Quote from: Gaza13 on Today at 04:07:31 PM

Quote from: goaldigger on June 29, 2024, 08:22:07 PM

Losing in money is normal in trading because what we are doing here is we are trying to outsmart each other and trade against the market which is very volatile to deal with. If you are a trader, you have to equip yourself with the right knowledge so you can be more profitable and of course expect losses along the way. What we can do is to minimize the number of our losses and have a good and realistic target profit.

It is true that knowledge is very important for us to analyze the market to get what we expect, but sometimes many novice traders do not use indicators available on the exchange such as SL or TP. In my opinion, this method is quite good if we use it to minimize quite large losses in this case, and it's best not to be too greedy if we get profits from trading, even though they are small, but if we do it regularly the results will certainly be big too.

Hmm, that's quite true but In my opinion, not only because of lack of knowledge, but also experience can be a key factor in trading because knowledge only educates you on how to do it, while experience teaches you how to use your knowledge at the right time. Therefore, if someone is very smart and wise in terms of knowledge and does not have experience, then according to me, neither person is at a high level of risk from a trading point of view.

In trading, along with knowledge exploration, there should be an emphasis on experience because without experience, you have a much higher chance of losing. That is to say, like to become a successful trader you need to have 50% knowledge and 50% of experience. Everyone else has their own ideology, my perspective is based on experience, and I think it is impossible to trade without it.

DYOR!