Is trading good for beginners? - page 15.

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Quote from: Sakanwa on February 20, 2023, 07:59:02 PM

My question is can someone that doesn't have any knowledge about trading and how the system work can he or she trade and be profitable in it? Since at some points it has some compliments bof luck.

Is possible for him to gain even without having the basic knowledge about trading as you said it's a game of luck so he might be lucky, but he actually made the wrong decision to jump into trading without basic knowledge.

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After some time of discussion, he has been told that it's just for them to choose on the candles sticks if it's up the they want to choose or the one going up just with this idea can they trade with such an idea.
so I wan to know if it's right for the person to begin trading?

Because of the risk involved, your friend must have some basic knowledge of cryptocurrency in order to know what to do while trading. You should also advise him to invest the amount he/she can afford to lose so that when the market goes down, he has some money to use while waiting for the market to recover.

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Quote from: bettercrypto on February 27, 2023, 01:09:45 AM

If an investor who enters the crypto trading industry does not know of it, he only has capital, he is called a "Gambler" not a trader. He just depends on luck to earn the amount of money he will use. That means he can do that, but the risk is high because the investor is gambling with his investment.

Apart from that, he also knows in himself that there is also a high possibility that he will lose his investment in crypto trading. Then he should not have regrets about losing his capital because most cryptocurrencies are volatile.

There are plenty of people who could be considered gamblers in the crypto world, and I mean literally tens of thousands of people if not more. Because, they both put in money that they can't afford to lose, which is already gambling because if you lose it then you are screwed, but also they do not study how to trade and then they end up losing money that way as well.

Both of these makes you a gambler and not a trader and yet unfortunately there are tons of people who do not make any type of changes at all. I believe that we shouldn't be focusing on something this small, it really doesn't make any sense to me at all to gamble this way when you can do it normally.

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Quote from: Sakanwa on February 20, 2023, 07:59:02 PM

Someone met me and we were had a conversation on trade and he told me that he has used all he has been saving for trading and asked me if he can make something out of it and I asked him if he had any knowledge about it and he said no.

Rule number one about trading,if you don't have the skill do yourself a favour and don't trade!
If you choose to be stubborn about it chances are high that you will actually lose more money than you would want to win.

Quote from: Sakanwa on February 20, 2023, 07:59:02 PM

My question is can someone that doesn't have any knowledge about trading and how the system work can he or she trade and be profitable in it? Since at some points it has some compliments bof luck.

Beginners luck you mean, without skill you definitely have a 50% chance of getting you first profitable trade but after that to survive you require skill.

Quote from: Sakanwa on February 20, 2023, 07:59:02 PM

After some time of discussion, he has been told that it's just for them to choose on the candles sticks if it's up the they want to choose or the one going up just with this idea can they trade with such an idea.
so I wan to know if it's right for the person to begin trading?

This sounds like guess work and I will discourage your friend from going this route, trading requires skill, discipline, patience and a good reading of technical analysis to navigate your way around the charts.

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All traders are first beginners and with the passage of time they become a successful trader but the hard work will become a cause of your achievements. lacking of good and useful information regarding of courses of trading will be dangerous for you production of money.

If a person is participating in crypto trading then he should first understand that how people become able to get profit and what are the risks associated with the trading and how to cope with these risk factors.

Trading is easy to initiative but get successful result in trading is not easy and not everyone understands properly about it so therefore understanding is key point for becoming a better person for trader.

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Trading involves risk and necessitates extensive education before one can become successful. In actuality, even those with expertise in certain markets and trading strategies lose money. So it wouldn't be a good idea to jump into trading without knowing anything about it and hoping for luck to make it work. A novice would do well to steer clear of trading until they could learn more about it. I don't think the cryptocurrency industry works that way, so we shouldn't be too eager to make quick money. Many people who you see on the internet who claim they make money through trading have been playing the game for many years, and many of them are once again lying.

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Quote from: John Abraham on February 27, 2023, 03:06:35 AM

Quote from: kotajikikox on February 27, 2023, 02:18:07 AM

if he is ready to risk everything ? then why not right? but the problem here is that how could you trade if you have no idea at all mate and for God sake this is our money that needs to be earn or gone then why not? better to try using Trading Bot first before bringing your money inside mate this is how we can save our money since in the end? we will be the loser here if not be careful .

Why not learn how to trade before he starts with real money?
Currently, many platforms offer demo balance to start trading as a demo and learn how to trade. Even Bot won't be able to make a profit for you if you cannot instruct what to do. Right? I won't suggest anyone risk his everything even if he wants to risk it. Sometimes people make decisions out of frustration.

