How did you overcome the hurdles and gain confidence to trade as a Newbie? - page 3.

G_Besar

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Quote from: Rehan Zakir on November 18, 2023, 12:43:15 PM

I think, everyone faces hurdles as a Newbie when they start a career in the trading field. But confidence problem is solved by doing it multiple times. Means "Practice makes a man perfect". So, when you take a trade and if it gives you profit, this thing gives you confidence.
A Newbie person faces lot of hurdles in the start, Just keep trying and don't loose hope.

Not easily giving up is a very wise attitude for a newbie because basically everyone needs to try trading once they know how to do it through the theory they have learned. Becoming an experienced and perfect human being is not easy for anyone, because everyone needs to struggle with experiments while looking for new knowledge that can make their plans better. Because the first obstacle for everyone in trading is knowledge and guidance from people who already have experience in that field.

2Pizza410000BTC

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Quote from: Realgogo on November 15, 2023, 05:25:58 AM

Entering the world of Bitcoin trading can be both exciting and daunting, especially for newcomers. The volatile nature of cryptocurrency markets and the plethora of information available can sometimes overwhelm new traders.

Todays question i would share how we overcame these hurdles and gain confidence to trade as a Newbie?.

Yes, entering the trading world is both exciting and terrifying. As far as I know no one can ever be 100% successful in trading. Especially those who have entered into futures trading have made many losses in life. I have entered trading as a newbie so far I have not got a very good idea about trading. I started the first trade with $100 and still have losses. I wasn't trading in Bitcoin I was trading in Altcoin due to which now I couldn't cover my losses. I hope to overcome my losses and see success at some point and gradually become trading experience.

aylabadia05

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Quote from: Realgogo on November 15, 2023, 05:25:58 AM

Entering the world of Bitcoin trading can be both exciting and daunting, especially for newcomers. The volatile nature of cryptocurrency markets and the plethora of information available can sometimes overwhelm new traders.

Todays question i would share how we overcame these hurdles and gain confidence to trade as a Newbie?.

1. Don't trade
2. Read more and watch trading videos or listen to podcasts with the aim of learning.
3. Choose coins that will last a long time. Don't choose coins that end up in discards.

Theoretically, trading carries a large risk of losing money. Trading requires extra time to control trading activities such as rising and falling prices. We don't forbid it.
So, what do beginners who want to trade do? Three points above are basic for beginners before getting to many other points regarding trading.

bitterguy28

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Quote from: Realgogo on November 15, 2023, 05:25:58 AM

Entering the world of Bitcoin trading can be both exciting and daunting, especially for newcomers. The volatile nature of cryptocurrency markets and the plethora of information available can sometimes overwhelm new traders.

Todays question i would share how we overcame these hurdles and gain confidence to trade as a Newbie?.

I must admit mate that it took me couple of years first before made a decision to try Trading , because what i have read from many posts here in forum that this is really risky and needs deep knowledge and understanding.
so yeah what made me overcome the Hurdles to Gain confidence ? I look at my Mentors success, that made me understand that I need to take those risks before Hitting my dream profit.
but this did not end well because even how Hard i tried , trading is not for me and yes I kept losing for how many times.
so I decided to stop day trading and do Holding instead for easier way of dealing in bitcoin , because all i have to do is just wait.

macson

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Quote from: Realgogo on November 15, 2023, 05:25:58 AM

Entering the world of Bitcoin trading can be both exciting and daunting, especially for newcomers. The volatile nature of cryptocurrency markets and the plethora of information available can sometimes overwhelm new traders.

Todays question i would share how we overcame these hurdles and gain confidence to trade as a Newbie?.

actually trading is not that complicated, as long as you are disciplined with the trading activities you do then there is little chance of you making a loss, besides that there are many communities that will help you develop your skills in trading, don't close yourself off to trading communities that can help you build your skills in trading well. like when you were in school, you wouldn't possibly know how to write letters and numbers if you didn't have a teacher to teach you, so apply this in trading too, as a beginner you really need a mentor, don't underestimate the big benefits you will get if you use a mentor.

