Topic: advice for a beginner - page 9. (Read 2149 times)

Rushing into trading without acquiring sufficient knowledge and experience will certainly end up like gambling. You can make some profits but definitely, the losses will outweigh your profits and this will continue to exist if you don’t learn even the basics in trading. Beginners are actually not advise to trade, unless they have developed their own skill and strategies and are ready to lose as there will always be inevitable losses most particularly for beginner traders. However, without consistent trading experience, these losses will be lessen while you continue to overcome those risks in trading.

The must thing you should do and dont make yourself that trying to jump in and trying to copy others just because you've seen them to be profitable. When it comes to trading analysis and strategies then its true that you are the only ones who would really be able to formulate on which one would really be something that will really be that effective for you. It would really be a never ending kind of trial and error once you do step
your foot into this market on which we do know and consider that this is really something unpredictable and  there would really be tons of variations that you could see.

If you wont really be that making  yourself that versatile into this market then you would really be finding yourself on having some issues about dealing up those conditions on which it would
be causing up that kind of possible quit up on the time that you do face up some struggle.

This is normal for beginning traders. Just stick to your rules and system that you are learning, overtime you will earn consistency through experience. What you are experiencing right now is normal. You are simply comparing yourself by the results of other people's trading and that's not a good path to follow. Instead focus on your own trading. Those people already find the strategy that fits to them. They maybe are those hold and sell and you don't. So it's irrelevant to compare yourself to them.

Just take in mind that regardless of your strategy, if you have the proper risk management, you will last in this game. Early in your trading, your focus should be on building your experience and not making money.

To become a better version of yourself in the trading world, experience is one key thing, therefore continue to learn each day, avoid being greedy in the market because from my experience, the market always has a way of discipline the greedy players. However, in as much as you are becoming profit there will be a test of time in the market for you, but how would you navigate this?  Always manage risk because this will help you survive space even when during the time of lost, you won't have to incur big loses.

That's trading for you especially if you are beginner, even experienced one will sometimes have unbalance return where they simply feel unlucky on certain day and it's pretty normal for most of the time. Make sure to analyze what makes you lose, if you buy/sell it at the wrong time?, you haven't made any good research lately for your assets?, or just bad luck? There are lot of rooms to improve and I can say that you need more time to actually grasp the fundamental of trading because it's a long journey.

Since trading is not that easy as a beginner I think it will be better if every beginner should take easy and not to be in a rush to make money in trading.  Starting with a small amount to trade as a beginner will really help in learning very well and also help one to avoid excessive lose. Trading is complicated and it is impossible for a beginner to just start trading and be making good profit with no lose, I don't see why one will start trading with a reasonable amount.  Losing big is not a good start in trading, in beginning of trading beginners it is wise not to use huge amount and not to expect so much in trading as a beginner.

A beginner should focus more in learning and not to put every concentration in making money and expecting so much in trading, because the beginning of trading is to have knowledge and experience of how trading works and at this time no need to use much amount of money for trading.

Have you taken any courses? Or were you trained somewhere? You can't go anywhere without training nowadays, and you need more than six months of training to at least understand something about the market.

Correct. That's why knowledge is important before trading or before making a crypto purchase. Because there are so many beginners who just go along or just guess just to try their luck, if this mindset is the same as gambling. Apart from that, many beginners are impatient when trading, they still have a get-rich-quick mindset even though crypto trading is not that simple.

Basically, the best chance of making a profit in crypto investments is to invest in cryptos that have reasonable goals and are easy to achieve. As a beginner, you must also see that crypto developers must have interesting concepts, but must also be able to bring these concepts into short-term and long-term implementation. If a crypto developer offers a great vision and concept for the future, as a novice investor you need to do further research to assess how likely it is for that vision to be achieved. If we have done this, then we will invest in crypto, so we don't invest in crypto just by guessing.

If you start trading by watching youtube videos then you will never be able to influence the market properly. YouTube videos may have been created when conditions were good, so market conditions are not always the same, the cryptocurrency market is always changing. So having your own knowledge is the most important in terms of trading, you can trade using Binance or Kokoin. If you can trade in Bitcoin, Ethereum Coin, and other coins, you will surely profit.

     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.

