Knowledge edge

[traderethereum]

Having knowledge about trading helps you to analyze the market before trading. You will not get problems determining when you can enter the market and find the coin. Your time to analyze the coin will not take too long because with your skills, you will have time to trade.

But that is difficult to have high skills in trading and which is why not many people can analyze the market. If you can't find the time to trade, you will not force entering the market but waiting for a while will be a good decision. Besides that, you don't panic if the market changes direction because you can adapt to the current situation. Having knowledge will help you trade better.

[bettercrypto]

In the trading world whether Forex, stocks, or crypto we don’t need to rush to profit here. It’s even better that anyone entering this field should prioritize gaining the right knowledge.

It’s true that each of us already has some understanding of what we’re doing, so we need to establish this trading knowledge first. Once we build it with proper implementation,
the result will likely be that we can become profitable in the end.

[Lanatsa]

To every forex or crypto trader, new or old who wants to be successful. You need ro know the truth, The most profitable investment you will ever make is not in forex or crypto but in yourself. The market is vast and difficult  and ony the qualified can make money from it, just like a hob you have to be qualified enough to be there for a long period of time, if your not qualified you wouldn't last. Because of the urge to make money some traders just rush in funding their accounts and most times end up  blowing it and loose money, but one thing each trader have to understand is that what gives you the profit is knowledge.
You know sometimes its better to just leave your account and do not fund it for a while, change your perspective and focus on knowledge focus on learning new things from the market every day, try to have an edge ovet the market, by waiting for repeatable patterns that form and see their reaction after those patterns, if you see them in future again you know what to do that can be your edge in the market. If your not profitable now you can leave money for a while and go for knowledge, study your charts and the money will later

This is good advice because we traders sometimes forget the importance of little and humble beginnings and we only notice how much stale we have gotten with our overused strategies that we must then go back to learn new patterns or strategies to adopt or improvise on.

Self improvement will help any trader become better than the trader who only wants to make quick profit from trading without taking time to understand the theatrics involved. Self improvement will help a trader understand and practice risk management without being told and be more successful and a master at trading in no time sooner than a trader who believes in that old strategy that they learnt from a mentor or learnt haphazardly.

The kind of mindset every trader needs to hear more often cause it’s the truth the best investment you’ll ever make is in yourself not in some random coin or a flashy forex pair the market will always be there but what really determines how long you last in it is what you know and how disciplined you are people rush to deposit funds but skip the real foundation part which is studying understanding the structure and developing emotional control if you can’t control yourself the market will do it for you and it’s never gentle about it.

Sometimes the best move you can make isn’t to fund your account or enter a trade it’s to step back and study again learn the psychology behind candles patterns and price behavior see how your emotions react when you lose or win that’s how you build awareness and skill every great trader once spent months just watching the charts with no trades just observing patterns repeating learning when to strike and when to chill money will always follow knowledge not the other way around. In trading the mindset is what separates the gambler from the professional the gambler hopes the pro prepares the gambler blames luck the pro studies why it failed every dollar lost in the learning phase is actually tuition for your growth cause once you master patience timing and emotional control the market stops being chaos and starts becoming predictable in patterns that only a trained mind can see so yeah pause when needed focus on learning and the profits will eventually chase you instead of the other way around.

[DaNNy001]

Knowledge wouldn't always guarantee profit but it can sure help to save you from losing too much...when it comes to trading you must learn before you can think of earning..making profit shouldn’t be the first thing that comes to your mind as beginner, you must focus on building a strategy that works for you overtime,  this would help you to minimise the losses that you would incur in the long run

[boyptc]

I agree that sometimes, it's best not to participate the market even if we think that we're going to profit from it but in reality we're not, and we're losing.

Because when things that are getting you to the point of losing most what you've got, taking time to learn how it goes for the market on that moment will save you.

So, to those traders that are profitable, there's no need for them to stop. But if the results are not favorable to them, it's better that they'll analyze first whether they'd proceed or not.

That's basically it. A trader should understand all factors in trading before entering. Thinking about making a profit before entering the market is like gambling, because we're relying on gut feelings instead of analyzing. If that's the case, it's understandable why people consider trading a form of gambling.

