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

[Maslate]

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.

Not all traders are good enough to explain their trades to others, but I don’t think that will still matter. Your own analysis isn’t other trader’s business, so stick on your own without getting affected by others’ signals and analysis. What’s more important is that you know how to navigate your own trade, you know how to increase the winning potentials when trading, despite how unpredictable the market is.

Trading is a serious business and quite risky market activity. If you think you still lack the potentials to win your trades, then take some time to increase your experience through market exposure, but chose demo trading first before you decide to finally trade in a real trading market.

[Jegileman]

Trading signals are scam. I can create 10 positions right now. I will make money and screenshot them. Only what is needed to be done is to created both long and shot positions of the same coins pairs at the same price using the same amount of money for both pairs. No loss than the transaction fee. I will then only share the winning part for people to see how good I am. They will think that I am a pro bro which is a lie.

This particular approach do come to mind always whenever I see traders showing off their wins. I’d be like how did they get it so perfect that others didn’t get it also. Posting wins always and no lose is not a sign that they’re the best of traders. Trading involves both wins and loss and if they post more losses that wins, they will not get to attract many students to subscribe to their signal groups. The online world is full of many possibilities that are fake, so you’ve to be careful who you trust especially when it involves money.

[Josefjix]

There are many signal groups out there that are actually working smoothly, I've joined one way back 2020-2021 where every signal dropped on the group was 80% perfect, trades going as it suppose by the signal owner, although, I was novice in analysis, but I followed the instructions and got the best results depending on the budget I used.

Joining the wrong signals will certainly ruined your trading journey, maybe will push you to doing more research about trading strategies and off of that.

[Egii Nna]

One of the first things most newbies in crypto trading think about is how to get access to signals, whether it is following a “guru” on Telegram, or paying for so-called "sure signals." The truth is that due to the market's volatility, there is no such thing as a sure signal.

Signals are simply just the conclusions of someone else's analysis, and just like any other analysis it is not 100% certain. And relying fully on someone else's signals without backing it up with your own research is synonymous with betting your funds on another person's thought process, without even knowing how they arrived there

Most of these newbies are not actually in trading for the knowledge, but for the money. That is why, most of the time, you will find them chasing sure signals so that they can get quicker and easier money, instead of going on their own research and analysis. At the end of the day, it affects them to the extent that they just keep losing money, and they start thinking that trading is not a way of making money, but just a scam. However, if they had taken their time to learn, they would find it easier to do their own research and analysis, and also earn better profits for themselves, rather than relying on someone else’s signals.

[sheenshane]

One of the first things most newbies in crypto trading think about is how to get access to signals, whether it is following a “guru” on Telegram, or paying for so-called "sure signals." The truth is that due to the market's volatility, there is no such thing as a sure signal.

Signals are simply just the conclusions of someone else's analysis, and just like any other analysis it is not 100% certain. And relying fully on someone else's signals without backing it up with your own research is synonymous with betting your funds on another person's thought process, without even knowing how they arrived there

Most of these newbies are not actually in trading for the knowledge, but for the money. That is why, most of the time, you will find them chasing sure signals so that they can get quicker and easier money, instead of going on their own research and analysis. At the end of the day, it affects them to the extent that they just keep losing money, and they start thinking that trading is not a way of making money, but just a scam. However, if they had taken their time to learn, they would find it easier to do their own research and analysis, and also earn better profits for themselves, rather than relying on someone else’s signals.

I will not call them traders because they trade without proper knowledge, and to me, that is an act of gambling.
A trading signal is not good for newbies, as it can cause confusion that leads new traders to lose money rather than make it.
It is also possible that a trading signal could be a scam or create hype groups where only those at the top gain most of the benefits, not the members.

Trading isn't about talking or chasing money, sometimes, you need to accept your losses and learn from your mistakes.

[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.

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.

Absolutely true. This is their deceptive tactic to deceive subscribers and attract them to subscribe to their channels. As you mentioned, they only post winning trades and brazenly boast about their achievements even though their success rate in reality is only 3-10%.

