Topic: Newbies say no to Trading. (Read 725 times)
Being in trading demands a lot of expertise. irrespective of whether you are a newbie or not, you avoid it if you lack the understanding necessary to trade effectively and make a profit. The most crucial thing to keep in mind is that trading is riskier than it first appears. However, if you feel like you want to be involved and are willing to face the risk, make sure you are less greedy, trade with an amount you can afford to lose, and don't use it as only side hustle. If not, you'll look back and wonder why you even started trading.
...So, I also understand that it is too risky for a newbie to trade, but the risk can be reduced by gaining knowledge and experience. A newbie isn't supposed to start trading right after entering the market but they should first the ways of the market, techniques, indicators, risk management, etc...
I think there are too few such beginners who start learning various trading strategies before starting trading. In practice, after a beginner has become familiar with the exchange's interface, he starts trading. And after he loses his money, he begins to be interested in various strategies that will allow him not to lose his money in the future.
I am certainly agreeing with the fact that no one should jump into crypto trading very soon after they entered into the crypto trading which might intriguing for someone who see the potential in profit making but with lack of knowledge they are going to be anywhere other than in a loss.
It’s nice for someone to have knowledge of what he or she is trying to do, not only trading but even investment, because without the knowledge, someone won’t know how to secure their investment. The same is true for trading; without knowledge of trading and the technical analysis involved, you will not get anything from trading but lose your money at any time.
However, it always surprises me if a newbie decides to start trading without the fundamental knowledge of trading. Instead of a newbie deciding to start trading without knowledge, why not just go for investment even though his or her main aim is trading? I always think they use the money to invest in bitcoin first, after they have learned their trading skills.
But if someone is able to do it there's nothing wrong with starting with a small capital first because the more experienced the better, although no one can guarantee that the more experienced you will not get a loss in trading. When we are not ready to run it, using an investment with a DCA pattern will be much better as has been suggested by many people before.
Yes, mate, it is pretty good to start with a small capital. The fact that there is no guarantee of your money's return, regardless of profits, means that if you trade with a small amount of money, even if you lose, you may not get into financial trouble again. Because that is what affects some people when they see trading as something that will get them rich quick, they put a high amount of money into trading without thinking of the risk involved, which is why forum members always emphasise that trading is not for beginners, which is true.
I agree with you, it is better for newbies to keep their Bitcoin for a long time like will, so that he can achieve his goals, but another thing is that if you understand the risk involved, you can try it too because anything in this life is all about taking risk, even if you keep your Bitcoin for a long time you can't say 100% you will get profit, because the market is volatile, the price increase and decrease anytime, am I newbies and have some questions? Because I've made up my mind that everything I do involves danger, it's better to take the risk. then to watch individuals make money. Long-term investment reduces your dangers more than trading.
You have a good point that someone who doesn't take risks will stay where they've always been while those who take risks all the time tend to get success eventually. So, I also understand that it is too risky for a newbie to trade, but the risk can be reduced by gaining knowledge and experience. A newbie isn't supposed to start trading right after entering the market but they should first the ways of the market, techniques, indicators, risk management, etc.Once a newbie learns everything, they should decide if they want to just buy Bitcoins and keep them for the long term or keep liquid cash and do trading with it on a daily basis because they can get more profit this way, and the decision will surely go towards trading since the risk has been reduced now.
So many newbies have the wrong orientation on bitcoin and they think that it is a get rich quick scheme,which makes them rush into investing and after investing,what comes to their mind next is trading. Trading should be the last thing on your mind as a newbie here,what matters is after buying your bitcoin is to learn on how you can keep your bitcoin safe and how you can also add to your bitcoin by using the DCA method or how to take advantage of the market when bitcoin price dips. The best way a newbie can make profit from bitcoin is when he holds his bitcoin for a very long time and the profits will come by itself and not through trading.
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Trading is done by professional and people who understands the fundamental analysis and technical analysis,you still also need to know the risk management in trading. All these put together can't be learnt in two months that is why a newbie should shy away from trading and don't think that trading is very easy and rush into it,or else you will end up losing your bitcoin to a professional trader because even the professional traders also run at loss. Don't see bitcoin trading as job that you can use to earn a living because you will get disappointed after a great loss,or something that you can use to earn high profit within a short period of time because that is not how it works.
