Best trading advice for a beginner | Bitcointalksearch.org

Ricardo11

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Quote from: dansus021 on January 18, 2025, 12:41:00 AM

Best trading advice for a beginner

I always tell my family and friends that trading isn't easy and the risks is high whether you are in spot trading or hell trading like futures haha, is simply trade needs proper knowledge. There is a short video on my Instagram and says that 90% of newbie traders are losing money and for me, that is true if I combined all my profits and losses of my entire life the answer is I'm still at loss.

Im not saying Im a professional trader but right now I'm just trying to get that money back and it works even tho it's hard. If you have a regular job, don't resign and go full-time trade. Just learn right now how to trade watch some youtube videos and create your own startegy

Trading is not really an easy thing, if you do not have the right knowledge about trading or trading in its entirety, it is very difficult to make money from trading. You are right that most people lose their money in the initial stage, because no one can trade accurately in the beginning, everyone has to lose a lot of money in the beginning. But at that time, every loss should be seen as an inspiration to learn more. Trading is not a small thing, it is very difficult to achieve success from trading.
I heard one thing, that trading is mainly which people for?
Trading is not for "poor" or "middle class" people to make rich people. Trading is for, make rich people to more more richer people.
Because in the beginning, you have to lose a lot of money from trading, which in the case of a "poor" or "middle class" person, you may have to lose more money than they can afford. Which can lead to more financial losses. But this may not be the case for everyone. Those who can learn trading consistently, patiently, strategically, and well, They can still be successful in trading without incurring these types of losses.

dansus021

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Part of AOBT - English Translator to Indonesia

Best trading advice for a beginner

I always tell my family and friends that trading isn't easy and the risks is high whether you are in spot trading or hell trading like futures haha, is simply trade needs proper knowledge. There is a short video on my Instagram and says that 90% of newbie traders are losing money and for me, that is true if I combined all my profits and losses of my entire life the answer is I'm still at loss.

Im not saying Im a professional trader but right now I'm just trying to get that money back and it works even tho it's hard. If you have a regular job, don't resign and go full-time trade. Just learn right now how to trade watch some youtube videos and create your own startegy

laijsica

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Quote from: Judith87403 on January 17, 2025, 05:41:32 PM

As a beginner and you want to start trading of course is not a bad idea but before you think of getting started first you need to learn so as to know the basic tools to use and also the strategies to take, you know trading requires enough knowledge before you can think of getting started is not like bitcoin investment that does not requires enough knowledge this is why I don't always show interest in trading. because it takes a very long time before one can get all the necessary information about it and also considering the risk that is involved in trading, Though is a matter of choice, for one to make such decision I think he has something in mind of which I don't know.

Trading can be a good idea to earn more in the short term, but you need to have sufficient capital and experience to do so. For novice traders, investing before analyzing the market is a high-risk possibility that can cause them massive financial losses. Setting a strategy for investing is more important for beginners because they are more likely to make wrong decisions due to their emotions and to bring it to a stable position through the proper basic tools for implementing business decisions.

Well if you don't have a stable source of income, it's better for you not to trade, besides it's a more risky investment. I recommend long-term investments for beginners because making small deposits every week or month will increase the holdings and the possibility of extracting sufficient profit from each cycle.

Judith87403

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As a beginner and you want to start trading of course is not a bad idea but before you think of getting started first you need to learn so as to know the basic tools to use and also the strategies to take, you know trading requires enough knowledge before you can think of getting started is not like bitcoin investment that does not requires enough knowledge this is why I don't always show interest in trading. because it takes a very long time before one can get all the necessary information about it and also considering the risk that is involved in trading, Though is a matter of choice, for one to make such decision I think he has something in mind of which I don't know.

Baki202

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Quote from: Victorybit1 on January 16, 2025, 10:41:36 AM

As a beginner you must focus more on gaining knowledge, trying to trade with a live account after learning just for a few months isn't really adviced. You need time to work on yourself especially in the aspect of displine, a trader that lacks displine won't go very far. Find a mentor that is very knowledgeable about it, work on strategy development and make sure you take back tests and proper analysis. Make use of a demo account till you are confident enough to trade on a live account. But be warned trading on a live account is different from a demo account, you can have successful trades on a demo account and lose constantly on a live account. Also the principle of risk management.

