Someone met me and we were had a conversation on trade and he told me that he has used all he has been saving for trading and asked me if he can make something out of it and I asked him if he had any knowledge about it and he said no.
My question is can someone that doesn't have any knowledge about trading and how the system work can he or she trade and be profitable in it? Since at some points it has some compliments bof luck.
After some time of discussion, he has been told that it's just for them to choose on the candles sticks if it's up the they want to choose or the one going up just with this idea can they trade with such an idea.
so I wan to know if it's right for the person to begin trading?
It's crystal clear why people lose money in trading, and it's because of lack of knowledge, and they actually don't know that in trading, you get only what you deserve, if you are good in the craft, you will definitely be profitable, but if you are not or you have no knowledge about it, you will be getting liquidated time without numbers.
People have failed to understand that it's near impossible be profitable if you have no knowledge about trading, because you will definitely be making outrageous decisions, which to me , I called it anti trading and with that, in no distance time, you will get liquidated, so in other to be successful in trading, it's very important that you go for knowledge first, because that is the key, and so that you will know what is required of you on how to navigate your way in the market and come out profitable.
Before trading a beginner needs to have a basic understanding that trading and earning profit is not an easy thing. In your statement you clearly mean that people fail in trading due to lack of knowledge yes it is correct. For trading you need to educate yourself in previous trading education and gain enough experience about trading then start trading. If one does not know about trading and gets greedy and trades in the hope of making profit, then he can sometimes end up in loss. You will find that there are many new traders who trade by watching others or guessing but they have no experience in trading. Those who trade on the advice or guesswork of others have never succeeded.
If beginners want to start trading then they should start with a small amount of money so that even if they lose that money they don't incur huge losses. Market volatility and market analysis need to be correct before trading. Beginners need to have the mindset to deal with greed, emotion and stress when trading.