Post
Topic
Board Trading Discussion
Re: For newbies and plebs who want to self-study to become "traders"
by
Aanuoluwatofunmi
on 08/08/2023, 19:37:33 UTC
My advice - BE CAREFUL

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

Plus "as traders", most of you will lose money and leave. Some of you might return and lose more money. Some might have learned their lesson the hard way and just HODL Bitcoin. The few who actually put in the most time, effort and who are well-capitalized might make it.
thanks to you for this topic, newbie traders have big expectations for trading, they come to make a lot of money but the majority of them just lose money and then leave, while those who persist definitely have a chance to become an experienced and even professional trader.

like a battlefield, trading activity is that, every trader must have good skills -> understand analysis techniques, fundamentals, economics, understand how to use trading tools, control emotions, not be lazy to keep learning is the basic foundation that must be owned by every both beginners and experienced traders (this is an important thing that many professional traders have explained)
It is definitely a battlefield, there will be buyers and sellers and they will fight each other to be the right one. Sellers will sell because they think it will go down, and if they sell and the price goes down afterwards that means they won that battle, the buyers are buying because they think they are going to make a profit and if they are right and the price goes up then they made that profit.

So long story short we are talking about a situation where it will be quite possible for people to make a profit like that. I understand it is going to take a while but it will be quite possible for us to just make it work. I believe it is not going to be that much of a problem if you lose a battle, because it is important to win the war instead.

Not everything that we see, read and watch are real and provide trusted and reliable source of information so we better be observant and keen not to be deceived by those who only want to make money and not to help beginners. As much as possible, we should do a research right after one research so we won't fall for deceptive traps.
Not because we're newbies, we will believe in hearsays and fake information. We should be skeptical in absorbing kowledge and legit information and we shouldn't be innocent victims of those who are just pretending to be pros.

That's true, we have to understand that not everyone that teaches know how to teach, also not everything we see online are true the same way the appear online, when we see anything offered to us, we shouldn't hesitate to conduct a research on them to know what others have on them, information should not be centralized or vested on one side, we need to seek for more ways to know how genuine and true they are from a verified source.