when someone doesn't really have a job but they believe that they can make money from trading every month to payback the loan on time.
That will lead to unexpected disasters. Because you should not commit anything out of trading profits. Some weeks you will book will losses and some other weeks you may make profits but when you're having some big commitments like paying back loans then definitely that will put you under pressure which will usually ending up not able to focus on your technical analysis.
Topic: Do not hide your hard feelings about trading; share the experiences - page 2. (Read 405 times)
April 09, 2021, 05:04:04 AM
April 09, 2021, 04:37:43 AM
You must write down your profit and losses and then calculate whether you need to reinvest more or stop investing until you get proper trend.
Keeping track of investments made and profits/losses must be a necessary step every trader must do so that they could calculate how much they are making out of their time and efforts. When you are calculating without writing down then you will never get chances to analyze your own performance.This must be one simple thing where most traders are failing because they are not finding enough time to note down their expenses and profits. These days lots of apps are available to track our performance but I am still preferring making use of paper and pen for this.
when someone doesn't really have a job but they believe that they can make money from trading every month to payback the loan on time.
That will lead to unexpected disasters. Because you should not commit anything out of trading profits. Some weeks you will book will losses and some other weeks you may make profits but when you're having some big commitments like paying back loans then definitely that will put you under pressure which will usually ending up not able to focus on your technical analysis. April 09, 2021, 04:09:53 AM
No one can be successful in all the things they are doing for their entire life time so trading the chances are high when you are just going to begin it. It is possible to get back the lost money but what newbies should learn is which capital they should invest on trading cryptos.
They should never invest the loan money as capital or they should not use any amount which is not affordable for them to lose. Even though you can make profits for every trades it is impossible in real life so all you need to have is a monthly target like 1 to 5% for any kind of trading that may work and lead you to a successful path in long term.
I believe loans are not as bad as people claim them to be if you know how to use it. People act as if loans are the worst thing that could happen to anyone but the reality is that loans are not that bad, in fact they are pretty cool if you can pay them back with ease.They should never invest the loan money as capital or they should not use any amount which is not affordable for them to lose. Even though you can make profits for every trades it is impossible in real life so all you need to have is a monthly target like 1 to 5% for any kind of trading that may work and lead you to a successful path in long term.
Let's say you make 1000 dollars per month (maybe it is low for USA but it is not bad for many other nations) and you take out a loan that makes you pay back 50 dollars per month, it is a very small loan, it is a 1000 dollar loan that you pay back with 50 dollars per month. That doesn't mean that it is a bad loan, it is in fact a great loan, you could take it, use it to invest, if you are doing great you will pay the loan back in no time, and if you are doing bad you can pay the loan back anyway because you make so much more salary.
This is why not all loans are bad. Obviously if you make 1000 dollars and take out a loan that makes you pay 400 dollars per month or more that is going to be very difficult and it would be dangerous, so you should not do it if you can avoid it.
April 09, 2021, 02:01:36 AM
You must stop when you book profits, greed is enemy of all!!!
Well this is the emotion that I have deep down in me when I do trading. Whenever I have traded my portfolio I have observed that I do get profits all the time. But, honestly speaking I loose a lot whenever I see bearish trend is coming and I buy more than I could afford out of greed. So it nullifies all the profit that I had beforehand.
So take this as one of the lesson. You must write down your profit and losses and then calculate whether you need to reinvest more or stop investing until you get proper trend.
Well this is the emotion that I have deep down in me when I do trading. Whenever I have traded my portfolio I have observed that I do get profits all the time. But, honestly speaking I loose a lot whenever I see bearish trend is coming and I buy more than I could afford out of greed. So it nullifies all the profit that I had beforehand.
So take this as one of the lesson. You must write down your profit and losses and then calculate whether you need to reinvest more or stop investing until you get proper trend.
April 09, 2021, 12:09:06 AM
Cheer them up that not every successful trader today went to the top on an instant.
Everyone has to go through several failures for them to be the best in what they do. And what the newbies experiencing with various losses are very essential and normal for them to use those experiences in the future..
It is smart to learn from your mistakes but it is wise to learn from the mistakes of the others. Yes experience is the key but you also have the necessary knowledge because even if without experience you can curtail your possible losses. Remember that experience will only be gained if you start trading so knowledge is important. Everyone has to go through several failures for them to be the best in what they do. And what the newbies experiencing with various losses are very essential and normal for them to use those experiences in the future..
April 08, 2021, 10:50:24 PM
My experience in trading is little but somewhat substantial, in 2017 I began to learn with technical analysis but it really went very wrong, everything I learned from technical analysis did not help me, the lines, everything did not serve me, the truth at that time I could not do anything and I lost a lot, the truth is that I do not regret telling you that, you have to assume when you are wrong. Then, some time later what I did was look for books by Wyckoff and Jesse Livermore and I became aware of those market speculators, I have not been able to apply everything I have learned because trading is an everyday knowledge, but it has helped me to understand more the market. I always recommend everyone to read those authors because they are great advisers, and to understand even more is the Book "A Random Walk Down Wall Street" by Malkiel Burton.
