Topic: Some essential trading rules beginners! - page 3. (Read 686 times)
I agree to your thoughts. But I think there is only two important things things that we need to always to apply in trading as a beginner or even a professional. First we need to always knowledgable and have a continues learning to become motivated. And last one is avoid too much greed because it will drives you going to loss.
That list will be a good guide for new people who want to start trading. They need to know about that so they can prevent the losses, although the losses can come to them at any time. At least, new people will have some guide on how to control themselves in trading and what should they do and don't related to trading. But the important thing here is how much they can use their money in trading and only use the money you can afford to lose. Don't go all-in if the market is not good for trade.
indeed the rules you mentioned are some that should be important points of traders because they are new and do not have trading experience so they do not know the position of buying the right coin and selling coins at the right price, and usually beginner traders are also still easy to panic.
Not only beginners, even the experienced trader often to panic when something wrong happened in the market.
Crypto market is so different with stocks, everything can be loss in one night or price dropped more than 20%
So it's really hard i think for not panic because sometimes a bad news can effect the entire market
1. Yes, it's theoretically possible that you can make huge money in a very short period of time but there's very high chance you would end up loosing all your money so never think of making easy and quick money!
2. There is a big difference between Demo and Real trading although somehow everything looks almost the same. So if you are doing good in demo it does not mean you will succeed in real trading as well!
3. Never ever trade just by reading social media opinions! If you want to be a successful put work into it, study a lot. Understand the market itself, terminology, market participants, etc!
4. Once you have a comprehension what crypto/forex/stock market is now study trading strategies! They can be different and every trader has their own ways of trading.
5. Never trade when you are emotional (it does not matter happy, sad)! Be always calm and just have a rest from trading when you are not!
6. Never trade just because you have not traded today unless you are sure! There are days when is better not to make any deal and it's absolutely normal.
7. Always invest the money that you can afford to lose!
8. Always have risk management and money management! (Unfortunately half of the trader even don't know what these two are)
9. Start from learning by little instead of putting pressure on yourself and making the process stressful!
Yes they may all imply. Better yet start trading now or die tryin', get rich already let experienced taught you all the way long. But before all of this made out some little plan just a bit, like setting a budget plan, and after that stick with and do the thing above.2. There is a big difference between Demo and Real trading although somehow everything looks almost the same. So if you are doing good in demo it does not mean you will succeed in real trading as well!
3. Never ever trade just by reading social media opinions! If you want to be a successful put work into it, study a lot. Understand the market itself, terminology, market participants, etc!
4. Once you have a comprehension what crypto/forex/stock market is now study trading strategies! They can be different and every trader has their own ways of trading.
5. Never trade when you are emotional (it does not matter happy, sad)! Be always calm and just have a rest from trading when you are not!
6. Never trade just because you have not traded today unless you are sure! There are days when is better not to make any deal and it's absolutely normal.
7. Always invest the money that you can afford to lose!
8. Always have risk management and money management! (Unfortunately half of the trader even don't know what these two are)
9. Start from learning by little instead of putting pressure on yourself and making the process stressful!
While, trading or in the progress of trading monitor your short comings as a new trader, think of something different, think of your flaws as a trader and do compare all of it among the ideas of experienced trader by searching tips and whatsoever. Surely, you will improve a lot.
from the nine points you mentioned I took three points which I think are mandatory for beginners, those three points are numbers 5, 8 and 9,
number 5 is the thing to watch out for, number 8 is the basis, and number 9 must be done if number 8 and number 5 are understood,
besides those three numbers are additions,
this is just my opinion in order to make it easier for beginners to start what should be done first.
number 5 is the thing to watch out for, number 8 is the basis, and number 9 must be done if number 8 and number 5 are understood,
besides those three numbers are additions,
this is just my opinion in order to make it easier for beginners to start what should be done first.
1. Yes, it's theoretically possible that you can make huge money in a very short period of time but there's very high chance you would end up loosing all your money so never think of making easy and quick money!
Good thing you put this at number 1.
One thing I have seen that most of the newbies mistaken is that there is always profit in trading.
That aint true.
Higher chance of losing everything than making money if you have the wrong idea of it.
Greed and fear will come up and next thing you knew there is nothing left.
Well, I do think it will be helpful to those first visitors here or maybe just searching in google.
1. Yes, it's theoretically possible that you can make huge money in a very short period of time but there's very high chance you would end up loosing all your money so never think of making easy and quick money!