And on this point you are also right. That to be able to start trading at least we must first learn all the things needed to increase our level of success in trading. Namely by mastering technical and fundamental analysis. And also trading psychology and such. even financial management and risk must also be mastered in this case. So don't rush into trading. Except only with small money, namely the practice of trading while learning.Quote
Don't quit your job because you just purchase some fraction of bitcoin, and use like 10% of your income to buy bitcoin monthly or weekly and hold for a very long time because this is the only way that you can enjoy from your bitcoin investment. Your bitcoin at hand is worth more than millions in the market and don't allow your greed or anxiety to trade make your loss your bitcoin because it is more precious than gold when you HodLi. Any fraction of bitcoin that is gone wouldn't be easy to replace back. Learn and have a concrete knowledge on whatever you want to use your bitcoin for before rushing into it. The forum is where you can learn a lot on bitcoin and DYOR.
What are your suggestions on this my seniors. I want to hear from experience members.
Well about this it is clear that we should not leave our main job. It would even be better if we supplement our income by working on the side. And the extra money we get we can put in crypto investments. And we can still invest the main income in other things such as property and so on. What are your suggestions on this my seniors. I want to hear from experience members.
So many newbies have the wrong orientation on bitcoin and they think that it is a get rich quick scheme,which makes them rush into investing and after investing,what comes to their mind next is trading. Trading should be the last thing on your mind as a newbie here,what matters is after buying your bitcoin is to learn on how you can keep your bitcoin safe and how you can also add to your bitcoin by using the DCA method or how to take advantage of the market when bitcoin price dips. The best way a newbie can make profit from bitcoin is when he holds his bitcoin for a very long time and the profits will come by itself and not through trading.
Trading is done by professional and people who understands the fundamental analysis and technical analysis,you still also need to know the risk management in trading. All these put together can't be learnt in two months that is why a newbie should shy away from trading and don't think that trading is very easy and rush into it,or else you will end up losing your bitcoin to a professional trader because even the professional traders also run at loss. Don't see bitcoin trading as job that you can use to earn a living because you will get disappointed after a great loss,or something that you can use to earn high profit within a short period of time because that is not how it works.
Don't quit your job because you just purchase some fraction of bitcoin, and use like 10% of your income to buy bitcoin monthly or weekly and hold for a very long time because this is the only way that you can enjoy from your bitcoin investment. Your bitcoin at hand is worth more than millions in the market and don't allow your greed or anxiety to trade make your loss your bitcoin because it is more precious than gold when you HodLi. Any fraction of bitcoin that is gone wouldn't be easy to replace back. Learn and have a concrete knowledge on whatever you want to use your bitcoin for before rushing into it. The forum is where you can learn a lot on bitcoin and DYOR.
What are your suggestions on this my seniors. I want to hear from experience members.
New traders always think that trading is possible to maximize profits and get rich quickly. But it always turns out to be their wrong decision and their reverse thinking eventually leads to their loss and collapse. Basically a new investor must always know all the important roles involved in trading. But a new investor can make profit by trading and if he can analyze the market well then he will not have to face loss. So a new investor should first invest in coins where he will not face any loss. And new businessmen should keep in mind that they should stop short-term thinking and think long-term in which huge profits can be made. and one should always invest in Bitcoin for the long term but it is possible to make a profit in the future if a new trader does this then he can earn a profit in the future.
If you look at the recent cycles of bitcoin, there are many altcoins that have outperformed bitcoin, so there will always be better investments than bitcoin, but whether newcomers will be able to recognize them, I'm not sure. Trading is a separate area that requires a lot of knowledge, discipline and the right strategy, I also doubt that a beginner can have this, and until they achieves this, they will lose money.
for a beginner, of course, you have to prioritize knowledge before jumping into trading, such as daily trading and so on, and indeed it would be better if a beginner invests in btc for the long term, but in my opinion, for example, if our have a lot of knowledge, of course you can trade, but for me personally in the past I immediately have two capitals, namely for long-term investment and for trading, but in the trading learning stage I always use very small capital, and after that I can analyze and so on, then I add capital for trading. so I think it is also possible for beginners to learn trading as long as they have very small capital and have to use idle money.
Most of the new members who are interested in trading always think that they will get rich very quickly by trading. They get the idea of getting rich very quickly when they get various positive ideas about trading or watch positive videos about trading on various social media. When a video is published on various social media about trading, the video only shows the positive aspects of trading and the person who publishes the video only shows his profit parts in the video, thereby creating an impression in the mind of every new member that If they trade like that person then they can earn a lot of money very quickly. By thinking like this, when they invest without thinking anything, they lose a lot of money due to not having enough knowledge about trading. A new member should never do this. We must keep in mind that everything has pros and cons. When a YouTuber only talks about the good things about trading, you have to understand that there are as many good things about trading that the person has discussed that YouTube has not presented to everyone. A new member should start trading only after gaining adequate understanding of trading by accepting these points.
