Is trading good for beginners? - page 16.

virasisog

hero member

Activity: 1820

Merit: 537

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.

We've all became beginners in trading and we can say our adapted knowledge from different resources through our research will not be applicable unless we try applying it in actual trading. Yes, experience is necessary for is to learn more. Not all strategies and market analysis could be learned through self-study but they could be acquired from our trading experiences.
Trading could be for everyone but we have to keep in mind that not everyone could get rich or be successful in trading because not everyone could handle its risks.

John Abraham

hero member

Activity: 518

Merit: 547

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 trade and be profitable in it?

The answer is simple as hell. No. Trading is not rocket science. But, it's not easy as well. If you know that you cannot drive a car, why would you buy a car in the first place? You have learned at some point if you want to drive a car. So, why not learn how to drive first and then buy a car?

Well, you can learn how to drive even after you buy the car but who knows? You may hit your new car during the learning process. So, it would be better if you learn first and then do it practically. There are a lot of trading platforms available that offer demo balances to try their platform. Your friend should try them first and learn how to trade. When he will see that he is confident, he can try with real money.

Pandu Geddon

hero member

Activity: 826

Merit: 583

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.

lixer

hero member

Activity: 2688

Merit: 588

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 like sports betting because sports betting mainly involves knowledge and skills but if you will still lose your bets then it only translates that you don't have that little pinch of luck. Sports betting is a kind of gambling but trading can be like a gambling too if one will just trade blindly and won't learn the fundamentals of it.

As a beginner in trading I think this was still acceptable and we shouldn't think about the money and time that we spend with it or the ones that we lose. We shouldn't say that they are useless because how can we build experience if don't make a mistake? We even have the saying that mistakes are the best teacher.

Marvell1

legendary

Activity: 2408

Merit: 1102

Leading Crypto Sports Betting & Casino Platform

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

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?

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 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.

Vaculin

hero member

Activity: 2940

Merit: 613

Winding down.

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?

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.

justdimin

hero member

Activity: 3220

Merit: 678

www.Crypto.Games: Multiple coins, multiple games

Quote from: Cantsay on February 23, 2023, 12:39:27 AM

This doesn't only apply to trading but to every other aspect of life, if you lack of the knowledge of a certain things and then decide to indulge in it with the aim of getting profit from it without even trying to first get the knowledge that you lack you're only going to end up with everything gone. So if you or your friend go into trading without the appropriate knowledge needed the first thing that you or your friend should strive for first once you start trading is to gain experience and also learn how the market work. I know sometimes some newbies with beginners luck tend to do pretty well and because of that they feel that there's no more need to learn about it and at the end they'll leave with nothing in their pocket.
Op, you first try to get the knowledge needed for trading and when you feel you've acquire enough knowledge then you can start trading with small funds (the amount that you can afford to lose) and before you know what's happening you'll be a pro. But just know that you're going to lose tons of money before then but if you're able to withstand then you can make it.

Unfortunately it is the truth, there isn't anything we could do to make those people understand that it requires a lot of time and patience in order to study and be a lot better.

Most of the time the learning curve is a bit tricky on most subjects, you can learn more than most people in a matter of days, at most a few weeks, doesn't matter what the topic is, but in order to master it you should be able to spend months and months on it, and that creates the trouble, being better than almost everyone aside from masters, and yet not reaching that master level for so long, makes it harder to put time into it and just want to do it and test their skills, which ends up in a loss.

Zilon

sr. member

Activity: 966

Merit: 421

Bitcoindata.science

Can someone who has never learnt how to talk, walk or eat do any of this things. The answer is obviously no the same applies to trading. It is either one becomes a trader or a gambler in the market and there is nothing like little knowledge when it comes to trading. To succeed in trading it entails steady research and studying even when the foundation is solid.

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.

Kasabus

hero member

Activity: 2814

Merit: 576

DGbet.fun - Crypto Sportsbook

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.

Lida93

hero member

Activity: 938

Merit: 605

Leading Crypto Sports Betting & Casino Platform

Every legendary trader today was a beginner at some point, no one woke up one morning and became a good trader. So for you to excel in trading you have to give yourself to learning the basics of what trading entails, the psychological aspects of it and the analytical, for it takes much more than just working on candlesticks to making a good trader and for a beginner candlesticks can be deceiving and misleading with possible fake out trend(candlestick), that can lead to drastic loss at a go.

PX-Z

hero member

Activity: 1554

Merit: 880

Notify wallet transaction @txnNotifierBot

Quote from: Sakanwa on February 23, 2023, 05:17:20 PM

Well I appreciate your advice but what then do you think will happen if he fails after getting all the basic things in line and still didn't get profit does it mean that his not fully thought or what.

In trading even you knew the basic things or the pro things it doesn't guarantee profit. There are lots of unexpected things that may happen. What you can always do is proceed with caution and lessen the damage if ever price falls using stop-loss and many others.

samcoin

hero member

Activity: 1358

Merit: 582

Leading Crypto Sports Betting & Casino Platform

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.

Generally, it's impossible for a newbie to make continuous profit from trading. They might win once or twice by luck, but without knowledge, they won't be able to maintain the profit. On the other hand, if someone wants to join crypto currencies trading with no proper knowledge, they can hand their account over to an experienced trader through an API. This method is widely used in crypto, and I know some traders who make reasonable profit for others, then take their percentage of the profit.

Sakanwa

full member

Activity: 560

Merit: 141

★Bitvest.io★ Play Plinko or Invest!

