Topic: My experience as a beginner trader - page 9. (Read 1685 times)

Don't get me wrong, I'm not saying they should have the mentality that they will lose first but rather have it in their mind there are possibilities of them losing  and that doesn't mean  they  aren't competent they just have to work on their skill.

Not totally the best. Thinking about losing first is a negative mindset. We rather lower our expectations at first. A beginner can get lucky and earn even without or with less knowledge on their head. Quitting is an option if it seems that everything that you do doesn't bear a good result.

Maybe there are times that we can lose in trading and we can say that we are simply unlucky but I think most of the times trading has to do with our ability. Some newbies are indeed joining some trading group and some are using a copy trading service only for them to earn quickly. Many of us are against with these practices because they are only depending on others.

My experience as a beginner trader is
I don't know how to read candles, I'm always burning money haha ​​I'm also always at a stop loss most of all I don't want to trade anymore because I don't have any money to trade and then I just tried really hard to learn how to do it somehow my trades almost win

just do it you must have a trading plan and then you have discipline in trading

Well said. If you are no longer comfortable from consistent losing in trading, then quitting would be the best option as it could pave way for a new successful career that will let you feel satisfied with your current compensation wherein trading has fail to offer. Sometimes, it’s better to end than to prolong the suffering you experienced from unwanted career, that way you will have chances to improve your means of living. This is one of the reasons why trading isn’t for everyone.

I remember I was terrible when I first started, I was literally picking things that would go down right before they do, I was basically very good at finding coins that will drop at that point lol. I think I misunderstood something, and instead of finding things that are just about to go up, I did the reverse because I misunderstood the situation and picked the ones that were just about to drop.

I made so much loss that I stopped trading for years after that, I jut bought bitcoin and hold it, which is something I still do, most of my money is still in holding bitcoin. However, I realized my mistake long ago and I have been trading a bit as well, and the results are not suddenly amazing, but they are not that bad neither.

You have given very good suggestions for new people to enter in trading platform.Of course, whatever business a new member enters, if he does not have experience and starts without learning, he will surely face a loss.Every kind of business needs to be learned and understood before starting.Trading is a tough job, it looks easy but this is the cryptocurrency market where the market fluctuates and the market can fall at any time.Here we can also get good profit but our money can go to loss at any time.It is very important to know about candlestick, graphic chart, support and resistance and different types of indicators.There are various online platforms for all these things from where one can easily gain knowledge and experience about trading.You are right that one should start trading with small amount in the beginning so that there is no risk of losing much in case of mistake.However, there can be both profit and loss in trading but we have to improve our profit rate with our experience and skill.

A new member needs to know a lot about investing. If a new member enters the business without knowing or learning about investing, he will definitely lose his money. Besides knowing and learning in the first stage, trading should be done with such amount of money that you will not know your profit or loss by trading, a new member should trade with that amount of money only to improve trading skills. In new situation if we want to start trading without learning and knowing first then we will not understand anything about the market only we can take trading on guess which is very risky for our money. So first spend time learning and then apply that learning to trading.

The whole trading is just a process. Even if you start making money, you don't stop learning or analyzing the market. That's why when you tell you already get there, then you will start to lose again. So instead f quitting, just take a break. Desensitize yourself of how much persistence and hardwork will it take to be successful. This career is only for the brave. For the strong sould who can dedicate years for the skill aquisition until making money take care of its own.

When trading, we can't start as experts but the more we trade is when we'll get the experience that'll help us become professional traders and by then we won't be making the newbie mistakes we're making now as traders. Losing when trading can be frustration but we should try not to get frustrated but use the lesson learnt from the losses to improve on our trades and become a better trader. Before we start trading, we should have an understanding about the market.

When any individual is trading, they shouldn't be guessing but predict with reasonable backing from understanding what the charts are saying and follow up the market regularly so they won't make a mistake. Trading isn't easy but with constant practice, we'll become better.

Don't be so hard on yourself, just because you are a beginner in trading and are still learning doesn't mean that you need to lose money. You are absolutely right that at first it's all about gaining experience and learning the basics before we should focusing on making high returns. But already as a beginner you should focus on the decision making that more experienced traders rely on. Getting out of a trade because it's losing money might be a good idea, however you should analyze first why trade is losing money. There is a difference between making the wrong judgement call and having a general downturn in the market. As a crypto trader I would always compare your position with the bitcoin price. For example, if BTC drops 5% in a week then it's very likely the Alt coin market drops as well. That's why selling your position and realizing a loss might not be the best decision. In case you don't need the money right now you could try and holdout for the market to recover again. Beginners also deserve to make money with their crypto coins.

Yes trading in the crypto world does seem simple, just about selling and buying and then with a little holding so that we can make a profit there. But behind that I also admit that it is quite difficult to do, in the past when I was a very beginner, I honestly felt very difficult, especially in the matter of making decisions, and I understand all novice traders must feel the same way including you too. In addition, here I will slightly suggest to all beginners including you too that being a trader I admit is very difficult, and there is no free time not to learn anything, market price movements are very volatile, so as in general we must have a proper and good trading plan. Such as stop loss so as not to experience too much loss, take profit when it reaches the daily target and also other risk management.

But in my opinion and according to my personal experience, more important risk management is within ourselves, I mean we have to form boundaries within ourselves, you can train yourself mentally and psychologically because it is very important for traders, learn to make peace with yourself for the decisions we make, especially when experiencing losses for the mistakes of our decisions. Honestly, it will be very useful, because everything that is based on greed or lust will never work, we can see that there are so many traders who experience MC because they do not emphasize risk management properly in their trading. In addition, use your own methods from your own learning, never give up and one more thing I do not advise you to depend on other people in trading such as following some unclear signals, because surely you will find it difficult to develop, I see the average successful trader they have their own way of doing it.