Another type of scam is the spread of free signals groups for Pump.Fun memes. These scammers buy a meme and then post a recommendation for the meme that it will rise several times. When these foolish subscribers start buying and the meme's price rises, the channel owner sells to them and suddenly dumps the price, causing losses for these poor people who don't know what happened.

[ScamViruS]

Another type of scam is the spread of free signals groups for Pump.Fun memes. These scammers buy a meme and then post a recommendation for the meme that it will rise several times. When these foolish subscribers start buying and the meme's price rises, the channel owner sells to them and suddenly dumps the price, causing losses for these poor people who don't know what happened.

Currently, many groups are running these pump and dump schemes on a large scale, and ordinary crypto investors are falling into those traps and losing all their money. Now these pump and dump schemes are also being run by various big influencers. Currently, so-called crypto gurus are promoting such projects on various platforms including Telegram and X, but the goal of all of them is to create hype and dump their held coins to late buyers.

The crypto community should be more careful and refrain from blindly trusting any so-called crypto experts. Because most of these influencers are not honest, they can do anything for their own gain.

[Fivestar4everMVP]

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.

I do not think I want to be a student of the market because students are those who are still learning and are bound to make mistakes most of the time, but then, I want to be a master of the market because masters learn but at the same time, also teach.
So, I will personally say for myself that being a trader simply means being a master of the market, you are in charge of your own decisions and it's out comes.

So yeah, as a boss who is expected to be independent, it truly makes no sense relying on someone elses analysis and final decisions when it comes to predicting the direction a market is likely to go, it's absolutely necessary for us to learn to analyze the market ourselves and anything or prediction that is outside our own should be treated as a secondary option, this is for when we are not very sure about our own predictions based on our personal analysis.

[justdimin]

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.

Unfortunately, those people have no idea what they are doing which causes the bitcoin market to be considered "dangerous". I have talked with so many newbies and people who lost money in the crypto, and most of them did something stupid to lose that money, and then they claim that they got into something dangerous, or they say that it's like gambling.

Reality is, it is not, crypto is safe if you are doing something safe, but most people do not do something safe and that is why it doesn't make that much sense to get it done. We need to focus on how to grow this, and do a better job, so we can safely get a better profit, but many people fail to do that. It's clear that we need to make more money from this, and get a better return.

[Adams0001]

One of the first things most newbies in crypto trading think about is how to get access to signals, whether it is following a “guru” on Telegram, or paying for so-called "sure signals." The truth is that due to the market's volatility, there is no such thing as a sure signal.

Signals are simply just the conclusions of someone else's analysis, and just like any other analysis it is not 100% certain. And relying fully on someone else's signals without backing it up with your own research is synonymous with betting your funds on another person's thought process, without even knowing how they arrived there

Most of these newbies are not actually in trading for the knowledge, but for the money. That is why, most of the time, you will find them chasing sure signals so that they can get quicker and easier money, instead of going on their own research and analysis. At the end of the day, it affects them to the extent that they just keep losing money, and they start thinking that trading is not a way of making money, but just a scam. However, if they had taken their time to learn, they would find it easier to do their own research and analysis, and also earn better profits for themselves, rather than relying on someone else’s signals.

Many newbies are not really ready to learn. they are just after the huge profit, they usually need fast money and that is the main reason why most of them failed when they start trading, because they don't like to make research and get the full knowledge before joining the market. But just to get someone to teach them on how to set signals and wait for the return. And trading is not always easy because is volatile and you can't predict the market always. So you need to minimize your risk and get the Knowledge and experience before engaging your self into it. Is easy to analyse trade. but are you really show of what you analysing. Knowledge is the key to get advantage to achieve your goals.

if you are not perfect on trading is best thing to do is to go and learn about it first before starting risky your money. Because I understand something in this life. if they says something that will bring huge profit, they will always be some challenges you will face fast and trading is risky. if you didn't get experience about it you will always lose so is good someone to understand trading before engaging your self.

