Topic: Need help trading. - page 3. (Read 1220 times)

first you need to know which market you want to enter, whether you want to trade forex or crypto, then after you choose the market, then you can learn which broker/exchange you feel is the market for you and then learn how to open an account, adjust leverage, etc. then after that you can start learning analysis, whether technical or fundamental, you need to learn both, and then after you learn on a demo account and are proficient at it then you can open a real account and start trading with that money.

there is no need to be too hasty to immediately trade with that much money, because you are still a beginner and are very vulnerable to experiencing big losses if you immediately enter the market without any knowledge. just learn first then you can enter the market. hope you can understand it.

While trading can be highly risky for beginners, hence starting trading with just a small amount that you can afford to lose is highly advisable. Learning trading is never easy, yet with passion and patience to aid you in the process, that will make you less prone to losses. For now, I have to advise demo trading account is the key. Although the real live trading is still a lot different, but every trader started on a scratch should also begin with trading not having real funds.

I don’t see a good reason why OP is rushing to trading when the market condition suggest us to buy and hold. This is not the best time to trade most especially if you are still a beginner in the field. Although it’s clear that you want to grow your money as fast as you can, but you know what, trading does not work that way. Experience takes a lot of time, but prior to that, gain first a vast of knowledge and technicalities in trading so that you will know how trading scenario works.

For now, focus on DCA and hodling your coins. This strategy is still best proven to be effective that will give you secured profits when bull run comes, as long as patience is present as well.

Lol...the site still exists and I was surprised when it loaded among many websites I wanted to recommend for the OP. Well, about trading sectors, it is all about what we know and how we apply it, though you are right that people are losing through Forex trading, but the percentage is not as bad as you quoted it, the 99% is way too much. This is not peculiar to the Fx market too, even in the crypto market, people are losing, only that there are other opportunities for investment in cryptocurrency like buying and HODLing your coin in the wallet for it to yield for you without stress. Unlike in the Forex market that you can only trade it through platform trading which is the same as the futures trading in cryptocurrency. By that, we trade leveraged products, so the risk is high.

Also, 15 years is a long year, if you persisted, you would have understood the FX market better to be able to gain something from it. Generally, what people are mostly lacking in the financial market trading on leveraged products is proper trading psychology and management (risk and money). If one can possess the two and also have the needed trading strategy that can vouch for about 75% accuracy, success will be achieved. Even with 50% accuracy and using proper risk money and risk management, the trader can still be successful.

However, what is helping people in stock trading is that they can handle it similarly to cryptocurrency where one can buy and leave it for years. This trading/investment pattern is not just the same thing, and once it is a leveraged product, that means it is margin trading and the risk would be automatically be higher depending on the parameters set by the person.

We have a Demo account for practicing and this is the first step for every beginner trader to start with, learn the basics of candle sticks, bull and beer candles, where the market opens and closes, these are a few things you should know in the first stage of your learning, I wouldn't advise you to throw in the $500 into the market right now, it will be nice if you invest it in Bitcoin while you learn because you are lucky we are currently in a bull market where you chances of having the increased.

Firs I am so excited with OP have over $500 capital for trading as a student and I think is very large amount using for trading in cryptocurrency, but most of exchange for trading place requirement with KYC you need prepare your document ID and difficult for student have the ID before raising up to 18 years old. Its not problem you can use your parent ID and verifying using their document for trading in exchange, I think not good ideas when trading using the other people recommended or joining with their signal group. Make your own research when trading in cryptocurrency because most of signal in trading is not worth to buy with their coins recommended have raise much higher price.
Normally as the beginner always need guider but find the right people can educate your self in trading and not try to follow other signal when buying some coins, research by your self is very important thing in trading and checking with some coins have much transaction volume for trading.

Do not use real money when starting trading because you will definitely lose it. I recommend using a testnet (Deribit testnet for futures/options, for example).

The best strategy right now is to DCA and hodl. Everything else makes no sense during a bull run.

There are plenty of places that teach technical and fundamental analysis but the only way you will really understand is by learning by doing. (just use test money)

I don’t understand, did the OP say he isn’t investing in himself, and I don’t really understand what you mean by invest in yourself? I will like if you can explain the statement better, because the OP never complained that he isn’t doing fine.

When you are learning how to trade, it’s not something you can learn within a specific period of time, your determination will show if you will be able to learn fast, and trading is not what you read books and you will think you know everything about it already, trading requires constant practicing, and you will always upgrade your trading strategy as a trader, so if you are a trader, then you will never stop learning.

Another user already recommended Binance academy, I was going to recommend that and also provide a link to it,, but all that have been done by other users.

So, what I have to add is that, $500 is actually too much money to start learning how to trade with, as a beginner, you stand a chance of losing most of your trade and I believe you (@op) don't wanna watch your $500 get drained in the process of learning to trade, I will advice you start learning how to trade with nothing more then $20 to $50 dollars, and as well, look for an exchange that have a demo account ability of feature, start trading On a demo account first, demo account simply means that money used to trade there is not real money, you can learn with that and get perfect at trading before actually investing real money into trading.

