New trader's must remember it. - page 5.

AnonBitCoiner

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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.

Dr.Osh

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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.

Distinctin

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Quote from: Hypnosis00 on March 19, 2024, 04:53:32 PM

Indeed, all of it is worth remembering but unfortunately, most traders especially newcomers have seemed impossible it to work and this is because of the lack of emotional control. And this is one big factor that affects our trading journey and the most common reason why we fail. That is why we ain't see all traders who try had succeeded but instead, we see a lot (majority) had failed for some reason.

In trading, there are a lot of things to consider;
- the way we responded on the current market situation
- market approaches
- mind control
- fund management

Even the legends in trading are not actually following some of those guidelines because they create their own that work for them based on their trading experience. But if you are a beginner in the trading industry, sticking to these guidelines or reminders are crucial, not because they’re proven effective, but because these can control your losses if you trade according to these reminders listed by OP. However, they only seem hard to follow at first but eventually you get used to it if you consistently trade in the market, and even create your own that works for you.

Russlenat

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Quote from: boyptc on March 19, 2024, 03:58:16 PM

Quote from: bettercrypto on March 19, 2024, 12:35:48 PM

The ones you showed OP are just a piece of reminder, though. Thank you for such things. But even you know that when it comes to the reality of human life, even though there are reminders around us, most people who can read do not actually follow such reminders.

There are only a few that we can really say implement those guidelines, and if there is anyone who follows those guidelines, it is only a few of them, and these people that we can really say really want to learn trading in this field of the crypto space.

That's a fact.

Even there have been reminders out there, many chooses not to follow those guidelines because they think that they are better than of those. It's not our problem to think of that but with their trades, they'll see what's coming and why those reminders have been made.

If someone listens to others experience, it's okay as those can be helpful to them but if they choose not to. It's not really a thing that are obliged in doing so because we're all free to follow or not or make our own strategies from our experiences.

Reminders are not actually meant to be followed all the time, though it’s helpful but we are not obliged to set them as our own rules as we can make our own rules that will fit into our trading style. Traders at some point should cultivate on their own skills and strategies, and not just to adopt what others have been doing. While there are working strategies that become an asset for most of the traders, but always know that not all strategies might work for others. This is why develop your own and use it at your most advantage.

freedomgo

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Quote from: MFahad on March 19, 2024, 04:26:17 PM

Quote from: boyptc on March 19, 2024, 03:58:16 PM

If someone listens to others experience, it's okay as those can be helpful to them but if they choose not to. It's not really a thing that are obliged in doing so because we're all free to follow or not or make our own strategies from our experiences.

A wise person would learn from their mistakes and experiences, but a wiser person would learn from the mistakes and experiences of others so that they don't have to face the same. So if someone is telling another person that they have done a certain thing and the outcome wasn't pleasing, the person listening to that should refrain from doing that thing now when he knows the outcome of that action is mostly negative.
Someone who doesn't listen to others and do things that aren't good and then faces negative consequences for their actions should be blamed for that, not because they didn't listen but because they didn't even do their research before doing it.

Learning from others mistakes in trading is actually a good guide for us so we won’t repeating their mistakes again. However, it’s a lot helpful if you learn from your own mistakes and eventually grow from it. Trading will not be master without mistakes and losses along the way, so for me I think it’s a must for us to pass that stage so we will end up learning from it.

Those successful traders these days have their own set of mistakes and losses in the past, but they use it to challenge and motivate them to grow and lead them to where they are right now.

ancafe

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Quote from: skarais on March 20, 2024, 02:19:01 PM

No one will say trading is easy, unless they are already pro traders. Even in certain circumstances, pro traders will find it difficult to make profits in the market even if they have skills in analyzing markets and the like. Trends are not always the same and changes in trends can occur at any time, especially when offers become higher at one time.

I admit that to become a professional trader you must have good trading psychology. They can learn as time goes by, but of course there are costs they have to pay, such as time and materials during the process. This means that nothing is instant.

There are many professional traders who also experience losses at certain times because it is difficult to analyze market movements. Skills can help someone minimize risk, but there is no guarantee that they will not lose money. Market changes can occur at any time and for novice traders it will be very difficult to keep up with them, especially when offers are higher. At least to understand market conditions we have to be in direct trading so we can practice the trading skills we carry out.

Before the risk becomes losing money, we should learn first before getting involved in it and to practice trading we can get involved in small trades first. The goal is so that we can be better prepared to face risks and even if we suffer a loss, we can at least recover it in the next trade.