Did you do it in Future trading? If it's, sorry to say, but this is not suitable for a beginner. Due to future trading, if we take the wrong position, our money will fly away. For beginners, this tends to be more about gambling. So, you need a much deeper understanding before entering into trading in the Future market.

However, if it is trading on the Spot market, then you actually will not lose your money as long as you are still holding the coins. But the problem is what coins did you take? If it is a new coin that is hyped, then it is like game over, the chances of it going up again will be very small. But if it's a top coin, then you just have to be patient until the price goes up again.'

So, make sure that you understand what you want to do. $100 is not a small nominal amount and for me personally it is quite big. For this reason, you have to be more careful before deciding to trade. Don't just follow your friends or other people in trading, because maybe they have more abilities than you. Believe me, study first before entering the world of optimal trading.

at least beginners know how to trade and trading strategies before starting their trading. Many beginners in trading can't wait to trade futures, even without enough experience and knowledge, they just make guesses and try their luck.
For some reason, every beginner I meet asks about trading and investing, their main problem is being impatient and wanting to get rich quickly. whether other friends realize that or not, but they don't know the actual concept of trading.

If you are a beginner trader, expect to lose more often until your capital runs out, that’s the reality in trading. As long as you are still learning the process, then it’s hard to anticipate profits when you are not skilled enough and don’t have clear patterns or strategies that you will use in the market.

I suggest to learn the basics first and try to observe old traders on how they managed their trades despite of the market uncertainty. While experience could be the best teacher, however start it with a demo trading account first before jumping into a real, live trading account.

How do you just learn about trading and start trading with you own money, it means you are confident that you have understood all you have learn during your training. What is expected of you is that you should put the trading into practice and see if you are ready but you aren't meant to use your money. What you should use is to make use of a demo account where you can trade using virtual money or a dummy account, these accounts gives you access to trade in real time without using real money.

You can also check tradingview, register an account where you can get access to paper trading and select any coin of your choice in real time. The advantage of paper trading is that you can use of the chart properly to make use of indicators and draw trendlines properly which is another bonus for you to understand how to make technical analysis. With these, you should be able to minimize your losses when trading with real money.

What did you expect before? You think trading is just what you will start, and you will start making money instantly? No, most people that do learn how to trade do lose a lot of money when they are learning how to trade, as a newbie, just have it in mind that all the amount you will be depositing and trading with, you will end up losing it. But am sure with time when you keep on trading, you will be able to learn new things, and you will be able to add to your experience, the rate at which you are going to be losing money is really going to be reducing, till you also become a professional trader.

If you have the mind set of making money immediately you start trading, then you are going to be disappointed at the end, because when you start trading, you won’t be making profit, so always have it in mind that when you start trading, you won’t be making any profit.

If you can't handle the heat get out. But before you do that, try to trade again with $10 and just cash out your $50.
Because on your end, you're going to have hard time to start when you're disappointed with your first trades because that's normal, you can't really win with your first trades as you're starting out. Most of the trades that you're going to commit are going to be losses and you can't do anything with that but to learn.

You're a new trader? This is my advice. Don't trade at all.
Just kidding obviously.

Your 100$ will be lost that's for sure. It's like "You spent 100$ for additional trading experience", and it's worth it "ONLY" if you continue trading. Watching YouTube videos will help you, but it will not help you mold yourself to a point that you will become a good trader. Yes you can learn Technical Analysis on YouTube, but the thing is, it doesn't teach you how to control yourself or be patient. If you really want to trade, expect that you will spend money in learning just the basics of trading. I don't know if that's the case to everyone, but for me, I lost dollars when I was starting to trade just to learn.

My advice? Don't expect too much knowing that you're still a newbie, but expect that your 100$ will be lost since this is your first time. Just continue trading if you want to pursue it, keep some capital, learn with your experiences, and learn TA as well.

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.

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.

the reason why you lost 40% of your money is that you entered the market too quickly and you didn't study the asset you wanted to trade first. at least you learn first on a demo account and test whether your technical and fundamental analysis knowledge is sufficient to be implemented in the market, then you can enter the market. just remember, anything too fast usually won't last long, so just relax and learn from your experience. no need to be distracted by coins that are growing very fast, just focus on your trading.