Topic: 5 Tips for Trading from Beginner, For Beginners. (Read 652 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.
Beginners should know everything regarding trading and the marketplace before trade anything. It is possible to lose a lot of money if beginner make a mistake. Customer service, learning material, and account and trade minimums should all be prioritised for new traders. It's crucial to figure out how much you want to invest and at what price, as well as how far you're ready to let a stock fall before selling. Using the correct sort of trade order can help you save money.
That's why when someone asks me what's the best way to learn crypto trading, I suggest them to open a demo account and start trading. I have been in this community for years and yet there is no firm advice or path I can suggest anyone following and actually, that's the beauty of the crypto space. No matter how old and experienced you get, when the market crashes you will panic and these things can't be learnt or taught.Sometimes I feel that being new to this volatile market actually helps because being fearless is the necessity of the current situation. If you can blend aggression with calculated risks, it works wonders.
Your 2nd point and 3rd point are the most important according to me because these two points made me suffer as well. In the start i used to trade on emotions rather than real facts and setting up profit/loss bar is most important as well.
I would strongly agree with your number 2 and number 4, stop loss and take profit is really important and yes the trade only stops when it hit stop loss or take profit, don't click any button. But I would like to disagree with number 5, yes don't trade 100% but I think according to the books I've read only 10% of your total money would be use every time you made a trade, but I think we can't follow that and use whatever amount we like.
Anyway this is one of the best tips I read for beginners.
Anyway this is one of the best tips I read for beginners.
The tips for trading are very effective it helps a lot to be a good trader the most important thing is to control the emotions and if the amount of loss is high then stop loss will be done so that there is no risk even if there is no profit. Professional traders usually make stop losses they have good knowledge about the market and can understand the difference between currencies they can easily master the trading strategies we have to move forward considering them as such.
Strategy theory like that is really needed before we trade, and after that when we make transactions, we must learn to control our emotions to obey the strategy we have planned. seems simple and easy, but when we do it, then we will understand the difficulty, and that's what we have to fix, which eliminates the psychological burden when trading 
The tips for trading are very effective it helps a lot to be a good trader the most important thing is to control the emotions and if the amount of loss is high then stop loss will be done so that there is no risk even if there is no profit. Professional traders usually make stop losses they have good knowledge about the market and can understand the difference between currencies they can easily master the trading strategies we have to move forward considering them as such.
It's true that nothing is 100% but make 20% many times.
For holders, there's 100% but for traders, 20% they make for the day trade that they did is so much more. That's already a lot and a good gain to be considered of.Knowing that day trading is hard and cannot easily be done to get that gain means that you're a good trader. But to remember that not all of the time you'll get to earn 20% and with other little percentages that you may consider like 5% or 10%. To make a consistent 20% gain from most of the time, it only means that you're already a professional trader.
Do not click any button yourself, a trade should over with a stop loss or take profit.
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.
These two were the mistakes I have experienced when I was beginner in crypto trading. When I was continuously watching market, out of over-confident, I made treads on my own by believing into market rebounce but I was not accurate. So, always opening trades with help of technical analysis will lead us into profits. Blindly opening trades will have only 10% chances to be profitable.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.
Risking only 5% to 10% of our capital in one trade and reserving the rest for other trading pairs will help us to end our day or month in profits. If we trade for all our capital in one pair or multiple pairs then we may get forced to miss out some future trades.
Beginners should know everything regarding trading and the marketplace before trade anything. It is possible to lose a lot of money if beginner make a mistake. Customer service, learning material, and account and trade minimums should all be prioritised for new traders. It's crucial to figure out how much you want to invest and at what price, as well as how far you're ready to let a stock fall before selling. Using the correct sort of trade order can help you save money.
These skills are very important while we do trading I personally feel that whenever we trade we can't control our emotions we think that it will go up because we are buying that coin but it starts going down so it's very important to control our emotions and set stop loss.
Previously the good and useful tips for traders. Trading is not easy but it is not difficult too if we can determine our own path. By analyzing the market we can know what coins are good and the right time to sell or buy coins. Therefore it is important for a trader to be able to analyze and understand the market well. We also have to have a strong mentality in accepting this up and down crypto market, lest when the market goes down we panic about our assets and end up making the mistake of selling them. It will only make us lose. The profit that we will get from trading, whether it's big or small, it all depends on us, so we really have to be able to control it well.
Thank you for these skills, this will always remind me. There is a friend next to me who has lost 30% of his funds after trading for 2 years. Now it is the process of returning to the capital. He is still in the market. I believe he also has trades. Experience, he told me: this market has a trading cycle, if I want to quickly acquire wealth, I should sell it at the right time. In previous transactions, my trading cycle is very short, and 2 cycles are my trading time the longest. Long time.
