New trader's must remember it. - page 7.

Monarch B

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Quote from: Assface16678 on March 16, 2024, 03:43:53 AM

Believe it or not, not all traders follow the steps or instructions in the picture, especially those new to trading, but they will eventually learn the truth by experiencing the hardship or losing in trading if they will actually continue trading even if they experience the loss on their first try at trading.

Trading or day trading is not an easy thing because you will experience anxiety wherein you can't be comfortable because you know you have open trades, which may result in monitoring your open trade throughout the day, which could affect your decision. If traders will actually follow the steps or instructions in your picture, then maybe they can be a profitable trader, but of course it still depends on their knowledge and how they can make a good trade analysis. This kind of topic is discussed numerous times in this forum, but the thing is, if this kind of advice doesn't reach those traders that don't lurk here, then how can they know what they should do?

First of all they have to master a subject and study a lot in that subject. Trading is really an uncertainty.

It is actually very difficult to do well here and excel in it. I know this has been discussed a lot before so I thought I'd share my experience since I'm new to trading.

BD Technical

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All the things you talked about brother is not judging everything is ok because of you. If you want to chat, you need to think about these things because if you have more emotions then your trade will not work depending on that. Those who have managed to control their emotions have achieved success in life because if you show mission or you play loss then you will take more trades you will be more likely. You will see that you have juiced first your profit comes then you start slowly on the train or train for the day then your emotions will be controlled and your pro video will start coming. If you can't control your emotions or you don't have general basics or general knowledge then you won't come here bro because you have general knowledge you can earn these things and by looking at your basics I understand that you have a lot of knowledge and you have I could learn a lot by looking at the knowledge. But bro I was on the train for some time but later I got out of it because I started taking a lot of losses.

shinratensei_

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these are very common tips but very effective one and should be followed by newbie traders, the thing with newbies are that they usually ignore very basic trading advices and that resulted in loss.
there are so many newbies that are trading that uses their gut to trade randomly thinking they are lucky but ended up losing, trading is not purely game of luck on its own it also can be contributed by many factors that could further influences the result of the trades even though most of the time the market movement is kinda unpredictable and could be called game of luck most of the time and that there's nothing wrong with it anyway but my point being some people should know when the right time to buy and when the right time to take profit.

the advices above are a good example, sometime newbie don't even respect stop loss as well even though it could save themselves from losing so many capital caused by flash dump.
it even more consequential when we are trading future leveraging with high amount slight dumping might cause you to lose your entire capital its always better to have some security measure and
there's certainly nothing wrong with having one even in spot trading.

mirakal

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Quote from: Queentoshi on March 16, 2024, 10:32:05 AM

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

These are the general spoken rules, how about the unspoken rules that new traders need to know. Some of these unspoken rules will never be known unless a new trader is in close contact with an experienced trader who has been trading for a longer time. These rules may differ from one trader to another depending on the level of expertise and the experience that the trader has. So as a new trader try not to become conflicted with many rules from different traders who have different experience, pick one trader as mentor, and then follow their unspoken rules and strategy to trade. The unspoken rules even matter more than the general spoken rules.

Even following these general rules won’t guarantee profitability in trading. Because admit it not, rules are not actually made to maximize trading profits, but it’s made to control our losses and lessen it as much as we can. That’s why experienced traders have come up with their own unspoken rules. But still, their own rules won’t guarantee that it will also work for others, as individual trader has certainly its own rule that only works only for his own trades.

And yes, I have to agree with you, the only way for beginner traders to highly succeed in trading is to find an experienced mentor that will open him to a lot of unspoken rules in trading. They may not be known by majority, but we all know each trader has certainly its own set of rules to be follow in trading, it’s up for us how we will execute them individually.

Hamza2424

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Hmm, these are some of the common tips that are frequently and recurrently shared in this section but its fact memorizing them, again and again, is important because whenever you are gonna miss any of them you are gonna hit hard by the market and I'm quite sure and everyone will agree with me.

At the same time I would like to add something to this, weather it's a meme coin weather its Bitcoin or weather any other ALT in which you are trading follow a golden principle of bot trading means no emotion and, when it hits your target in profit never look back because from that greed you are gonna lose everything, don't regret if your target was 5$ or X amount and you booked and now it son 10$ 15$ or any Y amount because this market you never know the top you should need to be happy that you booked your target.

batang_bitcoin

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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.

