Topic: What should newbies do in trading? - page 4. (Read 1466 times)

OP lacks that confidence right now to actually trade on his own. It is quite obvious that the knowledge he has gotten so far from the videos he watched and books he read has not done enough justice to him. OP needs to learn alot to boost his confidence, it is not ideal for him to ignore trading with demo accounts, he still needs it to master his craft. Once he has that confidence, he would be able to manage his emotions to some extent.

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It is not quite easy to master the art of trading as a newbie, in the first few years of trading, losses are bound to occur and this is not a reason to want to quit, rather it is a time to learn from your mistakes and improve on your trading skills.  The money lost so far should be seen as the cost you have to pay in order to succeed as a trader.  This is why we always advice newbies and all traders to always trade with amounts they can afford to lose because anything can happen.

Am not that surprised, because this is what you get when listening to 3 or 4 videos from YouTube by most influencer, so after then, they will think that they are ready to trade, not knowing that it takes more than that to gain mastery in the craft.

If truly you really want an advice from me, bro I am going to tell you to stop and go for knowledge first, that money you have already wasted would have been best utilized in acquiring knowledge, than jumping into the market because one or two YouTube influencer told you how he makes millions a day, and because of that you thought it easy, so I suggest you stop trading, and go for knowledge, don't come back till you have learned and gain mastery.

It all depends on the coach and trader that is educatimg a newbie so that they can be knowledgeable about trading and have some skills.
We need to be wise and keep doing something that will profit us as traders whether ww are newbies or a long time trader.
The goal is to make money from the trading and the only waybwe could go about that is to make sure we need learning and advancing our arsenals so we can keep making earnings from trading as we keep getting more information to keep trading.

It's not that easy to become an expert, especially if you are a beginner and only depend on other people's predictions, it won't help you to understand how to become an expert trader. Everything can be done gradually and you have to study it well. It takes a lot of experience to understand how crypto works. Don't be too influenced by other people's analysis, you don't need to rely on people who are said to be professionals but are not clear about their knowledge. Learn to analyze yourself and do it well, then you will find the rhythm.

The reality is that there are way too many people who see what others do, and they try to replicate it and they end up making a loss. If you do not have the knowledge and the experience of a veteran trader, then you can't make a profit like a veteran trader, but newbies see what they did, and try to do the same, at the wrong time, which results with a loss.

I buy X at 100, and sell at 150, and make a 50%, a newbie sees this, buys at 150 to sell at 225 but it drops to 120 because it already peaked, and then they wonder what they did wrong. This is why we should be considering the situation as highly risky, we need to do something much better and easier. This way we could make more money if we learn to be a better trader, before we start to trade.

Here you will get lots of ideas but most of the ideas will be different so you won't be able to work with all the ideas. So first you need to increase your practice knowledge then you can get the right idea. People try to make money from crypto in different ways such as trading, investing and holding are popular ways. But most of the new investors consider holding professionals at first but later they may become experts in other matters. More or less experience can be gained from crypto in exchange for everything in time and money.

I think that is the point of trading at demo accounts, you do not accept any success there as something awesome but you do at least accept failure there as terrible. When you are trying a new strategy at a demo place, you see if it will do good or bad, the point here is that if it does good you still need to test it with small amounts at real trading but if you do terrible at demo then you do not even try it at the real thing at all.

This usually works pretty well, because so far whenever I tried something at demo and failed, and if I insisted and tried at real trading then I usually fail there too. So, you are not using demo to find good stuff, you are trying demo to weed out the bad ideas and 90%+ of the time this system works very well.

Trading crypto is not the same as trading buying and selling real goods, the process of becoming a crypto trader is long, first we have to understand especially about the crypto we want to trade, master market developments, be smart in analysis and have the ability to calculate where to start buying and selling.

Crypto trading needs real guidance and direction, by those who are experts in trading, it is important as a beginner to avoid real losses, in essence: learn to trade from experts, not on links on the internet and do it according to your needs, don't trade beyond your limits.

Newbie traders get encouraged by the other traders who earn a large amount of money and of course, if you are a beginner it is quite hard to understand where to start, because you don't have a guide so you must need to invest first with the knowledge, what are the fundamentals, what are the basics, strategies and techniques. If you are still quite afraid to make an investment paper trading is one of the best training grounds but sometimes you are still quite confident because it's just not real money, no risk at all just knowledge, so some newbies willing to risk their small funds to test out their acquired skills if it's effective or not. Keep learning trading is a continuous learning to lessen the risk and increase the profit gains.

Since you first started your trade with $120, you have lost $90, which means you only have $30 left. The coin you traded in may have bought the coin at a high price but should actually buy the coin to trade when the price of the coin is in the dip. If you don't want to lose your remaining money then you should refrain from trading. As per your post it seems that you have suffered loss so now you don't need to trade continuously. Trade with the amount of money you can afford to lose. We all may think that trading is actually an easy thing but in reality it is not, trading is actually very difficult and risky. If you want to do trading then you must first study the basics of trading and other things related to trading so that you become experienced in trading.

The more a person understands about trading, the better he will become at trading. A person who is skilled in trading has the highest chance of profiting from losses if he trades in any coin.

It Good that you did not give up despite losing 90 out of 120 i lot of people would have sold everything and conclude that they are no longer interested. Just noticed that most if this exchanges have academy that can put you through in what ever you want to learn the basics starts from there. And understanding enough is wrong because if you understand everything then you won't lose any money but as it is even professionals lose money so their are days that your analysis can fail you. Despite trading looking easy it is not easy at all. There is no way you won't lose money but I think their things you are missing out because you can not be losing money like that and since you have your emotions worked on. Then given up is pointless.

