If You Can’t Explain the Trade, You Shouldn’t Be in It

[Hannah$]

People who copy signals from groups on social media are not traders, you might as well call them gamblers because that's what they are...first of all, copying trading signals from traders isn't really a bad idea but the problem with this is that the more you do it you would not understand anything about the market and how can you be Called a trader when you don't even know how the market works...learn how to analyze and trade by yourself, you'd get better overtime

Yes, you are right — blindly copying signals and trading reduces the opportunity to learn a lot. But whether it is trading or gambling depends on the person's intentions and interests. If someone uses signals as a learning tool and also learns analysis on their own, then we can consider it as part of the business. The main thing is to understand the market, trade with risk management — not just copy signals, and try to understand the reason behind it. Slowly, if you learn with understanding, you will build your own base.

[Pandorak]

Basically you can't just enter the market without any preparation, because that would be like gambling, purely hoping for luck. The first thing you must understand and realize is that trading has a huge risk compared to investing, it allows you to lose all your money in a short time, so it is important to have a strong reason, at least you must understand the basics of why you decide to enter an asset, the point is to learn first before starting to enter the market, better late than losing your money.

Some things you should learn:
- Trading strategy
- Money management
- Trading psychology
- Risk management
- Trading plan

[Mahanton]

Basically you can't just enter the market without any preparation, because that would be like gambling, purely hoping for luck. The first thing you must understand and realize is that trading has a huge risk compared to investing, it allows you to lose all your money in a short time, so it is important to have a strong reason, at least you must understand the basics of why you decide to enter an asset, the point is to learn first before starting to enter the market, better late than losing your money.

Some things you should learn:
- Trading strategy
- Money management
- Trading psychology
- Risk management
- Trading plan

You should add this up

-Emotion Control
-TA + FA analysis
-Immediate decision making on various situations or conditions

All of these things are that much needed when you are that dealing up with trading on which you would be needing up to consider on how you would be that trying out to deal up with things accordingly.
It would be just that impossible that you cant make out some realization or learnings out of those experiences that you are currently that been dealing on with. Its true that if you cant be able to read up the charts
then its better to go back into drawing board and trying out to know things first before you would be hovering yourself towards this unpredictable space. You wont be able to survive nor sustain yourself too long
if you dont have these kind of preparations and capabilities on dealing up this volatile space. This isnt some game that you can just simply put yourself in and doing not that much.

When you are that dealing up with trading then always make it sure that you would be able to learn all of those things that came from mistakes because on the time or moment that you do become that too naive or just that contented on what you are currently been that doing then you would definitely be having some issues when it comes to your trading journey. The best approach would be is that you should be that learning in all of your trades as much as possible and dont make yourself that being that too confident that you can actually do it with ease. Dealing up with a market is never been that easy and never been that someone could be able to handle in a short period of time.

[Natalim]

People who copy signals from groups on social media are not traders, you might as well call them gamblers because that's what they are...first of all, copying trading signals from traders isn't really a bad idea but the problem with this is that the more you do it you would not understand anything about the market and how can you be Called a trader when you don't even know how the market works...learn how to analyze and trade by yourself, you'd get better overtime

Yes, you are right — blindly copying signals and trading reduces the opportunity to learn a lot. But whether it is trading or gambling depends on the person's intentions and interests. If someone uses signals as a learning tool and also learns analysis on their own, then we can consider it as part of the business. The main thing is to understand the market, trade with risk management — not just copy signals, and try to understand the reason behind it. Slowly, if you learn with understanding, you will build your own base.

Copying signals may only be beneficial for beginner traders, as it can guide them on how create a reliable trade in the market. But overtime, if they rely on it, it won’t be good for them as an individual learner as they also need to learn and analyze the market well on their own so that they can be good and profitable traders in the long run.

However, if a beginner trader does not practice copying trading signals right from the start, much better. He will learn early in the market despite of the market losses that will continue to challenge him to improve his trading performance.

