Whether you are an investor or a trader, when entering the market, always prepare yourself with complete knowledge because knowledge is the only path that leads us to success. Knowledge is never useless, the more knowledge you have, the more opportunities you have to succeed.
Yeah you are right knowledge is very essential at least every trader needs the theoretical or pratical understanding about trading before venturing into, but in most cases people disregard knowledge because of greed which always turns out bad, but to evaluation victims, is mostly the beginners that always fall victim because of ignorance, every successful traders undergone processes of learning and acquiring knowledge to no the concept, Technical and fundamental analysis of the market before going in to trade, and perhaps knowledge doesn't only required on trading but on our daily life's we need knowledge for business, accumulation and holding in fact in all our day to day activities.
Knowledge is important, but we should also keep in mind that in practice it might be a little different. For example, we have the knowledge that by holding bitcoin it will make our future brighter, but holding can be that easy? of course not, I mean when we are dealing with bearish market conditions for example, sometimes knowledge and panic will collide there, on the one hand we know that we have to stay afloat, on the other hand there is panic seeing the market which will eventually shake us a little. I am talking like this based on my experience when I was still early in the bitcoin space, but slowly I was able to get rid of that panic and now I am more calm even though the market may not be friendly. Instead, I am now thinking how to take advantage of the unfriendly market.