Topic: Need help trading. - page 4. (Read 1220 times)

$500 is a big capital to use in trading, some people have used $50 and become successful from trading. I know some people that started trading with $100 and have made good profits that they have taken out their initial $100 trading capital and still has alot of money in their trading account. What matters most in trading is the information you have and how disciplined you're as an individual because you can get distracted when trading and make mistakes that'll make you to lose money and when you don't have a back up capital, you'll lose interest in trading. If I was in your position I won't use all the money to trade, I'll divide the money and invest some into Bitcoin and use the rest as my trading capital. I'll start with $100 as practice because I still don't have much experience in trading as I'm a beginner and I'll be watching videos regularly to understand how to trade very well and to find new trading strategies.

Well Dear in my honest opinion, the amount you aforementioned is not bad for the beginning level because as you are at your beginning stage investing less will be best for you to learn the market sentiments. I am also a student and you will not believe that I started from the half amount of have or that you are going to start your crypto journey. So do not keep thinking that this amount is less. You will learn surely if you conduct a good research before each of your actions because things happen so unexpectedly and unwanted in the crypto space.

On the other hand, I feel sorry dear as I can not share any source, that you can use to begin your journey as I also did not use any academic material or social group in the learning phase i used to do research before taking any action and some of my friends are in the crypto space before the time i jumped into the crypto space so i used to consult with them and i also do my own research after consulting with them beacsue your own research will help you more to understand things rapidly. Many Thanks!

I agree, having a lot better understanding on how to trade is definitely key to this, plus it is also important not to take all that much risk as well, because if you take big risks, then you may end up with a lot of profit but also you could end up losing all your money. If you do 150x leverage with all your 500 dollars, you could make literally tens of thousands of dollars, with a single trade, that's true and it makes people want to give it a try a lot, because who wouldn't want that money.

However, you need to realize that if you are wrong, even just a bit, like less than 1%, then you are going to lose ALL of that 500 dollars. So, I understand the temptation but you need to be a lot more careful with what you are doing.

Since you have acquired knowledge about trading and you have saved some amount of money according to your ability for future trading in this case I would say you are much ahead. To start trading now you can start trading with a fraction of your full amount first in the areas you have researched and where you are interested in trading as a result of the research. As a result, if you experience losses, you will actually understand where your mistakes are and thus gradually correct your mistakes and you will be able to trade profitably at one time And in this case, even after you start trading, you keep learning more, keep learning more and be patient And start small.

That’s the first thing which the OP should know, if you want to start trading, you have to acquire enough knowledge first or you might end up losing all your $500, which am sure you are going to be pained if after suffering to accumulate that amount of money, then you lose everything, so when you accumulating your knowledge, you have to put everything into practice, and in the process of doing that, you shouldn’t use all your money to do that, just allocate just small amount from the $500, and start with it, if you are learning how to trade, their is high chances that you are going to lose almost all the money which you started with, but gradually your losses will be reducing.

Man I didn't realise Babypips was still around. I remember being a regular there about 15 years ago. After browsing the forum for 2 years I come to the conclusion that 99% of people there never made any money trading forex. I think there is a higher percentage of people making money trading stock options than there is trading forex. Forex is extremely difficult and I don't know anyone personally that earns a living thru it.

Most people who do this professionally either stick with stocks or crypto. Crypto is much easier because at least now, you got transparency. You got volume, liquidation info, open interest, funding rate. None of these tools are present in the forex or stock market. You are at a huge disadvantage trading those markets. Crypto at least the field is more level for different types of traders.

Do you want to learn or want a trading signal? You need to decide about it and stop believing that one signal can help you. If those who are offering you signals did not learn, will they know how to issue the signals? And of course, the $500 capital is very good for starting and learning, but I must warn you, you may lose it all if you are learning. This is why I recommend a demo account for you since you are just starting. And if you would start the live trading/training, use a very low risk and do not think of the money at first.

Aside from that, you must know that the journey to attain trading expertise is not what anyone can predetermine, all you need to do is focus on learning, and if you get to the level of professionalism, you will know by yourself without anyone telling you, as it varies from people to people. Because the time people have for the training, their dedication to it and the source of learning matters a lot. The ability of the person to rightly use what he learned even matters most, so no one can predict the actual or average time you can become an expert in trading.

However, about the link, I am not a new trader, it has been a long time since I learned and most of the important sites I learned about trading are no more functioning. This is a pity because they are full of the most useful training tools unlike what we see these days. Well, in the absence of none, you can use and search;

1. https://www.babypips.com/
2. Search some keywords you want with investopedia.com

One just got to know if they can go through the emotional stress and financial hurdles they will encounter while trading, after they have actually tried trading as a newbie.

Simple trading techniques can be practiced like swapping and converting coins to fiat and vice versa, as well as how to use spot trading to convert to or sell coins inorder to get same value in stable coins. Also, how to withdraw, deposit, from and to a wallet while ensuring safety from hackers and scammers is a top priority before one gets to be a professional or merchant trader.

I don't need to emphasize on doing personal research and the need to strive to be consistent with the trading learning process. It would also help to watch YouTube videos on the subject, while sourcing for sites and social handles/pages that deal on the subject matter of trading.

If you are a student you must trade carefully to trade $500. Before trading you must acquire enough knowledge about the trade. If you don't know about trade then you won't understand much about trade and you won't get much success from trading so before investing you must gain enough knowledge about trade. In trading, you must have a long-term plan. Of course you need to check the market before trading and trade patiently for long term then you will be a successful trader. Patience is very important in trading, so if you have patience and long-term plan and trade after checking the market, you will definitely get success through it.