[AmoreJaz]

People who copy signals from groups on social media are not traders, you might as well call them gamblers because that's what they are...first of all, copying trading signals from traders isn't really a bad idea but the problem with this is that the more you do it you would not understand anything about the market and how can you be Called a trader when you don't even know how the market works...learn how to analyze and trade by yourself, you'd get better overtime

Yes, you are right — blindly copying signals and trading reduces the opportunity to learn a lot. But whether it is trading or gambling depends on the person's intentions and interests. If someone uses signals as a learning tool and also learns analysis on their own, then we can consider it as part of the business. The main thing is to understand the market, trade with risk management — not just copy signals, and try to understand the reason behind it. Slowly, if you learn with understanding, you will build your own base.

As long as he won't rely on his succeeding trades from the signals. Because most of those signals are actually a deception as they are only given by some people who mostly have ulterior motives. If it is free, you can see how it works for you. Because most of them will give too late that their signal is already over and when you actually execute your trade, is already too late for that particular tip.
Signals for me is not a reliable source to know if you will execute your trade or not. It is still best to rely on your skills, instincts and knowledge of the trading market you are into.

Just try to join one of these free trading signal group, and see how they provide some tips. And execute it, but use only small amount of money. You will understand how they work and if it is really good for your funds or not.

[JeffBrad12]

My final words: Being a trader simply means "being a student of the market."  You must learn to research, analyze, and then to build your own strategies and adjust them when necessary. This doesn’t mean you can’t learn from others, or that one shouldn't make use of signal. Rather the newbies should note this - signals should only be used as a tool to complement your thinking, not replace it. 
Meaning that before hopping onto a particular signal/ signals, you should already have a personal strategy or signal on ground which will then be used to compare with the signal you got to know if you are right on track.

These words are right on the spot, signal should be just a little heads up for us and then we proceed to analyze the market by our own.
This helps filtering the bad signal as well as the manipulative signal.

Those signal providers always have ulterior motive, maybe they make an entry earlier than anyone else so they can get better odd of winning.
There's no free lunch.

[jaberwock]

That is a reasonable basis for knowing how and what to trade. I do this in my work, where if I cannot explain it to a 5-year-old, I need to study more and have more references.

5 year old really? Or maybe you are just referring to a normal individual? But each has their own understanding and we can't always please everybody. We trade for the purpose of profits but it is not enough to not regret sometimes. A better advice would be is to also choose a risk that is acceptable for us once thing go south.

there's always room for error

Yes and then there is also a room for improvement. So we must not be afraid to fail, unless if we are lazy to improve our selves.

When we trade, there are times that we just don't know what happened but if we take time to analyse, then we might still see the reason for it. To analyse must be part of self improvement.

[Ndabagi01]

My final words: Being a trader simply means "being a student of the market."  You must learn to research, analyze, and then to build your own strategies and adjust them when necessary. This doesn’t mean you can’t learn from others, or that one shouldn't make use of signal. Rather the newbies should note this - signals should only be used as a tool to complement your thinking, not replace it.  
Meaning that before hopping onto a particular signal/ signals, you should already have a personal strategy or signal on ground which will then be used to compare with the signal you got to know if you are right on track.

If you ever want to be independent in trading and become the best of trader to yourself, then you should not even think of subscribing to a signal class. This will limit your thinking faculty and always depend on those signals more than you do to your own trades. As a trader, you should kill all the urge of using another person’s signal to judge your mistakes in trading. Signals are a sign of you having trust in another person’s analysis and will go all in for them to place trades even without doubting them. As a trader, signals should be used to compare not to disregard your own analysis and strategies you’ve worked hard to learn and you’re improving on.

[bitgolden]

If You Can’t Explain the Trade, You Shouldn’t Be in It

Remember crypto trade is not the same as you do stock trading in the index, you cannot learn yourself about analysis, strategy, market and so on, you need a mentor to guide you, Trading in the crypto market if you have the wrong type of crypto that you want to trade, right, your story is in the loss.

