advice for a beginner - page 8. | Bitcointalksearch.org

Bushdark

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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.

Ndabagi01

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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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Quote from: Jating on March 21, 2024, 07:10:05 AM

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 guess you have the wrong mindset, as in any endeavor, specially trading in a market that is very volatile, you might end up that $100 in an instant. And you are lucky that you just lost $40 yet. And that is the real face of crypto trading, again, it's very volatile and there are many entities, like pump and dump group, (maybe you might have heard about them).

I guess you need more experienced, and maybe treat that $100 as most likely you will have to lose it just to get that needed experience. And that's why I think that crypto trading is not for everyone, as it might not be good for you mentally to see losses after losses. But in any case that you really dream of becoming big in trading, then learn from your mistakes and really learn technical analysis.

Losing will always be certain in trading, that even long time traders are still losing on their trades. Most particularly for beginner traders, expect that profiting from their trades is actually harder than it is. That is why never anticipate profits if you know you are still learning in the process, expect losses instead.

However, trading can always be learned in time. For now, focus on learning its technicalities and also learn from the experiences of early traders. And as I’ve always said, experience would always be the best teacher. So trade and lose, that’s fine with beginners.

MFahad

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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.

Hi.
You are not doing it in the right way. You were not supposed to start trading first and then try to learn whole doing that because the first step should be learning. You joined a month ago, and you have started trading already, which means that you didn't focus on learning at all because as far as I know, one cannot learn everything in a month and become able to make trades after it.

What you need to do is stop trading for now, keep watching videos and reading from resources around the internet to make your base strong, then get into technical stuff, and once you have learned everything, practice it with a demo account somewhere to see if you have learned everything and remember it all. If you see good progress, then you can start making trades again.

Good luck, and your English is fine, don't worry about that.

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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.

Staying away is like discouraging the person from even learning but you have advised them on steps to take before starting trading because you can not job does steps i see a lot of brilliant traders but all they need is the right knowledge even if they are few they are still ready to take what ever challenges it will come with. We are aware of the risk it comes with but anyone interested should be encouraged we all started from somewhere. And great profit comes with greater price and that is knowledge if they want to be good in trading they have to be serious. And losing money happens to all traders its just to know how to reduce your own risk of losing money. If they decide to even get advice from good traders it will help improving their trading skill. And that is one common thing with traders we always love to learn from one another. Its most about how serious and how patient you are because not always you will get what you want.

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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.

It is natural that you lose this process in your learning of the trading that is done, people take a long time to be skilled but you should not always want to quickly understand all because I myself until now still do not understand the previous trading pattern, this includes analysis, fundamentals, patterns and reading other charts.

And that is the risk of trading where you can lose in a short or long time but when you start with the investment way then it will be simpler to buy then HODL but more advice to BTC.

But because of your desire to trade then keep learning, let that $100 lose half of it but you will gain more insight because that's more important right?

Trading just don't be greedy just be more disciplined.

Mahanton

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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.

1. Learn the basics
2. Learn Technical and fundamental analysis
3. Check out other traders analysis that you could apply to yourself
4. Emotion control
5. Risk management
6. Greed control
7. Patience

Learning trading is never been that easy and its never been that not too short for you to be able to get grasps on.
Once you do rush up yourself on learning it then you would really be prone into tons of errors or mistakes. You should really be having that
different approach. Mistakes are the best teacher and instead on complaining then it would be better that you should look back and sees up
on where your trades do become wrong.

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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?

You are lucky that you already have not lost everything you invested. Most new traders do not start of trading with real money, they demo trade for some months before they have the confidence to actually trade the market.

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

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.

If you still feel lost even with the many youtube videos that you have watched maybe you should try and get a mentor, someone that you could always meet up with to discuss challenges and ask questions, or join a community of traders locally so you can always ask questions and feel among people who have the same interest like you. This forum can help but because this forum does not strictly discuss issues concerning trading alone, you may not learn as quickly as you will if you are part of the group of people whose everyday discussion is strictly on trading. This people may be on whatsapp or telegram or even an offline group.

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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.

It's okay, don't expect too much as you're starting. Use those losses as experiences and lessons that you'll extract to be a better trader soon.

Enjoy and trust the process, you're already there and it's just a matter of time until you recover it and that's why all you need to do is to accept everything that's happening to you as you start and don't expect something big yet.

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

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.

Two things, they DYOR and they are lucky and it's fine, your English isn't bad as mine. Cheesy

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

Like every day, I see some random coins get boosted. Some people earn from how they know that coin will go up.

I thought you were talking about the increase that has occurred in memecoins. Maybe they were lucky in following the hype. No one can predict for sure what will happen tomorrow, they just take advantage of the existing momentum. And this requires more insight to find big news and take advantage of something that is going viral, and this is a very risky thing.

In trading, never be greedy, because greed will only make you lose a lot. I think you have good progress regarding your income. Continue to keep your emotions in check and keep learning to recognize various indicators. If you can follow the indicators, you will be ready even for a bear market.

Tmoonz

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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.

Well the did has been done and I will assume that what happened to you should be a lesson because at some point experience happens to be the best teacher to those that are wiser. However, trading can be very complex even to old and experience ones and most times they have losses let alone a newbie, trading requires a lot of technical skills and analysis and of course you don't have to trust any you utube instructors or influencer most of them are being paid and there are a lot of edited work, alot has been said by other mates draw your plans on how best you have to go about this considering our response, that you think will be the best for you, I wish you the good luck.