What should I think of him regarding the trading cycle? What are the simple plans?
What should I think of him regarding the trading cycle? What are the simple plans?
If you are beginner in crypto trading you follow these things to loss your money:
1: Never trade without stoploss.
2: Never use all amount in one trade or one coin.
3: Learn fast then invest in any coin.
4: before Investing in any coin must study about this coin.
5: Invest in top 10 coin for safest investmnt.
6: Take entry in parts not investmnt all amount in one time.
If you follow these point you play safe and earn maximum profit.
1: Never trade without stoploss.
2: Never use all amount in one trade or one coin.
3: Learn fast then invest in any coin.
4: before Investing in any coin must study about this coin.
5: Invest in top 10 coin for safest investmnt.
6: Take entry in parts not investmnt all amount in one time.
If you follow these point you play safe and earn maximum profit.
First of all welcome to the trading and after all, it is very difficult to learn and analyze the token first but it is very important to know about the coins and analyze them properly. For trading analyzing the token is the most important than anything.
I agree for beginners to avoid using large capital for trading, because the risk of losing money is very large. It's a shame we lost a lot of money
when we started learning to trade, if we use a small capital we can consider the losses we experience when trading, as the cost of learning to trade.
For beginners to be successful, takes a long time in my opinion. Can't judge for 30 days, because it's not easy being a successful trader. It must
be remembered that trading is not as easy as we imagine, there are many things that we must learn to become successful traders. I have been
trading crypto for more than 5 years, and until now I have never stopped learning. Especially other people's trading experience can be a valuable
lesson for us. So my advice is not to be too satisfied with the results of the trades that we do in 30 days, there are still many things that need
to be learned in trading.
It is hard to say that 30 days to conclude if we can use more money to trade because that will depend on how good our result is. If we can make a profit, especially make a big profit and many times but that does not mean, we can add more money to trade. If you think you can use bigger money to earn a bigger profit, you can try that but the risk will be bigger. Even if we can improve our skills better, we still need to learn more about trading because the market will always change.when we started learning to trade, if we use a small capital we can consider the losses we experience when trading, as the cost of learning to trade.
For beginners to be successful, takes a long time in my opinion. Can't judge for 30 days, because it's not easy being a successful trader. It must
be remembered that trading is not as easy as we imagine, there are many things that we must learn to become successful traders. I have been
trading crypto for more than 5 years, and until now I have never stopped learning. Especially other people's trading experience can be a valuable
lesson for us. So my advice is not to be too satisfied with the results of the trades that we do in 30 days, there are still many things that need
to be learned in trading.
It is true that the risk is very big if we trade using big money to generate big profits too. Because if the analysis is accurate and price movements
match our predictions, then it doesn't matter if we can get the results we want. The problem is that the crypto market is very volatile and difficult
to predict, so sometimes the results of our analysis are not accurate and we experience losses. It would be wiser to trade using small money and
we can collect profits through day trading. Indeed the profit we make is small, but if we collect the profits we get, the results can be big too,
but with a smaller risk.
This is really fantastic and simple which can be a tool for trading and analysing the market. Well as a new trader in the market, you should not be too amazed about your performance because it is normal to have this kind of result as a new trader due to your confidence in the market and less psychological phobia in trading.
When I started trading, I was quite amazed of my results just like you have done in showing us your result which is very appealing. After a while of my journey in trading, I started losing due to my understanding of the market or may I say it's due to reality and nature of trading. Trading is full of diverse exposure and experience about the market and this alone can make one to start losing because of the later fear of doing the wrong thing or placing the wrong bet.
You need to get a trading plan that will guide you from greed and also inappropriate trading style that is capable of causing inevitable regret. Read books that will enlightening you about how trading works and how you can survive the market trauma as time goes on. Don't base you assumption on your current result, alot can still be achieved with time.
When I started trading, I was quite amazed of my results just like you have done in showing us your result which is very appealing. After a while of my journey in trading, I started losing due to my understanding of the market or may I say it's due to reality and nature of trading. Trading is full of diverse exposure and experience about the market and this alone can make one to start losing because of the later fear of doing the wrong thing or placing the wrong bet.
You need to get a trading plan that will guide you from greed and also inappropriate trading style that is capable of causing inevitable regret. Read books that will enlightening you about how trading works and how you can survive the market trauma as time goes on. Don't base you assumption on your current result, alot can still be achieved with time.
