Topic: advice for a beginner - page 7. (Read 1099 times)
If you are new then it is better to stay away from your trading. Because it is very risky to invest without acquiring sufficient knowledge about trading. Since your losses are more than your profits, it means that you don't have enough knowledge about trading. You need to master trading first and follow those who are very good at it. Learning trading is not easy but not impossible. If you work hard and give enough time to trading you will also become good at trading. First of all you need to be patient and have adequate understanding of market analysis. Also know when to hold and when to sell.
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.
Definitely you are a spot trader which is not as risky as future trading. If it is future trading, you will have lost all the $100 as using leverage will tempt you.Just continue to learn about trading and use the amount of money that you can afford to lose to trade. The more you trade the higher the experience that you will have. You can be taught about trading but you can not be taught how to make money from it you will need to get that yourself. Be patient and do not trade with higher amount of money.
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.
Some people will trade and lose and continue to lose until they stop trading. Trading is very risky even than some people think. 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).
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.
hi, welcome to the forum. Do you trade futures? I don't think it's a good choice for beginners. Most beginners experience the same problem you are experiencing.try to buy and hold first. choose the right assets. If you want to trade daily, especially for futures trading, there is a lot you have to learn and prepare.
As a start, to be honest, spot trading will be better for you. learn slowly, and don't be too hasty with profits. You have to know why you are losing.
If you invested $100 and lost $40 so far, I'd say you've lost enough money. You got inspired by watching videos on YouTube and got inspired and invested $100 but you had no idea which coin would be right for you and which coin would be easy for you to invest. You did not select the right coin and did not understand the market due to which you are currently in a big loss. How a YouTuber makes YouTube videos and how he trades If you follow him directly, it is natural that you will make mistakes and make such mistakes that you will lose money. Now that you have enough money in losses I think you should wait for some time because if the market pumps up a bit you might recover some of your losses. If the loss is recovered then select a reliable coin in the market for trading then trade and hope you can make a pro
Trading is very complex, and you just learnt few things in one month, and you have started trading. C'mon mate, things are not done like that, because you will end up in great loss. I hope that you don't think that trading is a get rich quick scheme, because this is what those influencers tell their followers, and decieve them to a very high risky business.
I would advice you to learn trading the proper way and not through YouTube, because when you are in the market, it is a different experience from the theory aspect of trading. Only use the amount of money that you can afford to lose to trade, so that you can have the experience. It is better that you invest and hodli as a newbie, because it is very easy and tension free unlike trading.
I would advice you to learn trading the proper way and not through YouTube, because when you are in the market, it is a different experience from the theory aspect of trading. Only use the amount of money that you can afford to lose to trade, so that you can have the experience. It is better that you invest and hodli as a newbie, because it is very easy and tension free unlike 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.
Advice? Start with a demo account first!!! Why did you go live trading immediately? As you've said, you are new to trading, and a month ago, so why did you rush to do trade immediately? Before it's too late, I advised you to keep the remaining capital you have and keep it and focus on learning more or gathering information about trading. The import thing is that if you want to execute an analysis or trade you think you will win, then practice first ina demo account; you need first the necessary preparation for the actual trade. What if you keep on livea demo account; you need first the necessary preparation for the actual trade. What if you keep on livea demo account; you need first the necessary preparation for the actual trade. What if you keep on live trading and one day you lose all your capital? Then you will quit and be discouraged? Think first before you desire to earn money in trading because trading is not for anyone who one day wants to trade to earn money. Trading is a very complex and serious thing, so you need to invest in knowledge and experience first. 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 guess you have the wrong mindset, as in any endeavor, specially trading in a market that is very volatile, you might end up that $100 in an instant. And you are lucky that you just lost $40 yet. And that is the real face of crypto trading, again, it's very volatile and there are many entities, like pump and dump group, (maybe you might have heard about them).
I guess you need more experienced, and maybe treat that $100 as most likely you will have to lose it just to get that needed experience. And that's why I think that crypto trading is not for everyone, as it might not be good for you mentally to see losses after losses. But in any case that you really dream of becoming big in trading, then learn from your mistakes and really learn technical analysis.
