How do you feel about high-profile traders making wrong calls ?

[Mahanton]

I'll give you two examples: Garreth Soloway ( featured in Kitco a few times ) and Davinci ( early Bitcoin adopter )
They both shorted Bitcoin at 50K - 49K. And quite likely they're both getting liquidated soon.
To me it simply goes to show anyone can be wrong, and you shouldn't be certain of anything short term.

Whether you are a Crypto OG or something or to those traders who do make out some big calls in the past but this isnt really something enough for you to make yourself getting exempted with wrong calls.
One of the reasons on why im not really that a fan on following someone when it comes to trading calls and suggestions or whatever it would be. I do really instill into my mind that we are all speculators on this world
on which there's no person who would be having those all the time right decisions and calls about movement of the price.It would never be called speculative in the first place if it was that predictable
on which it is really just that right that you should really be skeptical whenever someone who do make out those claims that they are good and always right. lol

Predicting even on the last minutes movement is already that random and not known. If there would be tons of people such as this then they are really that hell of a rich guy
and doesnt really mind about sharing up their tips into the masses.

[1714490610]

1714490610

[1714490610]

1714490610

[1714490610]

1714490610

[mindrust]

I'll give you two examples: Garreth Soloway ( featured in Kitco a few times ) and Davinci ( early Bitcoin adopter )
They both shorted Bitcoin at 50K - 49K. And quite likely they're both getting liquidated soon.
To me it simply goes to show anyone can be wrong, and you shouldn't be certain of anything short term.

You need to learn from them so you won't end up like them. Jesse Livermore used to be the world's best trader. He made money while everybody was losing during the depression in 1929. He was shorting the markets when everybody was on the other side of the trade and he won. He won big. In 1934, 5 years later, he lost everything and ended his own life.

What does that story tell you?

Winning is hard. Keeping what you have is harder.

[Bushdark]

I'll give you two examples: Garreth Soloway ( featured in Kitco a few times ) and Davinci ( early Bitcoin adopter )
They both shorted Bitcoin at 50K - 49K. And quite likely they're both getting liquidated soon.
To me it simply goes to show anyone can be wrong, and you shouldn't be certain of anything short term.

I think it's not all about shorting Bitcoin but they want to create a trigger in the market that would make people start selling there Bitcoin just like them so that Bitcoin would fall and the will keep making money from the dip. Sometimes many of the analysis we keep seeing in the market are just to create problems in the market so that people would have no option than to sell their Bitcoin just like the way it has been happening before. It is only the whales that would have the power to manipulate the market not ordinary traders.

[Mauser]

I'll give you two examples: Garreth Soloway ( featured in Kitco a few times ) and Davinci ( early Bitcoin adopter )
They both shorted Bitcoin at 50K - 49K. And quite likely they're both getting liquidated soon.
To me it simply goes to show anyone can be wrong, and you shouldn't be certain of anything short term.

I think it's fine to share your positions publicly, especially short position traders will be eager to try and tell as many people as possible why the investment is doomed at the moment and it makes a lot of sense to sell their positions. After putting on a trade as a high-profile trader, there will be many people interested. And all the people that follow your strategies are going to help to move the price into your favour. For me these high-profile traders are just entertainment, I am not going to copy their trades or being influenced by their convictions. There will be big traders that are long in the market and big traders that are short. The crypto markets became so competitive and active in the last few years that we are going to find a trader for any type of strategy. This just shows again that every trader can be wrong, it's not going to be that the famous traders are going to be right every trade they put own. When it comes to trading it's important to have more positive than negative trades, but our goal shouldn't be to make money with every trade. A good trader will also realise that he is wrong and take a loss to close out his failing position.

[Natsuu]

Well, I think it's normal. Anyone could make a mistake in trading. Qe traders are not perfect, so expect that we could make a mistake, and those experts or big names in trading are not an exception. That's the proof. Even with skills and experience in trading, we can never assure a sure trade in trading. Every trade, even with technical analysis, will have a slight margin of error, and that error could cost you much. Based on your statement, it looks like the trader takes a big risk by predicting the outcome of the bitcoin market, but we never know if they are still safe. Anyway, that's it. Now every trader will know that we are all equal in trading, as we are all vulnerable to losing trades. Anyone could feel the frustration of losing a trade, but we can't be assured because, as far as we want, we need to keep earning in trading despite the losses.

