My newbie trading experience - page 7.

gabbie2010

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Quote from: Wiwo on December 02, 2021, 05:03:14 AM

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.

Try and pick a trading strategy out of the numerous ones available on youtube or forexfactory work on it and practice with it first, embark on demo trading by a means of virtual money, moreso you will need to learn technical analysis using candlestick patterns, learning this aspect of trading will aid your trading journey, thereafter after earning profits consistently using demo or stimulation, though losses are inevitable but few losses with many winning trades will guarantee profits, thereafter you can continue with your live account.

Lucius

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Quote from: Wiwo on December 02, 2021, 05:03:14 AM

Since then I suffered a loss and have recovered but need trading knowledge that will take me to the next level with high profits.

Cryptocurrency trading is extremely risky because they are volatile and no one can give you or sell you instant knowledge of how to be successful. The most important thing is to gain experience, and you can only do that with time, which means that you will, unfortunately, have to lose many times to learn something.

What you need to know is that trading is not for everyone, and that most end up losing their money or giving up for a small profit. It can also be very stressful and affect human health if it goes to some extreme. If it were so easy to make big profits on cryptocurrency trading, then everyone would be successful - and the fact that only a small percentage really gets rich means that a lot of ordinary traders like you have to lose their money.

Your loss is someone's gain, and the question is whether you can be on the winner's side in any way.

Wexnident

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I don't take loans, ask for sig if I ever do.

I don't think there's a trading knowledge that could take you to the next level? All trades are, in a sense, of the same level really. It's just a matter of how much you can actually expect the market to move towards which side. Maybe the next level you're talking about is that? That's just honestly collecting info about the market, analyzing them, and then creating an assumption based on that. An assumption, nothing more, nothing else. Honestly just keep doing what you're doing, losing money is always expected in trading, nothing unexpected.

noorman0

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[Nope]No hype delivers more than hope

Quote from: Wiwo on December 02, 2021, 05:03:14 AM

-snip-
Since then I suffered a loss and have recovered but need trading knowledge that will take me to the next level with high profits.

What high profits do you mean (in percentage)?
It is very difficult to achieve multiple profits in the spot market with top coins and using common trading strategies. The only chance is if you accidentally buy a hype coin.
Or you can try margin trading with increasing leverage as you adapt your skills to this type of trading and the risk involved.

n0ne

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I believe you started your trading journey from the tokens received as rewards for bounty participation. It is quite interesting that you made $250 profit from the first trading. This could've given the understanding about the basics of trading.

Further what needs to be done is choosing of the right cryptocurrency to make profit. Also you should not think of making similar profit as the first trade. This could lead to long term waiting, so good is to make minimal earning out of the regular price fluctuation.

YOSHIE

legendary

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It's quite impressive you made a profit in trading, what coins are you trading, if i may know and how much time do you need to cover your initial loss so that you get back and make a profit of $450.

From your story, I judged that you started trading crypto with a capital of $200 and the coin went down, you lost, after that you got up again and made $450, so do you still trade on the same coin when you lose or you move to another coin, from the rest of your capital, so you make a profit.

livingfree

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If you have made gain as your first start. You should have secured your profits already or your capital.

In that case, whether you lose with your remaining balance, you still managed to take out what's yours and you're still not in losses. What you need more is experience with the market.

It's a normal process that you're going through.

Wiwo

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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.

Topic: My newbie trading experience - page 7. (Read 687 times)