Topic: How to trade properly for newbies (Read 325 times)
Does someone know good youtube channels explaining all the stuff around trading for beginners. Just basic knowledge.
4. Do not borrow, deposit too large (under 25X is safe)
I do not know why people leverage over 20x if not using cross margin, even if cross margin is used, then it is very important to reduce the trading amount from the total amount in the leverage trading account. Using 25x will result to easy liquidation, I will not advice using 20x, even 5x is too high, 2x for experienced traders, 1x not for traders but also for experienced traders. If someone is a new trader, it is not bad to use just 1x or spot trading with just $100 to be the highest trading amount. Newbies will lose it all though, that is why the money that can be afford to lose and never think about it is the amount to start with trading. 
It's quite understood that we have different dimensions of trading, the only thing i found out, is that your method of trading to achieve success or profit can't be favourable to me if i follow the step of your trading patterns, i think during trading we develop the mentalities of making profit or avoiding lost through our previous mistakes, so i believe that is a personal skill developed and corrected through our initial engagements and errors that occurs during the process, so it's the reason no one is perfect in trading academy, everyone experienced lost and profit also, let us not pick a specific method as a source to make gain through trading.
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4. Do not borrow, deposit too large (under 25X is safe)...
4. Do not borrow, deposit too large (under 25X is safe)...
This is the biggest mistake newbies can make. Where margin trading begins, the deposit necessarily ends. A beginner needs to gain enough experience and knowledge before he can start trading with leverage. And spot trading should help to hone these skills. In addition, the leverage x25, which OP writes about, is also risky not only for beginners.
New traders must practice their trading strategies on their demo account before using them in the live market. This way, they can save their money from losing and can also get an idea of how their strategy will work in the live market.
Newbies must learn to control their emotions. They might see the market as an easy way of making money and try to do all at once by rushing things. Take your time to build your career slowly because that’s how it will last for long.
The best advice I can give to newbies is not to take risks when you are not prepared. You might see the market as an easy way of making money, but when you actually start doing it, you will understand that it is not that easy.
Well, I believe that newbies must be on focus to gain knowledge first before doing anything like this trading. Probably they are eager to learn to trade for they believe that this helps them to improve their living, that be right, of course, but if this will be mismanaged big losses will also have come to them which is very common to newbies.
1. Position is the most important thing
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets
And that they need to consider all of these tips and advice. This is not a simple tip that they will just ignore but this could help them to open their mindset in regards to having easy money in trading which is totally wrong. By simply following these tips, I'm for sure they could able appreciate trading more. 2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets
1. Position is the most important thing
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets
Yes, newbies pl never borrow money to invest. What will happen is, you would be committed to pay back the amount at a situation where your orders do not seem to be yielding you turnover / profits to payback the amount when you need it. So what will happen is, you will tend to close off the trade at loss and complete your commitments. You will be at loss. So never have commitment or depend on its turnout. Just invest if you have enough money to manage. Do not get in seeing your friends being in it.
I was guilty of no.5- Do not leave orders overnight.
I slept off while a trade was still on and upon waking up in the early hours of the next day, I had lost more than a $100, it was really hurting and discouraging since that was like the first time I had started trading....
Thank God I didn't give up though, am now enjoying the benefits of trading wisely .
Please add, do not trade or invest above your means, risk what you can afford to lose so you don't go into depression if you eventually lose them.
Time and analyse your trades properly.
Never think you're above any knowledge, knowledge is key so be open to learning.
I slept off while a trade was still on and upon waking up in the early hours of the next day, I had lost more than a $100, it was really hurting and discouraging since that was like the first time I had started trading....
Thank God I didn't give up though, am now enjoying the benefits of trading wisely .
Please add, do not trade or invest above your means, risk what you can afford to lose so you don't go into depression if you eventually lose them.
Time and analyse your trades properly.
Never think you're above any knowledge, knowledge is key so be open to learning.
