Topic: AVOID trading at all costs, unless.... (Read 930 times)
… have self-control. The expectations of obtain short-term profits make the trading world attractive, and they think it is easy. But you learn from the experiences and in this world that means losing. To avoid this, newbies should target platforms like MintMe that implement new forms of crowdfunding coupled with the possibility of create and trading tokens growing from the beginning.
I totally agree with you. New people will often find it difficult to understand how to make a lot of profits and often they have a lot of accounts burned.
Therefore, hold is best for new people, especially with Bitcoin. easy profit, not too much pressure in trading.
Therefore, hold is best for new people, especially with Bitcoin. easy profit, not too much pressure in trading.
The only pressure is when you see bitcoin fall and still fall in a day
That will make you stress and hard to find a solution to prevent a big loss. But if you believe in bitcoin, you will get the opportunity to buy more bitcoin at that time so you will not miss the chance. The hold could be an option to wait for making a profit in the future, but that depends on how strong that person can hold his coins.
Just so you know, I will lock this thread to avoid parrotic bots from posting.
Thanks for your attention.
Thanks for your attention.
...unless you have some skills from the financial world that you can transfer to crypto.... and even that, NOT SURE.
Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
I some what agree with your advice unless there is no much experience one should not just jump into trading. To get experience there are platforms which offer Test net and also paper trading where we can trade like a really market but do not actually play with actual funds.
Also, for any trader it would be great if one is able to trade with control on greed and emotions.
I would disagree with the thread title because every trader has to start somewhere. Because this cryptocurrrency trading became lucrative, being anti to that is alright if you have you own reasons for that which anybody would respect. But for those who are willing to trade and take that risk for them such topics are useless.
Being a pro/experienced in wall street trading which happened before crypto came into existence of this epic proportions, would actually help the trader. For newbies its good to go through basic fundamentals of trading and how the market psychology works. Then do some dummy trading before jumping into the real things.
Bottom line is that trading is not something that would make you rich a short time span. It needs practice dedication and a lot of homework with a lot of mistakes being done. After that is it upto the learner to decide whether to continue or leave.
Being a pro/experienced in wall street trading which happened before crypto came into existence of this epic proportions, would actually help the trader. For newbies its good to go through basic fundamentals of trading and how the market psychology works. Then do some dummy trading before jumping into the real things.
Bottom line is that trading is not something that would make you rich a short time span. It needs practice dedication and a lot of homework with a lot of mistakes being done. After that is it upto the learner to decide whether to continue or leave.
Unless you are not the type of people who easily gets affected by fud and fomo. Trading is for people who can control their emotion properly, plan their trades ahead and make countermeasures when things goes wrong. People who are also willing to risk their money in a volatile market.
I totally agree with you. New people will often find it difficult to understand how to make a lot of profits and often they have a lot of accounts burned.
Therefore, hold is best for new people, especially with Bitcoin. easy profit, not too much pressure in trading.
Therefore, hold is best for new people, especially with Bitcoin. easy profit, not too much pressure in trading.
Many new traders think that trading is very easy and making money through trading is the easiest thing to do in the world. This is surely not true. Trading is as difficult as any other business or work and it requires dedication, knowledge, learning and experience.
Those who do not understand this and take trading easy normally lose all their funds in a very short period of time.
no one said that trading is an easy way to earn money but everyone is saying that trading is the best way to make money yet great power comes great responsibility ( like the saying says ) . as a newbie yes you will be attracted to these promising words but as a newbie you should also know your limits .
a newbie must first stick on easy and less riskier ways to earn until they know how to handle thier emotions and until they know if how the coins move after they master it , they can now advance to trading
I totally agree with you. New people will often find it difficult to understand how to make a lot of profits and often they have a lot of accounts burned.
Therefore, hold is best for new people, especially with Bitcoin. easy profit, not too much pressure in trading.
Therefore, hold is best for new people, especially with Bitcoin. easy profit, not too much pressure in trading.
Many new traders think that trading is very easy and making money through trading is the easiest thing to do in the world. This is surely not true. Trading is as difficult as any other business or work and it requires dedication, knowledge, learning and experience.
Those who do not understand this and take trading easy normally lose all their funds in a very short period of time.
...unless you have some skills from the financial world that you can transfer to crypto.... and even that, NOT SURE.
Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
No doubt a vast experience is required to become a successful trader. Every traders has his own way to trade, some traders use technical analysis, some use fundamental analysis and some use sentimental analysis to trade the financial market but the common thing is all of them use their experience to take and exit the trade. Experience does not come in a month or two, one needs to invest lot of time to study the market before coming to live trading. There are lots of tools available now a days, one can sharpen his/her skills on demo or a small live account before trading a live account for living.
Actually it's wrong if the newbie must invest long-term, on the contrary, newbies must learn how to trade daily and better understand market movements every day. Well this is because trading requires skills and experience. If the newbie has to invest and sleep while waiting for profits to come, it's futile. For 1-2 years, at least use to learn to trade with small amounts to get used to the market conditions.
Indeed there are no coins that are safe in the market because the fluctuations in the crypto market are very high. But the purpose of safe coins is coins that are invested long-term, usually these coins are in the top 10. ETH is also one of the safest coins and may not be safe for newbies if they are trading short term.