I agree for beginners to avoid using large capital for trading, because the risk of losing money is very large. It's a shame we lost a lot of money
when we started learning to trade, if we use a small capital we can consider the losses we experience when trading, as the cost of learning to trade.
For beginners to be successful, takes a long time in my opinion. Can't judge for 30 days, because it's not easy being a successful trader. It must
be remembered that trading is not as easy as we imagine, there are many things that we must learn to become successful traders. I have been
trading crypto for more than 5 years, and until now I have never stopped learning. Especially other people's trading experience can be a valuable
lesson for us. So my advice is not to be too satisfied with the results of the trades that we do in 30 days, there are still many things that need
to be learned in trading.
It is hard to say that 30 days to conclude if we can use more money to trade because that will depend on how good our result is. If we can make a profit, especially make a big profit and many times but that does not mean, we can add more money to trade. If you think you can use bigger money to earn a bigger profit, you can try that but the risk will be bigger. Even if we can improve our skills better, we still need to learn more about trading because the market will always change.when we started learning to trade, if we use a small capital we can consider the losses we experience when trading, as the cost of learning to trade.
For beginners to be successful, takes a long time in my opinion. Can't judge for 30 days, because it's not easy being a successful trader. It must
be remembered that trading is not as easy as we imagine, there are many things that we must learn to become successful traders. I have been
trading crypto for more than 5 years, and until now I have never stopped learning. Especially other people's trading experience can be a valuable
lesson for us. So my advice is not to be too satisfied with the results of the trades that we do in 30 days, there are still many things that need
to be learned in trading.
It is true that the risk is very big if we trade using big money to generate big profits too. Because if the analysis is accurate and price movements
match our predictions, then it doesn't matter if we can get the results we want. The problem is that the crypto market is very volatile and difficult
to predict, so sometimes the results of our analysis are not accurate and we experience losses. It would be wiser to trade using small money and
we can collect profits through day trading. Indeed the profit we make is small, but if we collect the profits we get, the results can be big too,
but with a smaller risk.
I agree for beginners to avoid using large capital for trading, because the risk of losing money is very large. It's a shame we lost a lot of money
when we started learning to trade, if we use a small capital we can consider the losses we experience when trading, as the cost of learning to trade.
For beginners to be successful, takes a long time in my opinion. Can't judge for 30 days, because it's not easy being a successful trader. It must
be remembered that trading is not as easy as we imagine, there are many things that we must learn to become successful traders. I have been
trading crypto for more than 5 years, and until now I have never stopped learning. Especially other people's trading experience can be a valuable
lesson for us. So my advice is not to be too satisfied with the results of the trades that we do in 30 days, there are still many things that need
to be learned in trading.
It is hard to say that 30 days to conclude if we can use more money to trade because that will depend on how good our result is. If we can make a profit, especially make a big profit and many times but that does not mean, we can add more money to trade. If you think you can use bigger money to earn a bigger profit, you can try that but the risk will be bigger. Even if we can improve our skills better, we still need to learn more about trading because the market will always change.when we started learning to trade, if we use a small capital we can consider the losses we experience when trading, as the cost of learning to trade.
For beginners to be successful, takes a long time in my opinion. Can't judge for 30 days, because it's not easy being a successful trader. It must
be remembered that trading is not as easy as we imagine, there are many things that we must learn to become successful traders. I have been
trading crypto for more than 5 years, and until now I have never stopped learning. Especially other people's trading experience can be a valuable
lesson for us. So my advice is not to be too satisfied with the results of the trades that we do in 30 days, there are still many things that need
to be learned in trading.
I don’t think there is any rule that is more important than the other, no. It’s just like food and water, you cannot take one away from the other, because you need the both of them to live. That’s how it is in this case, you need all of them in your trading business so you can succeed in it.
Yes, you do need to start small, but what’s the need of starting small when you have no knowledge or skills on how to trade? You’re just going to keep losing those small amount of money until you have lost all of them. Losing your first trade doesn’t automatically mean that you have gained an experience that will make your second trade better. So you have to learn first before you start trading. And moreover there are demo trades these days.
I assume that before we trade, we learn some lessons and we need to practice for what we learned. If you can practice based on what you learn, you will see what you need to learn more to get better trade. Losing your first trade can give you experience and know what you should learn to be better. Maybe that will not give you the right clue or information, but you can know what you need to learn next. Using demo trades is a solution and prevents losing money and that can work too. Yes, you do need to start small, but what’s the need of starting small when you have no knowledge or skills on how to trade? You’re just going to keep losing those small amount of money until you have lost all of them. Losing your first trade doesn’t automatically mean that you have gained an experience that will make your second trade better. So you have to learn first before you start trading. And moreover there are demo trades these days.