Ricardo11

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The rules you give will play a big role during trading. If a trader can use these rules well, his chances of profiting from trading will increase somewhat, but not every trader uses these rules because every trader has his own training technique. They trade according to their temporary thinking. Besides, trading is not always profitable, trading strategies have to be changed over time.

boyptc

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Quote from: MFahad on March 19, 2024, 04:26:17 PM

Quote from: boyptc on March 19, 2024, 03:58:16 PM

If someone listens to others experience, it's okay as those can be helpful to them but if they choose not to. It's not really a thing that are obliged in doing so because we're all free to follow or not or make our own strategies from our experiences.

A wise person would learn from their mistakes and experiences, but a wiser person would learn from the mistakes and experiences of others so that they don't have to face the same. So if someone is telling another person that they have done a certain thing and the outcome wasn't pleasing, the person listening to that should refrain from doing that thing now when he knows the outcome of that action is mostly negative.
Someone who doesn't listen to others and do things that aren't good and then faces negative consequences for their actions should be blamed for that, not because they didn't listen but because they didn't even do their research before doing it.

So combining all of the resources will make someone has their own experience to learn and will have everything that's been learned and can apply that to their own trading activities.

It's not as easy as we think but most of the traders have to start somewhere and you can choose where you start and how. But as a start, don't always get into thinking that bigger pockets means bigger returns since you're not yet there.

Start small, win small, win big soon.

Ahli38

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Quote from: Denamen on March 20, 2024, 09:28:16 AM

These facts are all good to me, and I think if you can do all of it, you can make a good profit from the crypto market (of course, it will be better if you have luck and some other skills). But sometimes simple is good, and most newbies don't believe this. They don't think something as simple as that can work. But that's the way it is. Just like when you want to fit your body, you just reduce calories. Simple, but not everyone can do that, right? People know but don't do. That's the important part.

Well that's what happened. Sometimes beginners also realize mistakes and shortcomings that they have that make them lose in trading. For example, the poor control they have in controlling their emotions in trading itself. But sometimes even though they know about this, they can't easily manage their emotions straight away. And sometimes repeated errors occur. All the points in the picture conveyed by the OP are basically basic things that every trader must have if they want to be successful in trading. But yes, even though everyone needs all of that, not everyone is able to apply each of these points. And it is related to controlling emotions that is actually the most difficult. Because sometimes even people who have been trading for a long time can still get trapped and lose due to poor emotional control. Except for those who learn from the experience they have in the market.

skarais

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Quote from: ancafe on March 20, 2024, 01:10:26 PM

