How did you overcome the hurdles and gain confidence to trade as a Newbie? - page 6.

Lakai01

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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?.

My golden rule is actually quite simple: paper trades.
If you want to start trading, place your trades either via a demo app or, even better, with a piece of paper and pencil. This will give you a very good feel for how well you can rely on your own instincts and how you react in "tricky" situations.

After you have practiced this for 1-2 months, you can start betting real money (or BTC). However, only very small amounts at the beginning, preferably in the single-digit dollar range. Only after some time (and many lost dollars) will you have gained enough experience to actually enter into larger trades.

So there is actually a second rule to add to my golden rule: take your time practicing!

Bananington

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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?.

If you try trading with very small money that you can risk and you profit from the trade, your confidence will greatly be increased and improved to want to try with more money as a newbie. That is how some newbies surpassed that hurdle, they tried trading with little money then tried with more money if they are successful.

The little wins add up to great confidence.

famososMuertos

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I don't know how so much fear can be reflected in something that requires a popular phrase and that I mention without commercial allusion "just do it."

The big difference about bitcoin trading is that it is open to everyone and you can best start with capital as small as $10, that in itself is one of those great advantages of the crypto world of investments with the traditional one, imagine being told you need (e.g.) $100,000 (minimum purchase), they are not games eh!.

Just start, and read all the available theory you can, and then, between the practice and what you have read, read again and much more to learn about trading. The shark instinct will appear, if it does not appear you will surely realize it, since 24/7 trading is not for everyone, but trying it is.

ZAINmalik75

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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 way is to get knowledge, and after getting knowledge, act on it by trading with fake money. Like using demo accounts, paper trading,, etc. Once you think you are doing great and have learned to trade, you can easily overcome the hurdles and gain confidence to trade, whether you are a a newbie or not.

There is no shortcut to making money via trading; even people tell you the only trick is to learn this indicator, or learn that indicator, or join this VIP group,, etc. Until you don't get information and knowledge of how things work and the basics of trading, you can't overcome the hurdles and learn anything at all, rather than lose money.

I saw your other question as well, but did not reply there. The format is the same, and I don't doubt the question you ask, but after seeing your neutral, I came to think, did you even cared about the questions or are you just trying to increase your post activity, etc.?

el kaka22

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Honestly I just realized that I can't lose forever and if I keep learning then I will eventually get better, it is only logical. Of course it was normal that I did not started as a great trader, who starts very good at trading on their very first trade and then stay great forever?

Even if you get lucky and have a few good trades at first, you will end up being greater later on and have a terrible part in the middle. So I realized, yes I am making a loss and doing bad and there are a lot of issues, but if I keep at it and keep trading and keep learning, then I am going to be a lot better with time. Which is what happened really, I ended up getting better and ended up making more and more profit with time as well.

SmartGold01

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Don't enter to trade when you don't make full research about the both coin you are trading with otherwise it might dump on you, one thing newbies trader always do is that they want to get involved in every single coin they newly listed in exchange were they are trading. So do not be too excited when you see such coin it may lead to drastic dump on you while you lose huge funds, always create out time to study the market before entering trade otherwise you would lose as well.

Rruchi man

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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 answer to this question will be distinct to every trader depending on how they learnt to trade. Did the trader learn on his own from watching YouTube videos and monitoring the trade of other traders? or did they directly learn under a tutor or mentor? A trader who learns on their own may take more time to find the confidence to start trading the live market, but if it is a patient trader, they will start trading after they have been successful with their demo accounts.

For a trader who learns from a tutor or mentor, they will find confidence to start trading the live market when their tutor or mentor gives them a sort of reassurance that they can.

salad daging

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You should have a basic technical insight into trading at least knowing what is needed in this skill then this you have mastered you will find confidence in trading even though a beginner still has to learn and overcome this obstacle should not give up.

Remember that trading is quite a big risk compared to long-term investing which is quite restraining, in trading you need a lot of skills including technical analysis, reading charts, fundamentals, market sentiment, patterns that must be combined, being able to see the news and draw conclusions because this will obviously affect the price when you trade whether it is spot or futures.

Try trading with small capital that you can afford to lose, that's where you'll find the real obstacle course.

Sim_card

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As a beginner, it is better that you should learn how to control your emotions first, because if you allow your emotions to control you, it means you will run at loss. Be confidence with your decisions and don't look for trading signals from any group but rather learn trading and practice it, with the amount that you can afford to lose. It is not easy as a beginner to make profit from trading or learn everything in just one day. It is a gradual process that needs determination and steady learning to know the strategy that will work for you.