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.
Based on my years of experience, that 30 days isn't enough in order to be called successful.
Do not use a large amount will be our concern, especially if we are beginners because that means our risk will become higher and if we do not have many skills or can not analyze the market, that will not take too long to lose the money. It is better to use small money while still learning and understanding how the lesson can help us trade. And if you feel that you can accept the risk and have more skills than before, you can add more money to trade. Learning trading will not stop, even if you can become a pro trader because the market itself will change day by day.
I don’t think there is any rule that is more important than the other, no. It’s just like food and water, you cannot take one away from the other, because you need the both of them to live. That’s how it is in this case, you need all of them in your trading business so you can succeed in it.Yes, you do need to start small, but what’s the need of starting small when you have no knowledge or skills on how to trade? You’re just going to keep losing those small amount of money until you have lost all of them. Losing your first trade doesn’t automatically mean that you have gained an experience that will make your second trade better. So you have to learn first before you start trading. And moreover there are demo trades these days.
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.
you have learned a lot in 30 days i think. i'm beginner in crypto trade for some issues i can't survive i mean i losses all of my money in less than a week btw i wouldn’t like to trade with large amount, 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.
ImThour you can add this point because a beginner shouldn’t take high risk for trade large amount which not affordable for him.
I agree for beginners to avoid using large capital for trading, because the risk of losing money is very large. It's a shame we lost a lot of money
when we started learning to trade, if we use a small capital we can consider the losses we experience when trading, as the cost of learning to trade.
For beginners to be successful, takes a long time in my opinion. Can't judge for 30 days, because it's not easy being a successful trader. It must
be remembered that trading is not as easy as we imagine, there are many things that we must learn to become successful traders. I have been
trading crypto for more than 5 years, and until now I have never stopped learning. Especially other people's trading experience can be a valuable
lesson for us. So my advice is not to be too satisfied with the results of the trades that we do in 30 days, there are still many things that need
to be learned 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.
Based on my years of experience, that 30 days isn't enough in order to be called successful. Maybe it's effective if you just have bounty coins or tokens came from airdrop, because you just don't earn that money from job or whatsoever. Learning to trade as a beginner, couldn't have a shortcuts, it need dedication and determination to achieve good results. Most probably 1-3 years will certainly give you enough skills.
I would like to congratulate OP if he really follows these and he has been around for just 30 days. These are of course basics and there are many other stuff that you should be careful about but it is still awesome that he managed to get all of this in just 30 days, I know people who trader for years and still have no idea what they are doing.
At the end of the day, what is important is to make profit by doing the right things, because if you make a profit purely from getting lucky then it means that you are not going to get lucky forever, but if you make a profit based on true stuff then we are talking about something a lot more sustainable.
It is not easy to keep making profit after profit for that long, but it is definitely something that everyone should follow without changing their ways (unless they made a mistake) just because they had a loss, keep following your rules even in a loss.
Thank you el_kaka, for your kind words. And yes, I started like a month ago now and doing really good. At the end of the day, what is important is to make profit by doing the right things, because if you make a profit purely from getting lucky then it means that you are not going to get lucky forever, but if you make a profit based on true stuff then we are talking about something a lot more sustainable.
It is not easy to keep making profit after profit for that long, but it is definitely something that everyone should follow without changing their ways (unless they made a mistake) just because they had a loss, keep following your rules even in a loss.
Also, I am trying to learn understanding the market sentiment and fundamentals, so i am really happy with my progress.
if you don't mind and it's not a huge task for you, keep sharing your trading stats like how you are doing each month and what new you have learned. I don't get enough time to trade actually because of my job and most of the threads are spam in the section, it feels good when someone actually shares their own record and learning with others.
Good observations and can be tried to practice trading. It is true that it takes self-analysis and also initiative for a trader to be able to get the expected profit. I am also still learning to trade and that will certainly help. In trading apart from good analysis it also takes extra patience in dealing with the ups and downs of the crypto market. Where if a trader can't control it it will be bad because he can rush into doing something and end up losing. Of course, it is hoped that this will not happen so you have to be more aware of the crypto market and don't forget to handle the market well as material for further analysis.
4. Do not click any button yourself, a trade should over with a stop loss or take profit.
I don't necessarily agree with this statement because if you are getting a coin well below the value you believe it should be trading, there is no point in wasting time and we must buy the tokens at market price. This might be suitable when the market is down, don't let your emotions trade for you, let your stop-loss trigger and if not, just wait for the right time to sell the coins.5. Never 100% on one trade, 20% amount with x3.