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

~~~

Psychologically disturbed when a beginner gets involved in trading and ends up losing a lot of money when they want to trade. Controlling risk is not as easy as it sounds because when it comes to losing money there are many problems that can affect a person's psychology. Trading is not easy to carry out if someone does not have good knowledge and most beginners are involved in trading because their habits are influenced by the desire to make money quickly. That's when their psychology is disturbed because they think too much about how to make big profits from the trading activities they do.

Trading can be learned in a relaxed manner and one can engage in it responsibly by using small amounts of money as an effort to practice experience. If people gain experience, they can add a slightly larger budget for the trading activities they carry out. Control risks so that we can maintain psychological safety to lose a lot of money in trading.

No one will say trading is easy, unless they are already pro traders. Even in certain circumstances, pro traders will find it difficult to make profits in the market even if they have skills in analyzing markets and the like. Trends are not always the same and changes in trends can occur at any time, especially when offers become higher at one time.

I admit that to become a professional trader you must have good trading psychology. They can learn as time goes by, but of course there are costs they have to pay, such as time and materials during the process. This means that nothing is instant.

ancafe

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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.

Psychologically disturbed when a beginner gets involved in trading and ends up losing a lot of money when they want to trade. Controlling risk is not as easy as it sounds because when it comes to losing money there are many problems that can affect a person's psychology. Trading is not easy to carry out if someone does not have good knowledge and most beginners are involved in trading because their habits are influenced by the desire to make money quickly. That's when their psychology is disturbed because they think too much about how to make big profits from the trading activities they do.

Trading can be learned in a relaxed manner and one can engage in it responsibly by using small amounts of money as an effort to practice experience. If people gain experience, they can add a slightly larger budget for the trading activities they carry out. Control risks so that we can maintain psychological safety to lose a lot of money in trading.

husencoe

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

I totally agree with what you said OP. Many beginners forget about what to do after entering the market, and many do not even prepare before entering it.

I think the images you share are very useful for beginners, even for me specifically. That picture made me remember when I was still a beginner in trading and I felt stuck when entering the market. I just hope the price will rise someday, but in reality we can't force the market and cause me to lose.

The most important point for me in the picture is that always make your trading plan, this is about where you will enter and where you should exit the market. Then is always record your trading history, so you can evaluate your trading results at any time and change methods if you get fall. And always make a stop loss when you are not too sure about the market.

Denamen

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These facts are all good to me, and I think if you can do all of it, you can make a good profit from the crypto market (of course, it will be better if you have luck and some other skills). But sometimes simple is good, and most newbies don't believe this. They don't think something as simple as that can work. But that's the way it is. Just like when you want to fit your body, you just reduce calories. Simple, but not everyone can do that, right? People know but don't do. That's the important part.

Nheer

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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.

People need to understand that trading is not something they can just venture into unless if they are ready to lose their money. Even trading experts will not advise people to begin trading without knowing about it and even while having some knowledge about it that doesn’t guarantee 100 percent success rate, is their even a thing like 100% success rate in trading? I don’t think so, having knowledge will just simply minimize the risk and chances of losing money.

Trading should be first studied properly as a course because of it’s complexity and many terminologies that needs understanding and also understanding the the tips and guidance provided is also as necessary if a person wants to increase his chances of becoming a successful trader but most new traders would want to skip the learning process not knowing how risky it would become for them ahead, trading needs to be approached with utmost caution because people lose more money than they actually make profits.

Kelward

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Thanks to the OP for sharing these important tips to guide traders to minimize loses, without aquinting oneself with the knowledge of trading and applying this essential tips that are shared in the OP, then the trader is good as gambling their trading capital. Due to the economic hardships that are being experienced in many countries, people are looking for alternative means of making money and they hear about crypto trading, thinking that it's a get rich quick scheme, and enter without adequate knowledge, then they'll lose all their money due to inexperience, so it's very important for new traders to understand that trading is hard and they need to learn essential tips like the ones that are shared in this thread.

Kelvinid

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Well, the fun thing is that we all commit mistakes before we realize that we are wrong. Meaning, we lose first before we earn and succeed.
That is no wonder why not all traders become successful due to wrong trading behavior and practices. All these things OP are not just for new traders but for the general and I was sure that even old traders are still in some of these wrong practices.

After all, the future of our trading career lies in our hands as we can't blame the market volatility nor do we have a lack of knowledge because all the information and trading tools are available already. But what most traders do is against the proper way of trading.

Patrol69

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The images you shared for trading are definitely important and every new trader should know about these things but most of the new traders who are new traders don't give much importance to these things rather they claim themselves as a trader by just buying a coin. Trading is not that easy at all, in terms of trading, how much I understand about the market, how much I have a prior plan and how much risk I can take and how much my money will be at risk if I trade, then a trader has to decide on this. Trading is not only done by buying a coin by looking at the profit of others but also by trading in this way one can face huge loss of money. So the newbies and those who are interested in trading should be careful about it in advance and should study enough and then start trading so that the risk of their money will be reduced.

tygeade

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Quote from: Dave1 on March 19, 2024, 09:14:54 AM

I don't know if there is like a sticky for new traders to follow. For me it might be better if there are no rigid set of protocols for them. Just go with the motions and have some fun when you are a beginner and see how it goes for you.

And maybe if you gain that experience then that is the time that you will go back in your notes and see what might be the success for you or what you have to do to improve your trading and to make money. So time and money is absolute to make more money, in my humble opinion.

That is true, people should be focusing on getting better, and there are many methods that you can use to get better as well, I believe that if you use them all and try to find out how you could get better then you are going to be doing fine. I know that it is going to take a while, but it has to be something that takes a bit of a risk, if you can take that risk then you should be fine in the end. I know that a lot of people do not take that risk and because of that they are doing poorly.

So, when you combine a bit of risk and a lot of learning together, the mixture creates a great trader eventually, the biggest problem there is that it takes a while for you to get a result that will lose you money, that is the important part.

Hypnosis00

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Indeed, all of it is worth remembering but unfortunately, most traders especially newcomers have seemed impossible it to work and this is because of the lack of emotional control. And this is one big factor that affects our trading journey and the most common reason why we fail. That is why we ain't see all traders who try had succeeded but instead, we see a lot (majority) had failed for some reason.

In trading, there are a lot of things to consider;
- the way we responded on the current market situation
- market approaches
- mind control
- fund management

MFahad

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Quote from: boyptc on March 19, 2024, 03:58:16 PM

If someone listens to others experience, it's okay as those can be helpful to them but if they choose not to. It's not really a thing that are obliged in doing so because we're all free to follow or not or make our own strategies from our experiences.

A wise person would learn from their mistakes and experiences, but a wiser person would learn from the mistakes and experiences of others so that they don't have to face the same. So if someone is telling another person that they have done a certain thing and the outcome wasn't pleasing, the person listening to that should refrain from doing that thing now when he knows the outcome of that action is mostly negative.
Someone who doesn't listen to others and do things that aren't good and then faces negative consequences for their actions should be blamed for that, not because they didn't listen but because they didn't even do their research before doing it.

Topic: New trader's must remember it. - page 5. (Read 1621 times)