New trader's must remember it. - page 4.

Questat

hero member

Activity: 2982

Merit: 610

Quote from: KupaCrypto on April 01, 2024, 06:14:47 PM

Op it's not about doing all this, it first comes down to knowing how to trade, when to trade, how to take profit and the last one don't be overshadowed by greed,
Most persons are just overshadowed by greed of making huge money from just a single trade, trading is risky, so therefore risk management should also be put to consideration, so with proper analysis a trade is supposed to go smoothly except it goes otherwise, so during trades alot of factors are involved and put into consideration.

Perhaps, these things are very usual to happen for all traders. But with the influence of our greed, everything will change and even forget the things we need to do in order to succeed because what is in our mind is to chase winnings even if the situation is not good anymore. Losing control our of emotions and greed will simply lead us to nothing and the more chances we fail instead of reaching our goal. This may not often happen to old traders but this really happens to newbies who think that trading is just too easy and an easy money game.

It is very important that before we start to trade, we already know our position and must understand the volatility of the market. And of course, must not underestimate trading because every single mistake, it incurs losses as well.

KupaCrypto

member

Activity: 308

Merit: 32

Quote from: Monarch B on March 16, 2024, 12:19:58 AM

Now-a-days many people are interested in trading. But it is harmful for everyone especially those who are trading without knowing it. They are losing all money despite knowing technical analysis. The main reason is psychological.

I have shared a photo below if following this photo will benefit them. Although beginners get technical analysis right then they get lost in psychological. I think this psychological conundrum should always be kept in their head.

Noted: This photo is taken from a group. Avoid copyright issue.

Op it's not about doing all this, it first comes down to knowing how to trade, when to trade, how to take profit and the last one don't be overshadowed by greed,
Most persons are just overshadowed by greed of making huge money from just a single trade, trading is risky, so therefore risk management should also be put to consideration, so with proper analysis a trade is supposed to go smoothly except it goes otherwise, so during trades alot of factors are involved and put into consideration.

ancafe

hero member

Activity: 1778

Merit: 746

Quote from: Awaklara on March 31, 2024, 09:31:04 AM

The problem is, when someone starts trading, of course, their orientation is to make money. or to generate profits from trades carried out. we must realize that it may be experienced by every trader.
what must be prepared is the ability to make money from the trade. Therefore, don't start trading when you are not ready and don't have enough skills. that will only result in trades being carried out based on speculation without any analysis.

Be aware that trading is a way to generate profits or losses and it depends on how someone can handle trading correctly. Starting trading with an inability to face risks will make psychology more chaotic because people will find it difficult to control risks when they experience losses. Trading should be done if one has the ability to face risks and they should also understand how to trade properly.

Without this ability it is impossible to carry out trading correctly and it is very likely that beginners will be faced with losses. Carrying out trades based on speculation will have a bad impact because they do not have any analysis when trading, so the decision to trade in this way is not a good choice.

Awaklara

hero member

Activity: 1246

Merit: 699

Quote from: Natsuu on March 31, 2024, 08:06:01 AM

Well if you started trading and all you just care is cars and making money, then you won't going to make it. In trading you need to focus on the process as oppose to making money. You really have to love this game. Otherwise you are not going to succeed. Because what will happen is you are going to chase money, but in trading it is the opposite. You shouldn't be concern on making money but only the perfect execution of your strategy for every trade that you take. You really have to develop the skill set first, then the mindset, and proper risk management. After that being developed, the money will take care of its own. You just need to trust your earning and learning curve.

The problem is, when someone starts trading, of course, their orientation is to make money. or to generate profits from trades carried out. we must realize that it may be experienced by every trader.
what must be prepared is the ability to make money from the trade. Therefore, don't start trading when you are not ready and don't have enough skills. that will only result in trades being carried out based on speculation without any analysis.

Natsuu

full member

Activity: 1148

Merit: 158

★Bitvest.io★ Play Plinko or Invest!

Quote from: deathcode on March 17, 2024, 12:53:02 AM

Many people are interested in trading because they see people sharing the profits and success of trading. and it looks very easy for beginners to earn huge profits in a short time.
without skills and knowledge, beginners will just waste their money. There are even beginners who seek the services of traders to entrust their money for trading. it's because they realize not have so much skill. others might just go looking for a free signal channel and follow it.
this has to stop. every beginner who wants to trade must learn many things first so that they don't regret it.

