As newbies we should know the significant risk in trading

knowngunman

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Quote from: DarkState on May 14, 2024, 01:51:49 PM

Can you elaborate on this? Do you have any personal experience of this? I mean I want to know how emotions can impact trading? And how do you control your emotions when trading?

This question is a very vital one for anyone interested in trading. You need to understand what emotion is and then you can assume how it affects our trading and how to control it. Emotion is the psychological state of our mind and it plays a greater role in our lives as it contribute to every action and reaction we carried out. It's something that both experienced traders battle with also, not only the newbie traders.

It impact our trading since it has influence over our decision making. Some time we we take impulse decisions regarding our trading either due to the fear of losing and sell at unfavorable price or refusing to sell at appropriate price because of our greed to make more profits and or enter into trade with overconfidence without risk management probably because of our previous trade that was successful. All these are examples of how emotion can impact our trade.

To tell you the truth, we can not completely trade without being emotional but there are some practice that can help us to minimize it impact. First thing to do is to set targets and goal before you venture into trading and outline the strategies you intend to use to achieve your goals. Discipline yourself in order to stick to your set plans and above all, take a break when things are getting too difficult so you can clear your mind and reflect on your mistakes, then restrategize.

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Quote from: Sakanwa on June 11, 2024, 08:41:47 PM

Quote from: Cadaver20 on June 11, 2024, 06:19:37 AM

It is better not to start trading for newbies. Because there are many things to know and learn in trading, i.e. to gain knowledge. Just acquiring knowledge is not enough for trading. It is very important to spend some time here and gain practical experience. Many people follow different trading signals. I think you should do your own research without blindly following any signal.

I disagree with you on this,that a Newbie should not start trading or think of trading.When do you think it's the right time to trade if not now? It is better to start it now,than to hold on till a certain period of time.They used to say experience is the best teacher,it is better to start making mistakes now,and learn from those mistakes you've made, because that is the only way you can become more better.The mistakes you make will push you into researching more,learning new strategies you will use for the next trading,and calculating your next line of action for the project you need.If not now,when will it be?

@Cadaver20 suggests that rookies will lack sufficient trading knowledge, it is preferable that they learn first before engaging in trading. Trading is not an easy process, and if you know much about trading, you will realise that it is not straightforward. You must focus extremely well before you can start selecting form from it, therefore I don't see any reason why rookies should not start putting money into trading; they should learn first before taking risks. Because it is fine to take risk, but before you take it, you need understand the method first before you start so that you can minimise your risk. In my opinion, it is preferable to study lean first before trying because he can't favour you when you make mistakes because you make mistakes and you don't know where your mistakes came from since you don't have knowledge and you try to risk. am sure you will never know your correction expect you go and learn about it first.

they don't have a right time to trade but is very important to make a research first before you start to trade you can't just jump to trade without any understanding you will never succeed on it mistakes is a part of leaning, because you will correct your self and avoid mistakes for another one, when you are learning that is the time They don't have a right time to trade, but it is very vital to perform a research first before you start to trade. You can't just leap into trading without any understanding, and you won't succeed. Mistakes are a component of learning since they allow you to rectify yourself and prevent making the same mistake again. When you learn, you gain experience. Some rookies are afraid of losing their money, which is why they prefer that they understand thoroughly before committing to it.

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Quote from: CODE200 on June 09, 2024, 12:34:53 AM

I'll fix it even more, if you're a newbie and you don't know a bit about trading then I'd suggest that you shouldn't consider trading without at least learning something about it, learn the basics first before anything, remember that the risk in trading is so high that it would be really stupid if you just trade without doing anything good on your end that would prepare you for what's to come. If you can do it, find yourself a mentor that would help you in your trading journey, never traverse that trading journey alone, always ask for help, it's never wrong or stupid to do that, in fact, that's actually the right and correct thing to do in such occasions anyway.

With the advent of the internet and the freely accessible material over it, one doesn't need a mentor anymore to learn basic things unless they don't have a mind that is able to grasp ideas on its own and requires someone to feed them manually by repeating the same thing again and again or maybe using some method that can make them memorize or understand the concepts but then again, this market is too complex for such people and they will only lose their money if they try.

One needs to have a sharp mind and quick thinking and grasping abilities and they wouldn't need a master or a mentor to learn anything be it trading or anything else in general. They can learn everything from the internet these days and it is completely free, they wouldn't need to pay a dime for it.

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Quote from: Sakanwa on June 11, 2024, 08:41:47 PM

Quote from: Cadaver20 on June 11, 2024, 06:19:37 AM

It is better not to start trading for newbies. Because there are many things to know and learn in trading, i.e. to gain knowledge. Just acquiring knowledge is not enough for trading. It is very important to spend some time here and gain practical experience. Many people follow different trading signals. I think you should do your own research without blindly following any signal.

