Topic: Best trading advice for a beginner - page 5. (Read 1360 times)

Do that one strategy that you already know well over and over enough the strategy only brings little profit, so it better everyday.

And remember this always; it's better to miss a trade than loss the trade.

Hodling is the best advice for real

It is also this same Internet that has made it so easy for people to be mislead in terms of this trading stuff because I know of many people who actually think they are experts after watching or streaming some suppposed trading expert video online. The large number of naive people who have gone into trading just because of this is quite alarming which makes me even think if trading is now gambling that people do just because they have the feeling that they might win.

At first before going into anything try and get the concept About that thing you want to go into, like trading now , you need to dedicate your time to it because is not something that you can just learn over night it takes time and effort to be able  understand and know how it works. And you know there are alot of risk in trading so be cautious with your risk management and stuff , the internet has made it easy for us to grasp information without any stress so all you need to start is on the internet you can get some course and back it up with some online videos (e.g from YouTube) , And we also have trading board here where you can interact and talk more about trading.

Having the money and the knowledge are very important aspect of trading. You cannot be a successful trader if you cannot afford to spend on learning the real business, especially when it comes to futures or perpetual trading or even investing on the spot trading, but guys, you also need the emotional stamina and tolerance to be able to withstand loses and take risks. It is one secret you must learn in trading too else you will always regret not joining profitable trades and engaging in unsuccessful trades due to lack of self control over trading.

I agree with you, a trader needs to gain experience before starting trading, first of all trading cannot be considered as a get rich quick scheme, rather a lot of time has to be spent behind it.
Trading is something where you always have to do proper research and use the right strategy to trade, otherwise if you make a little mistake in market research, you will lose your money. And to do proper market research and apply the right strategy, you have to learn everything first.
People can learn only when they make mistakes, failure is normal in the beginning, but at that time those who can believe in themselves and find out why they made a mistake, can find out the reason, and can correct it, can achieve something good.
Failure is a part of learning, a new trader has to learn from that failure, and gain experience. Only then can you achieve success in trading at some point.

At first you need to make a good research towards trading, because if you don't make a proper research concerning trading you will end up regretting to join trading, in actually sense you need to start with answering questions and also watch online tutorials very well that will enable you to understand the basic things of trading, the basic things that is important is to be able to figure out when is good to trade and when is not good in trading, I know quite well that know when to enter trading and when not has been a problem to soke traders and some people who is newbie, and secondly some trader's doesn't use stop loss order...so at least someone who has passion in trading need to know all this elementary things that has to do with trading so that it will deviate when trading..as I portrays before that learning is the major key that lead you to prosper in trading, but some people will not like to learn and when they get loss or experience loss in Trading they started complaining, for someone to prosper in trading what you all need is to be conscious, and also be determined.

There are 2 things that I want to say since I believe many here already shared most of them.
1. Avoid futures trading if you're a newbie. Treat it like a battlefield with lots of experts on it. If you're inexperience, you will end up losing your money to these people. If I were you, focus on spot trading first and gain some experience.
2. Speaking of experience, expect that your first deposit of capital will be lost. This isn't the case for a few of course, but most of us who started trading for the first time ended up losing our money so, I would say expect for the worst. It's like you're paying the experience that you will get.

AVOID THESE SIGNAL GROUPS FROM DIFFERENT SOCIAL MEDIA PLATFORMS!!!! Please avoid them at all costs and instead of relying on them, rely on yourself. Learn the basics of trading. Learn how to make a strategy and learn technical analysis.

There are many CEXes out there where you can start with, but I'm bias with this one since I'm using it, so I'll say go with Binance.

YouTube will help you gain some knowledge, but experience will help you become a better trader. I've lost multiple times in trading already, and from those losses, I always learn every single time I lose my money. Right now, there's no certainty that I will not lose my money anymore, but I would say that I'm better now thanks to those experiences from the past.

My experiences from the past helped me to be better.

I agree with you. Practically educated traders make their investment decisions by evaluating their trading a lot and they are ready to buy from a lot of floating cash considering the market movement. It is important for beginners to start trading and consider the buying and selling levels of the market and they have the expectation of getting extra profit and the insufficiency of capital. In addition, they tend to make short-term investment decisions. Considering the investment risk, fear of investment is another important level for beginners which can lead them to miss the event, so I think a new investor should try to get long-term holdings.

The tendency to get rich in a short time through trading can be the most harmful because risky investment decisions with a short time and small capital can be suicidal and the possibility of losing capital. Becoming experienced for trading and the tendency to deposit little by little and the strategy of increasing holdings.

That's the kind of mentality that everyone beginner gets they feel trading is a home were you can make bastard money from which is very possible but it won't be something that will be instantly, it will actually take time to get the numbers that we all desire, and the understanding of the market is one of the keys to unlock those doors of success. And if you start well then your journey should be rewarded based on how committed and dedicated you are to the system and the thing is that is not how long you have been there thay will determine what you will get but how smart you are in taking or making use of those opportunities.

You have to work on strategies to use just as you said and secondly you have to put your emotions under serious control because their people that the moment they start failing they will not want anything else to do with trading and it is not suppose to be so, we know that there are periods when you won't have a choice than to accept what the markets groves you at that particular time, and I see how some guys are good at what they do when it comes to trading because of their consistency.

