Bitcoin - How to Trade in The Perfect World! ... And how not to
When I started posting trading ideas and market overviews for a month ago, members of TradingView didn't write me, even when I provide them with working 1:10+ RR trades.
Several days ago, I noticed how flawed the ranking system at TradingView is. I can guarantee, huge majority of followers do not check check all the history and calls of their guru. You, as you are reading this, can probably confirm this. It would simply create too much work browsing through all and making up your mind, I can see that. So people flock to the most followed and the featured. We know herd mentality and group think provides comfort, to be "one of the many" who follows the guru; especially in times of uncertainty. Surely it must be good if so many people follow that guy ... right?
Not quite, as a huge factor that plays part in getting likes/followers is not the quality, but the placement the idea gets. Once you have a large enough following, it's basically impossible to lose and you can stop caring about posting quality. Because you will get views no matter what, all your posts are basically "pinned".
I noticed all the gurus just highlight their positive trades. And saying: It can go down, "but wait for 4 hour close". Less than 24 hours later new post: It can go up. so, both sides covered and maximum view exposure, farming likes.
Even better: "TOP authors" can use their status so they will never have to fear any competition. They can just double their likes and views with 1 simple trick, without much extra effort. How do they do it? They make a post like this:
"I am preparing for a trade.
If you want to see a full trade for [xyz], hit like to show your support. If enough people hit like, I will know that there is enough interest and share a full trade.
Thanks a lot for the support.
See you with the full trade."
So you get big exposure and likes for that post, and later for the "real" idea too. (if you already have a big following, that's how you make sure that nobody can compete with you).
That's just one example.
Just to be clear, I have nothing against the people who do this,
just wanted to point out that the ranking system in my eyes is kind of funny and flawed. So I pointed it out. I know it can get improved.
Maybe it will, maybe it won't, out of my control. I just know that I don't like it and lose motivation what I came here for, providing quality content and trades and getting an audience (at least given the chance to get an audience).
On first thought these are my ideas to fix or improve it:
- TOP authors can only receive 1 slot per page (on the idea page), not multiple entries.
- maybe other ranking tweaks ("up and coming authors")
- a ranking based on completely other metrics (based on trade performance (make authors open a paper trade? possible already), entry and exit accuracy...)
Alright enough with this. I hate writing so much text but now I already did. Maybe it was worth for something. Hopefully.
/////////////////////
The reason I wanted to make this post is because of this .."expert": Using buzzwords without definition helped him gain views the last days. Good luck following that guy's ideas.
So what's my idea?
Basically take everything he says, but do the exact opposite. I'm pretty sure you will be successful, and I'm not sarcastic.
I linked his idea below.
Just do the opposite.
You don't have to agree with me, but I'm pretty confident in what I say.
Alright thanks for reading, and good luck trading
Several days ago, I noticed how flawed the ranking system at TradingView is. I can guarantee, huge majority of followers do not check check all the history and calls of their guru. You, as you are reading this, can probably confirm this. It would simply create too much work browsing through all and making up your mind, I can see that. So people flock to the most followed and the featured. We know herd mentality and group think provides comfort, to be "one of the many" who follows the guru; especially in times of uncertainty. Surely it must be good if so many people follow that guy ... right?
Not quite, as a huge factor that plays part in getting likes/followers is not the quality, but the placement the idea gets. Once you have a large enough following, it's basically impossible to lose and you can stop caring about posting quality. Because you will get views no matter what, all your posts are basically "pinned".
I noticed all the gurus just highlight their positive trades. And saying: It can go down, "but wait for 4 hour close". Less than 24 hours later new post: It can go up. so, both sides covered and maximum view exposure, farming likes.
Even better: "TOP authors" can use their status so they will never have to fear any competition. They can just double their likes and views with 1 simple trick, without much extra effort. How do they do it? They make a post like this:
"I am preparing for a trade.
If you want to see a full trade for [xyz], hit like to show your support. If enough people hit like, I will know that there is enough interest and share a full trade.
Thanks a lot for the support.
See you with the full trade."
So you get big exposure and likes for that post, and later for the "real" idea too. (if you already have a big following, that's how you make sure that nobody can compete with you).
That's just one example.
Just to be clear, I have nothing against the people who do this,
just wanted to point out that the ranking system in my eyes is kind of funny and flawed. So I pointed it out. I know it can get improved.
Maybe it will, maybe it won't, out of my control. I just know that I don't like it and lose motivation what I came here for, providing quality content and trades and getting an audience (at least given the chance to get an audience).
On first thought these are my ideas to fix or improve it:
- TOP authors can only receive 1 slot per page (on the idea page), not multiple entries.
- maybe other ranking tweaks ("up and coming authors")
- a ranking based on completely other metrics (based on trade performance (make authors open a paper trade? possible already), entry and exit accuracy...)
Alright enough with this. I hate writing so much text but now I already did. Maybe it was worth for something. Hopefully.
/////////////////////
The reason I wanted to make this post is because of this .."expert": Using buzzwords without definition helped him gain views the last days. Good luck following that guy's ideas.
So what's my idea?
Basically take everything he says, but do the exact opposite. I'm pretty sure you will be successful, and I'm not sarcastic.
I linked his idea below.
Just do the opposite.
You don't have to agree with me, but I'm pretty confident in what I say.
Alright thanks for reading, and good luck trading
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