To aim to become an excellent trader, you must be ready to actually want to learn because the moment you dont want to learn, then the dream of becoming a trader should not even cross your mind, and putting in effort to learn for those few months is going to be very beneficial because even with the help of using a demo account, it's going to be a serious help to anyone. The longer you stay to learn, the better, but we know how humans are we always want the easy way out, and there is no way that we are going to go for knowledge and not get profit, There are a lot of things that you are going to learn within that period. Knowledge is expensive, and if the funds are there, I will suggest the person actually go to learn, because even when you are in those academy, they will only agree for you to use a demo account, which is the right thing to do because you can use all the money made available there and it won't even affect you, so its not a bad idea at all, if not the amount of money that would have been spent on trading, and no gain is going to be a huge amount of money, so there is a point in using the demo account.

Adams0001

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Quote from: GeorgeJohn on January 16, 2025, 05:03:33 PM

Quote from: Crypto Inferno on November 21, 2024, 03:04:18 PM

What advice would you give a newbie that started trading? Let's say he has decided to leave his comfort zone and get his hands on the it.
Are there pitfalls to avoid? Where is the best place to get started with? Any materials to help grasp the concept faster? Do you mind giving hints on what helped you scale through in your early beginning.

I don't know if I have come across this kind of thread before, but what I know is that if you want to began trading, what you need to do is to acquire the the basic knowledge of trading, because I know very well that trading has to do with skill, and you need to understand the concepts rudiments so that you will not be victims of it, it's quit understanding that the key of trading is to know the concepts and how to overcome loss, to overcome loss will be achieved if you know the concepts of trading.

That is the best advice you can give a beginner, he has to learn before he begins trading. That is the crucial element before he can succeed. Without information, nothing can be accomplished since whatever you are attempting to do, whether trading or investing, you must understand and seek knowledge in order to reach your goals. Trading is not something you can study in a few weeks or months and assume you understand everything. It is incredibly dangerous, and it takes time to comprehend everything about it. It is extremely dangerous since you cannot foresee what would happen you can either lose or gain.

When you do not have enough funds to take a risk on trading, the best advice is to make an investment that will definitely reduce your risk of losing all of your funds, but if you are patient and you will learn and actively pursue your goals in trading, because many traders succeed and use their trading profits to invest in bitcoin to increase their money. And just so you know, before you start trading, make sure you have something to do so that he can support you. If you lose, you will get another fund to try again, but if you don't have any funds, don't try to trade because he will definitely affect you.

liemfrans

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Quote from: Crypto Inferno on November 21, 2024, 03:04:18 PM

What advice would you give a newbie that started trading? Let's say he has decided to leave his comfort zone and get his hands on the it.
Are there pitfalls to avoid? Where is the best place to get started with? Any materials to help grasp the concept faster? Do you mind giving hints on what helped you scale through in your early beginning.

that you can remember, that trading is a long-term investment

so maybe most beginners think that trading can quickly generate big profits in a short time, that's not right

because trading is an investment, so it takes patience, technique, and money management

then choose a broker that has positive reviews and also fast response customer service

shade jenn

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Quote from: Crypto Inferno on November 21, 2024, 03:04:18 PM

What advice would you give a newbie that started trading? Let's say he has decided to leave his comfort zone and get his hands on the it.
Are there pitfalls to avoid? Where is the best place to get started with? Any materials to help grasp the concept faster? Do you mind giving hints on what helped you scale through in your early beginning.

as a beginner, what I can suggest to you is to use capital that you can accept if you lose, so don't use your main income, but use money from your second income, so that if you lose or it doesn't go according to your trading plan, your life can still go on, because trading definitely has risks.

santosmichael

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if you are a beginner, then you can start a demo account first

the goal is to
-you get used to the trading platform
-you can apply techniques/algorithms that you trust
-you can apply money monegement

during the demo, you can have a profit & consistency target, for example 15% only in 6 months, or 2% every month, if the target is achieved then you can start trying a real account with a small capital first until it starts to be consistent then you can add according to what you are comfortable with

Justian1993

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Quote from: Crypto Inferno on November 21, 2024, 03:04:18 PM

What advice would you give a newbie that started trading? Let's say he has decided to leave his comfort zone and get his hands on the it.
Are there pitfalls to avoid? Where is the best place to get started with? Any materials to help grasp the concept faster? Do you mind giving hints on what helped you scale through in your early beginning.

as a beginner you must have a clear trading system first

such as techniques and also money monegement

to be able to get it you can start from a demo account first, then try to be consistent for 6 months, if you succeed in making a profit of at least 10% for 6 months

then you can continue to a real account

and remember during trading do not over trade and also have money monegement

Sir_Garry55

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Quote from: Crypto Inferno on November 21, 2024, 03:04:18 PM

What advice would you give a newbie that started trading? Let's say he has decided to leave his comfort zone and get his hands on the it.
Are there pitfalls to avoid? Where is the best place to get started with? Any materials to help grasp the concept faster? Do you mind giving hints on what helped you scale through in your early beginning.

