Lack of knowledge is a bitch

[Barikui1]

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.

Buying when the market is green is pure herd behaviors, not even a strategy, when people see candles flying, FOMO kicks in and they rush to buy at or near the top. Then the moment the market retraces, which it always does, panic sets in and they sell at a loss. That cycle alone wipes out most spot traders. The funny problem most of them have is that they dont want to buy when it feels uncomfortable. Red candles look scary , green candles feel "safe", even though its the opposite. Spot trading requires patience and timing, not excitement (it will do you no good at all).

As a spot trader, until you understand that every phase has its purpose, (accumulation, expansion and distribution), you will keep donating money to the market. Buying and selling both have their time and missing that reality is why losses repeat

All you said here are true, and they all boils down to ignorance and lack of patience, I added lack of patience because I know of some spot traders that are scared of buying when the market is down because in their statements, they don't know when the market may start appreciating, so they don't have that luxury of time to wait till it starts appreciating, that is why they only start buying when they feels like they market has started rising, so I believes that it's not just lack of knowledge that makes spot traders buys at the top, but impatient is also one of the cause.
But one thing I know that is common among such traders is that they tend to panic and sell easily once the market drop drastically from the point they bought from, and that is why most of them always sell at a loss in the end, because they easily panic and they are not used to waiting for the asset they bought to appreciate back.

[Olatundespo]

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 aim of spot traders is to make a profit in a short period of time, no matter how small. It is very similar to day trading. I have seen many experienced traders trading this method and getting profit. Traders who apply this strategy may not be able to make high profits but they are happy to sell if they get any profit. Many experienced traders do not buy when the market is in the red because it becomes difficult to predict at what level the actual dip will end.

I have bought at the dip price several times for short-term trading but each time it has gone lower. So I buy regardless of the price and build a holding and withdraw when I get a green signal. This is the strategy for applying the funds allocated for my short term trading.

[Uhwuchukwu53]

This is common even a primary or newbie must have gathered this level of knowledge before venturing into investment or trading on anything Bitcoin or crypto related, you must know what characterizes lost and profit, though human with different attitude what may leads some investor into quick sell, when there is already a lost after buying, when the market is green could be emergency beyond their control which most time emergency fund can't cover mostly those with full knowledged but but buying when green and sell at red when there is lost already a lost is ignorant. While crypto or Bitcoin need Long time holding smartness must be a tool to succeed.

[Fiasem20]

Na who don acquire knowledge dey apply am,most newbies dey neglect the aspect to learn about the basic knowledge of bitcoin before them even buy am.We know say bitcoin price movement no dey stable on a normal day ,so e go wise make person buy am during the dip so that when the price increase you go sell in profit.As a spot trader you gats acquire knowledge about the price movement because you need to know the time when best to buy and to sell in order to avoid potential losses unlike long term investors wey no dey track price movements because their target of selling in profit na for the long term.So in essence,knowledge dey crucial so that we go dey make informed decisions.

[Makus]

Na who don acquire knowledge dey apply am,most newbies dey neglect the aspect to learn about the basic knowledge of bitcoin before them even buy am.We know say bitcoin price movement no dey stable on a normal day ,so e go wise make person buy am during the dip so that when the price increase you go sell in profit.As a spot trader you gats acquire knowledge about the price movement because you need to know the time when best to buy and to sell in order to avoid potential losses unlike long term investors wey no dey track price movements because their target of selling in profit na for the long term.So in essence,knowledge dey crucial so that we go dey make informed decisions.

The reason why a lot of beginners dive into buying Bitcoin without acquiring much knowledge ok it is because they think that it is something they can do without learning but at the end of the day they make mistakes that affects them, some end up getting scammed. crypto is wide and investing in bitcoin is just a part of it and not everything there is to know. asides from bitcoin investment some beginners don't take out their time to make research about how to use wallets and exchanges and these things are very crucial to bitcoin investment but it is really disappointing that they neglect it

[Sobz]

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.

That is one thing with most people, they are always scared of going into the market when the price is down but when the price of the market starts increasing they find it very interesting to buy at that point and it is not suppose to be that way.  As a trader, it important to know when to enter the market when the price is red, ad buying should not be done always when the market is increasing. Buying is mostly done when the market goes down and sell when their is an increase in price.