GreatArkansas

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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?.

For me, following and practicing the basic and must-have ways or doings of trade is a must. It's like you do what major people are doing. The most difficult part is only the beginning, so it will become easy for you once you already have knowledge.
And another thing is don't wait for someone to push you or teach you or feed you, you can try it with yourself.

rat03gopoh

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You trade with a reasonable amount limit (afford to lose) makes you confident;
You open a position based on reasonable analysis and choose a high volume coin pair makes you confident;
Your first profit will increase your self-confidence and so on.

taufik123

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High self-confidence must be matched with good basic knowledge.
As a beginner must not forget this, basic trading skills are needed.
How can a beginner be confident without trading knowledge, it will only be trading like gambling that only relies on luck and feelings.

When I entered Bitcoin, I was still very blind about trading, so I started learning the basics, about terms in trading,
and learning how to use tools and indicators that are already available.

In addition, it is not only about technical and fundamental analysis, but trading emotions must be managed to stay in good condition,
so that trading will go according to plan.
If as a beginner can not manage these emotions, then there will be many losses that can occur.
It is not easy, but learning how to control trading emotions will provide many advantages.

Husires

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Repetition, experimentation, failure and error are the best things to learn, and by using them you can develop until you have a sixth sense through which you can judge new projects for which no data is available. Start learning trading from books and YouTube channels, learn the basics and create a demo account, trade with zero risks and gain Try it and then you will be confident in your trading decisions.

mk4

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The same way you gain confidence in other things like public speaking and any other skill with a crowd — by just doing it lmao. There's no secret juice.

Also, before taking a trade, make sure you're actually convinced that you're right. Because if the price moved at the opposite direction and you immediately capitulated, then you're likely just guessing.

kingvirtus09

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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?.

You know, I have seen many newbies who entered the crypto industry full of confidence, and because of that confidence, do you know that many of these newbies just lost their cryptocurrency investments because of the lack of knowledge here?

It means that confidence is not enough; the others did it with confidence, and they looked at it like a gamble that even if they have no idea, they can earn luck just by trading, something that is not good and a wrong view.

jeraldskie11

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Quote from: _act_ on November 15, 2023, 05:44:18 AM

It is better not to have confidence and not trade if not following the trading rules.

If you're a newbie, confidence is the result of backtesting your strategy.
If you're an intermediate trader, consistency will give you more confidence.
If someone says that he is confident but didn't backtest and encounter many loses, he probably lying to himself.

Your level of confidence will decrease as you lose more money trading.

decodx

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When you're just starting out in crypto trade, getting past those early challenges is all part of the journey. For me, lots of coffee-fueled late nights googling stuff, some funny videos to chill me out when needed and just accepting that Bitcoin has its grumpy days like anyone else - that's what got me through. My advice is to take small steps, keep learning from every up and down, and don't freak if the market throws a tantrum now and then.

bitzizzix

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Don't be too confident in trading because trading is not an easy job to get good profits, especially if you are a beginner.
And all you have to do initially is just educate yourself how to make profitable trades and in general how to buy low and sell high at the right time, and you also have to learn the factors involved in trading. And don't just look for information, because information can still be manipulated.
Because it's harder than it sounds if you've never done it before.
Unless you intend to invest, that means you are not trading. But that's a very different question but investing is better than trading, in terms of trading time, you should have a lot of free time to do it compared to investing.

hugeblack

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I think you mean how to trust news sources? If that is the case, then there is no trust in any source, and even fake news can affect the price just as happened in the fake article related to accepting the ETF, so look for future news, not current news, meaning look for news that can affect the price in the future, and based on it, buy or sell. It is the only way to guarantee that you will get profits from trading, but following the current news will lead you to a loss at the peak of trading if it is true.

if you mean to trust the promises made by some projects, then simply do not trust them. They are selling you an illusion and the rosy picture they paint is inaccurate.

royalfestus

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My advice to new traders is
1. Make sure you invest what you can afford to lose and start with the smallest amount possible
2. Look for new coins with good partners, such as top exchanges and well-known investors
3. Research every coin adequately and go for a project with proper valuations and a shorter roadmap that can not trap your investments beyond the expected bull market
4. To be in a safe position, invest more in coins before Bitcoin halving and maybe 2 months after

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