April 08, 2021, 06:36:08 PM
Most newbies in the crypto currency space who are just learning trading are most times only fed with the profit side of crypto; once such newbie experience loss on trades; they get disappointed. The best thing while teaching newbies about trading is to educate them about the profits and loss side; so that when they are in profit they are grateful; when they are in loss; they know they will make the funds back.
What suggestions do you have ? how do you guide your newbie traders under your tutorship? do explain below lets learn.
What suggestions do you have ? how do you guide your newbie traders under your tutorship? do explain below lets learn.
I dont teach someone to trade but there are actually who do ask out.Im aint a good or professional trader for someone to be taught on because im always the one who do
seek out for more informations or ways for me to learn up trading and make benefit out of it.Its true that most common mistake is when we are still noobs and those
errors would cause up lose will surely be giving out that stress and regretful situation and when we do make money then its somewhat do make out some boost.
When someone do ask out about on how you do trade then its better to tell them about learning the basics and create their own strats.
April 08, 2021, 06:03:37 PM
Cheer them up that not every successful trader today went to the top on an instant.
Everyone has to go through several failures for them to be the best in what they do. And what the newbies experiencing with various losses are very essential and normal for them to use those experiences in the future.
Cheering them will help and advising about controlling their emotion too.
Everyone has to go through several failures for them to be the best in what they do. And what the newbies experiencing with various losses are very essential and normal for them to use those experiences in the future.
Cheering them will help and advising about controlling their emotion too.
April 08, 2021, 05:49:03 PM
I'm not an expert trader also I just have a litlle experience to trade. Since 2020 I started to trade, indeed at that time when the first time I made an entry I don't have any knowledge to trade. I just guessing the market movement and finding a lot of suggestion like joining some signal trading group. And most of my trade at that time just filled by loss and loss, I got a lot of profit but it is just for a while the next trading I got a huge loss than before.
So as, I just thought and I quite my day trading for a while and looked for some reason why I did that. Until, I found a big reason for it that I don't have a trading system or I don't have a knowledge against trade. I learned many time, readin some trading strategy in any media and bought some trading books and it was work. I have a trading system and I have a knowledge about psychology trading and yeah I can compare my previous trading and now, it is batter now.
So as, I just thought and I quite my day trading for a while and looked for some reason why I did that. Until, I found a big reason for it that I don't have a trading system or I don't have a knowledge against trade. I learned many time, readin some trading strategy in any media and bought some trading books and it was work. I have a trading system and I have a knowledge about psychology trading and yeah I can compare my previous trading and now, it is batter now.
April 08, 2021, 05:34:46 PM
What suggestions do you have ? how do you guide your newbie traders under your tutorship? do explain below lets learn.
If the newbies are willing to learn first about trading, we can really tell them about the readiness of them for the risks of trading. I will never tell first about the profits of trading, but I will tell and introduce them to the basic thing of trading and also the risks, until the worst risks of trading cryptocurrency. Losing money and also being stuck because of the price down again and again. Well, it is important also to share our self-experiences both the good and bad experiences. Tell them about the profits and also loss probability. In trading, we may be not always profits and also loss. There is time for us to lose our money but there is also time for getting profits from trading. And there may be also times where we cannot sell the tokens because of dropped prie and we don't want to set any SL.
BUt at first, ensure their readiness and also willing to learn at first before trading.
We have quite a good number of threads about trading advice already. Take a look at the responses:
Topic: Tips for Trading https://bitcointalksearch.org/topic/tips-for-trading-5312436
Topic: what successfull trading tips have worked with you so far ? https://bitcointalksearch.org/topic/what-successfull-trading-tips-have-worked-with-you-so-far-5294229
Topic: Simple trading advise for newbe that should follow https://bitcointalk.org/index.php?topic=5237405.5
Topic: what do you think the best way to gain when you trading? https://bitcointalksearch.org/topic/what-do-you-think-the-best-way-to-gain-when-you-trading-3893270
Hopefully many newbies and also we have willing to read these informative threads. ANd many more threads are also available to learn in this forum. Topic: Tips for Trading https://bitcointalksearch.org/topic/tips-for-trading-5312436
Topic: what successfull trading tips have worked with you so far ? https://bitcointalksearch.org/topic/what-successfull-trading-tips-have-worked-with-you-so-far-5294229
Topic: Simple trading advise for newbe that should follow https://bitcointalk.org/index.php?topic=5237405.5
Topic: what do you think the best way to gain when you trading? https://bitcointalksearch.org/topic/what-do-you-think-the-best-way-to-gain-when-you-trading-3893270
April 08, 2021, 01:57:15 PM
I think so too, people who can, not about who has the most failures. But people who can are people who can learn from a failure they have experienced. Because of course, almost all of us have been at that point. Learn and fail, for those who want to keep trying to survive in the midst of that exposure. Believe me, if you are confident and capable of what you are doing it will produce good results for yourself. It's not easy trying to stick to a position where only failure comes. Here is where we will be tested, whether we will continue to live with enthusiasm and keep trying to change it or if we just stop there. Again, it all depends on ourselves.
