Topic: 5 Tips for Trading from Beginner, For Beginners. (Read 634 times)
Experience comes with time and practice, whereas a newbie can improve other aspects of trading like his knowledge, willingness to stay consistent, dedication, learning from his mistakes, researching and analysing the market conditions.
5 Tips for Trading from a Beginner, For Beginners.
1. Check market sentiment
2. Set loss/profit (really important)
3. No emotions, only believe in your analysis.
4. Do not click any button yourself, a trade should over with a stop loss or take profit.
5. Never 100% on one trade, 20% amount with x3.
This is what I learnt in my 30 days of trading and so far, I am doing really good.
If any of you have some tips for me aswell, go ahead.
1. Check market sentiment
2. Set loss/profit (really important)
3. No emotions, only believe in your analysis.
4. Do not click any button yourself, a trade should over with a stop loss or take profit.
5. Never 100% on one trade, 20% amount with x3.
This is what I learnt in my 30 days of trading and so far, I am doing really good.
If any of you have some tips for me aswell, go ahead.
Those stated above were actually good to help the beginners from a beginners preference since the market compared to the market before seems to be hardly unpredictable as years passes by. That is why it is in need for a trader to gather necessary information that can help him choose a good coin that is worthy for investment and for trading purposes to ensure that you will be attaining the expected outcome you want which is earning a profit and to lessen the possibility of encountering loss in your trades.
In trading, there are too many things to consider before you will start, and the things that we must know first and it is prerequisite before engaging in trading. For example, a trading plan --is very important so that you will not mislead another and if you are a newbie in trading, you must gain too much experience so that you will know and learn from your mistake and possibly don't let it that it will happen again. The [DYOR] is very important in trading.
5 Tips for Trading from a Beginner, For Beginners.
1. Check market sentiment
2. Set loss/profit (really important)
3. No emotions, only believe in your analysis.
4. Do not click any button yourself, a trade should over with a stop loss or take profit.
5. Never 100% on one trade, 20% amount with x3.
This is what I learnt in my 30 days of trading and so far, I am doing really good.
If any of you have some tips for me aswell, go ahead.
1. Check market sentiment
2. Set loss/profit (really important)
3. No emotions, only believe in your analysis.
4. Do not click any button yourself, a trade should over with a stop loss or take profit.
5. Never 100% on one trade, 20% amount with x3.
This is what I learnt in my 30 days of trading and so far, I am doing really good.
If any of you have some tips for me aswell, go ahead.
Those stated above were actually good to help the beginners from a beginners preference since the market compared to the market before seems to be hardly unpredictable as years passes by. That is why it is in need for a trader to gather necessary information that can help him choose a good coin that is worthy for investment and for trading purposes to ensure that you will be attaining the expected outcome you want which is earning a profit and to lessen the possibility of encountering loss in your trades.
One thing i must add is that traders should also care about risk management because it is also important in trading. As i had just saw many trader they didn't know much about risk management in trading and lost their most of the money without aware themselves. I think this point should be taken note of.
Risk management comes with your control so I think it should be connected to no emotions listed by op. But it is so important to know how you take risks because if it's not for the risk, you really are going to have trouble risking your assets because you don't know how to manage them.Those traders that don't know much about risk management, it's either they really don't know it and they keep on trading or they're just a newbie that has started to trade so they're on any of those.
Anyways, I consider newbies are the victim of this, not just only they are too emotional but also of limited knowledge. And those listed tips that OP had, that something could help them but of course, that it need more patient and hard work. This went impossible if we just take this so easy instead of getting serious in dealing with the market sentiment.
5 Tips for Trading from a Beginner, For Beginners.
1. Check market sentiment
2. Set loss/profit (really important)
3. No emotions, only believe in your analysis.
4. Do not click any button yourself, a trade should over with a stop loss or take profit.
5. Never 100% on one trade, 20% amount with x3.
This is what I learnt in my 30 days of trading and so far, I am doing really good.
If any of you have some tips for me aswell, go ahead.
