If You Could Start Over, How Would you Learn Day Trading - page 3.

bitterguy28

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yeah, this is my biggest regret in life terming crypto world, that i did not pursue my Trading(dat trading to be specific) that i focus in Long term that lessen my ability to read the market.
but I don't doubt my decision because I knew trusting all my coins on hold will bring me fortune in the future, or maybe not me? but my children for sure.

Quote from: maydna on February 05, 2023, 09:39:32 AM

You can add one more, namely:

Try trading with real money besides trading through the simulator, so you also have real trading experience. This will be useful for you so that you can better understand where your weaknesses are in learning to trade.

Don't forget to learn to control yourself in trading, so you don't get emotional in dealing with situations on the exchange.

Never stop to learn more about trading so you can increase your skills.

wait , what is it ? is there something to do with the simulator here in this thread when we are talking here how to start over ? simulator is for starters and the real money os tfor the real thing.

maydna

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You can add one more, namely:

Try trading with real money besides trading through the simulator, so you also have real trading experience. This will be useful for you so that you can better understand where your weaknesses are in learning to trade.

Don't forget to learn to control yourself in trading, so you don't get emotional in dealing with situations on the exchange.

Never stop to learn more about trading so you can increase your skills.

Mr. Magkaisa

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Quote from: Davidvictorson on February 03, 2023, 02:57:24 AM

Today is just the 3rd day of the second month of the year 2023. The 2022 showed us hell and we learned so many important lessons. Some were good, some were bad, and some were ugly nonetheless, there was a lesson learned. This question occurred to my while I was ruminating last night. I searched YouTube and got some answers but still I am itching to know hear the opinions of members of this community.
The Question: If You Could Start Over, How Would you Learn Day Trading?

Here are the steps a someone said they will follow:

- Start with a simulator and treat the money like real money
- Find the right broker
- Find a mentor
- Find and join a trading community
- Keep a trading journal
- Find a success strategy and test it out.

- Do you suggest that it is good to trade with a Forex trading mate? It seems like that's what you mean, although there's nothing wrong with what you're suggesting, so if I'm aware of cryptocurrency, I don't think I'll do anything to look for a broker.

Besides, I learned to do trading without a broker as you say, although my others give suggestions here on this forum platform, which if I think what he said is right, he will be considered a mentor for me. I am learning from my trading experience, this is the best teacher because when my strategy is wrong, I realize that I should change this strategy so that this mistake does not happen again.

lobo13hf

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I'd definitely learn about all the knowledge first before trying because honestly with trading most of the time newbies are wasting their money by doing some haste decision it's more like a bet.
meanwhile, they could easily use demo accounts available in many exchange just for educational purposes, but honestly there's not so much you could do even if you were to start over because the results always depends on your decision making, it's not like if you given second chance you'd make some significant difference, the results will basically the same.

DoublerHunter

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Quote from: Yamifoud on February 04, 2023, 04:46:23 PM

I actually start knowing crypto trading by doing online research and by asking friends on social media, and it works fine for me until I reach my goal. If I start over, I will do the same but maybe this time, I was even more aggressive than before. Why? Because we already have a basis that crypto is growing, unlike before when every drop comes could make me think it was an end and then get crazy to sell. What I need to change is the behavioral approach to the market and I must carry such positivity so I can make good decisions and less mistakes.

^Everyone of us relies on online research, there is no one willing to teach us personally.
I have a little knowledge of trading but I did not pursue myself doing in trading because I feel I still lack knowledge of it. Trading requires not only technical analysis but also apply fundamental analysis, you need to learn both of them so that you will get an accurate result on your trading position. Yes, the market is going crazy and no one can predict what is exactly the result.