Quote from: lovesmayfamilis on February 21, 2023, 06:55:45 AM

Can a person be a trader without a general understanding of the financial markets? Is your friend ready to make the right decisions, have an understanding of market trends, and have the ability to manage risk and their own emotions? Well, in addition, to having the ability to adapt to changes in the market, All this and much more do not come in one day; experience and long practice are needed, which bring both mistakes and victories. Of course, if there is interest, it must be thoroughly studied, but one must be prepared that many ravines can be encountered along the way, which ultimately destroy the desire to trade.

Well I appreciate your advice but what then do you think will happen if he fails after getting all the basic things in line and still didn't get profit does it mean that his not fully thought or what.

Botnake

hero member

Activity: 2856

Merit: 667

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?

Definitely, not good. Beginners will only ruin their trades and lose their money because how could they win their trades if they don’t have even the basic knowledge and skills needed in trading. There should be a thorough research and study at first, that will develop newbies to adopt the right mindset in trading, otherwise newbies will only trade just for experience and never for profits. Although it’s a good thing too as experience will make a trader improve his performance, but it would be best if you trade both for experience and profits.

Yamifoud

hero member

Activity: 2828

Merit: 518

DGbet.fun - Crypto Sportsbook

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?

To trade without knowledge is not a good idea but this never stops them from deciding it as long as they also wanted to do it. But what went wrong with your friend is that he take all his savings into trading, a wrong move from a newbie who never had an experience in trading. I would say that you need to stop him and educate him first. He needs to know the consequences of his situation because in this case, I see that your friend is too confident that he can make it all good without minding the risk. Yet, he should consider that since he is a newbie and besides, he don't have knowledge in trading.

sana54210

legendary

Activity: 3346

Merit: 1128

Quote from: Oshosondy on February 22, 2023, 01:54:30 AM

Quote from: PX-Z on February 21, 2023, 05:53:25 PM

Anyone can trade yes, it's basic. Beginners can trade too, but don't expect a win, profit, and huge profit more often.
Most traders losses, even a pro traders do, how much more a mere beginners where they doesn't know the technicalities, how to read charts, always use emotion when trading. Especially we are talking about crypto trading ha? It may look like easy but it could hurt a lot.

The professional traders too lose, even some of professional traders may win more often but find themselves having bad luck because that is just trading. But anyone that follows the right step have the more tendency to have an overall win than loss. Fir beginners, they can trade too, but they should consider themselves s beginners and they should use just little amount of money that they can afford to lose because they are more likely to always lose as they continue to learn and having more experience in trading.

Just by looking at 2008 we could easily say that not only they lose, they could lose in a disaster level as well. We are talking about 800 billion dollar bail out, you know what you can do with that much money?

It is said that it was a "loan" that got repaid in 10+ years, but if you gave 800 billion dollar loans to people, they would have repaid it back eventually as well, that is not the point, or even if they didn't, that would have been money in the circulation helping people, instead of banks getting the money and the houses and then repaying eventually that way, made no sense at the time. So all in all, we all know that professional traders make a mistake too.

gabbie2010

sr. member

Activity: 2842

Merit: 326

Vave.com - Crypto Casino

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 trading is that easy every trader would have been a millionaire now, trading by mere watching candlesticks movement is more or less like gambling there are other analysis that needed to be acquired which includes candlestick patterns and Price Action in order to have an edge over the market, there is much knowledge and skills required to become a successful trader and this goes with good numbers of years trading to become consistent in making profit, therefore it's advisable to let that person know the risk involved in trading without any prior knowledge to avoid rekting the fund save for trading

nara1892

hero member

Activity: 1792

Merit: 728

Quote from: Quidat on February 22, 2023, 04:22:29 PM

Quote from: nara1892 on February 22, 2023, 04:01:31 PM

I like the way you described what the OP was talking about, it's a very good yet simple comparison that can be easily understood. I still can't figure out why there are so many beginners who are braver than someone with experience, even if they don't have the knowledge. I don't know what was in their minds so they could do something they didn't even know what they were doing. Trading is not that simple, not just making entries and then taking profits, but there is a lot to learn, starting from understanding what trading is and something more complicated than that.

Because simply they are really that letting that greed inside them tolerate it out which they do believe that they could make themselves that rich out of trading.Yes, its possible
but it wont really be that good if you would really be having this kind of mindset on which would really make you that desperate or really in rush.We do know that trading isnt
something that you could able to bare and handle it out on few tries or on shortest time as possible.Sooner or later you would really be able to realize up things
that not how these things do works.

This indirectly returns to the mindset and stigma they have set within themselves.
Actually, seeing from this condition, it is really naive to keep thinking that this is an instant thing, but there are still many who do things like this, which actually backfires and it's like they are digging their own graves.

Indeed, in this case learning and trying is a good thing because experience can be gained from it, but in the condition they try without knowing the basics, this is not trading, but gambling in the hope that their instincts are really strong and win in that choice.

Russlenat

hero member

Activity: 2716

Merit: 904

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?

I guess it’s always a choice if you want to trade with no knowledge and skills in trading, as anybody is free to do trading as long as he want. But most likely, you will only trade to lose so it’s a disadvantage on your part. That is why beginner traders should gain first hand knowledge and some working strategies before they start trading, because trading is never easy and is always risky if you insist random trading. Besides, even professional traders still lose their money in trading, so how much more for a beginner who has no experience at all.

YOSHIE

legendary

Activity: 2128

Merit: 1775

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.

@Sakanwa, trading methods on the crypto market have many loopholes and ways you can do them, such as: Futures, Margin, daily, minutes and so on, in essence: return to yourself and include your trading knowledge, my advice, don't trade before you master a few things about crypto trading science, if you insist on doing without trading knowledge, just wait for all your money to lose in the online crypto market.

Considerations for beginners in the world of crypto.
* Make investments in the long term for beginners, before you master the science of trading, investing is lower risk than trading.

Topic: Is trading good for beginners? - page 16. (Read 3014 times)