It's because the psychology with trading is that most of them think that it's quick and easy money. And that's why many people jump in on the bandwagon of trading thanks to the influencers that are showing their results. They think that it's the best way to make money easily and will make them rich. While half of it is truth and half of it should embrace the reality of how hard it is.

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.

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

Every wrong belief will be realized by those traders that want to excel on this business because it's not just a simple activity and it's a real business that anyone can learn from most of their mistakes.

Faisal2202

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You have shared a good post here although that's not all the the things that a trader must remember but its ok for a newbie. Because most of the newbies are not technical traders and they trade on fundaments. So these 9 tips the images have, are fundamentally the good ones. Besides I don't agree with the tip, to trade your plan. Because the successive tip is to make a plan. This means you first analyze the market on the basis of the knowledge you have. Then stick to that plan as the tip suggests to trade your plan.

This is not healthy for your portfolio because sticking to the plan can sometimes cause huge losses and if that plans will be a little late then the schedule then the whole plan might not be reliable to follow so in that situation you should have the knowledge when to exit the market, and when to book the profit, how much profit you should book. etc.

hugeblack

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Quote from: tbct_mt2 on March 16, 2024, 07:00:47 AM

Perfectly, we can stay outside the market, observe it and when we see people are fearful, panic, we can wait for their panic to reach higher and higher till time they feel calm, we can step in and trade shortly then exit the market.

FOMO is bad as it usually leads to unstable psychology and wrong decisions with money.

Everything you mentioned is related to the psychological aspects of trading, specifically the FOMO effect, but trading is greater than the psychological aspects, which can be easily overcome by automating trading using a trading bot, conducting trading instructions for a day or a week, and only a few on the weekend, with the entire week remaining away from trading, and the trading bot does Everything on your behalf.

Learning to trade is more than the psychological aspects and requires knowledge of the basics of trading, trading indicators, following the news and verifying its authenticity, and accessing information sources that help you know the price trend.

deathcode

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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.

2Pizza410000BTC

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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.

There are certain trading strategies that a trader can follow to be successful. You may have expressed those tricks through pictures but I am telling them here in my own words. A trader can never be too greedy When a trader is too greedy on a trading platform he will lose money in his trading. Never trade with emotion on trading platform When a trader trades with emotion he will lose money on trading platform. I am proof of this two days ago I started trading with TIA in the first stage I made a lot of profit in my trading in a short time I don't know when I got so greedy that I didn't sell my trading. Now I have lost 300 plus in my trading because I didn't sell my trading so I say never be too greedy in trading platform when a person is too greedy in trading platform he will lose his money.

boty

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Quote from: Queentoshi on March 16, 2024, 10:32:05 AM

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

These are the general spoken rules, how about the unspoken rules that new traders need to know. Some of these unspoken rules will never be known unless a new trader is in close contact with an experienced trader who has been trading for a longer time. These rules may differ from one trader to another depending on the level of expertise and the experience that the trader has. So as a new trader try not to become conflicted with many rules from different traders who have different experience, pick one trader as mentor, and then follow their unspoken rules and strategy to trade. The unspoken rules even matter more than the general spoken rules.

Yes, of course they have to understand well the general rules and unwritten rules of course we have to look for them from those who have experience in trading of course we can ask them about this, because of what they get from their trading of course there are things we can't get, there are written rules, so it is important for those who want to start trading to have someone who has experience in trading so they can follow their steps in trading in order to be successful in the trades they are going to carry out.

mindrust

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Why even trade? Just buy and hodl. DCA your position. It is easier this way. It is like trading too in a way. You just don't sell and take the risk of losing your coins. Every time you make a trade, you risk your position. Your next position may or may not be better than your last one but it is a gamble in the end. Why take that risk? Instead just grow your position by adding more coins. One way or another, it will return you great profits. BTC has been doing it for years. Even the people who bought in 2021 when btc was at its ATH made some profits during the last bull market. They did even better if they DCA'ed their position. You can follow the same strategy.

AnonBitCoiner

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All these rules plays an important role in the success of a traders and if a person has emotions under his control then he can smoothly continue his success without fear in his heart about failure. If a person know that trading is not giving him much return then he should not chase his losses but should stop trading for some time otherwise non stop trading will put him in stress.

