As newbies we should know the significant risk in trading - page 3.

hd49728

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Quote from: kawetsriyanto on May 16, 2024, 02:19:22 AM

Yep. It will be less risky as long as newbies use small funds.

Newbies can have big or small capital but the advice is newbies should use small part of their capital to start. It's always easily to lose when a newbie begins in either investment or trading. Investment is less risky than trading but there is still risk to lose money like don't know how to back up a wallet or recover a wallet, carelessness when typing address for a transaction and scam risk.

Start to learn and practice with small part of capital is a safe approach for all newbies.

Quote from: hd49728 on May 15, 2024, 11:08:21 AM

Both trading and investing are risky. If trading isn't for newbies, how newbies can start trading? I think it is no problem to start trading although we are still newbies. But we must ensure that we learn and understand the basic things about trading firstly. The key point is to have sufficient knowledge first before starting trading. Wink

Newbies can start trading any time but I meant it's safer if newbies begin with investment, experience the market with investment and after months or one to two years, with enough experience and understanding about the market, newbies can start trading. It reduces risk of loss in trading for newbies.

Kristiyana

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However knowing the significant risk in trading and how we go about them is two different things, reason is because most of the newbies knows about the risk that is involved in crypto investment, but knowing how to go about this risk is where the problem is. probably most of them can go with it the wrong way, that is why is good to get all the necessary information about crypto investment before looking out to invest. because even if you know about this risk, if you don't understand the market very well there's no way you're going to escape from those risk either.

Taskford

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Quote from: Upgrade00 on May 14, 2024, 01:26:42 PM

How about not trading at all as a newbie.

Trading has been marketed as a way to make income remotely with a few success stories used as motivation for others, but those who lose from it far exceed those who make a net profit. If you've never had an interest in trading markets and trading currencies do not jump into it simply cause you have a laptop and can consume information about how to analyze charts.

Exactly they should not come with this option if they don't know everything about trading yet since they might commit a expensive mistake that would be a eye opener for them to do more research about the important points that they need to look for.

So instead of thinking about gaining experience thru their trades which they rush everything since what this people think is they can earn a fast cash their, best for them to do further more research about trading and also seek for some important information like experiences of people on their trades since they can learn a valuable lessons which they can apply for theirselves to avoid to commit huge mistakes. Also I agree that they should not jump immediately on trading but rather they focus to build theirselves bringing up some good knowledge since this could help them to eliminate those big risk and can turn their possible trades into good ones especially if they have already great understanding on every happening on the market.

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

- 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.

IMHO, it boils down to this importance factor for all traders, the emotions that we have. Yes, that simply it is when we trade and it doesn't matter even if you are a profitable trader but you are letting your emotions put you down and you're not remembering the plan that you have started and just go with it until you're finally done and profitable. There are good traders that are turned down by their own emotions and even their profits are also affected by it because they cannot control what they have in their minds. It doesn't have to be too genius for one to take profits in trading but as OP said, I agree that it only takes a wise decision maker to retain your positions and the same goes with your profits.

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Quote from: hd49728 on May 15, 2024, 11:08:21 AM

Newbies need to start with things that are less risky but safer and more easily to control.

Yep. It will be less risky as long as newbies use small funds.

Quote from: hd49728 on May 15, 2024, 11:08:21 AM

With this principle, let's see trading and investment. I am sure investment is less risky, safer than trading and it's my recommendation for newbies.

Both investment and trading can be less risky if newbies know how to minimize the risk. One of the ways is to use small funds and choose recommended coins. However, before starting trading or investing, newbies must understand the basic things at least. So, they can do trading or investing in a proper way.

Investment can be riskier if newbies choose random coins and use big funds. There is no term of safe thing in crypto. Each coin is volatile, even stablecoins also fluctuate. How to make it safer, it purely depends on how we do it. We must understand how to deal with the volatility, scams, and the unpredictable market condition.

Quote from: hd49728 on May 15, 2024, 11:08:21 AM

Trading is risky and it's not for newbies in this volatile market.

Both trading and investing are risky. If trading isn't for newbies, how newbies can start trading? I think it is no problem to start trading although we are still newbies. But we must ensure that we learn and understand the basic things about trading firstly. The key point is to have sufficient knowledge first before starting trading. Wink

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There is so much money to be made from trading, I get it, that's why many newbies rush into trading, but honestly, trading is not for crypto beginners, many beginners lack the funds to invest and trading is best for someone who makes daily income somehow because they will be able to use a small percentage of their earnings to practice trading.

