Topic: Advice for newbies - page 3. (Read 674 times)

Care to elaborate a bit more on what you mean by "knowing their rules of the game" and how you track the movements of big funds and institutions? I'm all ears!

Whatever type of trader you are, whether a day trader, scalper, or swing trader, it is always best to study the macro time frame to identify what the trend so that in the lower time frame you will know what position you're searching for, a long position or a short position. Moving averages are useful, but they are a little sluggish in my opinion because they just tell you what happened in the preceding candlesticks. Aside from that, we may alter the color of the moving averages based on your preferences, thus I believe the number of MA is better.

in crypto, we don't only learn about crypto and how crypto works, how the market might change, and all aspects related to crypto and trading knowledge. Because trading is actually a complex thing. It's not only about how to take profits, but it's also about things how to manage the risks and your emotions during trading. For newbies, they may not really consider how important the knowledge about risk and emotion management actually is. Trading is high risk, once you cannot manage your emotions, it means ending for all. But, as long as you want to learn about them all, it will be more okay.

I want to believe this advice is specifically for day traders, well, another thing which I personally think is very important is that, aspiring day traders, that is newbies, should know that day trading is not for everybody, you gotta know if trading is what you really wanna do for the love of it, or whether frustration of live is what is pushing you into day trading solely to earn money - then watch it carefully, day trading can make or break you in matter of seconds, most especially for those trading the futures market, futures market is one reserved for already well established and professional traders, do not as a newbie ever go into trading future, you will get burnt out even before you realize what is going on.

Those information mentioned  above and even more are not easy to get. Most of them are not gotten by reading charts or by fundamental analysis. It requires more efforts which includes financial commitment to be able to have those classified information at your disposal.
You may know how the market moves when the whales join, but then you may wait for ever and the market movers won't enter the market. Maybe, whe  you wish to sleep for some minutes, the manipulation would be done and dusted and you will only see the evidence in the chart.
But anyone with classified information would be informed when likely the market movers will join the market and being preinformed, he will be proactive.

You are talking about rules, and you are the one not following it. You should never follow others in order to make your own decision. Copying others does not give you success. In the long run, you become dependent on them. In this process, you will lose your own free will, and you are most likely to get emotional in certain situation. Following the big guys is not always a good idea. Let me explain that for you. The key difference between you and the big guys is assets. They use higher value, while a newbie will use less than that. And your and their plan will still remain the same, but the profit/loss value will have a big difference. In order to reach their position, newbies will use higher leverage and eventually lose instead of making profits.
 
Then there's market sentiment. If you follow big coins and stick to it, then it's all good. But the moment you choose other options, you are in a risk. Many people think that all the other ALTS are connected with bitcoin, which is completely false. Some ALTS moves in the same direction as bitcoin because of market sentiments. If you try to make any connection between ALTS and Bitcoin, it's not possible. So choose wisely. There aren't any certain rules when it comes to funds. The market is uncertain and anything could happen at any time. That's a risk you need to keep in mind all the time. Just because you follow some rules, and they have worked for you in the past, doesn't mean that it will work all the time. Depending on the market condition, rules changes, and you need to create your own rules if you really want to succeed in this platform.

^I smell not good in here, the weather changed when I was reading this at the end.
So tell me, what are the advantages if we know the trading exchange that is used by the whales? All I know is that an exchange that has high liquidity and is very popular will commonly use by the whale. You are giving advice but you are trying now to sell the information you had that I don't think is important in trading. Remember that whales are different from a pump and dump group which I think you need to clarify first.

Wall Street matters on macro scale more but If we talk about shorter time frames like day trading TA indicators needed like moving average specially the sync of YELLOW AND PURPLE LINE Over the chart

You are a equally a newbie as well, so I believe you also need this advice, and your post doesn't seem to be conveying a message; it lacks proper detailed information because it sounds like you are speaking with an experienced trader. It should have been well explained and broken down as if you were demonstrating to novices how to understand the fundamentals of trading, rather than something like Wall Street and the Fed without further explanation.