Safest coins means these coins are holding the crypto market,if the coin like bitcoin and ethereum fell then no more crypto trading or anything will be there so going for the most better coin with the long term will give the profits pay. I think for beginners you can daily trading, as training to find out the character of the market. but I suggest placing a large portion of your capital on safe coins, like bitcoin. however the trading system is gambling is not good, one day luck is not with us and we lose everything
There is no safe coins in the market, if ETH which is the most popular in the market of altcoins were dump 10 times from its ATH, then that would say the same to the remainder of altcoins. What we have to do is to learn how to minimize the risk, for day traders, stop loss is very important and don't be greedy. Indeed there are no coins that are safe in the market because the fluctuations in the crypto market are very high. But the purpose of safe coins is coins that are invested long-term, usually these coins are in the top 10. ETH is also one of the safest coins and may not be safe for newbies if they are trading short term.
Well if you dont risk then you wont gain anything.
We all started as newbies and probably experienced failures in trading but thats part of the process and thats how we can learn and be a pro trader. It might hard to understand at first but if you're determine it can lead to a better result.
However just like what others said trading is not for everyone, there are certain strategy that is best for each of us. If you tried many times already and still no luck then dont push too hard.
We all started as newbies and probably experienced failures in trading but thats part of the process and thats how we can learn and be a pro trader. It might hard to understand at first but if you're determine it can lead to a better result.
However just like what others said trading is not for everyone, there are certain strategy that is best for each of us. If you tried many times already and still no luck then dont push too hard.
I totally agree with you. New people will often find it difficult to understand how to make a lot of profits and often they have a lot of accounts burned.
Therefore, hold is best for new people, especially with Bitcoin. easy profit, not too much pressure in trading.
Therefore, hold is best for new people, especially with Bitcoin. easy profit, not too much pressure in trading.
The only pressure is when you see bitcoin fall and still fall in a day
That will make you stress and hard to find a solution to prevent a big loss. But if you believe in bitcoin, you will get the opportunity to buy more bitcoin at that time so you will not miss the chance. The hold could be an option to wait for making a profit in the future, but that depends on how strong that person can hold his coins.
Actually it's wrong if the newbie must invest long-term, on the contrary, newbies must learn how to trade daily and better understand market movements every day. Well this is because trading requires skills and experience. If the newbie has to invest and sleep while waiting for profits to come, it's futile. For 1-2 years, at least use to learn to trade with small amounts to get used to the market conditions.
Indeed there are no coins that are safe in the market because the fluctuations in the crypto market are very high. But the purpose of safe coins is coins that are invested long-term, usually these coins are in the top 10. ETH is also one of the safest coins and may not be safe for newbies if they are trading short term.
I think for beginners you can daily trading, as training to find out the character of the market. but I suggest placing a large portion of your capital on safe coins, like bitcoin. however the trading system is gambling is not good, one day luck is not with us and we lose everything
There is no safe coins in the market, if ETH which is the most popular in the market of altcoins were dump 10 times from its ATH, then that would say the same to the remainder of altcoins. What we have to do is to learn how to minimize the risk, for day traders, stop loss is very important and don't be greedy. Indeed there are no coins that are safe in the market because the fluctuations in the crypto market are very high. But the purpose of safe coins is coins that are invested long-term, usually these coins are in the top 10. ETH is also one of the safest coins and may not be safe for newbies if they are trading short term.
I think for beginners you can daily trading, as training to find out the character of the market. but I suggest placing a large portion of your capital on safe coins, like bitcoin. however the trading system is gambling is not good, one day luck is not with us and we lose everything
There is no safe coins in the market, if ETH which is the most popular in the market of altcoins were dump 10 times from its ATH, then that would say the same to the remainder of altcoins. What we have to do is to learn how to minimize the risk, for day traders, stop loss is very important and don't be greedy.
Actually, fiat money is not safe also - ever day we are under a risk to see the greatest inflation and lose what we earned before. Naturally, cryptocurrencies are more volatile, but if you invest in Bitcoin and cryptos that are going to take the leading positions in the crypto rating with time, you will make money at last.
Nevertheless, you will have to wait.
I totally agree with you. New people will often find it difficult to understand how to make a lot of profits and often they have a lot of accounts burned.
Therefore, hold is best for new people, especially with Bitcoin. easy profit, not too much pressure in trading.
Therefore, hold is best for new people, especially with Bitcoin. easy profit, not too much pressure in trading.
...unless you have some skills from the financial world that you can transfer to crypto.... and even that, NOT SURE.
Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
Inexperienced traders are caught on the same mistakes when I made those novice blunders way back to 2010. Long term investing is the main purpose but the risk/reward ratio is lower than the day or short term trading. The more time you give a trading position the more it will swim on the market. It will undoubtedly hit the take profit level unless traders going to touch the close button on the trading platform with a big fat finger. Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There are multiple types of trading methodologies are available for everyone and unfortunately most traders are not spending time on which method is suitable for them and this is the actual point where most traders are missing out which leads to big disasters while trading.Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
I never agree to avoid trading but you must take time to find which type of trading is suitable for you. For example, anyone can choose from one of the following type of trading: scalping - long term trading - short term trading - arbitrage trading but only after studying which is suitable for their knowledge and other factors.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Must be a best advice you can give to anyone. Long term does not need to be an investment but it is still a type of trading and fortunately it is suitable for any trader with respect to bitcoin markets. I think for beginners you can daily trading, as training to find out the character of the market. but I suggest placing a large portion of your capital on safe coins, like bitcoin. however the trading system is gambling is not good, one day luck is not with us and we lose everything
There is no safe coins in the market, if ETH which is the most popular in the market of altcoins were dump 10 times from its ATH, then that would say the same to the remainder of altcoins. What we have to do is to learn how to minimize the risk, for day traders, stop loss is very important and don't be greedy.
I think for beginners you can daily trading, as training to find out the character of the market. but I suggest placing a large portion of your capital on safe coins, like bitcoin. however the trading system is gambling is not good, one day luck is not with us and we lose everything
I think this is quite a wrong advise because new beginners should not start wit day trading first, if I am to advise new beginners, they should first do more of holding, and then keep watching how the market operates, by the time they already get used to the terrain, they can start with monthly or weekly trading first, because while they were holding that coin, they are probably monitoring charts too, and seeing the fluctuation which I feel they should see as part of training for them to understand the market. Day trading is not so easy, someone who has not perfected his or her skills in reading charts on monthly and weekly basis, how then do you expect him to be able to read a daily cart as quick as possible to be able to make decision necessary.
legendary
Activity: 2380
Merit: 4265
eXch.cx - Automatic crypto Swap Exchange.
Not everyone will success at trading even with the right tools and that's a fact. You simple have to choose what best works for you, It might be investing for some while trading for others. As for day traders although I'm not a fan of fractional profit still you don't have to discourage does that have picked interest in it as they're the backbone of the market. Day traders are those who keep the market active, functioning and exciting without them the market won't be profitable when investors decides to cash out their holding.
I don't totally agree with this, if you avoid from day trading, you'll never risk.
Sure, there is a risk, and it's risky since newbie have limited knowledge and less experience but risk can be minimize by trading with a small amount of money and that's the right thing to do, a newbie can learn along the way until he develop himself and become a successful trader.
Sure, there is a risk, and it's risky since newbie have limited knowledge and less experience but risk can be minimize by trading with a small amount of money and that's the right thing to do, a newbie can learn along the way until he develop himself and become a successful trader.
Many newbies are carried away by emotions durring trading. They get to attached with a coin that they don't know when to exit or hodl a coin. I will advice them to learn from experinced traders its more beneficial and reduces unnecessary loss
Newbies do not learn to trade if they do not experience it by themselves. Of course, we have to know first the basic knowledge. Before, I also do some long term trades until I was interested to enter margin trading. If we have initiation qithin us to learn some technical analysis, there is no impossible that we can achieve what we are aiming to learn. DYOR. That is my advice.
I disagree with your opinion. The most important thing in the knowledge of any business is practice. If there is no practice, then all futile. Of course, you can read a lot of books and articles about trade, but still get real knowledge and experience only through practice. I know of cases where people make trade without proper knowledge. And they make a lot of money.
Even new investors should learn some basics on cryptocurrencies even if they are investing for long term. They should have knowledge on risk management and be prepared for any eventualities in the future because of high volatilities and unpredictable nature of bitcoin. I also experienced losses and mistakes in my early days of trading but I learned from it very well and managed to improve it.
We know that crypto trading isn't just an easy job and yet, it needs the knowledge to make it succeed. Will all the loses we've been encounter is all a part of crypto and nit really a thing to think that we don't have future in trading. It's up to us have to face the challenge and how to manage ourself to make it right.
Even new investors should learn some basics on cryptocurrencies even if they are investing for long term. They should have knowledge on risk management and be prepared for any eventualities in the future because of high volatilities and unpredictable nature of bitcoin. I also experienced losses and mistakes in my early days of trading but I learned from it very well and managed to improve it.
Seems as if the message was directed to someone. Me particularly, i have traded many times hoping that my sell out was the pick but obvious not. i watched the price increased to another high. stupidly, i went back hoping that i can play the game. unfortunately, i lost. almost everything. trading is for real time professionals not just for newbies.
Truth is that trading is not for everyone and I'm not talking about the so called 'professionals' because they sometimes get burnt too.
Trading is for those who are willing to take the risk and knows when to dive in and when to back out. It is just like gambling. It takes long practices and mastery to be perfect in it. Sometimes, there could be gain, sometimes lost. Though, I still feel hodling is the best.
Yes, trading is about money and when we don't have good skills and experience it will only make a loss, but when we can be sure of trying to use money that can be lost, then I don't think it's a problem. But indeed, it would be better just to invest in long-term, but in this case it also does not guarantee to make a profit, because good research before investing is very important. The conclusion is always to learn everything first before regretting it in the end.
Best advice you could give a newbie who wants to start trade is that maybe they first learn the basics of trading, then move into real trading with small amounts of capital that they can avoid to lose and then after sometime they can perfect their trading practices and strategies.
