Topic: advice for a beginner (Read 1060 times)

if i may ask, what coin did you buy?  Did you buy the coin based on analysis or just following along?  Do you know the basic theory of trading?

sorry if above, i asked a question like that, many beginner traders join in the market because they are inspired by someone in the video they watched, even though that is not something that can be followed easily, to become a profitable trader then combine skill + patience + mentality, that's important so what you do is trade, not gamble...

my advice for beginner traders, if you want to learn, choose coins that already have a good reputation, such as Bbitcoin, Ethereum or BNB, so that you don't have to worry anymore about the prices of those 3 coins not going up.

I am also a newcomer to this field, but I, for example, decided to start not with trading, but with finding interesting projects in which to perform activities. Of the latter, it was Linea Park. Low costs, activities are quite simple, after the update from ETH, even gas was quite cheap. Among the disadvantages of this area (let's call it drop hunting), you don't know how much you will get, when and if you will get it at all. I'm still learning the basics of trading, but technical analysis is very difficult. I can't even imagine how much time it takes to find your own strategy and make it at least a small percentage profitable.

When it comes to trading what kills first traders is sometimes greed, as you want to gain too much profit from the little knowledge you have , which in most cases does not happen like that, but like you said since you are earning, no matter how little, I will advise you keep it up and also gaining more knowledge and experience at the same time, just give yourself some years and be consistent you will start making more profits,
I used this pattern and I think it's working for me, most times I make losses but like I said for my level I trade within my financial ability, so I don't really feel it because I see it as gaining knowledge and experiences.

Stop-loss and take profit aren't the first things one should know when one enters the market, the first thing one should know is how the market works, its movement patterns, and different trading practices, though stop-loss and take profit come trading practices, they are still a bit advanced stuff and one needs to know the basic things first before they get to the advanced tools and management practices.

One more thing new investors and traders need to do is to make sure that they do some research about which trading type is better for them because newbies often get into futures trading right after getting into trading and then they start complaining that they have been liquidated and have lost all their money, it is because futures trading is only for experienced traders, newbies need to start from the spot market.

You have some nice advice, every beginner should calm down, trading is not what they will achieve in just a moment, it takes time and the length of time it takes depends on the beginner. This is because they are more serious about trading than each other, many of them may be ranting or playing too-know, what shows what they really are in trading will always be their trading performances. Unfortunately, the performance of beginners is always the same, some may try in the beginning but will still fail.

It was so annoying with some beginners when I was also learning how to trade. In fact, no one is lousier than the new traders if they know a simple trick about the market, you will see them making their mouth about it but they will always lose their money back. As a calm and collected person, I like to do my thing without intimidating, but these guys were so intimidating about a little success. In the end, they will lose them back. Today, none of them is trading again, but the calm and collected one, which is me is still trading.

So, it is not about being lousy or rushing for success, but training and perseverance until your joy is full. Even the so-called professional and expert traders are still losing and facing enough challenges of their own about trading, so why rush and make it look as if you know it all already as a beginner?

The assumption issued by beginners who say that trading is easy because they do not fully know about how the real difficulties that exist in the world of trading, and maybe the idea came out when they managed to make a profit in one of the sessions they did, but I'm not sure that they made a profit as a result of the knowledge they have which means there is a high probability that the profit is obtained when the market is in their favor and I think there is also a high probability that they do not know about what makes them succeed in getting the profit. And actually whoever it is whether you are a professional trader even though in my opinion you still won't conclude to say that trading is easy because the possibility of risk will always haunt you as long as you run the session, but the difference is maybe when you are a professional then you are sure you already have more knowledge in terms of finding profits than beginners. On the other hand yes of course as you said that novice traders must have a strong desire and intention to learn, there is no profit if you do not have a way to fish for it or to pick up the profit, and when you have a strong intention and determination to learn along with being able to be a hard worker and have good consistency in learning then in the end you will also be able to become a professional trader who will have a lot of experience and knowledge in terms of seeking profit.

Well first advice would be to watch those videos with a non-biased mindset. Take the knowledge but dont get stuck to the coins they talk about.

You are taking the wrong road to trading. Everyday we have pump and dump happening on many coins. These are not significant because often there are signals groups and all doing this stuff and if you try to get your hands dirty you will get burnt. Focus more on the top 10 coins, bitcoin as the maximum. Dont chase those short term gains, trading is always for the long term.

Analysis is always going to be a  50-50 game, you can only get an idea about the movement but not a forecast, so use that information with a bag of salt.

As other as rightly saod. Trading is fun if you understand what you are doing. And the things to know which are the basic and fundamental principles in trading are stop lost point and take profit point that is the entry point and the stop point. You have to k ow them first before any other things. Though you can auto set them, but you need to monitor the market movement. Then another thing you need to do is that you don't have to be greedy and this greediness is the major thing that killed trader. Because they are aiming to accumulate more or bigger profit before stopping the trade and before you know the small amount or the profit you have gotten with the capital you used in the trade would disappear.

So all what you need to do is to take any small profit you have gotten and let it be. I also loss when I have not understood the market.like that.

Actually the newbies think that trading is very easy but actually trading is not that easy. Trading is very easy for those who are professional traders, they can profit by trading. As you are a new trader you should learn about trading more. Those who are professional traders were also new traders in the beginning and slowly they became professional traders. You learn to analyze the market, try to buy the right coins. Don't rush to trade, be patient and learn more. Hope you too can become a professional trader one day.

