Topic: SIMPLE ADVICE TO ALL NEW TRADERS (Read 573 times)

well, I totally agree with what you say because trading Leverage must require very superfluous research and must be able to always standby to adjust entry and exit positions, it will only make you uncomfortable and always worried about your assets in the exchange place even though there are stop loss.

I will say in simple language that rules are an important issue in trade.I think it is possible to make a profit if you can trade according to the rules.
And of course good feedback is available if you stay within the rules.Nothing good can be expected without rules.One thing to keep in mind in trade. You don't have to be late to make a decision.The ability to make decisions is much more important.

If you depend on luck, I don't think that you will be able to make a profit because it is hard to get luck in trading unless the market can up and down significantly, so the luck will come to you.

He can be able to analyze the chart if he wants to spend time to learn to trade. The more he can learn, the more his chance to be able to analyze the chart and find the right time to enter the market.

The leverage trading is for people who already know how trading works, and they have skills to analyze the market. Even if they don't have high trading skills if they know how the leverage trading works, they will be able to buy low and sell high, and they can control themselves in making a profit.

Leverage trading is a risky type of trading. If you would compare it to a normal spot trading then you are like gambling with a small percentage of winning. Im not saying there is no chance to earn, but make sure your apetite for it is not all or nothing. Learn to be patience cause profit not come with greed at all. I am not an expert trader and dont understand high technique on technicals but I can control myself when to sell and when to buy at time. If users wanted a moderate risk then hold your best coin and wait for it to gain in long term period.

Precisely, it's not just luck that they should rely on but understanding and
knowledge within this market is very important.
Leverage trading needs great anticipation and good management of your funds.


This is crucial with new traders, the market movements, even in small actions, will
create impact to your position.


Practice with another different types of trading is a good suggestion. Newbie
might need to understand the basics,
then try to analyze and understand if they already have skills that they can use
before pushing their involvement with leverage trading.

Using leverage trading for new people who don't know much about trading will be too risky and dangerous because they can get lost anytime. It will be hard to analyze the chart because they will not have an idea to enter and close the trading. That people need to learn more before they use leverage trading and I think they need to try using the other exchanges rather than to try with the leverage trading.

Maybe you didn't understand what OP saying. You are telling the amount amount but he tried to understand that 10$ and 10k$ doesn't matter you have to maintain the rules. Like if you think that 10k$ is huge money so I have to research before buy etc etc. On the other hand if you think 10$ is very low so I don't need to research just buy and hold. Then you are wrong you have to be professional and have to research before buying.

Just like doing investment, in trading you must also equip yourself with prior knowledge that concern on how you will do trading so that you can be able to keep up on the fast changing pace of the market. Trading without having prior knowledge on how you will do a trade is like putting up your money into a gamble that maybe you will be lucky to gain on quite sometime but most probably you will fail doing trade because of rushing things out not knowing the basic ideas and concepts needed before you conduct your own trade.

Like investment, trading also takes time and patience together with discipline to be able to hold back on temptation that will challenge your mind to do decision making of what you will do on your money upon doing trading. Do not let your emotions dig in or intercept the way you do decision on your trades because impulsive decisions driven by emotions can lead you into a failure. Learn to observe and duly understand the flow of prices so that you will not be mislead on doing your trades that is why having prior knowledge is really in need on this one because money is at stake and if you will not take it seriously, this will lead your money on a fail trade. Learn first before you act on engaging into trading and do not rush things out because it is a must thing to do if you want to be a successful trader.

New traders always get overly excited when they see screenshots of gains posted by some so-called pro traders who most times do that to advertise their paid channels. There is no successful trader with zero loss in trades, if they only show you wins, without showing you losses, then be suspicious. The very first approach to be a good trader, independent on paid channels is TA mastery, then starting small and learning from experience.

I agree with you, a good trader does not go around sharing his wins, especially a single win. A good trader has numerous profit history to choose from and does not need to send you any proofs, instead he guides you to perfection and help your trading knowledge. Always avoid signal groups and learn to be independent in your researching

Choose your own trading strategies, don't fall for others.Yes it is true that we need patience if we want to make money from trading but some times we also need to act quickly to save us from huge dumps for that we can use trading bots and stop loss features but again its your money so take responsibility while making trade orders.