You don't even have to use real money to trade. You can choose to paper trade or use one of the plenty available apps allowing you to trade with non existing money. It's something I have done at the very beginning too.Psychologically there surely is a difference between trading with non existing money and real money, but the basics matter here. You will figure out what strategies pay off and what strategies are shit.
I am however of believe that there is no such a thing as perfection in trading. Perfection means that you will always profit, and this is something even the best wall street traders aren't capable of doing. Not realistic at all.
The challenge we are having in cryptocurrency trading is volatility and pump and dump activities. I see that this cryptocurrency market needs to be stable a bit. To trade it needs a lot of skills and experience as technical set up does not always mean that the market has changed directions but as the most time, the pump and dump group will change the directions at will.
How does someone learn how to trade then if they don't practice then?
Not everyone is a hodler.
If someone wants to do day trading, they have got to start form somewhere. Best advice you could give a newbie who wants to start trade is that maybe they first learn the basics of trading, then move into real trading with small amounts of capital that they can avoid to lose and then after sometime they can perfect their trading practices and strategies.
That's how experienced traders are made. Not by just cowering
Not everyone is a hodler.
If someone wants to do day trading, they have got to start form somewhere. Best advice you could give a newbie who wants to start trade is that maybe they first learn the basics of trading, then move into real trading with small amounts of capital that they can avoid to lose and then after sometime they can perfect their trading practices and strategies.
That's how experienced traders are made. Not by just cowering
I agree with your opinion, but newbie really needs to practice and stop reading investment theory.
I also used to be a bad trader because I read too much and when I started trading, I couldn't control what was going on and didn't apply the knowledge I had learned.
We really should trade BUT with small capital, from $ 200- $ 500 to check our strategies. that's the way to develop knowledge and experience.
I also used to be a bad trader because I read too much and when I started trading, I couldn't control what was going on and didn't apply the knowledge I had learned.
We really should trade BUT with small capital, from $ 200- $ 500 to check our strategies. that's the way to develop knowledge and experience.
...unless you have some skills from the financial world that you can transfer to crypto.... and even that, NOT SURE.
Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
You will need experience to get better in trading. There is no perfect trader but the risk involved in trading is manageable. Self control and discipline contributes to becoming a profitable and safe trading.
Of course newbies should always have to learn first the fundamentals, risk management and technical analysis. Then slowly apply them to live trading. The common mistake is going full on without even knowing any basics. We do not call that trading. It's gambling.
And you do not chase that 2k uptick after you sold. You are a trader. You hit your target, you get out. There is always another opportunity to earn more.
Everybody is a newbie at some point of time. This doesn't mean they should not try for what they desire.
Failing are the stepping stones to success. Avoiding trade just because they are new to it wouldn't be the advice I would give to somebody.
In my opinion a person should try and learn from their mistakes. This is how they grow and evolve and get experienced in that field.
Failing are the stepping stones to success. Avoiding trade just because they are new to it wouldn't be the advice I would give to somebody.
In my opinion a person should try and learn from their mistakes. This is how they grow and evolve and get experienced in that field.
If you never try it, you will never gain and overcome it.
Newbie should be positive about the trading and should first focus on learning the trading. Everyone makes mistakes initially and no one is born to be expert from day one. All those successful traders out there were newbies traders who used to do a lot of mistakes.
Mistakes isn't the thing we have to worried about but it is our mind who think negatively.
Seems as if the message was directed to someone. Me particularly, i have traded many times hoping that my sell out was the pick but obvious not. i watched the price increased to another high. stupidly, i went back hoping that i can play the game. unfortunately, i lost. almost everything. trading is for real time professionals not just for newbies.
Newbies become professional if he wants to pursue his trading life. In fact, those professional traders are coming from newbies and they also experience loses before they learn a lot. There is no perfect person in trading, yet they all can be a loser but of course, if you have knowledge and passion in trading you can just minimize it. 
Seems as if the message was directed to someone. Me particularly, i have traded many times hoping that my sell out was the pick but obvious not. i watched the price increased to another high. stupidly, i went back hoping that i can play the game. unfortunately, i lost. almost everything. trading is for real time professionals not just for newbies.
No one became a professional overnight, they all started off as newbies/starters, and there is no chance in hell that trading is gonna be easy, it takes quite a lot of hard work and studying(most especially for day trading)If you are not confident in your trading skills or you feel it's not working for you, the best thing to do is take a break for a while and develop yourself more or simply trade long term.
unfortunately, i lost. almost everything
Hope you didn't invest more than you can lose, that's the first rule to learn ...unless you have some skills from the financial world that you can transfer to crypto.... and even that, NOT SURE.
Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
This is normal at first because you don’t have much experience yet but the more you trade the better you will become. Just continue on researching, study graphs, read articles and watch videos, it will help you in creating a good strategy in trading. In my opinion, you can trade both short and long term but you got to have the experience to do it and do it right.
For me, don't avoid trading, especially if you want to become an expert in trading. You must know about trading ( skills, knowledge, techniques and also a massive research analyst) if you're going to call your self a pro, so if you are a newbie and losing affordable money, so be it. I’m sure that all trader lose money is either massive or a meager amount. Just don’t spend or invest some money that you can’t afford to lose. 
