Topic: How did you overcome the hurdles and gain confidence to trade as a Newbie? - page 4. (Read 888 times)

Those are common scenarios and it cant really be denied on which majority of us did really come into that point and since we are really that still lucking some skills and knowledge then it would really be that likely an approach that we are really that able to do so which i could say that it would be typical or normal. Some might be able to avoid on reading up someones experience but eventually they do really still end up on getting on the same mistakes. Experience would be your best teacher, those things that you do have in mind on the time that you are still newbie will eventually be cleared up and make you realized on whats possible and the impossible ones. You could really be able to differentiate those two and this is something that you should really be that trying out to absorbed along the way.

Confidence would really be slowly be building up on the time that you would really be gaining experience and the main key for this one is on that continous dealing or engagement with trading within the market.
You would really be able to find yourself that slowly be progressing in terms of skills and experience on which it would be something helpful on your part as you do go ahead.
You should really be that sensible and versatile on whatever the hurdles and challenges that you do face on.

After learning about the cryptos volatility, I could tap courage from fellow experienced investors who is been on the high tables making it success in the industry.
I was inspired by my referer that at at when the market is not favouring investors targeting to make profits is a time frame opportunities for incoming investors to come in and also for investors who are willing to top up to do so before there comes increase or a bull run in the market. Then I was encouraged that there is time to favour every sets of any of the cryptos investors. Then I had to exercise be patient and put my confidence cordially by my expectations.

Doing trading but looking like gambling is something that many beginners do, especially those who don't really know how to trade correctly and profitably. Trading is not just buying and selling well, but how to determine the buying price and selling price with good calculations. Beginners only look at price indicators, they will buy directly when the price appears to be falling, even though the decline is not yet optimal, this will make them panic and end up throwing away at a loss.
Don't make any investments if you don't understand the basics, it will only be a bad experience.

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.

You think it's a hurdle but it's not. Because in the world of any type of trading the most important step is to explore knowledge. Here the beginner's mistake is to rush to cut knowledge with execution and assume the decision is correct. Always want to pursue what has been achieved by old traders but do not pay attention to the process to become a professional requires a foundation in this case the foundation is learning. Beginners overestimate the ambition of crypto trading and think it's the easiest way to get rich. Actually no! every process has stages that need to be taken. Trading requires broad thinking, learning how the crypto market works is very complicated if you are not based on knowledge.

The things that give you confidence are to have a high level of trading knowledge, strategies, and faith. But is this possible for newbies who have no experience? The answer is NO because experience is a way to make you more knowledgeable and that makes you familiar with the market. That is why we can't say that trading one day make you better by tomorrow but the truth is that it takes several months to build such confidence and we already suffer many losses before it comes.

Everyone has a different journey, and I can't define their steps as right or wrong as long as they are newcomers. When I first started trading cryptocurrency, I relied on technical analysis and also medium volume altcoins. Here... i learned from many losses I experienced that the market truly cannot be predicted with technical analysis alone. I know I made a lot of losses at that time, but is that defined as a mistake? Couldn't it be used as fuel to add to learning and experience?

In trading, losing and winning are normal, losses and profits also happen commonly, as long as you are adept at managing risk, I think it's not a big issue. Some new lessons like money management, turning off emotions during FUD, not rushing to respond to news, and others are the results I got from some mistakes along the way.

But now, I focus on Bitcoin only and concentrate on the number 1 coin in the world of cryptocurrency. Accumulating it every month or maybe 2 weeks and practicing DCA, it's similar to saving but in the form of BTC.

just jump in and try it. we will forever be beginners if we don't dare to start. I started it when my parents gave me $10 to try trading so I had the courage, he supported me fully with my trading, even though after that he didn't scold me and continued to encourage me here. I will not stop to continue to develop here.

I gained more confidence in trading when I see a trading strategy learnt from experienced crypto traders unfolded exactly the way it was illustrated on back tested charts thus reaffirmed the opinion of many traders that price movement or history repeat itself, however the time and period to learn this setups and strategy differentiate a good trader and bad trader though it would take a lot of charting time analysis to get accustomed to those trading models, it's obvious experience Bitcoin traders are earning profits consistently on daily basis whenever any trading setup open up whether Short or Long trade by capitalizing on the volatility of prices especially in a trending marke.

It's scary that people don't want to learn about Bitcoin. But if they are willing to learn about Bitcoin and how they can use Bitcoin properly and correctly, they will discover the benefits of Bitcoin for them. Indeed, the nature of the crypto market is always volatile. Prices rise and fall always occur every day. If they can learn it, they won't panic even if they want to trade.

