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

[Hyphen(-)]

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.

Of course anyone can be wrong because market movements are predictable at times and not predictable sometimes. If they always get it right it means they are manipulating the market, but sometimes they will get it wrong which shows that no one will perfectly predict market.
Depending on calls and signals from influencers or trading experts is not reliable, they can make wrong calls sometimes that’s why we always advise people to use the amount they can afford to lose and to also make their own research before starting.

Learn to be an expert so that you can depend on yourself.

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[Mpamaegbu]

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.

Bitcoin, the Pathfinder and crypto grandfather, zoomed passed $53k today. Those who took a short on it at $50k are in severe pain now, no doubt.

Anyway, concerning following anyone's calld blindly; the first thing anyone should realize is that those making the calls aren't supernatural beings. They're humans like us and are prone to mistakes and errors. At best, we all are speculators in this industry. There's no holy grail. No one knows it all. I don't like following anyone's calls but I can use their calls as a gauge for my trade by confirming if their calls align with what I see on my charts. If they say to short it but my charts say long it, I may not take the trade at all or take it based on my chart but with minimal risk. If they say short it and my chart says short it too, I will take the trade with ease and a slightly increased risk.

[kojektea]

It is normal that no one can predict the market 100% correctly, even seniors from the conclusion still do their own research and don't rely on big profiles or signal givers, if you do your own research you will feel more satisfied with the results. you get, besides that you will understand the market better, instead of depending on the signals people give, you only expect profits from other people, and you don't get your true self.

[the rise]

This shows that the market is fluctuating and cannot be predicted by anyone, even very well-known figures. From this, it is recommended that we carry out our own research on the market. With the abilities we have, we can analyze it personally without having to rely on other people, even someone who It is very well known to be wrong in predicting prices, so just be confident when you trade

[tvplus006]

I'll give you two examples: Garreth Soloway ( featured in Kitco a few times ) and Davinci ( early Bitcoin adopter )

Does anyone know if Garreth Soloway is still holding and Davinci have their short positions on Bitcoin or they have already been liquidated after the price reached the level of 57,600 dollars? It is very interesting how such a drama ended.

[coolcoinz]

I don't care because I don't follow known traders. There's maybe one or two guys that I watch from time to time, one of them being Camel Finance on youtube and it feels like this guy is on the market with all of us, trying to make money and sharing his trades.

Also, I like bulls and people who don't shill shitcoins, just tell us how they see the market and don't make big mistakes. If you make a huge mistake, the way this Soloway did last year, or Tom Lee in 2017, or Tone Vays in 2020, you're dead to me. I'm not going to follow you.

[Altcoiner007]

Hmm, OP firstly make sure to choose the relevant section while posting any query in the form of a thread, this topic belongs to the trading section. At the same time, I don't follow the trading signals so it really doesn't matter what I think about their calls and I strongly oppose those who follow copy trading and other trading signal sources because such traders don't have a longer lifeline in the market.

Yeah anyone can be wrong but with a strategy where you've made an analysis and you were wrong there on that failure you experienced your strategy flaws and you can make it better for the next time and this option is not for those who are losing in the signals. Becasue the've not gained anything from there except losing their funds.

Hamza, rightly said, here. Knowledge is progressive and that applies to trading as well. For a trader to loss one or two trades is normal but when it's a consistent loss especially on a straight roll, it shows big and obvious flaws.

[freedomgo]

This shows that the market is fluctuating and cannot be predicted by anyone, even very well-known figures. From this, it is recommended that we carry out our own research on the market. With the abilities we have, we can analyze it personally without having to rely on other people, even someone who It is very well known to be wrong in predicting prices, so just be confident when you trade

Traders are still inevitable to losses regardless of higher positions or high-profile traders. So we don’t have to rely our success to them since no one gets perfect in trading. Everyone loses with such an unpredictable market. If you want to maximize winning in your trades, navigate your own potentials and develop your own skill and reliable strategies that will certainly work based on your trading style. There’s always a time for us to lose in trading, but we can always lessen them and use them for our own motivation to be more successful and profitable in trading.

[Len Saldua]

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.

LIQUIDATED !! Wow.

May I just add Davinci is a known whale and quite likely holds thousands of Bitcoins. Many people in the space consider him a legend.
Garreth Soloway is probably not a Bitcoin whale, but certainly a very rich trader featured in Kitco quite a few times.
Thomas Kralow ( another rich crypto trader running multiple companies and living in Dubai ) also shorted Bitcoin a few weeks ago, but I don't know how bad his losses are.

