Topic: advice for a beginner (Read 2131 times)

First of all i thank you to share your openion. Trading is a journey of practice more you practice more you learn than you can earn. you can learn a lot form this youtube channel :- https://www.youtube.com/playlist?list=PLVu03Cfk0vfYKotm-mZh2sI_lZt1vk41q . Two type of trading strategy is best for execution in market one is smart money concept SMC and another is ICT Strategy.

I am also a newbie and I use proven indicators http  [Suspicious link removed], and everything works out much more confidently for me.

Their is a lot of importance using the demo account before using your actually money and I love the idea that the demo account is been put in place, their is going to be a lot of learning from that demo, and the confidence even when it comes to making risky decisions will be their you will fear nothing but when it comes to actually trading you have to fear so things. And this feature is actually for newbies and I know that their are people that will not really like to start with a demo account but it will only put them at a disadvantage, their more experience that you will be able to get from demo will just be like a safe zone for you. Because it's is just as if you are training with rubber bullets to reduce the chance of death when you train with actual bullets. My teacher also encouraged me to make sure I use my demo account every time before I started using my actually balance to start trading.

Take it slow and learn up the things that you will be able to learn up along the way. Just like on what you have said that people do rush up things because they are really that too impatient on trying to look for profits.
One of the reasons on why they do make themselves get derailed just because they had become that wanting to see fast profits and which will really be resulting into that non minding about application of any analysis on which we know that it isnt really that ideal on doing so. When you are just that new into this space then take those learnings to be put up on your brain on a slow pace manner and trying out to understand those detail and formulate out whether you will really be needing up to adjust or not. Just like on what you have said that building up or making yourself that experienced as you do go ahead will really be that recommended on doing so. If you are just that starting with zero knowledge with trading then its normal that you will be able to experience a series of loses on which on the moment that you have learned already then you could be able to lessen up those mistakes that you have committed in the past.

Actually its difficult and this is something a skill that you cant really be able to obtain or attain in a short period of time.Even if you do make yourself or called a veteran or experienced trader but there's no way that profitability will really be that being assured. This is why learning would really be that continous and something that needs to be adapted as much as possible. As for beginners and some tips then the best thing to be
put up in mind is that you shouldnt really be rushing up yourself on doing trading specially when making profits because it will really be just that disrupting you on making up some good trades just because you've been minding too much about on how to make money or profits and not really be that thinking seriously on putting up some analysis or indicators into each trade. We do know thats not really a precise thing but this is something more better rather than on making yourself that delusional.

As a beginner then mistakes could normally be able to experience, the key on here is that you should really be wary about on how to deal up with loses and will be able to adapt on whatever the things that you are  currently experiencing with. Dont make yourself that trying to become a gambler on each trade you do make because as a noob then there would really be times or moments that you will really be something like this on which there would really be moments that emotions and mindset cant really be able to control at the same  time. This is where you would really be needing up to build yourself on a gradual phase.

Trading has a lot of dynamics involved you can't just get a full grasp of everything about the market just by watching YouTube videos or reading books in a space of two months. You asked how traders able to know the direction of the market, well for you to get to that point you need to give more time to learning and understanding the market, you can't figure out everything within a short period of time. Don't focus on trading now if you are not confident in your strategies, spend time to develop them first and get yourself a mentor to guide you

If you are a beginner, consider the amount of capital you use as the amount you will use as a trial, not intentionally to be lost but to use it as learning capital and the initial step of adapting to the fluctuations that occur in the market. Real trading with a demo account is different, when you experience a loss in a demo account, there is no emotional response that you will feel, but when you trade with real money, indirectly over time it will make your mental and psychological stronger over time.

That means I would say that losing $ 40 out of $ 100 is a natural thing for a beginner to experience, and I would also say that the worry or sadness you feel due to experiencing a loss is something natural. As long as you are able to realize what should be fixed to further minimize the amount of loss, then continue, trading is not an activity that will give you income without sacrifice, meaning you must first go through the process of difficulty.

Trading is actually not difficult if you really learn it, what is difficult is fighting yourself, controlling your emotions. Because basically trading does not have to be professional, if professional it is better. However, everyone who will start from the bottom, cannot immediately become a professional and then be able to trade, even professionals start from beginners.

For beginners if you want to start trading, understand the basics of trading first because this is the most basic thing to become a professional, understand the basics of the coin you want to trade in order to be able to analyze the market properly. Make a detailed trading plan so that you have a target and of course you must be disciplined in carrying out trading activities. The last and most crucial thing is to start trading with a small capital so that when you experience a loss it is not painful and you can take wisdom from the loss because believe me every trade must have a loss.