Everything we learn or we get may not be of no use to us. You can even take advantage of failure, for the next phase. Learning from failure is necessary and in the process do not think about the benefits we will get, it will blind us. In the process we need to take every step of the way carefully. Experience teaches us to always take advantage of all circumstances. both the past and the present. Keep trying until you meet your point of success.
If you make mistakes that's fine, people should learn this already, it is not that complicated idea, if you are good at something that means you were bad at something once upon a time. I know that there are people who learn about music since they are five, there are little kids who are 5 years old playing the guitar, I know that happens, that's why when you are 30 years old or even older and you want to learn playing guitar you see those people and think that you are too late, but believe me even those 5 year old kids were horrible when they were 3 or 4, that makes it hard for you because when you are 3 or 4 you suppose to be bad at everything, but they didn't suddenly become good, they learned it.Everything we learn or we get may not be of no use to us. You can even take advantage of failure, for the next phase. Learning from failure is necessary and in the process do not think about the benefits we will get, it will blind us. In the process we need to take every step of the way carefully. Experience teaches us to always take advantage of all circumstances. both the past and the present. Keep trying until you meet your point of success.
Dennis Rodman wasn't even a scholarship worthy player when he was in college, he became one of the most known NBA players in the world. Just because you are not good now doesn't mean you won't be in the future, give enough time and you will become a great trader, but you gotta start with being bad and work your way into being good.
April 08, 2021, 11:16:04 AM
My first trading experienced is when I had done trading with the exchange expert option, I always see in the ads this kind of exchange so I got curious about it and then tried it, at my first try I really felt joy because of winning maybe I earned almost 100% of my capital I only trade $20 that time but when I already have almost $40, ai no longer gets win and lose all of it, so I never tried it once again because of thinking that trading is not for me, but in some other months I tried to trade in binance and still I also lose my $20 as well.
April 08, 2021, 10:27:00 AM
Nah I don't think we should educate them, let them lose something, then educate them. Not saying that they'd all lose, but I'd reckon a majority would. Losing isn't a failure, rather it's just a step to success imo, and honestly, losing money in my trades when I started was a far better experience than reading some stuff about how trading works (especially in the mental aspect).
Though if we're talking about educating them, then basic risk management is the minimum I suppose. And the mentality that, in trading, you'd always lose money. It's not all fun and games, nor is it just a quick way to get rich. But hey, that's been said a thousand times so I suppose newbies who are getting into trading already know it, so goodluck with ya'll.
Though if we're talking about educating them, then basic risk management is the minimum I suppose. And the mentality that, in trading, you'd always lose money. It's not all fun and games, nor is it just a quick way to get rich. But hey, that's been said a thousand times so I suppose newbies who are getting into trading already know it, so goodluck with ya'll.
You are right, it is actually difficult for some traders to realize that they need education, failures are the only ones that teach the best. We must also consider that many traders lose and do not know why, and when they win in the same way, many draw conclusions that this was the best plan, that they were able to predict the movement successfully.
Luck is a notable factor that many traders look for, it is like betting, the only thing is that it is not the best strategy to leave everything to luck, I always advise operating with a maximum Stop Loss of 8%, some let it advance to 10%, and gains up to 24%, if I win excellent if I do not assume the loss and change my plan because obviously that was not the correct vision of the market.
April 08, 2021, 10:22:39 AM
When you have no experience on trading site,Then you will loss every single trading time.When you have newbie then I advice you. You need to learn how to make good profit total or win by trading. You also need to know loss site.And you need trading signal from more experience trader then You invest and can get more profit.
Let me reiterate, the reason that a lot of people are losing in trading is because they lack knowledge, experience is gained only if you trade and not the other way, @Mamun74's advice is kind of pretty vague because making a good profit or winning by trading is a strong word especially for a newbie and a lot of traders are likely to lose when trading. legendary
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April 08, 2021, 10:18:26 AM
we all have some hard feelings and bad experience in trading world. I have also the same. One of them is I am was very panic trader and always buy when I can see the coin raising. After buying it I saw the coin going down. and panicly when I sold the coin and see the coin going up again. Meanwhile I lost some of my invested money lol. This was my bad thing in crypto. but recently I am already reduced those things but not the all.