Mauser

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Quote from: Realgogo on November 15, 2023, 05:25:58 AM

Entering the world of Bitcoin trading can be both exciting and daunting, especially for newcomers. The volatile nature of cryptocurrency markets and the plethora of information available can sometimes overwhelm new traders.

Todays question i would share how we overcame these hurdles and gain confidence to trade as a Newbie?.

I don't think there a special trick that let's you gain confidence overnight and become a good trader. In my opinion the only real way to progress from a newbie is to go and start trading yourself. Reading books about trading and learning all the technical aspects is important and is going to make a difference longterm. But it's not going to take away the need for real work trading experience. Confidence is important as well, if our trading strategy has proven itself. Having confidence without any experience is dangerous, just because we believe something is going to work doesn't mean this is actually the case. Trading doesn't depend on size, you can start small and see how well your strategies are doing. And even if you have no savings at all you could start running a demo account with real world prices. Once you see that your trades are geverating profits the confidence will come on its own.

Japinat

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Trading is really hard but with the help of research and market exposure on the trading scenario, my passion to trade has more developed. With the help of demo trading, I was able to establish a concept of my own with regards to trading and how to trade successfully in such a high volatile market. Although beginning to trade is always the hardest, but because I was able to gain confidence through research and honing some skills, then I was able to overcome the hurdles in trading wherein other traders would only prefer to leave the market and quit, and just stick to bitcoin long term hodling.

However, even if you have the confidence to trade, that is not enough guarantee that you will be free from errors and losses. In fact, the more you gained losses in the market, the bigger the chance your confidence becomes more firm and established.

JunaidAzizi

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Quote from: Realgogo on November 15, 2023, 05:25:58 AM

Todays question i would share how we overcame these hurdles and gain confidence to trade as a Newbie?.

Well my opinion and suggestion to the newbies or new traders is very simple do not follow other decisions instead do yourself if you lose or gain both will give you the experience if you gain profits then it means you are doing well and the strategy you followed is suitable for you and If you loss then do not revise it. What do new trader do when they gain some profits from a coin the second they invest all their funds happily and think that they will get again a profits but due to volatility they will gain a loss and will disappointed? They fall into the trap of emotions and trading there is no place for emotions you should leave your emotions out of the door when entertaining the room. These emotions will again and again experience loss..

Kelward

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Quote from: Realgogo on November 15, 2023, 05:25:58 AM

Entering the world of Bitcoin trading can be both exciting and daunting, especially for newcomers. The volatile nature of cryptocurrency markets and the plethora of information available can sometimes overwhelm new traders.

Todays question i would share how we overcame these hurdles and gain confidence to trade as a Newbie?.

I do think that newbies should just concentrate on learning and increasing their knowledge about bitcoin and altcoins, before thinking about trading. I even think that they should start with investments first, take it one step at a time before finally venturing into bitcoin trading.

Bitcoin trading is not like gambling, where you don't need any special skills or knowledge to engage in, you actually need to study how supply and demand works in cryptocurrency market, know how to speculate, understand how chart works, them finally to face the risk of losing all your coins, it's a lot to take in.

I'm not a newbie and I'm not trading bitcoin yet, I'm still warming up to it, hopefully anytime soon, I've gained some knowledge to give me a head start. But if a newbie, wants to jump right into trading, why not, so far he has considered the risks involved.

Rehan Zakir

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I think, everyone faces hurdles as a Newbie when they start a career in the trading field. But confidence problem is solved by doing it multiple times. Means "Practice makes a man perfect". So, when you take a trade and if it gives you profit, this thing gives you confidence.
A Newbie person faces lot of hurdles in the start, Just keep trying and don't loose hope.

MFahad

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At first everyone is nervous because no one knows before getting experience that what will be the condition and how we will achieve our aims. But once a person make a good trade then his interest build which will help him in moving ahead. In trading profit and loss both are related with each other so don't hope that you will always win because this hope can be dangerous for you if at some stage you don't get profit.

