Topic: advice for a beginner - page 8. (Read 2131 times)

Taking time is one of the most important things one needs to do when they are learning something that involves finances like trading.

A person who can start trading in a month cannot call himself a trader because trading is a very vast subject and learning it in a month is almost impossible and especially from YouTube it is impossible.

Yes, as a beginner, it is advisable to continue seeking opinion from different angles I would have told you to calm down and watch how reading goes and fully understand it and read more post in the forum consigning Trading discussions, so you can be able to get the full understanding on  what you really want before going into trading fully. If you continue trading without understanding it better, you will end up losing more. asking question is a good decision for you and also take your time and make more research on Trading properly.

Yes, as a beginner, it is advisable to continue seeking opinion from different angles I would have told you to calm down and watch how reading goes and fully understand it and read more post in the forum consigning Trading discussions, so you can be able to get the full understanding on  what you really want before going into trading fully. If you continue trading without understanding it better, you will end up losing more. asking question is a good decision for you and also take your time and make more research on Trading properly.

When a trader is a newbie in the crypto space, he will go through a lot in this matter. From the basic study here in trading, of course he should also know how to perform an analysis by reading the chart graph on an exchange site platform.

They should not think that trading is something like gambling, because trading is not a casino. This is a business that can give us a profit every day or weekly that is equal to or more than what an ordinary employee earns.

A person who can start trading in a month cannot call himself a trader because trading is a very vast subject and learning it in a month is almost impossible and especially from YouTube it is impossible.

If you want a suggestion then you need to not be impressed by any YouTube channel because they are showing the greenery. After all, the aim is to make more subscribers not to give any profit to others. And second is to start watching the news daily from that you can easily know which coin is going up and which one is down one more thing do not make any investment by the suggestion of others do your own research and technical analysis and then make a decision.

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.

Losing is not new in trading. In fact, the more often you lose, the more you become exposed to the reality about trading that its never easy to stay in profits, even professional traders still lose at some point.

However, it's a different thing if you trade without learning even the basics in trading, you might end up like gambling before you realized it. Watching videos will never be enough, for me you should hire a mentor if possible so you can have someone to guide you in the real scenario about the trading market. Experience is still the best teacher, if you lack that, being a good and smart trader will be hard to achieved.

Using only one of few indicator won't help a trader make a more accurate prediction. There are other elements that need to be aligned with the indicator to better predict the market. If one of the element is missing, then a trader should be concerned before taking the trade. As an example if a token is rallying up but there isn't much volume inflow in that token market, then its an indication that someone is manipulating the price. Similarly there are some other things that can give a better prediction about the market and only indicators or trendlines were never the only tool to use for crypto trading.

When I first started trading I had enough knowledge about trading and I tried to gain enough knowledge about trading long before I started trading practically. I didn't decide to trade just by watching a couple of trading videos from YouTube but I know enough about trading and how it works and how much risk I should start and how to end. I have done trading practically after knowing these things but you have traded with 100 dollars only after watching some videos on YouTube out of which you are now losing 40 dollars. It was definitely the wrong decision for you, you could have tried to learn about this before losing $40. You are trying to learn the right thing even if it is late, in this case you must stop trading now and gain different ideas related to trading. When you gain different ideas you can decide to trade again later if you want, the results will definitely be more likely to come in your favor.

As a trader, we don't always rely on indicators for us to trade the market. We have other analysis we need to check before we decide to enter the market. We can keep making consistent profits from the Crypto market that is one of the reasons we keep seeing new traders jumping into the market to learn how to trade.
There is money in trading and we can also lose if we are not careful how to utilize strategies and indicators to trade. It is advisable to always check for latest update from the community of the coin we are about to trade on because that could save us from losses.

Using only one of few indicator won't help a trader make a more accurate prediction. There are other elements that need to be aligned with the indicator to better predict the market. If one of the element is missing, then a trader should be concerned before taking the trade. As an example if a token is rallying up but there isn't much volume inflow in that token market, then its an indication that someone is manipulating the price. Similarly there are some other things that can give a better prediction about the market and only indicators or trendlines were never the only tool to use for crypto trading.

Knowing when a coin will start to rise and become hype is quite simple. You only need to study and understand various analyzes such as technical, fundamental and sentimental. And if you mean some altcoins have hype and have a sudden high rise. Well, usually we can find out about this through fundamental analysis which can be done by gathering information. And actually the crypto calendar is also quite important for us to keep paying attention to. Because usually there are many upcoming events that have the potential to cause an altcoin to increase. Once we start finding news, events and the like that have the potential to build hype. After that, we have to start doing sentimental analysis. And analyze how well market players' sentimental response to the upcoming event. If it is a big event then if we enter early then we can potentially have high profits. It's just that sentimental analysis still has to run so we also have to know when we should sell by analyzing whether the hype has just started or is almost over. If we already understand some of these basic concepts, it is actually quite easy for us to see an altcoin that has the potential to increase. It's just that there are also several altcoins that are suddenly pumped without any news or events taking place. Well, usually analyzing this is quite difficult. Because we also have to understand market inflow and outflow well. And sometimes it's all about how clever we are at following upcoming and trending narratives.

     You can still recover that if you don't repeat the steps you took to explain why you lost $40. You should change your plan. Because the strategy or analysis you used was wrong. The question is, do you know anything about the trading that you entered?

     Because if you're new here, just do the basics first and don't torture yourself. Even if you only use one of the indicators, like the trendline, if you know how to use it, you will surely make a profit if you are patient and don't be impatient as traders.

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.

If you want to trade you can't suddenly jump into gambling. You have to learn analysis and learn timing even then you will lose for a long time and gradually when you gain good experience on your trading you can avoid loss a lot but not old avoid.  Trading is risky like business. In trading you have to buy and sell physical goods and in trading you have to buy and sell digital coins/tokens which are highly volatile.

If you want to trade you can't suddenly jump into gambling. You have to learn analysis and learn timing even then you will lose for a long time and gradually when you gain good experience on your trading you can avoid loss a lot but not old avoid.  Trading is risky like business. In trading you have to buy and sell physical goods and in trading you have to buy and sell digital coins/tokens which are highly volatile.