It is going to be a long way journey to know trading, which is why I can't recommend it to everyone, it is better for Newbies who have money to invest in Bitcoin and while they are holding the Bitcoin they can start learning trading and other things too, investment is easier than trading.

If you end up knowing how to trade you will make good amount of money in a short period of time, and there is no such thing as day trading in my book, some do this but mehn, it is way too stressful, and you will also make less money, the best traders trade only when there is confirmation in the charts and they long or short using the stop loss feature.

All these can't be rushed as a beginner, you need a lot of time to learn it all.

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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.

Being a newbie has been experienced by many people here. And as a result, there are those who really continue, are consistent and become professionals, but there are also many who fail and no longer believe in trading or doing business in crypto. This will depend on each effort and the method carried out by the newbie. Moreover, their basics will also influence the results, do they only have the basics without knowledge and rely on following other people, or are they competent enough to learn first in order to prepare their trading skills?

Even though it is not optimal and not that good, at least having good initial knowledge will later build their competence further, by learning by doing, evaluating in stages and continuously, as well as risk management from the start which can also be built on financial management and emotional maturity. . This is quite complex, yes because crypto trading is also a complex thing. so you really have to be prepared.

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Quote from: Dunamisx on May 15, 2024, 09:46:35 AM

If you're a newbie and cant afford to take risk, then don't trade, go for learning first and make use of that opportunity in acquiring the required knowledge needed for someone to start a trade, trading is meant for those who can be able to adapt a market change and its corresponding challenges, because we do lose on trades, sometimes we also make profits as the situation may be within the kind of trade we are going for.

And before newbie should even think of start trading he or she should know the proper steps to follow before even consider trading not that trading is that hard you just need to be consistent in trading when you know all the steps to take. You will find trading interesting even if the profit have not started coming. Just because of that interest you have. They whole thing will be driven buy how interested you are and how hungry you to learn. A lot of people are not really ready to learn all they are after is the profit and you must learn before that profit.

Aside the profits you have to prepare your self emotionally, because the market is always not stable and we all know that analysis can fail. And if things are nothing going as planned then we are going to be have problems because the trader will easily get discouraged, it’s better to be prepared emotionally before trading.

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

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.

After a long time, I am reading such posts as before many newbies used to make such posts with no good points in them, I don't mean to go hard on you dear OP, it's just the points you have mentioned are so obvious that everyone knows them. Everyone knows in order to make a profit they have to buy low and sell high. The mean when to buy and when to sell points are out of context or are not explained well here. Although the tip of not being greedy is a good one.

Because many newbies become greedy, i.e if they made some profit by luck or the market was bullish on that day, and as they traded more and more, the market changed its behavior but you as a newbie did not get it, and become more greedy make more profit and end up losing it all that you have made till now. It's quite hard to realize the volatility of the market, as there are fewer tools that newbies know of when they start and they are unable to realize the volatility, although, even experts can't predict the level of volatility and end up losing it all. The points you have aforementioned are the ones that are the characteristics of a experienced trader so I don't think we should expect the same from newbies as for newbies it might be hard to adopt these.

hd49728

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Quote from: Ruttoshi on May 15, 2024, 09:50:24 AM

Why should a newbie who is new into crypto go for trading instead of investing. It is a norm that traders are bound to run at loss even as professionals, when they make a little mistake in their decisions when trading. Trading is very risky and should not be seen as something anyone can make money from easily.

Newbies need to start with things that are less risky but safer and more easily to control.

With this principle, let's see trading and investment. I am sure investment is less risky, safer than trading and it's my recommendation for newbies. Trading is risky and it's not for newbies in this volatile market. High risk high return will be saying newbies hear a lot but if they follow this, go with trading, their endings will mainly losses, not profit and their capital will vanish with time.

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Quote from: Ruttoshi on May 15, 2024, 09:50:24 AM

Any newbie that wants to trade should first invest into bitcoin while he continue learning how to trade. It is good that as a trader, you use only the amount of funds that you can afford to lose, so that you can gain knowledge amd experience in the market, because trading is not a guarantee of making profit. In fact the guarantee is running at loss is very high compared to making profits.