As a beginner the only thing that should be important to you is seeking knowledge, a lot of beginners nowadays are impatient, they just want to dive into trading and make money from it. This isn't a lottery, it's a financial school that requires determination, consistency and discipline to become successful. Don't expect things to get easy at the beginning, things might seem rough and probably feel as though it's not working out but with time your hardwork is go to pay off. As a beginner just stick to learning more, give yourself time to understand it, if you rush into the market you'd rush out.

GeorgeJohn

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Quote from: Crypto Inferno on November 21, 2024, 03:04:18 PM

What advice would you give a newbie that started trading? Let's say he has decided to leave his comfort zone and get his hands on the it.
Are there pitfalls to avoid? Where is the best place to get started with? Any materials to help grasp the concept faster? Do you mind giving hints on what helped you scale through in your early beginning.

I don't know if I have come across this kind of thread before, but what I know is that if you want to began trading, what you need to do is to acquire the the basic knowledge of trading, because I know very well that trading has to do with skill, and you need to understand the concepts rudiments so that you will not be victims of it, it's quit understanding that the key of trading is to know the concepts and how to overcome loss, to overcome loss will be achieved if you know the concepts of trading.

Fiasem20

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Quote from: Crypto Inferno on November 21, 2024, 03:04:18 PM

What advice would you give a newbie that started trading? Let's say he has decided to leave his comfort zone and get his hands on the it.
Are there pitfalls to avoid? Where is the best place to get started with? Any materials to help grasp the concept faster? Do you mind giving hints on what helped you scale through in your early beginning.

Firstly, I'll say trading crypto is more riskier than investing in crypto due to its volatile nature,so think wisely before choosing.Acquiring knowledge on crypto trading is very important before diving into it,in essence understanding the fundamental strategy of trading it's important to every beginner that has the passion for trading their coins.A beginner who has a passion for trading their coins should also devote that same energy to understanding how the market works, or they risk losing in trading.Those successful traders in the industry started as a beginner,so don't have this double thought if you have the passion for it, keep learning and practicing trading it would help as a beginner,and endeavor to use a legitimate exchange or trading platform.

Victorybit1

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As a beginner you must focus more on gaining knowledge, trying to trade with a live account after learning just for a few months isn't really adviced. You need time to work on yourself especially in the aspect of displine, a trader that lacks displine won't go very far. Find a mentor that is very knowledgeable about it, work on strategy development and make sure you take back tests and proper analysis. Make use of a demo account till you are confident enough to trade on a live account. But be warned trading on a live account is different from a demo account, you can have successful trades on a demo account and lose constantly on a live account. Also the principle of risk management.

kawetsriyanto

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Quote from: Alone055 on January 05, 2025, 04:36:15 PM

No, they don't. Trading is way riskier than investment if you understand the context.

You assume I don't understand the context but you actually who don't know the context. Roll Eyes

Read again what I said above!!!
- I said "almost the same risk", not "totally the same risk".
- I said investing in random coins can also be high risk.
- I've admitted it will be safe to invest in Bitcoin.

Please, please... Read carefully!!

Quote from: Alone055 on January 05, 2025, 04:36:15 PM

Trading refers to the act of buying and selling assets in shorter terms to gain small percentages of profit from each trade, whereas an investment means that you buy an asset and keep holding it for a longer term to get your desired profits and then sell it when the time is right.

It is not as simple as you think. Sure, it is very challenging to gain profits through trading because it is a very short term. However, it will be more challenging to invest in random coins. You don't know whether it will end up with profits or losses. Again I said, the context is about investing in random coins..

boyptc

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The best advice has already been mention and I'll tell it again. And that is to not to trade at all for beginners.

Don't be so hyperactive as if you need to be a day trader for you to earn. That's not true, you can be passive and get to know more the approach of doing the DCA thing.

Quote from: Alone055 on January 05, 2025, 04:36:15 PM

in general, investments are a safer choice for newbies.

Right.

Every newbie out there, this is what we advise to all of you.

Alone055

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Quote from: kawetsriyanto on January 05, 2025, 04:21:18 PM

Trading and investment actually have almost the same risks.

No, they don't. Trading is way riskier than investment if you understand the context. Trading refers to the act of buying and selling assets in shorter terms to gain small percentages of profit from each trade, whereas an investment means that you buy an asset and keep holding it for a longer term to get your desired profits and then sell it when the time is right.