[gracreavix]

This is common even a primary or newbie must have gathered this level of knowledge before venturing into investment or trading on anything Bitcoin or crypto related, you must know what characterizes lost and profit, though human with different attitude what may leads some investor into quick sell, when there is already a lost after buying, when the market is green could be emergency beyond their control which most time emergency fund can't cover mostly those with full knowledged but but buying when green and sell at red when there is lost already a lost is ignorant. While crypto or Bitcoin need Long time holding smartness must be a tool to succeed.

Na who dey ignorant to not chase knowledge, na em do him self. Knowledge na one of the most important thing where everybody need before him or her enter or invest for Bitcoin, and this is not even solely connected to just Bitcoin alone, you are expected to try as much as possible to get as much knowledge you can, before venturing in any field or investing.

And now talk more of Bitcoin investment, where without proper knowledge you will just be left in the shadows of things, and could make several mistakes that could make you regret in a long run.

[Silikiem]

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.

That is one thing with most people, they are always scared of going into the market when the price is down but when the price of the market starts increasing they find it very interesting to buy at that point and it is not suppose to be that way.  As a trader, it important to know when to enter the market when the price is red, ad buying should not be done always when the market is increasing. Buying is mostly done when the market goes down and sell when their is an increase in price.

That’s the dumbest thing to do, I mean buying on a high and selling on a low. Personally I’ve always encouraged long term bitcoin investment because that’s the only way out of this whole mess and you don’t feel the pressure of buying at any market price when you’re focused on the long term goal of consistently or perhaps persistent accumulation of bitcoin and holding for longer term purposes using the DCA method of investment . But as a trader, you should be well informed that the dip is an opportunity to accumulate even more bitcoin stash at such a reduced rate instead of panicking to sell because one thing is for sure, the price of bitcoin will continue to rise even though it goes down at a particular point in time.

[Mayor of ogba]

Most spot traders that are buying bitcoin or other cryptocurrencies when the market is green are mostly newbies because they lack the knowledge and experience of how the market works, and they believe if they don't buy at that time, they will never see the opportunity to buy, and for them not to miss out, they will rush to buy the top with the hope that they will soon be in profit, but they will lose their money if there is a retracement in the market. This is one of the reasons why newbies shouldn't get involved with spot trading because the pros will use them as exit liquidity.

[Hustle2025]

Knowledge is a vital tool which every trader or investor that wants to be successful in the crypto industry needs to survive the risk and uncertainties associated with cryptocurrency investment. An investor or a trader ought to have a better knowledge of when to buy or sell their asset. The knowledge a trader have acquired before going into cryptocurrency investment acts as a guide to his activities in crypto space.  Having the necessary and required knowledge and information about cryptocurrency investment helps a trader or investor with emotion to maximise profits and minimise lost.

[Hoximen7]

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.

Many people are wallowing into ignorance because of little or no knowledge of a thing, in short life is totally a function of adequate information and knowledge. Until now I don't approach any how on market because I don't actually have the full confidence of what I want to do. Sometimes many losses comes as a result of ignored knowledge and well informed ignorance to learn because one's feels to have known it all.

Usually, some people who are new to the world of trading expect instant results without wanting to go through a long learning process and feel they already know enough or are lazy to understand the basic mechanisms of the market.

[Plutomanian]

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.

Panic attacks sets in when you're a newbie in the market. You don't know your left and right in the market. If a trader is not ready to lose, I would advise him to stay clear off trading because it's never an easy routes to follow especially when you're having doubts about your trading strategies. Knowledge is power in trading and we can not go far if we don't stop complaining about strategies and start learning the new basis of the market. Learning new prospects about trading never ends, the newbies and professional traders are all involved in learning the basis because the market changes as time goes on.

Spot trader should be focusing on scalping? Well there are different categories of traders and we have those that can be patient enough, it can even take up to a month before they're eligible to open  trade because they're very sure about the market and their own entry.

[MisFoxie]

One of my guys did the same thing and ended up with big loss. Tbh it still dey funny me say for this time many spot traders dey buy only when market don green. they buy at the top then panic sell once price retrace. In spot trading, profit dey mainly when you buy low and you sell at a high price. if you buy when price don fall you get better chance to sell when market turn green. but buying at the top especially no be bitcoin fit hold you long or make you sell at loss. timing na everything.