Obviously, that person underestimates trading and so does the market volatility. Not actually hard to learn trading but too unfortunate that they just think it will work too easily and neglect to see the risk in doing something that we never know. Yes, most exchanges offer a demo account to newbies as a playground to learn and it was enough prior to actual trading. In fact, learning the basics about trading never takes so long so it is impossible we can't just spend for this. Because if we wanted to grow and become a successful trader, we must also invest first into learning prior to starting otherwise regrets and failure is only what we get in the end.

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Quote from: kotajikikox on February 27, 2023, 02:18:07 AM

if he is ready to risk everything ? then why not right? but the problem here is that how could you trade if you have no idea at all mate and for God sake this is our money that needs to be earn or gone then why not? better to try using Trading Bot first before bringing your money inside mate this is how we can save our money since in the end? we will be the loser here if not be careful .

Why not learn how to trade before he starts with real money?
Currently, many platforms offer demo balance to start trading as a demo and learn how to trade. Even Bot won't be able to make a profit for you if you cannot instruct what to do. Right? I won't suggest anyone risk his everything even if he wants to risk it. Sometimes people make decisions out of frustration.

Sometimes we gamble in casinos and place max bet in the hope of winning the bet. After the session, we realized that was our biggest mistake. Sometimes luck prefers, and you can win the bet. But, The chances are not 100%. This is not how we should suggest people risk their money even if they are ready to spend it.

As I said before, Trading is not rocket science. You don't have to spend years learning it. Just spend a few weeks/months, and you will know how to do it. Then start with real money.

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if he is ready to risk everything ? then why not right? but the problem here is that how could you trade if you have no idea at all mate and for God sake this is our money that needs to be earn or gone then why not?

better to try using Trading Bot first before bringing your money inside mate this is how we can save our money since in the end? we will be the loser here if not be careful .

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Quote from: Kasabus on February 24, 2023, 02:07:09 AM

Luck is also essential in trading but it’s knowledge and skills that should be prioritized first. Without them, a trader may only lose his money and waste his time and effort. That is the reason why beginners are advised not to trade unless they are ready to lose, and most especially they already have background about trading and how it will be profitable. Trading is hard and quite complicated as there are a lot of factors to consider before trading, so one must trade only if he is mentally, emotionally and financially ready.

Trading is not hard, nothing is hard when you know what you're doing. The problem is that people don't know how to trade and haven't learnt it yet they want to trade and that's when it becomes hard and they end up losing all their capitals and any profit that they have previously gotten out of luck. Nobody should be relying on luck when it come to trading. Trading isn't gambling and anybody seeing it as that is lost.

Luck shoudn't be a factor for any skills that needs learning like trading. Luck is needed in our everyday life but we must put in the work and preparation so when the opportunities comes we can take the chances. Newbie should never be trading if they haven't learnt how to do so effectively and gotten some demo practice that won't cost them any real lost.

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Quote from: Sakanwa on February 20, 2023, 07:59:02 PM

Someone met me and we were had a conversation on trade and he told me that he has used all he has been saving for trading and asked me if he can make something out of it and I asked him if he had any knowledge about it and he said no.

My question is can someone that doesn't have any knowledge about trading and how the system work can he or she trade and be profitable in it? Since at some points it has some compliments bof luck.
After some time of discussion, he has been told that it's just for them to choose on the candles sticks if it's up the they want to choose or the one going up just with this idea can they trade with such an idea.
so I wan to know if it's right for the person to begin trading?

If an investor who enters the crypto trading industry does not know of it, he only has capital, he is called a "Gambler" not a trader. He just depends on luck to earn the amount of money he will use. That means he can do that, but the risk is high because the investor is gambling with his investment.

Apart from that, he also knows in himself that there is also a high possibility that he will lose his investment in crypto trading. Then he should not have regrets about losing his capital because most cryptocurrencies are volatile.

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OP I would like to know if the person you quoted traded on a futures trading platform? I think he was trading on a futures trading platform. And expressed to you all the regrets of his victims. My point is that one who has no knowledge about trading is better not to trade. One can never trade on a trading platform with zero knowledge. As a result, you always fall victim. People who think trading platform is too easy to trade end up losing on trading platform. Although trading with guesses may be profitable at first, most of the time they will end up losing. So I mean never trade with zero knowledge be it new or old.

