advice for a beginner - page 7. | Bitcointalksearch.org

Yamifoud

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Quote from: yassino on March 20, 2024, 08:43:01 PM

Hello, I'm a new trader. I started a month ago. I deposited $100, and now I've lost $40. Any advice for me? I watched some YouTube videos and found a technical analysis video which helped a lot. I started not losing as much. Sometimes I even earn. But even though, I feel so lost. Like every day, I see some random coins get boosted. Some people earn from how they know that coin will go up. I'm sorry for my bad English; it's not my first language.

That is expected OP as you can't expect instant profit in trading when you are a newbie.
Have consider yourselves as you are still learning which loses is a part of it but it will gradually change in the moment that you also improve. Losses signify something that you still have a lot of things to learn in trading and that also tells you that trading doesn't work that easy and instant money. A reason why it should be clearly understood before trading at least we are aware that this will likely happen on us as we are still in the process of learning.

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Quote from: yassino on March 20, 2024, 08:43:01 PM

Hello, I'm a new trader. I started a month ago. I deposited $100, and now I've lost $40. Any advice for me? I watched some YouTube videos and found a technical analysis video which helped a lot. I started not losing as much. Sometimes I even earn. But even though, I feel so lost. Like every day, I see some random coins get boosted. Some people earn from how they know that coin will go up. I'm sorry for my bad English; it's not my first language.

I don't know how long that you have been learning trading before you started trading with money, I think you just start trading and for me I think the money which you use to trade is much for a beginner. It is always good for beginners to start trading with small amount for them to observe the market and to learn very well with little amount in trading. As you progress and getting more understanding and experience you can decide to increase the money for trading a little bit, but never forget to trade with the amount you can not afford to lose.

The advice I'll give beginners in trading is to learn first and never be in rush to trade when their is no good understanding in handling trading . Insufficient knowledge of trading can make beginners to lose good amount of money in trading, learning all aspect in trading will really help to reduce the risk of losing money in trading.

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Quote from: yassino on March 20, 2024, 08:43:01 PM

Hello, I'm a new trader. I started a month ago. I deposited $100, and now I've lost $40. Any advice for me? I watched some YouTube videos and found a technical analysis video which helped a lot. I started not losing as much. Sometimes I even earn. But even though, I feel so lost. Like every day, I see some random coins get boosted. Some people earn from how they know that coin will go up. I'm sorry for my bad English; it's not my first language.

Trading isn’t easy or it can be considered as source for easy money. Unlike any other skills, you have to learn this with proper dedication and guidance. You need to start with the basics and step by step you need to go up. If you are a beginner then it’s advised to not use real money. Watch the markets movement and try trading with demo balance. Now regarding the calls for the coins, then follow big traders on Twitter. They many times post free calls for the coins which will boost. Hope this helps you dude.

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Quote from: Denamen on March 22, 2024, 10:31:46 AM

Welcome newbie. As a beginner, my advice is to start slow, do your research, and never invest more than you can afford to lose. Stay updated on market trends, diversify your portfolio, and above all, hodl through the highs and lows. And remember, don't be swayed by FOMO or FUD – keep a level head and always trust your own judgment (and hope you're lucky). Cool

Developing knowledge is a basic thing that must be done, as time goes by it will become broader because you also have to learn how to manage finances, risk management, mentality and so on. There's no need to rush to master it all, doing it slowly is also a good thing, because nothing is instant in this space.
You make an important point here regarding FOMO and FUD, yes that is something that must also be mastered. Because I also see that most of the beginners are also carried away by FOMO and it is not uncommon for them to be consumed by FUD. That's what we also have to learn about how we can avoid things like that, because it cannot be denied that it will have a bad impact if we get carried away with these two things.

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One of the mistakes that most people make as newbies is to invest all their money in one token or coin when they start trading which later becomes a big problem for them. Beginners should not open any trade with all money at once and avoid opening trades at once. Because there are times when losses should be protected without trading.

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as you said, you just started a month ago, this timeframe is quite short, better to learn more and seek a strategy that is suitable to your trading habit. Those traders you are looking at are the traders who are making a token sniping which means they are waiting to make a trade with the new release coins, newly paired coins etc. If you deal with the same thing of course you need to put additional effort to hunt those coins which has the potential to trade. Don't get carried away with the other's journey take your path and keep learning.

Denamen

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Welcome newbie. As a beginner, my advice is to start slow, do your research, and never invest more than you can afford to lose. Stay updated on market trends, diversify your portfolio, and above all, hodl through the highs and lows. And remember, don't be swayed by FOMO or FUD – keep a level head and always trust your own judgment (and hope you're lucky). Cool

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And stay away from futures if you don't understand them. Most people just like to play futures even though they don't understand all about it. And they lose their money quickly, even if they make some profit from the bull market the first time. It's like gambling; you lose money and want to take it back so badly that you keep playing and playing without noticing you are deep into the market trap.

