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Topic: My newbie trading experience - page 5. (Read 745 times)

legendary
Activity: 2996
Merit: 1054
Leading Crypto Sports Betting & Casino Platform
December 04, 2021, 06:50:06 AM
#47
I must admit that from newbie up to now? i am a Trading loser  Grin I don't know i really have no luck in finding Gems here in crypto market, yes i am sometime successful and sometimes a failure but never did find something that will change my days ,
i remember one project that i invested , and yes become successful even reached the Market Cap, but  ending being scamming lol.
thats why Nowadays i am very choosy in taking risk,  i only choose those given  by good trader friend and saved me from continues losing.
legendary
Activity: 2086
Merit: 1058
December 04, 2021, 04:29:51 AM
#46
What is the solid analysis that I can lay my hands on I need some recommendations.
RSI and moving average cross over, Fibonacci retracement are few effective strategies along with pivot point analysis or candle stick patterns. You may need to go through video tutorials to find out which analysis is suitable for you and your coin. In my opinion, all strategies are effective and in effective time to time hence not relying just one strategy will help traders for avoiding big losses.

You need to spend lots of time for finding and learning at least 5 different technical analysis and then you must spend 2x time on practicing those strategy on live markets with small capital. Then you may get clear idea on what to do and what should be avoided.
hero member
Activity: 1022
Merit: 667
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December 04, 2021, 03:51:35 AM
#45
That's a great start, making profits means your approach to trading is effective, however, I think what you need to study next is risk management, you know, to avoid losses. Trading without any risk management knowledge will lead you to losses that you can't even afford, losses that will make you a very compulsive trader. Controlling your emotions is very important as well, so you can avoid entering blind trades without even doing a solid technical analysis.
Risk Management is an essential tool in trading that is why we always look out for analysis that can help manage the market volatility and unstable nature.
What is the solid analysis that I can lay my hands on I need some recommendations.
hero member
Activity: 2870
Merit: 574
Vave.com - Crypto Casino
December 04, 2021, 01:04:11 AM
#44
My newbie trading experience was really a bad one because I lost reasonable amount of money.Instead of me to ask,make research and see how they go about trading,I wanted to do it myself without consulting anybody.
But as times goes on,I decided to mingle a little with people who already have experience in trading.And that was how I became a little good in trading.
Finally, you did a better thing related to trading. You realized that learning from other people who already had trading experience is necessary to get their experience and use it for ourselves.
If we can learn from many resources or discuss with other traders, that can also help us improve our skills, but we need to remember that what we did will not give a fast result and we need to keep learning.
If we can get something from those people, sooner or later, we will see that our chance to trade and make a profit will be bigger and once we see that, we do not have to show off and stop learning because that will prevent us from improving our skills better.
sr. member
Activity: 1232
Merit: 379
December 03, 2021, 10:34:28 PM
#43
My newbie trading experience was really a bad one because I lost reasonable amount of money.Instead of me to ask,make research and see how they go about trading,I wanted to do it myself without consulting anybody.
But as times goes on,I decided to mingle a little with people who already have experience in trading.And that was how I became a little good in trading.
sr. member
Activity: 826
Merit: 263
December 03, 2021, 06:52:51 PM
#42
If you know how to control your emotion, I guess it wouldn't be hard to battle hardships in trading despite of being newbii.
Not only controlling emotion, having sufficient knowledge is the most important if you are in a newbie level. That's why newbies mustn't hurry to trade if they still have not enough knowledge. Knowledge will determine how to trade properly, it leads us to succeed in trading. Remember that one of the biggest factor why many newbies failed in trading because they have not enough knowledge. They just trade carelessly without knowing how to do it properly.
hero member
Activity: 1974
Merit: 502
Vave.com - Crypto Casino
December 03, 2021, 06:43:00 PM
#41
Sometime early January 2021 I started my trading journey without anyone putting me through, I study the market movement of a particular token and analyze its weekly price volatility.
I started trading with $200 and within a month I made $450 including my capital. Since then I suffered a loss and have recovered but need trading knowledge that will take me to the next level with high profits.


