Topic: How did you overcome the hurdles and gain confidence to trade as a Newbie? - page 2. (Read 888 times)

Confidence comes only with knowledge of the matter; if you hone your skills and abilities more and more and constantly learn, confidence comes on its own. In cryptocurrency trading there is no other way, either you are an expert, well-read and experienced, or an insecure user who constantly gives your profit to others.

Trading has never been easy, only that people often believe so but they get to understand the real deal when they start trading. Experience is the master here and I can remember when I newly started trading, I believed I could easily be gaining on the very first day of my deposit due to the anxiety that all the things I needed to know were easy and I had already known them. But I was wrong, the first $1,500 I deposited went off within 2 days, this got me angry and I deposited another $750 which was lost in just a day. It went on and on like that until I gave up and started learning and trading more. In short, the journey was never easy and even the money that was meant for other purposes was wasted just because I knew I would get the code that unlocks the success in trading. Guess what, I later did... .

But it took me more than 10 years of wasted time and resources. This is why I always advise newbies to be calm and focus on learning and training, and even if they would deposit at all, let them start with ridiculously low amounts. Not that they will believe they can just hit it big in trading at first, regret has always been the end result in such a case.

If you want to gain very strong confidence when trading bitcoin or altcoins. You just need to learn all the important things related to it. Because if your knowledge about bitcoin or crypto trading is very mature, I'm sure your self-confidence will be stronger. Because just think about the factors that make someone not have strong self-confidence. Of course the most prominent factor is lack of knowledge. Therefore, in bitcoin and crypto trading, this also applies. Therefore, when you want to start trading bitcoin or crypto, the first step you have to do is learn about it first. So that you can be more confident and be able to avoid bad things, such as losses or being exposed to fraud.

Many newbies enter the crypto trading market with confidence because they got carried away by the hyped trend about it. That means, because of the height of their belief in the hype, they immediately decided to invest in a class of investment here in the crypto space.

Most of those newbies have zero knowledge of the crypto industry; that's why most of them are frustrated in the cryptocurrency business, and only a few have continued and are still learning it today.

I think beginners need to consider this relaxed pattern in trading even for those who are no longer beginners need to consider it.
I like that trading is not a sprint but a marathon. The starting position was crowded but only a few reached the finish line. To get to the finish line, the right training pattern is very crucial. If you make a mistake in your training pattern, there is a risk that someone will fall because of unbalanced breathing and that is the risk.

As in my previous post on this topic, in the first place I mentioned don't trade because trading is not easy but can be made easy if the second point is willing to be done, so that when entering the third point, someone will know what coins are worth trading.

Learning to trade gradually will give you better trading knowledge and know some details that will not be missed.
That will provide a good foundation of trading knowledge, ranging from basic knowledge to more complex trading knowledge.

Now to get trading knowledge is very easy, you can learn anywhere, but learning in a marathon way will not give you better knowledge.
There will be differences of course and this also has to do with how knowledgeable you are about trading.

Learning gradually also provides a good trading experience and can create a strategy that will be tailored to your way of trading.

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It would change overtime considering that not all people would really be that patient on waiting for long time and this is the moment or really just that a normal approach that they would really be finding or looking with those low cap altcoins rather than on sticking into those top ranking ones which movement isnt really that too much and this is something that newbies doesnt like because getting rich is really just that slow. LOL!
Confidence could really be built overtime and this is something that  you could really be able to gain via real experience and this is something that cant really be up in a hurry.
There really just those people who are really that a in hurry when dealing up with things.

Newbie do usually ends up on a disaster if they would really be tending to rush up on things on what they should or must do. Trading isnt a sprint but rather its a marathon on which if you do make yourself
in a hurry then you would really be might be having tons of mistakes or errors since you would really be that mind boggled that you should really be faster on doing things
whereas compared to those who are gradually learning at the same time gradually making that progress and making money. Although its not an assurance
but at least you do already know on what you've been doing.

Without a doubt the haste employed by newbies when trading the markets plays against them, they seem to believe that either the opportunities to trade will dry up, a ridiculous notion as there is always several assets giving huge profits at any given time, or they want to become rich as quickly as possible, since they think trading the markets is very easy, a notion that makes no sense either, as even if that was true then the more people will come to the market and increase the level of competition until trading was not easy anymore.

Everything is a matter of time and we don't need to take things too fast whether we are newbies or an experienced traders in the market.
We need to trade gradually according to the amount we can afford. We should also note that trading is very risky and any project or trades we are putting our funds must be what we are able to afford not getting loan or lending money from people around us to aid us trade very well. We'll need to trar with confidence so we can be agile and fit in and make confident decisions.

The information won't be overwhelming if proper and wise research is done. Seeing or reading something somewhere on the internet and believing it is not the right approach because the internet is full of falsified information and many sources are not to be trusted. So, a newbie should always double or triple check a piece of information that they read or see just so that they can keep their knowledge and information purely correct and not learn wrong things.

