What should newbies do in trading? - page 6.

wxa7115

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Quote from: Baki202 on December 17, 2023, 08:23:56 AM

Quote from: |MINER| on December 17, 2023, 02:39:35 AM

Very sad. Why did you invest so much money without knowing well about trading? Learning to trade takes a lot of time. It is not possible to conceptualize it so easily. You need to get more detailed idea about it. And don't be disappointed. You have to trade by understanding the market conditions. Once you understand the ups and downs of the market, you will never face losses again.

You see many people flaunting their wealth while you make a lot of money trading, and at the same time, there's a chance you could lose everything. Depending on how you approach trading, it will either make you happy or unhappy. It's not enough to just hear about trading and jump in without knowing the crucial steps to take; there are some steps that, if you follow, will be very helpful if you're just starting. Research is also always a good idea to do before starting something, and this is important. It will be quite simple to adapt to the market conditions once one has a thorough comprehension of them.

And the time needed to gain that comprehension is not short, new traders seem to think they can learn everything they need to know in a single day and this is not possible, trading like anything that is worth something in this life, requires that you make the commitment to learn it to heart.

And anyone that only has a superficial knowledge about trading will suffer because of it, and then they will wonder why they did not took the time to actually learn how to trade, but at that time there will be nothing they will be able to do to recover the money they have lost already.

Fuso.hp

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You started trading with $120, from here you lost $90, the remaining balance in your account is now $30. After reading this much I want to know, did you sell your coins at such a huge loss or do you still keep your coins in your wallet? If you have sold your coins then you must re-plan your trading but if you have not sold your coins then I think you should wait for some time because since you have lost a lot the market will recover a bit. I think unless you are doing futures trading, your coin should have halved in value to lose that much money. If you are doing future trading in the beginning then I would say it was a wrong decision for you because at first future trading is very risky for a trader and it is better not to engage in this future trading in the beginning. If you want to start trading anew, try to learn about trading again and get enough ideas.
After gaining enough knowledge you can start your trading journey again with spot trading.

Baki202

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Quote from: |MINER| on December 17, 2023, 02:39:35 AM

Very sad. Why did you invest so much money without knowing well about trading? Learning to trade takes a lot of time. It is not possible to conceptualize it so easily. You need to get more detailed idea about it. And don't be disappointed. You have to trade by understanding the market conditions. Once you understand the ups and downs of the market, you will never face losses again.

You see many people flaunting their wealth while you make a lot of money trading, and at the same time, there's a chance you could lose everything. Depending on how you approach trading, it will either make you happy or unhappy. It's not enough to just hear about trading and jump in without knowing the crucial steps to take; there are some steps that, if you follow, will be very helpful if you're just starting. Research is also always a good idea to do before starting something, and this is important. It will be quite simple to adapt to the market conditions once one has a thorough comprehension of them.

|MINER|

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Very sad. Why did you invest so much money without knowing well about trading? Learning to trade takes a lot of time. It is not possible to conceptualize it so easily. You need to get more detailed idea about it. And don't be disappointed. You have to trade by understanding the market conditions. Once you understand the ups and downs of the market, you will never face losses again.

tygeade

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Quote from: Questat on December 14, 2023, 10:19:12 AM

Quote from: Volimack on December 14, 2023, 09:40:07 AM

As far as I am concerned new traders should learn about what trading is all about. It is not an easy task to do if you are not experienced about trading. As experienced traders have made a profit by trading they have to put in a lot of effort. They also did not learn everything in one day so newbies should come to trading after knowing all the rules and tricks of the trade. Take time to learn trade evaluate the market based on your own experience do not rush.

We can't expect a newbie will have a good and profitable trade but rather expect more on losses. However, I could understand that situation because they are still learning, and losing is a part of it and the things that would help us to understand what trading is all about.
Indeed, there is an evaluation in the end, and this time we could decide if we are able to push through or stop. Perhaps, there are a lot of things that a newbie must learn and one of them is to accept losses and the 2nd thing is they must adopt the market volatility.

Losing is definitely a big part of learning process, you can't learn how to be a great trader without losing a bit first, many people becomes a good trader by first losing a lot of money, there is nothing else that you can do. No human on earth started trading, earned a lot of money at the start, and then just kept on making huge profits later on, that's not how it works, sure you may get lucky at the start a bit, but if you are not good eventually you will lose it.