Yes dont lose hope on trading even if you dont have any skill on technical analysis or reading candle etc. because experience on trading is a good learning to achieve your goal. I'm sure all trader that entering in trading industry experience to losing trade.
Seems as if the message was directed to someone. Me particularly, i have traded many times hoping that my sell out was the pick but obvious not. i watched the price increased to another high. stupidly, i went back hoping that i can play the game. unfortunately, i lost. almost everything. trading is for real time professionals not just for newbies.
Everybody is a newbie at some point of time. This doesn't mean they should not try for what they desire.
Failing are the stepping stones to success. Avoiding trade just because they are new to it wouldn't be the advice I would give to somebody.
In my opinion a person should try and learn from their mistakes. This is how they grow and evolve and get experienced in that field.
Failing are the stepping stones to success. Avoiding trade just because they are new to it wouldn't be the advice I would give to somebody.
In my opinion a person should try and learn from their mistakes. This is how they grow and evolve and get experienced in that field.
If you never try it, you will never gain and overcome it.
Newbie should be positive about the trading and should first focus on learning the trading. Everyone makes mistakes initially and no one is born to be expert from day one. All those successful traders out there were newbies traders who used to do a lot of mistakes.
Verry well said but as a newbie you must also know your grounds or limits .
Yes, they have newbie account. But, it doesn't mean they are newbie at trading. Probably they are smarter than you :^, just saying. Don't underestimate people.If you are keep saying like that, it means like you think newbie can't do anything. If newbie is not trying to start trading, then when?
you must not do trade with real cash/cryptos but you should practice first without value involve . there are sites that offers free trading program and courses which you can use to sharpen your skills . you can then use demo trading platform to apply what have you learnt .
Demo trading sucks. You can't feel the emotion once you fail. I don't agree with you. Newbies should be allowed to experiment with trading, else they will never learn. You don't have to avoid something just because it is scary or other people have failed. Consider all those that have succeeded, you can be one of them when you learn from them.
Verry well said but as a newbie you must also know your grounds or limits . you must not do trade with real cash/cryptos but you should practice first without value involve . there are sites that offers free trading program and courses which you can use to sharpen your skills . you can then use demo trading platform to apply what have you learnt .
after all of those you are now ready to step outside and do the actual trade but you must start with smaller amounts and you can graudually increase it up to the amount that you can afford to loose .
I don't agree with you. Newbies should be allowed to experiment with trading, else they will never learn. You don't have to avoid something just because it is scary or other people have failed. Consider all those that have succeeded, you can be one of them when you learn from them.
I second this, everyone is allowed to trade, even newbie.
As long as we know what is required in trading to be successful then we should try and make a journey, of course every journey starts small.
Trading is with risk, you cannot be aggressive at the start, of course you will make more mistakes being a newbie, but if you learn and survive, there's a chance for you to make this a long term success.
I don't agree with you. Newbies should be allowed to experiment with trading, else they will never learn. You don't have to avoid something just because it is scary or other people have failed. Consider all those that have succeeded, you can be one of them when you learn from them.
Everybody is a newbie at some point of time. This doesn't mean they should not try for what they desire.
Failing are the stepping stones to success. Avoiding trade just because they are new to it wouldn't be the advice I would give to somebody.
In my opinion a person should try and learn from their mistakes. This is how they grow and evolve and get experienced in that field.
Failing are the stepping stones to success. Avoiding trade just because they are new to it wouldn't be the advice I would give to somebody.
In my opinion a person should try and learn from their mistakes. This is how they grow and evolve and get experienced in that field.
For me, don't avoid trading, especially if you want to become an expert in trading. You must know about trading ( skills, knowledge, techniques and also a massive research analyst) if you're going to call your self a pro, so if you are a newbie and losing affordable money, so be it. I’m sure that all trader lose money is either massive or a meager amount. Just don’t spend or invest some money that you can’t afford to lose.
Yes dont lose hope on trading even if you dont have any skill on technical analysis or reading candle etc. because experience on trading is a good learning to achieve your goal. I'm sure all trader that entering in trading industry experience to losing trade.
For me, don't avoid trading, especially if you want to become an expert in trading. You must know about trading ( skills, knowledge, techniques and also a massive research analyst) if you're going to call your self a pro, so if you are a newbie and losing affordable money, so be it. I’m sure that all trader lose money is either massive or a meager amount. Just don’t spend or invest some money that you can’t afford to lose.
Yes dont lose hope on trading even if you dont have any skill on technical analysis or reading candle etc. because experience on trading is a good learning to achieve your goal. I'm sure all trader that entering in trading industry experience to losing trade.
...unless you have some skills from the financial world that you can transfer to crypto.... and even that, NOT SURE.
Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
trading is not an arbitrary thing to do without analysis. if trading is done with all accounts prepare to lose because it is one of the greedy acts. trading doesn't know that Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
Op, you have mentioned some good advise but sometimes one really need to try something, else you will not know whether you can trade and make profit.