More excitement is also risky because in excitement newbies do some mistakes for which they are regretting whole life. Getting experience is not a matter of seconds but you will work for it at least two year in which you will see the market condition and people's act according to the market so then you will learn. Always remember that there is no technology which gives you 100 percent profit and in one day therefore don't hope from crypto that it will give you profit all the time so be prepared for any changes in the market.

Bloodseekers

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Quote from: Sanitough on November 18, 2023, 10:07:03 AM

Of course, knowledge alone is not enough, trading skills and working strategies are crucial as well. But as a newbie, its hard to gain confidence when you are not yet totally exposed to how the real trading works. Most often, you will encounter losses than gains, and that's normal. But with constant trading experience and consistently learning from all your trades losses, then its possible to build your own confidence in trading in the long run.

However, learning trading takes time and you have to be patient to make it work. Otherwise, if you rush into trading having less knowledge and being inexperienced, definitely you will end up trading like gambling, and lose all your money.

Everyone who is just trying something new of course they still don't have confidence in what they are doing and if they have good knowledge about trading and also have a lot of experience in the field of trading of course they will easily be able to trade and will also can make a profit in the trading they do.
You are right, in learning trading we must be able to consistently do what we have learned and also try what we have learned so that we can get results from the trading.

Sanitough

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Quote from: lienfaye on November 16, 2023, 07:33:01 PM

Knowledge is the key. That's the start to build confidence because you'll gain idea of the things that you should do as a trader. However, it doesn't guarantee to be a successful trader since it's not easy as it seems. That's why many traders switch to become a hodler to lessen the risk and stress of losing their money.

Thus, it's crucial to take time learning and don't rush to try the actual trade. There are platforms where you can create a demo account to practice trading. That would be helpful for newbies.

Of course, knowledge alone is not enough, trading skills and working strategies are crucial as well. But as a newbie, its hard to gain confidence when you are not yet totally exposed to how the real trading works. Most often, you will encounter losses than gains, and that's normal. But with constant trading experience and consistently learning from all your trades losses, then its possible to build your own confidence in trading in the long run.

However, learning trading takes time and you have to be patient to make it work. Otherwise, if you rush into trading having less knowledge and being inexperienced, definitely you will end up trading like gambling, and lose all your money.

Best-mary

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Quote from: Realgogo on November 15, 2023, 05:25:58 AM

Entering the world of Bitcoin trading can be both exciting and daunting, especially for newcomers. The volatile nature of cryptocurrency markets and the plethora of information available can sometimes overwhelm new traders.

Todays question i would share how we overcame these hurdles and gain confidence to trade as a Newbie?.

I have talked about using Dual Investment because it works like DCA but in an upgraded version. But using it mostly in times of volatility is usually the best. Or sometimes I just buy a good coin leave it for a long period then sell when it has appreciated to my greed level

justdimin

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Quote from: benalexis12 on November 17, 2023, 09:31:09 AM

Quote from: Realgogo on November 15, 2023, 05:25:58 AM

Entering the world of Bitcoin trading can be both exciting and daunting, especially for newcomers. The volatile nature of cryptocurrency markets and the plethora of information available can sometimes overwhelm new traders.

Todays question i would share how we overcame these hurdles and gain confidence to trade as a Newbie?.

You know confidence is only good if you know something that you are studying or if you know that you are now learning to apply it to the reality of actual trading in cryptocurrency.

Haven't you noticed that among newbies who enter this field of crypto space? Isn't it because of the confidence that they feel that they will make a quick profit here in cryptocurrency that they gambled to invest in it even though they don't have enough knowledge of crypto trading yet? right? Meaning, because of that confidence, it can also put at risk the capital of our investors, who know nothing about crypto.