[Mahanton]

One of the first things most newbies in crypto trading think about is how to get access to signals, whether it is following a “guru” on Telegram, or paying for so-called "sure signals." The truth is that due to the market's volatility, there is no such thing as a sure signal.

Signals are simply just the conclusions of someone else's analysis, and just like any other analysis it is not 100% certain. And relying fully on someone else's signals without backing it up with your own research is synonymous with betting your funds on another person's thought process, without even knowing how they arrived there

Most of these newbies are not actually in trading for the knowledge, but for the money. That is why, most of the time, you will find them chasing sure signals so that they can get quicker and easier money, instead of going on their own research and analysis. At the end of the day, it affects them to the extent that they just keep losing money, and they start thinking that trading is not a way of making money, but just a scam. However, if they had taken their time to learn, they would find it easier to do their own research and analysis, and also earn better profits for themselves, rather than relying on someone else’s signals.

Many newbies are not really ready to learn. they are just after the huge profit, they usually need fast money and that is the main reason why most of them failed when they start trading, because they don't like to make research and get the full knowledge before joining the market. But just to get someone to teach them on how to set signals and wait for the return. And trading is not always easy because is volatile and you can't predict the market always. So you need to minimize your risk and get the Knowledge and experience before engaging your self into it. Is easy to analyse trade. but are you really show of what you analysing. Knowledge is the key to get advantage to achieve your goals.

if you are not perfect on trading is best thing to do is to go and learn about it first before starting risky your money. Because I understand something in this life. if they says something that will bring huge profit, they will always be some challenges you will face fast and trading is risky. if you didn't get experience about it you will always lose so is good someone to understand trading before engaging your self.

Whenever you do just came for the sake of making profit then you would definitely be facing up some issues when it comes to those mistakes and errors on which it would be that definitely be having that kind of impact on which tons of these noobs would be that easily quitting after they had been able to experience the worst and to thsoe who had been able to make out those realizations then they would be making out some adjustments. So its really that important that you do need up to do on what are the things that must be done because if you wont be that having that realization at least then you do end up on becoming that delusional and thats not something good for someone who do touch up on doing trading. Its normal that we will be having those errors and mistakes because we cant be that all knowing being at the time that we do deal up with something. There are just that those times that you do need up to consider on how reality works so that you wont be finding yourself having those issues specially on emotions and psychology aspects. On the moment that you do make out some trades then never ever make yourself that being that too positive towards outcomes on which it would be bringing out that very huge disappointment and frustration at the moment that you wont be able to hit up your goals. Its always recommended that whenever you do have the plans on hovering yourself towards this market then it will be that recommended that whenever you have decided to deal up with trading then make yourself that versatile as much as possible. You do need up to learn up with those mistakes that you had been able to obtained out because usually people wont be that progressive when it comes to skills handling on the time that you've been that trying out to realize on what happen. There are just that those times that you do become that too naive on things on which you dont care up that much as long you arent that still sleeping on the streets then you wont be that minding that much. It would be just that situatioanal because not all person would be that just that the same when it comes into this aspect on which there are those who are that having that good control when it comes to emotions and there are ones who are not.

[GigaBit]

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.

Generally, trading platforms are considered a competitive platform for skilled individuals. Those who trade they only do that after gaining knowledge and experience. But there are some individuals who are interested in trading without increasing their knowledge and skills and among those traders, there is a lot of interest in trading with trading signals. Trading with trading signals does not require any knowledge of your own, here you have to trade depending on the trading knowledge of others. If that person takes any wrong step, those who trade with trading signals will also make mistakes. You should only trade by analyzing your own skills and knowledge.

[Leahized]

This particular approach do come to mind always whenever I see traders showing off their wins. I’d be like how did they get it so perfect that others didn’t get it also. Posting wins always and no lose is not a sign that they’re the best of traders. Trading involves both wins and loss and if they post more losses that wins, they will not get to attract many students to subscribe to their signal groups. The online world is full of many possibilities that are fake, so you’ve to be careful who you trust especially when it involves money.