It's all about gaining knowledge about Bitcoin so they can use Bitcoin well. Only learning more about Bitcoin can calm them down. Don't immediately believe the news they read and are always looking for more information that can support their research.

If you want to trade, you have to study the analysis so you can know when to enter and exit the market. If you want to invest in Bitcoin, you must also learn the method that suits you. And remember to practice what you have learned so you know what you still need to learn.

Informations available anywhere can always be very overwhelming since being a newbie you don't have the idea what fundamental news to follow and what analysis you need to study before do your purchase or trade in crypto. That's the major thing that needs to overcome.
Being able to build confidence means, you are able to decide for yourself firmly without being shaken and suddenly switch decisions if the prices did not go the way you want it to be.
Being confident also means you know what you're doing and has contingency plans when things go south to avoid huge loses.

It's good like that, because as a beginner, a beginner must really prepare a strong businessman's mentality.
But if a beginner makes a mistake, that's good too. because realized mistakes will bring good luck in the future.

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.

For those who are new to Bitcoin I would say to gain a lot of knowledge about Bitcoin trading. If you don't have any knowledge about trading in Bitcoin then you will not succeed in trading well. You have to have a lot of patience when you trade Bitcoin.You have to trade for long term by checking the market. Don't be in too much of a hurry after trading Bitcoin, you will lose if you rush. By trading this way you will become a successful trader one day in future.

Building your confidence while trading as a newbie is impossible. You will only achieved that if you have gained higher experiences in the market that will build your confidence to trade. However, I'm not saying this in general as there are really newcomers who have high confidence to trade, but it turns out that their confidence is not enough to overcome the risk and avoid the risk of losing from a volatile market. I must say that those confidence are even putting them at a more losing end.

This is the reason why I don't see real confidence with beginner traders. They are still in the process of exploring in the market so how come they were able to build confidence without even having sufficient exposure and experience in the trading market.

These types of confidence have emerged because you are seeing trading the wrong way, that you end up trading like gambling. These are very common in the market, and they all end up losing and regretting. But the moment they learned from their mistakes, there will be a change of mindset as a trader. That's when they start trading through creating good market analysis, and trading within their limits. Little by little, confidence is built through their consistent exposure in the trading market.

Trading is hard as it comes with market struggles most of the time. But if you are an experienced trader, you know already how to overcome those hurdles and chose to trade following the effective rules in trading.

 It's hard to build confidence when you are trading as a newbie. Because in reality, newbies have nothing but greed and that motivates them to trade quickly even if they know they are more prone to losses than creating gains. But through experience that enables you to overcome your losses in the long run, you start to gain trading confidence and start to manage your losses and your mistakes in trading.

However, confidence is not built with days and months but it takes even years for you to be able to see yourself as a reliable trader. But it does not mean that you are free from committing losses already, of course even pro traders have their own time of losing.

Being a newbie in trading is not easy, we will definitely feel confused about what we should do first and what we actually need to optimize profits. However, related to self-confidence, we may become insecure and insecure about trading if we are not ready for various things for trading. Here, if we can prepare our knowledge about trading well and learn various things related to trading sufficiently, then it can increase our self-confidence quite well. So this can help your readiness even more, not only financially but also mentally.

Anyway, ranking is not going to be easy for newbies, but that doesn't mean it's impossible. because everyone definitely comes from newbies. It just remains how we deal with it later so that we can be better prepared to enter the world of trading by getting more gains than losses. Because there is knowledge that must be prepared and possessed for all of this.

If we are ready for these various things, we can start trading with a small amount first, at least as a way of practicing. Actually, there are several exchanges that provide demo accounts to learn trading on the application. You can try it for a while. Then, you can see various ways to analyze what coins and what positions you should take. This will not be easy for newbies, and for all of us. But everything requires experience first. Next, of course, we can learn much better from our experiences.

With trading skill as there is no other way, very often I hear that people should ‘fake it till they make it’ and while there are some circumstances in which this could be useful, if you do this while trading then you are going to suffer severe consequences by doing so, then the only way for a newbie to increase their confidence is to actually become a proficient trader, that way when they face a difficult situation they will know they have what it takes to handle it, and as they keep doing this and they do a good work then confidence will come on its own.

In Trading there would always be hurdles and no one can say they are on auto pilot mode unless they have automated their trade with lesser risk margin. I had been full time trader in the past and now I do it occasionally at my free time and I would say learning more about the crypto market and backtesting data with different indicators have helped me gain confidence into trading but still I would say i n my an expert and have losing days. But as we indulge in trading we get an hang of it and gain confidence as experience is everything if you have learnt about trading and candle reading.