Topic: Best trading advice for a beginner - page 3. (Read 1360 times)

You are right there is some much risk involved in trading accumulating and hodling bitcoin for a longer time is the best way to go if the money to start up bitcoin investment is available provided you have a steady cash flow you can also set aside your discretionary income and start accumulating Bitcoin gradually using the DCA strategy to accumulate Bitcoin where you can be accumulating Bitcoin regularly either every weeks or months irrespective of the price of Bitcoin and HODL for longer periods of time which probably be between 4-10 and more.

A clear example of misguidance. The guy you have mentioned must have watched some influencer saying it is very easy to earn money from trading, or he might have seen a lot of clickbait images on YouTube and social media platforms where people only show their profits to instigate curiosity among people but they never show their losses and newbies think that you won't lose much in trading and it is a great opportunity for them to make easy money.

There are indeed countless opportunities in this market, and people are earning a lot of money from it, but everything is possible with knowledge and experience. You can't expect to have the same results as a newbie, which a person gets after spending years in the market and the industry. So, the first step for newbies should be to understand everything properly.

These social media influencers and YouTube content creators only tell you vaguely about things, they won't talk about clear risks because afraid of scaring people away and they don't want that since it can possibly reduce their viewership.

The best thing to do right now is to keep learning, and at the same time keep looking for capital to start your trading journey; do not borrow to start even if you have good knowledge about trading. If you are able to get it right, you can be confident it the little amount of money you have to start trading in order to grow the capital, and do not be greedy so that you can maximize your profit.
If you want to trade, do always use exchanges that have good  reputation to avoid losing your money to exchanges.

any beginner that started trading newly, I will only advice the person to learn properly before they involve themselves in trading, because most at times what make some of us to complain about trading is inability for us not to learn properly, trading is not gambling, so it's gambling you will think that it has to do with opportunity only, but in trading you have to know some key things that will make you to overcome loss, but people doesn't know such.in trading the primary thing there is ability to understand the basics things of trading,  so that's the thing a beginner have to know, and a beginner should not be desperate in trading because out of desperation leads into lost.

I completely agree with you about people wrong ideas about trading. Many people think it is way to make money quickly and easily but that is not true. Trading requires being careful and patient and having good plan. By the way it is sad that your friend did not listen to your advice and kept losing money. It is very important to think realistically about trading and understand that it takes time and effort ot just quick try. I hope your friend will learn from his mistakes and start trading in smarter way.

As a newbie who wants to go into trading he or she should be aware of the risk they are going to take during their time or period in trading. Trading may seem to be easy to some people, some set of people think trading is easy and the reason is because they haven't incur loss or maybe they haven't venture into it already. Trading to some extent is more than just learning, analyzing and some sort of calculation perhaps it entrails or it is beyond just that and having a strategy is very good but one should know that strategy doesn't work all the time because the market is very hard to grasp and in this note I won't advise any newbie to venture into trading yet but they should have more knowledge and understanding and also grow to an extent before they can think of trading. It has render some people useless and some people has also made it through it.

Trading is not a get rich quick scheme but most people normally have this feeling that whenever they enter trading that they are going make quick money which is leading them into losses, just like what one of guy was telling me recently, the guy is a trader he said that whenever they paid him salary that he normally use all the money in trading, and at the end of day this guy would end up losing. I have advise him so many times that trading is not a get rich quick scheme but this guy didn't want to hear which is coursing him more losses.

I don't have much experience in trading either. But I have been wandering around the trading platform for quite some time. Since I don't have much experience, I can't get involved in trading, and since I don't have much cash, I can't trade on the trading platform. But I thought in my mind that with some cash, I will slowly prepare for trading because if you don't take risks, you can never learn anything successfully.

Very good advice, yes for beginners who want to enter the crypto world, they must learn slowly about market analysis first because by learning to analyze the market, traders can develop or seek profit in it.
And in my opinion, as a beginner, you must also have a good awareness that trading is not a place where someone will get rich quickly because in it there is a process that is not easy and requires patience and precision in acting.

Expert advice to stay on the moderate side of investing at all times can change your life and you can prioritize your strategy. Learn to avoid putting your entire capital into trading. Learn to invest in disposable income. Take time to build an emergency fund gradually. You can apply these tips to any investment short or long term and try to keep yourself away from poverty.

In the beginning of trading you should build up your investment portfolio by making regular buy and spread your accumulate over different periods. Build a decent sized holding in the portfolio and then decide whether to invest long term or short term.

You should be interested in long term savings over short term trading if you have a sure source of discretionary income. And you should withdraw yourself from short term trading profits for long term financial potential. With a few years (4-10 years) of  savings you can spend your retirement time with a lot of financial peace of mind. Try to increase your savings over time.

In fact, trading will give you two things, either it will make you very rich, or it will make you completely poor. First of all, trading is not for everyone, "trading is very difficult at the beginning", but while learning trading and trading on a demo account, it will seem very easy to you, but when you finish learning trading and start trading with real money for the first time, trading at that time is not like trading on a demo account. that time trading will seem much more difficult. you will lose a lot of money at first, you will continue to lose a lot, and this loss is the main time to learn trading well.
During this time, those who will observe their mistakes more deeply, and later correct those mistakes well, only those who will achieve success in trading at some stage. But during this time, those who will become emotional, and continue to trade on emotions, will lose everything in this way, and they will never be able to achieve success in trading.