I am not sure if that is true even in that case, you should be careful about it even if you think you know. There is a saying that worlds greatest swordsman is not afraid of worlds greatest second swordsman, he knows that he is better than him and he knows he can beat him, but worlds greatest swordsman is afraid of the guy who has never picked up a sword before, he is dangerous he doesn't know what to do and he doesn't do what he should do at times he should do it, that makes him dangerous, because it's a risk, you can be better than him, but he could get lucky with a wrong move.

Trading is similar, someone who is super smart about it, may do what he must, but someone who has no idea, may end up getting lucky by making a wrong move, but getting lucky and profiting.

JunkieMiner

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Quote from: Realgogo on November 15, 2023, 05:25:58 AM

Entering the world of Bitcoin trading can be both exciting and daunting, especially for newcomers. The volatile nature of cryptocurrency markets and the plethora of information available can sometimes overwhelm new traders.

Todays question i would share how we overcame these hurdles and gain confidence to trade as a Newbie?.

Hopium in trading is really important. If I gave you an example that I had friends which do the trading and they just use trading as a game and after much losses they still have hope that they will earn from the trading. Even though they are doing the trades like gambling which indeed I didn't like in them. But still they are confident on their losses and in a decision where they would select the better time and wait for the right time. Hope to see many people successful in the field of trade which wants a real hope mechanism in each trader and an individual.

alani123

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Trading really is something that you have to get used to and not get carried away.
For one, you have to know what amount you can take risks with. And especially given that most people will trade with leverage you must know that such activities can result in total loss of your principal amounts too.

Really it can be very tough to deal with losses, but one must stay principled if you're going to win anything.

Only go in positions gradually and close or improve your position accordingly. If it goes well immediately you'll have small but certain profits, if it goes bad, which happens often, you will be able to afford the loss. This is the most basic principle that most traders totally forget about.

Rockstarguy

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Quote from: Realgogo on November 15, 2023, 05:25:58 AM

Entering the world of Bitcoin trading can be both exciting and daunting, especially for newcomers. The volatile nature of cryptocurrency markets and the plethora of information available can sometimes overwhelm new traders.

Todays question i would share how we overcame these hurdles and gain confidence to trade as a Newbie?.

The only thing that can boost the confidence of beginners in cryptocurrency trading is learning and understanding things in the proper way. Cryptocurrency trading is always complicated and can ruin beginners when they do not want to take their time to learn cryptocurrency trading appropriate instead they just prefer to get money from cryptocurrency trading so quickly.

Learning to understand is what can boost the convince of beginners because at this point they are sure of what they are doing and not trading cryptocurrency with a blank mind. Learning is the only way to get it right to gain success in trading, their is no shortcut for people to have success in trading when Learning is neglected.

Yamifoud

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Quote from: Viscore on November 17, 2023, 03:58:23 PM

Learning from all my initial mistakes and losses is a big factor. If you trade as a newbie, you are more susceptible to commit errors and end up trading as a loser, but the important thing is you also gained good lessons afterwards which will help you improve and build confidence every time you decide to trade. And by practicing caution in trading, that will encourage me to limit my errors and losses every time I trade.

More practice, more losses, the more we got ideas that would help us become better. Of course, we can't just do it instantly and that is why we call ourselves newbies as we don't have enough market exposure that say we are pros already. Trading is not an easy job, we can't underestimate the market and so, to become confident enough we also have to spend more time searching and doing actual trading experience as this is the way to justify how good we are. As for newbies, we never expect such confidence to come right away --it takes time.

Viscore

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Learning from all my initial mistakes and losses is a big factor. If you trade as a newbie, you are more susceptible to commit errors and end up trading as a loser, but the important thing is you also gained good lessons afterwards which will help you improve and build confidence every time you decide to trade. And by practicing caution in trading, that will encourage me to limit my errors and losses every time I trade.

There's always inevitable hurdles that are obviously present in the trading market. But as you go on trading and become more exposed to the trading market and its highly volatile and unpredictable market, you will learn to overcome those hurdles and instead build your confidence in the process.

Topic: How did you overcome the hurdles and gain confidence to trade as a Newbie? - page 3. (Read 888 times)