Do not forget to add that it is a long term deal and the short term results do not matter at all. I could make 20k in a single day if I am super lucky (which I won't) but that still doesn't change the fact that I can't make that in the long run.1. Check market sentiment
2. Set loss/profit (really important)
3. No emotions, only believe in your analysis.
4. Do not click any button yourself, a trade should over with a stop loss or take profit.
5. Never 100% on one trade, 20% amount with x3.
This is what I learnt in my 30 days of trading and so far, I am doing really good.
If any of you have some tips for me aswell, go ahead.
I learned this the hard way during 2017 peak times, I went way above my head and got too much into debt to keep my money in bitcoin, which I was super lucky eventually because I sold at near peak times of 2017 and didn't wait 2018 and managed to pay all my debts and had a bit left, not a whole lot, like 4-5 months' salary worth, still good but nothing major, but if I wanted just another month or two? That would be my doom, I would not only have any excess money but I would probably be in debt.
This is why it is not about how much you make, I made money, but it is about how long can you do it, and that is why short term doesn't matter.
Here are some important tips for newcomers to follow through and never run into losses. Newcomers must not be overly greedy, they must be patient, Understand the project and invest, Always need to know the updated news.
One thing i must add is that traders should also care about risk management because it is also important in trading. As i had just saw many trader they didn't know much about risk management in trading and lost their most of the money without aware themselves. I think this point should be taken note of.
Risk management comes with your control so I think it should be connected to no emotions listed by op. But it is so important to know how you take risks because if it's not for the risk, you really are going to have trouble risking your assets because you don't know how to manage them.Those traders that don't know much about risk management, it's either they really don't know it and they keep on trading or they're just a newbie that has started to trade so they're on any of those.
One thing i must add is that traders should also care about risk management because it is also important in trading. As i had just saw many trader they didn't know much about risk management in trading and lost their most of the money without aware themselves. I think this point should be taken note of.
To summarize everything, we need complete knowledge about trading before entering it. We couldn't be trading experts in the beginning yet we could adopt learnings through the resources that we could find online. We should also have a good mindset upon entering trading. Trade by skills and not by emotions and learn how to deal with the possible changes in the market.
Yes don't bring your emotion when you're trading because that's the reason why mostly end up losses after all of their efforts, such learning for how many days or months wherein just to have good win rate in trading field but the results are all negative because of being emotional,
That's why for me it's always good to start with demo account and keep it real when trading such how to spend those money and how to execute your strategy properly so that you can apply it when you're ready to trade..and i believe on that way you can control your emotions because you know exactly how the market really works and you know how to handle every situation just to protect your money.
That's why for me it's always good to start with demo account and keep it real when trading such how to spend those money and how to execute your strategy properly so that you can apply it when you're ready to trade..and i believe on that way you can control your emotions because you know exactly how the market really works and you know how to handle every situation just to protect your money.
5 Tips for Trading from a Beginner, For Beginners.
1. Check market sentiment
2. Set loss/profit (really important)
3. No emotions, only believe in your analysis.
4. Do not click any button yourself, a trade should over with a stop loss or take profit.
5. Never 100% on one trade, 20% amount with x3.
This is what I learnt in my 30 days of trading and so far, I am doing really good.
If any of you have some tips for me aswell, go ahead.
I am practicing trading starting with some of your advice, it is very suitable for beginners like me. But I don't know how to spot it yet 1] Check the market sentiment, is it a manifestation of the green signal in the 1h candles, and does it work throughout to place an immediate profit requirement? then or not? Is the sudden upside or downside structure appropriate for this transaction deployment process? 1. Check market sentiment
2. Set loss/profit (really important)
3. No emotions, only believe in your analysis.
4. Do not click any button yourself, a trade should over with a stop loss or take profit.
5. Never 100% on one trade, 20% amount with x3.
This is what I learnt in my 30 days of trading and so far, I am doing really good.
If any of you have some tips for me aswell, go ahead.
Do not trade 100% of your capital. Set a target ,3% daily or 8% weekly. Do not be greedy there is always an opportunity in the market. Always remember to do your own research before executing a trade .Don't allow your emotions to control you. The stop loss feature is always your friend ,make good use of it .
Nice tips, these are some good tips. I would also like to add some tips, there's no such things as 10% stop loss or any fixed target amount all stop loss and TP's will be based on your technical analysis and also remember to use risk and reward ratio It's important too.