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Quote from: |MINER| on March 21, 2024, 10:33:28 AM

If you are new then it is better to stay away from your trading. Because it is very risky to invest without acquiring sufficient knowledge about trading. Since your losses are more than your profits, it means that you don't have enough knowledge about trading. You need to master trading first and follow those who are very good at it. Learning trading is not easy but not impossible. If you work hard and give enough time to trading you will also become good at trading. First of all you need to be patient and have adequate understanding of market analysis. Also know when to hold and when to sell.

Most of the time those who start trading in new condition face loss. The reason of loss is after investing without understanding about trading in new condition. Profit from investment can be gained only when you can invest with good experience about trading. There are some people who find trading very easy but after investing lose money and walk away from trading.

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Quote from: yassino on March 20, 2024, 08:43:01 PM

Hello, I'm a new trader. I started a month ago. I deposited $100, and now I've lost $40. Any advice for me? I watched some YouTube videos and found a technical analysis video which helped a lot. I started not losing as much. Sometimes I even earn. But even though, I feel so lost. Like every day, I see some random coins get boosted. Some people earn from how they know that coin will go up. I'm sorry for my bad English; it's not my first language.

Everything can be learned like Technical analysis, chart reading, and choosing trading pairs as you go on. Don't get wondering why you lose because that is normal as we start. But don't get disappointed with how it results instead, make this a tool for improvement. Sooner, your $100 will be doubled or even more if you keep learning and growing. Just remember that nobody becomes successful without losses, we all have experienced such a thing. So I would tell you, mate, trading is not as easy as what these YT influencers are saying. In fact, you can tell it personally as you currently experience.

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Quote from: yassino on March 20, 2024, 08:43:01 PM

Hello, I'm a new trader. I started a month ago. I deposited $100, and now I've lost $40. Any advice for me? I watched some YouTube videos and found a technical analysis video which helped a lot. I started not losing as much. Sometimes I even earn. But even though, I feel so lost. Like every day, I see some random coins get boosted. Some people earn from how they know that coin will go up. I'm sorry for my bad English; it's not my first language.

Actually I will advise you work on your strategy and psychology as these are the very paramount pillars of trading, if you have got a good strategy and a healthy psychology aswell, you will realize that technical analysis is just but 20% of all you needed in the market because basically history repeats itself on the chat and that's enough information to build a strategy and then your psychology which should actually include some form of discipline so you be able to stick to that strategy and utilize it much more.

I think it will be much better if for now you take a break before you blow up your account, study a bit more and then work on your strategy, set rules and also have parameters for entry and exit then get your self disciplined enough to stick to the the set parameters and then get a risk management strategy so you know how much you risk at a time as that will impact your psychology a whole lot both when you are loosing and when you are winning so you should get that strategy and train your mind to accept every outcome and finally be disciplined enough to staying put to all these rules and you will see better results in the shortest time ever.

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Quote from: armanda90 on March 20, 2024, 10:55:43 PM

One important thing in trading don't be hurry up entry position to buy or sell, always looking how potential price of altcoin or bitcoin you want to invest have reaches most higher price or not. I am so sad heard with your loss around $40 depend your capital $100 but which one you trade in future or spot trading?
The ratio of percentage, OP loss almost reach 50% of his capital and its not really worth as investor for getting back recovery, you need to have more knowledge with trading and have second option after your coins investing drop drastically.
Use stop loss when your capital decreasing above 10% to minimalize with your more loss in trading, beside need make research before investing in some coins you must always ready with stop loss feature and get second opportunity to buy back in lower price recovering with loss.

If you are new to trading then you must gain enough knowledge about trading before trading. If you don't gain enough knowledge about trading then you will not get good success. So you need to acquire proper knowledge about trading. One thing you always have to keep in mind before trading is that you have to have a long term plan if you have a long term plan about trading then you will definitely get success by checking the market and trading. If you can make long-term investment in trading with patience, you can certainly get success through trading, but one thing you have to keep in mind is that trading often even big investors lose patience, so patience is very important.

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Quote from: yassino on March 20, 2024, 08:43:01 PM

Hello, I'm a new trader. I started a month ago. I deposited $100, and now I've lost $40. Any advice for me? I watched some YouTube videos and found a technical analysis video which helped a lot. I started not losing as much. Sometimes I even earn. But even though, I feel so lost. Like every day, I see some random coins get boosted. Some people earn from how they know that coin will go up. I'm sorry for my bad English; it's not my first language.

You have to understand that crypto trading is hard and not a get rich quick scheme, so it's not as easy as many people makes it to seem, so people enter it thinking that it's easy until they lose all their trading capital, before they realize that it's not what anybody can rush into. Aside from the YouTube tutorial that you're getting, it'll also help if you have an experienced mentor to guide you one on one, so you can gain from their trading knowledge. Overall there are some trading tips that you need to know as a beginner, don't be greedy and over trader, don't be an emotional trader and trade with the amount that you can afford to loose, as you're in the learning process.