Yes, it is possible to lose a lot of time when trading it true. I have seen a lot of people's emotions in the past and because of this emotion everyone is very deceived. You will agree with me somewhat. Because now almost everywhere is just talking about prophets but no one never says how much he lost money. For example, you will see social media and see the various telegrams trading, only profit and profit. By looking at these, they attract a lot of people so that they trust them and though most of the time they provide for PAID courses. Or you have to spend a lot of money to get the signal. But I will not be cheating on all but most channels cheat on people. That is why we should all gradually make ourselves skilled and not dependent on others.

[Wakate]

This particular approach do come to mind always whenever I see traders showing off their wins. I’d be like how did they get it so perfect that others didn’t get it also. Posting wins always and no lose is not a sign that they’re the best of traders. Trading involves both wins and loss and if they post more losses that wins, they will not get to attract many students to subscribe to their signal groups. The online world is full of many possibilities that are fake, so you’ve to be careful who you trust especially when it involves money.

Yes, it is possible to lose a lot of time when trading it true. I have seen a lot of people's emotions in the past and because of this emotion everyone is very deceived. You will agree with me somewhat. Because now almost everywhere is just talking about prophets but no one never says how much he lost money. For example, you will see social media and see the various telegrams trading, only profit and profit. By looking at these, they attract a lot of people so that they trust them and though most of the time they provide for PAID courses. Or you have to spend a lot of money to get the signal. But I will not be cheating on all but most channels cheat on people. That is why we should all gradually make ourselves skilled and not dependent on others.

Trading is not guaranteed even when you can analyze the market. Making money from the crypto market is all about your strategy and risk management. People keep confusing themselves about winning trades when they cannot use risk management successful for several trades. Greed has been the problem while we keep seeing people losing money from trading. If you can not stick to a good risk management then you have to go back to the class. Analyzing trades does not give you an edge over trading in the market successful while becoming profitable trader.

[jaberwock]

Generally, trading platforms are considered a competitive platform for skilled individuals. Those who trade they only do that after gaining knowledge and experience. But there are some individuals who are interested in trading without increasing their knowledge and skills and among those traders, there is a lot of interest in trading with trading signals. Trading with trading signals does not require any knowledge of your own, here you have to trade depending on the trading knowledge of others. If that person takes any wrong step, those who trade with trading signals will also make mistakes. You should only trade by analyzing your own skills and knowledge.

That is the risk they are taking and there is no need for it. Just one person making a mistake, makes all of the people using that signal to make a mistake. And the funny thing is, the person who makes the mistake, do not have to trade neither, they just need to share the signal and if they do, then they are going to be fine.

We need to just realize how these are different stuff, and we need to just focus on how to get a better return. This is the way to move forward, it's going to get a lot better. So try to get a lot better, so that you wouldn't need someone else and you can do it yourself, it would be a lot better if people learned how to do it themselves and take the responsibility, so others mistakes wouldn't hurt you.

[dunfida]

This particular approach do come to mind always whenever I see traders showing off their wins. I’d be like how did they get it so perfect that others didn’t get it also. Posting wins always and no lose is not a sign that they’re the best of traders. Trading involves both wins and loss and if they post more losses that wins, they will not get to attract many students to subscribe to their signal groups. The online world is full of many possibilities that are fake, so you’ve to be careful who you trust especially when it involves money.

Yes, it is possible to lose a lot of time when trading it true. I have seen a lot of people's emotions in the past and because of this emotion everyone is very deceived. You will agree with me somewhat. Because now almost everywhere is just talking about prophets but no one never says how much he lost money. For example, you will see social media and see the various telegrams trading, only profit and profit. By looking at these, they attract a lot of people so that they trust them and though most of the time they provide for PAID courses. Or you have to spend a lot of money to get the signal. But I will not be cheating on all but most channels cheat on people. That is why we should all gradually make ourselves skilled and not dependent on others.

Trading is not guaranteed even when you can analyze the market. Making money from the crypto market is all about your strategy and risk management. People keep confusing themselves about winning trades when they cannot use risk management successful for several trades. Greed has been the problem while we keep seeing people losing money from trading. If you can not stick to a good risk management then you have to go back to the class. Analyzing trades does not give you an edge over trading in the market successful while becoming profitable trader.

