Before getting into trading - page 2.

Natalim

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Quote from: markdario112616 on October 11, 2021, 02:56:47 PM

Before getting into something in General, One MUST have the idea what he/she'll be into.
The basics are the MOST important thing to have. Especially when just starting, a lot of newbies tend to skip this as they feel that they don't need it. Being intelligent is not that important, but to be able to understand the nature of trading is enough to succeed. Knowledge, Data gathering, patience and many more are part of the Basics. That's how important to have the basics before entering the world of Trading.

A lot of newcomers don't last as they taught when they trade that's it, They see a low investment entry they'll grab even without proper data to support every decision. As I see it, it seems that only about 30% of the new comers are willing to start from the very beginning no shortcuts and everything.

This is the reason why traders now only exist for short term and after that, they are gone eventually in the market. Too different from those early traders wherein until now they are still active in trading because they learned trading through a step by step process and with experience follows their own strategies that have made them keep into trading until now.

In addition, having a positive mindset before getting into trading is also very important because that will motivate you to keep even better from those frequent losses you might experience as first timer.

markdario112616

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Before getting into something in General, One MUST have the idea what he/she'll be into.
The basics are the MOST important thing to have. Especially when just starting, a lot of newbies tend to skip this as they feel that they don't need it. Being intelligent is not that important, but to be able to understand the nature of trading is enough to succeed. Knowledge, Data gathering, patience and many more are part of the Basics. That's how important to have the basics before entering the world of Trading.

A lot of newcomers don't last as they taught when they trade that's it, They see a low investment entry they'll grab even without proper data to support every decision. As I see it, it seems that only about 30% of the new comers are willing to start from the very beginning no shortcuts and everything.

ScamViruS

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Quote from: Kimonoe on October 09, 2021, 03:44:03 PM

Of course, trading knowledge is the main requirement so as not to get caught in a trading situation that is not as easy as imagined. By knowing the previous trading picture, we will be better prepared to accept the risks and rewards. but the best thing in my opinion is the guidance from the closest friends at the beginning of trading

Before starting trading, all traders have the same idea of how to make as much profit as possible. But those who can't solidify their foundation before they start trading by acquiring proper trading knowledge, they can't stay in the crypto market for long, lose their capital and exit the market.

So the guidance of a close friend before starting trading is not enough, it requires proper crypto trading knowledge.

livingfree

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Quote from: Fredomago on October 10, 2021, 03:16:48 AM

Quote from: livingfree on October 09, 2021, 03:22:11 PM

Quote from: Lordhermes on October 08, 2021, 11:11:11 PM

Before one starts trading,he or she must have made thorough research on the aspects of trading he wants to indulge in.He must have the mindset of loosing,because if he does not carry that mindset,the market will shock him and give him heart attack when he begins to lose.
He must have in mind that losing is part of the game.

Losing is truly part of trading.

Someone who wants to start trading has to be that open in that mindset. It doesn't mean that because you're going to lose upon entering but it's because the chance of losing is higher for many starters.

It's a good mindset at the beginning for you to don't have that much emotional impact.

You need to consider that losing is part of this business, even experienced trader also have that bad day in trading, no one can say that they are all set and good when they trade, though there are always different mindsets that each traders have, mistake from experienced traders treated as learning process while with newcomers they are not willing to accept and blame the market and leave.

You need to balance and think of alternative ways. If you made some wrong decisions, having a good backup plan will keep you inside the game and allow you to survive.

Once everything settled, expect good growth and success will take place.

Everyone can have their bad days or what we call it red days and that's true.

You can't be a trader if you're not open to losses and you might just be an investor and hold your assets so that you won't be losing that much as you start.

It's the right decision if you do that then.

martina14

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Quote from: amirahmed on September 23, 2021, 06:23:15 AM

When one first enters the trading game, it is most often challenging to know how to prepare for it. Even if it is an appealing approach to increase profit, it would not be as fruitful as one may imagine without a fundamental understanding of the basics and a few preparations.
How should one prepare before getting into trading?

Let me share to you first my experienced when I entered into trading mate, Learning is the basic rules in which I did before, I patiently do some research about it here in cryptocurrency, that is why google search was very useful to me when I was a newbie before. In fact, even up to now I continue to learn here via my experienced in trading. And never allow in your mind and heart to become greedy or else you regret it for sure. Just don't aim high earnings always start with small earnings and be satisfy what you are doing while you are starting here.

blatchcorn

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Quote from: Wind_FURY on September 23, 2021, 06:46:21 AM

OP, 1. NEVER join a paid group.

