Topic: New trader's must remember it. (Read 1620 times)

          -      If I look at the images given by OP, it seems like the easy thing to do as a trader in this field of crypto space. But when it comes to actual trading activity, it's not that easy to apply because you still need to have a deep idea of trading in the crypto business.

Maybe control our emotions and don't allow greed when it comes to actual trade on any exchange site platform, whether it's CEX or DEX. Then the risk management should also be practiced; that's really important.

The success of a professional trader in the trading world who has managed to achieve a lot of profit in large amounts I think is the first motivation for some other traders, especially beginners, it is natural as long as it can increase your enthusiasm to continue to struggle in learning, but you must also understand that professional traders succeed at that point as a reward for the hard work they have previously done.

This means that everyone is allowed to have hope and everyone also has the same opportunity to achieve that success as long as you are willing and serious in learning various things about the world of trading such as various ways to make a profit or various ways that lead to risk management such as controlling emotions and expectations but of course you must also understand that it takes time that may not be short to achieve that ability. Don't think that you can get significant results like those obtained by a professional trader if at that time you are still a beginner, because after all every success certainly requires a process.

There are so many emotional ups and downs about it that we are going to become a good trader then we need to learn more about it and that could be the most important part. We are going to end up with a good result if we learn to control our emotions and not really deal with anything bigger.

I know that emotions are hard to control and that is going to be a very hard thing to do, so it will take some time for people to end up with some good results because at first they will have some problems when they are dealing with these type of issues, and with time they can get better. This could definitely be a hard thing to do, but with a lot more focus we can definitely learn to control emotions and become better each day.

Eventually, after many years of learning how to control them, we become better traders who are like robotic and could make more money and can do very greatly. So we can just focus on getting better each day and get richer by doing so.

If I'm being sincere there's a big difference between these theoretical concepts and actually trading
Day trading itself is not an easy task, you may try to prepare your self mentally and say you wont get emotional and you won't overtrade when you loose money but trading has a way of breaking the foundations and before you know you are making the same mistakes
Believe it or note experience is still the best teacher someone may tell you don't over trade and also tell you why you shouldn't overtrade but you may not fully get hoe important that rule is until you see yourself loosing all your money in one day then you will know
For me I believe a successful trader is someone who learns from their loses and their mistakes instead of blaming the market
Well this is just my opinion I'm open for corrections

Its not bad to have some inspiration because this would really be pushing you to trade up even well but on the moment that you do become that desperate then this is where issues or problems do arise, because on the moment that you cant be able to handle such pressure then you would really be ending up with having that kind of desperation just because you are really that trying out to mimic yourself to be someone.
When you are just that starting on doing trading then trying out to make yourself being a professional would really be having that kind of negative results and as i said earlier that when it comes to this situation and when desperation kicks in then it will really be that hard to control and this could really be resulting into tons of mistakes on which it will really be giving that pile of errors.

Always take the slow pace and never make yourself that be in a rush because once you do then this will really be that resulting into negative. Slow pace learning is recommended specially when dealing up with
an unpredictable market and into its movement on which there's no way that can be known. Somehow making use of indicators and other tools could give out somewhat some advantage but of course its not
something a guarantee that could give out positive results. This is why you should be realistic at least on the things that you are dealing with.

If you are tempted by the results that have been obtained by a professional trader, then it will certainly be a motivation for you to continue to learn how to trade well and I am also sure that you will be able to become a professional trader while continuing to learn about trading and also continue to practice, in terms of controlling selfishness when trading I think it will depend a lot on someone so everyone must always practice so that they are not selfish making them lose what they trade.
You're right, of course we don't have to care about unimportant input when trading and also focus on our own goals, of course this is very important because if we are easily influenced by other people's input, of course this will be difficult to focus on the goals we want.

well, that's a very good picture for all of us. however, the picture almost covers all the basic things that need to be done to maximize profits and minimize risks as little as possible. most of the things I find is, it is very difficult to do cut loss. this is because people expect the price of the coin to go up again. even, I still have coins like that that I hold until now. However, I suggest if in this situation, try to be wiser to try to do cut loss to avoid greater risk

Most novice traders are easily tempted by the results other people get and are nervous about what they are trading. Beginners should be able to find out about how to control selfishness when trading with professional traders. In facing realities like this, novice traders must also learn what risks a professional has gone through in trading at the right time. So far, I have also thought that only we personally can judge how far we have been successful in managing traders on various exchanges.
 Don't be too tempted by input that is not important. When it comes to trading, stick to your own goals, keep learning more until you get the results you want.

Beginner traders still have to train themselves not to be easily nervous and also not to be easily tempted by the profits made by others. Because those who are still beginners must of course be distinguished from traders who are already quite professional in managing their emotions and risks in terms of trading on any exchange. And I think everyone can definitely realize that in themselves because only we ourselves know how far our abilities are in matters related to trading.

This kind of thing is not something we rarely find, in fact we will see it every time. When traders take advantage, the price will increase and can provide greater profits, and when they try to hold it, the previous profit becomes a loss. Therefore, we must apply a profit target and we must be able to commit to the target that we have set at the beginning.
Because some people will become greedy and finally what they targeted at the beginning they just ignore, this is what can actually cause problems in the end. We must be prepared for the risk, not only in the risk of loss but the risk when we can get big profits but we are faster in selling, that is also a risk that we must take.
Well, apart from that, the point I mentioned earlier was the commitment to something we plan. Everything will be in vain when we can't hold what we plan, so that's also a very important point to do.

We know that the crypto market is very volatile due to which the price of a coin fluctuates constantly.  So when a new trader makes a few dollars with a risk and after selling his invested coins, if he sees that the price of that coin has increased more than his sell rate, he gets emotional and panics. Due to which he buys that coin again at a price higher than his sell rate and loses. Emotion is one thing that will never let you understand satisfaction. And that is why you will always make wrong decisions. And this happens mostly with new traders. So everyone should learn to control their emotions first

True. The three things you mentioned are very important for beginner traders, especially about controlling emotions because without being able to control emotions all trading plans will fall apart which will make you lose. If you do trading activities, never get carried away by emotions, you remain rational when making trading decisions and avoid FOMO.

In addition, what beginners need to remember is not to be satisfied with the knowledge they have gained, keep learning even though you already understand it, especially with basic trading knowledge such as understanding trading terms, technical analysis, and fundamentals because that is the key to success in trading. Then don't forget to keep discussing with other traders to get new insights, and finally, the most common mistake made by beginners is not to be tempted by quick profits, because get-rich-quick schemes usually end in losses.

I think smart money concept SMC is a good option for new traders who are really interested in SPOT trading

The pictures presented make a lot of sense to me. As traders, it will be helpful to have control over your emotions to be successful. Over-trading is one main reason why traders go broke easily. When they don't have a budget or trading plan, it might lead to putting in more than our risk level, which could lead to deep losses.

Always taking gains, no matter how small, is good advice. I know some traders who always target to get huge profits. Because of that, they neglect the opportunity to cover losses or make small gains. Traders shouldn't be greedy because it is better to gain small than to keep waiting for high profits.

I remember the days in school exams when you erased the right answer and chose the wrong one you copied from a friend because of a lack of confidence. Once you know you did a proper analysis, stick to it regardless of FUD emanating from different areas.

Some traders decided to delegate their trading profession to robots. Robots or bots cannot replace humans, so there is a need to monitor your trade closely.

So you do talk about having some demo? Yes, it would be that recommended specially if you are really that starting from scratch or simply having that zero knowledge on which making up some familiarization
about into those indicators and other terms or whatever you do able to see on chart on which it is really that somewhat that recommended that you should really be that trying out to familiarize.
On the moment that you do reach out into this area then the next thing to be done is to deal up with real spot trading with real balance on which this is where other learnings that you cant be able to get from demo
or simply reading up some books. Real experience would really be your best next teacher on which on the moment that you had already dealing up with the real market with real money, then this is where serious approach
and dealing will really be starting up.

Loses are inevitable and this is why its important that you do really make yourself that be versatile on whatever the condition that you would really be able to encounter.
Dont easily give up or lose hope because loses are really just that part of the process. On the moment or time that you had gained up sufficient experience and knowledge or skills then
you would be able to handle yourself well into this very speculative and random market on which not everyone could be able to do it. It will really be that survival of the fittest and
if you arent that good when it comes on handling something specially into your emotions then you cant last up long.

I absolutely agree with OP. Trading is not just about technical analysis but is also about controlling your emotions. Fear and greed can lead you to make bad decisions even if you understand the charts. It's important to stay levelheaded and manage risks carefully. This can be especially difficult for new traders since they will be more nervous about losing money or get tempted when hearing other traders make large profits.

True, basically trading is an activity that involves opportunities, money and risk, if you do not act carefully and do not calculate every step you will take then most likely all your money will be lost, this is not a matter of luck but about how skilled you are in managing everything well especially in the risk section. This means as you have said that trading using small amounts is highly recommended especially for beginners, because it is certain that a beginner will not have much knowledge about the world of trading which makes them very vulnerable to making mistakes.

So for the initial step that must be considered is in terms of capital, in the sense that a beginner is only advised to trade using small capital because they are still in the learning process, and one of the reasons why bringing large capital is prohibited for a beginner is because what is feared is when they are in a loss and emotional situation then it is very possible for them to take various impulsive actions and decisions that make them not hesitate to take revenge on the market without making any consideration or analysis so that in the end they will most likely lose a lot of money in an instant.

I appreciate the image shared, the warnings are reminders to the new and challenged old traders. Trading is never easy but we can still earn from it and make it easy for us, all we need to do is follow the right trading rules, trade under balanced psychology, ensure we are truly experienced with a foolproof trading system and make sure that we have good trading management and plans that we will never deviate from. This is why I like to correct you that trading is not bad for everyone but for some set of people and these people are those who take it for granted or that are not adequate for it (whether by nature or are just making mistakes).

However, among all the points written on the image, I can only fault the "always take gains." This should be subjective and there should be a certain principle for it, otherwise, the trader might be making mistakes through emotion. Instead of that, I would have loved it if it could be "adhere to profit-taking strategy." This will not let the trader deviate or randomise the profit-taking activities, this could cause greed or fear if care is not taken.

What you mentioned if followed by an informed trader will definitely make it much easier for him to trade profitably. But you must remember that most of the time people fail to follow them. In my opinion when one trades and sees the market going down it becomes very difficult for him to be patient and he starts to think that maybe now is the right time to sell. Actually we can see that there are few people who control their emotions, have patience and achieve new things. Trading is not an easy task and it definitely requires strategy and intelligence. It is not enough just to know that it is possible to profit from trading.  That is why you must face the facts.

Emotion Control, Risk Management and use stop loss is must important for beginner treders. Emotions are our biggest enemy when it comes to trading gambling and emotions alone cause us to make wrong moves many times due to which we face huge losses. and it is not possible to completely avoid loss in trading, so it is very important to learn money management to protect yourself from very large losses and at the same time risk management must be done.  Otherwise, it will be very difficult to avoid big losses or save yourself from emotions.