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Being profitable without having an understanding of the whole thing? Well, if we're going to talk about luck, there could be around 0.1% of it.
But honestly, someone who's jumps into the ocean without any lifevest would result in drowning and that's what will happen to that person. Getting into trading with wholly zero knowledge on it is likely to learn the lessons in the hardest possible way and with his life savings? That's a dumb idea to test the waters.

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Quote from: Kasabus on February 24, 2023, 02:07:09 AM

Quote from: shinratensei_ on February 21, 2023, 06:06:19 PM

no I don't think so, trading quite honestly is a lot more difficult than just investing. it requires tremendous effort in just creating some profits out of your trading that I think even some veteran aren't really cut it to be traders. the thing is, by trading you should create some series of good decision in order to make your trading succesfull and you're quite literally gonna be against the whales that most of the time manipulates. If you think you are smart enough to go against then wave then you can try, but always know that trading honestly really difficult if you want consistency in creating the profit. luck also have huge factor in determining your success honestly.

Luck is also essential in trading but it’s knowledge and skills that should be prioritized first. Without them, a trader may only lose his money and waste his time and effort. That is the reason why beginners are advised not to trade unless they are ready to lose, and most especially they already have background about trading and how it will be profitable. Trading is hard and quite complicated as there are a lot of factors to consider before trading, so one must trade only if he is mentally, emotionally and financially ready.

agreed that knowledge and skills should be prioritized,regardless things might change as the time goes and as the trading strategy evolves, there were many cases of technical analysis being used by whales to misled the general small traders which causes these small traders to lose, the whales that quite literally holds huge amount of coin themselves could easily find the general small traders weak spot by using technical analysis and dump when the small traders think the value gonna rise from their TA, i'd say one should also care the fact that there are whales with huge influence that they could be going against and therefore gives them slim chance of winning.

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Quote from: Viscore on February 26, 2023, 03:44:25 PM

Quote from: Sakanwa on February 20, 2023, 07:59:02 PM

Someone met me and we were had a conversation on trade and he told me that he has used all he has been saving for trading and asked me if he can make something out of it and I asked him if he had any knowledge about it and he said no.

My question is can someone that doesn't have any knowledge about trading and how the system work can he or she trade and be profitable in it? Since at some points it has some compliments bof luck.
After some time of discussion, he has been told that it's just for them to choose on the candles sticks if it's up the they want to choose or the one going up just with this idea can they trade with such an idea.
so I wan to know if it's right for the person to begin trading?

If you will follow the basic rule in trading, beginners should gain sufficient knowledge first before thinking on making profits from trading. Because trading is hard and difficult, so trading without knowledgeable in the first place will only end up into committing mistakes and losses. That is why trading is not advisable for beginners because they will only mess up in trading and waste their money and time knowing they never get the right concept in trading. Although trading is for everybody, but not everyone is expected to find profits and fortune in trading.

Knowledge is a vital thing we need in trading and we should not just simply think that it is easy to skip and do actual trading without this stuff. People who come and do trading like this will certainly fail. It should be kept in our mind that we can lose our money if we are too careless in trading, how much more if we don't even know the basic of it - that is worse than I think. So for newbies, instead of being aggressive to trade, better make aggressive first to know at least the basics in trading as this is the ticket to success.

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Quote from: Sakanwa on February 20, 2023, 07:59:02 PM

Someone met me and we were had a conversation on trade and he told me that he has used all he has been saving for trading and asked me if he can make something out of it and I asked him if he had any knowledge about it and he said no.

My question is can someone that doesn't have any knowledge about trading and how the system work can he or she trade and be profitable in it? Since at some points it has some compliments bof luck.
After some time of discussion, he has been told that it's just for them to choose on the candles sticks if it's up the they want to choose or the one going up just with this idea can they trade with such an idea.
so I wan to know if it's right for the person to begin trading?

If you will follow the basic rule in trading, beginners should gain sufficient knowledge first before thinking on making profits from trading. Because trading is hard and difficult, so trading without knowledgeable in the first place will only end up into committing mistakes and losses. That is why trading is not advisable for beginners because they will only mess up in trading and waste their money and time knowing they never get the right concept in trading. Although trading is for everybody, but not everyone is expected to find profits and fortune in trading.

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Quote from: Cryptmuster on February 26, 2023, 05:43:29 AM

Quote from: Zilon on February 24, 2023, 04:32:59 AM

The worst way to trade is to follow candle sticks blindly, maybe enter a buy order because the candle is green and moving up or sell order because the candle is moving down and it is red. There are mechanisms that controls this candle stick and every candle on all the time frame tell a story of a long and short term trend. It is better to learn the act of trading than try things out using imaginations and expectations.