And were newbies are always having a problem is when it comes to learning they don't want to learn but they want to make money and knowledge comes before profit and that is one of the simple analogy they need to understand, before starting anything.

Investing and holding for the long term is better than trading, but that does not mean there is no risk associated with holding, especially when you made mention of picking a few good coins; the coins you might consider good based on your criteria might actually not be the best, as you can't tell the inner motive of some of the team members behind the development of some coins.
 
I don't discourage anyone who wants to trade besides just holding some shitcoins; shares almost have the same equal risk as trading, if not even more. So if the person can do their research very well and study risk management, I don't think there is anything wrong in trading unless they are prepared to hold a less risky coin like bitcoin, which profit is guaranteed if held for long.

Not sure what I've posted before here but still my straightforward answer and recommendation is better to stay disciplined as you know motivation can drive some boosting results but that boost is going to be temporary and after a certain period and after that time motivation is not gonna work but discipline is something which can help you achieve your target with consistency and this is what we need as a base for trading in this volatile market.

Starting trading for the first time as a beginner comes with a lot of enthusiasm and confidence that you’ll become rich in a short time, but in reality it is never like that and you’ll need to pass through series of events in the market which can now decide how soon or how far you’ll become good at trading. Trading requires you to be patience, it requires you to have a strategy that’s working more than 70% of the time you try it, it also requires that you accept failure as part of the process of learning. Nothing good comes easy and when it does, it may be luck and you should work better on perfecting that skill more and not give yourself so much hope that you already won over it on the first trial. When you start to trade, you’ll see more things to look out for, the best experience is the practical experience of it.

A beginner should know from the very beginning that trading is a very risky. Trading platforms cannot be considered as an easy way to make money. The first advice I would give to a beginner to start trading on a trading platform is that he should come to the trading platform with a very small amount of money so that he does not have any regrets if he loses that amount of money. Buy from many dips and sell when the market is pumping a little. Don't be too greedy, sell if you have a small profit. Learn to analyze candles slowly and study trading books if necessary.

Finally, I would like to say that holding is much better than trading for beginners because everyone can do holding but not everyone can do trading. I would also like to say that in a new situation, no one should get involved in futures trading out of greed for money because futures trading is very risky for everyone, whether new or old.

My advice is investing is better than trading. Trading is purely emotional game. Select some good coins and wait for correction and buy. Don't put all your money in coin.

My review on trading is negative as it mostly required years of in-depth learning and understanding before one can start seeing profit from it. Within these years you are likely to lose a lot of money because you will be tempted to test out your trade if you're ready or not. My advice to a newbie is don't go into trading when you don't have a steady cash flow. Rather go into investing with the capital you have or use that capital to start a business. You can tap into that business to get funds you use to fuel your account and practice your trading.

This is the problem. In reality, you can learn faster based on the level of knowledge you can acquire but for you to start seeing results from trading it will take a long time. Being a professional trader takes a lot of discipline, tolerance, learning, and self-build. It's more like the body and emotional activity. When one is in disorder it affects the other one and may hinder you from trading accurately.

This is very vital. Be careful of the resources you get online. The best way to learn trading professionally is to enroll in a professional trading school. You will not just get solid resources from them, but you will have a mentor. The internet is full with misleading information's and people who claim they know a lot about trading especially. Avoid them.

Your statement is absolutely correct and I agree with you.Especially when one is new to trading, the risk of using leverage is extremely high. Leverage offers the opportunity to make big profits or losses with small capital, but it can also cause very quick losses.So it is most important to learn the basics of trading first.
As much as possible, in the beginning one should practice with small trades and make decisions by understanding the fundamentals of the market.It is good to learn trend, volume, and fundamental analysis as they help a new trader to make future decisions and reduce risk. Another important aspect is to follow experienced traders and learn from their experience.Social media, YouTube channels, or trading forums offer new ideas and tips that can help you improve your trading skills.But one thing must always be remembered in the world of trading no matter how skilled you are it will never be 100% correct and there will always be risks and those who are successful have got something good little by little.

The only trade you should concern yourself with is trading your shitty fiat currency for bitcoin and then saving it for 10+ years.

Yes. Avoid shitcoins and thinking that you can make money trading. Just stack sats and hodl for 10+ years.

Just buy some sats and HODL while you continue to learn.

Yes. Here are 21 tools to orange pill yourself: https://www.whatisbitcoin.com/culture/tools-to-orange-pill-friends-family

I just bought, moved to a paper wallet, and then let it sit for a long time. It's this simple.

Having enough money and knowledge is what will help you get a good profit in trading. But this does not mean that your path will always be successful in trading, many traders lost more than one deposit before they could make a profit.

My advice to every new investor is to be well educated before trading, Invest more of your time on educating yourself before trading not only that understand the trading policy aside that you can also get a mentor to put you through it really helps learn from the mistake of other one major thing you have to put in mind is on how to take risk and control your emotions And that's because anything can happen you can't tell because anyone involved in trading most be able to take risk and as a new investor one most start small knowing fully well your new to it. And with time your understand it better

This is the reality for all traders, we're all going to have our own losses before learning. That's how it goes and this is the real cycle for trading whether you have just started or even the long time traders, there are always losses that we cannot control and we only have to admit that we did a bad trade there. So no one will skip losing but it's more damaging to the ones that have lesser knowledge about trading and the market itself. Trading isn't only about the charts and the market but also look at every single thing in the surrounding of the market because they do give affections as well.