Stopping when you experience a loss doesn't mean giving up; rather, it's a process of analyzing what went wrong with your trade and why you ultimately suffered a loss.

It's a way to cooldown.

A trader doesn't have to go after the markets at all times. Because even the day traders, they have pampering times and when the market isn't good based on their analysis, they're stopping and try to relax.

There's always those times that we have to stop, rethink and reapply the common strategies that we have probably forgotten.

Because there might times that we're pressured to the market and we think that we need to bear with it everyday which we shouldn't.

[rachael9385]

Having knowledge gives an edge over the market and if you are planning to take trading seriously you wouldn't joke with investing in yourself before you think about making profit. Those that don't gather enough knowledge would eventually incur losses in the long run. If you don't take out your time to learn then everything you are doing in the market would just be based on instincts and that's gambling.

[Zanab247]

But we all need that money! That's why the urge to do it soon is there.

OP has a point, and we can relate it to "not all of the time is good to trade". Like it doesn't mean you already close your long position, it means you are already bearish or it's already good to short the market as soonas  you exit your long position.

But it will not stop you from learning, because your effort to achieve the knowledge  of trading will not be in Vail in future. If you don't learn very well before trading your crypto it can cause you what you will never recover from in crypto trading. There are some difficult time to earn profit while there are some easy time to earn profit but your knowledge and research will review the real time to trade to earn big profits.

It depends how quick you are to earn profit, but if you are not in hurry to trade when the market is showing red light, you will get it right when the red light turn to green light.

[Emitdama]

There are some difficult time to earn profit while there are some easy time to earn profit but your knowledge and research will review the real time to trade to earn big profits.

Yes, this is how your knowledge will help you to be sustaining with the market. Knowledge on handling hard times must be more important than knowing the techniques to make profit. Because, most traders will end up quitting on difficult times but if you have sound knowledge with experience then you can overcome all difficult times. So I would say that at the end of the day, success in trading is simply direct proportional to how you handle your difficult times.

you must focus on building a strategy that works for you overtime

Knowledge helps you to build a perfect trading system suitable for you. What you learn from the books and what you practice in real market seed your knowledge and from this point that you start getting your perfect trading strategy.

[Arenga pinnata]

To every forex or crypto trader, new or old who wants to be successful. You need ro know the truth, The most profitable investment you will ever make is not in forex or crypto but in yourself. The market is vast and difficult  and ony the qualified can make money from it, just like a hob you have to be qualified enough to be there for a long period of time, if your not qualified you wouldn't last. Because of the urge to make money some traders just rush in funding their accounts and most times end up  blowing it and loose money, but one thing each trader have to understand is that what gives you the profit is knowledge.
You know sometimes its better to just leave your account and do not fund it for a while, change your perspective and focus on knowledge focus on learning new things from the market every day, try to have an edge ovet the market, by waiting for repeatable patterns that form and see their reaction after those patterns, if you see them in future again you know what to do that can be your edge in the market. If your not profitable now you can leave money for a while and go for knowledge, study your charts and the money will later

Prioritizing knowledge or insight about trading itself is essential for a trader's initial capital before truly diving into trading. Gaining that insight requires time and money. Anyone who wants to skip this stage will likely experience losses in their early trading sessions, only to learn about trading itself after they feel they need that insight to avoid further losses.

Even after we have basic insights into technical analysis, we must also be adept at gathering information before entering a particular trade. Or before deciding which coin or stock to invest in, we need information that can guide our fundamental analysis. Ultimately, insight is crucial.

[Hypnosis00]

So far as trading is concerned, knowledge is the principal thing, and if you don't have it, there is nothing you can do about it. The first thing every trader needs is not even capital but knowledge.

If you have capital to trade but no knowledge, trading is just a waste of money and effort. Knowledge is the most valuable thing every trader needs because your knowledge in trading will determine your outcome. This is why traders who think they can just come to the market to trade will always be at a loss. In trading, you need knowledge to be lucky in the market; if you don't have knowledge, you can't succeed in trading with just luck alone.

