Lack of knowledge is a bitch

[Dechris_08]

Most people who are trading don’t really know what they’re doing; they’re just herding and following the crowd.

When they see people buying a particular coin, boom they also want to buy.

They don’t really know why they’re buying it, or even what they’re buying.

As a trader, you need to be fully equipped if you want to play the game long term.
Learning macro, sentiment, and technical analysis is a must not optional.

[JimaGod]

It's not unpleasant ,it's emotional trading. Alot of spot traders reacts to price instead of making plans around it. Green candles creat FOMO, while red candles create fear, so they end up buying high and selling low. In spot trading,patience is at the edge. Buying with fear,consolidation, or clear discounts enables you to breathe and wait for recovery. Going after tops removes that safety and changes normal pullbacks into panic exist. Timing is very important as much as direction. Not being excited, their outcome gets better quicker usually.

We have the spot and future trading in crypto. Lack of knowledge indeed will make one not know what to do and become ignorant when it comes to vital opportunities in the market. One wouldn't be able to grab these opportunities and we know how sad and challenging if we're not hitting top targets in the market.

Spot traders make quite a gain in crypto and in every instances, they can't be compare to those traders trading futures. Because it's the main crude oil in trading. Futures traders are always smiling when they hit the top targets but when they lose, they keep frowning faces.

[Halifat]

Most people who are trading don’t really know what they’re doing; they’re just herding and following the crowd.

When they see people buying a particular coin, boom they also want to buy.

They don’t really know why they’re buying it, or even what they’re buying.

As a trader, you need to be fully equipped if you want to play the game long term.
Learning macro, sentiment, and technical analysis is a must not optional.

You have just bring out a very important point here, honestly i hate to see those kind of people because they are the one who make the public view cryptocurrency as a scam, their aims is different, they don't want to learn and they are just after quick money that's the reason why they do things that way. I think money is always the problem but now that there is money I think learning what you want to do with the money will be so easy for you, unlike others that are learning for future use because they don't have money to practise it, which I see as a very good idea.

[Gost ms]

Most people who are trading don’t really know what they’re doing; they’re just herding and following the crowd.

When they see people buying a particular coin, boom they also want to buy.

They don’t really know why they’re buying it, or even what they’re buying.

As a trader, you need to be fully equipped if you want to play the game long term.
Learning macro, sentiment, and technical analysis is a must not optional.

When a person wants to trade or is drawn towards trading, they may not be aware of the risks of trading or have been influenced by someone else's story. I have seen many people who have been drawn towards trading just by watching videos on social media and when they start trading and face losses, they understand what trading is and get out of trading.

If a person does not research all these things before starting trading, such as the risks of trading and how long it takes to learn trading, then he may never express his desire to trade. Therefore, it is necessary to do research before taking every step.

[Obulis]

Why the unquenchable panic? The inability to wait for the green when ordinarily it's supposed to be the target. Could it be due to not believing in Bitcoin or overly dealing with shitcoins? For me trading if at all engaged in should be calculative trading, trading where a certain minimum of someone's discretionary funds is used. If not going on a long-term to avoid any form of panic about the market remains the top thing to do with discretionary funds as much as Bitcoin is concerned.

[Cityhunter34]

I find it very awkward that even in this day and time, most spot traders are still buying only when the market is green, they buys at the top and when the market starts retrace they sell at a loss in panic, without knowing that when trading  the spot market, where the profit is, is where you buy, if you buy when the price is down, their is a higher probability that you will win that trade by selling when the market is green, but if you are buying at the top when it's not Bitcoin, their is a higher probability that you may sell in a loss if the asset you bought fails to recover in an extended period of time, so the earlier most spots trader understand that buying and selling has their own time the better.

You made a good point here and that is absolutely the best way to make it through in everything we are doing but I don't know why most of us normally find it difficult to follow this step knowing fully well that investment requires knowledge and understand before you would be able to get a good profits. Honestly, there's nothing good than having a proper knowledge of anything you are doing because it would definitely help you to make informed decision, more especially in this Bitcoin investment till now many people are still in losing streak due to not having a proper plans for future immediately they see the dip they would be shaking and before you know it they would still looking for a way to sell which is not close to the amount they buy.

