Quote from: justdimin on March 26, 2025, 11:20:34 AM

Quote from: Synchronice on March 25, 2025, 10:58:42 AM

Quote from: Stepstowealth on March 21, 2025, 11:47:34 PM

Most people, new traders and old are mostly talking about how difficult trading can be, the emphasis on the difficulty has discouraged some people from wanting to even consider becoming a trader.

Do you think non traders exaggerate about the difficulties in trading or it is hyped too much by people who are already traders? Or do you think it is not a hype, that trading is actually something very difficult?

Trading is difficult because is there any way to predict the price of the coin? I think that there isn't, there isn't a formula that tells you how to predict the price. I think that trading is mostly based on luck and not on skill. If it was a skill, then a simple math formulas would help. Chess is a skill based game and computer can always beat you because it can calculate all the possible moves and outcomes. If trading was a skill based game, then bots would bring the profit but that doesn't happen. I don't want to say that trading is purely based on luck, no, you really need some skill but mostly, it's based on luck. To my mind, becoming a successful trader is similar to becoming a successful gambler.

Well Technical Analysis is exactly for what you say it is. Trying to predict the price of a coin. Doesn't mean it works 100% of the time, but the aim is to try to predict it using the charts, sometimes you are right and sometimes you are wrong. Claim is that, if you do TA very well, then you should be able to make a decent amount of money from it.

Bots do bring in profit to some people, but they need to know about chart reading and TA to arrange the bot in a way that they would trade. I am once again not saying that this is a 100% foolproof method, of course you could lose money even if you know these very well, but you could lower the chance of losing money if you are good at it, because they do tell you a story and you could make some money with them if you know how to read them.

There's no such thing about precision when it comes to trading on which no matter how you do apply that technical analysis but still it wont really be giving out that 100% assurance on hitting up that right prediction on where prices would go, but somehow this will really be the most common thing that would really be used at the time that you do make trading because how you would be that able to deal up with volatile space if you arent that making using up these tools? Come to think that even if we do say on trying to make use of fundamentals will really be that suffice, on which we know that not all the time this market will really be having those news and sentiments on which means that most of the time you will be basing up on technical approach. Its really that important that you do really know up these things on which whether you do like it or not then you will definitely be making use of this rather than on making up some blind trades or having no any basis with this.