Well if you started trading and all you just care is cars and making money, then you won't going to make it. In trading you need to focus on the process as oppose to making money. You really have to love this game. Otherwise you are not going to succeed. Because what will happen is you are going to chase money, but in trading it is the opposite. You shouldn't be concern on making money but only the perfect execution of your strategy for every trade that you take. You really have to develop the skill set first, then the mindset, and proper risk management. After that being developed, the money will take care of its own. You just need to trust your earning and learning curve.

synchronym

full member

Activity: 504

Merit: 163

Of course many people are showing interest in trading these days. To the newbies who are interested in trading, they must first gain enough knowledge about trade, if they do not gain enough knowledge about trade, they will not get much success through their trade. Before trading we must have a long term plan if we can invest with a long term plan then surely we will get success through trading. Patience is very important in trading. Sometimes big traders also lose patience, so if we can trade with patience and keep a long-term plan, we can certainly get success through trading.

Negotiation

sr. member

Activity: 1204

Merit: 270

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: Essential10 on March 30, 2024, 11:19:41 PM

Trading risk project always have the possibility of losing money. However, you are trying to improve yourself by using your past experience and practical experience to reduce risk and become more successful in future trading. If you want to be more efficient in trading, you must pay attention to proper analysis of current market and technology analysis. Develop a trading plan to minimize the loss of your assets by mastering the entry and exit strategy. If you lose money while trading, feel disappointed and consider it a part of trading. Most importantly, controlling emotions like greed and impatience will increase your trading success. Stick to it properly and your success rate will increase in the future.

Success is not possible only with previous trading experience. Because here you have to analyze the market every day and be active in the market every day. Moreover, no matter how good a trader you are, you cannot fully understand market behavior. And when you fail to fully understand the behavior of the market, then the loss is for you so you have to practice constantly.

Essential10

full member

Activity: 448

Merit: 130

Quote from: babagem1 on March 30, 2024, 03:55:13 AM

I have developed the habit of understanding Trading before I go into it because of the issues I have seen and what I have lost so each time I want to trade I always ask a lot of questions so it seems that I ask too much questions but it’s never enough for me because I want to gain more experience to make sure that I didn’tlost any of my money anymore even when I ask to know step to take I still lose but it’s not much because I am taking precautions

Trading risk project always have the possibility of losing money. However, you are trying to improve yourself by using your past experience and practical experience to reduce risk and become more successful in future trading. If you want to be more efficient in trading, you must pay attention to proper analysis of current market and technology analysis. Develop a trading plan to minimize the loss of your assets by mastering the entry and exit strategy. If you lose money while trading, feel disappointed and consider it a part of trading. Most importantly, controlling emotions like greed and impatience will increase your trading success. Stick to it properly and your success rate will increase in the future.

babagem1

newbie

Activity: 39

Merit: 0

I have developed the habit of understanding Trading before I go into it because of the issues I have seen and what I have lost so each time I want to trade I always ask a lot of questions so it seems that I ask too much questions but it’s never enough for me because I want to gain more experience to make sure that I didn’tlost any of my money anymore even when I ask to know step to take I still lose but it’s not much because I am taking precautions

pusaka

hero member

Activity: 1064

Merit: 589

Quote from: wxa7115 on March 28, 2024, 11:46:43 PM

e]We are not perfect, so even when you know what it is the right thing to do, you will find it very difficult to actually implement those actions when the market is moving against your current position.

However what allows successful traders to become that way is that they can recognize when they are making a mistake and they can correct it before their losses accumulate to dangerous levels, so they only need a trade or two to recover from their mistake, while a newbie trader will fail to realize what is happening, and once they do, the damage they have suffered is so high that it does not matter anymore what they do to correct this situation.

This is the difference between traders who already have experience and beginner traders. Professional traders will usually act quickly when they realize they have made a mistake in their analysis, so they can cut their losses. Meanwhile, for beginners they might tend to wait for a price reversal and that doesn't happen.
So what you can do is apply a stop loss in the trades you make. In my opinion, this is one of the best things that beginners can do so that they can avoid more losses or burning their money.
As you said, experienced traders will recover quickly, because mentally they already have a very good mentality. This is different from beginners who still have panic, and it takes time to even just look at the market, because losing might disturb their mentality.

$weetne$$

sr. member

Activity: 322

Merit: 227

Playbet.io - Crypto Casino and Sportsbook

Quote from: doomloop on March 28, 2024, 03:25:42 PM

They are only made to lure people on using their/those platforms. This is why as a newbie, they are advised to not listen to those and the influencers but they can avoid it easily if they will start learning on their own first. There are still legit copy trading services but losing is still possible there and the only negative thing about them is that we may not learn on them.