The real guarantee of profit when investing in crypto is patient and long-term. However, this is the most difficult to wait and on average everyone wants to quickly get a profit even though they spend 70 days trading and see where the market is going. For risk, I think everyone understands, whether new arrivals or old arrivals, they can also lose rather than win, but the dominance is prioritized so far, if we look at it.

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Why should a newbie who is new into crypto go for trading instead of investing. It is a norm that traders are bound to run at loss even as professionals, when they make a little mistake in their decisions when trading. Trading is very risky and should not be seen as something anyone can make money from easily.

Any newbie that wants to trade should first invest into bitcoin while he continue learning how to trade. It is good that as a trader, you use only the amount of funds that you can afford to lose, so that you can gain knowledge amd experience in the market, because trading is not a guarantee of making profit. In fact the guarantee is running at loss is very high compared to making profits.

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If you're a newbie and cant afford to take risk, then don't trade, go for learning first and make use of that opportunity in acquiring the required knowledge needed for someone to start a trade, trading is meant for those who can be able to adapt a market change and its corresponding challenges, because we do lose on trades, sometimes we also make profits as the situation may be within the kind of trade we are going for.

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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.

If all the newbies stay away from trading, then we will no longer be able to see traders in the future, so instead of giving advice to these newbies to stop dealing with trading, it is better for us to be able to give them a few tips and tricks so that they understand more about trading. It is true that trading is quite risky because one can lose their money, but everything in this world has risks, and it is our choice whether to take that risk or not. So there's no harm in getting involved in trading, but of course it all requires preparation, a newbie can learn what instruments they want to choose, what is the best strategy, how to stop-loss, determine entry-exit, etc. - if this is done I think that their potential losses in trading will be minimized.

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

- 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.

Maybe you could also explain what kind of information is sufficient and accurate. it will be more helpful for beginners in starting their trading.
We must distinguish accurate information from signals.

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- 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

traders who tend to be greedy means they have not been able to plan their trading.

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- 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.

not only beginners, but all traders should avoid it. borrowing to trade is more likely to be like gambling. you have the pressure of the money you use and you are required to make a profit. If your situation is a loss, then the risk is double.

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

- 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.

That's right: buy low and sell high Roll Eyes

you can't lose that way.

If you find an infallible way to time the market be so gentle to tell us, because predicting short-term fluctuations is like gambling IMO. Better advice would've been hodling long-term, but even that doesn't guarantee you success as the future is uncertain.

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Knowing about what trading is,is not just for Newbies,it is for Everybody, because I believe as long we still fall victim of lose,we should still go back to try to learn more about trading.And as for Newbies who literally know nothing about it,they have to be frequent in the trading board and be very active in the discussions there,by so doing,they will know the different strategise which one can use in trading and it will work.They say experience is the best teacher,he who is informed,and knows what to do as in regards to trading,will always be on the winning side.

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Trading will never have only positive results; more often, it will be the other way around. And until you calmly respond to your mistakes and formulate your own strategy, you may be impulsive, making stupid moves. Prepare yourself for some losses; without them, there is no experience and no work on mistakes. However, even your developed strategies often work in vain, so the importance of self-control often works for a trader’s success.

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A new trader needs to be very careful while trading because if he has no experience in trading he may face various losses in the beginning and if he does not select the right coin he may face maximum losses while trading. That's why a trader has to take care of various ancillary issues of trading, he has to trade in the right market, trade on the right coin, can't be overly greedy, must have the ability to control emotions. Moreover, there are many other things that a newbie should not go into trading without mastering.

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Quote from: Upgrade00 on May 14, 2024, 01:26:42 PM

How about not trading at all as a newbie.

Trading has been marketed as a way to make income remotely with a few success stories used as motivation for others, but those who lose from it far exceed those who make a net profit. If you've never had an interest in trading markets and trading currencies do not jump into it simply cause you have a laptop and can consume information about how to analyze charts.

Look for less risky means of earning that are available and follow proper investment guidelines

Couldn’t agree more. As a newbie, learn not to take risk in trading because obviously that will only turn into a loss. But rather, invest and hold, aside that it’s less risky, the experience and skills are not actually a big deal as long as you know the basics in buying and hodling safely your coins. However, continue to study trading and learn from the experiences from those successful traders. You will make use of it when you decide to trade in the future.

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