Topic: advice for a beginner - page 2. (Read 2131 times)
In general you have to cultivate the mindset that trading is is not a get rich quick scheme. You should also invest what you can afford to loss as trading involve risk due to volatility of the market. More so invest in getting more knowledge and perfecting your executions. Proper training and mentorship is key as a beginner. Invest in knowledge do proper backtesting and do your own research. Understand proper risk management.
It is very impossible for a person to continue trading without understanding the slightest bit about it and to understand it, of course, you must first learn it and try slowly by using a little money that we can afford when we fail at the beginning of trying because there are many things that we must learn to be able to trade by making profits.
When the learning process is ongoing, of course we must have strong patience because we can experience some failures when we first try it and if we no longer correct our mistakes, of course we have experienced failures, but for those who can correct the mistakes they made, of course they will be able to achieve what they want from trading.
When the learning process is ongoing, of course we must have strong patience because we can experience some failures when we first try it and if we no longer correct our mistakes, of course we have experienced failures, but for those who can correct the mistakes they made, of course they will be able to achieve what they want from trading.
Why start trading with real money when you are in the learning process? One doesn't need to risk any money before they feel they are ready to face the challenges of the market. It's not as easy as you make it sound, and I know you are saying that one should start trading to have hands-on experience but that isn't necessary at the initial stage.
A person should make their knowledge very strong at first before they jump into the market and start making trades. When you have strong fundamental knowledge about cryptocurrencies, the market, different trading practices, and markets, you will have fewer difficulties when you start using all those things and it makes it easier for you to mitigate risks and stay within your limits when you start making real trades.
There is nothing wrong with using demo accounts. It provides you with a playground where you can practice your knowledge and see if you have learned enough or not. The market, candles, prices, all the things in a demo account are real except for the money, so it's useful for newbies.
As a newbie trader you should learn about this at the very beginning. If you don't get detailed knowledge about this then you can never become a successful trader. So you should learn to trade regularly from the beginning and gradually learn more. Because you never want to lose your money easily so you have to learn if you want to earn something from here. Second is to stay in touch with experienced traders and get advice from them. It's not like you're only profiting after you trade knowing everything but you'll definitely lose some capital and learn from here. Then gradually through your small experience you will become a good professional trader.
Testing the waters on a live account with small capital will give you an experience that'll have more exciting but traders shouldn't underestimate demo accounts as they're there for a reason. We should use demo to practice all our trading strategies and make our skills to be perfect before going lives. Losing a trade can motivate you but not everybody has the toughest skin to take losses and turn them into profits. Some traders lose their self confidence after they lost some trade therefore before putting yourself out in the real market, we should have had enough practice in the demo account to make our prediction to be more accurate and less of assumptions.
I agree with you, relying or sticking too long on demo accounts will not bring us any benefits. In trading, in addition to knowledge and skills...we need to remember that emotions are the deciding factor in our trading results. Demo accounts cannot give us the most realistic feeling like real trading because we are aware that it is just a simulated environment, even if we make wrong predictions, it does not harm us.
In general, using Demo for a long time will form many bad habits and lack of discipline, which will not be good for us when switching to real trading.
Testing the waters on a live account with small capital will give you an experience that'll have more exciting but traders shouldn't underestimate demo accounts as they're there for a reason. We should use demo to practice all our trading strategies and make our skills to be perfect before going lives. Losing a trade can motivate you but not everybody has the toughest skin to take losses and turn them into profits. Some traders lose their self confidence after they lost some trade therefore before putting yourself out in the real market, we should have had enough practice in the demo account to make our prediction to be more accurate and less of assumptions.
I agree with you, relying or sticking too long on demo accounts will not bring us any benefits. In trading, in addition to knowledge and skills...we need to remember that emotions are the deciding factor in our trading results. Demo accounts cannot give us the most realistic feeling like real trading because we are aware that it is just a simulated environment, even if we make wrong predictions, it does not harm us.
In general, using Demo for a long time will form many bad habits and lack of discipline, which will not be good for us when switching to real trading.
Hello, I'm a new trader. I started a month ago. I deposited $100, and now I've lost $40. Any advice for me? I watched some YouTube videos and found a technical analysis video which helped a lot. I started not losing as much. Sometimes I even earn. But even though, I feel so lost. Like every day, I see some random coins get boosted. Some people earn from how they know that coin will go up. I'm sorry for my bad English; it's not my first language.
