Simple trading advise for newbe that should follow

carter34

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Quote from: Lasky366 on April 02, 2020, 10:30:00 AM

Do not buy-sell unless you have received a confirmation.

Looks like this coin is up then let's buy
Do not trade with such decisions on your mind

These are points that we can hold to and advise ourselves on. The place I'm looking at although is "unless you have received a confirmation" but it is better to get a personal confirmation.

darewaller

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I think testing is what they are lacking the most of, nobody really test themselves and their ideas before they actually start trading for money, if you look at all the newbie traders they actually start buying and selling with real money on day one, that is probably the most wrong thing you can do in trading world, everyone learns how to trade on their brain first, then they start to trade.

Create some sort of spreadsheet, and instead of actually spending money that way you will have the chance to test your skills before you can actually start trading. Nobody does this when starting, they just put some money into an exchange, buy whatever coin they read somewhere "will go moon" and then get upset when they realize it is actually dropping and not going up.

sheenshane

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The most common advice in trading is how to execute buy and sell decisions, know also how to stop-loss when you are using technical analysis that becomes predictions accurate result. Yes, there are too many tips and advice in trading but when you are in actual trading you forgot them all easily. Probably for me, the best practice is to have a lot of experience in trading. When you have mistakes at the same time you will learn about it.

DYOR is very important in trading to have good analysis, it doesn't matter technical or fundamental at least your instinct will always be got the right answer when predicting the market price fluctuation.

Wexnident

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Use your braaaiiiinnn. No offense, but really. Most trading tips are all about understanding the whats and hows of it. You can read it, say you understand it, but if you don't really do understand it then that's your fault. It's like how in drawing where no matter what number amount of tips you actually get, it's pretty impossible to get good at it in a single day, or week or month for that matter. Pretty much the same with trading, you can't get good at it after a single trade, or 2, or 3. All the good traders out there are an accumulation of experience which constitutes of wins and losses, maybe losses being more than wins. Advises are in the end, there to warn you, but only that.

maxreish

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In short, we should DYOR before deciding to buy/sell a particular coin. The hype doesn't mean the coin is really profitable, bear that in mind. And as for newbie, do not afraid to make some mistakes or some losses. That's part of trading. Just trade amount that you only afford to lose. Experience will teach you to become a good trader. Do not just overconfident about your acquired wisdom as we know that learning is always a continuous journey.

ScamViruS

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Don't do anything which you don't know. Trading is not a easy job or money making machine. There are many who come to trade, looking at screenshots of another trader's profit. No one can learn trading in a single day. This requires hard work. I have seen many traders who have been trading for three to four years yet do not call themselves trading gurus. So Newbies those who come to trade, increase your trading knowledge. Otherwise, the market may not give you second chance.

iv4n

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There're good advices on this forum for all newcomers who wish to try to trade, but as we all can notice most of them don't notice that. We see newcomers when they come here to cry about their loses. Now we have so a good deal of info about trading, about exchanges, specialized sites for that, bloggers, and many people who wrote about their experience in trading. Who wishes to learn about trading can do it for free, all someone needs is free time and wish to read and learn!
Trading can be profitable in many ways, in short or long run depends on strategy someone applies. I always recommend people to try everything they can afford to try, and to find themselves in specific strategy that suits their personality!

CryptopreneurBrainboss

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Quote from: Lasky366 on April 02, 2020, 10:30:00 AM

Quite few simple trading advise for newbe trader

Keep an eye on these and take the entry when the confirmation comes.
Then the profit will be suture.
Thanks

Learn the process than earn that'll be my advice. We make this trading of a thing look complicated by placing different rules on every decision a trader will take thereby making the whole professional look difficult. Trading is simply buying and selling of anything and the cryptocurrency market has even made it easier as anyone can advenyinto the field without any prior knowledge and learn the process then earn.

A newbie will learn more when they experience most of the don't of trading themselves although in a smaller budget since that's one of my recommendation for a newbie trader, "start small, trade in a low budget until you can handle huge funds".

maydna

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Quote from: desertfox470 on April 09, 2020, 10:07:43 PM

I think some basic advice is what many apply to the stock market. Find a platform that fits your needs. Buy low sell hogh, know your bottom dollar for losses, and secure profits wjen you can. Don't gamble money you dont feel comfortable losing.

Don't try to enter the stock market or crypto market before you learn something about trading because you cannot get something, and that can make you confusing. You should spend your time to read or watch the tutorial on how to trade so you can imagine or you can know the point. After you understand what you should do in trading, then you can enter the market, but you don't need to deposit huge money for the first time. It is necessary if you can try with the demo account so you can practice from what you read, and the best is you can learn by practice.

DevilSlayer

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Quote from: harizen on April 09, 2020, 06:55:33 PM

It's better for me to see newbies failing in doing trades on their early phase of trading journey. They will never be used in handling the risks if things are always going easy. As long as they learning every time they lose and not giving up to try again, that's good.

