Newbie trader be like - page 4. | Bitcointalksearch.org

Wapfika

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Quote from: Jercyhora2 on November 09, 2019, 08:08:42 AM

I waste lot of money on trading. Without planning I lost every trade which mostly the problem. By the way it's only trial but I didn't want to stop.

Making plans is needed to have successfull trade. Without plan, you're giving away your holding out of you. The one lesson I learned about trading is plans is very important. At the same time patience.

Acknowledging tha you have learned in your decision is a good sign for progress and to continue trading. Not all newbies have the courage to continue on e they lost and failed, keep learning and trying know the basics and don't be in rush, trading have process and requires time.

key4co.in

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Quote from: Jercyhora2 on November 09, 2019, 08:08:42 AM

I waste lot of money on trading. Without planning I lost every trade which mostly the problem. By the way it's only trial but I didn't want to stop.

Making plans is needed to have successfull trade. Without plan, you're giving away your holding out of you. The one lesson I learned about trading is plans is very important. At the same time patience.

Newbie traders usually lose more funds initially when they do not understand the basics of trading. Even if you are not so good with Technical analysis, at least trade with some FA and always use stop loss. Some new traders do not bother to do research. Some keep following buy calls from pump channels which most times always have a negative result since even if the coin is pumped for real, dumping fast before those behind the pump is always very difficult. If you don't plan well, or lack proper risk management and strategy, you will always regret trading. For instance, a trader who doesn't use stop loss is taking a very big risk.

airdnasxela

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That's a pity but I think that's just normal especially for beginners since they're still learning and gaining knowledge. That's a common problem and issue we experience when starting. Very disappointing but acceptance and learnings based on experience will do.
Trading is not as easy as it is, you need to learn first how it works and how to make it profitable for you. Just like what you've said, planning is always need not only in trading but almost everything you do as well.

Xcode7

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that experience is valuable if you aim to find out more about daily trading. your flight time will be faster if you always bride a mistake before, and do not let the mistakes that occur repeatedly as before

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Quote from: Jercyhora2 on November 09, 2019, 08:08:42 AM

I waste lot of money on trading. Without planning I lost every trade which mostly the problem. By the way it's only trial but I didn't want to stop.

Making plans is needed to have successfull trade. Without plan, you're giving away your holding out of you. The one lesson I learned about trading is plans is very important. At the same time patience.

Most novice traders experience the same thing as you, including me too. until now I am still learning, and I consider trading to be my new hobby. so I am challenged to keep learning about the market. I'm sure one day I will understand the market and get a consistent profit

Obito

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Quote from: Jercyhora2 on November 09, 2019, 08:08:42 AM

I waste lot of money on trading. Without planning I lost every trade which mostly the problem. By the way it's only trial but I didn't want to stop.

Making plans is needed to have successfull trade. Without plan, you're giving away your holding out of you. The one lesson I learned about trading is plans is very important. At the same time patience.

Glad you are aware of such thing. Now you that you know what to do, stick with it, do what is on the plan and avoid trying on other stuff you are not even familiar of. And as well add this, always remember to set a certain quota of profit or if you don't mind leave it, but do not take this off set a quota of loss to just avoid severe losing. As well it is okay that other got one more step of ahead you, because you can attain what others did. Lastly invest a thing you can afford to lose.

Aabcde

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At least you become more mature in trading. It doesn't matter if your money is wasted if you get the lesson. A pro also must have a loss sometimes but he must set how much loss he should get. Do not let the assets eroded away because it does not set cutloss.
I still vividly remember the first trading in crypto, I only relied on feeling, reading a little. Although there is no loss, there is always anxiety. Gradually I began to understand how to trade well. Hopefully, you also find your own way of trading.

Mighty_crypt

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Quote from: Jercyhora2 on November 09, 2019, 08:08:42 AM

I waste lot of money on trading. Without planning I lost every trade which mostly the problem. By the way it's only trial but I didn't want to stop.

Making plans is needed to have successfull trade. Without plan, you're giving away your holding out of you. The one lesson I learned about trading is plans is very important. At the same time patience.

If you think you can learn trading without losing you are fooling yourself, i don't bother to learn further because i just don't get how to trade, the surest way to earn while trading is when bullrun just starts

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Quote from: Casdinyard on November 09, 2019, 09:15:35 AM

Quote from: Jercyhora2 on November 09, 2019, 08:08:42 AM

I waste lot of money on trading. Without planning I lost every trade which mostly the problem. By the way it's only trial but I didn't want to stop.

Losses is somehow fated on traders and sadly we could just learn along with waste of money and the least we could afford is the experience and knowledge that we can get through it.

Making plan is great but that doesn't guarantee a 100% success and so trial and error. While reading and researching a lot could help but nothing beat on first hand experience, that would be the best mentor ever.

Agreed, having losses are only natural on the first try, but I don't see a reason why OP started trading without planning after his trade. But it is fine, actually, the experience is the key to realize the mistakes that have been made in the past.
There is no expert trader that never made a mistake on his first trade, every failure should be the reason for every trader to grow as a better trader in the future.

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Quote from: Jercyhora2 on November 09, 2019, 08:08:42 AM

I waste lot of money on trading. Without planning I lost every trade which mostly the problem. By the way it's only trial but I didn't want to stop.

Making plans is needed to have successfull trade. Without plan, you're giving away your holding out of you. The one lesson I learned about trading is plans is very important. At the same time patience.

I hear you, i remember my first crypto trade, it was classic buying the top. I had to take several steps back and make few other rookie mistakes, but building that plan needs a base to build it on, you can either use just TA or TA with fundamentals, but with fundamentals you need experience to weed out the irrelevant projects faster.
Only problem is that and experience comes trough mistakes so that will cost a lot.
I still make mistakes, but these days i see them as in expensive lessons.

