Topic: New trader's must remember it. (Read 1158 times)

Taking your words at face value, assuming you did not have any prior experience with trading on another speculative market, this is tough to believe to be true.

If you are telling the truth then all the best to you but most newbies will end up buying at the high and selling at the low eventually making a huge loss. But those who do dummy trading learn this folly and eventually buy at the low instead.

If your method is correct, the luck factor is low in case of bitcoin trading. For altcoin trading unpredictable swings are common and thus more risky.

The analogy you gave is very correct, nothing can be done without practice and knowledge, especially entering the high-risk world of trading, of course knowledge is the most important thing to become a successful trader. Trying a demo account is actually there to train yourself and practice patience, but not a few have succeeded in learning with a demo account because of course it is very different if you use a demo account, usually we are more confident, but if you use real money. we don't have that confidence. So in my opinion, in trading, apart from knowledge, we also continue to train mentally so that our self-confidence becomes higher when trading, because hesitation when trading will also result in failure or loss.

Currently, it cannot be denied that the crypto market movement is very fast and dynamic, so that novice traders who use crypto assets do not miss the moment to gain profits. Apart from these two things that we have to learn, as beginners we also have to avoid mistakes in trading such as not following trends, taking too many risks and considering trading as a toy.

I would say new traders should stay away from day trading as much as possible, it is not consistent in making profits so if you are new and starting with the capital that is not willing to lose can't choose this day trading as their way to go. Still those picture can be used for any kind of trading as well cause these all are some psychological move that we may or maynot know but fail to practice when it comes to making decisions regarding the trades.

 I could remember when I started trading as a newbie, I was able to make more profit then compare to now as a professional trader, I was able to take maximum risk then which yielded a great profit, this even drew me to learn more about trading.
A colleague called it luck then but I don't believe in that, you can make a maximum profit when you are new to this trading of a thing. My thought though

Yes, you are right, of course, for everyone who is new to trading and wants to start, they must first learn about trading from those who already have experience and also look for references that they can read so they can understand trading well, then they can start trading to be able to make money. profit from trading and also they must be able to be patient with every learning process they go through because if they cannot be patient of course they will leave the trade with a loss and try with a demo account of course it will be able to give us experience about trading so that when using capital what we have, we can do it correctly in order to get profitable results.

You know that, for people to show interest on something, they will like to seen positive results which is the reason people are going into day trading and long term trading these days to be part of those traders earning from BTC trading in the community.

That is the mind of some new traders because they always feel trading is easy for them to make money until they began to lose money to draw other professionals traders attention to help them out, which I have experienced such incidents from some new traders in the past.

I guess, new traders lack the knowledge of trading, and it will be hard for them to enjoy the benefits of crypto trading because it requires knowledge to make the trading to bring out profit.

The major issue arises from the pressure of time; traders fear missing out on potential profits while still learning to navigate the market. It's high time people started paying attention to products like Smart Trend on CEX platforms. With features allowing users to select market directions and automate trades, they can focus on honing their trading skills.

Yes, this is carelessness that should be avoided because after all trading is an activity that can be very risky when you treat it in the wrong way, understanding and knowledge are always very important because this will be the basis for the decisions we will make later, and if for example, you come with the intention and purpose of making a profit while on the other hand you don't know at all how to trade and what things have to be done, then yes, it's clear as you say, which is the same as driving a car without knowing how to drive it, which in turn In the end, you will most likely get hurt.

In any case, if it concerns or involves money, there will always be risks that may arise, such as in trading where all traders have the same opportunity in terms of profit opportunities but on the other hand they also have the same possibility of experiencing losses, and it is clear when you don't have any knowledge or insight at all because you don't want to first dedicate yourself to lots of lessons, so obviously in the end you will just waste your money. Moreover, you can get a lot of information from several sources about what steps beginner traders should take, you can get it on the internet and it's free as long as you want and my advice is don't put too much hope in profits if for example you don't have any knowledge at all.

Yeah an beginner can become a good trader as well but as you said, only if they focus a lot of improving their knowledge and skills so that they don't lose their capital in the initial stage and then regret it. Most newbies make the mistake of rushing into the market to start trading when they don't have any knowledge about how the market works in the first place, and while trying to do that, they lose everything they have and then blame the market for it.

Newbies need to understand that knowledge is the first step, it is not possible for one to do anything successfully if they don't have any knowledge about it unless they are extremely lucky and we know that a financial industry doesn't work on luck, you need skills to stay within the industry.

Trading has really caught people's attention and everyone wants to be part of this....and if you ask me , this FOMO is actually one of the reasons why people are failing because they don't have a strategy to start with and keep gambling which every profitable trade knows is a recipe for failure!!!

On the "Psychology " part I kind of agree...very few people know how to manage this but you can counter this by following your strategy to the last bit...

Emotion for me is the real winner that gets most traders losing because they lack the patience and just can't wait..if that's not what will get you, then the revenge trading will as none of us love to see ourselves losing which is why the blowing of accounts happens...

Do you drive a car on road directly without learning how to drive? No right? Similar case with trading also. If you trade without proper knowledge then, you won’t get any profits. Trading takes lot of patience and dedication. Hence, if you want to make profit in the trading market as a beginner, then you need to master the art of patience. Try learning the theoretical things first, then do trading on demo balance. At last trade with the amount that you can really afford to lose.

That's right, it doesn't mean it can't and it doesn't mean it's impossible, because after all we can see that there are some traders who ultimately succeed in achieving success in the world of trading, and it is clear that all people who ultimately succeed and succeed in any field are definitely all of them born from a beginner who initially knows nothing about their newfound field. The point and meaning is clear as you said, that it depends on the intention and determination along with the seriousness of each person, if for example they are serious about studying and always work hard then yes nothing is impossible because everyone has the same opportunities but not everyone is ready to go through all the difficulties in the process of their journey.

Everyone can achieve success, which means that it is a matter of time that differentiates your success process from other people's, because if everything is based on sincerity and hard work then nothing will be impossible whether they started it all by becoming a holder or trader.

Yes, it's difficult, but that doesn't mean it can't be done. it all depends on how ready the beginner is to start trading. When a beginner makes a lot of preparations, including learning anything from a mentor, and only starts trading when he gets good guidance, I'm sure novice traders can do it too.
although I would prefer a beginner in trading to start by holding their assets rather than trading because their chances of losing will be greater than making a profit. But everyone's interests and abilities are different. we have to realize that.

From all  of the rules given it is the Self Control that stands to all of those because if we cannot
find this control then why we have to gain from trading?
though they can enter the market a newbie but as Holder not as trader because that is  truly
harder to initiate learning how hard the trading manner is.

many novice traders prefer to trust other people's analysis and choose to copy-trader because they don't trust their own analysis or they are too lazy to do that. however, if they are able to do their own analysis and trust it, they can gain more experience and that they can use to help a good trading portfolio. but because of their lack of confidence in their analysis, in the end they choose to trust other people's analysis and rely on it in each of their trades.

This is true. You've got to take every step. No short cut. Once you rush and skip a step, yes you may advance but you will still fall back on things you should experience and learn first. In short, once you rush in to make money, it is faster for you to lose it all of your account than to make money. Because in trading, it is a must submit to the process.

You cannot go in a trading day and say you are going to make money. You can only make money once the market allows you to capitalize a move. You cannot force things, you cannot rush. Otherwise, you will get caught of your own psychology.

Yes, basically before starting trading we have to change our perspective or mindset regarding trading, because trading is a high-risk activity so learning alone is not enough in a short time. Every time you trade is a lesson that must be learned and you don't have to rush to start trading. small capital because trading is not a way to get rich in a short time.

Even if we implement it, we must make trading a business, not a hobby or job. Because if we make trading a hobby then there is no real commitment to continue learning. Likewise, if trading becomes a job, it will make us frustrated because we don't have a steady income.

So the most correct thing is to make trading a business because in business there will of course be capital, losses, uncertainty, taxes, stress, and of course risk. So if we have this mindset when trading we are always careful, we continue to do research and develop strategies to maximize our potential trading profits.

Trying to trade with small capital to start with is a pretty wise choice because you don't have to start with a large amount of capital if a trader is just starting out. Apart from that, by experimenting with small capital and seeing how it can grow to become large, this can also be a reference for oneself in learning because when someone is able to manage small capital and become large. It gets easier when one starts putting larger capital into the market to use for trading, so what you say is very true for first trial options.

That's right, everything must start with the smallest, especially in terms of budget allocation for opening open positions, because obviously you have just started, where you are a new person who has just entered the world of trading, which means that at the start you have to start with steps that are not too excessive, such as in terms of budget allocation, try to only use a small amount of capital and make sure it is an amount that you can be responsible for whatever the outcome, especially possible losses at the end of the trading session.

I think an initial approach like this is more recommended because after all you are still in the adaptation stage to market habits which are usually fluctuating. On the other hand, yes, I agree with you that something done in a hurry usually always ends with bad results, therefore it is better for you to learn slowly little by little, it doesn't matter if it's slow because the important thing is that you are right - really understand everything you learn. However, trading is a profession that is quite difficult to learn, but it will not be too difficult if for example you can be patient and willing to process because to really become a fairly reliable trader, you need a lot of experience and a lot of flying hours, which is where You will only get that when you are willing to persist in the learning process.

This is easier said than done. Many traders are already aware of this but would unintentionally ignore them due to trade anxiety and stress. One thing we should know is that following these rules above strictly does not guarantee trading success, most times it is better traders learn from their own experiences so they can understand better what exactly works for them. Trading is indeed profitable to those who truly know their onions in trading.

Trading is not for everyone, many traders will ruin all the efforts they've invested in trading just because of their inability to control their emotions. If as a trader, your emotions tend to be a barrier to your trading career,  then you should consider working on your emotions first or better reconsider if you can actually thrive in trading.