Am not a trader but if you want to trade Bitcoin (crypto) you need to be patient and consistent so that you can understand the market, also be updated on daily analysis in trading. Before this you need to know that trading is not a get rich quick scheme because this is what makes a lot of traders to lose their capital and their profits. However, a trader shouldn't trade with emotions because emotions can ruin their trading career. You also need to manage your risk on risking what you can afford to lose by setting stop loss.

I don't see the gambling in trading up to that extent of 70%, I'm not disputing the Idea that there's some kind of gambling in trading but it shouldn't be that higher for a trader that knows what he's doing.

When you know your stuff, you won't be gambling but taking a bold step that you're almost guaranteed to be in profits by the end of your trade. The few times that I traded I found it quite entertaining because for you to make a prediction repeatedly and it all come out as you predicted, it shows that you know what you're doing and this make the difference.

An advice I can give someone that has not traded before or is just picking interest is to ignore it and focus on being an investors. Just look for how you can be getting steady inflow of cash and be buying Bitcoin.

Trading it self is meant for everyone I don't understand why most people think it is only the newbies that experience losses in trading while there are millions of experience traders who still losses money like newbies.

Now concerning the issue of newbies jumping in to trading, the only thing I will advise is for the newbies to attain some level of training before trading because it will help them to know the right time to trade and how to enter into the market.

Any trader who still losses money as a result of trading with emotion is an unserious trader this is because he or she already knows that it is difficult to think right when your emotions are not stable, traders should learn to be calm, courageous and smart, you either gain or loss in trading the choice is yours to keep trading.

They said that every successful person starts with the decision to try, but for a newbie is very important for them to seek for enough knowledge about the trading before they should introduce themselves into it; since it involves of many risks and as a newbie’s they can’t get mind of afford every risks that is involved: that’s is very good if a beginner can try to have knowledge before trading so their future will be bright with profits.

Trading deserves a lot of things that he/she need to know so that they can know face any challenges when ever they across any issues, because not every beginners are able to stay active online in every moment and that’s what the trading deserves and then have enough capital that you can start trading that’s all.

If you look at the process of trading, you will understand that it is very similar to the process of gambling. If the gambling in gambling is 100%, the gambling in trading is up to 70%. But for those traders who do not know how to trade but decide to trade, they are actually gambling. You cannot successfully separate gambling from trading. Has cryptoprincess has said, if you are not sure of the outcome of your investment or it is something of 50/50 chance, know that you are gambling. If you look at trading or crypto investment, you are always advised to thread what you are able to lose and that same advice goes to gambling. You should only gamble the portion of your money you are able to lose.
However, why gambling depends so much on luck, trading in the other hand depends both on luck and skill.

To start trading for beginners, especially if you want to get out of your comfort zone, and have to trade with high risk. The first thing you must have is the right crypto trading exchange, and there are several things to consider when starting crypto trading, including you must understand how crypto works, learn the basics of blockchain, and you must start trading with a small capital. Those are the basic things to do, don't underestimate the basics in the crypto world, especially now that you are in the right forum, of course it will make it easier for you to learn trading and learn about crypto that has a strong foundation from this forum.

This forum is very complete for learning cryptocurrencies, especially for trading, the most important thing is not to be lazy to read, many provide complete explanations of the basics of crypto and the concept of self-storage. The point is, after you learn the key to success in trading, the decision is back to yourself. because each individual must research and fully understand the risks associated with investing in cryptocurrencies. With extreme market volatility and the potential for fraud, you must always be aware. So before making a significant investment, it is very important to do your due diligence and only invest in reputable platforms and coins.

Trading can be highly risky that’s why beginners as much as possible should stay away from trading. However, we can’t stop these people to enter trading if they really insist to try trading, hence they should practice high caution, otherwise trading can only be a waste of time and money.

Furthermore, if a newbie decides to enter trading, he must be well-equipped with the different resources available, be it online or offline. And never trade with emotions as it won’t be based anymore with analytical data but high emotions that can trigger the success of your trade.

I see things like that only differ in how they work because investing in a business whose ultimate goal is to sell products that have been made by others into the market will not be much different from trading in the market which in essence also has to buy one or several coins for the purpose of profit in the days to come. And actually it can only be considered as a trade, not an investment, even though it basically also requires initial capital, but if someone immediately buys Bitcoin and holds it for a long time without selling it in the near future even though they have seen a profit of several percent, something like that is worthy of being called an investment because they don't have to monitor the market every day.

Consistency, ambition and dream... Trading was something I never imagined to have learnt in my life time. I always feared the risk of loosing money to the financial market as trading was very risky the way I looked at it back then. Though I can't yet call my self a pro, but with the little experience I already have, I can proudly call my self a trader. What got me this far was that I actually went out of my comfort zone to learn more about trading. Even when I kept losing, I didn't stop as I know if I was able to learn, I would make back more than what I lost to the market. That's how trading works. You just have to be consistent