I disagree with you on this,that a Newbie should not start trading or think of trading.When do you think it's the right time to trade if not now? It is better to start it now,than to hold on till a certain period of time.They used to say experience is the best teacher,it is better to start making mistakes now,and learn from those mistakes you've made, because that is the only way you can become more better.The mistakes you make will push you into researching more,learning new strategies you will use for the next trading,and calculating your next line of action for the project you need.If not now,when will it be?

I don't mean current market conditions. I want to say that it is not right to join crypto trading without knowing anything. Our hard earned money will be lost. So some research should be done before trading. Because the objective of all of us trading is to earn profit. Our aim is not to lose and learn from it.

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Quote from: Cadaver20 on June 11, 2024, 06:19:37 AM

It is better not to start trading for newbies. Because there are many things to know and learn in trading, i.e. to gain knowledge. Just acquiring knowledge is not enough for trading. It is very important to spend some time here and gain practical experience. Many people follow different trading signals. I think you should do your own research without blindly following any signal.

I disagree with you on this,that a Newbie should not start trading or think of trading.When do you think it's the right time to trade if not now? It is better to start it now,than to hold on till a certain period of time.They used to say experience is the best teacher,it is better to start making mistakes now,and learn from those mistakes you've made, because that is the only way you can become more better.The mistakes you make will push you into researching more,learning new strategies you will use for the next trading,and calculating your next line of action for the project you need.If not now,when will it be?

Cadaver20

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It is better not to start trading for newbies. Because there are many things to know and learn in trading, i.e. to gain knowledge. Just acquiring knowledge is not enough for trading. It is very important to spend some time here and gain practical experience. Many people follow different trading signals. I think you should do your own research without blindly following any signal.

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Quote from: Bravut on June 10, 2024, 10:46:19 AM

True, also as newbies they should also know about the possibilities in Trading and should not be feed with fear and risk always.
The only advise I can give is whatever they wanna get involved in, firstly information should be sought first before thinking of earning from it and should not act out of pressure or media influences, but every move be calculated, as risk cannot be eliminated but be Reduced implying accept and build on the risk.

Beginners shouldn't venture into features trading at first if they must trade they should start with spot trading. Talking from personal experience, when I started my crypto journey I had money kept aside for my investment in bitcoin for a long hold and another money specially dedicated to spot trading. I was making progress with my trading ability in the spot section, though I didn't just start immediately, I had time spent in gathering knowledge from books and YouTube videos. From all the articles I read they all advised that before you trade features you should begin with spot. Spot is not as risky as features, for me any newbie that has sound knowledge about trading can go ahead and trade. Every professional trader you see today started from somewhere. If you don't trade you won't have trading experience which is very vital.

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Quote from: CODE200 on June 09, 2024, 12:34:53 AM

I'll fix it even more, if you're a newbie and you don't know a bit about trading then I'd suggest that you shouldn't consider trading without at least learning something about it, learn the basics first before anything, remember that the risk in trading is so high that it would be really stupid if you just trade without doing anything good on your end that would prepare you for what's to come. If you can do it, find yourself a mentor that would help you in your trading journey, never traverse that trading journey alone, always ask for help, it's never wrong or stupid to do that, in fact, that's actually the right and correct thing to do in such occasions anyway.

There’s really nothing wrong with getting a trading mentor, even if it means it will cost you quite an amount. If you want to invest with your knowledge, then pay the price. At the end of the day, you will be the only one to benefit if your mentor has made you a successful and profitable one.

While getting a mentor is good, but if you can learn on your own through different videos from various recourses, that would be a lot better. It’s only yourself who can tell as to where you can learn a lot and more effective. One thing is certain, before you will achieve your target goal, you should learn to exert a lot of effort and patience first.

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Quote from: Skfox on May 14, 2024, 01:21:20 PM

As newbies there are lots of things we need to know and work along with. As a newbie, it is expected that one must realize that trading comes with significant risk which can lead to loss of income or finance. Therefore in order not to loss money, it is important to know the risk in trading and how to avoid being prey to losing funds.
We can be on a safe side if we observe and follow these tips when trading:

- As a newbie, it is needed for one to have sufficient information, not just sufficient information but accurate information because insufficient or inaccurate information may land us to loss of finance. Having accurate information is very important so as not to loss money.

- Another important thing to know is the volatility of the market because not being able to predict price fluctuation may lead to unexpected loss of income. It is vital for a beginner to know this.

- Knowing when to buy and also when to sell Is also important because the aim of trading is to make profit, so it is advisable to know when to buy and also when to sell so as to make profit.