In the end, we need to make sure that life is simple and we do not push it too hard and just learn trading by accepting the loss at the start, that's just how it could be. I know that we can't make much of it, but we need to make sure that things aren't that difficult neither, so keep on learning more and more to get better. The more you learn about trading and the more you trade to gain experience, the more profit you are going to start to make and eventually you will be a good trader that makes profit most of the time.

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Quote from: kojektea on December 14, 2023, 01:17:46 PM

in trading you don't only need analysis and too much learning, in my opinion it's not very accurate, there are many important points that we have to know before we open an order, often look at the latest news from your favorite coins and look at the market situation, this is just my personal experience but it's enough effective for me, besides that, don't play with emotions, start small

If we are newbies and we want to be making consistent profits from the market everytime, then we need to be ready to learn to trade in a profitable manner in the market. This is a stage where what we had learnt so far might not be working for us as traders.
It is very important for us to keep adjusting our trades so we can become experts with time. The great traders that we are seeing mow that had been making consistent profits from the market are those that were able to learn and keep learning when they started trading.

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Quote from: Kelvinid on December 15, 2023, 11:37:59 AM

I assume that you already have all the knowledge and are ready to make real trading but never think that you can't lose anymore, don't underestimate the market. However, in your position, the chances of making a profit are quite high, yet you need more experience to improve. One that we need as a trader is to overcome fear and urge ourselves to be strong and remain calm. We need to stay positive despite losses and never give a chance to have negative thoughts for this will be the reason that will bring you down instead of pushing up.

Maintaining a positive attitude when you lose money is not easy, but I think that this is not main quality that a trader needs to trade successfully. It is more important to remain calm than to be positive, and in general follow a number of rules to avoid large losses. And there will always be small losses, but the most important thing for a beginner is to understand whether he can make money in trading or not, so that it does not become a waste of time and money.

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Quote from: shisotsu on December 09, 2023, 07:21:31 AM

I'm also beginner in trading. I trade since this summer and I lost about $90 on $120 account. Recently I make $20 on last $34.
Throughout my journey in trading, I read Jack Schwager's book, watched many educational videos on YouTube, read many articles on the educational sections of CEX exchanges, and also talked with many traders. It seems to me that I understand enough about technical analysis, trading systems and trader psychology. But I'm at a dead end and don't know what to do next. Other traders advised me to just trade, but I think that over time I will lose my remaining $45, and demo trading does not bring such emotions and I don’t want to try hard when trading it

I assume that you already have all the knowledge and are ready to make real trading but never think that you can't lose anymore, don't underestimate the market. However, in your position, the chances of making a profit are quite high, yet you need more experience to improve. One that we need as a trader is to overcome fear and urge ourselves to be strong and remain calm. We need to stay positive despite losses and never give a chance to have negative thoughts for this will be the reason that will bring you down instead of pushing up.

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Quote from: shisotsu on December 09, 2023, 07:21:31 AM

I'm also beginner in trading. I trade since this summer and I lost about $90 on $120 account. Recently I make $20 on last $34.
Throughout my journey in trading, I read Jack Schwager's book, watched many educational videos on YouTube, read many articles on the educational sections of CEX exchanges, and also talked with many traders. It seems to me that I understand enough about technical analysis, trading systems and trader psychology. But I'm at a dead end and don't know what to do next. Other traders advised me to just trade, but I think that over time I will lose my remaining $45, and demo trading does not bring such emotions and I don’t want to try hard when trading it

It's good have enough knowledge in technical analysis therefore try to work on your trading strategy to ensure that it's a working strategy though there no holy grail in trading, however your trading strategy must have a good risk to reward ratio so you have to apply money management in your trading to become profitable in the long run and always plan your trade with a stop loss and take profit at the appropriate time thus avoid greediness in a bid to earn more profits, price movement are highly volatile a once profitable trade can reverse and ended up as a loss I have personally experience such scenario while trading thereafter blamed myself for not taking profit earlier and always trade with 2% to 5% of your total portfolio to minimize your risk.

