Topic: Is trading good for beginners? - page 2. (Read 2996 times)

it's true that most of those who lose on trading are those who trade with the wrong mindset, where they enter the market without good knowledge and they play with high leverage. they think that trading is very easy and anytime they can make money from it, but unfortunately what happens is that their trading plan is wrong and in the end they lose big from it.

Knowledge leads to make a good earnings, it applies to most venue of investments and businesses, the more you engage yourself and the more you know how things works the better opportunities that opened for you to succeed, it's not just an easy access to make a fortune but with dedications and focus it's acheivable to most who really wanted to have a good success from their chosen venue of investment.

Trading is for those who wanted to have a continuous learning and not jsut for those who wanted to have a short-cut to make money it can turned the other side and instead of making money, you'll lose a lot.

Right which means we have to admit that the presence of a demo account really helps us, especially beginners who are still in the learning stage or the adaptation stage with something new they see, they can use a demo account to learn about the basic concepts of trading as well as how to use some features to help analyze such as indicators or others, because obviously if for example as you say which if a beginner has to really start the learning stage completely from scratch without any idea then obviously it will be very difficult and take longer, even just to learn the basic concepts or nature of the market, not to mention other things that are much more complicated. But overall the demo account will only be useful to give you the understanding and knowledge that it is the market with its various properties and fluctuations that you will trade when you have entered the real account, because the real experience is when you have entered the real account where you trade with real money and you will feel a lot of pressure on your mental and psychological because of the fear of the risk of loss.

No it not the right time for such person, he should be more patient to learn from scratch to advance before he ever think of risking his money.
Lol, it's funny how most persons think they can make money off the market without having a solid knowledge.

As far I know Knowledge comes before one can earn when it comes to trading or any skill at all. What you have to do is to guide him till you are satisfied that he has assimilated everything been taught. And he should also know that trading is about being patient and discipline, and not a quick money making scheme.

He  can also  apply for Mentorship programme, were he will be guided, and be with the right community to sharpen his knowledge.

The selling is subjective thing and may vary from person to person. It's not necessary that you sell your Bitcoin's in every bull run, if you do that then you are surly missing bigger piece of cake. The first thing in Bitcoin investment is to get your desired number of Bitcoins and then you can think of selling your bitcoins. There is excellent tool developed by Bitmover that is based on JJG (JayJuanGee) Sustainable Bitcoin Withdrawal Strategy, the beauty of this tool is that it tells you how much Bitcoins you can withdraw.

https://bitcoindata.science/withdrawal-strategy

Patience is very much necessary and if one says that he has patience and he doesn't think about ups and downs then it is also wrong thing because for getting profit it is necessary to look towards the market chart so you can make decision according to the market and your target.

It is important to wait longer in case of bitcoin investment but it will also be profitable if you sell your bitcoin during each Bull season and then again wait for bear season to accumulate more so you will be more profitable by adopting such techniques.

Yup, the real money should come with real cash and trading. Those paper trading or demo accounts are purposely made for testing them and for the newbies to be familiarized with how trading works. If someone starts out of nothing and literally from zero, it will take time for them to understand the whole concept of the highly volatile markets that they're trading such as with the crypto market.

Patience is the key to success in trading and sooner you learn this skill better it is for you. If you see previous price chart of Bitcoin then it's very much clear that real benefit comes if you invest and wait for longer duration. There are not many success stories of short term investment because of price volatility of Bitcoin. The simple rule for success in Bitcoin investment is not how much you invest but for how long you are willing to wait.

If the experts are still trying to get earnings, especially the novice traders who enter this cryptocurrency, It seems like it's just common sense; even those who already know trading still make mistakes, especially those who know little.

That's why it's still important to study somehow so that we have knowledge and understanding of the actual trading activity that we will do. But if you're just starting out, it's not really advisable to jump right into the actual trade.

The concept is that we must understand that trading does not always produce profits and it is no exception for people who are experienced. The difference is that people who are experienced know how to restore losses in previous trading so that they can run trading in a simple and easier way to control. Trade does require knowledge so that people can avoid the risk of excessive loss and knowledge will give them a much better picture of trade.

There is no successful trade because it depends on the guess and not the way to get involved in it. Trading will be much more risky if someone does not have knowledge about it. Therefore, before trading people should learn the right way so that they have the right way to be involved in trade.

That is a way to avoid losses for people who do not have knowledge about trading. Starting trading in small amounts of money makes them much better prepared to face the risk of loss and they can learn to develop trading skills if seen directly. A beginner must have the ability to avoid greed and emotions because it is very important to pay attention.

Before trading a beginner needs to have a basic understanding that trading and earning profit is not an easy thing. In your statement you clearly mean that people fail in trading due to lack of knowledge yes it is correct. For trading you need to educate yourself in previous trading education and gain enough experience about trading then start trading. If one does not know about trading and gets greedy and trades in the hope of making profit, then he can sometimes end up in loss. You will find that there are many new traders who trade by watching others or guessing but they have no experience in trading. Those who trade on the advice or guesswork of others have never succeeded.

If beginners want to start trading then they should start with a small amount of money so that even if they lose that money they don't incur huge losses. Market volatility and market analysis need to be correct before trading. Beginners need to have the mindset to deal with greed, emotion and stress when trading.