One should not just simply try out day trading for the sake of it, it is quite tasking and requires some basic knowledge that must be acquired for success.Just as OP said, if that knowledge is lacking, then it's best to just buy and hodl for a long period of time.
i doubt if such message can be avoided in the trading system. Most people do try their luck by going all in on one trade with all their money. few has been successful with such move while a huge amount of people has got burn. most time it is good to split your trade no matter how professional you are.
As a rule, a small number of beginners begin to trade without any knowledge. Most always learn the basics and common mistakes. After reviewing all the basic information they go into battle. Problems begin when an inexperienced trader ceases to act according to the initial careful plans, but begins to take risks, as a result of which, having got into a difficult situation, they do not know how to get out of it, and make even more mistakes.
...unless you have some skills from the financial world that you can transfer to crypto.... and even that, NOT SURE.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
patience is required but I dont think it is up to 3 years, except for projects with a very long road map, some that could require some physical construction which are likely need with longer period to get a product that generate a good demand of it token volume on exchange.My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
or missing out chances to make money when theres a pump before it dies.You don't only need patience but also you do need to be wise
on making your decisions.
Op, you have mentioned some good advise but sometimes one really need to try something, else you will not know whether you can trade and make profit.
That is why it is preferable for a newbie to trade his excess amount only. There are many traders that lose already in trading. Some of them are those who are starting to know how to trade. Its sad to say that only few people have risk management in trading because many of us are entering this industry without prior knowledge. What I mean is that, some already lend their money without knowing how the risk they will take.
...unless you have some skills from the financial world that you can transfer to crypto.... and even that, NOT SURE.
Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
think that is the no.1 reason people here are not millioners to be honest, read about some guy that had 100 btc and started trading now he has 5, its very risky and it might seem easy, but its realy not. its very hard to be a winner long term.
...unless you have some skills from the financial world that you can transfer to crypto.... and even that, NOT SURE.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
patience is required but I dont think it is up to 3 years, except for projects with a very long road map, some that could require some physical construction which are likely need with longer period to get a product that generate a good demand of it token volume on exchange. My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
...unless you have some skills from the financial world that you can transfer to crypto.... and even that, NOT SURE.
Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
And how would someone learn all those stuffs? How would a person get to learn about the graph, clouds, candles and all other stuffs related to trading unless they try it first? Experience matter. To gain experience one will have to give it a try. You may not succeed in trading first but you will eventually as you gain more experience from time to time. Even your mistakes are a part of your learning phase! Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
...unless you have some skills from the financial world that you can transfer to crypto.... and even that, NOT SURE.
Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
Trading actually is not for everyone and it needs special skills and knowledge in other to succeed in it. This warning is scarring but that is the truth! According to the experts in forex, stocks and commodities trading, "About 95% of traders lose money and only 5% makes profits from trading consistently". Trading is not for newbies and except you can show profits in your demo account you should not put in really money into trading as you are going to lose. It is actually better to put in your money in buying Bitcoin and ethereum and hold them for some time and sell when you think you are in profits. Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
legendary
Activity: 2436
Merit: 1189
Need Campaign Manager?PM on telegram @sujonali1819
Nobody ride in cylce by reading book. Nobody can play good without any practice. Thus you can not be experienced in trading without trying any trade in exchange. So by learning from book everybody should practice with little amount then people can experienced. Thanks
Newbies does not need to be advised before they know that they really need serious experience first before embarking on the journey of trading. Trading is really not very easy, any professional trader will tell them the hell they have gone through before becoming a pro trader, and I am sure that no pro trader would just wake up to become pro without first learning for a very long time.
All we are after is profit, and long term investment also does the same, any one that is not patient cannot trade, and most of the newbies we have now are not patient at all in trading, they fall for fomo and same time are always victims of panic sell, many of them even do not want to study thoroughly first, and these are the basic steps to take before investing.It took me good one year of long-term investment and thoroughly studying the crypto industry before I started trading.
All we are after is profit, and long term investment also does the same, any one that is not patient cannot trade, and most of the newbies we have now are not patient at all in trading, they fall for fomo and same time are always victims of panic sell, many of them even do not want to study thoroughly first, and these are the basic steps to take before investing.It took me good one year of long-term investment and thoroughly studying the crypto industry before I started trading.
why need to avoid if you can learn how to trade. there's no perfect person in becomes of trading so try to put even small amount and start trading study will until the perfect strategies on your side. your advice for long-term is yes thats for newbies and who have no time to trade there fund and they want a safe strategy...
For me, don't avoid trading, especially if you want to become an expert in trading. You must know about trading ( skills, knowledge, techniques and also a massive research analyst) if you're going to call your self a pro, so if you are a newbie and losing affordable money, so be it. I’m sure that all trader lose money is either massive or a meager amount. Just don’t spend or invest some money that you can’t afford to lose.
Hold for 3 years - let's suppose the person buys some currency when the price was $5000 but after 3 years the currency falls to $3000. then that person at the end of 3 years will suffer losses. Hold also has great risks and you need to know the time to sell with profits or losses.
If you invest today in some altcoin and hold for 3 years, then the chances for loss are probably more then 90%. Bitcoin is profitable for long-term holding, and altcoins should be used for short-term trading.