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Quote from: kojektea on December 14, 2023, 01:17:46 PM

in trading you don't only need analysis and too much learning, in my opinion it's not very accurate, there are many important points that we have to know before we open an order, often look at the latest news from your favorite coins and look at the market situation, this is just my personal experience but it's enough effective for me, besides that, don't play with emotions, start small

You're referring to FA – Fundamental Analysis, to ascertain what news is going on with whatever coin/token one wants to invest in before buying. Unfortunately, many people buy before doing the actual analysis. The simple reason being that most of us buy on FOMO. Once we get a heck of a project that's hyped would do whatever ROI we rush to grab at it before going back to read the White papers. This type of hastiness often leads to regret and loss of investment because most of such projects end up as shitty as they can be with little or no value at all.

Again, we can't emphasize enough of what ills lack of emotional control can do to a trader. The mastery and control of one's emotions is half way a solution to a trading problem.

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Quote from: kojektea on December 14, 2023, 01:17:46 PM

in trading you don't only need analysis and too much learning, in my opinion it's not very accurate, there are many important points that we have to know before we open an order, often look at the latest news from your favorite coins and look at the market situation, this is just my personal experience but it's enough effective for me, besides that, don't play with emotions, start small

Starts small, it's good because there's a whole golden chance of earning big from the space. The market is vast, and we require every single piece of information for the purpose to transmit critical messages to the system. In trading, all you need is a consistent course that will help you succeed on your trading route. I realize it's never simple to adapt to a new system, but all one has to do is continuously trying to achieve the system's basic settings. Newcomers are inexperienced, and they require extensive improvement in all aspects of the industry in which they have found themselves.

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Quote from: shisotsu on December 09, 2023, 07:21:31 AM

I'm also beginner in trading. I trade since this summer and I lost about $90 on $120 account. Recently I make $20 on last $34.
Throughout my journey in trading, I read Jack Schwager's book, watched many educational videos on YouTube, read many articles on the educational sections of CEX exchanges, and also talked with many traders. It seems to me that I understand enough about technical analysis, trading systems and trader psychology. But I'm at a dead end and don't know what to do next. Other traders advised me to just trade, but I think that over time I will lose my remaining $45, and demo trading does not bring such emotions and I don’t want to try hard when trading it

Knowledge alone cannot guarantee trading profits, experience still matters the most. That's why even if you think that you know it all, you have understand a lot and you think trading will be now easier, but in reality trading is still hard without skills and strategies being mastered. You have to trade and experience losing at some point because that will motivate you to improve your trades, and never experience more profits than losses because for most of the newbies, losing is really inevitable.

This is why I don't encourage you to continue trading even if others will say just trade consistently. If you don't know what you're doing, it's better to just stop to avoid another losses and just study and learn more about trading before you decide to trade again.

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Quote from: Inwestour on December 13, 2023, 10:10:30 AM

The very first thing newbies should worry about is stopping losing money. Now those who will express their opinions will say that not a single beginner can do without losses, and this will be true, but I am talking about avoiding constant losses, and not losses at the start.

Most traders, even those who are not beginners, stop trading because they lose very large sums of money, they end up losing more than they earned, even after many years of their activity, so advice for beginners can be extremely simple, if you are learning, then learn from very small money, if even in this case you do not learn how to earn money, then there is no point in trading with big money.

Even veterans make a lot of mistakes and lose money, so it is not really all that shocking that newbies would lose money as well, that's just how it is and should always stay very relevant to the problem as well. I understand that many people are dealing with situations that would take some time, but that doesn't mean that they should be comfortable with it neither, it is not going to be all that easy. I get that it may feel like it is normal for newbies to lose, but the biggest fear I have for a newbie would be actually making a profit.

Why would I fear that a newbie would make a profit? Well simply because if they do, they start to think that's how it will go and they will go in even deeper and make bigger mistakes and their eventual loss would be bigger. That's why starting your crypto trading adventure with a loss is better, it makes you stand on your toes and in defence, that would be a lot better and it would give you a greater profit later on when you are ready.

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Quote from: mindrust on December 12, 2023, 03:45:00 PM

You should learn to control your emotions. It doesn’t matter if you are winning or losing. If you get carried away, if you get emotional because of your losing or winning position, you will make mistakes and your situation will get worse. Remember it can always get worse. And you can go below zero in some games. (Trading with margin) Reading books, articles are fine but you will learn the best if you make the trades yourself. And you will lose some money too eventually. No trader wins all of his bets. If you can’t stomach losing then quit trading immediately and find a real job.