YOSHIE

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

You need to know that in crypto trading, as far as I know, there are three methods, margin, future and spot. These three methods are not the same, of course you have to have someone who is an expert in crypto trading before doing it yourself, to avoid real and bigger losses.

YouTube or videos are not real guidelines for those of you who want to trade in the crypto market, the appearance of YouTube that you watch is mostly edited, meaning you only talk about real things and profits, If you follow the instructions in the video, it's clear that it's a fatal mistake for a beginner, you need guidance, it's a long process, it's not as easy as turning the palm of your hand.

The futures trading method is contractual in nature, which means you have the opportunity to be in a long or short position, while margin tends to be more leveraged or interface trading, while spot trading is almost the same as buying and selling investments, Spot is more real where you can buy when the price is low and sell when the crypto price is high. The point is that these three trading methods must have basic guidance, so that you understand how to trade further, don't just guide on YouTube.

|MINER|

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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.

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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.

Definitely you are a spot trader which is not as risky as future trading. If it is future trading, you will have lost all the $100 as using leverage will tempt you.

Just continue to learn about trading and use the amount of money that you can afford to lose to trade. The more you trade the higher the experience that you will have. You can be taught about trading but you can not be taught how to make money from it you will need to get that yourself. Be patient and do not trade with higher amount of money.

Quote from: mk4 on March 20, 2024, 09:11:45 PM

You literally just started a month ago. Most people don't earn from their trading for years. Trading is really not something you can expect to earn money early on.

Some people will trade and lose and continue to lose until they stop trading. Trading is very risky even than some people think.

Quote from: mk4 on March 20, 2024, 09:11:45 PM

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

Like every day, I see some random coins get boosted. Some people earn from how they know that coin will go up.

You trading doesn't mean you can't have a long-term portfolio. You can do both trading and investing(as most successful people in this space do).

If I should tell you the truth, I have been trading for over 3 years, holding is far better than trading.

Awaklara

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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.

hi, welcome to the forum. Do you trade futures? I don't think it's a good choice for beginners. Most beginners experience the same problem you are experiencing.
try to buy and hold first. choose the right assets. If you want to trade daily, especially for futures trading, there is a lot you have to learn and prepare.
As a start, to be honest, spot trading will be better for you. learn slowly, and don't be too hasty with profits. You have to know why you are losing.

Patrol69

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If you invested $100 and lost $40 so far, I'd say you've lost enough money. You got inspired by watching videos on YouTube and got inspired and invested $100 but you had no idea which coin would be right for you and which coin would be easy for you to invest. You did not select the right coin and did not understand the market due to which you are currently in a big loss. How a YouTuber makes YouTube videos and how he trades If you follow him directly, it is natural that you will make mistakes and make such mistakes that you will lose money. Now that you have enough money in losses I think you should wait for some time because if the market pumps up a bit you might recover some of your losses. If the loss is recovered then select a reliable coin in the market for trading then trade and hope you can make a pro

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Trading is very complex, and you just learnt few things in one month, and you have started trading. C'mon mate, things are not done like that, because you will end up in great loss. I hope that you don't think that trading is a get rich quick scheme, because this is what those influencers tell their followers, and decieve them to a very high risky business.

I would advice you to learn trading the proper way and not through YouTube, because when you are in the market, it is a different experience from the theory aspect of trading. Only use the amount of money that you can afford to lose to trade, so that you can have the experience. It is better that you invest and hodli as a newbie, because it is very easy and tension free unlike 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.

Advice? Start with a demo account first!!! Why did you go live trading immediately? As you've said, you are new to trading, and a month ago, so why did you rush to do trade immediately? Before it's too late, I advised you to keep the remaining capital you have and keep it and focus on learning more or gathering information about trading. The import thing is that if you want to execute an analysis or trade you think you will win, then practice first ina demo account; you need first the necessary preparation for the actual trade. What if you keep on livea demo account; you need first the necessary preparation for the actual trade. What if you keep on livea demo account; you need first the necessary preparation for the actual trade. What if you keep on live trading and one day you lose all your capital? Then you will quit and be discouraged? Think first before you desire to earn money in trading because trading is not for anyone who one day wants to trade to earn money. Trading is a very complex and serious thing, so you need to invest in knowledge and experience first.

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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 guess you have the wrong mindset, as in any endeavor, specially trading in a market that is very volatile, you might end up that $100 in an instant. And you are lucky that you just lost $40 yet. And that is the real face of crypto trading, again, it's very volatile and there are many entities, like pump and dump group, (maybe you might have heard about them).

I guess you need more experienced, and maybe treat that $100 as most likely you will have to lose it just to get that needed experience. And that's why I think that crypto trading is not for everyone, as it might not be good for you mentally to see losses after losses. But in any case that you really dream of becoming big in trading, then learn from your mistakes and really learn technical analysis.

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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 remember sometime ago when I first started trading, it wasn't really a pleasant experience as I watched my capital burn. Thank God I was able to manage my emotions so as not to hurt myself further because I invested quite a huge amount of money. After a while, I got to realise that having losses is normal for a trader, especially newbie traders. One major reason for losses is lack of proper knowledge and experience. I wish I knew the things I know now when I first started trading, maybe I might have been able to minimise the losses I incurred.

One month is quite too early to start feeling bad about your losses, this is the opportunity for you to learn from your experiences, gather knowledge from different sources and don't just rely on your YouTube videos. Don't stop learning, constant learning guarantees improvements and if you can get a reliable mentor, then good for you.

Topic: advice for a beginner - page 8. (Read 1321 times)