Exactly what I was saying if the measures of safety have been put in place then it will be difficult for to just lose 90 dollar. For just one trade if that how people lose money while trading. People would have avoided it. Loosing that amount of money is the person fault and if he wants to continue he should take responsibility for his actions. From yesterday the price was done its a perfect opportunity to buy then trade from their. Looks as if the trading was on a zero knowledge and that might be the reason for the lose. Any were he wants to learn is good but understanding is what is important. As a trader making sure you are on the right path is something that should drive you always.

Many people think that trading is more profitable but due to the possibility of some risk with it you have to face losses at times. If you are new to trading you should not give large amount. New side has very little experience about the market. Trading with high volume will lead to greed. In order to become a successful trader one must learn to overcome greed and control it.

All traders new to trading and veterans should follow the same strategy. You lost $90 out of $120 because of your mistake. It is always better to buy from the dip while trading. You may have bought from a market which results in a lot of losses if the market goes down further. If you can get enough knowledge about trading then that is good for you but watching videos from youtube will help you more if you can try yourself but always remember don't be greedy in trading platform if you are greedy. Then you will not be successful no matter how much experience you gain in the trading platform.

Learning could really be acquired or could really be that gained on actual experiences on which this is something that will really be that just depending on a certain individual on which we know that there are ones who would really be that mindful about those mistakes and errors on which they do learn from it and applying it into their next trades. Whereas, there are still those individuals who would really be that not mindful or simply
doesnt care about into their loses and would continue to trade despite of those errors and not minding on learning it. You would really be able to soon realize on the things on what you should or must do because you wont really be tending to make yourself that not caring just because you do still have the money.

Learning is really that something that there's no end line of it. This is why it would be always wise that whenever you do face up those difficulties or errors then it would be better that
you should always learn from it. Apply it into your next trades until the other.

It is not a must to ask people who have experience in trading. We can learn it from articles or videos. I also do this, I learn by myself. Nowadays, we have a lot of sources to improve our knowledge in trading. If we want to have a trial, we can use demo account. So, it is okay to learn ourselves if there are no experienced traders that we can trust around us.

Sure, we must be patient in learning knowledge about trading. It must take time and won't be so easy. Sometimes, we have some obstacles because of our busy activities in real life or we begin trading but get bad results. There is no easy way to succeed, we must deal with obstacles and challenges.

Demo account can be very helpful if we are still not brave to do real trading. But it is just an optional. There are some people who want to try on real trading. This is also okay as long as we use small money only.

I don't know if any trader would consistently lose money if he or she actually learned from previous mistakes. It's somewhat impossible for me to find them continuing to lose money on trades if they really learn, but greed will sometimes make it difficult for them to grow. Of course trading is not a get rich quick scheme, but many traders have that mindset especially when they are beginners.

Losses in trading are an inseparable part, but there are always strategies to minimize losses. Traders must avoid greed in each trading session, meaning there are times they have to take profit and times they have to exit with losses. But if trading isn't a good fit for them, then I agree long term investing in coins is potentially a wise choice.

Maybe in your case scenario, you should never stop since you have started learning trading. Then try to start with a small amount of trading first. Then the timeframe that you should use first is the 1 hour or 4 hour timeframe. Because if it's low there, it will be a bit difficult.

Or it's also possible that while you're just learning trading first, you only have to do a 1-day timeframe to continue your exploration of learning about trading. Don't give up; just continue to learn until you learn something new about it, and once you have it, then continue to learn more.

All what you’ve mentioned is not enough to certify yourself as a trader. If you’ve learn all this things and you’re sure that you can control them while trading, you’re about becoming a better trader which will eventually continue in that manner until you become better than yesterday and win more that you use to than before. No one is a perfect trader or being, you’ll eventually encounter losses not because you’re not good at trading but because you cannot be always right and the market can be tricky at you without knowing. Just make sure you don’t stop trading and know how to manage your risk while trading.

Keep yourself focus, use small leverage to minimize loss so that you can come back tomorrow to continue learning. As you continue in that manner, you’ll learn new things daily and become better as time goes on. When you stop, it means you’ve giving up and you can never understand the basis of trading. Just make sure you invest what you can afford to lose. Losing is constant in trading just like profit is also constant when you’ve mastered the art of trading.


Demo trading is basically for learning how to trade, it does not deal with emotions while emotions plays one of the vital role to become a good trader once you begin to trade using real account. You don’t trade when you’re in too much excitement and you don’t also trade when you’re angry. Only trade when you’re in your normal mood to be able to analyze the market using your fundamental and technical knowledge about the market. If you give up now, you’re at a dead end but since you haven’t yet; try and manage your risk to remain in the business of trading while allocating only money you can afford to lose into trading.

You mentioned you have already lost your value by trading and suffered a loss. But it's not that you don't know about trade but you have acquired knowledge about trade as much as you can and traded but you could not profit. In this case I think the amount of money you have left is the money you should try to gain knowledge about investing first rather than trading now and plan to invest in the future. Because if you invest your money and hold it, the chances of making profit from it are much higher than trading. Also you should do more research on the trade and try to be around more skilled people And you can start trading again with the amount of money you will get profit from the invested money.

Yes, by having a lot of theoretical knowledge about trading and having never tried trading, of course we cannot yet know to what extent we have mastered how to trade and the theory that we understand when trading will certainly have challenges that we have never experienced in theory, so we We have to think about how to solve it so that we don't experience losses in the trading that we do, but after we have experience in trading, of course we will be able to trade to be able to earn income in trading so that we have a profit in the trading that we do.