April 08, 2021, 09:57:47 AM
When you have no experience on trading site,Then you will loss every single trading time.When you have newbie then I advice you. You need to learn how to make good profit total or win by trading. You also need to know loss site.And you need trading signal from more experience trader then You invest and can get more profit.
April 08, 2021, 08:58:43 AM
Most newbies in the crypto currency space who are just learning trading are most times only fed with the profit side of crypto; once such newbie experience loss on trades; they get disappointed. The best thing while teaching newbies about trading is to educate them about the profits and loss side; so that when they are in profit they are grateful; when they are in loss; they know they will make the funds back.
What suggestions do you have ? how do you guide your newbie traders under your tutorship? do explain below lets learn.
Suggestions?What suggestions do you have ? how do you guide your newbie traders under your tutorship? do explain below lets learn.
If you are still like fresh new in trading, virtual trading would not hurt that much since you will surely still learn the ropes behind the indicators and TAs.
Once you're familiarized already, do an actual trade already.
You will learn more if you actually felt the "loss" rather than continuously doing virtual trading wherein you won't mind losing because it is not your money anyway.
April 08, 2021, 08:26:19 AM
Most newbies in the crypto currency space who are just learning trading are most times only fed with the profit side of crypto; once such newbie experience loss on trades; they get disappointed. The best thing while teaching newbies about trading is to educate them about the profits and loss side; so that when they are in profit they are grateful; when they are in loss; they know they will make the funds back.
What suggestions do you have ? how do you guide your newbie traders under your tutorship? do explain below lets learn.
Trading can't be all in profit, losing is a part of it but why it is mostly happens to newbies, they are probably have less experience. Yep, become disappointed when we lose is a natural feeling and we can't hide that. What suggestions do you have ? how do you guide your newbie traders under your tutorship? do explain below lets learn.
But if we wanted to have a positive result from our trades, we have to keep going despite the losses we experience. Quitting could only be the last option if we find it hopeless and see no improvement of our traders even though we spend a lot of our efforts. This means that trading isn't really for us and we need to force ourselves to believe then. That just a suicide.
April 08, 2021, 05:22:13 AM
Most newbies in the crypto currency space who are just learning trading are most times only fed with the profit side of crypto; once such newbie experience loss on trades; they get disappointed. The best thing while teaching newbies about trading is to educate them about the profits and loss side; so that when they are in profit they are grateful; when they are in loss; they know they will make the funds back.
What suggestions do you have ? how do you guide your newbie traders under your tutorship? do explain below lets learn.
What suggestions do you have ? how do you guide your newbie traders under your tutorship? do explain below lets learn.
Why not just teach newbies on how to manage risks effectively right before letting them engage onto crypto and trading in general? Regardless of having no profit or even having a huge luck of gaining constant profit, time will come that once a newbie never applied nor learned risk management, all of his progress could just circle around and go back to square one. It isn't a matter of "hiding" one's feelings. It is about not letting yourself experience such feelings just by a simple management of risks on your trades.
I think so too, people who can, not about who has the most failures. But people who can are people who can learn from a failure they have experienced. Because of course, almost all of us have been at that point. Learn and fail, for those who want to keep trying to survive in the midst of that exposure. Believe me, if you are confident and capable of what you are doing it will produce good results for yourself. It's not easy trying to stick to a position where only failure comes. Here is where we will be tested, whether we will continue to live with enthusiasm and keep trying to change it or if we just stop there. Again, it all depends on ourselves.
Everything we learn or we get may not be of no use to us. You can even take advantage of failure, for the next phase. Learning from failure is necessary and in the process do not think about the benefits we will get, it will blind us. In the process we need to take every step of the way carefully. Experience teaches us to always take advantage of all circumstances. both the past and the present. Keep trying until you meet your point of success.
April 08, 2021, 12:27:16 AM
Obviously, when talking about trading there are times when you lose some and times when you win some. It is the nature of trading, but when losing what's important is to not give up there... Try to get up and try again, this time smarter and armed with more knowledge than before. I found that only this way you can improve and find the courage to HODL even during tough times.
Just like when gambling,,, just like when investing, right? If it is too good to be true (that you will never lose or you will always be guaranteed profit) then it is probably not true.
I sort of disagree about giving up though. I think some people will never be good traders no matter what. Should give up if they tried very hard and still cannot make profit. Find something else that does:)
Yes It's just a matter of learning. Those experts we look up how they got richer had once been a newbie in their career. There are tutorials we can read online and the first thing they introduced for newbie traders is to learn how to use the indicators, what the indicators do, and when to buy if the indicator reacts this way or that way.
I have always relied upon indicators that I know very well how to use. In crypto, there is no good or bad trade as long as you got the coins in your account. Just make sure the coin you trade are the good ones.
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