Share Tips For Newbie Traders - page 5.

sheenshane

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Quote from: Ndabagi01 on February 05, 2023, 05:23:04 PM

It can be devastating at times because you don't know what to do next; this frequently occurs while practicing a trade in which you believe you are already a master. To be honest, you'll feel like giving up hope several times when things don't go as planned. It's not fun to see yourself lose money you've already invested in trading. But what keeps you going is the determination of your prepared mindset to face any outcome that comes from trading.

Because trading won't work for anyone, it needs time and dedication to gain knowledge and trading isn't instant making money, there are too many things that you need to learn first it's either technical or fundamental analysis. It feels devasting at the first time because that's not for profit yet, it's for gaining experience, the more experience you've gained the bigger chances that you'll easily make a profit. In short, trading didn't talk all about profit.

But IMO, it feels safe for me as an investor than a trader since I don't have enough time for trading, as a newbie if you want to enter trading, give it a full time because that's what trading needs.

bhooscream

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Quote from: Davidvictorson on February 04, 2023, 01:39:09 PM

Trading can be a lonely and boring business at some point because, you do not have anyone to talk to and are just alone with your computer, phone, or tablet in your room, just trading. And many newbies may at some point think that they are probably wasting too much of their time. If you are in this situation right now, I want you to know that you are not wasting your time.

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

Because many people love this activity with their own privacy. Trading needs more focus to analyze the indicators, market, and other things. This needs certain capabilities and if their focus is lost because of other people, I am sure that this will not be good. Moreover, many people don't want they are revealed as a trader because of some reasons. Many of them feel that it is better to hide their trading activities, not only because of the environment but also the rules and regulations in the country. I think that it is no matter how we are doing trading activities it may be boring, but it is better because we can gain extra focus and concentration.

Ndabagi01

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It can be devastating at times because you don't know what to do next; this frequently occurs while practicing a trade in which you believe you are already a master. To be honest, you'll feel like giving up hope several times when things don't go as planned. It's not fun to see yourself lose money you've already invested in trading. But what keeps you going is the determination of your prepared mindset to face any outcome that comes from trading.

tjtonmoy

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It may be boring at the first, but as time passes by it become more fun. The joy of your first profit. Even if it's little, you can feel the blood pump through your brain. But don't get caught up on that. With profits, you will make losses too. So don't get emotional over the fact that you are not making profits. Your investment should be what you are willing to lose. But making sure you are not making losses frequently is the best I can say. If you can control one, then the other will grow with it. Trying to make less mistakes can lead you to gain more success, is what I can say.

blockman

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If for an individual trader, being alone sometimes is encouraging and boring. So you choose your battles when you're trading alone, maybe that's why some other folks are looking for a way to trade with a group but I don't think that's really a good idea.
Many people there might just take advantage of you if you're still new and will just give a blow of those coins that they'll suggest you to buy and then will just leave you hanging then.

crzy

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Just try to look for other interesting projects and just focus on your strategy, you will not be bored if there’s money involve already because you have to take it seriously whatever it takes. Trading is very challenging, it requires a lot of time and full effort to analyze the market, if you are not feeling well then better to pause for a while and come back when you’re ok already, because your emotions can really affect your trading decisions.

Rruchi man

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Quote from: Davidvictorson on February 04, 2023, 01:39:09 PM

... And many newbies may at some point think that they are probably wasting too much of their time.

Trading requires your time and will have it's fair share of your time as you devote yourself more to trading.

Tip for Newbie traders is that they should understand first that trading that they are about to begin requires time and real dedication. So if they know yourself to be someone who is already very occupied with some other activities or cannot dedicate time to trading, do not bother starting so your do not learn your lesson bitterly maybe after already loosing.

A good trader that I know said that you will feel better loosing other people's money than your own money when you trade. But before you can become very good and confident to want to trade with other people's money, you must have dedicated time to learning and have shown results enough for other people and even institutions to trust you with money to trade for them, knowing that even if you record some losses along the way, they are still assured of some good profits.