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Trading must be done with patience and can't jump into crypto trading without setting any goals may upset your investment and may not prove to be cost effective and profitable. A well-planned goal helps you navigate crypto trading with caution. Before jumping into crypto trading you should have a clear objective in mind. The objective should not be driven by the fear of missing out or the desire to make a quick buck. A long term approach will give you better returns.

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The easy thing I want to tell newbies when trading is to not go all in at first. The longer you can stay, the more you can understand the market by yourself. It is better than just reading things on the internet because sometimes the best things are learned through experience.

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Quote from: yassino on March 20, 2024, 08:43:01 PM

Hello, I'm a new trader. I started a month ago. I deposited $100, and now I've lost $40. Any advice for me? I watched some YouTube videos and found a technical analysis video which helped a lot. I started not losing as much. Sometimes I even earn. But even though, I feel so lost. Like every day, I see some random coins get boosted. Some people earn from how they know that coin will go up. I'm sorry for my bad English; it's not my first language.

You can’t expect to win good profits if you are still new into trading. In fact, even experts in trading still lose in the process. So how much more if you trade with less experience and less acquired knowledge in trading. My advice to you is do not jump into trading but learn to DYOR and study analyzing the market first and seek for a demo account first. That way, you can prevent yourself from losing too much.

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Quote from: yassino on March 20, 2024, 08:43:01 PM

Hello, I'm a new trader. I started a month ago. I deposited $100, and now I've lost $40. Any advice for me? I watched some YouTube videos and found a technical analysis video which helped a lot. I started not losing as much. Sometimes I even earn. But even though, I feel so lost. Like every day, I see some random coins get boosted. Some people earn from how they know that coin will go up. I'm sorry for my bad English; it's not my first language.

That's good experience, are you day trading? The question on what crypto? tokens? Do you have bitcoin invested/hodl? I suggest to get some just for holding, well, just make a timing when to buy as current btc is not stable and still to high if you ask me.

- Go on famous or top 10 on cmc for holding.
- Experiment on some meme coins and other tokens for your trading, you can get 10x profit and its the same time you might loss them overnight, yes, it's risky, but that's how trading works, you just need to choose and manage your risk.

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Quote from: yassino on March 20, 2024, 08:43:01 PM

I deposited $100, and now I've lost $40. Any advice for me? I watched some YouTube videos and found a technical analysis video which helped a lot. I started not losing as much. Sometimes I even earn. But even though, I feel so lost. Like every day, I see some random coins get boosted. Some people earn from how they know that coin will go up. I'm sorry for my bad English; it's not my first language.

I think a lot of people lose money when they first start out, that is just how it is. Work towards making more later on and learning more and be better. I understand that you started recently and you went right into trading, considering the price didn't fall that much, not 40%, then I am guessing that you picked some terrible horrible tokens or coins, because nothing I am checking went down that much anytime in the recent years.

This should be the most important thing and I believe that we are going to do fine. I know that it is going to be fine, but the way it is going right now, I would assume that it is going to be something we could probably assume as normal and not really do anything marginal about it, it is just the way it is.

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Quote from: yassino on March 20, 2024, 08:43:01 PM

Hello, I'm a new trader. I started a month ago. I deposited $100, and now I've lost $40. Any advice for me? I watched some YouTube videos and found a technical analysis video which helped a lot. I started not losing as much. Sometimes I even earn. But even though, I feel so lost. Like every day, I see some random coins get boosted. Some people earn from how they know that coin will go up. I'm sorry for my bad English; it's not my first language.

You have to be patient as a trader and you will need to ask questions so that you could keep getting it right.
There are so many traders in the market that are just like you having the same results even after they have been in the market for so long.
Although you have not lost much and you should try to know that there are some loses that are okay because that is what is going to educate us more about the market and make us stay safe without becoming too eager to trade in the market even when we are not getting a tangible results.

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Quote from: yassino on March 20, 2024, 08:43:01 PM

Hello, I'm a new trader. I started a month ago. I deposited $100, and now I've lost $40. Any advice for me? I watched some YouTube videos and found a technical analysis video which helped a lot. I started not losing as much. Sometimes I even earn. But even though, I feel so lost. Like every day, I see some random coins get boosted. Some people earn from how they know that coin will go up. I'm sorry for my bad English; it's not my first language.

Trading is not a get-rich-quick scheme, and if it were, more people would have tried it instead of simply investing in some coins and holding on to them until they became profitable. Trading requires a lot of patience and learning, and if you can't put up with that, you should not start trading because it will have a negative impact on your psychological mindset and make you believe you can't do it. You've only recently started trading, so one month isn't a long time to be this good and profitable. Keep learning as you improve, and develop a strategy that works best for you to follow and stick to as you progress to be that profitable trader you’ve always wanted to be.

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