Trading is done by professional and people who understands the fundamental analysis and technical analysis,you still also need to know the risk management in trading. All these put together can't be learnt in two months that is why a newbie should shy away from trading and don't think that trading is very easy and rush into it,or else you will end up losing your bitcoin to a professional trader because even the professional traders also run at loss. Don't see bitcoin trading as job that you can use to earn a living because you will get disappointed after a great loss,or something that you can use to earn high profit within a short period of time because that is not how it works.
You understand trading patterns, investments and ways to make profits on bitcoin very well and I see that there are many beginners who only tell stories about how to make profits without thinking about the high level of risk. Holding bitcoins in the long term is one of the most appropriate steps to make profits and the convenience is that we don't need to think about a downward position caused by several conditions that occur. Trading requires knowledge and there are many things to consider so you don't get a psychological breakdown when you experience a loss.But if someone is able to do it there's nothing wrong with starting with a small capital first because the more experienced the better, although no one can guarantee that the more experienced you will not get a loss in trading. When we are not ready to run it, using an investment with a DCA pattern will be much better as has been suggested by many people before.
Therefore, it is better for beginners to start with demo accounts, or very small deposit amounts.
It’s better for newbies to use demo accounts when practising so that they won’t end up losing money, but I don’t know if it happens to me alone. Whenever I am using a demo account, it always seems like I understand everything already and I will be making money, but immediately I deposit a real amount, then things will start going wrong and I will start losing money. So after practising with a demo account, when you want to deposit, make sure it’s a small amount to give it a trial.I learn from mistakes in trading, this does happen to both beginner and intermediate traders. because technical analysis is only 20%, 80% is mental, rebuilding and wanting to reduce the same mistakes. Because that mentality makes us patient and able to control ourselves, take it easy, don't rush into trading, don't push yourself too hard, sometimes we have bad days. so Stop trading, Calm down when you're better prepared, Shake some more..... So.. Just relax. That way, God willing, it will last even if it hasn't increased, at least it can survive, that's already good.
The strange fact for me remains that when people are addicted to gambling, and they try to do something about it, psychologists forbid them to play slots where demo accounts are used. It would seem that there is no difference, but apparently, when a person has run around earning money in this way, even a demo account becomes not dangerous for him.
I do not know if it is possible to become obsessed with trading, but I am sure that it can cause obsessive states, like checking the price every minute.
Nevertheless, I still consider a demo account in trading to be quite harmless for a trader, but at the same time not very useful.
New traders always think that trading is possible to maximize profits and get rich quickly. But it always turns out to be their wrong decision and their reverse thinking eventually leads to their loss and collapse. Basically a new investor must always know all the important roles involved in trading. But a new investor can make profit by trading and if he can analyze the market well then he will not have to face loss. So a new investor should first invest in coins where he will not face any loss. And new businessmen should keep in mind that they should stop short-term thinking and think long-term in which huge profits can be made. and one should always invest in Bitcoin for the long term but it is possible to make a profit in the future if a new trader does this then he can earn a profit in the future.
Therefore, it is better for beginners to start with demo accounts, or very small deposit amounts.
It’s better for newbies to use demo accounts when practising so that they won’t end up losing money, but I don’t know if it happens to me alone. Whenever I am using a demo account, it always seems like I understand everything already and I will be making money, but immediately I deposit a real amount, then things will start going wrong and I will start losing money. So after practising with a demo account, when you want to deposit, make sure it’s a small amount to give it a trial.I learn from mistakes in trading, this does happen to both beginner and intermediate traders. because technical analysis is only 20%, 80% is mental, rebuilding and wanting to reduce the same mistakes. Because that mentality makes us patient and able to control ourselves, take it easy, don't rush into trading, don't push yourself too hard, sometimes we have bad days. so Stop trading, Calm down when you're better prepared, Shake some more..... So.. Just relax. That way, God willing, it will last even if it hasn't increased, at least it can survive, that's already good.
I agree with you, it is better for newbies to keep their Bitcoin for a long time like will, so that he can achieve his goals, but another thing is that if you understand the risk involved, you can try it too because anything in this life is all about taking risk, even if you keep your Bitcoin for a long time you can't say 100% you will get profit, because the market is volatile, the price increase and decrease anytime, am I newbies and have some questions? Because I've made up my mind that everything I do involves danger, it's better to take the risk. then to watch individuals make money. Long-term investment reduces your dangers more than trading.
Therefore, it is better for beginners to start with demo accounts, or very small deposit amounts.
