Is trading good for beginners? - page 19.

rhomelmabini

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Quote from: Sakanwa on February 20, 2023, 08:59:02 PM

My question is can someone that doesn't have any knowledge about trading and how the system work can he or she trade.

After been told it just for them to choice on the candles sticks if it's up the they want to choice 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 sure person to begin trading?

He/she can trade but winning on those trades would probably be out of a sheer luck. Everything starts as a beginner and it's apparent even on geniuses but on trading with no prior experience would be a fool's idea to burn his portfolio. I've been there and it was an expensive mistake thinking I have it all to be a great trader but end up losing all of it in just a day thinking I have what it takes to trade especially on leverage trading.

Remind him when you meet again that he probably need to have knowledge on it or else it will be his huge mistake. This is from my experience and I don't want anybody else to feel that way, it's not for the faint hearted.

AakZaki

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And let me guess, he must be trading in Futures or two-way trading which looks very easy to implement and looks easy to profit from. Just guessing up or down and that's it.
Of course beginners like this will lose more of their money and it won't last long. When he said he didn't know about trading science, he was just trying to trade like a gamble, because there was no research or analysis whatsoever. Just rely on luck.
You as a person who knows this, it's good to give good and correct advice, because the decisions you take are very risky and you will definitely lose everything.

sujonali1819

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Quote from: Sakanwa on February 20, 2023, 08:59:02 PM

Some meet me and we were have conversation on trade and he told me that he has putting all he has been saving in it 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.

After been told it just for them to choice on the candles sticks if it's up the they want to choice 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 sure person to begin trading?

Without a piece of proper knowledge about trading, if you do it, it looks like you are throwing your money in the water, maybe worst than it. People with good knowledge even do big mistakes. So there is not a little good stuff in trading if you don't know it. It's always better to work in real/physical life maybe this will give you a little money but you will not lose all of your holdings

Market conditions are not well like 2017-2017 when people without trading knowledge just invested in a coin and hold it, and after a few days, they got huge profits. But the scenario is now totally different.

jrrsparkles

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Quote from: Sakanwa on February 20, 2023, 08:59:02 PM

Some meet me and we were have conversation on trade and he told me that he has putting all he has been saving in it 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.

After been told it just for them to choice on the candles sticks if it's up the they want to choice 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 sure person to begin trading?

Without knowledge, its impossible to be successful as s trader for over the period of time so tell him to learn about trading and aspects of technical as well as fundamental analysis then start doing it with 100 dollars and let him to decide whether he can continue or not.

Trading the platform also plays a vital role and with zero knowledge there is possibility of depositing to fake website which is complete replica of reputed exchange or something completely unknown.

_BlackStar

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Quote from: Sakanwa on February 21, 2023, 09:40:22 AM

-snip-

The crypto market is never as simple as your friends think, meaning they can lose their all budget because of a small mistake. I don't know exactly how your friends make profit in the market when they don't understand how the market works. I guess he's just gambling on volatility.

Even if he could also make a profit, but basically it was just luck due to volatility. Tell him trading crypto isn't that simple, and he needs to have the knowledge to do it ^{[if he doesn't want to lose his all budget].}

Sakanwa

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Quote from: xSkylarx on February 21, 2023, 01:15:08 AM

You should advise your friend that while he is saving, he should learn on the way because he is saving money to lose as he has no concrete plan on how he can earn profit from it. For sure, he will just deposited it and guessing the price on where he trade without proper strategy, and he will end up losing his couple of months' savings. Though he can do copy trading, but for sure, he doesn't know anything or what's going on if he puts his money on it. It is really best to have knowledge first, even if you already have money to invest because you'll end up losing if you don't have knowledge of trading.

Thanks for the piece of advice I really appreciate everything you guys have told me and I will make sure he learns how the trading system process works.

Once again thanks for the advice my lovely people.

Oshosondy

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Quote from: Sakanwa on February 20, 2023, 08:59:02 PM

My question is can someone that doesn't have any knowledge about trading and how the system work can he or she trade.

Advice him to just hold. Tell him to take an amount he can not afford to lose, after taking the amount, he should not put more than $20 to $50 to be learning how to trade. Some people may not want to agree, but in reality, trading risks is similar to gambling risks. For beginners, trading can be dangerous than gambling. The money he make after many months from that little amount of money used can determine if he should trade or not.

He has a lot to learn if he wants to be a trader. Three of which are most important are risk management, having good strategies and also learning trading indicators.

tvplus006

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Quote from: Sakanwa on February 20, 2023, 08:59:02 PM

...My question is can someone that doesn't have any knowledge about trading and how the system work can he or she trade...

Trading, like any other profession, requires special knowledge, without which your efforts will be in vain. Or do you think that a beginner can trade without knowledge, but at the same time cannot be a doctor without having special training for this?

DiMarxist

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Quote from: jostorres on February 21, 2023, 08:21:32 AM

Quote from: bakasabo on February 21, 2023, 04:23:04 AM

If a newbie should avoid trading, what should he do then? How can you learn without trying? Anyone managed to learn to ride a bicycle without riding it? I dont believe in that. Newbie should or must trade, but he should start with a little deposit. You dont need to have a doctors degree to be able to understand buy low sell high strategy. I think that beginners should trade with little deposits and with low profit expectations.

Well, there are a lot of ways to earn money here in cryptos not just in trading. If one avoids or doesn't like it then they can always do investing. There is also staking, lending and maybe gambling? Though this one is a little bit riskier than trading but if you have a good skills, experience, and knowledge especially in sports betting then it could work similar to trading.