There is nothing powerful in trading than a knowledgeable trader. You trade based on what you know and what you've learned from those reliable experiences shared by successful traders. So being a knowledgeable one creates an edge not just in trading but to all aspects that requires knowledge to succeed. That is why one should  not rush into trading without prioritizing learning first. Your knowledge has always its great way towards success, while your ignorance will definitely pull you back from reaching your goal.

[tygeade]

Knowledge helps you to build a perfect trading system suitable for you. What you learn from the books and what you practice in real market seed your knowledge and from this point that you start getting your perfect trading strategy.

A good trading strategy, can only be good for short term, not for long term because it will need to change. So I think if you have a chance to make any money out of these strategies that are good, then you need to optimized the hell out of them and make the most out of them and squeeze every penny profit you can from them before they start to become bad.

I understand that is not the result you want to hear, but that is the reality and there aren't really anything that would be sad for us because changing your strategy gives you more chance. Well, if you have a good one now, others may have a good one, and your profit will drop, whereas if you look for new one, you could make more and then be ahead of everyone else if you are early. So, you need to keep innovating with your strategy and for that you must have enough knowledge on latest requirements and trends of market.

[MusaMohamed]

Prioritizing knowledge or insight about trading itself is essential for a trader's initial capital before truly diving into trading. Gaining that insight requires time and money.

Knowledge is key for everything, and it's true for trading, and all other things like investment in Bitcoin or just simply use bitcoin for yourself. Lack of knowledge is a high risk foundation for something terrible later, for example, if you don't know importance of private keys, non-custodial wallets, and better open-source wallets, you will store your bitcoins on centralized exchanges and have risk of losing coins anytime.

With trading practice in a volatile market with availability of very high leverages to use in margin and futures trading markets, if you lack of knowledge about the market, trading, risk of liquidation by using leverages, you will make very greedy and bad trading positions which cost you your money later.

Anyone who wants to skip this stage will likely experience losses in their early trading sessions, only to learn about trading itself after they feel they need that insight to avoid further losses.

They can do it, but if they do it, they self put their trading positions and trading capital into very high risk of loss and massive loss by position liquidations.

A good trading strategy, can only be good for short term, not for long term because it will need to change. So I think if you have a chance to make any money out of these strategies that are good, then you need to optimized the hell out of them and make the most out of them and squeeze every penny profit you can from them before they start to become bad.

The market is not only volatile but also not maintain a same movement direction or follow its past cycle patterns, therefore traders in this market have to be knowledgeable, skillful, and well-prepared with weapons to defend their trading capital.

If they can not close their positions before possible high volatile movements, they can set up stop loss order or stop limit order for automatically close their trading positions for avoiding or reducing loss severity.

It's terrible to be confident about your knowledge, skills and your trading positions, while skip the setup of either stop loss order or stop limit order.
One of the best weapons in trading. Trading strategies can not keep your trading positions and capital safely if you don't use such trading weapons.

[mrust_mobile]

You definitely need knowledge if you want to be a winner and stay winner in the long run but knowledge itself doesn’t guarantee success because there are different grades of knowledge (some knowledge is actually useless while some other are simply priceless) and different people have different degrees of skills to process their knowledge. Then there is also that thing called luck. Unless you engineer a system using knowledge and skills to minimize the deciding effect of luck on the outcomes, your system won’t work the way you want it. It will be just another dice game. The amount of knowledge and skill to master such a system is huge though. If it was easy everyone would do it.

[BigBos]

That's basically it. A trader should understand all factors in trading before entering. Thinking about making a profit before entering the market is like gambling, because we're relying on gut feelings instead of analyzing. If that's the case, it's understandable why people consider trading a form of gambling.

Stopping when you experience a loss doesn't mean giving up; rather, it's a process of analyzing what went wrong with your trade and why you ultimately suffered a loss.

It's a way to cooldown.

A trader doesn't have to go after the markets at all times. Because even the day traders, they have pampering times and when the market isn't good based on their analysis, they're stopping and try to relax.