There's no such thing about being guaranteed on which when dealing up with trading then you should be that looking up for yourself that you do need up to be knowledgeable into those things that you've been that involved with. You cant just thats simply dive in without have any preparation towards it. Now we've been speaking about those traders who do think that they can make easy money with trading without having those realistic approach on which they've been that making up some blind trades and hoping that they can make those profitable trades on which this isnt something that you do need up to look into. Its always been that recommended that you should be knowledgeable and well informed about on how this market works and behaves at least. Usually newbies will be having that positivity and that what makes them that too careless.

Its important that you should be that knowledgeable so that you would be able to make out some potential action basing up into the situation. We arent that just simply putting up on a position and just simply
forget and wait up for it to make some cash. Being that too optimistic and having that carelessness then it would be ending up on having those disastrous people who do end up on experiencing it out.

[harapan]

If you're a student I think you still got a lot to learn about trading cause trading is not just something you go into and expect returns of the day so quickly, I think you should be aware of the risks and bot trusting any of those signals groups because most of them are just there assigned to lure you and disorganize your plans of focusing. So then if you're not taking advantage of this then you ought not to be in the trade.

[CageMabok]

If you're a student I think you still got a lot to learn about trading cause trading is not just something you go into and expect returns of the day so quickly, I think you should be aware of the risks and bot trusting any of those signals groups because most of them are just there assigned to lure you and disorganize your plans of focusing. So then if you're not taking advantage of this then you ought not to be in the trade.

Traders who are still learning should take advantage of anything that can broaden their trading knowledge, including signals from others. There's no harm in observing other people's signals, but if you don't use them immediately before fully understanding them, that's also part of the learning process. Even if they aren't good enough for you, they can still serve as initial analysis, allowing you to eventually create your own signals when trading. Everything created by others always needs to be analyzed carefully to identify its weaknesses and strengths, allowing you to make a wise decision about whether or not to use it.

[sana54210]

Unfortunately, those people have no idea what they are doing which causes the bitcoin market to be considered "dangerous". I have talked with so many newbies and people who lost money in the crypto, and most of them did something stupid to lose that money, and then they claim that they got into something dangerous, or they say that it's like gambling.

Reality is, it is not, crypto is safe if you are doing something safe, but most people do not do something safe and that is why it doesn't make that much sense to get it done. We need to focus on how to grow this, and do a better job, so we can safely get a better profit, but many people fail to do that. It's clear that we need to make more money from this, and get a better return.

Wish we could prevent that. I honestly believed for a while to have a "90 day limit" to all new accounts at exchanges, but then I realized that would just make the exchange used less and the trader would go to some other competition.

I am sure that in 90 days they would learn to be better if they just study, that's 3 months and while that is not fully enough, it's also not nothing, they would be better than trading on day one. I now know that's not possible, but it is true that people who jump in, right away, based on what they heard or saw online, are people who make our market look bad. I want to find a way to prevent this happening, but so far I have no come up with a good plan yet, I hope it gets better eventually.

[shield132]

One of the first things most newbies in crypto trading think about is how to get access to signals, whether it is following a “guru” on Telegram, or paying for so-called "sure signals." The truth is that due to the market's volatility, there is no such thing as a sure signal.

Signals are simply just the conclusions of someone else's analysis, and just like any other analysis it is not 100% certain. And relying fully on someone else's signals without backing it up with your own research is synonymous with betting your funds on another person's thought process, without even knowing how they arrived there

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.

I do not trust signals. It's another form of scam because first of all, whales do not sell any signal for a few bucks and second of all, if there is someone who sells signals, then this person makes money from selling signals, not from signals. And there is the 3rd option, the person sells signals but is a whale and uses that as an advantage to liquidate those who bought his signals. Btw the title of your thread is a very wise statement. If you can't explain the logic behind your action, then you shouldn't trade. I'll mark these words and write them down in my notes.