New trader's must remember it. - page 6.

GeorgeJohn

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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.

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

People will always be interested in threatening but they don't know the fundamental or functions of trading under that is why so many of them lose attention are interests in trading because they have not research they have not always have also and I have not making injuries concerning trading before ventured into it, that's one of the major thing that makes people to loss mostly in cryptocurrency investment even in trading, you have to learn and understand the concept of trading before you go into it.

boyptc

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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.

Ahli38

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Of all the points in the picture, I think the ones that cause beginners to experience defeat the most are two things, namely not being able to control emotions in trading, such as not being able to control fear and greed and secondly, many people don't trust their own analysis. Because beginners sometimes believe more in the free signals shared by a group on Telegram or other social media. Or even they are easily influenced by influencers and become fomo in the end. And yes, FOMO occurs as a result of poor control of our emotions when we are in the market. Technical, fundamental and sentimental analysis can actually be studied quite quickly, but trading psychology and emotional management are the most difficult. Because experience will be more useful in providing lessons on these two things. I hope all beginners don't get FOMO when the market is green and don't become people who get scared when the market turns red. Most beginners take the opposite step in responding to market volatility.

KingsDen

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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.

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

This is a very nice and interesting infographics. If an average Jonny follows this information in their learning journey, they could be successful. But then, most times some of these instructions when followed strictly is misleading. Take for instance, there's an instruction that says, Trust your analysis. It is nice to be dynamic. If your analysis is going wrong, simply make changes. Also, it could be dangerous that you change your strategy prematurely and it finally plays. The market is dynamic and I feel that there's no special way to achieving success than just being as dynamic as the market and being open to learning.

bettercrypto

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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.

Dave1

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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.

TheUltraElite

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So anyway, I applied as a merit source :)

I must say that traders and how they should trade, topics have been discussed every now and then and everyone comes up with their version of it but the general idea remains same. This only shows how difficult trading is as a continuously done endeavor and that most people end up losing more than what they profit.

People should trade in real after they are done dummy trading and try to avoid day trading and focus more on long term holding. Still someone out there might profit from the opposite of what I said and that can also be correct in a situation.

shawonngp

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Quote from: lalabotax on March 18, 2024, 04:55:05 PM

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.

Beginners in crypto, who as soon as they dive into the world of crypto immediately trade without preparation, it is not recommended, highly not recommended. Preparation is not only about money, but also about the knowledge you have, and also mental and psychological readiness. You are right and I totally agree with this. Because trading is a high risk thing, we should prepare ourselves wisely, don't just follow other people who are successful in trading.

But unfortunately, many people say, it's not a problem, because learning by doing. That makes sense, but even though you are learning by doing, you still need to have at least some basic knowledge and also mental readiness so as not to cause too much damage to the results and the impact later.

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.

Barikui1

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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.

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

To me actually, most of the key points listed on the diagram are valid, but there are few things I was looking up to which would have made the rules on the diagram perfect, but they are not there, it was only risk management that stands out too me.

I was thinking that the diagram would have contain over leveraging and knowing when to stay off the market, as easy as it may sound, if you can be able to control your emotions, manage your risk properly, knowing when to stay off the market and not using too much leverage, then I think you are good to go, and you will come out of the market unscathed.

Dzwaafu11

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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.

The main reason that make traders loose is not only psychological reasoning, did you know that only technical analysis cannot make trader money? because is not only technical analysis that involve in trading, but many traders did also are no get back to their sense if they did not lose. and the picture you posted many traders are not following those steps. if not, it will be good for them if a trader is able to learn the fundamentals of trading and getting their own method of trading believe me they will get money from their trading journey but not all of them want to do that anymore greed have affecting them whereas the knowledge is the most important thing they need first before entering the market.

Lantind

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Quote from: MFahad on March 18, 2024, 10:09:41 PM

Someone needs to gain knowledge first before they get into trading because, without that, you can't do anything. You can't go to war without a gun, and trading without knowledge is just like going to war without having a firearm, and if you do that, you will most likely get killed in no time.
So if you are in the cryptocurrency market, and you want to trade and earn money, you have to learn the process first, don't be in a hurry because when you are in a rush, you will most likely be driven by your emotions and your emotions will make you take a lot of wrong steps and make wrong decisions.

Having knowledge about trading is of course the most important thing for someone who wants to enter trading and also they must have capital to be able to trade and those who trade without knowledge of course they will be very unlikely to make a profit because they don't know how to make a profit from it. the trade.

Yes, you are right, of course before someone decides to trade of course they must first learn it and must have patience in each learning process to be able to get good results in trading and also controlling emotions is of course an important thing when trading so as not to make decisions what went wrong in the trading we did.

MFahad

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Quote from: Sorryfor on March 18, 2024, 12:32:39 PM

I think the most important thing as a trader is to know and gain knowledge on this subject. Because trading is not a very easy thing, the worst part of it is that you can lose a lot of money by your wrong decisions. So it is quite important to analyze the cryptocurrency market and wait for the right time to trade Also you must trade according to your money And it is not right to rush in trading. So take lots of time to learn and trade in small increments.