Everyone starts on being a noob and just like we do know that everyone cant really be an all-knowing kind of being on which they would really be directly be knowledgeable into a particular thing specially into those thing that they are getting involved with. Once you are a noob then you would really be normally be passing up into those losing conditions or moments about getting those mistakes on which we know that this is something very normal.
Its true that you wont really be that become a professional if  you wont really be tending to go or learn with your own. Of course it would really be that just part on having those loses along the way.

As the time that you are already gaining up enough experience and skills then this is where you would really be seeing that you are really that progressing and this is something that will be resulting into that good
percentage when it comes to profitability. Everything would really be just that depending on how well you do make up some trades because if you cant be able to adapt or simply being versatile
then you would really be having a hard time on handling up yourself towards this market.

Trading is not a way to get rich instantly which is usually in the mindset of some people where I am sure that there are some beginners who come because they feel tempted and interested in achieving success like what some traders who are now successful have achieved, meaning the same as you build a business from scratch where you have to learn slowly about everything related to the world of trading especially something that can be done and something that should be avoided. Success in trading is not entirely dependent on luck because after all, your success depends on how hard you struggle to learn everything to gain a lot of experience that will make you know about various methods or strategies and also that will make you know about what to do and what to avoid.

That's right, patience plays an important role in the world of trading, you really need to apply patience in various ways such as in the learning stage and also in terms of decision making when running trading sessions, because usually in some cases there are some traders who enter in a hurry where they make decisions at the wrong time which ultimately makes them end up with losses, and also we need to have many other skills such as eliminating aspects of greed, and always prioritize risk management, because the hardest thing in trading is when we have to control ourselves and thoughts.

Indeed, learning the process and keeping all the knowledge that you gathered while you are investing small amount of your money,  there's no instant benefits or something that would change your life not unless you become lucky and manage to invest with a certain hypes but on the regular basis,  trading is a business where patience is needed,  not good if you have that greed inside you but if you have that capabilities to handle the pressure there's always a big chance that you'll be able to generate pretty decent benefits,  more on handling the risk and the potential as a beginner.

I understand that a demo account can be used as a place of learning for a trader who is still a beginner or those who are new to the world of trading, but still what must be understood is that a demo account will only be able to give you nothing more than an understanding of understanding how all the features provided work and also only give you an idea that that is where you trade, or simply put it is a demo account will only be able to give you learning related to how to use and how some of the features provided such as indicators or simply put again a demo account is a place for anyone to adapt to something new they see.

In the end, as you said, the real experience is when you dive into the world of trading using real money where you will feel different mentally and psychologically and all of that happens due to worries and tensions for fear of losing your money. This means that learning about the world of trading is not just knowing how to trade properly and not just having a strategy, but there is still something else that is no less important, namely mental and psychological readiness in terms of accepting the consequences of loss, which in some cases a trader is usually trapped in his own emotions which of course is very likely to affect their mental and psychological in terms of decision making. Another thing is yes as you said that the best advice is to have an approach that does not exceed our abilities, one of which is like in terms of allocating the amount of the budget, try the amount that we can be responsible for.

If a beginner doesn't try to trade they'll never become a professional trader. All professional traders started from beginners therefore beginners don't have to be discouraged from learning how to trade. What beginners should be discouraged from is trading through future but for spot trading, every individual that have learnt how to do it can begin trading. I'm a beginner in trading and I'm still learning how to trade from my mentor. As I'm learning I'm already practicing and winning but not all the time. Trading can be be done by everyone that has an interest in learning how to trade therefore everyone can become a trader. A beginner can use training to make money that he can use for investing and doing other things that he feels like doing. Trading isn't very hard to learn therefore before we begin to trade we should learn everything about trading from a reliable mentor.

While there are techniques that give you an overview of trading without investing any money like paper trading. But it's important to understand that real experience comes when you jump in with real cash. So one can't learn trading without investing money and its also impossible to avoid loses at very beginning. The solution to this deadlock is start with small amount or something you can afford to lose. Don't jump in with huge capital. 

Look, everybody started out somewhere, why do you think that someone who first got into trading was smarter?

That means he made the wrong decision because he started trading without having the right knowledge and my advice is that he should stop before finding the right knowledge about trading and if he continues to force it then it is feared that it will make him lose.

There is no chance for him to make a profit when he trades without knowledge because he doesn't know what kind of trade to make and how to deal with pressure when the trade he makes doesn't go according to plan. Trading that involves guesswork is not a good option because no one has been successful in trading relying solely on guesswork.

It is best for him to start learning trading first and if he has been involved in trading before then it will be much easier to learn. All that remains is to develop better trading skills so that he is better prepared for trading.

Obviously, trading isn't for beginners. But how can the beginners trade if they're not going to try, right? And that's why if they're going to try it, they should be aware that it is not going to go accordingly to what they're thinking. And as usual, they should expect the least with their trading results because it's not the perfect thing the newbies can do. Most of you guys will fail and just as we when we've started to trade. That's fine, the learning experience is such a great gain and your mind is also upgrading because you're able to take more risk.