[Len Saldua]

I think it's good to look at what "the smart money" is doing sometimes, and realize that they may not be as smart as we think they are.

[South Park]

I think it's good to look at what "the smart money" is doing sometimes, and realize that they may not be as smart as we think they are.

There is a reason we call them smart money and not infallible money, more often than not they will take the right decision as they have a long history at looking at the markets, and that alone gives them a huge advantage over an investor that is just doing this for the first time, however the markets are unpredictable and they can take smart money by surprise as well, and what better example than what we are seeing with bitcoin right now, in which we are already above the 60k level, a level many thought we may not reach until 2025.

[Rengga Jati]

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.

When someone, whether a professional trader, popular person, influencer, and other parties make some predictions, it doesn't mean that the prediction must always be 100% accurate. In trading predictions, this does not seem to mean whether the prediction is right or wrong, but rather whether it is close or still far away. Because that's what predictions are, whether they are made from methods and research that are quite in line with the analysis or just because of hope.

But what is certain is how we interpret the various predictions made by these people. If they are not correct in their predictions, don't blame their predictions. Because after all, the final decision for us to do something remains with us. They are only a matter of consideration, not to always be followed 100%.

[Fatunad]

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.

When someone, whether a professional trader, popular person, influencer, and other parties make some predictions, it doesn't mean that the prediction must always be 100% accurate. In trading predictions, this does not seem to mean whether the prediction is right or wrong, but rather whether it is close or still far away. Because that's what predictions are, whether they are made from methods and research that are quite in line with the analysis or just because of hope.

But what is certain is how we interpret the various predictions made by these people. If they are not correct in their predictions, don't blame their predictions. Because after all, the final decision for us to do something remains with us. They are only a matter of consideration, not to always be followed 100%.

You should always put it up into your mind that there's no such thing about 100% precise prediction no matter how known or popular those personalities are. This is why im not really that a fan on following those
people no matter how good they are or whatever reputation and popularity they do have. I would rather be trusting up my own analysis rather than on following their but somehow there might be some consdierations
in speaking about snipping some trading ideas with those so called known professionals or veterans of this market, on which you could really be able to snip out some ideas which it could be applied into yours.
The must thing to have as a trader is that you should really know on how to make use both TA and FA on which we know that it is really that relevant here on this space.

It might not really be giving out assurance but you are really that doing  your very best on making the possible best approach towards on dealing with this unpredictable or random market.
There's no way that we can be able to make those precise predictions but at least we have done on what should be done rather than on having those random
and pure guess approach.

[Yamifoud]

I think it's good to look at what "the smart money" is doing sometimes, and realize that they may not be as smart as we think they are.

Probably yes. Besides, we can't call them an expert or good trader if they don't experience losses in their trading career. Maybe I was wrong but this really happened because in the other way, losing would help us learn more and be an indication that we need to improve. If we are afraid to lose, well, I don't think we choose trading but rather be a silent rich investor who has no name and reputation so people don't care who we are.

Being smart about money is also to carefully choose where to use it. Trading is not a bad choice but the question is if we really have the capabilities to perform such high-risk.

[LogitechMouse]

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.

Well, that just shows that even the most expert ones can be wrong in their prediction.

I've heard the name "Garreth Soloway" already because he got interviewed by a YouTuber that I used to watch whenever he was making Technical Analysis on any markets. He also said in that interview that he predicts that Bitcoin will go as low as $10,000 again. BTW that interview was in 2022, and even though we're close to it ($17,000), we didn't reach that $10,000 price.

Anyway, why follow their calls? Can't make your call so you will just follow what experts are saying and come what may? What happens, happens. Is that how you treat investing? If that's the case then just stop investing. If you can't make your own decision when it comes to investing, just stop or you might lose even more money.

[Strongkored]

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.

That's why in trading we can't just rely on signals or what experts say because they can be wrong, including us too.
Traders who like signals or are very dependent on signals should start learning to analyze and use signals as additional references, but decisions should be taken based on their own analysis, even if the results are wrong, it is much better because there is increased skill in our trading knowledge.

High profile or experts are actually not people who are free from mistakes and in the end they can become experts because they learn from mistakes and evaluations, but even that is not a guarantee that they will no longer make mistakes, so mistakes in trading are normal and not just for newbies but for all traders have made or will still make mistakes but as long as the end result is profit then you are still on the right path.