2. NEVER buy a “secret strategy” from someone who claims that the “strategy” is very profitable

3. Learn from open source information

4. Learn from all perspectives from different traders, and different trading strategies, STUDY/WORK HARD

5. START WITH SMALL CAPITAL

6. If after everything you still are not profitable, save money and Buy the Bitcoin Dip, and HODL Cool

These are golden rules I would say. Further to above reference points I would emphasise on the fact that trading for short term is not for everyone. Even experts at times can't handle wild fire of crypto trading. Hodling for long term is best strategy if you always wanna win.

Yamifoud

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Just like the other's replies, we shouldn't have to make it rush, don't believe those signal/paid groups, and much never think about easy money in trading coz you will just get frustrated. Everything has a sweet success when we work it hard.
Thus, if you have a plan to become or get into trading, never rely on others but rather rely on yourself. You can do a lot of searches online and that is no reason why we hired someone to teach us especially when it asks for money unless if that is your closest friend or a family member as we could still learn.

Fredomago

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Quote from: livingfree on October 09, 2021, 03:22:11 PM

Quote from: Lordhermes on October 08, 2021, 11:11:11 PM

Before one starts trading,he or she must have made thorough research on the aspects of trading he wants to indulge in.He must have the mindset of loosing,because if he does not carry that mindset,the market will shock him and give him heart attack when he begins to lose.
He must have in mind that losing is part of the game.

Losing is truly part of trading.

Someone who wants to start trading has to be that open in that mindset. It doesn't mean that because you're going to lose upon entering but it's because the chance of losing is higher for many starters.

It's a good mindset at the beginning for you to don't have that much emotional impact.

You need to consider that losing is part of this business, even experienced trader also have that bad day in trading, no one can say that they are all set and good when they trade, though there are always different mindsets that each traders have, mistake from experienced traders treated as learning process while with newcomers they are not willing to accept and blame the market and leave.

You need to balance and think of alternative ways. If you made some wrong decisions, having a good backup plan will keep you inside the game and allow you to survive.

Once everything settled, expect good growth and success will take place.

Kimonoe

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Of course, trading knowledge is the main requirement so as not to get caught in a trading situation that is not as easy as imagined. By knowing the previous trading picture, we will be better prepared to accept the risks and rewards. but the best thing in my opinion is the guidance from the closest friends at the beginning of trading

livingfree

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Quote from: Lordhermes on October 08, 2021, 11:11:11 PM

Before one starts trading,he or she must have made thorough research on the aspects of trading he wants to indulge in.He must have the mindset of loosing,because if he does not carry that mindset,the market will shock him and give him heart attack when he begins to lose.
He must have in mind that losing is part of the game.

Losing is truly part of trading.

Someone who wants to start trading has to be that open in that mindset. It doesn't mean that because you're going to lose upon entering but it's because the chance of losing is higher for many starters.

It's a good mindset at the beginning for you to don't have that much emotional impact.

bitgolden

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I would say that the hardest thing for me while starting out was the fact that I didn't had enough funds to matter. My first ever crypto purchase (well I earned it, not bought it) was 25 dollars. It is really difficult to come from a very poor nation and try to have thousands of dollars in crypto, many people assume that it could be easy if you hit the right thing but when you have 25 dollars, even 100x would mean 2500 dollars, which is very good of course for me but not a big portfolio by any standard.

It took me years to get where I am today, I didn't keep it all on crypto, I spent it on many projects and bought myself some things that I needed (not fun related, just living stuff) and even made my living with it. So I would say that crypto did changed my life but it took me maybe 5 years to be where I am today, hence when starting out, people should realize, it is not easy to get rich in crypto, sure there are some lucky people who made a lot, but that is a very rare situation to be in.

Hypnosis00

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Quote from: Lordhermes on October 08, 2021, 11:11:11 PM

Another thing to do before starting to trade is that you must consult experienced and skillful people in the field to guild you on the area you want to trade. It is their guidance and advice that gives you a a base on how to start,and how to make good profit.

Of course, you will but never think that they will teach you always and it was needed for us to stand alone without the guidance of these people.

Maybe if I was in that situation, I don't ask how to make a good profit but rather to ask how to be safe from losing. We know the sentiment already that we can't avoid this thing no matter how good we are as it certainly comes. And people who will think about a profit always will mostly don't survive as they are badly frustrated once they lose.

Lordhermes

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Before one starts trading,he or she must have made thorough research on the aspects of trading he wants to indulge in.He must have the mindset of loosing,because if he does not carry that mindset,the market will shock him and give him heart attack when he begins to lose.
He must have in mind that losing is part of the game.

Another thing to do before starting to trade is that you must consult experienced and skillful people in the field to guild you on the area you want to trade. It is their guidance and advice that gives you a a base on how to start,and how to make good profit.