Copy trading services aren't good for newbie traders because you can't learn with copy trading service but can only make money if the individual is a very good trader. Copay trading will make you to make profits but you can't learn from any mistakes when you use them. You can only use them for making profit but trading isn't everything about making profits but how to get experience that'll help you in the future so you don't make mistakes that'll make you to lose money or to know the exact things to do so you can make money the next time that you want to trade. Newbies don't have to listen to influencer because they have different things that they're promoting to make money and not only trading as they'll claim that they're doing but they're deceiving their viewers.

JunaidAzizi

sr. member

Activity: 658

Merit: 283

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: Monarch B on March 16, 2024, 12:19:58 AM

Nowadays many people are interested in trading. But it is harmful for everyone especially those who are trading without knowing it. They are losing all money despite knowing technical analysis.

This is the best summary I have ever seen in the trading world. If the beginner follows these steps they will never face a high loss. In trading, the most important thing is analysis which is base of your trade but the new one jumps into the trade without any preparation and they lose money they start posting on social media and motivate the new one to not enter into the trading. I will surely say that if they follow these steps they will gain many profits because trading is surrounded by all these things if you hold you will be successful otherwise failure is waiting for you.

wxa7115

hero member

Activity: 2814

Merit: 734

Bitcoin is GOD

Quote from: goaldigger on March 28, 2024, 04:29:32 PM

Quote from: Dr.Osh on March 22, 2024, 11:30:48 AM

This photo illustrates something that many trading players violate. Even though they know that it is the right thing to do, sometimes they increase the risk by ignoring the rules. Well, some succeed, but almost more people fail than succeed.
Apart from that, for beginners, you should use as little money as possible and never use the main money you have. Many beginners feel that trading is easy, and use all the money they have as initial capital.

I’m guilty of this and seriously even if you are not beginner you’ll still make mistakes in trading.
If you are a beginner trader, it’s good to build your fundamental knowledge first about trading and be more ready for the possible risk and challenges that you will encounter during your trading journey. This is risky and no guarantee but if you master trading, this can be rewarding too.

We are not perfect, so even when you know what it is the right thing to do, you will find it very difficult to actually implement those actions when the market is moving against your current position.

However what allows successful traders to become that way is that they can recognize when they are making a mistake and they can correct it before their losses accumulate to dangerous levels, so they only need a trade or two to recover from their mistake, while a newbie trader will fail to realize what is happening, and once they do, the damage they have suffered is so high that it does not matter anymore what they do to correct this situation.

goaldigger

sr. member

Activity: 2422

Merit: 357

Quote from: Dr.Osh on March 22, 2024, 11:30:48 AM

This photo illustrates something that many trading players violate. Even though they know that it is the right thing to do, sometimes they increase the risk by ignoring the rules. Well, some succeed, but almost more people fail than succeed.
Apart from that, for beginners, you should use as little money as possible and never use the main money you have. Many beginners feel that trading is easy, and use all the money they have as initial capital.

I’m guilty of this and seriously even if you are not beginner you’ll still make mistakes in trading.
If you are a beginner trader, it’s good to build your fundamental knowledge first about trading and be more ready for the possible risk and challenges that you will encounter during your trading journey. This is risky and no guarantee but if you master trading, this can be rewarding too.

doomloop

hero member

Activity: 2408

Merit: 584

Quote from: deathcode on March 17, 2024, 12:53:02 AM

Many people are interested in trading because they see people sharing the profits and success of trading. and it looks very easy for beginners to earn huge profits in a short time.
without skills and knowledge, beginners will just waste their money. There are even beginners who seek the services of traders to entrust their money for trading. it's because they realize not have so much skill. others might just go looking for a free signal channel and follow it.
this has to stop. every beginner who wants to trade must learn many things first so that they don't regret it.

Even if they don't see those success stories, they will still know what trading means and by there they will have an idea that it can create a potential to earn. Meanwhile, those success stories that we see on the net are mostly false and as we see, they often have brands being promoted at their videos. They are only made to lure people on using their/those platforms. This is why as a newbie, they are advised to not listen to those and the influencers but they can avoid it easily if they will start learning on their own first. There are still legit copy trading services but losing is still possible there and the only negative thing about them is that we may not learn on them.

el kaka22

legendary

Activity: 3654

Merit: 1165

www.Crypto.Games: Multiple coins, multiple games

There are really no "rules", it is just common sense. Like for example take "control emotions" for an example, do you really think that it is a "rule" or a "suggestion" or is it more common sense. I feel like that is more common sense than anything else. I understand the fact that we are going to end up with something more like it is only natural to do.

