Topic: SIMPLE ADVICE TO ALL NEW TRADERS - page 2. (Read 567 times)
I've always known that trading is not as easy as it seems, but when it comes to futures trading, that's something much higher that requires a professional approach and a great deal of patience and expertise.
As you know most of the people wants to become rich overnight that why recommending future trading leverage 20x, in my experience about future trading with more than 5x is very risky and most of the people lost their money soon, the best strategy is to invest in the spot market and top altcoins in coinmarket cap and wait for little long time so that can give good profit from altcoins.
Yeah, leverage trading with anywhere over 5x is a gamble with luck. Invest in a good coin, doing altcoin spot trade, swing between USDT/BTC when the market in the volatile state is less risky over leverage trading. Anyone want to speed up the process, going for a high leverage x is a bad move.
This is the main rule of trading to learn technical analysis and to have a good knowledge about risk management.
So this lesson is universal for Crypto trader.And I believe everyone knows that.And about leverage trading I am not it's supporter.Becasue this is not profitable in maximum time and it's the worst if you hit liquidation price.
So this lesson is universal for Crypto trader.And I believe everyone knows that.And about leverage trading I am not it's supporter.Becasue this is not profitable in maximum time and it's the worst if you hit liquidation price.
You can be a good trader after the amount of time and experience but to be a good futures trader? That thing needs more than just experience and knowledge. Maybe because futures trade involves also luck factor so I think any traders need to think twice before going into that zone.
As you know most of the people wants to become rich overnight that why recommending future trading leverage 20x, in my experience about future trading with more than 5x is very risky and most of the people lost their money soon, the best strategy is to invest in the spot market and top altcoins in coinmarket cap and wait for little long time so that can give good profit from altcoins.
TRADING is not something anyone rush into because it's paying people, its something you sit down, read and understand and also learn by doing. To trade furures, no good trader will tell you to jump into futures trading with a small capital and high leverage , to be a good trader you need discipline , the same discipline you apply to a 10$ account is what you should apply to a 10k$ account.
your trading capital is just numbers on the screen, the method and ways by which you manage those numbers is what will determine and make you a good and profitable trader.
ITS GOOD TO KNOW THAT ANYONE CAN BE A GOOD TRADER WHEN THEY ONLY SHOW YOU THE PROFITS THEY MAKE. DONT LET ANYONE RUSH YOU INTO WHAT YOU ARE NOT PREPARED FOR
your trading capital is just numbers on the screen, the method and ways by which you manage those numbers is what will determine and make you a good and profitable trader.
ITS GOOD TO KNOW THAT ANYONE CAN BE A GOOD TRADER WHEN THEY ONLY SHOW YOU THE PROFITS THEY MAKE. DONT LET ANYONE RUSH YOU INTO WHAT YOU ARE NOT PREPARED FOR
To tell you the truth mate, Trading is for everyone I've been said this many times here in the forum but I will tell once more.
" Many are called few are chosen " I hope you understand this quote dude. Trading is not that easy like others thinking that this is
a simple things to do, but they are totally wrong you need to spend long time before you become a responsible individual traders
in cryptocurrency.
TRADING is not something anyone rush into because it's paying people, its something you sit down, read and understand and also learn by doing. To trade furures, no good trader will tell you to jump into futures trading with a small capital and high leverage , to be a good trader you need discipline , the same discipline you apply to a 10$ account is what you should apply to a 10k$ account.
your trading capital is just numbers on the screen, the method and ways by which you manage those numbers is what will determine and make you a good and profitable trader.
ITS GOOD TO KNOW THAT ANYONE CAN BE A GOOD TRADER WHEN THEY ONLY SHOW YOU THE PROFITS THEY MAKE. DONT LET ANYONE RUSH YOU INTO WHAT YOU ARE NOT PREPARED FOR
your trading capital is just numbers on the screen, the method and ways by which you manage those numbers is what will determine and make you a good and profitable trader.
ITS GOOD TO KNOW THAT ANYONE CAN BE A GOOD TRADER WHEN THEY ONLY SHOW YOU THE PROFITS THEY MAKE. DONT LET ANYONE RUSH YOU INTO WHAT YOU ARE NOT PREPARED FOR
One fact we need to come to terms with is that, a good trader is not a good trader because of the profits they make; a good trader is judged based on the number of times they are able to replicate their profit margins, and the skillset they have to narrow their loss margin in each respective trade they make.
As a trader; you have no business doing futures if spot trading still give you massive loss. always do your own research and don't look up to anything or anyone.
I studied trading and during the first year, I was not allowed to use a balance of more than $ 100. I entered trades for very small amounts just to practice discipline. in the second year, I was allowed to trade for 1000 dollars
No matter how much money you use to trade, as long as you can learn more about trading, you can make a profit, so your funds will become bigger. When your funds become bigger, you can trade using big money, and if that happens, you will have a chance to make more profit in trading. Many people start trading with a small amount, and many do not give up trying to make a profit. But only some of them can survive and finally, make those profit while the other trader leaves the market. Exactly! when I was new in leverage trading the first mistake I made was using high leverage because of that I lost a lot of bitcoin it's only later I understood higher leverage equals lower liquidation price. We should always take ladder entry with low leverage IMO. Also, do not just blindly open a position without understanding the market.