I certainly agree with you. Trading is actually a long process of learning and mental conditioning. Since the market is unstable, we should also learn how to control our emotions or else it will be the one who will control us. Trading isn't as easy as everyone thinks because there isn't an assurance of a good profit. It needs further understanding for us to deal with every market situation easily.

Newbies that can't control their greedy will go straight for leverage trading, no matter how much you try to shut down that idea in their head. I think you should let them be to lose their money and know-how scary leverage trading is without any knowledge.

Trading such different amounts is, I think, very different.  Mental stress will make itself felt.  And this will influence the correct choice of decisions.  This is a complex business that requires a lot of time and investment.  This is work on yourself first of all.  Secondly, training and technical analysis.  Another important aspect is quick decision making and psychological balance.

Many people with a small fund never actually made their funds become big because of leverage trading. Too impatient with a small fund = putting at very high leverage and easily lost all of their funds. You need to be slow and steady when it comes to leverage or better yet, don't do it at all and stay with spot trading, buy low sell high.

I agree on the point that when doing trading you must equip yourself not just financially but also mentally as well as physically because all of those are correlated with one another. (1) Financially stable in a sense that when doing trading, you must have your own fund to use and not a borrowed one so that you will not feel any pressure that you must earn on an instant to be able to pay right away the capital you have borrowed to get started. (2) Mentally because trading will challenge the way you think and perceived regarding your trading strategies and how you can be able to cope up on the changes happening in the market that can affect your trades. In mental strengthening, emotional handling comes in because if you have a stable mental perception this is when you can control your emotion not to drive your decisions with impulse because of what you just feel in your emotion. (3) Physically in a sense that upon trading you must also strengthen your physical aspects because there might be times that there will be sleepless nights for you do not want to miss any opportunities on the volatile market that can be favorable on your part.

With regards to not all people are capable on doing trades, actually for me all are capable it just so happen that they still do not know how to do trading but if they will study to learn and understand how it is done, they can still do on trading. It just so happen that we have already know how to trade which makes us capable to trade on which at the first place we also started as newbies. If we have done that to reach this point, then other people starting can do it also. Just do not rush things and make time for learning before engaging.

True. I would never suggest any newbie to start leverage trading because you can lose money as easily as you can gain money. There are tons of YouTubers claiming you can easily make money using leverage trading but they are just trying to up their referral count so that they can make money.

specifically for trading in this crypto market there is something different from other trading. the crypto market is volatile and has not been legalized by the government. so in addition to our proper analysis of trading, being careful when entering into market exchange is also important. where we have to really choose a market and platform that is trusted and has high liquidity.

That's about to build your mentality to adapt to the situation that was happening with the market. As you can see so many newcomers were trading with a lot of money and that's very risky to be done by a new trader that knows nothing.

That rule was made by you or you have a mentor that monitored you and gave those guidelines for you to follow? I think you have made it properly and that kind of ruling as a new trader is a basic requirement. The discipline that you have learned with that rule made you a better person and at the same time a trader. If you were able to make such amounts with a capital of $100 and you are very disciplined, how much more you can with $1000 capital.

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.

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.

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.

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.

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.

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.

Sometimes leverage system is a good for someone who just have small money. Yeah, I often see some youtube channel who provide that he got $900 just in one day with he spent $100 for his capital and yeah that is a crazy thing. And otherwise, I follow the rekkt whales telegram group and in one day I always see that there are a lot of investor (most likely whales) who just lose at least $100.000 for their trade. I don't if I were them maybe I will go crazy if I lost $100.000 just for trading. You are right mate, leverage system is not deserve for newbie trader who just blindly open and may tend to be greedy.

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

 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.

leverage is important, but I generally do not recommend anyone to trade with leverage if a person is not a professional trader and has less than 10 years of experience in trading

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.

That sounds like greed, this is why I fear trading, I don't like trading and dreaming at the same time, you will get greedy fast and when you make enough profits always withdraw back into your wallet before you make a stupid mistake that will cost you big loss

agree with this statement. however, people only show when they succeed in making a big profit, and cover up the failures they get. Well, that's a common thing. I also suggest not to rush into something new, especially when you are driven by the benefits. however, always keep track of the risks you can get.

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.

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,

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.

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.

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.

