There's a lot of tips and guide that has been already discussed here it seems all are saying redundant and usually are basin in trading.
Just like on these links, there are more of them but I only got those well-detailed posts about the trading tips.
Crypto trading tips based on years of experience --- by Raja
5 Big mistakes for a beginner in cryptocurrencies ✌
Trading is not just as easy, you need to have a knowledgeable enough before you're going through. OP has a good insight even though this is not fully detailed but there's a lesson to get. You may look at those links and add them into your OP.
Topic: Some essential trading rules beginners! - page 4. (Read 686 times)
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!
This is not only good advice for trading, but for anything in life. Whether you're playing poker, crypto trading, or putting an alternator in your car. If you get emotional, step back away from it for a minute and clear your head. You'll probably come right back to it and handle whatever issue came up. It's happened to me many times. It's just hard to think straight whenever you're all worked up over something.
Most beginner traders go in blindly without knowing anything. Reading about terminologies and market movement is nice and all, but your own analysis and takes to the market is what builds you up as a trader. It's your so called foundation in the business.
You should probably add avoid trading when in debts or currently paying a loan. It's pretty hard to remove emotions themselves or the hope of hitting it off when you're desperately looking for money after all.
You should probably add avoid trading when in debts or currently paying a loan. It's pretty hard to remove emotions themselves or the hope of hitting it off when you're desperately looking for money after all.
7. Always invest the money that you can effort to lose!
You must mean afford.
All in all, these are great points to remember. These reminders and warnings have been discussed her many times though. I hope they have helped a lot of traders. Take note, however, that it is always easier said than done. For example, the most common advice is that be objective rather than subjective or emotional in your trades. The problem is that the objective assessment could be both erroneous and uncertain. And secondly, emotions are really hard to turn off, believe me.
7. Always invest the money that you can effort to lose!
You must mean afford.
All in all, these are great points to remember. These reminders and warnings have been discussed her many times though. I hope they have helped a lot of traders. Take note, however, that it is always easier said than done. For example, the most common advice is that be objective rather than subjective or emotional in your trades. The problem is that the objective assessment could be both erroneous and uncertain. And secondly, emotions are really hard to turn off, believe me.
7. Always invest the money that you can effort to lose!
You must mean afford.
All in all, these are great points to remember. These reminders and warnings have been discussed her many times though. I hope they have helped a lot of traders. Take note, however, that it is always easier said than done. For example, the most common advice is that be objective rather than subjective or emotional in your trades. The problem is that the objective assessment could be both erroneous and uncertain. And secondly, emotions are really hard to turn off, believe me.
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"!
UPDATE: And here you can read a related article based on real trading experience.
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"!
UPDATE: And here you can read a related article based on real trading experience.
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