Jercyhora2

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Quote from: Nadziratel on November 09, 2019, 09:08:12 AM

Quote from: Jercyhora2 on November 09, 2019, 08:08:42 AM

I waste lot of money on trading. Without planning I lost every trade which mostly the problem. By the way it's only trial but I didn't want to stop.

Making plans is needed to have successfull trade. Without plan, you're giving away your holding out of you. The one lesson I learned about trading is plans is very important. At the same time patience.

Patience is the key. But more patience may create a stupidty.
For example. I am holding NPXS for a while. I bought my first NPXS when it decrease 40 satoshi. Then I wait... wait wait... It fall to 10 satoshi.
I had to make a choice. Wait for pump or sell and run! I sicked of waiting NPXS anymore and I sold it even if I was in loss. And I am happy now.

So patience is the key but you have to learn when you be patience or not.

I'm studying scalping, I prefer to it most because every wave, fluctuations are opportunity whether it's big pump o small. And also I learned that both ups and down is good. We also need dumps for us to buy again at the low price. Maybe try to do scalping too, for you to learn and also to earn.

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Quote from: Jercyhora2 on November 09, 2019, 08:08:42 AM

I waste lot of money on trading. Without planning I lost every trade which mostly the problem. By the way it's only trial but I didn't want to stop.

Making plans is needed to have successfull trade. Without plan, you're giving away your holding out of you. The one lesson I learned about trading is plans is very important. At the same time patience.

Start trying without any knowledge is really bad mistake,you are going to spend real money for the lessons,which can be lessen if you did this before begin the trading career even the you can get trial on lot of free trading simulators which works same as the real trading but with free money.

Ailmand

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The first trade I did was tragic. I had lost almost around $400 dollars investing out of FOMO since most of my friends had doubled their money in a certain coin a few years ago. To make it worse, when I created a wallet for that coin, I wasn't able to save the file for the wallet and completely had lost access to it. That is why making sure to know what you are getting involved before investing is a must. A lot of newbies commit mistakes during their trades because of misconception in tradting that it is an easy way to earn money.

Casdinyard

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Quote from: Jercyhora2 on November 09, 2019, 08:08:42 AM

I waste lot of money on trading. Without planning I lost every trade which mostly the problem. By the way it's only trial but I didn't want to stop.

Losses is somehow fated on traders and sadly we could just learn along with waste of money and the least we could afford is the experience and knowledge that we can get through it.

Making plan is great but that doesn't guarantee a 100% success and so trial and error. While reading and researching a lot could help but nothing beat on first hand experience, that would be the best mentor ever.

dimonstration

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Plan should be done before moving, without a plan you'll get lost and may not made a right decision. While it is normal for newbies but it can lessen the lost if the plan is made before trading. When I join crypto all my plan is for btc eth only since it's only what I understand. Then slowly studied the others.

Nadziratel

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Quote from: Jercyhora2 on November 09, 2019, 08:08:42 AM

I waste lot of money on trading. Without planning I lost every trade which mostly the problem. By the way it's only trial but I didn't want to stop.

Making plans is needed to have successfull trade. Without plan, you're giving away your holding out of you. The one lesson I learned about trading is plans is very important. At the same time patience.

Patience is the key. But more patience may create a stupidty.
For example. I am holding NPXS for a while. I bought my first NPXS when it decrease 40 satoshi. Then I wait... wait wait... It fall to 10 satoshi.
I had to make a choice. Wait for pump or sell and run! I sicked of waiting NPXS anymore and I sold it even if I was in loss. And I am happy now.

So patience is the key but you have to learn when you be patience or not.

Doell

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without a plan anything can be detrimental , trader needs a lot of lessons including planning and patience not only that mate a trader must also have a deep understanding of the situation or conditions that are in the price pattern ,experience is more important than so you will not fall as you have occur

o.ogurlu

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You have to be very careful to trade in the crypto market. It is necessary to good follow a market that changes quite suddenly. And you also need to be informed about selected coins for trade. Trade can be very profitable but also it is risky. I tried to trade daily for a while. But I finally quit because i lost money. So my advice to the newbies, you should to do research and learn the market before trading.

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Quote from: Jercyhora2 on November 09, 2019, 08:08:42 AM

I waste lot of money on trading. Without planning I lost every trade which mostly the problem. By the way it's only trial but I didn't want to stop.

Making plans is needed to have successfull trade. Without plan, you're giving away your holding out of you. The one lesson I learned about trading is plans is very important. At the same time patience.

actually when you are already buying without planning or rushing in buying, I think it's natural for a newbie. I also, sometimes too rushed to buy. you need to understand is, your patience in waiting for price increases. indeed we need analysis when we want to buy, because there is a prediction whether the coin will go up or down. but it can miss, and get out of the prediction before.

that is, be patient when it will sell, wait for prices to rise. but when already bought, do not regret. because in my opinion buying it anytime is the right time when we have capital.

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Quote from: Jercyhora2 on November 09, 2019, 08:08:42 AM

I waste lot of money on trading. Without planning I lost every trade which mostly the problem. By the way it's only trial but I didn't want to stop.

Making plans is needed to have successfull trade. Without plan, you're giving away your holding out of you. The one lesson I learned about trading is plans is very important. At the same time patience.

Also dont forget to cutloss if you think the price will go deeper so will not be lost that much. There is nothing wrong with trial, but dont forget that dont use all your money just for trial so incase you learn you still have balance to start to recover your lost from trading.

Topic: Newbie trader be like - page 4. (Read 590 times)