Good thing you put this at number 1.
One thing I have seen that most of the newbies mistaken is that there is always profit in trading.
That aint true.
Higher chance of losing everything than making money if you have the wrong idea of it.
Greed and fear will come up and next thing you knew there is nothing left.
Well, I do think it will be helpful to those first visitors here or maybe just searching in google.
These has been talked for years now, there is no reason to open topic after topic on how to trade and what are the trading rules. If you want to trade the only thing you should be aware of (the only rule) is bitcoin can go up or down. That's it, nothing more and nothing less, you may think bitcoin will go up and it can either go up and you would be right or it could still go down, you can think it will go down and it may go down and make you right but it could also go up.
When bitcoin will go up and down is known by no one but the whales or manipulators who have enough money to change the price, sometimes they are not even involved so it is just hype around bitcoin. Do not think bitcoin will do something and be 100% sure, never be 100% sure about bitcoin movements, you may end up losing a ton of money.
The post doesn't claim there's a way to predict the market for 100% but by following some rules you can increase the chances of being right! When bitcoin will go up and down is known by no one but the whales or manipulators who have enough money to change the price, sometimes they are not even involved so it is just hype around bitcoin. Do not think bitcoin will do something and be 100% sure, never be 100% sure about bitcoin movements, you may end up losing a ton of money.
Let me add this rules.
This should be know when we are already trading a lot, at the start we can try in minimal amount to risk and to understand how it goes, to explore and see what will happen if we let our self control us, after that we will realize that this 2 especially setting target were indeed needed. Learning from experience and trying to explore some risky moves are good so when we fully trade a lot we know the things that we should really avoid. We must not greedy and we must accept that we need to stop being loss that make our self hope more that can broke us more. - Always set stop loss in every trades.
We can't predict when will the btc's price will go up or down. In short, there are so many sideways that can lead to the big losses. However, setting stop loss will definitely lessen the possible huge lose.. - Set target profit.
When we are greedy to aim foe high profits, sometimes itnis unhealthy and can probably mess up everything. Setting target profit will eventually give you a smooth trades.
indeed the rules you mentioned are some that should be important points of traders because they are new and do not have trading experience so they do not know the position of buying the right coin and selling coins at the right price, and usually beginner traders are also still easy to panic.
There is a thriving industry of social media influencers who offer courses on everything related to trading and investments, where some charge even $2k for a full course.
I also noticed this. Especially here in our country, they are totally spreading anywhere, shilling their own profits just to lure some newbies to subscribe on their trading group or courses.Even in twitter, there are lot of famous twitter profile of different traders that are very aggressive especially on their courses. Well, we can't force them.
But it is really advisable to learn by ourselves especially when we don't have that much money for starting to trade.
These has been talked for years now, there is no reason to open topic after topic on how to trade and what are the trading rules. If you want to trade the only thing you should be aware of (the only rule) is bitcoin can go up or down. That's it, nothing more and nothing less, you may think bitcoin will go up and it can either go up and you would be right or it could still go down, you can think it will go down and it may go down and make you right but it could also go up.
When bitcoin will go up and down is known by no one but the whales or manipulators who have enough money to change the price, sometimes they are not even involved so it is just hype around bitcoin. Do not think bitcoin will do something and be 100% sure, never be 100% sure about bitcoin movements, you may end up losing a ton of money.
When bitcoin will go up and down is known by no one but the whales or manipulators who have enough money to change the price, sometimes they are not even involved so it is just hype around bitcoin. Do not think bitcoin will do something and be 100% sure, never be 100% sure about bitcoin movements, you may end up losing a ton of money.
I think what you say is indeed very important for traders but you should know that new traders are more lazy to learn because they come in bitcoin just want to get instant profit, they sometimes don't care about good and correct trading rules.
Finally someone who understands how newbies are.... the part I don't really agree with is where you state that people don't care about good and correct trading rules, because they do and are willing to pay big money for it to "experts".There is a thriving industry of social media influencers who offer courses on everything related to trading and investments, where some charge even $2k for a full course.
One must be quite desperate to learn how trading works to actually pay that much money to someone who pretends to be an expert but in reality only knows the basics. If people didn't care they wouldn't pay that much.
8. Always have risk management and money management! (Unfortunately half of the trader even don't know what these two are)
9. Start from learning by little instead of putting pressure on yourself and making the process stressful!
For me, this is the most important. The risk management.9. Start from learning by little instead of putting pressure on yourself and making the process stressful!