Traders will create different strategies based on what will work for them and not just following those strategies that have been taught by another good trader. Yes discipline should always be present in trading and do not let your own greed rule your trading because it won't make you a profitable one. And don't ever think that trading will make you wealthy in just a single day, that's totally a lie. Trading should be learned one step at a time and experience will help you to be a good trader after learning from all the mistakes you have committed.

 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 the main reason I don't listen to those that advice me to trade on this platform, showing me there profit as evidence of payments cos I do know it will only end in scamming people.
I only trade on what I feel like, not something someone showed me or advised me to do, due to their profits.
My friends are victims of such scams. Don't want such to happen to me neither

Some might misinterpret the patience to be something else. They might feel waiting ordinarily will give them the right solution to their trading. Trading is much more than that, it involves careful study. You study the coin you are or want to trade, as well as the exchange. There are certain tings that can't be change, it is the circumstance surrounding the trading.

strategy is important, but i agree with the OP, because he said discipline is the most powerfull weapon for trading
and don'r forget about patience, because we should wait the right time to enter and exit the market and its need patience buddy

Youre absolutely right because the message passedby the OP was training oneself to be a better trader irrespective of the capital but I still don't see been discipline as the only character to be a successful trader because portfolio management knowledge is also needed especially when a large capital has been achieved.

Yes, those who were highly hyped just jump in to trading platform and buy the overly hyped coins or cryptocurrency.  They were so excited thinking that they will gain a huge amount of profit if they rush in, and those who fear missing out the opportunity to take profit.



You may not believe it but it really happens.  See those people who bought at ATH and end up bag holding worthless coins.

Yes, that's a different amount but OP wasn't talking of its differences, as that is just numbers, what you need is the skills to trade because if you have that already, you'll be consistent and you can be profitable regardless of the amount you trade. Consistency means long term success in trading.

Can anyone really be rushed or pushed into trading? I think I find that hard to believe and if anyone allows himself to be pushed into trading without having all the knowledge needed for successful trading, then he is bound to meet a great loss. Trading is a venture which needs appropriate training, learning and enough time to perfect it, it is not something that can be rushed into just because a friend is doing it. Therefore I agree with the advice, let every potential trader do so, that is, trade only because he has found himself ready for it.

Well said. I engaged in this crypto world since 2015 but until now I am still not good in trading. I always got lose with my capital due to lack of self control and discipline. I am greedy to the price of the token which is not good although I knew it but I cannot make sacrifice not to sale or buy that token. To be a good trader needs a serious study and a long time to observes and lessen to what the market moves.

I think there are still some people who don't understand cryptocurrency and end up failing in cryptocurrency, if you look at the current conditions many people still don't know about true cryptocurrency and when they are tricked into hype or fake investments using cryptocurrency then new traders will be disappointed and consider cryptocurrency not good.

People trade for different reasons and with different strategy. A trading strategy for long hodlers won't be the same as a short term holder, traders who profits from price fluctuations and the day traders who earns from trading. The priorities of event traders may not be same as of a grid trader. You first need to set your priority and devise a strategy for your own.

Its hard to accept but many newly learn in crypto trading do that and  They think they can easily earn money with trading , like what their  friends are earning. And wortse part is they became in depth and don't know how to paid those depth  that lost in trading  because of wrong decision in life.

Its ok to trade as long as you own the money you will use and  not borrowed  from friend because the risk you may experience in trading is very high and you may lost even you capital if you make a wrong choice .

Yeah i have seen some people just showing profits and those too big ones and on almost daily basis, this is a new kind of scam where they want people to invest with them or let them trade their account, those whos trade know that making profit daily consistently without loss is not possible.

That's the worst decision to be done by unexperienced traders. In fact when you were using the loan to buy assets and it's just like putting your life into your project. There was a huge chance for such a project to be a failed project.

you're not entirely wrong.. but I still feel theres more to trading than you've just mentioned.. even when you're sure you've done it all right..  something could still go wrong... for me .. I say trade only what you can afford to lose

Some of the newbies also have the impression of trading to become rich overnight having been shown some fake or Photoshop huge profits of some fraudulent traders  in a bid to luring them into trading thus hyping them into it unprepared.
I also advice newbies to learn the rope and acquire all the necessary skills and knowledge before delving into trading else their portfolio can get rekt within a shortest period of time.

