Can you help out a newbie trader please? - page 3.

Eternad

hero member

Activity: 1260

Merit: 607

Quote from: passwordnow on April 02, 2022, 06:06:15 AM

I'm not an expert nor a great trader. They're right just as I guess, the problem is that you've started directly with leverage being a newbie. Start with spot and enjoy your stay there.
You don't have to rush it, I've been seeing traders that are enjoying their trades through spot and that's where they test strategies. Practice there with the minimum amount that you can and include reading of charts and candles and for sure that you're going to improve.

Studying the chart and candles will help a lot in understanding how trading works. Better take time to study it while practicing actual trading with minimal amounts to feel the excitement or pressure in it. hough playing with trading simulators can be a opportunity to learn without risk but if you have a bit pf idea in how to trade them trying with minimal amount and knowing the basica atleast of how the chart works and mean then it can be agood start. Just don’t put goo much pressure.

crwth

copper member

Activity: 2940

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https://linktr.ee/crwthopia

There are ways you could approach trading, but the best thing you can do is know why you are doing it in the first place. Once you have settled that and put it on your mind, you could assess how much You would use in trading—the amount of money to learn. You could quickly get the best education out there if you are willing to check it out.

You could enroll with trader communities
Buy Software for trading

This might sound like sales type thing, but this is how I became successful in trading. I bought Gunbot and then learn the strategies built-in already in there and then see if it is a viable trading strategy and then once I realized that it is then I would automate how I would use it.

joeperry

sr. member

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Telegram: @jperryC

I am not an expert but one tip I can give to you is not to use leverage if you are not yet confident with your trading strategies or knowledge. Another thing is don't look for an actual pattern since they are rare and usually don't happen exactly like on the books, those things are just theories and maybe different in actual trades and you should take advantage on the indicators since they are really useful in trading.

If you are getting ridiculed in a trading group then leave on it, it is not a healthy group. Join on a trading group where you can learn and will help you to improve your trades.

ethereumhunter

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

If you are not familiar with trading, you do not have to do leverage trading because that is different than spot trading. You should understand how to spot trading work and learn it until you can make a profit many times. Then you can try leverage trading. Maybe you join in the leverage trading because you see the profit will be bigger than the spot trading but trust me, that will be too difficult if you can not understand how to trade better. Moreover, that will not work if you do not know how to analyze the movements.

Hypnosis00

sr. member

Activity: 2436

Merit: 343

Changing your attitude and strategies may help you to solve the problem.

* Don't go for leverage trading, instead start with the spot trading (less risk and ideal for newbies)
* Don't get easy with the market volatility - it pump and dump, just stay calm
* Focus on learning first rather than focusing on how to make a profit.
* Don't be too emotional - this will thought you nothing but it drives you to lose

Never think there will be an easy trade, never expect you will be in profit once you will get started. There are a lot of things you need to learn, yet it needs experience and time to find those things.

passwordnow

hero member

Activity: 3108

Merit: 577

Leading Crypto Sports Betting & Casino Platform

I'm not an expert nor a great trader. They're right just as I guess, the problem is that you've started directly with leverage being a newbie. Start with spot and enjoy your stay there.
You don't have to rush it, I've been seeing traders that are enjoying their trades through spot and that's where they test strategies. Practice there with the minimum amount that you can and include reading of charts and candles and for sure that you're going to improve.

ryzaadit

legendary

Activity: 2660

Merit: 1261

Agree.

You are learning why you are trading with "Leverage Trading", try to Spot Trading first with a small money. Especially for the money can afford to lose, practice with real money but only small money.

I know some people say, there has some platform who offers you a demo balance. But to be honest, the psychologybetween real & demo balance is different. Leverage Trading is like gamble for a new trader.

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

Quote from: evilgreed on April 01, 2022, 10:24:15 AM

...I only do 5x-10x leverage which is why I still have a few left to trade but still, these losses are just so discouraging. I've been in groups about trading but instead of learning I get ridiculed...

I can point out exactly your main mistake, which is typical for most beginners, is trading with leverage. You need to focus on spot trading, otherwise you will lose your deposit. Only when you trade without loss, you can proceed to the study of margin trading.

hyudien

hero member

Activity: 2156

Merit: 605

Leading Crypto Sports Betting & Casino Platform

Give up on trading? Come on buddy, you don't have to go this far in crypto trading. If you feel that what you have been through in trading has turned everything into a loss, it means that there are several influencing factors. First, Greed (like your name). Second, impatient and always want to make a profit in a short time. Third, the lack of self-control over fluctuating market changes. The volatility of the crypto market is very fast and you should be aware of it from the start.

All of that would surely easily affect the psychology of someone who was too hasty. Trading requires persistence, patience, discipline and my advice is to take a break from trading for a while. Don't play on the green and try to avoid spot trading for a while. Always take the CL method if you feel you are not a true holder.

What I'm saying is based on experience that ultimately made me more of a holder than a spot trader. Because I admit my quality in futures trading cannot be controlled easily.

evilgreed

sr. member

Activity: 728

Merit: 266

As the title says, will any be so kind as to help an aspiring trader like me? I have read and watched dozens of articles and videos online as long they are free but I still suck at trading and the patterns along with the ways never seem to work. I only do 5x-10x leverage which is why I still have a few left to trade but still, these losses are just so discouraging. I've been in groups about trading but instead of learning I get ridiculed. I try my best but all the information available online are soo intimidating and are bombarding me. I do not know where to focus and I am at the verge of giving up. Making this post is my last push to learn trading. Some may suggest paid knowledge or getting myself a mentor but too bad it's pretty expensive for me right now. I just hope someone here can suggest what I should focus on learning about first or what strategies to focus on first as a beginner. Thank you so much for anyone who would help.

Topic: Can you help out a newbie trader please? - page 3. (Read 317 times)