Reading basics is a must preparation prior to entering the trade but a newbie will just understand the deep meaning of those basics once they experienced it in actual. Professional traders today still got wrecked on decision making but since they are used to experience loss, they can deal with it anytime.

There's no shortcut to progress. Losing experience is a strong foundation that professional traders have. I'm not saying newbies should always suffer from a deep loss but they must experience the wrath of losing so that they will seriously try to avoid it next time.

Failing is important and required to newbies because it will serves as trigger for them to take serious on trading. There is no professional who doesn't experience failure, all of them overcame the failure and it leads them to become profitable trader. There are many lessons that we can learn if we fail, we should see it as advantage because it can help us to become trader who is consistently earning in the market.

desertfox470

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I think some basic advice is what many apply to the stock market. Find a platform that fits your needs. Buy low sell hogh, know your bottom dollar for losses, and secure profits wjen you can. Don't gamble money you dont feel comfortable losing.

Janation

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Quote from: ufaiz50 on April 09, 2020, 06:29:50 PM

what is very difficult is how we learn and where we begin. I'm sure we know how we should be traders who often make profits and rarely lose. that is by learning, but often we do not know where to study commerce and end up lost.

To be honest, it is not that hard.

Unlike in the past where you don't have that many sources to learn about trading and investing, right now, you could learn a lot from sites, articles, numerous books and even in this forum. Some of those people are just limiting what they are reading since when they see they are getting profits, they are stopping what they know, we shouldn't be like that.

harizen

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It's better for me to see newbies failing in doing trades on their early phase of trading journey. They will never be used in handling the risks if things are always going easy. As long as they learning every time they lose and not giving up to try again, that's good.

Reading basics is a must preparation prior to entering the trade but a newbie will just understand the deep meaning of those basics once they experienced it in actual. Professional traders today still got wrecked on decision making but since they are used to experience loss, they can deal with it anytime.

There's no shortcut to progress. Losing experience is a strong foundation that professional traders have. I'm not saying newbies should always suffer from a deep loss but they must experience the wrath of losing so that they will seriously try to avoid it next time.

ufaiz50

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what is very difficult is how we learn and where we begin. I'm sure we know how we should be traders who often make profits and rarely lose. that is by learning, but often we do not know where to study commerce and end up lost.

htsy585

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Lack of proper market understanding is the reason why lots of people are getting REKT through cryptocurrency trading, just like you can't hit the road with a car when you've not had experience on how it works is thesame way learning about the concept of the market is paramount, Arguably, majority of newbies coming into the market dosen't know about the risk involve cryptocurrency trading as all they care about is how to hit it big without much stress.

Ridwan Fauzi

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Most newbies to trade will be fail and go away not to trade anymore because they have no patient when they learn the basic knowledge against it. Moreovee if they bring the small amount of money to trade most of them will be give up because the profit is really small.

I'm not an expert to trade by the way but I often to trade and see some character (some of my friend) how their behavior when they do trade. I suggest to them to don't spend a lot of money first when they still how to trade but yeah they just ignore it and even some of them are tired and go away never come back. I think only a deligent person who can pass everything and face some step when they started.

rathaha10

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Everything in life requires proper orientation and most atimes when the outside world see people make fortunes from trading cryptocurrency, they do tends to rush into the market to have their own share only unfortunately their share do turns out to be loss most of the time. Proper understanding of anything you want to venture into is the key to success in life, you can't start trading without knowing both the basic and advance concepts of cryptocurrency trading, it will only lead you to doom. So my take is, learn properly before opening even account on a trading exchanges

quarkfx

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advises are good if newbie follows them , most of them just reads them and think that its good advice but none of them implement it to trading they do what they do , in real situation they do what they do

should follow , but they wont follow because they don't know how to do , they want quick and easy money

Assface16678

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For the newbies would like to join the world of trading. Please.. Please make aware about the things you need to do because trading is one of the riskiest things you can do into the world of cryptocurrency and fiat currency one of the essential in trading is the knowledge you need to take a lot of information about the market movement to be more aware of the price goes up or down and also it is better if we make updated about the news about trading because most of the time it affects the whole market and even if you lose on your trade evaluate your self what's wrong with your decisions and learn to your mistake so you can avoid this again.

nelson4lov

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Quote from: redsun114 on April 09, 2020, 10:17:22 AM

A trader must maintain a sheet for portfolio, if it is not sheet then they may go for any app or desktop tools. A trader without a portfolio tracking system is not a trader in my view.

In my opinion, having a portfolio tracking/management app is important but not mandatory. Because people don't use a portfolio tracking app/tool doesn't mean they're not traders. I've seen successful traders without portfolio tracking as they keep their holdings minimal. However, they've built a system around their trading career and they keep records of all trades themselves including wins and losses. Because it works for you doesn't mean it would for everyone.

Having a portfolio app pinging you a couple of times about prices can be frustrating especially when the market is on a downtrend like the one we had in mid February that Bitcoin went under $4K. Seeing such notification from a portfolio tracker might prompt the user to panic and sell if they're not careful. Whatever works for peter don't always work for Paul.

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