Yamifoud

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I actually start knowing crypto trading by doing online research and by asking friends on social media, and it works fine for me until I reach my goal. If I start over, I will do the same but maybe this time, I was even more aggressive than before. Why? Because we already have a basis that crypto is growing, unlike before when every drop comes could make me think it was an end and then get crazy to sell. What I need to change is the behavioral approach to the market and I must carry such positivity so I can make good decisions and less mistakes.

fullhdpixel

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Quote from: Davidvictorson on February 03, 2023, 02:57:24 AM

Today is just the 3rd day of the second month of the year 2023. The 2022 showed us hell and we learned so many important lessons. Some were good, some were bad, and some were ugly nonetheless, there was a lesson learned. This question occurred to my while I was ruminating last night. I searched YouTube and got some answers but still I am itching to know hear the opinions of members of this community.
The Question: If You Could Start Over, How Would you Learn Day Trading?

I have started by learning the basics, like reading the charts, studying different patterns and strategies day traders use to maximize their profits and minimize the risk of losing money. Once I would get that done, then I would jump into a platform that offers trading with trial money just to learn how it's done. I would probably also watch a hell of a lot of videos teaching everything.

michellee

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If I were allowed to start trading all over again, maybe I would have studied and practiced more to hone my trading skills and make a profit. Besides trading, I will also continue to be a holder because holding lots of bitcoins can give me big profits. And maybe I will also make a lot of strategies to deal with market situations that are always changing, even though I have made several strategies based on market situations. And maybe I'll focus on being a hodler instead of trading.

xSkylarx

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When I started learning before, I wasted my time finding a signal group, which is why it took me too long to learn to trade, so if I were to start again, I would mostly watch tutorials (paid or not), then start learning from them without finding any shortcut to finish the tutorial and start to trade. Also regarding the demo account, I shouldn't spend a lot of time on it, like treating it like real money, because before, I was spending a lot of time in the demo because I was making a lot of mistakes because I didn't treat it seriously.

cryptoaddictchie

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I didnt do actually day trading but if I would given chance to start over maybe the routine of investing early and trusting my guts more. Cause Ive got some tokens in the past that If only I hold it then it should become a worthy investment as of this day and even 1 to 2 yrs ago since I caught or seen their prices way too early.

adaseb

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If I could go back to the beginning I would do a few things differently.

For one I wouldn’t go into trading stock options. Those were a big mistake. I never understood delta or IV or IV crush and what not. Most of all the options I bought expired worthless.

Second I wouldn’t join any paid groups or buy any of those ebooks teaching how to trade. They are all scams out to get your money.

Silberman

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Quote from: Davidvictorson on February 03, 2023, 02:57:24 AM

Today is just the 3rd day of the second month of the year 2023. The 2022 showed us hell and we learned so many important lessons. Some were good, some were bad, and some were ugly nonetheless, there was a lesson learned. This question occurred to my while I was ruminating last night. I searched YouTube and got some answers but still I am itching to know hear the opinions of members of this community.
The Question: If You Could Start Over, How Would you Learn Day Trading?

Here are the steps a someone said they will follow:

- Start with a simulator and treat the money like real money
- Find the right broker
- Find a mentor
- Find and join a trading community
- Keep a trading journal
- Find a success strategy and test it out.

The points you bring are good, however I will add investing all my free time to learn how to trade as soon as possible, this is because the longer you take to learn how to trade the higher the price of bitcoin will be when you are finally ready, and you will miss some very good opportunities during your learning process, and this is unacceptable as if you miss the bull run then you will need to wait for years for another opportunity like it to present itself.

thecodebear

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Using a simulator that has not only Bitcoin but a bunch of alts so you can learn how they tend to move would be very useful.

If there are simulators like that that give real time price data that you can trade with pretend money I would do that, but also put a small amount of money in the market to at the same time get the experience of trading your own actual real money.

Get a feel for volatility of Bitcoin and altcoins, of how they move, of what the risk is like, of what sort of percents you should be shooting for on each trade and what sort of time-to-completion you should be shooting for on each trade, of how to split up your trading stash into multiple trades and generally just how to have a lower risk strategy for trading, of how news affects the market, of how it feels to get in a trade and watch the price drop and figure out how you react to that (that last thing you need to do with real money to get the actual experience).

I'd probably do that for a while, and then once I felt more comfortable with the market I'd put a bit more real money in and focus on doing real trading.