For this reason, before a beginner does trading activities in the crypto market, it is highly recommended to see and pay attention to those experts, it can get valuable lessons for beginners, Instead of having to do a mentor, don't you guide on the internet, telegram or other social media, look for the best mentors in your city, so that you correctly understand the meaning of crypto trade.

While learning from the experts are understandable, it is not "what" you should learn but "how". As in, do not go ask an expert which coin you should buy, ask him why he picked a coin he picked, and let them explain to you the reason they did, and then take that reason with you, not the coin.

This way, you can use the same reasoning to pick another coin and see if you learned something great that will benefit you, or it was just made up nonsense. Do this with enough "experts" and you will realize half of them are not experts and just bullshit masters, the rest will not be all great, some will be great but a small portion. So after all those bad and scam ones are gone, you will be left with some decent ones you can use.

[Jaksonhard]

It is normal for a newbie to not be able to explain trading. But he should be very well prepared from the beginning, and he should first test it with very little money that he can afford to lose. But if he cannot afford to lose, he can first test it with a demo account. When he gets some idea of the analysis there and he is confident that he can profit in the next trade, then he can start trading with some money. But I don't think he should give up if he doesn't know about analysis first, I think he needs to know better, what is lacking inside him.

[Pandorak]

Basically you can't just enter the market without any preparation, because that would be like gambling, purely hoping for luck. The first thing you must understand and realize is that trading has a huge risk compared to investing, it allows you to lose all your money in a short time, so it is important to have a strong reason, at least you must understand the basics of why you decide to enter an asset, the point is to learn first before starting to enter the market, better late than losing your money.

Some things you should learn:
- Trading strategy
- Money management
- Trading psychology
- Risk management
- Trading plan

You should add this up

-Emotion Control
-TA + FA analysis
-Immediate decision making on various situations or conditions

All of these things are that much needed when you are that dealing up with trading on which you would be needing up to consider on how you would be that trying out to deal up with things accordingly.
It would be just that impossible that you cant make out some realization or learnings out of those experiences that you are currently that been dealing on with. Its true that if you cant be able to read up the charts
then its better to go back into drawing board and trying out to know things first before you would be hovering yourself towards this unpredictable space. You wont be able to survive nor sustain yourself too long
if you dont have these kind of preparations and capabilities on dealing up this volatile space. This isnt some game that you can just simply put yourself in and doing not that much.

When you are that dealing up with trading then always make it sure that you would be able to learn all of those things that came from mistakes because on the time or moment that you do become that too naive or just that contented on what you are currently been that doing then you would definitely be having some issues when it comes to your trading journey. The best approach would be is that you should be that learning in all of your trades as much as possible and dont make yourself that being that too confident that you can actually do it with ease. Dealing up with a market is never been that easy and never been that someone could be able to handle in a short period of time.

Alright bro, thanks for the additional advice, i really appreciate it.

Honestly this is quite important, considering so many things to really learn before starting a trade, this is where the point lies, many of the beginners think that trading is quite easy to do, thinking that there are only two options (buy and sell), without realizing the huge risk is running behind them. Such people will only experience regret at the end, traumatized by trading and will consider trading as a real scam, when in fact the main cause of their failure is due to their own ignorance and carelessness, focusing only on profit instead of risk.

I even found some cases that happened to beginners, they suffered a total loss due to the entry of the signal grub they entered before. This is where the importance of mindset, never think you can get wealth with an instant path, try to progress first, let the market form until you become accustomed and know to determine where the market will go, even though it does not have a high win rate, as long as the accumulation every month is profitable, it means you have succeeded in becoming a trader, then just maintain consistency and adhere to the rules that have been made.

[Wakate]

It is normal for a newbie to not be able to explain trading. But he should be very well prepared from the beginning, and he should first test it with very little money that he can afford to lose. But if he cannot afford to lose, he can first test it with a demo account. When he gets some idea of the analysis there and he is confident that he can profit in the next trade, then he can start trading with some money. But I don't think he should give up if he doesn't know about analysis first, I think he needs to know better, what is lacking inside him.