There is one more thing that new investors do which they shouldn't, they are always in a hurry, as soon as they enter the industry, they start looking for ways to start trading and earn money, they look for tutorials and signal groups to start trading, and that isn't the right thing to do. One should take things easy, start learning from the scratch if they have no knowledge and go slowly, there will be enough time for them to earn money but knowledge and experience is important for that.

Are these emotions a little bit common just like when you are doing something on your first time? If you are really that basing on this then you wont really be finding yourself that progressive.
Why? You would normally be having doubts on dealing up with something just because you do know that you arent knowledgeable or does have the skills, if you do have those kind of initial
thoughts and impressions and you do basically seeing this as a red flag directly and quit up or avoid it then i dont see for it to be something to be that recommended on doing so most of the time.

It is really just that normal that you would really be having kind of doubts and you should really be that giving yourself some chance to prove out that you could really be able to learn up
things basing up on what you are seeing and shouldnt really be avoiding just because you do have those kind of initial doubts on which i should say that it is really just that normal
and this isnt a solid indication that you should be quitting or trying out to avoid or reject on learning it. You wont really be finding yourself on learning and gaining
that confidence if you do have that kind of criteria.

If you are already doubting your confidence level before you have even begun trading, this is a red flag that trading is not for you. Most traders are perceived as gamblers, and gamblers are always emotional, which is not a good indicator of a strong trader. If you can overcome your emotions and are willing to risk your money, your trading confidence will grow and you will become better at it over time. No one will encourage you as a beginner to start trading so quickly if you do not understand the principles of trading. Newcomers should avoid trading because it will just make them lose faith in cryptocurrencies.

Effort or an effort carried out seriously will produce results that are in line with expectations. When someone starts learning and improving their skills, they have moved to the next level. I always emphasize to every beginner that if you want to be successful in anything, that is to always learn the necessary basics and do it slowly until you understand then follow what the whales do, follow their way of thinking, not against it.

Experience would be always the best teacher on which i do agree that when it comes to learning then experience would be the key, just like been said above that the more you do deal the more learning you could get.
You arent really just that enhancing your skills but also you are really that enhancing your emotional aspects as well and decision making on which in overall it would really be that something that you could really be able to
learnt up along the way.It would really be just that matter on how serious a certain individual on enhancing up his skills or broaden up his/her knowledge. It all matters on the effort
that you are really that doing or else then you wont really be having those advancement.

You would really be looking yourself that be stagnant if you dont really be minding about on having those kind of steps towards the career that you are really that involving into. We do all start on being a newbie
on which it is really just that normal that you would really be that having that kind of approach on which you would be thriving on learning up things along the way.
Be versatile and able to adapt immediately on whatever things that you do able to encounter.

A newbie always looks for ways to do successful trade but they need to understand that you need to learn how to manage your risk first. Your gains from 10 trades can be lost with one single bad trade. To overcome these hurdles you need to first build a money management strategy that you can use for trading. Your strategy won't be perfect at first but it will be developed over time You need to have at least a money management strategy that will give you confidence that your losses can climb up to a certain percent. Your balance will not go down to zero if you follow your money management strategy.

Practice makes you perfect and not every trade is going to be a win. Winning and losing are both part of trading. The more you trade, the better understanding of trading you get. Overtime you become good at it and you gain confidence in that process. As a newbie, I would suggest making a budget with which you are going to learn how to trade. Do not go for demo accounts as they do not hold the same sentiments as real money.

Set up a budget and then use the minimum amount that is allowed on any platform for trading. That minimum amount is for learning and you should never trade for profit in this process. Think of it like buying a subscription for something. In this case, it is trading. You are buying a subscription to learn how to trade. The amount should already be considered gone that way emotions won't come in between. This way you learn to lose, get control over your emotion and most importantly you learn how to trade. If followed exactly as described, you can easily overcome the hurdles and gain confidence as a newbie. Just don't overthink it.

Continuing to be involved in trading will indeed provide a good experience, but now we have to be smarter in doing new things.
Watch and observe how other people gain experience in their trading.
We can see and copy what they do and avoid the mistakes they make.
There are no guarantees, but it needs to be done. Rather than just acting stupidly going into investments without any knowledge, it will just be a bad experience that doesn't provide any new lessons.

I think newbie traders shouldn't started trade with big amount of dollars, start with small amount if loss what you can afford also you can gain experience in trading.
A lot of ways to learn trade by practicing in demo trade and watch videos on youtube to gather your knowledge. Success will not come in a day in crypto trading.

I think this isn't only for newbies as learning never stops, but to gain confidence in trading I went out to gain the knowledge to understand how the markets work generally... of course not limited to cryptocurrencies and not forgetting learning how to read chart's and this process didn't end here as I needed to watch videos of how other traders trade which was possible through 100s of hours of YouTube and once you are ready you go for Demo trading to test your strategy and with several winners and confidence is built you ready for the real markets, happy trading

Those who have been successful in trading, of course at first they were also beginners and they studied with discipline so that they understand well what they have learned after trying what they will of course have a lot of experience in investing so that they achieve the success they want, there are many processes that they have go through so they can have confidence in what they have learned.