There is skipping a requirement if you must be a good trader, It requires your time, time you must be willing to give.

Nrcewker

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Quote from: Davidvictorson on February 04, 2023, 01:39:09 PM

Trading can be a lonely and boring business at some point because, you do not have anyone to talk to and are just alone with your computer, phone, or tablet in your room, just trading.

No one does this for fun. People do this to earn money or sometime to earn extra money. So yes if you don’t have any good skill, and if trading is the only source of income, then yes you are bound to pass time like this. 90% of the people are not happy in the way they are earning money, they just do it in order to make money.
If you are beginner then let me tell you that don’t mix trading as gambling. As in trading the profits earned are very slow and less. No one becomes rich through trading overtime. Many newbies make mistake here and without any prior knowledge they just invest in the coins and make losses. If you are beginner then it’s advised that forget about making profits, at first try to avoid getting losses.

Bobrox

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Quote from: Davidvictorson on February 04, 2023, 01:39:09 PM

Trading can be a lonely and boring business at some point because, you do not have anyone to talk to and are just alone with your computer, phone, or tablet in your room, just trading. And many newbies may at some point think that they are probably wasting too much of their time. If you are in this situation right now, I want you to know that you are not wasting your time.

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

I am excited with trading trough consistency earn profit every day but there are not doubt with your opinion about trading is boring business if floating or position loss with price drop. I don't think with trading waste our time because could be side job with trading without make our main job disturbed.

I wake up every day and working at company and time take rest I use moment for checking with current market condition and which potential coin to buy, there are not spent many time for trading and possibility after buy order filling we can sell our coins assets and open later after break from working. This my experience about trading and I am happy after three years ago know with cryptocurrency and trading become my side job.

monineklutak

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Quote from: Bitcoin_Arena on February 05, 2023, 07:02:43 AM

Quote from: Davidvictorson on February 04, 2023, 01:39:09 PM

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

The first thing I had at the back of my mind was to always welcome losses too as they are part of trading and then try to create a good strategy to get me net profits over time.

The mentality some people have is that they can always only make profits without losses in trading. This is very wrong.

Another thing is only use funds you can afford to lose and make sure there is another side source of income for a beginning to avoid much pressure.

Both profits and losses are all part of trading, so no trader is free from losses, even professional traders,
experience a loss does not mean we will continue to experience it,
we can learn from it not to do the same thing in the future.

Gladitorcomeback

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The things seems to be boring if you are not interested or are losing money continuously. People are involved in trading because it's a business and lots of people do not have any other way of earning money.

Yes I agree with you that traders are busy in computer and mobiles but successful fortune requires time. If a person has ability to earn and has knowledge about trading then it will not be a boring thing for him. A trader should watch YouTube videos and should engage in telegram groups so he will not feel that he is lonely.

I learned trading from my family member that's why I doesn't feel lonely and never consider trading as boring thing.

Trading is interesting way of earning money but for those who think it as a business and remain active all the time

Jody.Drummer

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I have a different understanding of "wasting time" that the OP said.
When you feel that maybe you just spend trading all day. I think we should also have other activities besides trading, and look for activities that require us to interact with people. I am also a trader, but I have time management when to trade and when to do other activities besides that, and even I have time to go on vacation without my daily activities.

Alisha-k

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In my early days of trading i never left my tutor. Even when he felt he was done teaching me i still sticked around to get more confident of what i was thought. I will intentionally ask him to review my analysis not because i didn't know how to analyse at that point but i wanted to be sure what i learnt i understood them well. For a newbie it is better to stick around who ever thought them to trade and for those who are self taught they should find a peer to attack themselves to or join a community. Solo trading can be discouraging especially when the expected resulted is no showing forth.

Bitcoin_Arena

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Quote from: Davidvictorson on February 04, 2023, 01:39:09 PM

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

The first thing I had at the back of my mind was to always welcome losses too as they are part of trading and then try to create a good strategy to get me net profits over time.