Again, not something I agree with. As a trader, we must not put more than 2-5% of our capital within a single trade because there need to be some funds in your wallet in case things go bullish after you buy some coins and your trading shouldn't be halted because you invested too much into a single coin.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.
you have learned a lot in 30 days i think. i'm beginner in crypto trade for some issues i can't survive i mean i losses all of my money in less than a week btw i wouldn’t like to trade with large amount, 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.
ImThour you can add this point because a beginner shouldn’t take high risk for trade large amount which not affordable for him.
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.
you have learned a lot in 30 days i think. i'm beginner in crypto trade for some issues i can't survive i mean i losses all of my money in less than a week btw i wouldn’t like to trade with large amount, 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.
ImThour you can add this point because a beginner shouldn’t take high risk for trade large amount which not affordable for him.
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eXch.cx - Automatic crypto Swap Exchange.
4. Do not click any button yourself, a trade should over with a stop loss or take profit.
Don't you think it's a bit early to start giving trading advices especially as you're new to it? Don't feel attacked but in my opinion, 30days or even few months are not enough time. What can the market teach you within those few days, that's why I'm not surprised your advice isn't entirely new to the community excluding this part highlighted above and from reading the thread it seems others are having same issue with that part of your post.
Without any prior knowledge why you including that, I'll say it was as a precaution measure to ensure you stick to your trading plan by not selling too early or late. While sticking ti your trading plans is highly emphasized in, I won't mind giving recommendations if adjusting your trades to best suit the market.
Let assume you were on a trade that you were to sell anytime soon but unfortunately the bear kicks in, I don't see any reason why you shouldn't adjust your plan and trying waiting on the market to get into some profit before you close your trade provided from your observations of the market, it'll just be a short bearish period.
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.
All I can say is to follow these tips seriously and everything went so well. 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.
Being a trader is just like molding ourselves into better and well-equipped person. It can't be done for just a single day for sure but it needs constant practice and also being open to suggestions and criticism. And having all of these tips helps us to make the right decision and creating a positive mindset.
But I want to emphasize the #3 as this is very hard to master, more often not.
for point 3 I think that will be the biggest challenge in these steps. I think 30 days is not enough time to be able to control emotions, although in this case it will be different for each person. To control our emotions requires a process, it even requires problems to be faced so that we have experience
Yeah right, the 30 days period is not enough sample to judge one's control over emotions and their reaction under tough times. There are traders who held strong for years but when the market collapsed like it did last year, even the best and most robust traders panicked and sold their coins fearing a complete shutdown of the market.Trading in the initial days is similar to gambling, it gives a feeling of security and people start feeling they have cracked an easy money-making method only to fall hard on their back once they have lost during a trade. I am not saying the tips shared in the OP are bad, not at all. But 30 days is just too small of a time period to judge yourself and giving out tips to others reflects overconfidence, although I appreciate people sharing their knowledge and experience.
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.
It's a good tip and it's very common but it's also hard to implement into yourself, I have been there once but still, I can't execute all of them well.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 can't be done shortly or as fast but this can become habitual once if we want to.
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.
It's a good tip and it's very common but it's also hard to implement into yourself, I have been there once but still, I can't execute all of them well.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.
Can I add something?
6. Trading Plan.
We should always stick to our trading plan what matters will happen. Because all you have stated above will be followed once we have a trading plan. It's also very important in trading to avoid mislead and that can be distracted by other's opinions.
5. Never 100% on one trade, 20% amount with x3.
Good list. Number 5 is also important, some traders are intended to go all-in always. They don't know how to preserve their capital.20% is already huge for me, most of the time when I do trades, I always doing 5%-10% or if the trade went well, sometimes I am adding some on that 10%.
So, capital is the most important in trading, the longer you stay in trading the more profits you can earn as long as you protect and preserve your capital.
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.
Dealing on emotions should be focused through your motivations, don't easily give while there's chance to become successful. My tips for you to add is be updated on the coin community that you belong, don't miss all good and bad news because that's your guide when to exit and have another entrance for other potential coins to trade on trusted exchange you are using.
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.
Really appreciate you. Add few more points like, Choose the best coins that are being in the market with high trading volumes, Never make any attempt (buy or sell) when the market is manipulated, everyday update yourself on the coin you invested to trade (news on the coin), always go for coins that are cheap but best in the market, just shift between 3 best coins when one trade closes and always maintain patience. Patience is the key to success in trading.
Patience really the best tool that you need to equip yourself while working with your opportunities. Most of the time those who really can wait are the big gainers inside this market.
