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. If you are not checking your portfolio constantly and see what is happening and whats going on with it, you will never know until you look into your exchange account.
I personally have one in my phone and whenever something major happens it sends me one of those notifications and tells me something major happened. Without that I wouldn't have caught up with many of the ups and downs and I wouldn't be able to trade the way I have been trading for years now.
To all traders out there, install an app to your phone for portfolio and allow it to send notifications, it would enhance your trading more than you can imagine.
Topic: Simple trading advise for newbe that should follow - page 2. (Read 343 times)
Pen and Paper. I know you guys do not like to hear that because we live in a technological world where everything could be done on a computer and that is why many people look at me like I am some cave man when I use pen and paper but at the same time think about how easy it is to just write down stuff to check out later.
Pen and Paper can be used perfectly when you are working on a new trading system, if you found yourself a method of how to trade, without actually doing the trade, just note down the time, the price, the coin and basically all the details and then whenever you have to sell it according to your strategy, write it down once again and calculate how much is the difference, are you profiting, and if you are profiting how much is it per hour of work you put in and check what the results are. That way you can test your strategy without spending a single dollar. Just Pen and Paper.
Pen and Paper can be used perfectly when you are working on a new trading system, if you found yourself a method of how to trade, without actually doing the trade, just note down the time, the price, the coin and basically all the details and then whenever you have to sell it according to your strategy, write it down once again and calculate how much is the difference, are you profiting, and if you are profiting how much is it per hour of work you put in and check what the results are. That way you can test your strategy without spending a single dollar. Just Pen and Paper.
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Learning to trade is the first lesson for new people. They can find a good lesson about trading from the internet, or they can find it here. After they know how to trade, the next thing is they need to practice because, without practice, you never get experience which will improve your skills in trading. Never force yourself always to make a profit because the market will not always change as you wish. But be patient, stay calm if the trend is down, determine the right time to buy and sell. Becoming a pro trader needs time, and every people start from zero experience, so give yourself time to understand how to trade with the right, and you will see that in the future, you will become a pro trader.
Don't trade when you don't know anything about trading or what you'll do about it. Must have to know the basic first...maybe this is a simple tip for newcomers.
Yeah, we need to learn something. And it is much easier for us to understand what we should have to do if we do it manually and with our bare hands. But all of this wasn't so simple coz in the case that we need to saw some seeds and watch it grow then we can harvest the fruits later. It is must be in a little by little until we finally understand what we do.
Novices should make time and effort learning and improving their skills, being successful in trading needs a proper education because you'll be facing a lot of risk. Reading articles and books might help them gain knowledge that can guide them as they start to explore trading. Learning to trade by yourself is difficult because there will be a time that you will question yourself where to begin, but it will be definitely worth it because your understanding can help you make the right decision for your trades. Yeah, we need to learn something. And it is much easier for us to understand what we should have to do if we do it manually and with our bare hands. But all of this wasn't so simple coz in the case that we need to saw some seeds and watch it grow then we can harvest the fruits later. It is must be in a little by little until we finally understand what we do.
understand the four main phases of a security such as accumulation, expansion, distribution and contraction
Don't trade when you don't know anything about trading or what you'll do about it. Must have to know the basic first...maybe this is a simple tip for newcomers.
Yeah, we need to learn something. And it is much easier for us to understand what we should have to do if we do it manually and with our bare hands. But all of this wasn't so simple coz in the case that we need to saw some seeds and watch it grow then we can harvest the fruits later. It is must be in a little by little until we finally understand what we do.
Yeah, we need to learn something. And it is much easier for us to understand what we should have to do if we do it manually and with our bare hands. But all of this wasn't so simple coz in the case that we need to saw some seeds and watch it grow then we can harvest the fruits later. It is must be in a little by little until we finally understand what we do.
Trading is really risky if you take it easily without basic preparations. This is the reason why trading is not for everyone because most of the newbies today are expecting immediate profits without even studying the market well and how the crypto coins perform in the market. It's really a must to gain knowledge first from reading books and other resources and watching demos in the internet so you can minimize you losses once you start trading as a newbie.
So is anything in life. Check out the ads done online for all these trading apps, they all have those statistics that say 76 or 82 or whatever of traders LOSE money. Are you saying the majority of traders don't make basic preps? I tell you, even so-called experts and veterans lose money after a while because they get confident after a few wins.
Trading is also like in some online earning sites such as E-gambling platform, Investment platform and other online platforms that is used in earning money. In using those platforms are not 100% sure in earning profit every day, because we can’t predict our winning in just simple try. I must advice to all newbie in trading is to be patient on studying the flow of many. Second, is don’t be too greedy in a simple winning because if you feel greed your mindset and actions will also affected on it and maybe it will lose you on every time you trade.
Dude. Take one minute, breathe, and read about what people are really talking about. And then, if you have any actual experience, then you contribute. If not, seriously, do you even know what you're talking about?
Well, I must say for the new comers in cryptocurrency trading is to follow what has been posted in the OP, sure it's helpful, but there's just one of the many essential thing that helps you throughout your trading career, and that thing is called "experience".