The mentality some people have is that they can always only make profits without losses in trading. This is very wrong.

Another thing is only use funds you can afford to lose and make sure there is another side source of income for a beginning to avoid much pressure.

Russlenat

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Quote from: Davidvictorson on February 04, 2023, 01:39:09 PM

Trading can be a lonely and boring business at some point because, you do not have anyone to talk to and are just alone with your computer, phone, or tablet in your room, just trading. And many newbies may at some point think that they are probably wasting too much of their time. If you are in this situation right now, I want you to know that you are not wasting your time.

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

Yes it's quite boring because it's not easy, but I know I'm not wasting my time in trading since I'm fulfilling my goal here. We have the same goal and that is to be profitable, actually it doesn't need to be fun as long as you make money as you can consider trading as your money machine and have fun outside your trading life.

Just focus on your dreams, and eventually you will realize that it's okay to sacrifice now so in the future you'll just spend the rest of your life having a vacation anywhere you wants.

jeraldskie11

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Quote from: Davidvictorson on February 04, 2023, 01:39:09 PM

Trading can be a lonely and boring business at some point because, you do not have anyone to talk to and are just alone with your computer, phone, or tablet in your room, just trading. And many newbies may at some point think that they are probably wasting too much of their time. If you are in this situation right now, I want you to know that you are not wasting your time.

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

When I started to learn trading, in the mid point of my trading career, I feel like I'm just wasting my time because I'm still getting losses. Not only time but also money. I thought that I don't have future in trading but I'm wrong, we have to accept that we have to experienced losses in order to succeed in trading. Sometimes, if we are focusing to our losses, we can't trade in a effective way. That's why when I'm going to trade I have to make sure thay my mentality is fine and ready in order to get higher chance that my TA will materialize.

MFahad

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It is true that if your trading is open you will check back token price every 5 minute. Sometime you will spend whole days especially weekend and you will give very less time to family members and other social activities.

There are two ways to protect yourselves from wasting of time in trading. First you should buy some coins for long time and then don't worry about marketing situation but this type is called Holding. Second fixed a time for fir trading (Two or three Hours) and then try to open and close trade in this specific time. For this kind of trading Candle reading is must and you should trade in high volatile coins.

Money is not primary purpose because We earn money for life comfort, if there is no comfot then what is the use of this money?

jrrsparkles

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Quote from: Davidvictorson on February 04, 2023, 01:39:09 PM

Trading can be a lonely and boring business at some point because, you do not have anyone to talk to and are just alone with your computer, phone, or tablet in your room, just trading. And many newbies may at some point think that they are probably wasting too much of their time. If you are in this situation right now, I want you to know that you are not wasting your time.

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

As long as you are making it can never be felt boring so if you are in bored status just make sure you are doing everything right and take break whenever its required just remember don't go hard at it like 24/7 which can be stressful and will let you to not making right decisions even if you are on it.

By the way most of the commoners are also living alone and they fell in to the virtual world even people around them so loneliness is not a big deal when we realize it and do changes whatever it is required.

Time is priceless so we have to be happy while trying to make money instead of chatting and flirting with babes. Cheesy

mk4

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Not all traders operate alone. We literally have trading firms like Jane Street, Point72, Citadel, etc, where colleagues collaborate and discuss trades.

Quote from: Davidvictorson on February 04, 2023, 01:39:09 PM

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

Because you know you can make a living off trading if you did well?

Husires

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Wasting time varies from person to person. If I work at a job that generates income of $10 an hour, then trading will be a waste of time if I cannot generate $3 an hour. Likewise, if I am unemployed and cannot find a job, then $3 is more than enough.

Other than whether trading is profitable or not, profit and loss accounts are related to other businesses, and from here trading robots appeared, which you can manage without being online or in front of a computer screen.

These methods have made trading a profitable business for everyone who can understand the direction of the market and is ready for adventure and vice versa for everyone.

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