Any person that can not afford to lose money should not trade because making profits from trading and losing it back to the market follows the same path.  There is nothing like I am being in the market for years and I can not make loses, the market has no respect for anyone so we would always endeavor to trade wisely and when things looks like it's not favoring us, it better we stay out of trading to preserve our trading portfolio. Making money from the market has no assurance and because of that we should never neglect the right thing to do while trading so to keep making profits without much problem.

[AmoreJaz]

It is normal for a newbie to not be able to explain trading. But he should be very well prepared from the beginning, and he should first test it with very little money that he can afford to lose. But if he cannot afford to lose, he can first test it with a demo account. When he gets some idea of the analysis there and he is confident that he can profit in the next trade, then he can start trading with some money. But I don't think he should give up if he doesn't know about analysis first, I think he needs to know better, what is lacking inside him.

First and foremost, don't think that trading will salvage you from your debts or will give you wealth at a short period of time. Because most crypto traders have the notion of getting rich why they go into this market. There's more to see here. It is okay not to explain trading to others but at least have a good grasp of what you are doing. Because not all people are good in communication and conveying to other people is quite a challenge for them. As long as you are doing good with your trades, that's fine. There's no need to explain it to others. And that means, you are already benefiting from it. But if not, maybe change your activity where you can earn this extra bucks.

[leonair]

I don't know who should be in trading and who shouldn't be, it's completely a personal matter of a person. But I will say that trading is not an easy thing, not everyone can profit from it, most traders lose in trading because of their wrong analysis. To achieve success in trading, you need a lot of technical knowledge that will help you analyze different technical aspects. The crypto market is always volatile, so it's very difficult to predict the right things from here and make a successful trade. But yes, those who constantly lose in trading and consider their losses as bad luck will save a lot of losses if they don't continue trading.

[BigBos]

It is normal for a newbie to not be able to explain trading. But he should be very well prepared from the beginning, and he should first test it with very little money that he can afford to lose. But if he cannot afford to lose, he can first test it with a demo account. When he gets some idea of the analysis there and he is confident that he can profit in the next trade, then he can start trading with some money. But I don't think he should give up if he doesn't know about analysis first, I think he needs to know better, what is lacking inside him.

First and foremost, don't think that trading will salvage you from your debts or will give you wealth at a short period of time. Because most crypto traders have the notion of getting rich why they go into this market. There's more to see here. It is okay not to explain trading to others but at least have a good grasp of what you are doing. Because not all people are good in communication.

Most beginners will undoubtedly think they want to gain profits and wealth quickly. This is perfectly natural, as it's influenced by the very things that led them to trading. Whether it's influencers promoting it or content creators constantly posting content about their profits, it's up to them whether they'll quickly realize this once they're in the market or whether they'll persist with a mindset that leads them to wishful thinking. However, if they simultaneously become familiar with this forum, I think they'll more quickly realize that their mindset is flawed.

[SquirrelJulietGarden]

I don't know who should be in trading and who shouldn't be, it's completely a personal matter of a person. But I will say that trading is not an easy thing, not everyone can profit from it, most traders lose in trading because of their wrong analysis. To achieve success in trading, you need a lot of technical knowledge that will help you analyze different technical aspects.

People who don't have good discipline and patience are not people who can trade well. The market is very volatile and people who are greedy and can not control their emotion and actions, lack of discipline and patience are most vulnerable to lose money in the market. They don't need to start trading to know that, as if they have all bad traits, they will surely lose money in trading.

Most beginners will undoubtedly think they want to gain profits and wealth quickly. This is perfectly natural, as it's influenced by the very things that led them to trading. Whether it's influencers promoting it or content creators constantly posting content about their profits, it's up to them whether they'll quickly realize this once they're in the market or whether they'll persist with a mindset that leads them to wishful thinking.