Keep your composure and never to stop learning, even you fail try to move forward and let the lesson be used as good stepping stone to push forward.
~
Well emotion is just simply hard to control. I prefer to phrase it that I should not "act according to my emotion", because it is already part of our way of thinking regardless of how rational one can be.And by the way that became my pitfall trap back when I was day 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.
Really appreciate you. Add few more points like, Choose the best coins that are being in the market with high trading volumes, Never make any attempt (buy or sell) when the market is manipulated, everyday update yourself on the coin you invested to trade (news on the coin), always go for coins that are cheap but best in the market, just shift between 3 best coins when one trade closes and always maintain patience. Patience is the key to success in trading.
For beginners 5 tips will help a lot in business but controlling one's emotions is always effective in avoiding risk. No one can trade without risk as long as there is risk for the business success is not possible without control of emotions it is much easier to start an online business that is a risky investment and does not have to spend money. If you are a person who has always wanted to start an online business you have no idea which business to start but you will lose everything so you have to learn first.
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.
All of these things are very important but would like to focus on the bolded one. It is just all about how to make TA, spending more time to analyze the market situation is very important before thinking about buying a certain coin. 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.
There is one tip to give, "YOU NEED TO TRUST YOUR SELF". If we carry this thing, we are motivated to make a decision clearly and effectively. Though it can't be a warrant that we are safe for possible losses, at least we are confident enough of what we did.
I would like to congratulate OP if he really follows these and he has been around for just 30 days. These are of course basics and there are many other stuff that you should be careful about but it is still awesome that he managed to get all of this in just 30 days, I know people who trader for years and still have no idea what they are doing.
At the end of the day, what is important is to make profit by doing the right things, because if you make a profit purely from getting lucky then it means that you are not going to get lucky forever, but if you make a profit based on true stuff then we are talking about something a lot more sustainable.
It is not easy to keep making profit after profit for that long, but it is definitely something that everyone should follow without changing their ways (unless they made a mistake) just because they had a loss, keep following your rules even in a loss.
Thank you el_kaka, for your kind words. And yes, I started like a month ago now and doing really good. At the end of the day, what is important is to make profit by doing the right things, because if you make a profit purely from getting lucky then it means that you are not going to get lucky forever, but if you make a profit based on true stuff then we are talking about something a lot more sustainable.
It is not easy to keep making profit after profit for that long, but it is definitely something that everyone should follow without changing their ways (unless they made a mistake) just because they had a loss, keep following your rules even in a loss.
Also, I am trying to learn understanding the market sentiment and fundamentals, so i am really happy with my progress.
5 Tips for Trading from a Beginner, For Beginners.
1. Check market sentiment
2. Set loss/profit (really important)
First 2 basic that we must understand and do if we want to make first base in trading.1. Check market sentiment
2. Set loss/profit (really important)
Quote
3. No emotions, only believe in your analysis.
This is the most important that we are all be knowledgeable in Analysis though this is really hard to understand.Quote
4. Do not click any button yourself, a trade should over with a stop loss or take profit.
Indeed , Loss is the most thing we must anticipate next is profit.Quote
5. Never 100% on one trade, 20% amount with x3.
That is greediness , looking for 100-500% increase from their capital.i think even 10% is enough for a day than seeking for high but will took you months before gaining.
I would like to congratulate OP if he really follows these and he has been around for just 30 days. These are of course basics and there are many other stuff that you should be careful about but it is still awesome that he managed to get all of this in just 30 days, I know people who trader for years and still have no idea what they are doing.
At the end of the day, what is important is to make profit by doing the right things, because if you make a profit purely from getting lucky then it means that you are not going to get lucky forever, but if you make a profit based on true stuff then we are talking about something a lot more sustainable.
It is not easy to keep making profit after profit for that long, but it is definitely something that everyone should follow without changing their ways (unless they made a mistake) just because they had a loss, keep following your rules even in a loss.
At the end of the day, what is important is to make profit by doing the right things, because if you make a profit purely from getting lucky then it means that you are not going to get lucky forever, but if you make a profit based on true stuff then we are talking about something a lot more sustainable.
It is not easy to keep making profit after profit for that long, but it is definitely something that everyone should follow without changing their ways (unless they made a mistake) just because they had a loss, keep following your rules even in a loss.
for point 3 I think that will be the biggest challenge in these steps. I think 30 days is not enough time to be able to control emotions, although in this case it will be different for each person. To control our emotions requires a process, it even requires problems to be faced so that we have experience
You're right, and I certainly felt it during my early days in trading. But you know what? I don't think that I was fully controlling my emotions because as a human being, it was found to be normal and it will come out anytime. The only thing I did is to think twice before we make a decision. I know this is a huge challenge not only for the beginners but for all of us but don't let this thing become a reason for our failure instead, make this as a foundation to grow and a sort of motivation on how to handle the stress in the market.