Keep all those strategies in your mind and use it when needed because and if someone think that he has money so without learning and using strategies he can win then he is a fool because money is used just for enhancing money only when you are able to do so.

|MINER|

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If one strictly follows these instructions, he will do very well in trading. But I don't think anyone follows these instructions or rules properly. But a newbie must follow these rules. No one can succeed in trading without following these rules. Trading is also very difficult to master. It is not that simple. Therefore, if you do not follow the right direction, it will not be possible to achieve success in trading. To start trading you must be very patient and have a strong mind. Trading is not possible with weak morale.

Queentoshi

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

These are the general spoken rules, how about the unspoken rules that new traders need to know. Some of these unspoken rules will never be known unless a new trader is in close contact with an experienced trader who has been trading for a longer time. These rules may differ from one trader to another depending on the level of expertise and the experience that the trader has. So as a new trader try not to become conflicted with many rules from different traders who have different experience, pick one trader as mentor, and then follow their unspoken rules and strategy to trade. The unspoken rules even matter more than the general spoken rules.

Viscore

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Quote from: hugeblack on March 16, 2024, 04:52:03 AM

Even following these tips will not make you a professional trader because they are theoretical words and there is no basis for real action, such as saying to lazy students, “Study and you will get an amazing result, stop watching TV, spend time with friends, and go to the library.” But even if he did that without knowing how to study, he will not get good results.

Therefore, trading requires learning, and in order to learn, you must create demo accounts on which you can try out your trading plans and learn how to apply what you learn or see from technical analysis, and then start preparing your own plan, test it, and finally start learning trading step by step.

The thing you must understand is that trading is not a full-time job.

These tips cannot guarantee successful trading as the trading market can still be uncertain, however, if you try to follow all these basic steps, I believe this will limit your trades from falling into failure and losses. Although trading is all about learning by doing, but following some guidelines can also help you not to end up with too much losses from trading.

Trading is hard and highly risky, hence you have to make long term planning before you engage in trading. While knowledge is crucial, but having skills in creating reliable market analysis is more vital. Trading can be uncertain but we all know with knowledge and experience in the market, we can always tend to lessen the risk and make our trading outcome more certain.

tbct_mt2

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Quote from: hugeblack on March 16, 2024, 04:52:03 AM

Even following these tips will not make you a professional trader because they are theoretical words and there is no basis for real action, such as saying to lazy students, “Study and you will get an amazing result, stop watching TV, spend time with friends, and go to the library.” But even if he did that without knowing how to study, he will not get good results.

Therefore, trading requires learning, and in order to learn, you must create demo accounts on which you can try out your trading plans and learn how to apply what you learn or see from technical analysis, and then start preparing your own plan, test it, and finally start learning trading step by step.

It is easier to think you can do it than you can actually do it in practice.

Trading is difficult and challenging for psychology and the meme in OP is right but to actually achieve it in trading, daily trading to emphasize, it is very hard. Your psychology will be tested many times by the market, day by day, and it is hard to survive after many tests.

Perfectly, we can stay outside the market, observe it and when we see people are fearful, panic, we can wait for their panic to reach higher and higher till time they feel calm, we can step in and trade shortly then exit the market.

FOMO is bad as it usually leads to unstable psychology and wrong decisions with money.

Quote

The thing you must understand is that trading is not a full-time job.

I agree with you but newbies usually think they can get rich with trading, daily trading and consider trading as their full-time job.

Yamifoud

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There are simple rules that novice traders must keep in mind,
- start with a small amount
- learn to take small profits
- don't be afraid to make mistakes

They are in the state of learning, so we understand their curiosity and losses which is also a part of their learning. They can learn many things as they continue doing this which is why they should not think first about earning huge and success instead, they focus on enhancing their knowledge.

Negotiation

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Common sense is the most important thing in most trading. Because you often have to decide very quickly that you will take the next decision and based on that your profit and loss will be determined. But it seems to me that the images you have shown as examples are not followed by most traders, because most of them try to present their arguments with contemporary thinking. So it seems to me that contemporary thought plays the most active role.

hugeblack

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Even following these tips will not make you a professional trader because they are theoretical words and there is no basis for real action, such as saying to lazy students, “Study and you will get an amazing result, stop watching TV, spend time with friends, and go to the library.” But even if he did that without knowing how to study, he will not get good results.

Therefore, trading requires learning, and in order to learn, you must create demo accounts on which you can try out your trading plans and learn how to apply what you learn or see from technical analysis, and then start preparing your own plan, test it, and finally start learning trading step by step.

The thing you must understand is that trading is not a full-time job.

Topic: New trader's must remember it. - page 7. (Read 1620 times)