There are lot of traders nowadays that has still lack of knowledge in risk management, event they are already trading for months or years. Newbie or not, day trader or not. They have still not risk management which is difficult. I admit that I am also like that before, but when I learned the risk management, my portfolio becomes healthy.
Risk management is very important. But it is going to be a minor consideration to one who has yet to know the basics of trading. Learn to analyze and trade first before anything else. Even if you are very careful in every step of the way and risk too little, if you do not win in your orders, you are still losing.
Both points in 8 and 9 may be tied to emotions.
Let me add this rules.
- Always set stop loss in every trades.
We can't predict when will the btc's price will go up or down. In short, there are so many sideways that can lead to the big losses. However, setting stop loss will definitely lessen the possible huge lose.. - Set target profit.
When we are greedy to aim foe high profits, sometimes itnis unhealthy and can probably mess up everything. Setting target profit will eventually give you a smooth trades.
8. Always have risk management and money management! (Unfortunately half of the trader even don't know what these two are)
9. Start from learning by little instead of putting pressure on yourself and making the process stressful!
For me, this is the most important. The risk management.9. Start from learning by little instead of putting pressure on yourself and making the process stressful!
There are lot of traders nowadays that has still lack of knowledge in risk management, event they are already trading for months or years. Newbie or not, day trader or not. They have still not risk management which is difficult. I admit that I am also like that before, but when I learned the risk management, my portfolio becomes healthy.
Thank you, but these tips are as old as the world and in general, trading will not teach. If you want to engage in day trading, then you definitely need to study for a long time, it is better to take special courses and practice for a long time on demo accounts. The best thing for a beginner is just to buy good cryptocurrencies for the long term. Great investors say that the chances of losing money with day trading are much greater than with a simple investment.
9. Start from learning by little instead of putting pressure on yourself and making the process stressful!
This results to information overload and most beginners will end up not mastering anything at all if not corrected. This was one of my mistakes when I started. 
I think what you say is indeed very important for traders but you should know that new traders are more lazy to learn because they come in bitcoin just want to get instant profit, they sometimes don't care about good and correct trading rules.
Yes there's massive information on trading regardless its crypto or other financial markets and there are some vital facts that you must now before going into it!
1. Yes, it's theoretically possible that you can make huge money in a very short period of time but there's very high chance you would end up loosing all your money so never think of making easy and quick money!
2. There is a big difference between Demo and Real trading although somehow everything looks almost the same. So if you are doing good in demo it does not mean you will succeed in real trading as well!
3. Never ever trade just by reading social media opinions! If you want to be a successful put work into it, study a lot. Understand the market itself, terminology, market participants, etc!
4. Once you have a comprehension what crypto/forex/stock market is now study trading strategies! They can be different and every trader has their own ways of trading.
5. Never trade when you are emotional (it does not matter happy, sad)! Be always calm and just have a rest from trading when you are not!
6. Never trade just because you have not traded today unless you are sure! There are days when is better not to make any deal and it's absolutely normal.
7. Always invest the money that you can afford to lose!
8. Always have risk management and money management! (Unfortunately half of the trader even don't know what these two are)
9. Start from learning by little instead of putting pressure on yourself and making the process stressful!
I hope someone finds this useful! Wish you all "take profits"!
1. Yes, it's theoretically possible that you can make huge money in a very short period of time but there's very high chance you would end up loosing all your money so never think of making easy and quick money!
2. There is a big difference between Demo and Real trading although somehow everything looks almost the same. So if you are doing good in demo it does not mean you will succeed in real trading as well!
3. Never ever trade just by reading social media opinions! If you want to be a successful put work into it, study a lot. Understand the market itself, terminology, market participants, etc!
4. Once you have a comprehension what crypto/forex/stock market is now study trading strategies! They can be different and every trader has their own ways of trading.
5. Never trade when you are emotional (it does not matter happy, sad)! Be always calm and just have a rest from trading when you are not!
6. Never trade just because you have not traded today unless you are sure! There are days when is better not to make any deal and it's absolutely normal.
7. Always invest the money that you can afford to lose!
8. Always have risk management and money management! (Unfortunately half of the trader even don't know what these two are)
9. Start from learning by little instead of putting pressure on yourself and making the process stressful!
I hope someone finds this useful! Wish you all "take profits"!
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