- Being greedy is not good when it comes to trade because greed can lead to over trading i.e excessive buying and selling of assets which can lead to loss of income but sometimes you may gain due to luck

- As newbies, we should avoid using borrowed capital in trading thou it is vice versa, we can either gain or loss. So extreme caution is needed.

- Making decisions out of emotion can cause great loss in trading. For one to gain profit in trade, he must make wise decisions without fear or greed.

It is very important to understand and know how to manage the risk involved in trading, so with proper risk management, well trading plans and proper education we can trade and make good profits.
Am open to learn, if there is any point am missing please your opinion is needed.

I think most traders especially the newbies always have the problem of when to buy. This has become a big challenge and one need to try as much as possible to look for the answer before losing funds in the market because they don't know when to buy and when to sell. Selling can also be a challenge to other traders in the market because they don't actually understand what's happening in the market. Before we ever decide to sell, we need to have a clue of what's about to happen in the crypto market. If we don't have a clue, we might be surprised of selling at the wrong time, maybe when the price is about to shoot high.

Bravut

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True, also as newbies they should also know about the possibilities in Trading and should not be feed with fear and risk always.
The only advise I can give is whatever they wanna get involved in, firstly information should be sought first before thinking of earning from it and should not act out of pressure or media influences, but every move be calculated, as risk cannot be eliminated but be Reduced implying accept and build on the risk.

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Sometimes I used to wonder why newbie are always too inquisitive into Bitcoin investment instead of them to settle down and do research on the risk that are involved in the investment they we just conclude that they knows everything about Bitcoin investment, although that's what is making them to fall victims most of the time because they didn't want to learn very well before venturing into Bitcoin investment.

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In my own opinion, I think before a newbie will go into trading, let them know the rules and regulations governing it, that is know the risks and the benefits it involves in gambling, so that we won't be a victim of any circumstances that is to said, we won't be losing more money and we will know when to trade and when to withdraw as well and trading is not something we can just benefit from easily because we can't actually predict how the market will turn out to be just like gambling.

That is why we should first study to have the knowledge and the understanding of crypto before we trade or invest, that way can really be of help to us and we should also ask questions to the investors who are of more experience than us in anything we don't understand and also we should do more of research to also help us.

CODE200

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I'll fix it even more, if you're a newbie and you don't know a bit about trading then I'd suggest that you shouldn't consider trading without at least learning something about it, learn the basics first before anything, remember that the risk in trading is so high that it would be really stupid if you just trade without doing anything good on your end that would prepare you for what's to come. If you can do it, find yourself a mentor that would help you in your trading journey, never traverse that trading journey alone, always ask for help, it's never wrong or stupid to do that, in fact, that's actually the right and correct thing to do in such occasions anyway.

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Quote from: Franctoshi on June 07, 2024, 10:53:42 AM

I wouldn't advise any newbie to start trading Immediately with your money, As a newbie, the very basic things you need to do is learn and gather lots of experience, study the reason 95% of traders lose money, which majority of them are stated in Op, and allow them stick to your memory and then avoid those mistakes when you must have started trading, this way you will have higher chances of becoming a successful trader over the long run as other things you would apply in your trading journey will now come from experience when you must have started trading, whereas psychology plays an important role in trading.

Experience is the best teacher and we should be careful when it comes to the market, any slight mistakes will definitely cause us money. Trading and investment in the market can be smooth for those of us that have good trading skills and know basically what we're doing. Newbies don't rush into trades but always consider themselves to be doing upright tasks and voluntarily triggering trades that seems promising and favorable for themselves.

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Quote from: SOKO-DEKE on June 08, 2024, 04:21:17 PM

Quote from: Ojima-ojo on May 14, 2024, 01:57:38 PM

One approach I adopted as a newbie is to stay away from trading at all means because i already know that the risk in trading is equivalent to the risk in gambling, and most of those that ever make profits from trading also recorded alot of loses that could possibly outweigh the profits amount.

Honestly, trading involves a lot of risk, but the truth is that people are still making money from it. So, I don't think it's bad if newbies want to learn about trading. Everyone you see making it from trading also started as a newbie. However, newbies should not just jump into trading without learning much about it.

For instance, in the crypto industry, I don't expect any newbie to start trading immediately they get to cryptocurrency industry. If they do, they may not stay long in the cryptocurrency industry and might become discouraged because they could possibly lose all their funds. This is because trading is not for those who lack knowledge.

Well said My dear Friend, trading entails a lot of risk And should be Handled with Care, newbies are not advised To jump into trading without taking their time To understand deeply the strategies that are involved in trading And the possible measures To ameliorate the adverse effects of risk.however, as newbies we should sincerely understand the importance of risk in trading so we can know the best approach or strategies to tackle them. Risk is a chance of loss and in trading risk is inevitable because loss is certain to occur in trading so it is of utmost importance that we know the necessary risks that are associated with trading before we can engage in it.