Indeed. People who are mentally strong tend to do much better in trading than people who are just financially strong. Money is of no importance if you don’t know how to make proper use of it. Trading is all about ups and downs and you should start getting used to it before you try to win big by risking big because there is always a possibility that you could lose your whole principal amount.

Patience, discipline, straight head, technical knowledge about the market, smart predictions and quick decisions make a successful trader.

There is also hype in trading. For experienced traders, it's an easy task to fulfill while if they see the results, there will be newbie that will be hyped with their experiences. And in their mindsets, it's easy to trade and it's the fastest way of making money through cryptocurrencies.
But in reality, those experienced traders went through a lot and failed first before showing their successes to everybody.

This is a good advice and anyone who listens will mostly make a good trader. Just like you rightly said, trading is not child's play because at every point funds is involved which will either be lost or gained more and the only way to gain more is by sitting down to learn. Most people today that complains about trading are likely those who jumped into it without enough knowledge. Therefore my suggestion is still same as yours, which is, anyone who really want to trade and make the best out of it should first and foremost learn about trading.

Are there any real steps on how a newbie can do better on trading? How a newbie can start trading? This is quite common advice actually. I am not good at trading and I'm starting to learn about it.
But, what I know if we are going to enter in trading, there are some basic things that I must prepare:

1. Mental preparation (psychologically)
We must be ready for the profits that will make us very happy, but we must also BE READY for the RISKS of LOSING OUR MONEY. Many newbies like me may not be ready for the risks so that when we are losing, we will be so stressed and cannot move to the next step.
2. Fund
We must prepare the number of funds in which they are "free money". The mistakes commonly done by the newbies like me are about using non-free money in order to get more profits directly through trading because of following other people. And in fact, we lose the money so easily. And we can get stressful again. Moreover, the money must be sued for other very important necessities.
3. Strategies and how we analyze the market
this is what I still feel confused because everybody will have their own strategy and system on analyzing the market. we cannot follow the other people's strategy because it may not work on us. This is so difficult to do. And amount of money will also influence how we trade. Of course, I think that trading $10 will be so different from trading $10k.

Actually, there must be still several things to consider and think if we are starting ofr trading. But the three above are at least the things we consider basically.

Before these traders become successful, they suffered a lot of losses.
And if we are talking crypto here, experience will help you a lot in understanding the market.
Most of the time, the knowledge of TAs doesn't help in attacking the situation.
However, having the basic knowledge will be useful in some cases.
So if you are a newbie in crypto trading, you really need to start small up until you grasp the market.
In time, you will learn some tips and tricks in trading.
Even veterans in crypto can make mistakes, because the market here is very different.

It's not only the psychology but remember when there was no liquidity in the market and it will be much more difficult to liquidate your money too.
Trading is about how to combine all of the things related to the sentiment, psychology and fundamental to be analyzed by us to get how potential a coin.

yes discipline is needed to be a succesful traders, but you need to understand how to trade properly,,
know how to analyse the market with fundamental analysis and technical analysis
and don't be greedy, because a trader's illness is fear and greed

I believe that traders who have no trading experience for more than 10 years should not use credit money to buy assets. I had a very sad experience in 2018. 

I believe you interchange the amount, it should be "The same discipline you apply to a $10k account is what you should apply to a $10 account.  Else you are just implying to not get serious about trading which is the contrast of what you are trying to convey.



I think it should be "it is too good to be true that anyone can be a good trader when they only show you the profits they make." 

Anyway, I do agree that a person must do a research and study any venture they wanted to get in and that includes trading.

That’s very true. Successful traders usually show their histories of trade where they have made tremendous profits and not the part where they have even lost lumpsum amounts. Doing so makes the new traders believe that making money via trading in the crypto market is easy. And when these new traders lose, they get disappointed and lose their hope and calm.

The reason behind this is that they were never taught that there are also a ton of losses that could happen while trading as the market is highly volatile. Patience is the key to be a successful trader. Life cannot always have highs; it also has lows.

That's why we said that trading is not for everyone, because it really takes a lot of preparation not just financially, but you need to be mentally tough as well. Can you take seeing negative in your account? Are you emotional trading? So you need to have discipline and learn to control your emotions, you shouldn't trade with your heard, but used your brain to make logical decisions.

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.

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