I don't think it makes sense to participate in trading in a brand new state. Trading should be done after gaining experience. You can see for yourself here how to make money from trading. But of course acquire the strategy of trading. If you can acquire the strategy of trading, understand trading, you will lose very little even if you lose here. You may have made a decision by watching youtube video I want to make your decision try it yourself but trade with very small amount of money so you can learn about trading.It is very impossible for a person to continue trading without understanding the slightest bit about it and to understand it, of course, you must first learn it and try slowly by using a little money that we can afford when we fail at the beginning of trying because there are many things that we must learn to be able to trade by making profits.
When the learning process is ongoing, of course we must have strong patience because we can experience some failures when we first try it and if we no longer correct our mistakes, of course we have experienced failures, but for those who can correct the mistakes they made, of course they will be able to achieve what they want from trading.
While trading demo the person may not put much effort instead will have that mindset that it's only demo therefore has nothing to lose from the trade but with live account the trader will be extremely cautious.
Testing the waters on a live account with small capital will give you an experience that'll have more exciting but traders shouldn't underestimate demo accounts as they're there for a reason. We should use demo to practice all our trading strategies and make our skills to be perfect before going lives. Losing a trade can motivate you but not everybody has the toughest skin to take losses and turn them into profits. Some traders lose their self confidence after they lost some trade therefore before putting yourself out in the real market, we should have had enough practice in the demo account to make our prediction to be more accurate and less of assumptions.
Hello, I'm a new trader. I started a month ago. I deposited $100, and now I've lost $40. Any advice for me? I watched some YouTube videos and found a technical analysis video which helped a lot. I started not losing as much. Sometimes I even earn. But even though, I feel so lost. Like every day, I see some random coins get boosted. Some people earn from how they know that coin will go up. I'm sorry for my bad English; it's not my first language.
I don't think it makes sense to participate in trading in a brand new state. Trading should be done after gaining experience. You can see for yourself here how to make money from trading. But of course acquire the strategy of trading. If you can acquire the strategy of trading, understand trading, you will lose very little even if you lose here. You may have made a decision by watching youtube video I want to make your decision try it yourself but trade with very small amount of money so you can learn about trading.Theory is one thing, practice - is another. I think it essential to go through each stage and try it out, as you said, with the small funds at stake.
While trading demo the person may not put much effort instead will have that mindset that it's only demo therefore has nothing to lose from the trade but with live account the trader will be extremely cautious.
Testing the waters on a live account with small capital will give you an experience that'll have more exciting but traders shouldn't underestimate demo accounts as they're there for a reason. We should use demo to practice all our trading strategies and make our skills to be perfect before going lives. Losing a trade can motivate you but not everybody has the toughest skin to take losses and turn them into profits. Some traders lose their self confidence after they lost some trade therefore before putting yourself out in the real market, we should have had enough practice in the demo account to make our prediction to be more accurate and less of assumptions.
That's why it's hard to adjust when you came from practice and demo trading and you all of a sudden go into live and real trading. The adjustment is so big and the difference is there that you'll think of it if you're really a good trader or it is just that the reality is hard to accept that trading is certainly is hard as it is. This is also the reason why many are aware that more traders are losing instead of winning and that's the fact that's hard to change.
On the other hand as we know that a strong mentality and psychology must be possessed by a trader and you will only be able to have that ability when you have tried to be involved in a real account, because you will only be able to have that ability when you have practiced in a place that can cause tension and anxiety.
Hello, I'm a new trader. I started a month ago. I deposited $100, and now I've lost $40. Any advice for me? I watched some YouTube videos and found a technical analysis video which helped a lot. I started not losing as much. Sometimes I even earn. But even though, I feel so lost. Like every day, I see some random coins get boosted. Some people earn from how they know that coin will go up. I'm sorry for my bad English; it's not my first language.
I don't think it makes sense to participate in trading in a brand new state. Trading should be done after gaining experience. You can see for yourself here how to make money from trading. But of course acquire the strategy of trading. If you can acquire the strategy of trading, understand trading, you will lose very little even if you lose here. You may have made a decision by watching youtube video I want to make your decision try it yourself but trade with very small amount of money so you can learn about trading.except there is no monetary value attached to the trading where someone can use only demo to trade at then there will be no much emotion to be attached.