[Big Dirams]

One of my guys did the same thing and ended up with big loss. Tbh it still dey funny me say for this time many spot traders dey buy only when market don green. they buy at the top then panic sell once price retrace. In spot trading, profit dey mainly when you buy low and you sell at a high price. if you buy when price don fall you get better chance to sell when market turn green. but buying at the top especially no be bitcoin fit hold you long or make you sell at loss. timing na everything.

Some users just lacks knowledge and understanding of the market whereas why would some one see the market on green and uptrends and try to buy there that just bullshit. As a trader one is supposed to buy low and sell high that just the way to make profits, when we witness a downtrend then we can place a sell entry and make good profits if the market keeps going for downtrends or chasing after the support level we can make profits by placing a sell and if the market is on lows and we except uptrends then we can simply place a buy order to make profit also.
 When a trader is knowledgeable then such trader will understand all this basic information but it just lack of knowledge and understanding that causes some issues like this in my own opinion.

[Byebyebtc]

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.

I keep on saying that knowledge is very important. knowledge comes before money and it is very important to understand what you are investing in, or understand the business you are working in.

Nevertheless real traders with good knowledge will understand that you have to wait for a retracment before you take a buy and the market will have to show signs of going down before you take a sale. This form can as well be a good source of these types of knowledge.

Knowledge is priority, and success can only be guaranteed depending on the amount of knowledge you have. Even the risk people talk about, without knowledge your risk is totally worthless.
Most people are too hyped to do one thing or the other involving money as a result they forget to get good knowledge about that field, then when the are not successful in it, the go and start saying bad things about it. If it doesn't work for you it will work for other so it is better to just stay quiet.

[Yorubek]

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.

I keep on saying that knowledge is very important. knowledge comes before money and it is very important to understand what you are investing in, or understand the business you are working in.

Nevertheless real traders with good knowledge will understand that you have to wait for a retracment before you take a buy and the market will have to show signs of going down before you take a sale. This form can as well be a good source of these types of knowledge.

Knowledge is priority, and success can only be guaranteed depending on the amount of knowledge you have. Even the risk people talk about, without knowledge your risk is totally worthless.
Most people are too hyped to do one thing or the other involving money as a result they forget to get good knowledge about that field, then when the are not successful in it, the go and start saying bad things about it. If it doesn't work for you it will work for other so it is better to just stay quiet.

It is true that knowledge is very important for taking risks. It is not possible to achieve success by taking risks without proper knowledge. Taking risks does not mean getting success. If we can take risks correctly along with acquiring the right knowledge, then success can be expected. It is very important to acquire the right knowledge about Bitcoin before starting investment. Without proper knowledge, it is not possible to manage investments consistently, so we have to acquire knowledge first and manage investments accordingly and by waiting for the right time, success can be expected. Proper knowledge and continuity are very important to achieve success by investing.

[Finebone]

It is true that knowledge is very important for taking risks. It is not possible to achieve success by taking risks without proper knowledge.

Yes of course, taking risk without proper knowledge wouldn't yield any tangible results because you are doing it ignorantly.
Furthermore, taking risk blindly without knowing your left or right is no longer an investment or trading the crypto market, at that point it is more of gambling than investment or trading.

It is very important to acquire the right knowledge about Bitcoin before starting investment. Without proper knowledge, it is not possible to manage investments consistently,

Another thing you spoke of that caught my attention is this. It's what most people don't know, that having the right knowledge is a total different thing to have an idea about something, because it's only when you have the right knowledge about something that you will easily navigate your way around it, unlike someone that has the knowledge, but not the right knowledge.

[Uhwuchukwu53]

Knowledge is power and it's the root of success, it speed up and make an ease for one who have it in any direction of usage. Many cried of losses in market or engaged wrongly as a result of lack of knowledge, no investor full of knowledge in Bitcoin will prefer to buy or invest when the market is green because they know at that stage the market is rising and will not give them much return or benefits because if they buy at green the expectations will be very high and it must surpassed what they entered the market with before getting any profit. This knowledge help many who understands the market to buy when the market is red because with change of green market can raise hope because they entered when the market is red. Knowledge is very important.

[Judith87403]

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.

[Dulen007]

From the little I know, trading really comes down to patience and timing. Many people make the mistake of buying when prices are already high because they don’t want to miss out, and this often leads to losses. But if you are patient and wait for the right moment to buy at a lower price, you increase your chances of making a profit when the market goes up. At the same time, knowing the right time to sell is just as important. Patience helps you avoid rushing into trades, and good timing helps you make the most out of every opportunity.