I understand not many could be doing it, like yeah there are people who fail to control their emotions but at the same time it doesn't feel like it is going to be all that bad. So we should definitely start considering how we are going to end up with a good return. Just focus on what you can do, and try to work on things you are failing and you will do better in the end.

goldkingcoiner

legendary

Activity: 2240

Merit: 1993

A Bitcoiner chooses. A slave obeys.

Respect stop loss? Why would anyone use stop loss? Stop loss is for panic sellers Roll Eyes

Either you believe in your investment in the long term or you panic and sell just because some line on some chart got crossed. The problem is with those traders who do not trust their investment to pick the price back up.

Sure it might take a while but trying to catch the falling knife is trickier than people expect. Accepting losses is a no-no. Buy low, sell high, be patient. Be brave. Divide your trading funds up into multiple parts beforehand, if you needs funds to trade with in the meantime. That way only one part will be stuck in hodl mode until the break-even point (when the price bounces back).

uchegod-21

hero member

Activity: 1134

Merit: 643

BTC, a coin of today and tomorrow.

Quote from: AnonBitCoiner on March 22, 2024, 12:59:18 PM

Quote from: shawonngp on March 19, 2024, 09:02:41 AM

Need to knowledge and money both of important but trading can not be possible without good knowledge it's should be first priority. A lot of people's have money but no basic knowledge, who guys start trading without basic they never make profits in trading, trading is not easy to make money by just following some successful traders without own research.

Knowledge, experience and money all are important for trading because if you have money but no knowledge then you will loss this money but if you have no money but have knowledge then you cannot use your knowledge without use of money.

We cannot avoid money and knowledge in trading because both are compulsory therefore keep getting knowledge as you will continuously learn new things according to the market. Getting Knowledge never ends because if one can get complete knowledge then experts will never loss their money in trading.

We can say that the most important things needed to be successful in trading is knowledge and money. But the irony is that these two are never in abundant to one person or it can rarely be. This means while some has knowledge some others do not have knowledge but they have the money. The money is nothing without the knowledge and also the knowledge is nothing without the money. Both compliment each other in order to be successful in cryptocurrency trading. But now if we are asked to choose the more important between knowledge and money, we could say that knowledge is more important. This is because someone can actually give you some money to trade and return profit for them if you have the knowledge. But having money without the knowledge is disastrous because you will always be tempted to trade even when you don't have the basic knowledge and the inevitable end is blowing up your account severally.
Returning back to op, it is important to observe all the rules in the picture above, however a trader is supposed to understand himself if he can actually trade or not. As funny as it sounds, trading is not for everyone.

wiss19

sr. member

Activity: 2296

Merit: 348

Knowledge comes way before psychology. I know that one should have a clear thought process to be able to gain success in any field, but knowledge is the fundamental aspect one needs to take care of when entering any field, be it trading, investments, or anything in general.

So before getting into the psychological procedures and things, one needs to acquire enough knowledge about the market and the cryptocurrencies available in it because one can only follow all these instructions if they have enough knowledge to process them further. You can't expect someone to analyse a chart if they don't know what a chart represents and how one can read it or observe it.

ancafe

hero member

Activity: 1778

Merit: 746

Quote from: Dr.Osh on March 22, 2024, 11:30:48 AM

This photo illustrates something that many trading players violate. Even though they know that it is the right thing to do, sometimes they increase the risk by ignoring the rules. Well, some succeed, but almost more people fail than succeed.
Apart from that, for beginners, you should use as little money as possible and never use the main money you have. Many beginners feel that trading is easy, and use all the money they have as initial capital.

That is human behavior in pursuing financial gain and sometimes they do not consider the risks that will result and instead they pursue quick profits even though they do not have the right knowledge. Trading has quite a big risk impact if someone does not understand how to do it properly because the rules are clear that trading cannot be done if we do not master the knowledge involved. Beginners are trapped by the profits that people talk about so they try to take risks when trading.

The mistake is that they use all the money they have as initial trading capital, even though they should be able to use small amounts of money first to improve their skills. After the experience they get gets better, then try to increase the number of trades a little bigger slowly. So they are better prepared to face risks in any condition because experience can teach someone to be more knowledgeable.

Topic: New trader's must remember it. - page 4. (Read 1604 times)