It’s better for newbies to use demo accounts when practising so that they won’t end up losing money, but I don’t know if it happens to me alone. Whenever I am using a demo account, it always seems like I understand everything already and I will be making money, but immediately I deposit a real amount, then things will start going wrong and I will start losing money. So after practising with a demo account, when you want to deposit, make sure it’s a small amount to give it a trial.For sure they can still learn something by using demo accounts since they can use the strategy they learn and also realize something that it will never work if they are not creative enough to learn more especially when dealing up using their real money since emotion is vital key for them either to lose or win.
I still believe that demo account is useful to anyone but they should not expect that things will work on real time since this is just a guide for trader to define what good alts to trade and test how the exchange works.
So many newbies have the wrong orientation on bitcoin and they think that it is a get rich quick scheme,which makes them rush into investing and after investing,what comes to their mind next is trading. Trading should be the last thing on your mind as a newbie
There's nothing bad in seeing a newbie into bitcoin trading if he truly knows what he's doing, newbies have no restriction to what they can do in bitcoin but we only encourage them to learn first before making moves to taking some steps that might be beyond their comprehension, if you think you can learn trading, why not give a try, all we want is for you having the equiped knowledge and understanding of whatever thing you're doing in other to make it right.
Therefore, it is better for beginners to start with demo accounts, or very small deposit amounts.
It’s better for newbies to use demo accounts when practising so that they won’t end up losing money, but I don’t know if it happens to me alone. Whenever I am using a demo account, it always seems like I understand everything already and I will be making money, but immediately I deposit a real amount, then things will start going wrong and I will start losing money. So after practising with a demo account, when you want to deposit, make sure it’s a small amount to give it a trial.I believe that beginners can also trade cryptocurrencies on exchanges and do it successfully. I have read a lot of messages from newcomers, and among them there are so knowledgeable and literate that they surpass many users with the rank of legendary in understanding cryptocurrencies.
Everyone can trade on exchanges, both beginners and professional traders, but it won’t be easy for beginners to start trading, and when they start trading, they shouldn’t be expecting money immediately. I know most beginners believe if they start trading, they will start making money immediately, but it’s not like that, you have to learn first before you can start making money. If you think that immediately you start trading, that’s when you will start making money, then that’s wrong. If you are not careful, you will end up losing everything.Therefore, it is better for beginners to start with demo accounts, or very small deposit amounts.
It’s better for newbies to use demo accounts when practising so that they won’t end up losing money, but I don’t know if it happens to me alone. Whenever I am using a demo account, it always seems like I understand everything already and I will be making money, but immediately I deposit a real amount, then things will start going wrong and I will start losing money. So after practising with a demo account, when you want to deposit, make sure it’s a small amount to give it a trial. 
I believe that beginners can also trade cryptocurrencies on exchanges and do it successfully. I have read a lot of messages from newcomers, and among them there are so knowledgeable and literate that they surpass many users with the rank of legendary in understanding cryptocurrencies.
It is because not every newbie in this forum is a beginner in crypto. A few of newbie accounts may be experienced people, they just joined this forum but they already invested or traded crypto for a long time. So, we don't underestimate newbie account, not every newbie means a beginner in crypto.But I understand why it's better for them not to do this - the fact is that beginners are bad at controlling themselves, they want everything at once. And in any case, it is important to have your own experience, and a negative experience in the cryptocurrency market threatens to lose the deposit. Therefore, it is better for beginners to start with demo accounts, or very small deposit amounts.
For a real beginner, I agree that they need to focus on learning and get some experience first. Trading isn't something easy, it is a complex and complicated matter. If someone has a lack of knowledge and experience, it will be hard to deal with the volatility in the market. Building a proper mentality as a trader is also a serious matter. Without a strong mentality, someone will be easy to panic and think unrealistically. It should take time to master all this aspects, so beginners don't hurry to trade directly.Sure, it should be started with small funds or using a demo account first. The focus is to learn and get experience, not to gain profits as much as possible.
So many newbies have the wrong orientation on bitcoin and they think that it is a get rich quick scheme,which makes them rush into investing and after investing,what comes to their mind next is trading. Trading should be the last thing on your mind as a newbie here,what matters is after buying your bitcoin is to learn on how you can keep your bitcoin safe and how you can also add to your bitcoin by using the DCA method or how to take advantage of the market when bitcoin price dips. The best way a newbie can make profit from bitcoin is when he holds his bitcoin for a very long time and the profits will come by itself and not through trading.
Security of funds has been the major setback of many newbies and a lot of them have lost quite a good sum of money all because of a lack of security awareness that cost them avoidable mistakes their way up.
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