I studied trading and during the first year, I was not allowed to use a balance of more than $ 100. I entered trades for very small amounts just to practice discipline. in the second year, I was allowed to trade for 1000 dollars
ITS GOOD TO KNOW THAT ANYONE CAN BE A GOOD TRADER WHEN THEY ONLY SHOW YOU THE PROFITS THEY MAKE. DONT LET ANYONE RUSH YOU INTO WHAT YOU ARE NOT PREPARED FOR
Appreciate the words of wisdom you stated here. We have different level of understanding in trading. Some are actually fast learners but skme may not. Confidence while preparing to go to the battle with of course tools with you has a greater chance that you'll be successful to make some profits in trading in the future. We may not force everyone to trade especially with lack of knowledge but to take risk and have courage is the key to start what we are aiming for.
Exactly! when I was new in leverage trading the first mistake I made was using high leverage because of that I lost a lot of bitcoin it's only later I understood higher leverage equals lower liquidation price. We should always take ladder entry with low leverage IMO. Also, do not just blindly open a position without understanding the market.
Exactly! when I was new in leverage trading the first mistake I made was using high leverage because of that I lost a lot of bitcoin it's only later I understood higher leverage equals lower liquidation price. We should always take ladder entry with low leverage IMO. Also, do not just blindly open a position without understanding the market.
to be a good trader you need discipline , the same discipline you apply to a 10$ account is what you should apply to a 10k$ account.
Have you ever traded in the market?Trading with $ 10 fund is completely different from $ 10k fund especially trading psychology. It is possible to achieve a high profit rate when trading with a small money, but once you have achieved a large amount of capital, all of your decisions will be affected by your psychology. This is what I went through when trading.
ITS GOOD TO KNOW THAT ANYONE CAN BE A GOOD TRADER WHEN THEY ONLY SHOW YOU THE PROFITS THEY MAKE. DONT LET ANYONE RUSH YOU INTO WHAT YOU ARE NOT PREPARED FOR
You can't follow the same discipline you apply to a 10$ account with a 10k$ account, also can't with demo account and real account. Because you will have different psychology with each account when you trading. The fact is that very rare trader can control his psychology. Start with a demo account or a small balance account is good, after that you can trade with larger account but it must be not too large, such as move from $100 account to $500 or $1000 account, do not move from $100 to $10k.
the only advise i have for new traders is that they should stay away from greed , study trading well before you start and always learn to take profits whenever the need arises don't be emotional about any project so you don't lose all your capital.
that's what often happens to new traders, they are always greedy and waiting for higher prices,even though prices have shown price increases but they always hold back to sell them immediately,
Future Trading is like burning your assets into ashes.
In trading, we must not hurried our profits. We must learn and study the different strategies and techniques for us to initiate good trades. Because, when you are always feel greediness in trading you may lose. In addition, disciple for every trades must be implemented. I have a friend in telegram who always afraid to lose 2% from his buy entry. That is why, even the price moves down in 5 sats, he always make a stop loss. Therefore, when there is a bounce he always make regret in telegram for his early loss selling.
Trading is not a game, it is an investment. So, we must plan every execution that we will make.
In trading, we must not hurried our profits. We must learn and study the different strategies and techniques for us to initiate good trades. Because, when you are always feel greediness in trading you may lose. In addition, disciple for every trades must be implemented. I have a friend in telegram who always afraid to lose 2% from his buy entry. That is why, even the price moves down in 5 sats, he always make a stop loss. Therefore, when there is a bounce he always make regret in telegram for his early loss selling.
Trading is not a game, it is an investment. So, we must plan every execution that we will make.
When we get into trading we must know what we are doing, it's OK to try it already since that way we will only applies our knowledge and learnings but better do it with tutorials or learning first. Just like in school before we do exam we need to study throughly. There are many strategies and for us to be able to see what works on us we better try it, we can do it with non money trading apps first or tru investing minimal amount first to trade. But better with simulation apps or website if we wanted to learn it fast. Trading is a continuous learning and we will able to learn and earn thru our dedication on studying it.
the only advise i have for new traders is that they should stay away from greed , study trading well before you start and always learn to take profits whenever the need arises don't be emotional about any project so you don't lose all your capital.
Greediness is one of the barriers from new traders.Even for the middle-experienced traders, it's still a problem and I guess those professional traders are still kicking them with greed. But it's sure for them that they are disciplined people and they know the boundaries and we should learn from them.
Is that simple advice? Well, I think that it will be more useful if we also advise what kind of strategies. But I know that everyone has different strategies. About sitting down and focusing on the market charts, well, if it is about the daily trader, probably yes. But, what's about the others? Some people may not be comfortable to be only sitting down while trading. Can it depend on each person? Additionally, is the strategy and discipline of trading 10 similar to the ways of trading $10k? I think it will be a different situation.
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