[casey15]

Lack of knowledge cost you a lot including time and money...
Most trading ads you see on the internet shows that you buy when the market is green and sell when the market is red. These ads are very misleading and truth be told, people who trades like that without looking at structure are not traders.. they are just amateur looking to make quick cash. Having the right knowledge is essential for everything not just trading alone. Most people don't take  time to really know what they are about to engage in.. so when they lose money or when they dint make as much money as they though they would and things did not work out for them, they come around the internet saying trading is a scam... So much for people claiming to be trader

[Yorubek]

Lack of knowledge cost you a lot including time and money...
Most trading ads you see on the internet shows that you buy when the market is green and sell when the market is red. These ads are very misleading and truth be told, people who trades like that without looking at structure are not traders.. they are just amateur looking to make quick cash. Having the right knowledge is essential for everything not just trading alone. Most people don't take  time to really know what they are about to engage in.. so when they lose money or when they dint make as much money as they though they would and things did not work out for them, they come around the internet saying trading is a scam... So much for people claiming to be trader

Right, many people start investing money without thinking about anything after watching various videos of making money by trading on YouTube or various social media. They start trading with the hope that they will be able to make money very easily and very quickly like YouTube videos, but instead of making money, they face loss of all their money. The main reason for this is that they did not have complete knowledge about trading, they only think of making money quickly and start investing without see or understanding anything, which is not the right rule or strategy for trading at all. Trading is not an easy way to earn money quickly in the real sense, in order to achieve success in trading, it is very important to have the right knowledge as well as the ability to analyze the market. Those who lose money trading in the hope of making money quickly without actually understanding anything are the ones who spread various kinds of rumors about trading.

[Mehmet69]

When a person wants to trade or is drawn towards trading, they may not be aware of the risks of trading or have been influenced by someone else's story. I have seen many people who have been drawn towards trading just by watching videos on social media and when they start trading and face losses, they understand what trading is and get out of trading.

If a person does not research all these things before starting trading, such as the risks of trading and how long it takes to learn trading, then he may never express his desire to trade. Therefore, it is necessary to do research before taking every step.

You are right, we need to do research before taking every step. But due to the current era of social media, there are many such misleading campaigns that new traders are very confused. Due to those campaigns, new traders do not believe that trading is an educational subject. They never think about the risks of trading. Because new traders join trainings after being lured by social media. And there is no information about the risks there.

New traders start trading without knowing anything and when they face losses, they start learning about trading. But by that time they have faced a lot of losses. To recover those losses, they are lured again and face losses again. At one stage, they start claiming that trading is gaming and start moving away from trading.

[Yeesha]

When a person wants to trade or is drawn towards trading, they may not be aware of the risks of trading or have been influenced by someone else's story. I have seen many people who have been drawn towards trading just by watching videos on social media and when they start trading and face losses, they understand what trading is and get out of trading.

If a person does not research all these things before starting trading, such as the risks of trading and how long it takes to learn trading, then he may never express his desire to trade. Therefore, it is necessary to do research before taking every step.

You are right, we need to do research before taking every step. But due to the current era of social media, there are many such misleading campaigns that new traders are very confused. Due to those campaigns, new traders do not believe that trading is an educational subject. They never think about the risks of trading. Because new traders join trainings after being lured by social media. And there is no information about the risks there.

New traders start trading without knowing anything and when they face losses, they start learning about trading. But by that time they have faced a lot of losses. To recover those losses, they are lured again and face losses again. At one stage, they start claiming that trading is gaming and start moving away from trading.

That is why it is very careful about the news we see on social media, because many of the things we come across are too good to be true. And we must be extremely cautious about  misinformation, especially when it comes to trading and Investments. Social media is full of fake success stories, exaggerated promises, and misleading advertisements that can easily deceive people who are not well informed or aware. Trading is actually good. in fact, it can be a good and legitimate way to grow wealth, in order to be successful in life. but when it is done with proper knowledge, discipline, and risks management. some people missed it by promoting unrealistic profits, or hiding the risks involved, or they use trading to scam others. These are parts of the major things that paints trading in a negative light in the eyes of many people. Instead of believing everything we see on social media, we should always verify the information in order to know if it's from a reliable sources and also learn the basics of trading, and understand that losses are also part of the process.

[Jubilee58]

I find it very awkward that even in this day and time, most spot traders are still buying only when the market is green, they buys at the top and when the market starts retrace they sell at a loss in panic, without knowing that when trading  the spot market, where the profit is, is where you buy, if you buy when the price is down, their is a higher probability that you will win that trade by selling when the market is green, but if you are buying at the top when it's not Bitcoin, their is a higher probability that you may sell in a loss if the asset you bought fails to recover in an extended period of time, so the earlier most spots trader understand that buying and selling has their own time the better.

The right thing to do is always buying the dip, when you buy cryptocurrency when the price is already bullish, your chances of making profit is very slim and this system of cryptocurrency purchase signifies lack of knowledge in the cryptocurrency market. Initially when I started cryptocurrency investing, I made such mistake and it wasn't favourable to me at all and then, I was really a Novis in the system. We should learn how to use favourable strategy that will suit our investment goal.

In the case of investing in bitcoin, I think there is no wrong time to do that depending on your investment strategy, if you are the type of investor with long term investment strategy, there is the opportunity of making profit in the next bull season.