This is true, when there's no monetary value involved, it's easier to trade and with those demo trades. It's very easy to let it loose or win with your trades. Many traders are like that, they're good in the demo trades and they're confident that they're going to win their trades if they open up a real account with actual money on it. But going on with the actual trades, that's when they're losing their confidence and money instead.
~snip~
Good point, the point is yes we have to understand that there is no significant result with just a little effort unless luck comes, but however trading is not about luck, as I said before that success depends on how much knowledge or knowledge you have, and of course all that you will only be able to have when you have gone through several processes, meaning it takes time, and not only that, strong determination and discipline and perseverance must also be prepared as provisions to survive and also as something that can make you produce knowledge.On the other hand, emotions are a natural part of a person, meaning that everyone will always be able to express emotions when things do not go as expected, meaning it is quite natural for a beginner to find it difficult to hold back his emotions, but in the end I think you will have the ability to control your emotions when you have passed the adaptation phase with the situation, especially if you have strong intentions and determination from the start to learn everything you find related to the world of trading.
Agree, indeed emotions are human nature, so it must exist in every human being and of course there are times when they experience something that triggers their emotions to peak, but in any case they must be able to control their emotions to keep things okay. We know that controlling emotions is not easy, but indeed we should be able to see what we do to minimize our own emotions, maybe venting on other things can be done as long as it does not harm others too.
Hello, I'm a new trader. I started a month ago. I deposited $100, and now I've lost $40. Any advice for me? I watched some YouTube videos and found a technical analysis video which helped a lot. I started not losing as much. Sometimes I even earn. But even though, I feel so lost. Like every day, I see some random coins get boosted. Some people earn from how they know that coin will go up. I'm sorry for my bad English; it's not my first language.
I don't think it makes sense to participate in trading in a brand new state. Trading should be done after gaining experience. You can see for yourself here how to make money from trading. But of course acquire the strategy of trading. If you can acquire the strategy of trading, understand trading, you will lose very little even if you lose here. You may have made a decision by watching youtube video I want to make your decision try it yourself but trade with very small amount of money so you can learn about trading. 
Little or a lot of money we use on trading, it will have an emotional impact on us, but if we are used to the emotional atmosphere and learn to control it, it can be tried, don't be too naive not to use emotions or avoid yourself, just make it flow like you live in trading, if you are used to your trading atmosphere will be much calmer both for your mind and heart.
Yeah. With the money that we earn after working hard, we will have an emotional connection with it, and if we are using it for something, especially if that something involves risks of losing our money, we will be emotionally bound to that thing. However, when we get into trading, we need to make sure that we have learned to use these emotions positively so that we aren't making wrong decisions due to the emotions we have.Anyone trading a lot of years and suffering losses that means he/she still did not understand about trading, who have trading a few years definitely he/she should have become very experienced in the crypto trading, or should stop trading. Losses is the process in trading to adopt it but that does not mean you will suffering losses a lot of year, then when you will successful trader?
That's not true. Even experienced traders incur losses, no matter how long you have been doing it, you can't be right all the time, so when you are making trades, there will be bad trades as well sometimes, that doesn't mean you need to stop trading but it means you should learn from your mistakes and improve so that you don't repeat them again. 
You literally just started a month ago. Most people don't earn from their trading for years. Trading is really not something you can expect to earn money early on.
Like every day, I see some random coins get boosted. Some people earn from how they know that coin will go up.
You trading doesn't mean you can't have a long-term portfolio. You can do both trading and investing(as most successful people in this space do).It is unfortunate to some people, they spent a lot of year suffering the losses and they enjoy it at the end, they were just being patient and also they were ready to bear the consequences on whatever happens to them t
In trading process, and that is how you will be able to become a successful trader, you can't expect yourself to earn money the very moment your started trading.
Well that's it, in most cases I see that many traders fail because they bring the wrong mindset in trading, one of which is as you said above where they have the idea of getting rich quick or come with the assumption that trading or investing is a get rich quick scheme, it doesn't mean it's impossible, but for the initial stage of course it is a thought that should not be in the mind of a beginner, because after all trading depends on how skilled and how much knowledge you have, while it is clear that when you are a beginner then you definitely won't know much.
This means I agree with you that in the initial stage a beginner should get rid of the idea of getting rich quick and better focus on learning, because in any case there must be sacrifice first if you want to achieve success, everything sweet will always start with something bitter, so it is better to focus first on the learning process, because when you already have a lot of knowledge then money will follow you.