Trading's a wild ride and mistakes happen to the best of us including the big shots. It's a reality check that even with skills and experience, there's always a bit of uncertainty. No trade's foolproof even with all the analysis. It's like a shared struggle and losses sting but it's part of the game. Just have to roll with the punches and keep pushing for those gains. The trading life, right?

[jrrsparkles]

I'll give you two examples: Garreth Soloway ( featured in Kitco a few times ) and Davinci ( early Bitcoin adopter )
They both shorted Bitcoin at 50K - 49K. And quite likely they're both getting liquidated soon.
To me it simply goes to show anyone can be wrong, and you shouldn't be certain of anything short term.

No one knows what will happen in the future and it's their prediction based on something that made them to take that call and you are free to differ if you feel that it's not going to happen.

High-profile crypto users sharing such insights s more of a manipulation than their actual activity to pump or dump the market so no matter who say what, its ultimately your decision to make your strategies and giving attention to manipulators will do more bad than good.

[Len Saldua]

Can you elaborate on this ? I thought you'd lose your "bet" if the market goes against you, as with DaVinci shorting Bitcoin at 49K

[darkangel11]

I don't know why Soloway is being interviewed to be honest. When it comes to bitcoin he's mostly wrong and he doesn't admit  it nor does he apologize. He usually doubles down. I watched a couple of his rants because he was so bearish in the last 2 years that I thought I'd watch how he does for entertainment purposes and in short he did something like this.
When we were at $20k he said bitcoin was going to 9k, then bitcoin went to 16k and bounced back, so he was telling everyone it's a short-term bounce and 9k is coming, then as we kept going up (22k, 25k, 30k) he was going up with his prediction, saying that it's not 9k but 12k, just you wait, 12k is coming. 3 months later bitcoin was at 40k and Soloway was doubling down that it's 12k anyway before the halving... We all know what happened before the halving. Basically if you listened to Soloway for the last 12 months, you lost a lot of money, or a lot of opportunities.

There are people calling him out, just watch this


"Sometimes the truth hurts and that's ok."
-Gareth Soloway

[$weetne$$]

I think it's not all about shorting Bitcoin but they want to create a trigger in the market that would make people start selling there Bitcoin just like them so that Bitcoin would fall and the will keep making money from the dip. Sometimes many of the analysis we keep seeing in the market are just to create problems in the market so that people would have no option than to sell their Bitcoin just like the way it has been happening before. It is only the whales that would have the power to manipulate the market not ordinary traders.

Yes some high profile traders use their influence trying to manipulate the market, they do this because they know that if others know they're shorting Bitcoin that they'll join them in shorting Bitcoin and too when they're longing Bitcoin that the publicity will also follow them. Don't believe everything that a high profile cryptocurrency influencer is saying. They'll always want to use their fame to make money therefore they're always willing to do anything. Sometimes too they could have being wrong as they misinterpreted the market and lost their trade, there's always two types of people among high profile traders, those that want to deceive other people and those that would have made a mistake not knowing that they're wrong. Those that made a mistakes will always come back to apologize.

[Maus0728]

I don't follow much what these guys do anyway so if I'm being honest, I don't feel a thing about them getting the wrong calls because traders will do that from time to time and it just so happens that we're so used to them doing right trading that them losing their trades is such an unnatural occurence for us, it's just the reverse of being an amateur trader, you've got a lot of mistakes that you do but you're so surprised when you get a big win, see that? It's the same thing.

It's not my vibe to follow their calls because I've seen a lot of these before, fake traders and shitcoin influencers trying to promote some crypto or giving out signals that most of the time only benefits only them.