I think both theory and practice are important when it comes to trading. Theory because it teaches you almost everything, what trading is, how it's done, which platforms are used for it, what are candlesticks, how you can use indicators, how to buy or sell assets, and everything else that one can think of can be learned by reading or researching. Now, once everything is learned by theory, it needs to be followed by practice so that it gets engraved in the mind forever. As they say, practice makes a man perfect.

So, you are right that one will need to experience the things to learn how it's done, however, one doesn't need to start trading with all their capital right away, that's what people with no knowledge do, but when you are knowledgeable, you go in with a small amount first, practice your knowledge, gain some experience, and then get in with more confidence when you are ready.

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in trading you don't only need analysis and too much learning, in my opinion it's not very accurate, there are many important points that we have to know before we open an order, often look at the latest news from your favorite coins and look at the market situation, this is just my personal experience but it's enough effective for me, besides that, don't play with emotions, start small

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Quote from: gunhell16 on December 14, 2023, 04:37:48 AM

It's not easy, as most newbies think it's easy. That's where you make mistakes, so in the end, the capital they use is easily lost because they think that the strategy they're using is right. Remember that no farmer plants rice seeds right away, but the first thing they do is till the land where they are going to plant the seeds. And when the seed is planted, it will take a few months to reap the harvest. The same is true in trading if you want to be a responsible trader.

In the beginning of every business, no matter what, mistakes are always made by new people and these mistakes play an important role in improving the experience. Despite knowledge, experience and research about all these things practically one has to get into trading sometimes. In trading, we should never think that we will always make a profit. Profit and loss are everywhere but risk is high in trading.

A farmer is doing everything under a certain strategy, but still he should not ignore the risk of loss, because sometimes the farmers get less profit or loss. So in trading we always have to improve our strategy, but this does not mean that we will not lose in trading, but often even experienced traders may face losses. The most important thing is that we have to maximize our rate of return.

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Quote from: Volimack on December 14, 2023, 09:40:07 AM

As far as I am concerned new traders should learn about what trading is all about. It is not an easy task to do if you are not experienced about trading. As experienced traders have made a profit by trading they have to put in a lot of effort. They also did not learn everything in one day so newbies should come to trading after knowing all the rules and tricks of the trade. Take time to learn trade evaluate the market based on your own experience do not rush.

We can't expect a newbie will have a good and profitable trade but rather expect more on losses. However, I could understand that situation because they are still learning, and losing is a part of it and the things that would help us to understand what trading is all about.
Indeed, there is an evaluation in the end, and this time we could decide if we are able to push through or stop. Perhaps, there are a lot of things that a newbie must learn and one of them is to accept losses and the 2nd thing is they must adopt the market volatility.

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As far as I am concerned new traders should learn about what trading is all about. It is not an easy task to do if you are not experienced about trading. As experienced traders have made a profit by trading they have to put in a lot of effort. They also did not learn everything in one day so newbies should come to trading after knowing all the rules and tricks of the trade. Take time to learn trade evaluate the market based on your own experience do not rush.

gunhell16

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In this era, many newbie priests are stubborn. They rush into things they shouldn't. Yes, I felt the same feeling, but they must fight themselves to overcome it. Newbies don't rush to get a profit here in crypto trading. Make an effort to study crypto trading first.

It's not easy, as most newbies think it's easy. That's where you make mistakes, so in the end, the capital they use is easily lost because they think that the strategy they're using is right. Remember that no farmer plants rice seeds right away, but the first thing they do is till the land where they are going to plant the seeds. And when the seed is planted, it will take a few months to reap the harvest. The same is true in trading if you want to be a responsible trader.

Mate2237

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Welcome to the trading world. As a newcomers on the trading industry I will tell you that you should read and practice with the practical works though you will loss money oh but you have to stay put and learn every day. And as you trading with those small amount of dollar is good and sometimes you should try and use demo accounts to practice more because practice make you better. Yeah, it is good you using reading articles in the CEX and some brokers can be a help to you. Just look for a good broker a and person will direct you to enter the trading.

Topic: What should newbies do in trading? - page 6. (Read 1466 times)