It is absolutely not justified to have the idea or thought of getting rich quickly by trading because everything requires a process and consideration, even instant noodles still have to go through several stages to enjoy it, not immediately. Agree with what you said with the name of a beginner, of course, we don't know many things and it's not only in trading, but also with other things outside of trading, it's probably the same.This means I agree with you that in the initial stage a beginner should get rid of the idea of getting rich quick and better focus on learning, because in any case there must be sacrifice first if you want to achieve success, everything sweet will always start with something bitter, so it is better to focus first on the learning process, because when you already have a lot of knowledge then money will follow you.
Some things that must be considered for beginners who want to join trading are emotions, because in my opinion there are people who can't control their emotions or in risk management that must also be considered and others as in the picture below.
This is only a part, because there are still other things that must be considered. This proves that we must be able to understand many things well so as not to make mistakes, although mistakes are bound to happen but at least we must be able to understand to minimize them.
On the other hand, emotions are a natural part of a person, meaning that everyone will always be able to express emotions when things do not go as expected, meaning it is quite natural for a beginner to find it difficult to hold back his emotions, but in the end I think you will have the ability to control your emotions when you have passed the adaptation phase with the situation, especially if you have strong intentions and determination from the start to learn everything you find related to the world of trading.
You literally just started a month ago. Most people don't earn from their trading for years. Trading is really not something you can expect to earn money early on.
Like every day, I see some random coins get boosted. Some people earn from how they know that coin will go up.
You trading doesn't mean you can't have a long-term portfolio. You can do both trading and investing(as most successful people in this space do).It is unfortunate to some people, they spent a lot of year suffering the losses and they enjoy it at the end, they were just being patient and also they were ready to bear the consequences on whatever happens to them t
In trading process, and that is how you will be able to become a successful trader, you can't expect yourself to earn money the very moment your started trading.
Well that's it, in most cases I see that many traders fail because they bring the wrong mindset in trading, one of which is as you said above where they have the idea of getting rich quick or come with the assumption that trading or investing is a get rich quick scheme, it doesn't mean it's impossible, but for the initial stage of course it is a thought that should not be in the mind of a beginner, because after all trading depends on how skilled and how much knowledge you have, while it is clear that when you are a beginner then you definitely won't know much.
This means I agree with you that in the initial stage a beginner should get rid of the idea of getting rich quick and better focus on learning, because in any case there must be sacrifice first if you want to achieve success, everything sweet will always start with something bitter, so it is better to focus first on the learning process, because when you already have a lot of knowledge then money will follow you.
It is absolutely not justified to have the idea or thought of getting rich quickly by trading because everything requires a process and consideration, even instant noodles still have to go through several stages to enjoy it, not immediately. Agree with what you said with the name of a beginner, of course, we don't know many things and it's not only in trading, but also with other things outside of trading, it's probably the same.This means I agree with you that in the initial stage a beginner should get rid of the idea of getting rich quick and better focus on learning, because in any case there must be sacrifice first if you want to achieve success, everything sweet will always start with something bitter, so it is better to focus first on the learning process, because when you already have a lot of knowledge then money will follow you.
Some things that must be considered for beginners who want to join trading are emotions, because in my opinion there are people who can't control their emotions or in risk management that must also be considered and others as in the picture below.
This is only a part, because there are still other things that must be considered. This proves that we must be able to understand many things well so as not to make mistakes, although mistakes are bound to happen but at least we must be able to understand to minimize them.
Start with small investments and only risk what you can afford to lose. Focus on learning rather than profits. Diversify your portfolio to reduce risk. Use stop-loss orders to protect against large losses. Stay updated on market trends, but avoid emotional trading. Finally, consider paper trading to practice without real money.
All traders must follow the learning direction step by step and get rid of the dream of getting rich quick from trading because it can also interfere with the focus and concentration of the trader himself when he is executing his plan and steps one by one. However, it is different for traders who are already quite professional in trading because these traders no longer need to learn the basic methods except to learn new methods that are more powerful in order to improve their own knowledge and skills.This means I agree with you that in the initial stage a beginner should get rid of the idea of getting rich quick and better focus on learning, because in any case there must be sacrifice first if you want to achieve success, everything sweet will always start with something bitter, so it is better to focus first on the learning process, because when you already have a lot of knowledge then money will follow you.
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