[tygeade]

I'll give you two examples: Garreth Soloway ( featured in Kitco a few times ) and Davinci ( early Bitcoin adopter )
They both shorted Bitcoin at 50K - 49K. And quite likely they're both getting liquidated soon.
To me it simply goes to show anyone can be wrong, and you shouldn't be certain of anything short term.

I feel normal because I know the high profile traders are also human beings and they can make mistakes too. Professionals traders also have losses but it's just that they have gather many experience from the many times that they have traded therefore they don't make common mistake that a newbie only joining the market recently will make. High profile players also get carried away by their fame that they begin to think that they can control the market because of the high influence they have from many people following them on social media. It's because nobody can predict the market correctly always therefore it's not good to follow a prediction we see online even when it's from a trusted high profile trader because they can be wrong too.

This is fortunately true, sometimes you may feel down because you made a mistake and lost some money but then you remember that even the best traders in the world have down days and make a loss, this means that it's normal for us to have those type of days as well.

I understand that it may feel a little different in some cases but we should be considering the chances that we are having as something we can't avoid. Loss will happen no matter what and it doesn't matter if you are an expert on the field or not, eventually you are going to make a loss, and you just have to learn to live with it. There is no reason to expect them to be 100% correct at all times, they just need to be right most of the time and make a profit over long term.

[Ndabagi01]

I'll give you two examples: Garreth Soloway ( featured in Kitco a few times ) and Davinci ( early Bitcoin adopter )
They both shorted Bitcoin at 50K - 49K. And quite likely they're both getting liquidated soon.
To me it simply goes to show anyone can be wrong, and you shouldn't be certain of anything short term.

I'm not surprised, and this isn't something to dwell on because it's normal. Nobody can be completely perfect, and the cryptocurrency space is all about speculation. You either get it correct, wrong, or close to the prediction. You can't make ten calls and have them all be correct without missing one. It does happen on occasion, but only rarely. And it's not just about the short term; even in the long run, you can make mistakes. Just do your analysis and make sure you see a good sign that what you're predicting will work for you or get you somewhere close.

[Huppercase]

I'll give you two examples: Garreth Soloway ( featured in Kitco a few times ) and Davinci ( early Bitcoin adopter )
They both shorted Bitcoin at 50K - 49K. And quite likely they're both getting liquidated soon.
To me it simply goes to show anyone can be wrong, and you shouldn't be certain of anything short term.

Is there anything like too accurate in trading, no there is not. It's all about predictions, if you make it and it's correct, that means your analysis validated your call and if it does not, it doesn't mean you are wrong, it means something has gone wrong that you didn't see it coming. During the last Bitcoin bullrun, did anyone see that Bitcoin was going to crash to $15k at instant, none and if you tell people they will say it's impossible but it happens because no one knew FTX was having nothing on them.

You will noticed that some people can make call that Bitcoin will go to a particular price but later, it wouldn't happen, it's not like they are wrong, something can happen anytime like wallet hack of a big holder and that can result to a lot of sell pressure if traders get the news quick and if you predicted and open a position that Bitcoin will go up, you will get loss or even liquidated if you are margin and future trader.

[tvplus006]

...They both shorted Bitcoin at 50K - 49K. And quite likely they're both getting liquidated soon...

Obviously, when they opened a short position, they understood that there were prerequisites for this. Since this signal has not been worked out yet, perhaps the right decision would be to follow them and open a short position. In this case, you will have a better entry point than the one Gareth Soloway and Davinci have.

[GreatArkansas]

I'll give you two examples: Garreth Soloway ( featured in Kitco a few times ) and Davinci ( early Bitcoin adopter )
They both shorted Bitcoin at 50K - 49K. And quite likely they're both getting liquidated soon.
To me it simply goes to show anyone can be wrong, and you shouldn't be certain of anything short term.

It just means that trading is not 100% guaranteed. Even profitable or successful traders make mistakes sometimes.

That's why there is risk management, where it will help you to manage your risk explore and manage your losing trades.
Stop loss is a big help just in case our trade will go to opposite side.