That's normal for newbies to experience those things, but after  you learned important lessons managing trading can be done without any struggles. If you know how to control your emotion, I guess it wouldn't be hard to battle hardships in trading despite of being newbii. Mastery won't be achieved if you don't start from scratch.
hero member
Activity: 2968
Merit: 687
December 03, 2021, 04:52:13 PM
#40
Sometime early January 2021 I started my trading journey without anyone putting me through, I study the market movement of a particular token and analyze its weekly price volatility.
I started trading with $200 and within a month I made $450 including my capital. Since then I suffered a loss and have recovered but need trading knowledge that will take me to the next level with high profits.

Just don't rush up yourself because trading is always something like this on where you do profit on that day and would lose on the other ones because you cant really predict on what would happen next and this market moves out unexpectedly.

You shouldn't really enclosed your mind about the probabilities because you would easily get discourage on this case.

Experience is a must and that means you would really be needing to experience for yourself.
legendary
Activity: 3710
Merit: 1170
www.Crypto.Games: Multiple coins, multiple games
December 03, 2021, 04:42:51 PM
#39
It is understandable to not know how to trade and what to do when you are a newbie. I didn't know what to do when I first started as well. However eventually I started to learn more and more about how things work and now I am doing much better.

All in all it is not really a bad situation to be in, you are new and you are long way from making so risky moves that you may lose thousands of dollars. Imagine all those "great" traders, yes they are rich and that is awesome but when you are not rich, you only aim to be rich, if you are rich enough to retire and never work again that is great too, but when you are just rich enough to keep working in trading, then every day could be your last day and you could lose tens of thousands of dollars and be in horrible stage. So all in all, I would rather be a newbie, well I rather be wealthy and not need to trade, but compared to people who risk thousands a day, I rather be newbie who has so much road ahead.
hero member
Activity: 2114
Merit: 619
December 03, 2021, 03:04:44 PM
#38
Sometime early January 2021 I started my trading journey without anyone putting me through, I study the market movement of a particular token and analyze its weekly price volatility.
I started trading with $200 and within a month I made $450 including my capital. Since then I suffered a loss and have recovered but need trading knowledge that will take me to the next level with high profits.

This might sound rude to you but you were just lucky to make some quick profits during the bull run and now when the bull run is over you are just struggling to make similar sort of returns. I think you need to learn new strategies which could suit this type of market because there is no one strategy which fits in all situations. Change your strategy back test in similar markets.
member
Activity: 742
Merit: 30
December 03, 2021, 02:48:30 PM
#37
Sometime early January 2021 I started my trading journey without anyone putting me through, I study the market movement of a particular token and analyze its weekly price volatility.
I started trading with $200 and within a month I made $450 including my capital. Since then I suffered a loss and have recovered but need trading knowledge that will take me to the next level with high profits.

Crypto trading is not an easy job or easy way to make money, one need to understand the basics and also learn some tips about crypto market. I also buy a token called scientia, upon all my observations, the coin has been burning or what should I even say, I was confused because I have more than 200 pics of the coin but now I have less than 0.5 pics. The price is increasing but I am still on lost. Finally I noticed that I really need deep knowledge before I can buy or trade crypto.
hero member
Activity: 2562
Merit: 586
December 03, 2021, 02:28:05 PM
#36
I started trading with $200 and within a month I made $450 including my capital. Since then I suffered a loss and have recovered but need trading knowledge that will take me to the next level with high profits.
If you have invested your $200 into bitcoins then by the times of April 2021 itself, you might have gained at least 3x or if you have held till now then you might have got chances to make 2x. So, I like to suggest you to go for long term based trading rather than going with any kind of active trading.