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Quote from: Franctoshi on June 07, 2024, 10:53:42 AM

I wouldn't advise any newbie to start trading Immediately with your money, As a newbie, the very basic things you need to do is learn and gather lots of experience, study the reason 95% of traders lose money, which majority of them are stated in Op, and allow them stick to your memory and then avoid those mistakes when you must have started trading, this way you will have higher chances of becoming a successful trader over the long run as other things you would apply in your trading journey will now come from experience when you must have started trading, whereas psychology plays an important role in trading.

Newbies are not reliable in their first trades simply because they are not actually made to trade at an instant. Trading requires a lot of time learning and understanding the nature of trading, one reason that newbies are not supposed to rush into trading but focus more on accumulating knowledge and new insights first prior to taking risk in trading. Otherwise, if we’ve seen newbies get into trading, that only means that they are not here to learn intentionally, but only to make quick profits from trading. The reason why majority of newbies lose in trading than making profitable gains.

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Quote from: Ojima-ojo on May 14, 2024, 01:57:38 PM

One approach I adopted as a newbie is to stay away from trading at all means because i already know that the risk in trading is equivalent to the risk in gambling, and most of those that ever make profits from trading also recorded alot of loses that could possibly outweigh the profits amount.

Honestly, trading involves a lot of risk, but the truth is that people are still making money from it. So, I don't think it's bad if newbies want to learn about trading. Everyone you see making it from trading also started as a newbie. However, newbies should not just jump into trading without learning much about it.

For instance, in the crypto industry, I don't expect any newbie to start trading immediately they get to cryptocurrency industry. If they do, they may not stay long in the cryptocurrency industry and might become discouraged because they could possibly lose all their funds. This is because trading is not for those who lack knowledge.

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Quote from: Distinctin on June 07, 2024, 03:59:07 PM

Quote from: Franctoshi on June 07, 2024, 10:53:42 AM

I wouldn't advise any newbie to start trading Immediately with your money, As a newbie, the very basic things you need to do is learn and gather lots of experience, study the reason 95% of traders lose money, which majority of them are stated in Op, and allow them stick to your memory and then avoid those mistakes when you must have started trading, this way you will have higher chances of becoming a successful trader over the long run as other things you would apply in your trading journey will now come from experience when you must have started trading, whereas psychology plays an important role in trading.

Trading is certainly not for newbies as they can only be more susceptible to losses and mistakes. Let them explore first on the basic knowledge and skills needed in trading the market so that they can set a lot of time learning and preparing theirselves on how to be potential traders. While trading can attract faster and bigger profits, but that will only be possible for professional and reliable traders, but beginner traders have definitely a lot more to learn before they can be successful and profitable in trading.

You're right trading is very risky More especially for newbies because it takes a lot of time before you can learn and understand how trading works, because not everyone who can be patient enough to learn and understand how crypto trading works. that is why I don't always advice people to go into crypto trading more especially those beginners, because I know most of them can not be patient enough to learn about how trading works before looking out to start trading. most of them probably after getting a little knowledge about how crypto trading works they will just dive into crypto trading hoping that they have gotten all the necessary information about trading, this is why most of them always experience lose in trading.

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Quote from: Lukmanfirdaus1 on May 24, 2024, 09:57:08 AM

or.... as newbies we don't trade, even pro players still have the same potential for loss as newbies, especially in the crypto market. fundamental technical analysis or whatever it is called, losing to 1 reliable influencer...lol...because the risk of trading is very high if I don't do it. but of course we still do it, because there is hope of making millions of dollars overnight, but in reality we are whale food. but if you are willing to be a pound meal, that's okay Grin

This is what happens if the price of BTC is also shaken to go down. The most deterrent are those who trade altcoins, in this case meme coins. If it goes up for a long time, if it goes down quickly and is always correct with the BTC correction, on average you can lose up to 50% of your initial capital, especially if you catch up and buy when the price is pumped.

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Quote from: Lukmanfirdaus1 on May 24, 2024, 09:57:08 AM

or.... as newbies we don't trade, even pro players still have the same potential for loss as newbies, especially in the crypto market. fundamental technical analysis or whatever it is called, losing to 1 reliable influencer...lol...because the risk of trading is very high if I don't do it. but of course we still do it, because there is hope of making millions of dollars overnight, but in reality we are whale food. but if you are willing to be a pound meal, that's okay Grin

However, professional traders start out as amateur traders with little experience, but over time, with determination and a strong will, a beginner will turn into a professional. The point is to stay consistent and be lazy about learning because not a single trader graduates from trading, every time there will be new knowledge and usually traders who make consistent profits are those who have good management and also good instincts. Gambling is different from trading, because when you gamble, all you need is luck, while for trading, you need good analysis.

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