Trading is riskier because it is more difficult to predict the movements of the market in the short run, but when it comes to the long term, it becomes a bit easier. For example, if Bitcoin was at $50k a few months ago, someone could say that Bitcoin will hit $100k in the future, and they would be right because we know that the market tends to go up in the long run. The same person wouldn't be accurate if you ask them about the price of Bitcoin after a week because it is not easy to predict that.

So, even though I agree that newbies need to learn before they get involved, in general, investments are a safer choice for newbies.

kawetsriyanto

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Quote from: Ricardo11 on January 05, 2025, 09:19:29 AM

You are right, in fact, a new user should not go into trading first, because trading is never an easy thing, to survive here you have to learn and know everything about trading first. And for this reason, starting trading first is not the right way for a newbie.
A newbie should start with investing first, especially Bitcoin investment using DCA. If a newbie starts investing in Bitcoin in DCA at the first stage, and decides to keep it uninterrupted for the long term, it gives a newbie a stable entry point, by reducing the impact of market fluctuations.
However, a newbie should start small, and learn trading gradually, and practice on a trading demo account. Success cannot be achieved from trading first, so it is necessary to learn everything before starting trading, and the crypto space should be started from a safe place as possible, such as Bitcoin investment using DCA.

Trading and investment actually have almost the same risks. That's why newbies need to learn firstly before they start trading or investment. I don't think investment will be safer for newbies if they have no proper knowledge. The point is to have sufficient knowledge first before they start trading or investment. Newbies can invest in random coins that may be very risky, it also may lead them to severe losses. However, it will be quite safe to start investment with Bitcoin. But it still requires to know its cycle at least, newbies need to understand the right time to buy and to sell the Bitcoin.

Yep, DCA is quite good way if newbies have limited funds. As long as they start DCA in the bearish season, it is okay to do it. But DCA doesn't guarantee the newbies to gain good profits, it is only the way to collect the Bitcoin. Newbies should know well the strategy in the investment, it is not so different with they way of doing trading.

IMO, it is not a must to do investment first. Newbies can start trading if they prefer to do trading. But makes sure that they have proper knowledge firstly.

Zigabel

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Quote from: adultcrypto on December 30, 2024, 12:16:26 PM

The last thing a beginner trader needs is to take high risk because if he try that, with few losses he will be out of cash and possibly hate trading. Instead of taking high risk, a beginner should even practice demo trading which is paper trading that is available in most exchanges. This will enable the beginner understand how the market works and practice whater strategy he chooses to use for the trading. It will be a disastrous mistake for the trader to be carried away by the desire for quick money so much that they will ignore the need to practice.

Some newbies can literally get lucky taking big risk at the initial beginning of their trading journey but of a truth such at a very beginning of trading could coat them their account as its not a sustainable strategy for trading, it will not be long before they may get to lose their account and all that they have got in such accidents. Paper trading is good but isn't what one should stay too long on as it may not encourage growth rapidly but may eventually geese them to be slow with their growth.

Ricardo11

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Quote from: Judith87403 on January 04, 2025, 05:00:34 PM

Quote from: Crypto Inferno on November 21, 2024, 03:04:18 PM

What advice would you give a newbie that started trading? Let's say he has decided to leave his comfort zone and get his hands on the it.
Are there pitfalls to avoid? Where is the best place to get started with? Any materials to help grasp the concept faster? Do you mind giving hints on what helped you scale through in your early beginning.

Actually, I don't look at trading and I have no idea about how trading works. but before you go into trading I hope you're aware of the risk that are involved in trading? However if it is your first time of being in this crypto space I will advice you start from crypto investment like bitcoin investment so that your first appearance in this crypto space will not be a regret to you, because this trading aspect you're talking about requires enough knowledge before you could think of getting started. isn't what you just wake up one day and decide to start trading, no it never works like that so just make sure you're doing the right thing this is the only advice I have for you.

You are right, in fact, a new user should not go into trading first, because trading is never an easy thing, to survive here you have to learn and know everything about trading first. And for this reason, starting trading first is not the right way for a newbie.
A newbie should start with investing first, especially Bitcoin investment using DCA. If a newbie starts investing in Bitcoin in DCA at the first stage, and decides to keep it uninterrupted for the long term, it gives a newbie a stable entry point, by reducing the impact of market fluctuations.
However, a newbie should start small, and learn trading gradually, and practice on a trading demo account. Success cannot be achieved from trading first, so it is necessary to learn everything before starting trading, and the crypto space should be started from a safe place as possible, such as Bitcoin investment using DCA.

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