1. Position is the most important thing
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets
For a beginner, I suggest studying all the information about trading both on the forum and on the youtube channel. Now there are lots of articles and youtube channels that discuss the right way of trading. So that we do not experience huge losses when trading.
When he said position is important I actually believe it. I do a lot of 69 positions when I was in my early 20s now, I'm disgusted with what I did.
OP is up for margin trading as I can see but it's not for newbies when you do that. Most newbies are going to the spot market. It's the way for crypto newbies to earn more than just going to leverage which if he doesn't have much experience and lots of reading the indicators, he will lose.
1. Position is the most important thing
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets
For a beginner, I suggest studying all the information about trading both on the forum and on the youtube channel. Now there are lots of articles and youtube channels that discuss the right way of trading. So that we do not experience huge losses when trading.
1. Position is the most important thing
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets
I underline for point 4 and point 6. Because I think that's the most important.
"4. Don't borrow, deposit too large (under 25X is safe)"
It is very dangerous for us because the too high interest will make it difficult for us to pay it. If we can profit from trading if we lose? how are we going to pay for it?
"6. Adjust emotions when entering orders. If you lose, remove the other batch"
don't use emotions for trading but use knowledge and thoughts when trading
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1. Understand that no one and that including the experienced crypto trader can 100% trade properly
2. Crypto trading is like gambling a lot of traders set profit/loss rates and stop-loss but choose not to follow it due to trading buzz.
3. Borrowing or participating in leverage trading is the worse case of crypto trading.
4. Due to the volatility of the market I don't see anything bad in leaving orders overnight if the trader is sure about her decision.
5. No one can totally adjust or keep in check her emotions.
2. Crypto trading is like gambling a lot of traders set profit/loss rates and stop-loss but choose not to follow it due to trading buzz.
3. Borrowing or participating in leverage trading is the worse case of crypto trading.
4. Due to the volatility of the market I don't see anything bad in leaving orders overnight if the trader is sure about her decision.
5. No one can totally adjust or keep in check her emotions.
How to trade properly for newbies
Just don't. If you are new to Bitcoin and you are new to trading, you are going to lose money. There is no doubt. At least learn about the coin before you start trying to make money trading it.
BTW, most day traders lose money. The ones that lose the most are the ones that are lucky at first and think they know what they are doing when they don't.
Just don't. If you are new to Bitcoin and you are new to trading, you are going to lose money. There is no doubt. At least learn about the coin before you start trying to make money trading it.
BTW, most day traders lose money. The ones that lose the most are the ones that are lucky at first and think they know what they are doing when they don't.
Can't agree more. Crypto trading is open for everyone doesn't mean it's profitable also for everyone. One mistake which many new traders made is that they jump straight away with huge capital. Since they don't have necessary knowledge and understanding of rypto trading tools they end up cursing the market. The fault is not in crypto market rather in us, we have a greed that we wanna get rich overnight.
There are no pre-set rules when it comes to trading. It’s best to create your own trading plan and rules and stick to them. While trading with Coinexx, I always do what worked for me while backtesting. I avoid hits and trials in the live market so that I can avoid unnecessary losses along the way.
1. Position is the most important thing
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets
Beginners should not rush into trading to make money. They should seek for all trading strategies and study the market how it works before going trading . 2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets
Novice Cheats:
1. Buy on dips, keep buying, and hold on firmly.
2. Don't touch the contract or leverage without learning stable band profit.
3. Learn more, understand the essential technology behind the project, and like to research technical aspects.
1. Buy on dips, keep buying, and hold on firmly.
2. Don't touch the contract or leverage without learning stable band profit.
3. Learn more, understand the essential technology behind the project, and like to research technical aspects.
For a newbie, I can only suggest you buy the coin and wait for a while.
Do not rush to sell the coin, especially if the price increases for a small price.
Calm down and do not panic if the price is down because the price will always back to your buying price so you do not need to worry.
Do not attract to buy and sell many times if you can not analyze the coin moves because that can get you in purchasing the coin at a high price.
The important is do not to use too big money to start trading if you do not have skills.