Yes, a trader can never be an expert in trading as long as losses are inevitable. Everyone has its fair share of losses and gains. However, for a beginner to learn in trading, then he should not jump into live trading but use demo trading account first. While experience is the best teacher, but knowing all the basic knowledge and new insights in trading should come prior to experience. Learning its fundamentals are crucial, as much as technical analysis is vital once a trader starts trading.

One has a lot more to learn prior to engaging in live trading. And as much as possible, have your own personal mentor when trading. Trading is hard and risky, most especially if you have no one to back up when you start facing mistakes and losses in trading.

I would advise beginners or anyone interested in crypto trading to go and learn Bitcoin first before you learn exchanges and trading techniques.
Investing in Bitcoin is quite a lower risk than altcoins. Regarding trading knowledge and skills, they can be learned but experience must be gained.
If you want to be good at trading, then you cannot avoid trading. as well as profits and losses.

Trading isn’t something you can really teach someone. It’s more of a type of occupation which is all about the experience. After a few years you either get it or you give up and move on like most people.

Keep in mind that trading isn’t for most people. Many cannot survive bearish market conditions. Usually people make money in a bull market and end up losing it all in the bear market. Those that survive are rare. And I am talking about stocks, crypto, metals, commodities, etc. Most markets are alike.

I don't think, it will take you a long period of time to acquire the knowledge of trading, since you said you are a student and you know how to read and write which are the easiest way newbies can get it fast to understand crypto trading. Do everything possible within your capacity to visit the market to watch what traders are doing in the market and how they use to trade when they discover that it is time to trade to accumulate their income, and you will begin to achieve some things that will impart on you crypto trading. I will advice you not to rush to invest the money on Bitcoin without having the knowledge of trading, it will be good you use this period to learn trading so that when another bullish season appear again you can trade by yourself for other traders to know that you are good in trading.

There is no other way out of this than learn and experience. You should visit Binance academy for learning the basic but don't depend on that alone. Put it together with YouTube trading channels and practice them, reading alone isn't enough to take you anywhere. Don't use your money yet, try and learn how to use demo accounts for trading else you will blow up that $500 before you even realize.


Avoid signal groups for trades, you can follow them for ideas and how some of them expertise their charts but not a signal, your idea should give you confirmation of trade, the stop loss and when to exit every of your trades. Most signals are scams and wouldn't even tell you when they close some trades.

Actually trading is not a fun activity as you will get good results in short span of time. Some aspects of trading need to be guided as you need to increase the amount of your practice in this matter. You have to go through a lot of strategies when and how you can get good profit from trading. But before embarking on this journey though you need to familiarize yourself with risk management because here your money can run out in no time. Start with small amount first which will help you one more step to get good profit.

No one goes into trading without learning on how it works. And you should also know that learning to become a good trader does not guarantee to you always have a good trade. Sometimes, things will go well as planned and sometimes they don’t just go your way. It’s a 50-50 game, but with your trading skill, you can mitigate the level of loss you’ll get at trading.


Learn by yourself, and develop a strategy that works best for you. We are talking about money here, and no one will pet you or feel sorry for you if you lose it by following their guide and signal. Develop a technique, practise it, and master it. That will only benefit you because you will become a better trader using that method.


Is there a term that describes an expert trader? I don't think so; it's better if you don't set your mind to it so you're not disappointed when you finish learning and realise you're not the perfect trader you've always wanted to be. Just keep learning to improve your trading skills.

No one’s an expert mate. We all learn here, as we trade and become better. Yes there are some tips and tricks which you can follow to avoid more losses. As a beginner, it’s important to gain theoretical knowledge at first. Learn as much as you can, and then apply it practically. It’s also beneficial to trade at first with demo account and demo balance. After you gain some confidence, use the real hard earned money to trade and take little profits.

Newbie traders do not want to hear that, if they have to pick between believing that trading is hard or that it is very easy, as claimed by influencers, then they will pick the second option.

Once a lie has been repeated so many times, it becomes the accepted truth for many, and trading is promoted as an easy way to make money all over the internet, a thing that does not make much sense, but since newbies want to believe they have a chance to obtain instant riches, they will prefer to believe a lie over the truth.

the fact that you don't know anything about trading, as you stated, why did you think of trading at the moment? You don't know that trading is very risky. See, let me tell you, if you use this hard-earned money you saved for a long time in trading without the knowledge of trading, you will not gain anything in return. There is high risk in trading, so don't think of using 500 dollars in trading without the knowledge; instead, you should continue keeping the funds till you learn every single side of trading, then you will use the money and enter the market. Fundamental knowledge, technical analysis, and emotional control are also key important things traders should know. So imagine you use 500 dollars to enter the trading market without any of these. Do you think you will gain anything? To me, your money will go without getting anything in return as gain.


With what I'm thinking, you want to be lazy and not learn the trading concept because if you really want to trade on your own without anyone helping you, you were not supposed to think of a signal. You are still a newcomer, so you need to learn and note that beginners cannot use signals appropriately because you need to set them up before you can make money out of them, so no one here will suggest you should use signals or bots to trade.

Furthermore, the community members will not help you with advice, but we can give links to guides, which I can see that many people have already shared with you. over to you now to learn, relearn, and then earn. If not, trading is not easy and is not something you will get to know in a month, so you need to calm down and focus. If you don't understand anything, just ask. We have many traders here who will guide you.

A newbie crypto trader must understand the undisputed truth that trading is hard and it's not a get rich quick scheme, so it's something that he must diligently learn before involving his capital, so like you pointed out, in the process of learning the newbie trader can first invest their money in Bitcoin, especially in this bull season, then start practicing with demo trading. If it's possible let him get an experienced mentor who can physically guide him, if not he can use the links that Bitmaxz, provided, they're very helpful for starters, and let him have a steady source of income, because it's easy for him to lose that $500 start up capital, without proper risk management tutoring.