Topic: How did you overcome the hurdles and gain confidence to trade as a Newbie? (Read 797 times)

I agree with that principle as long as newcomer have that long patience before entering this business, it's important to know every factor that will allow you to gain profits, while in the process learning different things can establish your understanding and that will take place if patience is already installed inside you.

With every market movements there's corresponding reaction, having that skills of adopting coming from every experienced that
you will encounter will lead you to a much better results.

I have once again reviewed the profit that I currently have in trading and am again convinced that holding can bring greater profits with significantly less time spent. A trade can be good to increase the quantity of coins you hold, but this is only if you are good at it. Otherwise, it’s better to just hold and wait for growth, this will work for anyone who has enough patience to get the expected result.

This is especially true for beginners who have not yet developed a clear strategy and do not understand how everything works. In this case, it is simply better to buy and hold, this will give you a better chance of making a profit.

By learning from all my mistakes in trading and decide not to quit but continue to trade as long as there are available funds enough to trade. I know that trading is really hard and tough, but if you are determined to win from your trades and be profitable just like other traders, then you should hold into it that one day with your patience and positive motivation, you will also make the most in trading.

Gaining confidence in trading never happens in an instant, but with continued trading and trading for every possible winning trade, that experience boost my confidence in trading.

Despite of many struggles and hardships  in life during your investment or trading, you should always find that wisdom to keep moving forward,  confidence can be developed if you are keen in learning everything that will guide you to succeed.  Many people quit right after that bad experience which commonly happens with newcomers.

But if you are aiming to succeed better to use that mistake or failure to improve and keep that positive mindset to develop good skills in anticipating better outcome.

Your experience in the market will always be a big factor to boost your confidence in trading. Despite of the losses you achieved through trading, you are also learning from them that makes you an improved trader in the process.Trading is not easy and it takes a lot of knowledge and skills for you to become a successful trader. If you know how to value your past trades regardless if they are wins or loss, that will be a good factor to make you a confident trader in the market.

Confidence is built through years in trading, and that will only happen if you don't quit easily despite of the struggles and hardships you experience in trading.

A newbie can only be confident in trading if he or she has mastered how to trade after learning it for several months or years depending on how fast he or she is. That's when the newbie will talk about being confident in trading.

For someone to call themselves a confident trader, they must have learned how to control their emotions long ago, not to be moved by tears even when lost a huge amount in trading. That takes a long while for someone to learn how to keep their emotions in check and choose a confident approach to their trading instead.

Trading can be really challenging for both new and old traders. To be honest trading is not all about the number of advices given to you, normally all the advices are good but all that matters is how you follow them. So all you just need is self control and principles. know when to trade and when to not, know when to call it a day no matter the profit or the losses y. And focus more on lesser losses even when it make your profit low.
 
And don't forget always trade %1 of your cash as a new trader....

I know just one thing that practice makes the man perfect. If you do practice continuously then one day you will definitely succeed. I think trading is not a skill. It's a passion.
A trader always find opportunities in making profit. A best trader is who that wait for the right time to take entry in the market

It cannot be denied that trading is very difficult to get profits or gains consistently and to manage yourself to do it wisely and smartly. especially an newbie. However, that doesn't mean it's impossible. A newbie can also do extraordinary things if he is really serious about trading. Usually, they will study first to prepare themselves with adequate knowledge and really good skills and skills. especially with emotional maturity which may be done gradually. It's not easy to become a pro trader, but it can be done gradually through a process that is certainly not easy. As long as you don't actually trade with zero knowledge, of course a newbie can also develop well. Once again, make sure you can control yourself and your emotions so that you can survive in any condition.

I fully agree with all these statements. On this post there are many answers mixed: some people giving advice as investors... others as traders.

But is important these kind of posts for newbies and for intermediates traders that find themshelves on a lost pattern (maybe there are not intermediate at all). I would like to point, based in my experience, what is needed to begin to trade for newbies with some confidence:

1. Read books and avoid paid groups, paid courses, youtube videos and so on. Reading books about trading has been the most fulfilling experience for me.
2. Understand the market via backtesting the asset, commodity, forex or crypto you want to trade.
3. Again, backtest an strategy that you think might work. At least with 10.000 candles, preferred 20.000 or more. (be happy to design strategies with a win ratio of 40%)
3. Don't trade in the first years with small timeframes (5m, 10m, 15m...). Better trade in 1h, 4h, 1d...
4. Paper trade during a period of 100 trades at least. That means live trading with a demo account or just writing the calls you would have taken, and why.
5. Make a log in excel of all of your trades, including emotions while opening, surfing and closing the trade.
6. Don't leverage more than 3x-4x, and be constant with the same leverage for all your positions on that pair.

To finish I want to share a sentence from Peter Brandt's book "Diary of a Professional Commodity Trader" that is so true: Like it or not, buy-and-hold strategies are a joke. Every decision you make in life represents a trade-off. Everything is a trade. Everything is a gamble.

Any strategy should outperform all crypto bullmarket-bearmarket.