The Bitcoin and cryptocurrency market is very volatile and with many stories of x10, x50, x100 or x1000 so it's very attractive with many people as both investment and trading. The fact is market is a zero sum game and x10, x50, x100 or x1000 profit is not for everyone and most of people in the market lose money, not get profit.

If people are not aware of this risk, and don't prepare enough for their start in investment and trading, they have too high risk of losing money.

[Ziskinberg]

Basically you can't just enter the market without any preparation, because that would be like gambling, purely hoping for luck. The first thing you must understand and realize is that trading has a huge risk compared to investing, it allows you to lose all your money in a short time, so it is important to have a strong reason, at least you must understand the basics of why you decide to enter an asset, the point is to learn first before starting to enter the market, better late than losing your money.

Some things you should learn:
- Trading strategy
- Money management
- Trading psychology
- Risk management
- Trading plan

Trading isn’t gambling, so if you decide to trade, make sure you are good enough and capable to trade, otherwise you’ll end up gambling, not actually trading. The main problem here, beginner traders are reckless and greedy. They don’t have time for long term preparation prior to trading, what they have is the motivation to make money that’s why despite of lacking knowledge and skills, and no experience in the market, they still pursue trading without securing if they will make a positive outcome.

Trading gains income, but reckless trading only fuel your losses. So know when to trade and when not to, so you can avoid those future losses and prepare for maximum gains once you start trading in the market.

[@nn@_pen9]

My final words: Being a trader simply means "being a student of the market."  You must learn to research, analyze, and then to build your own strategies and adjust them when necessary. This doesn’t mean you can’t learn from others, or that one shouldn't make use of signal. Rather the newbies should note this - signals should only be used as a tool to complement your thinking, not replace it.  
Meaning that before hopping onto a particular signal/ signals, you should already have a personal strategy or signal on ground which will then be used to compare with the signal you got to know if you are right on track.

If you ever want to be independent in trading and become the best of trader to yourself, then you should not even think of subscribing to a signal class. This will limit your thinking faculty and always depend on those signals more than you do to your own trades. As a trader, you should kill all the urge of using another person’s signal to judge your mistakes in trading. Signals are a sign of you having trust in another person’s analysis and will go all in for them to place trades even without doubting them. As a trader, signals should be used to compare not to disregard your own analysis and strategies you’ve worked hard to learn and you’re improving on.

Nowadays, getting information is very easy. We simply need to learn from various social media platforms like YouTube and others, and obtain various information or signals used by influencers. Rather than taking paid classes, which are certainly quite expensive, we can compare what they share on YouTube with this information and can also modify it slightly through self-study.

Following other people's signals doesn't necessarily align with your trading style. Trading is about finding a strategy that suits your trading style and personality. Following others' signals can discourage you from learning. We should learn independently or self-taught, allowing us to see and experience market movements for ourselves. We'll also understand which patterns are better suited to our trading decisions.

[yhiaali3]

I have tried many of these channels that claim to provide successful trading signals, but I've only benefited from them a little. Even the paid ones are worth nothing. Most of them brag about their successful trades and the confirmed signals they provide but most of them are liars.

In any case, I stopped relying on them a long time ago and now follow my own strategy. It's not yet mature enough but I'm gradually making progress as I gain the necessary experience and skills. This is much better than relying on these scammers.

[ScamViruS]

I have tried many of these channels that claim to provide successful trading signals, but I've only benefited from them a little. Even the paid ones are worth nothing. Most of them brag about their successful trades and the confirmed signals they provide but most of them are liars.

I too had joined many such channels in the past, after seeing their free channel promotions and joining their paid signal group. But I didn't get any good results even after using their paid service.

Because they used to give 10-20 signals every day and the maximum of those signals were negative, and if 2-3 of them were successful, they would take credit for the fact that they had given the signal for this sure trade, but they would not say anything about the rest of the losing trades. These are actually a big trick to attract traders, and many newbie traders fall into this kind of trap, which takes them a long time to understand and ends up losing money.