Those tips aren't from any beginners because as far as I know, beginners aren't supposed to know any of that or at least doesn't have a good grasp of those tips. Yeah, R&R ratio is forgotten by many, if your ratio is just too bad, you might not want to waste your time on that or evaluate your position because some people just get in not knowing their paying more and getting rewarded less and not in terms of money but of their time.Perhaps it may seem that this information does not usually come from beginners, but maybe this is a reflection of OP’s determination and enthusiasm in learning about trading. Regardless of the case, these are some good tips that we should bear in mind.
I would like to add a tip, which is very important in trading from the very first day, which is patience and get rid of greed. Because patience works when no one is greedy about the profit so much. So, it would be better to take profit and just work on the right place as well as with having much patience in trading.
I have two additional things that might help you. First of all, don't forget to have a Trading System so you know when to enter and exit the market. As a result, you are not confused and not easily swayed by the market. So you have faith in yourself. The trading system you have must be complete, starting from analysis techniques, money and risk management. The second is disciplined and consistent, after having a trading system, you must be disciplined to run it. Trader failures generally occur because they do not comply with a predetermined trading system. Especially regarding the rules of market exit or cut loss. Most traders don't want to cut losses, as a result, losses pile up super swelling. The trader ends up with a margin call or the money runs out.
Op got the nice beginners guide.
The ones those who finding difficult to understand can listen to my suggestions.
As you are a beginner never start with large sum of investment.
For your first few trades start with small amount and understand the market first.
Then choose the best coin and cash out little profits.
Hope this helps every newbie.
The ones those who finding difficult to understand can listen to my suggestions.
As you are a beginner never start with large sum of investment.
For your first few trades start with small amount and understand the market first.
Then choose the best coin and cash out little profits.
Hope this helps every newbie.
Wow. Not bad. As long as your result is positive, why not?
Do you have the actual trades that you have done? Like putting it in excel? I suggested this because this will help you remember what you did correctly and what you have lacked in your losing trades.
Anyway, I hope you continue to profit with this market.
Agreed, starting off as a trader is all about consistency and keeping to your plan. The fact that you was persistent and made a rule book of your one is great.Do you have the actual trades that you have done? Like putting it in excel? I suggested this because this will help you remember what you did correctly and what you have lacked in your losing trades.
Anyway, I hope you continue to profit with this market.
One thing that I agree with @crwth is to make a Trades Sheet where you keep a record of all your trades, as that'll help you understand what works and what doesn't.
Nice tips, these are some good tips. I would also like to add some tips, there's no such things as 10% stop loss or any fixed target amount all stop loss and TP's will be based on your technical analysis and also remember to use risk and reward ratio It's important too.
Those tips aren't from any beginners because as far as I know, beginners aren't supposed to know any of that or at least doesn't have a good grasp of those tips. Yeah, R&R ratio is forgotten by many, if your ratio is just too bad, you might not want to waste your time on that or evaluate your position because some people just get in not knowing their paying more and getting rewarded less and not in terms of money but of their time. 
5 Tips for Trading from a Beginner, For Beginners.
1. Check market sentiment
2. Set loss/profit (really important)
3. No emotions, only believe in your analysis.
4. Do not click any button yourself, a trade should over with a stop loss or take profit.
5. Never 100% on one trade, 20% amount with x3.
This is what I learnt in my 30 days of trading and so far, I am doing really good.
If any of you have some tips for me aswell, go ahead.
Thank you for creating a good topic for us. Because I also continue to learn from the experiences of friends here. It's true that nothing is 100% but make 20% many times.1. Check market sentiment
2. Set loss/profit (really important)
3. No emotions, only believe in your analysis.
4. Do not click any button yourself, a trade should over with a stop loss or take profit.
5. Never 100% on one trade, 20% amount with x3.
This is what I learnt in my 30 days of trading and so far, I am doing really good.
If any of you have some tips for me aswell, go ahead.
I like some points in the OP but will add a few crucial ones from my side.
- Don't trust in the social media hype or FUD
- Never put money in a coin you fear to hold for a week
Nice tips, these are some good tips. I would also like to add some tips, there's no such things as 10% stop loss or any fixed target amount all stop loss and TP's will be based on your technical analysis and also remember to use risk and reward ratio It's important too.
Jump to: