Topic: New trader's must remember it. - page 2. (Read 1604 times)

Using a small capital as a beginner is good, but using no capital is even better. Why does a person need to use money when they know they aren't prepared to do something yet? A medical student cannot be allowed to get into the ICU and do operations when they are not yet qualified for it and don't have the necessary training to successfully do that. Similarly, when we get into a financial market, we need to understand that we shouldn't get involved financially as long as we are not ready for it.

Investing and holding are not problems if it's done with cryptocurrencies such as Bitcoin, but trading isn't everyone's cup of tea, especially if someone isn't knowledgeable enough about it. So when a newbie gets into the market, they need to acknowledge the fact that they need to learn a lot of things before they can be able to successfully earn money from trading. It might sound very easy if you hear it from an influencer on YouTube who is earning money by teaching newbies, but it isn't that easy when you get into it yourself.

That's why it's very important to use small capital first to trade as a beginner. initial knowledge in trading is very important, even if it is knowledge to manage the right finances for trading allocation.
unfortunately, currently, novice traders tend to prepare a large amount of funds to start trading. and they can't wait to start trading even without better knowledge. sometimes inviting a friend who is already experienced enough will help. but in my opinion, something like that is still too hasty.

Believe me it will be more complicated when beginners have to study every picture you share and I recommend learning the fundamentals in trading after that create a demo account for further learning so that they have a view of trading. Sometimes people will get trading experience after being involved in it even though they do not ignore the basic knowledge that needs to be learned first. Trading is indeed not easy to run, but there is always a way for someone who wants to learn to be more experienced.

To avoid psychology, beginners can trade responsibly by relying on small capital. Do not force trading with a larger amount when you have not gained good knowledge. Even technical analysis itself cannot necessarily provide a level of accuracy in trading because there are many things to consider.

The experience you have from trading is what will help you to be successful, an experienced trader is always going to be successful more than an inexperienced trader. Inexperienced traders are newbies that just started to trade and haven't had any heartbreak from the market. They don't take precautions and trade like they know what's going to happen next until they get humiliated by the market before they calm down and start being more cautious how they trade. Experience doesn't have to come from how long you have been trading but if you're the type that listen and learn from how others are trading and the mistakes they made, you won't be caught in controversy that'll make you to lose because of lack of planning and not knowing what to do in certain situations. I think some traders forget that everyone in the market is trying to make a profit hence they shouldn't be relaxed but serious with their research before trading.

Controlling emotion isn't fun. That's one of the hardest thing to do whether you're a profitable trader or investor, when it comes to emotions that's always been the enemy of the most of us. This tip isn't only for the new traders but for everyone who are into this. You need to be emotionless for you to become a profitable trader or as an aspiring one, you have to control it at most times.

That is true. Most of the traders don't have plans at all, they just trade casually without having plans on when they're going to take their profits and when they're going to go all in. At most trades, they're just letting it all in and when they lose, that's when the regret happens that they should have take all the profits instead of keeping it on their accounts and continue to use it with their trades.

One thing I realized when trading, if you don't have trading plan or any back-up plan that will support your trade, your success will be highly uncertain. Although we all trade for possible profits, but trading is not just all about profits and gains. At some point, we also need to value the experiences we have gained more than the profits, as these kind of behavior and attitudes will also be applicable not only in trading but even to other aspects in life. Otherwise, we might end up living our life like gambling having only losses and regrets in the end.

It seems people already share the things you need I guess I can share is my experience once I make a trade I always make a trading plan such as what kind of specific coin I need to make trade and next I need to make a possible anylsis with that current trend of the market once I confirm that the trade base on my analysis I will make a position on the other hand I doubt with the coin Id rather to skip for a while to make sure I have no regrets with my position or possible losses. Now basic support use by the exchange is the TP and SL always use this. It will serve as a guard to your money now if you didn't respect that it's up to you now because you are possible getting greedy and feared with the current market situation. Always count the gains not the wins at the end of the day it's your basis if you win or not.

With the involvement of accepting and learning from the mistake, book keeping or keeping record of every transaction is also substantial, traders need to follow this rules to attain good trading skills, it is prudent for a trader to start trading with a little amount of capital so that it should be bearable if it was loss, rapaciousness or greediness (wanting a huge amount of profits) causes a lot of damages to a trader, don't be emotional and afraid to make mistakes in trading because learning from the mistakes will improve your knowledge, skills and experience in trading.


Exactly, you can not learn the market basics or acquire knowledge of trading in one day or two, you have to exercise patient and learn it for two or more years, learning the market basics is beneficial to every trader, it is going to show and also guide them on how to maintain and manage their own business smoothly, beginner traders are not expected to be having idea on how to make a huge amount of profit in their first attempt, they suppose to be thinking on how to understand every aspect of trading, and how they will gradually become a successful trader.


Honestly speaking patient is the key to success, what ever you want to do in this life and you are impatient it will not be successful, when you trade without having proper knowledge on trading and you didn't make any profit but your capital was safe it is far better than loosing even the capital, that is why it is important to have proper knowledge on it to prevent you from losing.

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.