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 remember sometime ago when I first started trading, it wasn't really a pleasant experience as I watched my capital burn. Thank God I was able to manage my emotions so as not to hurt myself further because I invested quite a huge amount of money. After a while, I got to realise that having losses is normal for a trader, especially newbie traders. One major reason for losses is lack of proper knowledge and experience. I wish I knew the things I know now when I first started trading, maybe I might have been able to minimise the losses I incurred.
One month is quite too early to start feeling bad about your losses, this is the opportunity for you to learn from your experiences, gather knowledge from different sources and don't just rely on your YouTube videos. Don't stop learning, constant learning guarantees improvements and if you can get a reliable mentor, then good for you.
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.
When you are just that totally new then it would really be that normal that you would really be having those kind of emotions on which you would really be having those questions in regarding on whats enough or something that do talks you do have those doubts that you've done something but still ended up on a loss. Of course on which trading isnt a skill that you could really be able to easily learn on which there would really be still tons of things on which you would really be needing to learn. So the key on here is that you shouldnt really be making yourself in a rush on learning things and dont make yourself that too positive when it comes to profit making.
Being a beginner is really something that normal because no one starts on being a pro. The only issue of most noobs is that the do hurry when it comes on learning up things and
making those money or profits on which this causes up for you to become that desperate on which this is something not really that totally suggestable or recommendable to
do so.
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.
Losses is normal when you are new what's important there is you learn some good lessons on why you lose. Also try to set up your expectation on your trades since emotion is our main enemy there. And since you already do some trades there you should always remember that anything bought even if the price is down is not totally a loss especially if you didn't dump your coins so if you experience a decline on your trade much better hold it and just grab new funds to trade the same or other asset so you could potentially bounce back and if the price would pump again on your old bought coins you can recover or be in profit with those coins or token.
Also don't have a FOMO attitude or always listen to someone's hype you should conduct your own research on every trades you do to learn something and can decide which of those coins is currently a best one to trade.
there's actually not much advices that can help trading is combination of luck and reading the situation in my opinion but you can easily make profit if you go against the people's psychology in general.
like imagine if the recent dipping that happened this past few days where people are scared shitless that they tried to panic dumping their coin into the market you instead buy right now you probably already making profit which exactly the thing thats im doing.
therefore its just buy low sell high thats the rule but not many people can do that because some people are just mentally fragile and have paper hand so that they just sell when they feel threatened even though thats all just illusion.
trading is as simple as that, and if you can somehow manage your emotion im sure that you will come out with profit unlike majority that gonna results in loss.
but need to know that over trading could also make your decision somewhat messed up therefore don't overtrades.
like imagine if the recent dipping that happened this past few days where people are scared shitless that they tried to panic dumping their coin into the market you instead buy right now you probably already making profit which exactly the thing thats im doing.
therefore its just buy low sell high thats the rule but not many people can do that because some people are just mentally fragile and have paper hand so that they just sell when they feel threatened even though thats all just illusion.
trading is as simple as that, and if you can somehow manage your emotion im sure that you will come out with profit unlike majority that gonna results in loss.
but need to know that over trading could also make your decision somewhat messed up therefore don't overtrades.
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.
You started trading from a month ago, It's nothing in crypto trading. Don't hurry in trading, learn it gradually because it's a long time process to understand market, other technical strategies. If you have lack of knowledge you can not recover your loses. Those people's are definitely experienced in this sector and they taken risk with random coins to make high profits. 
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 feel you were too quick to start using your real money to trade. Don't be offended, but let me put it this way: the main reason you started trading is to start making a quick profit. This is because you started a month ago, and I am certain you have no or little experience. What you should have done was to begin with demo trading instead of using your real money. One month is not enough to have the necessary knowledge to become a successful trader. When it comes to trading, experience matters a lot. It is not time you stop trading with the $60 left. Focus on finding a mentor and start learning from his pattern of trade while practicing with a demo account until you feel confident enough to start trading on your own.
Hello, I'm a new trader. I started a month ago. I deposited $100, and now I've lost $40. Any advice for me?
What did you prepare before you funding your account with $100 and quickly started trading?Quote
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.