[Barikui1]

I believe that in trading, no one has a crystal ball, anyone can be wrong and get liquidated if he or she makes the wrong calls, so for the few years I have been into trading I have come to understand that, no body in the trading industry get his or her decision 100%, their are good and bad days for every trader, wether a newbie or a veteran, what differentiates a skill traders from the rest is that they are profitable, they have more winning than losses, because at some point, everyone lose money while trading, but the ability to manage your risk properly to minimize loss, make the difference between a skill traders and a less skill traders, so when a high profile trader lose a trade I just feels that it's normal, that they will eventually recover their losses back.

[livingfree]

That's true that anyone can be wrong with their calls, analysis and predictions. No one's perfect on this market especially if we're all dealing with the most unpredictable asset in the world.

Take a look at those high profile people that owns institutions, they're just giving numbers that are too high that haven't been met yet. So, if it's not met and they start to sell then that only means that they're on it for the money as usual. And there's no need for them to justify their actions because it's normal for them to do such calls and trades.

But if the time comes with those high predictions of theirs and they're still holding, they're making themselves genius. 

[joeperry]

Personally I wouldn't be surprised. There's no man in the world can predict things 100% right but even if they make a wrong call that doesn't mean they are a failed trader, just like candlesticks, there's an ups and down and maybe that call is just a losing candle but if you are going to take a look in the bigger picture their profit is higher than their losses. That's why in technical trading you should do a back testing on how many wins and losses before you'll know if that strategy is profitable or not.

[Jatiluhung]

Personally I wouldn't be surprised. There's no man in the world can predict things 100% right but even if they make a wrong call that doesn't mean they are a failed trader, just like candlesticks, there's an ups and down and maybe that call is just a losing candle but if you are going to take a look in the bigger picture their profit is higher than their losses. That's why in technical trading you should do a back testing on how many wins and losses before you'll know if that strategy is profitable or not.

I agree that in this world there is no human who can make predictions with 100% accuracy. And yes, this is a fact that everyone knows. So seeing pro traders or famous traders experience defeat is also a normal thing. But as you said, those who are more experienced in trading usually have a higher profit ratio than the loss ratio they have. So even if they make mistakes, they can usually control themselves and not lose all their capital. In contrast to beginners, sometimes they can lose all their capital in trading.

[GeorgeJohn]

...They both shorted Bitcoin at 50K - 49K. And quite likely they're both getting liquidated soon.
To me it simply goes to show anyone can be wrong, and you shouldn't be certain of anything short term.

No matter how experienced a trader is, he will still make mistakes. But he will have much fewer such mistakes than a novice trader. But the main difference between an experienced trader is that they adhere to the risk management strategy, and even if his position is liquidated, he will lose only 2-3% of his deposit, unlike a beginner who will lose the entire deposit.

Nobody today who is a trader that have not experienced different kind of mistakes during the time of trading anyone who claims that it has not experiences losses or mistake in Trading that person is not a good Trader that is from my own perspective I know that there must be an error elsewhere in trading that will make someone.

I'll give you two examples: Garreth Soloway ( featured in Kitco a few times ) and Davinci ( early Bitcoin adopter )
They both shorted Bitcoin at 50K - 49K. And quite likely they're both getting liquidated soon.
To me it simply goes to show anyone can be wrong, and you shouldn't be certain of anything short term.

There are no perfect traders in the market even if we say there are those high-profile traders. They are still susceptible to losses because they also go for wrong decisions that made them commit mistakes and eventually lose their funds. However, losing is part of trading and you won’t get to maximize your profits without enduring some losing moments. But with the experience and skills you gained as a long time trader, you learn to manage and avoid some losses because you’re getting better in your craft through consistent trading.

I do make my emphasis very clear that no one is a perfect trader and before you become a perfect Trader you have undergo different kind of losses in Trading because without experience in loss in Trading I don't think that you'll be able to to understand the protocols of trading so I don't agree with anybody who says that they are perfect in Trading the most that goes obstacle during the process of learning that makes them to be more inquisitive and the more conscious of what they are doing in Trading so that is my theoretical explanation concerning trading and it's profit.