When you have more failure experiences, there will be more valuable suggestions for sharing. If you have not experienced the baptism of the storm, you will not know the cruelty of the market and the test to you.
Now in the case of profit, you will feel that it is simple to follow the above principles, but in the case of loss, it may not be easy to do.
Now in the case of profit, you will feel that it is simple to follow the above principles, but in the case of loss, it may not be easy to do.
for point 3 I think that will be the biggest challenge in these steps. I think 30 days is not enough time to be able to control emotions, although in this case it will be different for each person. To control our emotions requires a process, it even requires problems to be faced so that we have experience
Its good to read some advices in trading even if Im not a newbie on that field. As I am forgetting some of those like managing emotions, hastily clicking when market goes on the opposite way to my trade.
Beginners should always remember those things as we tend to forget those reminders. A certain stop loss is very significant in every trade and also setting profit goal is indeed important, too.
Beginners should always remember those things as we tend to forget those reminders. A certain stop loss is very significant in every trade and also setting profit goal is indeed important, too.
Well done. You should also add that don't try as quick as they can leveraging. It's one of the riskiest trade that they can ever do. If they are planning to do that.
They should at least do more research how they can trade through it because they're likely to lose more than to earn without knowing it wholly.
They should at least do more research how they can trade through it because they're likely to lose more than to earn without knowing it wholly.
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.
Good to hear OP you succeed this way. Suggestions are very well and we know that. But when luck does not favor then it's quite complicated to follow and that's how we lose in trading. Especially for me, it's hard to make a profit from trading. When I am not in the trading market play well as my assumptions. But when start trading then the market goes against my assumptions. That's a big deal for me and I am failed to manage that. That's why someone's I just stay away from trading. My overall portfolio is 10X down (approx). It's hard to accept, but still struggling, hope some days I could control my emotions.
Nice every trader needs to have this principal knowledge you have learned well in 30 days but it is important to keep on learning as you trade, keep learning more trading techniques even your daily trading activities are also your learning tools.
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.
That’s very good, and you’re doing it the right way. Some newbies would usually make the mistake number five you have mentioned; doing a hundred percent on one trade. Twenty percent (20%) is good, you can as well go below that number to like 5%, and 10%.And then stop loss is very important.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.
Even after you have decided to trade with a small amount of your trading money, you also have to be careful with that small amount not to lose, that’s where you apply your risk management strategies so that you also don’t lose hundred percent that small amount if the market should go against you. And I also tell newbies that when your trade goes wrong constantly, then it’s time you take a break and re-learn what you have learnt, and look for ways that you’re doing it wrong.
Actually, there may be still some other strategies to be implemented for trading. But actually, those five are very common and to be done for us.
Other things may be about utilizing the news and also certain events going to be held by certain crypto. Sometimes, an important agenda or event with good news will also influence the coin price rate. So, we can utilize this to get another profit.
And of course, the basic thing for beginners is:
never only follow other people's strategy, coin choices, and also techniques. because everybody may have different styles. And following hype is also something not good as a beginning.
Other things may be about utilizing the news and also certain events going to be held by certain crypto. Sometimes, an important agenda or event with good news will also influence the coin price rate. So, we can utilize this to get another profit.
And of course, the basic thing for beginners is:
never only follow other people's strategy, coin choices, and also techniques. because everybody may have different styles. And following hype is also something not good as a beginning.
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.
Let me score the above in tandem with what I believe...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.
1. ✔️
2. ✔️
3. ✔️
4. ❌
5. ✔️
Number 4 is the only one I totally disagree with. You don't have to watch your stoploss hit once you observe the fastness of the drop as it breaks whatever support you've in check for it. Just cut your loss and run. After all, it's said that "He who fights and runs away, lives to fight another day. However, your 30—day experience isn't whollistic enough to come to conclusion that those things you listed are the surest focal points in trading. There are a whole lot of others which are also as subjective as those listed above.
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.
Point 1. I completely agreed with you on that point, market sentiment will surely minimize losses, in a bearish sentiment always short trades especially in a trending market to be on a safer side this is also applicable in bullish sentiment.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 alway ensured that I placed a stop loss based on the amount of money I can afford to lose per trade while aiming for high profit and strictly followed my analysis from a higher timeframe to a lower time timeframe where I place my trade
My emotion is always checked without any sentiment or fear once I am convinced on a trade I click on buy or sell.