There are basic rule for every trader, and that is what I think any newbie needs, not this big thing you are calling, is that they can start from there, and when the time comes, as they spend more time in the trading space, they will understand the game better, how to win with the big traders, and likewise, Wall Street's effects on the market.

Here we go again for another newbie sharing advice to other newbie with general infos that is too obvious.

This advice can be easily learned by just watching the wolf of wall street movies and I think that movie is the inspiration of this advice thread. Following money is not easy for newbie especially on crypto since there’s no name on the addresses while the transaction tracking is very hard to follow anymore once it enter on centralized exchange wallet or mixer. This fund tracking advice is not suitable for newbie.

Good suggestion, and you are right. Being a newbie in trading you need to have a lot of knowledge and understand the techniques before you start. Take the time to learn about the fundamentals of trading, including trading strategies, risk management, and technical analysis. First, determine how much amount /capital you have spare or surplus to invest, that’s because you might face losses if some of your decisions are not good. Create a well-defined trading plan and your goals, that outline your strategy and risk tolerance. Trading is an ongoing learning process. So stay updated with market news, follow experienced traders views, and regularly evaluate your trades to identify areas for improvement with paper trading. Also, join different forums and communities to improve your skill towards trading and market analysis

FIRST, do you Even know what exchangers whales use ?
I know and i watch them but off course i don't give out this info for Free.
If i tell everybody what i know then how i can be special anymore ?
If you go to School you pay for it you take course u pay for it.
I did get for free all this knowledge...so off course i cant share this knowledge for Free either.

Knowledge is really important in trading; it is your ability to survive in all market stages. You can take self-learning if you wish because there are many ideas available for free on the internet, but it takes time to implement on your own. If you want to learn quickly, you can join a mentorship program, but only if you choose genuine mentors. The advantages are that the mentorship cost is fairly cheap in comparison to the potential losses if you enter the crypto market without sufficient information. Aside from that, you can also learned from them about how institutions works in the market and this is quite an advance learning.

Agreed, the whales and other institutional investors will never reveal their hands, in fact when they do we should assume they had achieved their objective already and what they are doing is trying to manipulate the retail traders to move as they wish, traders instead should concentrate on what they can control, like performing their strategy as they should and have a good money management strategy, instead of trying to rely on information they will never get access to unless they became whales as well.

Easy to say about following those whales or institution to make their move. But how can we do that since its hard to find real time news about them moving their balance to exchange or what they would do since for sure all their movements is secret and we would know about their updates once they are done selling or buying.

Maybe its good for newbies to find out which method will work for them since its important that they can develop some strategy that can help them.

I'm sure it's not that easy, because what you suggest certainly requires an extraordinary focus on media or anything related to your market and assets. it may only be done by those who do day trading. but I still don't really believe merchants will put too much thought into it all.
after all how to see whales with big capital move their money? if the odds find out, I think we'll be too late in following a trading situation that might just go by too fast.

Yes if you will trade by technical analysis. Because there are some people who trade only via fundamental analysis, some of these people are trading based on news and current events. But I don't like it that way.
Trading for me required technical analysis and here comes studying of indicators and different tools to trade.

There's a lot more to add if it's advice for beginners. They must have the capital to start trading because, without capital, they will not be able to trade and make a profit.

You also have to study the indicators on the market so that you can analyze and determine when to trade. You can follow their game but you better know what to do because you can't always follow the big guy.

And don't forget not to be greedy in taking profits because that can make you lose opportunities to take profits. It is better to close a trade with a clear profit than to wait for a bigger, uncertain profit because it can make you lose.

Thorough knowledge of crypto is something that we really have to master before we really enter the crypto market, be it for trading or investing. Therefore, we have to study it first, whether it's learning from someone who first entered the crypto world, or from the internet, which now contains many articles about this. But the problem is, usually beginners ignore it all, they only focus on profits without them knowing what they are really doing and that's what makes them take the wrong steps in the end.
We have a lot to learn here, and it will take a long time to really understand it very well, it takes patience and perseverance to be able to do it.

You have learn about them you can Do it online but not just that you need to have connections or mentor who will show you atleast what indicators to follow.
You got to connect with full financial people If you wish you can find them.