Many more things that a newbie should know before they start trading.
Do not rush to sell the coin, especially if the price increases for a small price.
Calm down and do not panic if the price is down because the price will always back to your buying price so you do not need to worry.
Do not attract to buy and sell many times if you can not analyze the coin moves because that can get you in purchasing the coin at a high price.
The important is do not to use too big money to start trading if you do not have skills.
Many more things that a newbie should know before they start trading.
Don't trade yet if you are a newbie. You'll lose money and gain nothing. Do not take risks. Learn about trading strategies and marketing to gather knowledge about it or at least learn about coin before trading. Check thoroughly if the person that you're trading is not a scammer.
If ever you'll still lose money. You need to be calm and start again maybe the next opportunity will be much better for you that'll make you successful.
I'm still a new and i'm still learning about trading and i hope we can learn together.
If ever you'll still lose money. You need to be calm and start again maybe the next opportunity will be much better for you that'll make you successful.
I'm still a new and i'm still learning about trading and i hope we can learn together.
Thanks for thr suggested points but I believe not all will employ this set of parameters. Trading is like an art, we have different skills that can apply to those charting and technique. I agree with mk4, not all successful trader follows the set standard. But is there a standard one to begin with? I am also doing trading but Ive been doing minor on your suggestion like set profit on a particular ratio. Nah! I havr my own scaling when doing trading.
They are all kind reminders, and there are no standards. For everyone, there are individual differences. As a novice, preparing for some recent tuition is the first thing to do, unless you are an anti-human genius. Few people can achieve the same heart and hand movements. If you do, you are not human. Haha, I can share a bunch of failed experiences with you. In the Bitcoin trading market, the Pareto rule and the negative sum game have told us that most of them are losses. This is inevitable, human nature is like this, there is no escape.
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
Implement a strategic plan that calculates losses and profit reasonably instead of dreams of rapid profit.3. Always set stop loss below 10% of the account
Stop loss orders are good but without studying, and do not stop the loss, but working on the accumulation of all previous losses to explain until they are comprehensive loss.5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets
It differs from the way for your account for sale and purchase orders.6. Adjust emotions when entering orders. If you lose, remove the other bets
It does not matter to adjust the emotions as far as they convert those emotions to power to invest and profit more money. Emotions are not something but the energy you need to be employed correctly.
I agree with some of your points but I disagree with your point number 6.
Point 6: don't always leave order overnight I don't really agree with that point there are different trader so depending on the type of trader you are. If you are a long term trader or mid term trader then you will have to leave your orders over night. If you are a day trader then I agree with that, so maybe you should specify.
Point 6: don't always leave order overnight I don't really agree with that point there are different trader so depending on the type of trader you are. If you are a long term trader or mid term trader then you will have to leave your orders over night. If you are a day trader then I agree with that, so maybe you should specify.
1. Position is the most important thing
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets
What is the point of this post? Do you really think you can take any person from the streets, give them this advice and they will start making money with trading? There are lots of people who read multiple books about trading, read articles, blogs, watch videos, take courses and they still lose money with trading.
People who try to get rich quick tend to get poor quick when it comes to crypto.
I think you need to change your title, it's irrelevant and awkward.
First, I agree above, if you're a newbie you shouldn't enter the trading field if you've lack knowledge. Because there's no proper execution in trading, there's no step on it, it might be what you meant is the tips and suggestions in trading. BTW, there are too many of them and I just like to add one of the most important to your input, it should also be a "trading plan".
Yes, that's it. You have an aiming or targeted on the right trade.
It shouldn't be changed even there's a FUD or even a massive bump of a coin, just stay on it because you have a plan.
As a newbie, I suggest going first in copy trading. Gaining knowledge after gaining profit is far better.
First, I agree above, if you're a newbie you shouldn't enter the trading field if you've lack knowledge. Because there's no proper execution in trading, there's no step on it, it might be what you meant is the tips and suggestions in trading. BTW, there are too many of them and I just like to add one of the most important to your input, it should also be a "trading plan".