I think that's right, for beginners can choose both to trade long-term with bitcoin and trade daily with altcoin. I think that is the right choice, while learning how to do good trading procedures for several years. It's useless if it's only used for long-term trading and just keeping quiet, it won't add to your experience.
Have losses often to happen to long-term investment than of short-term.
I'm preferred to be at short-term trading cause we can actually play the market but our profits might be difficult during bear season.
Hold for 3 years - let's suppose the person buys some currency when the price was $5000 but after 3 years the currency falls to $3000. then that person at the end of 3 years will suffer losses. Hold also has great risks and you need to know the time to sell with profits or losses.
If you invest today in some altcoin and hold for 3 years, then the chances for loss are probably more then 90%. Bitcoin is profitable for long-term holding, and altcoins should be used for short-term trading.
I think that's right, for beginners can choose both to trade long-term with bitcoin and trade daily with altcoin. I think that is the right choice, while learning how to do good trading procedures for several years. It's useless if it's only used for long-term trading and just keeping quiet, it won't add to your experience.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
This your advise is for people who have taken crypto trading as alternative source of income but for those who are having crypto as first and only source of income, they can't just hodl for that long. In fact, they will trade certainly.
Obviously, every business has its hazard and risk
Hold for 3 years - let's suppose the person buys some currency when the price was $5000 but after 3 years the currency falls to $3000. then that person at the end of 3 years will suffer losses. Hold also has great risks and you need to know the time to sell with profits or losses.
Hold on bitcoins for long-term has so far proved the least risky investment, and we can assume if you invest few months ago and buy 1 BTC for $5000 that after 3 years that coin will have much greater value than today. Of course there is always a risk, even with most popular cryptocurrency. Person will only lost if he / she sell at lower value, but there is always option to hold for some extra time and wait for better price.
If you invest today in some altcoin and hold for 3 years, then the chances for loss are probably more then 90%. Bitcoin is profitable for long-term holding, and altcoins should be used for short-term trading.
I think "trading" could be difficult but investment is not and some of the people here mistake what investment is and what trading is. I mean trading is buying and selling something to make a profit and for their full information that is what investment is, if you buy bitcoin right now and sell it 4 years later that is still buying and selling and making a profit so they think that is trading too. That is not trading, that is literally investment.
So, if you are new and want to buy something and not look back for years then you can totally do it, if you are new and want to trade that is risky as hell. I had a friend who bought from peak 20k times even though as the only person he knows that deals with bitcoin I told him not to because he would have to wait years. He didn't listen and bought anyway and sold it when it was 8k or so, I mean even if you are new and gonna do something, at least listen to your veteran friends.
So, if you are new and want to buy something and not look back for years then you can totally do it, if you are new and want to trade that is risky as hell. I had a friend who bought from peak 20k times even though as the only person he knows that deals with bitcoin I told him not to because he would have to wait years. He didn't listen and bought anyway and sold it when it was 8k or so, I mean even if you are new and gonna do something, at least listen to your veteran friends.
the two options have advantages and disadvantages, for example in the case of disadvantages:
Hold for 3 years - let's suppose the person buys some currency when the price was $5000 but after 3 years the currency falls to $3000. then that person at the end of 3 years will suffer losses. Hold also has great risks and you need to know the time to sell with profits or losses.
do day trade - I see many people in the tradeview who make charts full of lines, but always fail in their analysis, this is a disadvantage of daytrade (it's impossible to predict the price correctly always)
Hold for 3 years - let's suppose the person buys some currency when the price was $5000 but after 3 years the currency falls to $3000. then that person at the end of 3 years will suffer losses. Hold also has great risks and you need to know the time to sell with profits or losses.
do day trade - I see many people in the tradeview who make charts full of lines, but always fail in their analysis, this is a disadvantage of daytrade (it's impossible to predict the price correctly always)
...unless you have some skills from the financial world that you can transfer to crypto.... and even that, NOT SURE.
Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
I disagree. The long term works specifically only on bitcoin and the top 20-30 altcoins which can give you 5x-10x of profits. While those altcoins that are in the bottom of the list can spike up to 100x or more in an altcoin bull run but what is needed to fulfill this success is to make crypto trading a full time work.
-snip-
Actually you do got the point but theres no one can stop if someone decide to jump into trading even if you are experienced one or a complete newbie.Mistakes are inevitable but experience along the way would be a good teacher.Dont just quit up when you experience some few mistakes and believing that trading isnt
for you which this is some sort of wrong mentality.
if you avoid trading before you got solid experience, then you'll never trade at all. it's impossible to get a perfect start and maybe going rekt most of the times, but that's necessary if you want to build your skill. so a better idea would be only using the money you can afford to lose when you trade and learn to control your emotions.
Actually you could get a solid experience before getting rekt in trading you just need to use the simulator to try out your skills .And of course you also need some guides and tons of time to learn all of the things you need in order to be a good trader.
This is what most of the newbie's are missing right now they are to greedy and being to reckless doing things without a proper knowledge.
It's impossible to convince people that trading isn't for them, especially if they were so lucky to have guessed a few price movements correctly.