For a beginner to loser, $40 in first trading means that he doesn’t know have any background of the trading, and it's very important to know about the technique and fundamentals analysis of trading before introducing yourself into it to avoid much losing when ever you come to trading. In your statement that you watched some videos on YouTube as your first background learning is good, but I will know advice a beginner to start trading with big amounts of money without a proper knowledge of the trading or claim that he as some experience on YouTube that’s not a enough has a newbie to a trading.

in fact, trading is very difficult. my advice is, don't rely on influencers you see on YouTube. it's better for you to try to do your own analysis, such as looking for good and potential coins based on charts, or the development of information on social media that they provide. however, the beginning of trading is very difficult, but sooner or later, I might be able to develop your own strategy.

It should be like that, or what I mean is that someone should learn from the mistakes they make, mistakes are something that is natural for someone who does not know what to do and what to avoid in certain situations.
But the problem is that not everyone is really able or willing to learn from the mistakes they have made so that in the end it makes them repeat the same mistakes and of course it also causes delays in development.

This means that of course the key to success in becoming a successful trader is that you must have a strong intention and determination to learn, because the key to success in trading is when you already have a lot of knowledge and skills and all of that can only be obtained when you want to learn from mistakes

I do agree. A person should just learn from the mistakes made, either from himself or from others, which would be better, of course.
Experience comes with time, practice, and learning from yourself and from others.

Knowledge is like a fuel people use to drive their trading smoothly to achieve what they want, because if you lack the knowledge of trading as a newbie, it will be difficult for you to maintain winning in your cryptocurrency trading. Challenges will definitely come as a new trader that will make you to experience losses from your trading but you don't need to give up on trading than to look for solution that will make you to improve in winning all the time, because that is the heart desire of every traders. Asking questions from those that have more knowledge than you, it will make you to follow the right way to start making income from your trading, because those professional traders will show you all the strategies to use to maintain consistent income in your trading and you will like to be asking questions from your mentors until you become professional in trading.

For me, consistency in learning will determine whether we are just wasting time or not. For example, in one year we continue to learn, but we never feel any development because there are still many losses that are obtained, then we stop learning and just leave it, in my opinion that can be said to be a waste of time, because when we still feel the loss we just leave it.
However, if we continue to learn until we really understand, no matter how long it takes, it will not be a waste of time, because in the end we will gain knowledge and be able to trade better than before.
Maybe when we stop learning we will also get a little experience of what it feels like to trade, but what I mean by wasting time is when we don't maximize it because we are impatient.

The more time you “waste” emphasis on “waste”,

Now why would you have to use that word for having to spend time trading the market, either as an unskilled trader still learning the act or as a trader with some years of experience with the market.

Waste isn’t the word here mate, you don’t waste nothing in learning. You are spending time yeah but, those minutes isn’t a waste. You loss, it doesn’t matter, your learning not to loss. So long as you are learning, no minute spent on the process is a waste.

Quite right! I'll never forget those early days when I first got into trading.  Man, talk about feeling totally lost and overwhelmed! It was real easy to get sucked into all the get-rich-quick hype and think I just needed to find that one magical system.  But the reality is something completely different.

@OP, watching some educational videos and learning technical analysis? Solid start buddy.  But don't go chasing those ten-bagger unicorn trades just yet and  gotta start small time, keep the risk dialed down. Those skills and market know-how gotta be built brick-by-brick.  With enough hours put in though, no doubt you'll get where you wanna go.  Just gotta keep learning.  Patience and dedication - thats what separates the winners from the losers in this racket.

Trading is not any easy task. trading is a professional task. The more time you waste here and the more you lose, the more expert you will become. One cannot learn about trading or become an expert in trading very quickly. I would suggest you to continue trading with very small amount and keep note of your mistakes and continue trading. Then gradually you will become an expert on your own. you must have patience in this case

Yes; firstly trading in demo account can boost confidence level for a beginner trader, it will be so very helpful to start in real trading, who newbie trader firstly jump to trading in real account, it's higher chances to lose initial fund in their first trade, because they did not any practices about trading, my trading journey started with demo trading and after several months i entered in real trading.

That's right, trading is difficult without proper practice as we all know that trading is more risky here own skill is more effective. If the market is not practiced well there will be risk in all trading. Many people think that demo trade is simple and very easy to make profit. But it is not. The real thing is that you are given a lot of capital in demo trade, so that you can trade well for a long time. Then again because it is not your dollar you do not become emotional, so you can trade pressure free. And you can not withdraw this profit because there is no greed and work so you can profit.

The only time to know how equiped and ready you are to trade is definitely not through demo trading even though it's the recommended starting point for every newbie trader to acquaint themself with how trading looking like. But in the real life trading what unfolds  tends to be very different from the experiences with demo trading. It's likened to the experience of training for way and actually having to fight in the battle field, it's a two different experience altogether.

A lot of traders had quit trading within the shortest period because the results they were experiencing with demo isn't what is obtainable in real live trading, that's why it's necessary that as you learn about trading you also follow it up with real risk of what you can afford which will be helpful in building your strategy, emotions and risk ratio.