South Park

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Quote from: isaac_clarke22 on October 01, 2021, 02:46:20 PM

Quote from: Wind_FURY on September 23, 2021, 06:46:21 AM

~

Speaking of this, I never encountered any paid groups being promoted lately when I just started looking around in Google just to get a good read about trading seems like it is only in some selected sites.
Resources out there are free anyway to learn anything. I learned programming without paying any courses anyway, and yes, same goes with the basics in trading when I was still learning the ropes. People think that buying courses would make them instantly expert without any effort done in their end.

This is a mistake that many people make in all aspects of their lives, money without a doubt can fix many problems and help you in many circumstances but when it comes to learning money most of the time is completely irrelevant, the only thing you need is time, dedication and a decent source of information, and now thanks to the Internet you have many sources of information which means the only thing you really need is the time and the desire to learn.

Fredomago

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Quote from: Rigon on October 04, 2021, 11:54:08 AM

You must know a lot before you start trading. You need to know your signals to trade.They can never make a profit by trading without a good understanding of the Jairam market There are many who come to the trading platform and trade in an approximate way At one point it was seen that they lost all their profits.So I would say you must have a good knowledge of trading before you get into trading.

It's needed to have all the basic understanding and willingness to learn. It's not easy as how it was percept by those people who try to allure new traders. They show easy access to gain profits, but in reality; it needs a lot of time; you need to focus and dedicate your time in order to be established good strategy.

Working in this business is not a game of luck but the determination and will that you really wanted to succeed. Keep all the knowledge that you gain from both successful trades and also from those losses that happened to your trade.

Experienced will solidify your knowledge and it will give you better chances of success.

Nigrinn

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Without a clear understanding and the ability to apply my knowledge in practice, it is quite difficult to start trading, so I started with a demo account, which is provided by Amarkets, and this helped me to understand everything and learn a lot.

Rigon

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You must know a lot before you start trading. You need to know your signals to trade.They can never make a profit by trading without a good understanding of the Jairam market There are many who come to the trading platform and trade in an approximate way At one point it was seen that they lost all their profits.So I would say you must have a good knowledge of trading before you get into trading.

South Park

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Quote from: XCANA on September 30, 2021, 03:47:02 AM

Never you start trading crypto currency with emotion or anxiety of making so quick just because of must have head testimony of people that have turned millionaire via crypto currency trading because you don't how they started and their trading level skill and how long they have been in trading.

Exactly, remove the irrational decisions caused by emotions and let the rational stuff like knowledge and pragmatics do the work when it comes to trading, the problem is that some people are too greedy when it comes to trading and cryptocurrency, they think that it's all quick buck until they've experienced hardships.

And this is something that is incredibly difficult to do, we know that the market is ruled by two emotions which are fear and greed and those two emotions are going to be what causes the majority of the losses a trader will face during their career, after all many people have a decent strategy to trade the markets which if they just followed it will allow them to make some small gains from it, but that is not enough and this causes people to not use their trading system and that is when big losses are incurred.

Mpamaegbu

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Quote from: Wind_FURY on September 23, 2021, 06:46:21 AM

2. NEVER buy a “secret strategy” from someone who claims that the “strategy” is very profitable

Someone recently tried to talk me into this and I laughed it off in amusement. Truth is that if a strategy is that great, the owner wouldn't want to sell it. What some of these signal and indicator sellers do is salesmanship of a strategy that has got a few wins, perhaps during a trending market, and then they think it's a complete winner. The real test of any strategy is during a ranging market, not during a trend.

Quote from: palle11 on September 23, 2021, 07:58:27 AM

A learner who wants to learn more should be patient and not to be in the haste to start real trading. Make all your mistakes with demo

Demo doesn't have the same near life experience as real trading. I used to think one could become an expert from trading on demo but I know better now. Nothing feels real as trading real life. Demo trade for a few days/weeks, then go life. Just fund your account with little capital and then minimize your exposure by maintaining Money Management (MM). That's the right way to go, for me.

Quote from: palle11 on September 23, 2021, 07:58:27 AM

A real trader don't want to hodl but to exchange for immediate profit..

By "real trader" you meant day trader, right? Otherwise, hodlers are also traders. All traders are real, except scammers 😏

martina14

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Quote from: PhucS on October 01, 2021, 03:36:48 AM

Before entering this market, I think you should take the time to learn crypto-related knowledge, this preparation is essential. There is a lot of information, free knowledge for you to learn. Don't use all your money to trade, start with a small amount.
Some people on social networking sites always give advice, you should not trust it completely, need to find out clearly before making a decision.

You are absolutely correct in this matter sir, trading needs knowledge and skills as much as possible.
This is the problem sometimes with the novice or newbies who came up here in crypto business.
They always in hurry to get profit without doing feeding themselves into learning stage, that is why
in the end most of the time they loss.

Topic: Before getting into trading - page 2. (Read 668 times)