Captain Corporate

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First of all, I wouldn't spend all that much time just not being sure about trading or not. If you want to be a trader, then be one. Spending years not being sure about becoming a trader made me lose so much time that if I started earlier with more confidence then I would have become someone who could have made a lot more profit. On the other hand, if I wanted to learn, I should have sticked to the fundamentals, the indicators, the charts, and not "gut feeling" or anything that the market is saying, if data tells something will happen, more often than not that thing would happen, doesn't matter what the people are saying.

Ziskinberg

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- I have to empty my mind
- find someone (mentor) that could teach me
- online research

I believe that learning trading is too easy this time as we can have a lot of resources but things will change when we are in actual trading. That is why if we have this 2nd time around, I have to work on the following things;
- courage
- mindset (positivite)
- patience
- knowledge and skills

lionheart78

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Quote from: Davidvictorson on February 03, 2023, 02:57:24 AM

The Question: If You Could Start Over, How Would you Learn Day Trading?

Here are the steps a someone said they will follow:

I would restart by :

1. Learning the basics (includes market mechanics, technical analysis, risk management, and trading psychology)
2. Learn to create a clear and brilliant plan (this deals with risk management strategy, trading strategy, and goal)
3. Applying what I learned on a Demo account or as OP stated, a trading simulator
4. Stay up to date (this is a must since obsolete information can cost us huge amounts of money if the trading fails)
5. Mentorship if possible or if not can ask or seek help.

All of those steps need discipline, without proper discipline all the plans and hardworks will be for nothing.

ethereumhunter

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If I had started trading earlier, I want to make sure that I would have learned a lot more so I could have better market analysis skills than I do now. But I feel it will be very difficult to find a suitable mentor because they can ask for a fee before teaching me. At the beginning of trading, the capital was most important to me and if I were to use it to pay a mentor, my capital amount would decrease. And I'd rather learn by myself by looking for information about how to analyze well and others.

bittraffic

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Sometimes when people try to learn to trade, it is because money is tight and urgently needed. There is no time to actually learn some basics of it but went ahead in action. When I tried BTC, its a rush time because the bear market was over and so the people I have heard talking about were rushing to buy. The only time I read the basics is when I'm done buying already and have time to look at how all the blockchain work.

The simulator like the demo account works differently than the real account, but Binance mock trading must be useful to those who wanna try. But if I have to go back to relearn, I would just take time to learn the indicators, get used to it well and just follow the bull run cycle. No futures trading but sell during ATH and wait.

jrrsparkles

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Quote from: Davidvictorson on February 03, 2023, 02:57:24 AM

- Start with a simulator and treat the money like real money
- Find the right broker
- Find a mentor
- Find and join a trading community
- Keep a trading journal
- Find a success strategy and test it out.

1. Trading simulator can help implementing our strategy but it can be never same as trading with our real money no matter what we try and assume it is.

2. for crypto trading broker has no job to do.

3. Mentor, not really necessary for small scale trader.

4. Try to read as much as possible, it will help to predict the market but don't rely on it completely.

5. Here when you found the strategy try it on demo account and see how it works.

Fivestar4everMVP

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Quote from: Davidvictorson on February 03, 2023, 02:57:24 AM

- Start with a simulator and treat the money like real money
- Find the right broker
- Find a mentor
- Find and join a trading community
- Keep a trading journal
- Find a success strategy and test it out.

- First one is very important, that's one of the best ways to learn how to trade, starting with a demo account and treating the money in there like real money, and it is also very important to know the amount of real money you want to start trading with, and use that same amount to start trading on a demo account.

-By right broker, I believe you mean the right exchange(crypto minded), I personally will chose binance and kucoin for my trading activities.

- I am not sure about finding a mentor, except the person is a complete newbie, for me, with the kind of experience I already have in cryptocurrencies, I don't think finding a mentor is important or relevant.

- Finding and joining a trading community is also a good one, by doing so, you can learn about other types of trading strategies, also know what others are trading, and most importantly, know what is happening with some of the major cryptocurrencies which will help in decision making.

- Keeping a trading journal, is this really important?

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