To be quite honest, I don't have a lot of experience in this area of crypto trading. I won't deny that I'm still a novice in this area. I still don't really comprehend a lot of this cryptocurrency trading stuff. Yes, buying and selling is simple, but when it comes to reading charts and graphs, my reading comprehension skills might use some improvement. My foundation is currently pure speculation, and what other people say is an opinion.
Because of this, when I first started trading, I exclusively did holds in order to always play it safe while I was still learning the ropes.

Mentality and emotion is a strong character that a good trader should possess. These two grows together with experience and that is why most newbie traders don't have it because they have no experience. It takes string will to make good decisions when your portfolio is on the red lane. Every decision an amateur trader will make at that time will be characterised by fear, panic and uncertainty. This is the reason I have strongly believe that trading is not for everyone. Many people are losing trade more than they are gaining and the new traders are the ones losing most.

Let me add this as part of contribution  I think we need to stur this a little bit up. Okay. Let me add this Those trying investment can still trade why?? Simple they just need to learn to some extent when I mean extentthen I'mtalking about confidence level.

Experience and expertise is not being birthed along with someone we learn it and if you seek those with such experiences they tend to be even worse sometimes than what you want to table as your experience .

So Anyone can trade aswell as invest besides you can still lose your money while investing because you have no proper knowledge  about or even experience,.
Let me use the case of programmers as an example  everyone wants be able to write and read codes right , however some do this with ease asin they pass through the learning stage easily  but most people struggle  to become what they dream of as a programmer,programmers in the house would understand this,we only just determine and we trust the process that we will come out strong and that's why you  see most people backing out, fine it might not be covenient and they feel like it's not for them but do you know that there's always someone in that same state as his/her's whom trust the proceess even it took long but attain success atlast.
Back to trade, I understand  the case it's emotions they make you feel like it's not for you when you make  profit and later you eventually lose
both tour profit and capital  talking out experience it's crazy enough for a beginner to back out immediately that's the fact

Inconclusion trading might be a superb choice if you trust and you are willing to learn out of the process, remember  investment also requires skill . Investment is also a good choice in general intact the best if you trust the process.

Depend with beginner trader or not, in cryptocurrency trading need strong mentality actually when moment our coins assets in lower price, actually with beginner have experience after investing price drop suddenly and mentality here most important thing how easily quit from trading or keep stay and learn from mistake for upcoming time.
Firstly, trading is not about how to understand well with knowledge and learn with some coins want to invest but we have mentality or not what happen later after investing, many trader haven't strong mentality and easily give up when get loss position in trading.

Trading is actually not for everyone, many people try again and again but they are not successful in trading, they keep losing in the market. Losing in trading is very painful and I have experienced how painful it is.

Even if you think about learning from each mistake and doing better on the next trade, it doesn't end in reality, you will be exposed to new situations again and again so that previous experience will not always work.

So it will be more effective to try to learn about the market better than to learn from mistakes. Because your trading skills will let you know when you are making mistakes, you will be able to make better decisions. So if a trader keeps making losses in the market and after trying everything he can't succeed then he should stop trading and look at holding, because as I said earlier trading is not for everyone here maximum people lose.

Trading is not easy and I can feel your pain, as all have started from zero and without any experience. But the main thing that is important here is that, we need to learn from our mistakes. We should do enough research and educate ourselves with the market. If possible trade with demo account with demo balance to lose the fear of market. Once you are confident, invest or trade with the amount that you can afford to lose. This is the best thing, one newbie can do at the initial days.

I completely agree with you. Trading without proper knowledge and understanding can lead to significant losses and can be a waste of time. It's essential to start with the basics and build up from there. Rushing into trades without adequate knowledge and preparation is like gambling, which is not a sustainable approach for a trader in the long run.

Many new traders quit trading because they were unwilling to do the necessary work. Consistent profits require time, effort, and patience. Moreover, managing emotions is crucial for success in trading. Emotions can impact the risk level, leading to significant losses and feeling overwhelmed.

It's important to remember that there is no guarantee of success in trading. Many traders may become discouraged if they don't see immediate results. However, giving up too soon is not the solution. Instead, one should continue to work hard, learn from their mistakes, and be patient. Success in trading requires knowledge, discipline, and perseverance.

Something that encourages beginners to do that is because they think only about profits at the beginning, the same goes for gambling. Maybe people who are aware of the risks in gambling, they only gamble with the aim of having fun, and in contrast to those who think about winning, they will put aside all the big risks.
Actually, we cannot say that those who trade without knowledge are wrong, because we know the reason they do that, namely without any knowledge and maybe they don't know what the risks are. They need to be guided and directed to the right path. And I am a person who believes that a beginner trades because he sees other people, especially influencers who only show profits.

You got me wrong. I am not saying that only 2/3 trades that you made either it is based on calculations or just a gamble will determine the whole thing. All I am saying is, know your limit. And the thing I said in the end sentence is "Only invest what you can afford to lose". That way even if it is a gamble or calculated trade, that loss won't affect your daily life and your emotions. Trading is about both losses and wins. You may win a trade after gambling your way through it, but then next one may not work. Same with calculated trades. You may end up with profits but that strategy may not work the next time. But if you keep loosing continuously after that, you need to know your limit and stop. Then you can find the mistake that you have made and correct it.

But if you continue your trades without stopping, you may never realize that and keep on making the same mistake over and over. Knowing your limit does not mean you should stop there and give up. If you reach your limit and still not doing good, you need to change things up a bit. Even after that, if you are not capable of solving that mistake, then it's time to move on to something else. This is what I was trying to say. I may have got mixed up in my own words. But I hope you understand now.