I can tell you this: it's never too late to start; everyone had to start somewhere, nobody was born with such knowledge. The key is to choose truly good platforms for learning; it's not as easy as it might seem at first glance. Somewhere the information is not very useful for beginners, too superficial, and somewhere the prices are too high for education. Regarding where beginners should start, in MetaForce, there is a free learning platform, the Cryptocurrency Academy, for those who want to delve deeper into this topic, learn to use blockchain, get into DeFi; it's a good ecosystem, currently a very promising platform that is still developing. There, you can trade NFTs, learn, and soon you'll even be able to play an MMO game format where you can earn crypto, and more. You can read an interview with the creator https://www.cryptopolitan.com/lado-okhotnikov-presents-meta-force-revolutionary-income-scheme/   Lado Okhotnikov Meta Force to understand the position and concept of the Metaverse

This is inevitable or something which you would really be able  to encounter on which it would really be that normal that people or newbie traders would really be able to encounter on where problems and challenges is something that you cant really be able to avoid. The best advise would be that you should really be that following is that you would really be needing to sustain and just learn up all the things that you do able to learn
along the way.Its had but doesnt mean that i would be no sense, real learnings could really be acquired through trading experience.

Just dont make yourself greedy and not really that trying out to achieve something which we know that its really that hard considering that this market is really that unpredictable.
Be versatile and be that realistic when it comes on setting your targets or goals.

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Many new members come to this section of the forum after opening their account and make such posts and I have replied to many such posts before. If you take the trouble to find these other related posts you will get a clear idea of what the newbies to this forum are all about. In addition to searching for posts, you can also read the posts that have been pinned. Still I would like to say to new members that you try to post on specific topics from the forum following the rules of the forum. If you have a problem in your beginning, don't make a big deal out of it but you should be patient and try to learn about it. When you patiently try to learn about a subject, you will surely learn about it.

We are not wise if we made at mistake but that might be the start for us to become one. Trading is complex for the beginners but once they learn it well, it can only look simple. There are still advanced trading techniques which they can also do if they want more challenge and maybe that can help them to maximize their earnings.

Most Youtube videos are fake and not good, so this means there are still a few who are legit and good. It's nice that OP came here before heading there directly as he can get a good recommendation here if which YouTubers or influencers is the ones that he should follow as it was already proven and tested by the users here.

Starting gradually and learning from the beginning is quite difficult for some beginners. they just see it instantly, want to get benefits directly without the complicated processes required. In fact, many people ask me how you can get profits directly with minimal capital. it is even a stupid thought for beginners. I didn't even make a profit even though I had been trading for quite a long time. all require a long process, not just once or twice, even many times to get consistent profits. Trading is not always suitable for beginners, there are some people who are only suitable as long-term holders who are safer from the risk of loss.

Of course that is the wrong mindset and assumption in addressing the world of trading, nothing is easy and in fact some people who really understand about the concept of trading as a whole they say that this is a very difficult activity to be able to make a profit, but even though it is difficult does not mean it is impossible that in the end you have the same chances as others to be able to achieve success in this field. The key is to have the right understanding and have a strong intention and determination to learn by studying everything from any source related to the world of trading.

Someone who prefers shortcuts in the world of trading of course they must be a typical trader who wants to get instant results, no success is achieved instantly and all because they do not want to go through all the difficult processes on the way while all the people who are now achieving their success are born from someone who wants to learn and work hard. I understand that trading signals can help you make instant profits, but you will not gain knowledge from experience just like you will not know what makes you lose. Signals are an intermediary for instant profits, but they will never give you the knowledge to grow or become a better trader because there is no experience to learn when you follow signals or other people's methods. Success will come after failure while no amount of failure will change you into a better and more experienced trader if you don't want to process because you always want something instant like following trading signals.

You should never spend money in trading when you are new, you should be fully prepared first. Most of the newbies do this mistake, they watch a few videos on youtube and think they are expert in trading and then spend money in trading and that's the money they lose. You should now know and research better about trading. You trade with money only after gaining a complete understanding of trading, your chances of losing will be greatly reduced, and if you trade well with maximum knowledge, you can definitely earn money from trading.

     That's what most newbies think; in fact, they are wrong in thinking that trading is easy to learn. They don't know that there is no shortcut here in trading; instead, everything needs to go through in order for you to be successful here.

     Just like others say or some of us here, always start with the basics. Don't be in a hurry to make money in trading; it doesn't matter if it's slow as long as you learn something.
Instead of just feeling like you're learning something, the truth is you haven't.

Every beginner who thinks that trading is something that can be done easily, of course they have misunderstood the knowledge about trading. The most important thing for everyone who has just gotten to know trading is that they must be able to learn about trading and also learn from experts or various sources that they can. believe that you can trade and make a profit.

When someone uses shortcuts in learning trading and also using trading signals of course they have to choose correctly the signals they will follow lest they experience a lot of losses in the trading they do and also every beginner will certainly experience failure on their first try and they must take this as a lesson and must be able to improve it in order to enjoy the profits from the trading they do.

Those are common first impressions on which you would really be thinking up that trading is easy specially if you have seen online that someone do make out some huge profits out of their trading positions and since you are still a noob then you would really be having that kind of thinking that it was really just that easy or something that you could really be able to learn up easily but you wont really be that experiencing that stuff on the time that you would really be stepping your foot into this space. When you are still trying out to have some good grasps towards trading then make yourself that be realistic on the things that you are dealing with.
Dont make yourself that be in a hurry because if  you are really that trying out to fast tracking on everything then you are really that prone to tons of mistakes.

When you are that newbie then you would really be needing up to go with the basics, make use of that small capital on trying out to gain up real experience in the market
and once you have that getting the idea and experience then this is where you would really be tending to explore more.