There are actually a lot of trading tutorials in the internet and there are also video tutorials on youtube, which It is more easier to learn than learning from your own. There are a lot of learning stuff that are very important for your trading strategy, but then again, all of these will be effective once you have "experience".
So, those who planned to start a trading career, don't afraid to lose, and trade only what you can afford to lose.
Experience is really important, even though they follow the tips from the professionals, they still cannot make profit because of the lack of experience. Gaining experience is what we should focus in order for us to have better trading carrer. We can learn the strengths and our weaknesses by gaining experiences.There are actually a lot of trading tutorials in the internet and there are also video tutorials on youtube, which It is more easier to learn than learning from your own. There are a lot of learning stuff that are very important for your trading strategy, but then again, all of these will be effective once you have "experience".
So, those who planned to start a trading career, don't afraid to lose, and trade only what you can afford to lose.
Then you're saying that we just need to face the risk head-on without getting ready?
Experience is what we earned from doing it in a long time but as a beginner, you will not have that experience that is why you need to depend on the knowledge that you have. You should educate yourself on what you will be facing, learn from those experienced traders and investors, read books and articles and don't stop unless you're successful enough.
Well, I must say for the new comers in cryptocurrency trading is to follow what has been posted in the OP, sure it's helpful, but there's just one of the many essential thing that helps you throughout your trading career, and that thing is called "experience".
There are actually a lot of trading tutorials in the internet and there are also video tutorials on youtube, which It is more easier to learn than learning from your own. There are a lot of learning stuff that are very important for your trading strategy, but then again, all of these will be effective once you have "experience".
So, those who planned to start a trading career, don't afraid to lose, and trade only what you can afford to lose.
Experience is really important, even though they follow the tips from the professionals, they still cannot make profit because of the lack of experience. Gaining experience is what we should focus in order for us to have better trading carrer. We can learn the strengths and our weaknesses by gaining experiences.There are actually a lot of trading tutorials in the internet and there are also video tutorials on youtube, which It is more easier to learn than learning from your own. There are a lot of learning stuff that are very important for your trading strategy, but then again, all of these will be effective once you have "experience".
So, those who planned to start a trading career, don't afraid to lose, and trade only what you can afford to lose.
Then you're saying that we just need to face the risk head-on without getting ready?
Experience is what we earned from doing it in a long time but as a beginner, you will not have that experience that is why you need to depend on the knowledge that you have. You should educate yourself on what you will be facing, learn from those experienced traders and investors, read books and articles and don't stop unless you're successful enough.
Well its a must to educate ourselves before jumping into any investment opportunity, trading is not different because it has risk as well.
If we have knowledge on what we do the possibility to succeed from it is high since we're aware of how it works. Starting with small capital is better because even we made a mistake it will serve us a lesson to become better the next time trade.
Experience is the best teacher so its fine to have mistakes, just learn to return back with guts to do it the right way.
If we have knowledge on what we do the possibility to succeed from it is high since we're aware of how it works. Starting with small capital is better because even we made a mistake it will serve us a lesson to become better the next time trade.
Experience is the best teacher so its fine to have mistakes, just learn to return back with guts to do it the right way.
Well, I must say for the new comers in cryptocurrency trading is to follow what has been posted in the OP, sure it's helpful, but there's just one of the many essential thing that helps you throughout your trading career, and that thing is called "experience".
There are actually a lot of trading tutorials in the internet and there are also video tutorials on youtube, which It is more easier to learn than learning from your own. There are a lot of learning stuff that are very important for your trading strategy, but then again, all of these will be effective once you have "experience".
So, those who planned to start a trading career, don't afraid to lose, and trade only what you can afford to lose.
Experience is really important, even though they follow the tips from the professionals, they still cannot make profit because of the lack of experience. Gaining experience is what we should focus in order for us to have better trading carrer. We can learn the strengths and our weaknesses by gaining experiences. There are actually a lot of trading tutorials in the internet and there are also video tutorials on youtube, which It is more easier to learn than learning from your own. There are a lot of learning stuff that are very important for your trading strategy, but then again, all of these will be effective once you have "experience".
So, those who planned to start a trading career, don't afraid to lose, and trade only what you can afford to lose.
This is very helpful to those newbies out there. They should understand first the possible outcome if they don't know how to manage themselves. Knowledge, skills, and analysis should be always in trading and once you have these. The chance of making a profit will increase and maybe this is a good start for you. A big thanks to the OP for writing this, there are many maybe read this and begin to discipline themselves.
There are some experiences that I think people should learn before becoming a trader.
Do not invest based on anyone's advice, if you want to invest in a currency, do your own research on that currency.
Do not invest beyond what you are willing to lose, remember that the cryptocurrency market is profitable but also risky.
Control your emotions before making investment decisions, if you can't control your emotions, it's best not to make any investment decisions.
It is a popular saying we should only invest money that we afford to lose which means that if we put thins kind of money, we will not have any emotional attachment or feelings whenever we lose it. People are so excited when it comes from investments but the thing is they do not fully focused the risk management that can cause depression when they lose. We should also know how we will manage our emotions if we will trade. Do not invest based on anyone's advice, if you want to invest in a currency, do your own research on that currency.