Active trading may get you profits some times but later on you may lose all your profits and your capital also. But, in long term trading with bitcoin will get you definite profits and if you are ready to hold for next 4 years then you may get 10x profits also. So, start studying about the power of bitcoin holding and then you may decide about trading or holding.
jr. member
Activity: 476
Merit: 3
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December 03, 2021, 01:42:55 PM
#35
It is not bad but I learn from my mistakes, it was not that easy for me as a newbie in trading. My first time to trade, I traded a coin that have starting pumping much thinking it will continue pumping like that, after buying the coin did not pump more to remain at same prince after it starting dumping by little percentage then I started fearing not to lose. Then I sold it out,so lost 5 percent of my capital before I know again the coin price started pumping, it now increases in price for 20 percent with.
full member
Activity: 868
Merit: 106
December 03, 2021, 11:56:14 AM
#34
If you already have trading knowledge, you just need to develop a trading strategy. I applaud your first trade, because you can already profit from your trade. In my opinion, you only need to update the market situation, and also have to be able to analyze so that your decision is right.
jr. member
Activity: 140
Merit: 2
December 03, 2021, 11:09:20 AM
#33
It is very important to analyze the mistakes you have made. For a beginner, this is really a very important aspect to be successful.
hero member
Activity: 1778
Merit: 520
December 03, 2021, 10:42:04 AM
#32
Cryptocurrency trading requires a lot of effort and patience and one will have to get used to the dynamics of the market and how it affects our capital. Going into loss is a normal thing in trading but you should always fix the issue that leads to the loss and growth in your analysis.

Agreed. Trading is a challenging road to pursue, but one must not give up after failing, or even if it will happen again. It is true that encountering loss is a common denominator when it comes to trading but standing firm on your ground and doing things to make you a better trader is what will make you regain those losses and make you say that all of challenges are worth experiencing after all.
member
Activity: 742
Merit: 12
Global peace initiative
December 03, 2021, 10:16:32 AM
#31
Cryptocurrency trading requires a lot of effort and patience and one will have to get used to the dynamics of the market and how it affects our capital. Going into loss is a normal thing in trading but you should always fix the issue that leads to the loss and growth in your analysis.
sr. member
Activity: 1479
Merit: 273
Seabet.io | Crypto-Casino
December 03, 2021, 09:29:49 AM
#30
Sometime early January 2021 I started my trading journey without anyone putting me through, I study the market movement of a particular token and analyze its weekly price volatility.
I started trading with $200 and within a month I made $450 including my capital. Since then I suffered a loss and have recovered but need trading knowledge that will take me to the next level with high profits.

If you already reach profit, then seek what cause your loss. With that you can minimize or maybe in next order you can already fix it or at least minimize it. Because minimize lose not only about technical analysis but also how it will be affect on our emotion.
hero member
Activity: 2604
Merit: 816
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December 03, 2021, 09:29:02 AM
#29
Sometime early January 2021 I started my trading journey without anyone putting me through, I study the market movement of a particular token and analyze its weekly price volatility.
I started trading with $200 and within a month I made $450 including my capital. Since then I suffered a loss and have recovered but need trading knowledge that will take me to the next level with high profits.

This result is quite good because as a novice trader you can make your capital increase 100% in one month, it could be because of a bullish market condition, a bullish condition makes markets moves up and down very quickly and the market very active.
It will very likely have different results when the market enters in bearish condition. You just need to improve your trading knowledge to survive in crypto trading.
Besides bullish market conditions, he can select the right coins to make a big profit. It is normal if sometimes we lose even more than 50% of our capital plus our profit, but we do not give up because many novice traders are disappointed and decide to take a break from trading. I suggest you search for the other lesson that can help you improve your skills better than before because learning the trading lesson will not end, even if you have already become a pro trader.
hero member
Activity: 1778
Merit: 746
December 03, 2021, 08:52:43 AM
#28
Sometime early January 2021 I started my trading journey without anyone putting me through, I study the market movement of a particular token and analyze its weekly price volatility.
I started trading with $200 and within a month I made $450 including my capital. Since then I suffered a loss and have recovered but need trading knowledge that will take me to the next level with high profits.

well, that is the reality of trading. You can't easily make money. maybe this month you succeeded, but for the month after, it will not necessarily be repeated.
keep learning from it, from the mistakes you make. however, we've all been through it, even to this day I also still make a lot of mistakes. After all, you started this with an advantage, it was quite an impressive move
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