Post
Topic
Board Trading Discussion
Re: Newbie traders, work on yourself.
by
Uruhara
on 31/01/2024, 10:44:50 UTC
Newbies when it comes to trading you have to work on discovering yourself and not to basically depend on a  third-party or trading signals before you can execute a trade. You can rely on signals from those you view as professionals and still would not make profits and the reason for this isn't far fetched from the truth. It is because since it's not your analytics you have no comprehension to build confidence on the basis to why the signal request you to either sell or buy which makes any little falllback, retreat or retracements of the market in the process of your trading causes you a cold feet and extreme fright.

So the earlier every newbie interested trader understands that the period  he/she could use to seriously learn how to trade no matter how short the period could be in acquiring the right ideas/knowledge about trading to make you selfreliance, you'll be exhuming yourself from days to years of reliance on signals that not even have the potent to making you profit compared to that which comes  directly out of your own self-made analytical work.
Well, we shouldn't rely too much on the signals given by others. Or in other words, we should not continuously rely on other people's analyses. But we must start learning to make our own analyses. But that doesn't mean we shouldn't compare our analyses with others. I personally sometimes combine the results of my analysis by looking at the results of other people's analyses. Because I realise that sometimes the information we get is not enough and we always need additional information from others. And if that doesn't make us lazy in making our own analyses then it can be done by sharing insights and analyses with others.  But addiction to signals from others should be avoided because it will only make us not independent. So I agree with what the OP said.