Do not invest beyond what you are willing to lose, remember that the cryptocurrency market is profitable but also risky.
Control your emotions before making investment decisions, if you can't control your emotions, it's best not to make any investment decisions.
The pressure from the debts also made it impossible for him to calmly make important decisions.
Trading is also like in some online earning sites such as E-gambling platform, Investment platform and other online platforms that is used in earning money. In using those platforms are not 100% sure in earning profit every day, because we can’t predict our winning in just simple try. I must advice to all newbie in trading is to be patient on studying the flow of many. Second, is don’t be too greedy in a simple winning because if you feel greed your mindset and actions will also affected on it and maybe it will lose you on every time you trade.
Well, I must say for the new comers in cryptocurrency trading is to follow what has been posted in the OP, sure it's helpful, but there's just one of the many essential thing that helps you throughout your trading career, and that thing is called "experience".
There are actually a lot of trading tutorials in the internet and there are also video tutorials on youtube, which It is more easier to learn than learning from your own. There are a lot of learning stuff that are very important for your trading strategy, but then again, all of these will be effective once you have "experience".
So, those who planned to start a trading career, don't afraid to lose, and trade only what you can afford to lose.
There are actually a lot of trading tutorials in the internet and there are also video tutorials on youtube, which It is more easier to learn than learning from your own. There are a lot of learning stuff that are very important for your trading strategy, but then again, all of these will be effective once you have "experience".
So, those who planned to start a trading career, don't afraid to lose, and trade only what you can afford to lose.
Data is the most important thing you can have while trading, it may not be always 100% right and you may lose some money because of it but to trade without data means you are going in blind and have bigger reasons to lose money.
Compare these two people together, one looks at the chart, checks out indicators, reads the history, does his own TA and decides on what the price will do in the future depending on all of those data points, the other sees the price going up and buys. Which one do you really think has bigger chance to make money? There could be days when the second one is right, there could be more money with that person to actually change the game to his option, however almost all the time the first person will have the profit instead of the second one.
Compare these two people together, one looks at the chart, checks out indicators, reads the history, does his own TA and decides on what the price will do in the future depending on all of those data points, the other sees the price going up and buys. Which one do you really think has bigger chance to make money? There could be days when the second one is right, there could be more money with that person to actually change the game to his option, however almost all the time the first person will have the profit instead of the second one.
Also dont buy the FOMO most newbie's buy or sell when the price moves either to the upside and downside. If you have a target and indicator that it will go to that price be patient and dont panic when the market moves. I always get victimized by this, cause i supposed i was not really that experienced.
I think patience is the key to success in trade no matter what market you trade from my experience I saw including myself losing money because they lack patience.
If you have patience but don't have the knowledge, you will still lose.
No matter how patient you are, if you don't know when to do things you will still lose a lot. That is why gathering information, having the knowledge to do something is really important. You can't just swim without learning it right, as the OP said it. We also have indicators we can look into to be able to analyze the movements well for us to be in the advantage. Every small detail is important since they could always lead to our profit.
True , even you have a long patience to wait for the price of the coins you bough if you choose the wrong coins to invested you will just lost your capital. Knowledge is very important you need to know every thing about the project you invested what thier plan and if they have the ability to compete with other popular crypto . Right choices wil give you high rewards for waiting.
Also dont buy the FOMO most newbie's buy or sell when the price moves either to the upside and downside. If you have a target and indicator that it will go to that price be patient and dont panic when the market moves. I always get victimized by this, cause i supposed i was not really that experienced.
I think patience is the key to success in trade no matter what market you trade from my experience I saw including myself losing money because they lack patience.
If you have patience but don't have the knowledge, you will still lose.
No matter how patient you are, if you don't know when to do things you will still lose a lot. That is why gathering information, having the knowledge to do something is really important. You can't just swim without learning it right, as the OP said it. We also have indicators we can look into to be able to analyze the movements well for us to be in the advantage. Every small detail is important since they could always lead to our profit.
There are some experiences that I think people should learn before becoming a trader.
Do not invest based on anyone's advice, if you want to invest in a currency, do your own research on that currency.
Do not invest beyond what you are willing to lose, remember that the cryptocurrency market is profitable but also risky.
Control your emotions before making investment decisions, if you can't control your emotions, it's best not to make any investment decisions.
It is a popular saying we should only invest money that we afford to lose which means that if we put thins kind of money, we will not have any emotional attachment or feelings whenever we lose it. People are so excited when it comes from investments but the thing is they do not fully focused the risk management that can cause depression when they lose. We should also know how we will manage our emotions if we will trade. Do not invest based on anyone's advice, if you want to invest in a currency, do your own research on that currency.
Do not invest beyond what you are willing to lose, remember that the cryptocurrency market is profitable but also risky.
Control your emotions before making investment decisions, if you can't control your emotions, it's best not to make any investment decisions.
I accept as true with you it might be a loss to take a position that's why you've got to regulate your emotions first Not just within the case of newcomers we should always all learn to use our intelligence in order that we will learn something on our own Also before trading on a replacement site the termination should be verified and always maintain a positive impression.
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