Thanks for the tips, I do employ some of them in my practice trading although I am having a hard time doing number 3 because I am an emotional person although it hasn't interfere that much with my practice trading although I don't I would benefit if I learn how to master my emotions right now that there's no money lost yet.
5 Tips for Trading from a Beginner, For Beginners.
4. Do not click any button yourself, a trade should over with a stop loss or take profit.
4. Do not click any button yourself, a trade should over with a stop loss or take profit.
Haha watch this point, very important. How can you say no clicking of button especially when you want to exit. With your 30 days experience which is still very young, you will get to understand your strategy better and see that at some point you need to exit or "run away" from an ongoing order that you sure was a wrong step you have taken. At those wrong orders, you don't need to wait until it hits your SL, the professional thing to do is to use your button, exiting the market when you think your SL will be hit is better than allowing a total loss.
2. Set loss/profit (really important)
I want to know what percentage of the profit and loss you set. 
It is encouraging when you are seeing positive results from your hard work. We can tell ourselves that we did a good job and continue doing this. But knowing that not all the time we are in profit as the market keep changing, however, having some fate on ourselves could help it out.
And aside from that, we need to urge ourselves to keep studying the market trend and don't just be contented with what we got. Because continuous learning is very important in this field as this helps for better results.
And aside from that, we need to urge ourselves to keep studying the market trend and don't just be contented with what we got. Because continuous learning is very important in this field as this helps for better results.
Here are some of my addition to the list you have made :
6) Always invest what you afford to loose and don't stake your personal assets for crypto trading.
7) Before investing learn how the market works and have your research done for all the facts that could affect the price of your coins.
8)If price volatility makes your nervous sorry you are in the wrong place as here market could be 70-80% down and still holders have faith unlike your stock market.
9)The market is also full with shitcoins that you need to avoid and for that you must be aware and have knowledge of the market.
10) Always keep learning and gain experience and don't panic with loss
Rest best wishes to you man.
6) Always invest what you afford to loose and don't stake your personal assets for crypto trading.
7) Before investing learn how the market works and have your research done for all the facts that could affect the price of your coins.
8)If price volatility makes your nervous sorry you are in the wrong place as here market could be 70-80% down and still holders have faith unlike your stock market.
9)The market is also full with shitcoins that you need to avoid and for that you must be aware and have knowledge of the market.
10) Always keep learning and gain experience and don't panic with loss
Rest best wishes to you man.
I am also a beginner and my huge mistake is to be exposed to emotions and a great desire to fight back when you go into negative territory, but with such notions you fall even deeper into the bottom.
It is also a huge minus to trade on futures with a leverage of more than x7, for a beginner, the maximum leverage should be x3, no more, in rare cases, x5.
It is also a huge minus to trade on futures with a leverage of more than x7, for a beginner, the maximum leverage should be x3, no more, in rare cases, x5.
That is good trading strategy. I hope you also count in the formula of "Diversification". Never trade on single coin or commodity because doing so can put the investment at risk even if we have turned on the stop loss buttons. I mean though it would be marginal loss, but it will be "confirmed" loss if that specific coin is not doing great while you are trading it.
It's really great to see you are keeping the record of your trading profits and losses. Many times user do not track this and stays in "virtual" thoughts that he is in profits all the time just by looking at the green side of portfolio.
Also, for the long term trade, stop loss isn't necessary but it's always recommended.
Keep it up and you will the wealth rolling upwards all the time.
It's really great to see you are keeping the record of your trading profits and losses. Many times user do not track this and stays in "virtual" thoughts that he is in profits all the time just by looking at the green side of portfolio.
Also, for the long term trade, stop loss isn't necessary but it's always recommended.
Keep it up and you will the wealth rolling upwards all the time.
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.
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.
Congrats on getting your trading started. A lot of people have taken this road and only a few are successful because of the trading disciplines that a person has.
BTW, do you have your performance recorded? With your current PNL ratio? It's a great tip to remember what you have done correctly and what didn't.
Thank you, crwth.BTW, do you have your performance recorded? With your current PNL ratio? It's a great tip to remember what you have done correctly and what didn't.
My Performance Record:
Congrats on getting your trading started. A lot of people have taken this road and only a few are successful because of the trading disciplines that a person has.
BTW, do you have your performance recorded? With your current PNL ratio? It's a great tip to remember what you have done correctly and what didn't.
BTW, do you have your performance recorded? With your current PNL ratio? It's a great tip to remember what you have done correctly and what didn't.
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.
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