If one has a passion or interest in trading then they need to try and keep on trying. If they successfully overcome the hardhips of it then I am sure that they will be a good trader in the future. It make sense to start with small as a beginner because they have no or limited knowledge available.

It's possible because some people learn fast and some are looking,when they at how trade earn money,they will do it and she/he will profits more than you and he /she haven't learnt it before.but just for eye looking she/he capture it and start to do it. And some people when tell them with with your mouth, they heard it and put in mind and start to do it,and when see them and ask them, they told you that you have already told what to do how to start and you will be very surprised.and there are some people learn fast in a day, there are some that takes them a weeks,there are some that takes them a months,and there are some that takes them a year.etc

Questat

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Quote from: Sakanwa on February 20, 2023, 08:59:02 PM

Some meet me and we were have conversation on trade and he told me that he has putting all he has been saving in it 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.

After been told it just for them to choice on the candles sticks if it's up the they want to choice 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 sure person to begin trading?

It seems not to work as he wanted it to. We can't disclose the fact that trading knowledge is very important in trading. If we wanted to succeed and earn a profit, we should invest time in learning how it works. Newbies could start trading but I don't encourage that to anyone, it was still in the best position to have at least knowledge about basic trading and gradually improve it. But in the case of your friend, as he put all his savings into this stuff, that is definitely not a good idea. He instead start for small amount while still the process of learning, it is too risky for his situation as a newbie.

jostorres

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Quote from: bakasabo on February 21, 2023, 04:23:04 AM

If a newbie should avoid trading, what should he do then? How can you learn without trying? Anyone managed to learn to ride a bicycle without riding it? I dont believe in that. Newbie should or must trade, but he should start with a little deposit. You dont need to have a doctors degree to be able to understand buy low sell high strategy. I think that beginners should trade with little deposits and with low profit expectations.

Well, there are a lot of ways to earn money here in cryptos not just in trading. If one avoids or doesn't like it then they can always do investing. There is also staking, lending and maybe gambling? Though this one is a little bit riskier than trading but if you have a good skills, experience, and knowledge especially in sports betting then it could work similar to trading.

If one has a passion or interest in trading then they need to try and keep on trying. If they successfully overcome the hardhips of it then I am sure that they will be a good trader in the future. It make sense to start with small as a beginner because they have no or limited knowledge available.

lovesmayfamilis

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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.

Johnyz

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Quote from: Sakanwa on February 20, 2023, 08:59:02 PM

My question is can someone that doesn't have any knowledge about trading and how the system work can he or she trade.

Yes they can trade, but expect them to lose money right away.
Becoming a trader is not easy, it will take a lot of time before you call yourself as a real trader, so as a beginner its your job to learn more and know how the market works, you should not trade if you still don't know what to do not unless you can afford to waste money. Trading is good but for beginners, you should go through the process.

Adbitco

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No one can venture into trading without intensive training or mentoring to know how the cryptocurrency market or forex market works. I just wonder why one could used his life savings into trading without adequately get routed into trading. However, beginners are not meant to just jump into trading without starting with at least Demo account this would help to position and enhance their trading skill before finally funding their account to start full time trading.

tbct_mt2

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Cryptocurrency market is cruel and it's not easy to start with investing or trading. You need to have strong mentality and good discipline to invest and trading well.

With trading, you need to have good knowledge about trading technically and must be very disciplined to close your positions when market looks risky and move oppositely with your thought. Trading is not easy for newbies, junior and senior because not many traders can gain profit in long term.

In a summary, investing is better than trading is my lesson.

mu_enrico

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Trading isn't a hobby, so if your friend is just using his spare time to trade, better stop and just put his money on mutual funds. If your friend truly has an interest in charting and stuff, then it's fine to put in more time. Every pro was once a beginner, so yeah trading is good for a beginner "with packages" e.g. serious, determined, good at math, etc.

bakasabo

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If a newbie should avoid trading, what should he do then? How can you learn without trying? Anyone managed to learn to ride a bicycle without riding it? I dont believe in that. Newbie should or must trade, but he should start with a little deposit. You dont need to have a doctors degree to be able to understand buy low sell high strategy. I think that beginners should trade with little deposits and with low profit expectations.

Jawhead999

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Any newbie should avoid trading at all cost except they have a good emotion and wouldn't blame the asset when the price doesn't follow like his prediction.

Even you've learn about candle stick, trends, scalping, trading bot, copy trading and self pro claimed professional trader, there's no guarantee you will make money. Experience is really important in trading, it's need trial and error, also need to accept huge losses in order to learn.

Most people can't able to survive and they're high likely move to shitcoins.

TheUltraElite

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In my opinion someone who has zero experience of trading on any speculative market but claims to make money easily through trading is trying to fool the person in front. Those who have been trading for years know how the market works but not newbies.

You should not trust this person unless you verify yourself their claims. Chances are the person is a scammer attempting to fool you into giving your money.

If this is someone in real life, verify. If this is some internet username, then block them.

LogitechMouse

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Trading can be done by everyone, but it isn't for everyone.
Only those who can handle the losses, only those who can wait for them for a long time before they will be profitable.

Is trading good for beginners? Professional traders started as beginners as well right? I mean what kind of question is that. As we start trading, we are all beginners already. As you have that experience in trading, overtime you will not be a newbie anymore. Maybe change your question to "Is trading good for people who don't have knowledge at all?" That would be a better question.

Trading without any knowledge is like having a quiz without any knowledge regarding that particular topic, and you will fail miserably. If you don't want to learn first, just don't try trading at all. Even those who are trading for a very long time are experiencing losses still. Go try demo accounts in different trading platforms such as Binance since they have one. Instead of putting your money into trading, at least put your money into yourself.

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