Randomly picking coins when you see they are boosting up, this means you are FOMO.You FOMO bought at top, panic sold at bottom after the pump game is over, it's how you lose 40% of your initial capital ($100).
Don't FOMO is key to avoid loss.
If you feel trading is not for you, don't trade as if you continue trading, you will lose more money.
Change to hold good cryptocurrencies fundamentally and stop your 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.
It will take years of experience to become a "good trader". Even if you do become a good trader, its not like you will be making profit every day. There will be days where you will be losing a lot. So be glad you lost only $40, not your whole capital. And if you want to get good in trading, don't invest and trade those "random" coins. You will most likely lose more when trading those coins. Since they are very volatile, your risk is also going to be high. But your profit is also high if you get somewhat lucky. Stick with those well known and top performing coins like bitcoin or ethereum. Start small, understand the market, keep learning and you will eventually succeed. If you lose money, don't give up hope. Instead, try to understand what went wrong. 
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.
No one really knows which coin is going to pump, and those that claim they do are either lying or deceiving themselves as well, so forget about those coins as there is no future for you if you try to chase them.What it should worry you is that in just a single month you have lost 40% of your capital, and if you do not change this you will lose the rest during the next two months, so the first thing you need to do is to learn about money management, as this will allow you to minimize your losses, and given enough time, it will also allow you to obtain the most profits out of your correct predictions.
Some people have been doing this for 10 years and still can’t make any money. It’s a difficult game. You won’t learn how to be profitable by watching YouTube videos, you need to put in the hours yourself.
Yes there are tons of Solana meme coins pumping but guess what there are 99 others which are rug pulls and investors lose everything. The dogwif was extremely rare of a probability that it would make it big. So rare that the developer sold everything for like $50k instead of holding for $20,000,000.
My advice is to stay away from these meme Solana coins.
Yes there are tons of Solana meme coins pumping but guess what there are 99 others which are rug pulls and investors lose everything. The dogwif was extremely rare of a probability that it would make it big. So rare that the developer sold everything for like $50k instead of holding for $20,000,000.
My advice is to stay away from these meme Solana coins.
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.
Don't focus with the hype, just continue learning the indicators and know how to properly used it.Trading is not an overnight success or money machine, it will take time before your really earn good profit. You started with a good amount of capital for the beginners, now you have to do your best to protect that capital from any losses.
Well, you've said that you are already making profit and that is a good progress, just continue doing it and again don't chase any hyped project because when you trade with a lot of emotions then you might lose everything.
One important thing in trading don't be hurry up entry position to buy or sell, always looking how potential price of altcoin or bitcoin you want to invest have reaches most higher price or not. I am so sad heard with your loss around $40 depend your capital $100 but which one you trade in future or spot trading?
The ratio of percentage, OP loss almost reach 50% of his capital and its not really worth as investor for getting back recovery, you need to have more knowledge with trading and have second option after your coins investing drop drastically.
Use stop loss when your capital decreasing above 10% to minimalize with your more loss in trading, beside need make research before investing in some coins you must always ready with stop loss feature and get second opportunity to buy back in lower price recovering with loss.
The ratio of percentage, OP loss almost reach 50% of his capital and its not really worth as investor for getting back recovery, you need to have more knowledge with trading and have second option after your coins investing drop drastically.
Use stop loss when your capital decreasing above 10% to minimalize with your more loss in trading, beside need make research before investing in some coins you must always ready with stop loss feature and get second opportunity to buy back in lower price recovering with loss.
Any advice for me?
Learning to handle losses early on is a good sign that you will be a successful trader in the long run. At the beginning encountering losses is inevitable. It is part of the "tuition" you pay to improve on your risk management strategies. Do not fall into depression because of this is also a learning curve. Since you watch a lot of YouTube videos on trading, expand your preferences to include an expert doing live trading. The more trading knowledge you have, the better your trader experience will be in the market.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).
Doing both trading and investing is a balanced approach that will help the OP maximize their returns while spreading their risk. Knowing when to invest and when to trade will be a result of his understanding about market conditions. It requires self-discipline.
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