There's always those times that we have to stop, rethink and reapply the common strategies that we have probably forgotten.

Because there might times that we're pressured to the market and we think that we need to bear with it everyday which we shouldn't.

Every trader experiences moments of market pressure or losses, as our psychological state isn't always good. There are times when even a small loss can cause psychological distress.

So, taking a break from the market, or even simply not looking at it for a while, is a good thing. In certain situations, we can feel bored with the market, especially when things aren't going well. I sometimes practice this, especially when I'm on vacation. This way, I can enjoy my vacation to the fullest.

[M47AK16]

Every trader experiences moments of market pressure or losses, as our psychological state isn't always good. There are times when even a small loss can cause psychological distress.

So, taking a break from the market, or even simply not looking at it for a while, is a good thing. In certain situations, we can feel bored with the market, especially when things aren't going well. I sometimes practice this, especially when I'm on vacation. This way, I can enjoy my vacation to the fullest.

When no market moves as per our predictions, you will often experience pressure of market which may lead you up to distress state, so handling unexpected market situation needs experience and that kind of experience is possible only you have prior knowledge and guidelines on handling market fluctuations. So, knowledge must have edge on bitcoin trading.

From my past experiences if my bitcoin position got stuck, I will simply leave off my position without any stoploss and will wait for market to bounce back. With this strategy, I have avoided losses many times and made decent profits as well.

[TheUltraElite]

There is nothing powerful in trading than a knowledgeable trader.

The important thing about knowledge is that it gives you the confidence required to be able to place those risky orders, like buying at the bottom because you know that the asset will perform well in future. This is difficult in stocks but easier in bitcoin because we all know that it is going up only.

Consider an altcoin which recently came out, you cannot be so sure that it will perform well in future unless you observe it for some years and also the fact that it survives a few years in the market.

Along with this, patience is also important. You cannot expect to be able to make profit if you rush into every order and will end up making wrong orders.

[Byebyebtc]

But we all need that money! That's why the urge to do it soon is there.

Yes we all need money, but you cant get money if you keep in loosing trades because of lack of, knowledge that is why it is better to hold on and go for knowledge first,

If not the money you find you might even end up loosing more, that is why patience is very important to become successful in life.

[CryptopreneurBrainboss]

You know sometimes its better to just leave your account and do not fund it for a while, change your perspective and focus on knowledge focus on learning new things from the market every day, try to have an edge ovet the market, by waiting for repeatable patterns that form and see their reaction after those patterns, if you see them in future again you know what to do that can be your edge in the market. If your not profitable now you can leave money for a while and go for knowledge, study your charts and the money will later

Wrong mindset has already spoiled the outcome of your investments. You can't make profits when your mindset isn't about winning. Trading is all about experience and research. Without having this two or mastering them, you aren't going further in trading. Traders study charts from past markets to give them an Idea of what the market is about to do so for you to become good too, you'll need to go through the same learning phases. Traders with the luxury of mentorship perform better than those without because of the guardians from the mentors and this prevent some avoided mistakes that we would had made if the mentor wasn't present. A trader can never stop learning because of new coins getting introduced to the market that needs learning for trading.

[Dickiy]

I understand your point investing from the neck up, increasing your knowledge and understanding, because this is the key to success in anything, considering that every action and decision begins with a thought. The more knowledge we have, the closer we are to our goals.

This means that whatever field you want to pursue, the first thing you should prioritize is learning and learning, nothing else. I also have a friend who loves learning. He was willing to put aside his desires to buy many books, and it's proven that he is now successful and financially stable. This means that the first thing we must have is knowledge, because if we have knowledge, money will surely chase us.

[Kasabus]

If you don't have the required knowledge, it's pointless to stay in the market trading or investing while you continue to aim for bigger profits. In the end, you don't get your desired outcome, you only get real losses and lessons in life. Knowledge gives you an edge, and that makes you well-appropriate on the endeavor you are currently in. But if you are here just for the sake of satisfying your greed without sufficient amount of knowledge and market potentials, you are just pouring problems on your part. Lack of knowledge and preparation won't make you profitable enough.