The starting point of any business is very difficult for a businessman. It takes a lot of time for a trader to understand how to trade. Where other businesses require a lot of thought, trading in Bitcoin requires a little more thought and a little more challenge in the beginning. It is difficult for a bitcoin trader to make a decision in the beginning, a bitcoin trader starts his business from the dilemma of what decision to make for his business and which decision will go in his favor or which decision will go against him. I didn't think much about this bitcoin business in the beginning, since I started my business with a small amount of money in the beginning, the volatility of the market did not cause me to be restless, but I trusted myself and waited for the good market time. With enough patience, courage and self-confidence, I got through the beginning of Bitcoin trading.

As beginners, if they have a lot of financial support to trade, they will tend to use a fairly large amount to trade,
because they think any trade that uses a lot of money, it will make a lot of profits in an instant.

Though, it will be more risky to lose more money.
Moreover, trading with Futures Mode, beginners only second-guess the price and this is the same as gambling.
Liquidity's wrong guess will come and take it all.

Then you need good basic knowledge and self-control not to use all the money.
There must be good capital management for the trade to go as planned.

On the time that you do start up then it would really be always best that you should really keeping on engaging with trading because experience is the best teacher and this is something which it is normal.
Startup with small amounts and never ever make yourself that look like a gambler on who do really love on making some all in kind of trading. You wont really be able to go further if you do make yourself that
having that kind of behavior. Hurdles and challenges would really be along the way on which it is really that part of the learning process, even if you do consider out yourself to be that veteran or have been here
on this market for a while, you would really be still inevitably able to experience these things no matter what.

The difference on here is that whenever you are already experience then you do already know on what you should gonna do. You would really be able to gain that confidence on the time
that you would really be able to gain experience along the way.

You don't have to dig in if you have no complete understanding and that is what you need to do as newbie , or else if you truly wanted to have crypto then best for you to temporarily invest and Hold while trying to learn how to trade.

In this sense you will lessen the chance of losing and also the chance of blaming everything because of your stupidity .

Newbie must not trade , instead newbie must HODL or study first , so there is no need for overcoming instead pursuing is what we need.

This question made me to remember a friend on CALL OF DUTY MOBILE as we were about entering game he asked me how do I get the confidence to take trades as in not get scared if I will loss or gain, there I said to him when your setups is right in your face and let's say u have flashcards of most previous trades that has same particular setups there you will be confident of the trade you are about to take, and to add on that trading is a 50/50 thing win or lose, so as you are about to embark on it just know that and know PEACE.

One if the ways we can get confidence while trading is for us to keep trading so that we can develop a strong attitude to trading with confidence. Also using a strategy is one of the ways we can become a more confident trader because we would have tested the strategy and see if it works well for us. Gaining confidence as a trader is a matter of consistency for us to get to a level where we can boast about the strategy we are using and how to make it perfect. We alos need to trade with the necessary tools to become confidence in the market.

That's true if you have talent and know everything then your confidence will definitely increase because you will then easily use your talent to get benefit. But if you don't know what to do then you will shy to take forward step or if you take step and that step become wrong then your confidence and courage both will reduces. In trading you should be serious about your win and loss because its not about a single defeat but due to this single loss you will loss large part of your money.

Learn well to use your skills in trading and also read carefully the price graph which can help you to indicate market and then make a useful decision. Newbies often loss at start but if they use their skills then they can quickly become a successful trader as success always comes after get experience in trading.

The point you highlighted above are very useful but I think you're missing the point the op is coming from. What listed above are safety tips for investment and the op is talking about how one was able to gain confidence to trade when they were beginner. Let me clarify something based on my understanding, trading is buying and selling of assets within a short time frame in order to make quick profit and investment is buying of assets to hold for a longer period of time and sell when you are satisfied with the profits earned. So, as far as I know, trading and investment are two different things thou they are somehow related in the sense that they are both after making profits in the end. One can make use of these key points you mentioned aboved if they are interested to invest for a long period of time. I know the importance of diversification but you also need to be careful with new projects who have not proven themselves in the market.

There would be no exemption if we so speak about that roller-coaster ride like into this market whether you are an expert or would be a noob. There's no way that we could be able to avoid.
The main difference here is on the knowledge and skills on the two on which it is that common sense on who do have the upperhand specially on dealing with this market.
Come to think that everyone starts on being a newbie so it is really that normal that they will really be making out actions which we know that it could be resulting into losses but we know
that if those losses arent present then people wont really be able to learn.

Overcoming hurdles and challenges would be entirely be depending on how you do welcome and how you do make adjustments into it. Its not simple or easy but doesnt mean
that it would be that impossible to learn up. Just dont make yourself in a hurry then you should be fine. Learning process or stage should be taken up seriously
and not on something that do speak about being too confident that they could do but on the time that they are on the field then this is where
things do start up.

That's the trouble with newbies, there is this roller coaster ride when you are trading. You start thinking you are going to be just like everyone else, then you realize you are not making profit like others and you start to think you won't, if you can push through that period and do fine, then you start to realize you are going to make money after all eventually when you get better and better.

This is the hardest ride, because not everyone can do the same thing and it does hurt you in the end, if people start thinking they will make a profit, and they end up with not getting anything then they will be quite upset about it, but that's a risk and they should try to avoid that as much as they can, this turns into thinking they won't be making and will just lose, then that's going to be quite troublesome as well and won't be all that easy. I think it's quite important to realize the best you can do will be just focusing on what you could do eventually by studying hard.