking questions there. This sort of thing helps you improve easily; find another person that you can ask and rely on, and mostly, you can hang out with them to have fun.

That's only the essence of it; the person gathers a lot of information or lessons that would still be useful as they keep improving, but the disadvantage is that the newbie, who may really want to make quick profit, will want to try almost every suggestion or strategy, which can result in a loss for them. But if the newbie gets lucky, they can have a friend that may be willing to help them all along, and they could easily ask questions in the group if they make mistakes. I just think it is wise to warn a newbie about some dos and don'ts before advising them to join a trading group.

[ethereumhunter]

I used to be a part of a community or trade group on WhatsApp before but now I prefer to be a passive member who doesn't chat much with other people and only with people I know closely. And in the past, I've often recommended new people I know to join me so they can learn from people who know more about trading.

In the WhatsApp communities and groups, beginners (my friends) can learn a lot about trading, tips and strategies or ways to analyze and we all learn together through those groups and communities. We can also introduce other beginners to join, but we must first get to know the members who have joined the community or trading group so that beginners feel comfortable when they join.

[Cling18]

As much as possible, I will not suggest or advise a beginner to join a trading community but instead, I will suggest legit resources where he could learn more about trading which will be helpful for him to grow in trading industry. If he knows the basics as well as the risks of crypto trading, then that's the right time for him to join groups. Joining trading community at an early phase might only cause him confusion and it might plant a wrong mindset in a beginner so it will be best for him to focus on educating himself first.

[Davidvictorson]

Can there be any major disadvantage being a member of such a trading groups? What is your advice to people?

I think the real question should be what should newbies consider before joining an online trading community. Mind you, it is totally safe to join an offline trading community organized by friends. Basically, it is like the pros and cons. Some pros of joining an online trading community for newbies is that, they get the opportunity to get support from community members, they would have access to trading resources which will be tailored to meet their needs at the newbie level, it will also serve as a platform where trading ideas, tips and tricks are shared. However, do not just join any group, what is their reputation like, does your trading goals and interests aligns with that of the ? Consider these questions and have them in mind when doing your research on the group.

If this group claims that it will help you to profit, or that they are professional traders, or that you follow their trading strategy, or any form of payment to members of the group, then it is better to stay away from those groups because you will not learn, but rather you will be exploited to make an investment that will benefit them.
Open groups in which people share their opinions and analyzes away from any biased point of view are the best, and Speculation board in this forum is an example of that.

I totally agree with this point. Me thinks that this is where most newbie traders get it wrong. Because they are in a hurry to make $1000 in first 30days, they easily fall prey to so called trading gurus who talk big and promise them the masterclass of their life that will turn them into millionaires in 10 days if they can buy their course, book a seat in their class so as to take advantage of their award wining trading strategy.

[posi]

If it is for the purpose of accumulating knowledge as well as exchanging experiences or skills, it should be encouraged. But if he is lazy and joins groups or communities for the purpose of looking for signals or copying someone's trades, then that should be banned in the first place. But to give advice on a particular group is beyond my ability as I am not aware of such groups myself, I have never tried to find or contact anyone for this purpose. I'm not good at trading either, but I'd rather spend my money in exchange for the experience than give my money to someone else to spend.

[Mpamaegbu]

...are you part of any trading community or group that you share tips and new strategies?

No man is an island just the same way a tree can't make a forest. It's highly advisable that traders should belong in a trading community they find fit, despite how learned or professional they think they're. If they aren't learning, they will be teaching noobs. Knowledge shouldn't be hoarded. It's either one is giving or one is receiving when it comes to life (trading).

Are you doing better than when you did things on your own.

Yes, as a trader, I also belong to certain trading communities. Belonging to them doesn't mean that one will always take whatever trade calls or perspectives made therein. However, I'm better off being in these trading communities than if I weren't. They helped broaden my horizon.

Can there be any major disadvantage being a member of such a trading groups?

Nope, there shouldn't be any disadvantages. One doesn't lose anything cross fertilizing ideas with others. Nonetheless, one has to be very careful to avoid scam groups.

[gabbie2010]

As a trader, things can get difficult and discouraging if you cannot relate with any other person who will have a good understanding of what you are saying concerning trading, to solve that challenge, are you part of any trading community or group that you share tips and new strategies? What other ways can you say you have benefited from being in a community asides sharing of tips and strategies. Are you doing better than when you did things on your own. Can there be any major disadvantage being a member of such a trading groups? What is your advice to people?

From onset I always read educative threads related to trading on this forum and also member of forexfactory where trading strategies and tips is discussed, though it mainly on forex trading and I must confess I had learnt a lot from those communities with regards to trading tips, learning fundamental and technical analysis and testing of different trading strategies and there isn't any disadvantage for being a member of those forum infact I always eager to read latest information on possibly upcoming trading opportunities related to a particular trading strategy.

[Nrcewker]

Yes, you should definitely join a trading community or group. But you should only join it to learn how to trade and when to trade and when not to trade; if you are only joining to get free calls from the group, then I would suggest you not do so. Trading on other people’s calls is not good, at least not for a beginner. If the call turns out to be good, then you're going to praise the person who gave you the call, but if the call turns out to be bad and by chance you lose your hard-earned money for it, then you're going to curse that person for the rest of your life. So it’s important to learn trading from scratch. If you are a newbie, then it’s better to have theoretical knowledge at first, then go for live trading.