Someone needs to gain knowledge first before they get into trading because, without that, you can't do anything. You can't go to war without a gun, and trading without knowledge is just like going to war without having a firearm, and if you do that, you will most likely get killed in no time.
So if you are in the cryptocurrency market, and you want to trade and earn money, you have to learn the process first, don't be in a hurry because when you are in a rush, you will most likely be driven by your emotions and your emotions will make you take a lot of wrong steps and make wrong decisions.

Maslate

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Quote from: GreatArkansas on March 18, 2024, 02:03:29 AM

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

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.

The first one (Control Emotions) and Manage Trade Risk is for sure the most relatable experience that most traders experience not even new traders but even those who have already been in the market for a long time, even me.
Other things in the picture are important also because if your goal is to become profitable trader, you must posses them all.

They seem too basic to follow but when we are trading using our hard-earned funds, they’re actually harder for us to execute. Controlling emotions alone has never been easier since majority of the traders are greedy for quick profits, most particularly for newbies who have never gained trading experiences in the market. Traders often lose because they fail to control their emotions, and until they won’t be able to manage high emotions, success in trading will be far to achieve.

Volimack

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It is very easy to say that to become a trader you must first know the market basics. In basic you learn things slowly without any rush stop thinking of becoming a big wise man by learning all the subjects in one day. You have to give up the idea of quick gain and learn to gain slowly by building experience. First master the subject well and gain experience. The more time you spend in any career not just trading the more profitable you will be.

lalabotax

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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.

Beginners in crypto, who as soon as they dive into the world of crypto immediately trade without preparation, it is not recommended, highly not recommended. Preparation is not only about money, but also about the knowledge you have, and also mental and psychological readiness. You are right and I totally agree with this. Because trading is a high risk thing, we should prepare ourselves wisely, don't just follow other people who are successful in trading.

But unfortunately, many people say, it's not a problem, because learning by doing. That makes sense, but even though you are learning by doing, you still need to have at least some basic knowledge and also mental readiness so as not to cause too much damage to the results and the impact later.

Bloodseekers

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Quote from: Sorryfor on March 18, 2024, 12:32:39 PM

I think the most important thing as a trader is to know and gain knowledge on this subject. Because trading is not a very easy thing, the worst part of it is that you can lose a lot of money by your wrong decisions. So it is quite important to analyze the cryptocurrency market and wait for the right time to trade Also you must trade according to your money And it is not right to rush in trading. So take lots of time to learn and trade in small increments.

Knowledge about trading is very important when someone decides to trade, because if they don't have the knowledge they will certainly carry out analyzes that are not based on the knowledge they have and it is very likely that they will fail when trading, using capital according to what we can afford is certainly a very important thing. It's important to be able to try again when we fail in the trades we make, because if we continue to try with large capital even though we don't have much experience in trading, of course this is a very big risk of loss that we will incur and we will also lose all the money we have. have and cannot return to correct our mistakes in the trades that we will try again.

Taking the time to study would certainly be better if we don't want the many failures we will experience when trading and we must be able to be patient in each learning process that we learn to be able to get profitable results for us.

taufik123

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Quote from: GreatArkansas on March 18, 2024, 02:03:29 AM

The first one (Control Emotions) and Manage Trade Risk is for sure the most relatable experience that most traders experience not even new traders but even those who have already been in the market for a long time, even me.
Other things in the picture are important also because if your goal is to become profitable trader, you must posses them all.

Emotional control when trading is the most difficult, where when trading we have to everything right.
When the market is out of control and predictions are not entirely correct, emotions will be at play and of course it will affect how our next decision is.

Sometimes those who are too panicked even do cut losses without any planning, and don't even buy again, which in the end will only get losses.
This is also because of the hype and FOMO going on in the market, there are many who lose hundreds to millions of dollars due to too FOMO on some shitcoin hype.
Professionals do not guarantee a person avoidance of losses, it will definitely happen to anyone.

Sorryfor

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I think the most important thing as a trader is to know and gain knowledge on this subject. Because trading is not a very easy thing, the worst part of it is that you can lose a lot of money by your wrong decisions. So it is quite important to analyze the cryptocurrency market and wait for the right time to trade Also you must trade according to your money And it is not right to rush in trading. So take lots of time to learn and trade in small increments.

Monarch B

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Quote from: GreatArkansas on March 18, 2024, 02:03:29 AM

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

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.

The first one (Control Emotions) and Manage Trade Risk is for sure the most relatable experience that most traders experience not even new traders but even those who have already been in the market for a long time, even me.
Other things in the picture are important also because if your goal is to become profitable trader, you must posses them all.

I hope so. Thanks for your kind words.

GreatArkansas

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

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.

The first one (Control Emotions) and Manage Trade Risk is for sure the most relatable experience that most traders experience not even new traders but even those who have already been in the market for a long time, even me.
Other things in the picture are important also because if your goal is to become profitable trader, you must posses them all.

Topic: New trader's must remember it. - page 6. (Read 1621 times)