This is already more like gambling than trading, but this is a market and for someone to win, someone needs to lose. Probably all successful traders lost money before they started making money. Before learning to ride a bike, each of us fell repeatedly, so we learn something new. In order to succeed in something, you need to learn a lot, it's all too individual, and I believe that there is a desire, then you can achieve any goal you set.

I believe trading isn't always a win-win situation once you learn to trade it's not like that. There's always a time where you lose to a trade but what matters most is how much winning and profit you have. But of course, it's not that simple because you have to have an experience and knowledge of trading first before you get there.

Trading like gambling isn't gonna last long and it's fastest way to lose all of your funds. Unless, if you are trading to learn them you need to at least use the funds that you can afford to lose. Learn every possible strategy and make your own that would work when you are trading.

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Quote from: Vaculin on February 24, 2023, 06:18:02 AM

Beginners are free to trade if they really want to but we can’t expect for beginners to win over the market and make significant profits. They only trade mostly with greed, yet they still end up making mistakes and inevitable losses. The reason why beginners are not advise to trade even if they have high passion in trading. However, once they gained enough knowledge in trading, they can start trading but they should also gain more experiences too so they can hone their skills in trading and eventually make successful trades.

Trading with virtual assets is usually boring so many start trading real assets while learning. And if not to do it like professionals and to try to start learning with a couple of bucks or any amount you spend on entertainment and which is not big for the family budget it is both fun and educational. Of course couple bucks trading is totally different than a couple of million backs trading but as for beginning it can be not so bad IMO.

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Quote from: Zilon on February 24, 2023, 04:32:59 AM

The worst way to trade is to follow candle sticks blindly, maybe enter a buy order because the candle is green and moving up or sell order because the candle is moving down and it is red. There are mechanisms that controls this candle stick and every candle on all the time frame tell a story of a long and short term trend. It is better to learn the act of trading than try things out using imaginations and expectations.

This is already more like gambling than trading, but this is a market and for someone to win, someone needs to lose. Probably all successful traders lost money before they started making money. Before learning to ride a bike, each of us fell repeatedly, so we learn something new. In order to succeed in something, you need to learn a lot, it's all too individual, and I believe that there is a desire, then you can achieve any goal you set.

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Quote from: Sakanwa on February 20, 2023, 07:59:02 PM

Someone met me and we were had a conversation on trade and he told me that he has used all he has been saving for trading and asked me if he can make something out of it and I asked him if he had any knowledge about it and he said no.

That person actually set themselves up for failure. How do you dabble into something you don't have the faintest idea of? Was it because it's trading which is often erroneously believed to be an all comers affair? It's like going to fly an airplane without the requisite knowledge for doing that. You will definitely crash and die. No two ways about it. Trading shouldn't be treated with levity. It's a professional job and should be treated with the same respect we accord other professional jobs in medicine, law, engineering, journalism, etc.

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My question is can someone that doesn't have any knowledge about trading and how the system work can he or she trade and be profitable in it? Since at some points it has some compliments bof luck.

My above comment also answers to this 👆

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Quote from: Pandu Geddon on February 24, 2023, 11:21:35 AM

Quote from: Marvell1 on February 24, 2023, 08:09:55 AM

Trading is complex and unpredictable, if you just learn the theory without practice, you won't be able to get the full experience nor gain experience. So, in my opinion, newbies can still trade and combine knowledge at the same time, both practice and learning knowledge will help them absorb and learn faster.
I like what Kasabus said: when you are mentally, emotionally, and financially ready, you can start trading. Knowledge and experience will be created during your trading.

most beginners even try trading first instead of learning and understanding how trading is done in the market. but what you said is right, those who have studied with a lot of knowledge should also try to gain enough experience. some exchanges provide a demo account. it can be done for those who are not strong enough financially. but it's pretty good for trying to apply learned skills. but to get a more convincing sensation, trading with small capital can be done. trading will not always be profitable, and we will also sometimes lose.

It is best not to use a demo account because it does not give a real feeling, start with a small capital for the best experience. As a newbie, don't think about how much profit you will make but think about how to minimize the loss. I have a friend who is a forex trader, my friend once told me one thing, in the first 2 years, don't think about profit, but never give up every time you lose. What my friend said is correct, in the first years, I never made a profit, but after many years I was able to make a profit from forex. Trading is a long journey, to achieve success, we need to persevere, and not give up every time we fail.

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