Yes, that's it. You have an aiming or targeted on the right trade.
It shouldn't be changed even there's a FUD or even a massive bump of a coin, just stay on it because you have a plan.
As a newbie, I suggest going first in copy trading. Gaining knowledge after gaining profit is far better.
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Gonna highlight this point. I did day trading at my first time trying to get into the field of trading and even with the use of tutorial from Youtubers like Cryptojack, it never went well for me. At least I got to know few indicators though, but earning from it is a different story for me.And yes, most of them lose money.
This is why I stayed for long-term investment for now.
3. Always set stop loss below 10% of the account
It shouldn't be a must. It should depend on the market one is trading and how volatile it is. Imagine if someone opened a position on 10x leverage. 10% stop loss is just a 1% move on the spot market for the stop loss to be triggered. You will find more stop losses getting triggered more than you take profit in this volatile crypto markets4. Do not borrow, deposit too large (under 25X is safe)
Anything above 10x is very high. The number of trades I won on a leverage of more than 25x can't be more than 5 3. Always set stop loss below 10% of the account
Stop loss is not necessary in all kinds of trading, it has advantage and it also has disadvantage.4. Do not borrow, deposit too large (under 25X is safe)
Just use leverage instead of the word borrow for not to confuse people, 25x is also still too much, the lower the leverage will be the lower the risk of losing. 1. Position is the most important thing
Stop loss is the most important IMO. Taking position is as easy as placing a bet4. Do not borrow, deposit too large (under 25X is safe)
This is good. Binance has a restriction on the leverage a newbie can use (x20). 5. Do not leave orders overnight
This shouldn't be a problem if you set your stop loss and sell trigers. Automatically the system will do accordingly to the commands set.6. Adjust emotions when entering orders. If you lose, remove the other bets
IBtw you forgot to add; Don't trade futures until you are no longer a " newbie". Trading futures is not for beginners
1. Position is the most important thing
It is not. The most important thing is you have to know how long you should let your position open. You should know you have to close your position, accept a loss, minor loss, a draw. If you can not accept it and let your position opens forever, you will be liquidated.Quote
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
Profit/loss ratio is 1:1 is bad and in my opinion, 3:1 is the ratio to use.Quote
4. Do not borrow, deposit too large (under 25X is safe)
No. It depends on the market crashes or not and your entry price, your stop limit, stop loss order.One of the best weapons in trading
1. Position is the most important thing
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets
Might also be good to add that don't trade if they're still new and check those trading exercises or simulators where they can trade without risking their own money. I think that's a good start for the newbies to have an idea of how it goes with trading so that they'll make themselves be prepared if it's about putting their money on the line as they trade. And as an addition to that tip, just don't leverage/margin trading, it's not really for the beginners. 2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets
Thanks for thr suggested points but I believe not all will employ this set of parameters. Trading is like an art, we have different skills that can apply to those charting and technique. I agree with mk4, not all successful trader follows the set standard. But is there a standard one to begin with? I am also doing trading but Ive been doing minor on your suggestion like set profit on a particular ratio. Nah! I havr my own scaling when doing trading.
Trading properly is trading realistically, methodically, and with actual proper risk control without getting too cocky over good trades, and following your own strategies. There is no sort of "standard" or "proper" way of trading like what you've mentioned even if I agree with some of your points; the right rules to follow will be different for everyone.
How to trade properly for newbies
Just don't. If you are new to Bitcoin and you are new to trading, you are going to lose money. There is no doubt. At least learn about the coin before you start trying to make money trading it.
BTW, most day traders lose money. The ones that lose the most are the ones that are lucky at first and think they know what they are doing when they don't.
Just don't. If you are new to Bitcoin and you are new to trading, you are going to lose money. There is no doubt. At least learn about the coin before you start trying to make money trading it.
BTW, most day traders lose money. The ones that lose the most are the ones that are lucky at first and think they know what they are doing when they don't.
1. Position is the most important thing
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets
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