Trading is highly risky, always remember this and arm yourself well enough with good trading knowledge, to minimize your chances of loses.

$500 is a good amount to start with. You are going to trade because you want to grow your funds quickly. It is very risky to raise money by trading in early stages, where you can lose your money very quickly. But you can certainly earn money by trading, but in that case you must have a basic understanding of the market, you have to get a lot of knowledge about the market, you have to master the dynamics of the market. Even if you have an idea in the initial stage, you cannot easily earn money by trading, so you need to have a lot of time and patience. Always trade with the money you keep as spare.

You are a student and you are looking to suggestions to start trading that's fine but are you ready to afford if you will lose money? who says 500$ is not enough to start trade, it's absolutely large amount for any trader. But if you are confident to start it, I suggest you should start small amount but firstly try to learn about trading. Don't start without basic knowledge.

$500 dollars is too much money for you as a new user, I think as you are a small trader you will try many ways to increase your funds. But if you want to increase money by trading then it is risky for you, and you can be exposed to risk for sure, because anytime the market volatility may start you will fall into losses if you trade. But you can earn by trading if you have general knowledge and experience about the market, if you can analyze it. Only when you can analyze the market, you can start trading business and earn from it and increase your funds. If you invest it can be risk-free for you if you invest for long time, but trading is risky, but you need to know about the market first. You can make money only when you can analyze the market and take advice from experienced traders.

If you want to have a good understanding and experience in trading, then you should acquire detailed knowledge about buying and selling tokens from Binance Exchange or Kucoin Exchanges. Do as much research as you can about the various markets on when coin prices are pumping and when they are dumping. And in the beginning you don't trade with all your capital, you start trading with a small amount like $100. Since you are new start with small invoices to prepare yourself. Then when you complete the experience you can launch with full capital and reap the benefits.

A lot of new traders make this mistake, they get into trading and when they face losses in the initial days of their trading, they become disheartened and leave forever thinking that it isn't for them or whatever, whereas what they should be doing is to learn from their mistakes and improve over time which is how one can gain success in the long-run. It isn't easy but you need not to give up this easily.
Even people that are experts of the market and earning a lot of money from their trading activities were once newbies and even they had to face losses like us, but what they did is they kept analyzing their mistakes and improving the areas where they lacked knowledge and were making mistakes, and look where they are now.

You don’t need to stress yourself where you can maximize learning in trading because the forum itself is the best avenue where you can learn trading based from the reliable experiences of old traders. Although you can read all the books and any trading resources all you want, but it’s still a lot different when you learn from such experiences. Aside from learning from others, you also have to create your own experience in trading, but don’t expect for profits because it’s better to gain losses at first because that will motivate you to change your wrong strategy and improve the knowledge and skills that you have started. In time, you will come to limit your losses and increase your winning trades.

Before you invest in trading, invest in yourself first. Trading has certainly its own process and learning it may take months or even a year before you can say you can be a good trader. I suggest go first with a demo trading account, that way you will be more familiar with how trading scenario is. Note that what you have learned from demo trading is still quite different when it comes to live trading. So enhance your knowledge and skills so that you when you start trading with real funds, you can at least minimize your losses and start making some gains, until you can be a reliable trader in the process.

That's so nice that you acknowledge the risk of trading at the same time you are curious about learning to reduce the risks, Most traders don't know where to start, the point is you need to learn about the rice action, TA and FA is included in it as well, after that learn about the top indicators and learn about their efficiency. After that, your journey and market will tech you haha. No one can be perfect.

Make sure to give proper attention to risk management after some of these pre-requirements, for the rest keep posting your queries and we'll answer in our power. 500$ is a good amount to start at least near to me also you are on time, the market is providing good opportunities here.

If you want to know trading well then I think it may take you few months and if you want to gain little knowledge of trading then you can do it in few weeks. Since you want to trade with $500 then you must have a fairly good understanding of trading. I think $500 is a huge amount except for big traders who trade with big money, but for you $500 is a big amount. 

But I can give you a suggestion that you can follow copy trading in Bitget exchange and gain knowledge from there not only Bitget but many good exchange all the rules related to trading are given you follow those rules to trade can. But if you learn from copy trading, don't rely on it for long, learn trading techniques on your own. 

Never trade with signals given by others, always trade with your own signals and strategies, hope you succeed. Finally, I want to tell you that never be too greedy in trading platform, if you are too greedy, you will not be able to profit in trading platform.

There will never come a moment when you say that you already know everything. As soon as you say that you have learned everything and you do not need to study anymore, from that moment your degradation begins, which will lead to mistakes in trading. Therefore, you will have to educate yourself all your life to keep your skills in great shape.

Well, $500  for me is a big starting point, to be honest. Did you just start here in the crypto industry last year? because if you are just now starting to enter crypto trading, maybe allocate the $400  to your long-term investment in bitcoin, or you can also divide it among the four crypto assets that are at the top of the market.

Then use the $100  as a starting point in your practice of trading on well-known crypto exchanges like Binance while you study or learn about crypto trading. This is the best I think you should do, because I just started trading as a practice for only 30 dollars, so 100 dollars is okay in my opinion.