In all cases losing money is the best guide. People need to feel it in their wallet that they suck at trading. Some need a lesson or two to get that far, but most people will refrain from trading afterwards. The temptation of short term gains is so strong that people just can resist the temptation of opening a trade position.
In the end, people are responsible for their own actions. They are free to do as they please, even when it might not be the best option for them.
In all cases losing money is the best guide. People need to feel it in their wallet that they suck at trading. Some need a lesson or two to get that far, but most people will refrain from trading afterwards. The temptation of short term gains is so strong that people just can resist the temptation of opening a trade position.
In the end, people are responsible for their own actions. They are free to do as they please, even when it might not be the best option for them.
...unless you have some skills from the financial world that you can transfer to crypto.... and even that, NOT SURE.
Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
But its worth to try even when we are not having knowledge of financial system or graphs and all we need is the mindset of making profits and not to regret the profit or loss once we done the trades. Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
If you really want to trade because this is the only way for you to earn instant money, first you need to explore of the reading chart and master the technical analysis which very important when you are in trading. Staying here in the forum and gather information related trading will help you. How could you know if you didn't try and have some experience if you make mistakes then it should not happen again and you should learn of it. I'd been 3 years here in the forum and after that, I tried to trade as what I have learned and yet you had already advantage rather than you are a newbie.
But I think you can start somewhere else right? You can go and get your hands dirty and see it for yourself. If you think you can't handle the pressure in the beginning, then you might think about switching careers.
Then again, because of the huge money to make in this cryptosphere many are tempted. Even believing that this is a get rich quick scheme. That's why a lot of them got burned and never look back.
Then again, because of the huge money to make in this cryptosphere many are tempted. Even believing that this is a get rich quick scheme. That's why a lot of them got burned and never look back.
That's what I'm doing over 5 years on investing crypto especially on bitcoin , just by holding.
Yes, you can earn profit quicker if you do short term of trading but in crypto to risk is too high because of it's volatile value.
They also different with ordinary stock trading ( remember this part )
Yes, you can earn profit quicker if you do short term of trading but in crypto to risk is too high because of it's volatile value.
They also different with ordinary stock trading ( remember this part )
Trading with crypto is not for everyone, some people have some knowledge and skills so with time they become even better traders. But some people will only lose money, no matter how much time and effort they have spent to learn how to become successful traders.
This of course does not mean that everyone should not try crypto trading, but at least some basic about how to trade should be studied. Selection of good exchange is also important, and amount of money invested on that exchange should not be more than you are willing to lose.
People lose money / coins on exchanges not only for bad trades, but also because exchanges get hack, or users become victims of hack mostly by phishing. So it is not only important to learn how to trade, but also how to use exchanges in a safe way.
Whatever you do, never consider exchanges as long-term storage. If you have no plans to trade for some time, move your coins in safety of more secure wallet where you control private keys.
This of course does not mean that everyone should not try crypto trading, but at least some basic about how to trade should be studied. Selection of good exchange is also important, and amount of money invested on that exchange should not be more than you are willing to lose.
People lose money / coins on exchanges not only for bad trades, but also because exchanges get hack, or users become victims of hack mostly by phishing. So it is not only important to learn how to trade, but also how to use exchanges in a safe way.
Whatever you do, never consider exchanges as long-term storage. If you have no plans to trade for some time, move your coins in safety of more secure wallet where you control private keys.
no one will learn if they dont try and fail , even i failed many time but i knew that i should not put more money and get burnt , so i put less money while learning and got burnt less
...unless you have some skills from the financial world that you can transfer to crypto.... and even that, NOT SURE.
Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
You won't earn any solid experience at reading charts if you stay put right there doing nothing, of course you must do it yourself first hand if you want to have that experience to be gained, getting rekt is a good lesson for starters
if you avoid trading before you got solid experience, then you'll never trade at all. it's impossible to get a perfect start and maybe going rekt most of the times, but that's necessary if you want to build your skill. so a better idea would be only using the money you can afford to lose when you trade and learn to control your emotions.
You can learn how to trade with air, or very small money then. But let's be honest most put their all bankroll in a trade and risk losing it all.
Maybe you just said that since you lost some trades of yours. But if you started to learn how to trade or how it works, you can gain knowledge and will lead you to become a succesful trader.
Does all successful trader didn't start from the bottom? didn't lose some of their money at their first few trades?
Also, even successful trader still losing some of their trades.
I know being a trader is difficult, but still, if you want to improve you will learn and will work hard. *Not advertising to trade* Just my 2 cents...
Does all successful trader didn't start from the bottom? didn't lose some of their money at their first few trades?
Also, even successful trader still losing some of their trades.
I know being a trader is difficult, but still, if you want to improve you will learn and will work hard. *Not advertising to trade* Just my 2 cents...
if you avoid trading before you got solid experience, then you'll never trade at all. it's impossible to get a perfect start and maybe going rekt most of the times, but that's necessary if you want to build your skill. so a better idea would be only using the money you can afford to lose when you trade and learn to control your emotions.
...unless you have some skills from the financial world that you can transfer to crypto.... and even that, NOT SURE.
Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
Too many newbies get burnt.
Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.
There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.
My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.
Best of luck.
Jump to: