Topic: Step you have to take before venturing into the market - page 2. (Read 490 times)

Sometimes I like futures trading and sometimes I don't, usually I trade futures when I read and find good information and the potential for prices to increase, unfortunately information like this is not very accurate, sometimes I'm confused when I see people who are experts in futures trading , no experience no learning

It is very wrong of any trader not to be fixed with what they want to do in the market, you do not do a thing today and do another tomorrow, the ideology and psychology must be fixed, which will help traders to be decisive, thorough and focused in what they do. If you lose, preserve your trading psychology and the same goes for the time you gain, it must be the same so that nothing shifts the trader out of the balance of their core value in trading. The best part is that trading is so strategic, just first get the right trading strategy that can vouch for winning for the long term, then find the best management that will support the strategy so that it will never be discouraged.

It is after this you blend them together to form a good and working system, and when the system is truly good, more winning will be achieved than losing, and this is a pretty good encouragement that will be able to challenge any iota of discouragement in your trading. Mind you, you work well on your ego, overtrading, greed and other psychological issues which positive results of trading could cause, and if it is negative, you work on the fear which I do not think will come to one's mind again when they are indeed good with their trading system. Above all, find a working trading system and preserve your psychology, and then you are good to go in trading at large.

Many people trade futures without having any knowledge because they think futures trading only requires guessing up or down and looks quite simple. But when they always lose, they will understand that futures trading requires good trading skills to analyze and manage when trading. whatever money is used for futures trading will be lost if one is not alert and does not have any plan.

The first point was very important for any newbie who wanted to venture into trading 'knowledge is power' it one of the greatest asset for any new trader learning and studying all trading related stuffs TA, candlestick patterns, Price Action, learning how to control emotions etc.
Patiently wait for your trading setup to unveil before pulling the trigger to buy or long would help a trader to avoid late entry, Moreso leverage is also important because it has to be reasonable one kept at a moderate rate to avoid getting liquidated of course many newbies in their bid to get rich quickly ended up trading with high leverage consequently lost their fund, in case of managing the risk a Stop Loss is very important after placing a trade to reduce risk and protect account

Well of course, first and foremost, you wouldn’t care to follow all those tips when you don’t adopt self-discipline that will direct you to the right path when trading. Although having self-discipline might be easy to say but it’s definitely hard to follow when you’re already in the real scenario when trading. The reason that’s why a lot of traders end up losing and quitting because they can’t control themselves from being emotional that becomes the best enemy when trading.

Discipline is one very important aspect of trading that most newbie traders lack and neglect, they are so quick to wanting to start making profit already because they saw some other person who's probably trading as is profitable already so they want to be there almost immediately, but then even as a professional traders you need to stay disciplined enough not to take every trade, sticking to your strategy and always applying your risk management, sometimes the market may seem to avail you an opportunity that looks so good outside your strategy but discipline will keep you from just delving in because you never can tell how long such market conditions can last.

Self discipline when applied both in our day to day lives, helps us become a better person and in trading it makes you a better and profitable trader who can be sure to making profit more often than loss.

Paying to join a signal group is not advisable because Of how dependent is can make you become and make a new trader want to relax and not seek to want to grow but if you must join a signal group in your early stages as a trader make sure that you are doing so for the purpose of trying to observe the trading behavior and market strategy from a more professional trader that you usually would not know unless you sign up and join their VIP group. Do not join signal groups with the plan never to leave, that makes you dependent. A trader who is dependent will last long as a trader.

Before trading any token you must have enough knowledge about that trade. You must check the market value of the tokens you buy and then trade your tokens. The best weapon in the market is knowledge. If you have no knowledge about the market or trade, then you can't move forward. Of course you need to gain knowledge and have enough knowledge about the market then if you trade tokens you will definitely get success through it.

Many things may change once you are in actuality and many plans get ruined because of uncontrollable emotions. As far as self-discipline is concerned, it is a big struggle for beginners and most of them fail. I have no wonder it went through like that because committing mistakes is a part of learning and it helps us improve. But the most important is that we are very certain about our goal and even if we fall many times, we never quit and remain focused on our goal.

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as we begin our crypto journey we must have to do these things...
 - don't rush, it should be on step by step
 - focus on learning first, not on earning
 

I definitely agree.

You will also need some self-discipline in order to execute those things you have mentioned. It might be hard in the beginning but as the days goes by, you'll earn enough experience that will teach you how and when you need to apply each of those. Most of the newbies always think trading as a quick rich scheme, that's why they always in a hurry using a high leverage hoping to make a big profit in a very short period of time, resulting to a very huge loss.

That is the definition of trading: the higher the profit, the greater the risk. If the exchange is so straightforward, the carrier is simply out. That is why anyone who wants to start a trading should list down the carrier so that he knows how to execute it.
Knowledge is the first and most important punctuation mark in everything. Anyone who is serious about dealing with crypto should be familiar with all of the principles and technicalities before getting started. If not, everything he comes to do or try to invest in will fail, but if he puts a lot of work into it and learns about cryptocurrency, everything will come quite simple and easy for the individual.
Those who genuinely want to succeed in life need to possess patience as well. It is therefore beneficial for us to exercise patience. Because maintaining patience is the primary strategy for preventing losses in our trade and achieving our goals without suffering excessive financial loss.

Knowledge and experience are the most important keys for someone who carries out trading activities because basically trading does not guarantee regular profits and trading also has a large level of risk if it is not carried out correctly. Believe me, trading will be much more difficult than investing.

It's better to wait for the right moment than to force daily trading and if someone doesn't understand trading well then trying trading using small money first is a method that can be applied. Trading once a week or whatever the pattern is depends on a person's ability to face risks, control emotions and know when to stop because if this can be minimized then people can trade with daily or weekly schemes and patterns.

I can see some good points in what you said but people of nowadays that are venturing into trading doesn't want to follow some guidelines especially those you listed and they felt is one day in and two days profits even though I have not fully diluted into trading but at least I have seen some helpful material that one can read to get herself prepared. The more one keep practicing the more they becomes more active in trading and shouldn't start with what they can't afford to lose because at first it is very tempting and wouldn't know when they might used the wrong lots size to empty their accounts.

All the points you gave are valid in trade and I will asle add one to the ones listed. Don't rush when trading. Also be calm and that where patient which you mentioned come to play. Any trader who has not gotten enough knowledge on trading and because of the basic knowledge gotten from demo account will just waste his or her money in trading. Trading in is not for children play. Trading is not a Ponzi Scheme that people would go into and make money within a day or a week.

In trading you have to wear thick skin and know how to control risk.

Having a plan and following the plan consistently will end up successful. Unfortunately, most of the traders do it in the wrong way as they enter trading with a lack of knowledge and preparations which is why a lot of traders fail and quit. But I don't see it as surprising knowing that not all are destined to become a trader since not all can't dare to face the risk and can dare to handle stress and market pressure. That is why before we venture into trading, we must be aware of how risky and stressful is this, or else, never try it because surely you can't follow the plan due to mixed emotions.

Many investors or traders don't plan their exit points. It doesn't have to be an actual and full exit to the market but you set when you're going to take profits. Maybe you forget someday that you're here for taking profits in the market and because you're greedy enough, you are entirely doing the whole thing very wrongly. So, if these tips will make someone remember on how it should go for a trader, you need to set your points of getting in and out every time you plan to trade.

In theory, everything should be prepared and carried out seriously and with full awareness. Because we all understand that the crypto market is not something easy, but more complicated. Not only that, when we are going to enter the crypto business, we definitely understand the risks, the high risks so no matter what, we must prepare well.

Bu in fact, not everyone ideally does that, so this is what actually makes the image of crypto even worse. As explained in one of the lists, it is related to:
What was in their minds and thoughts about crypto from the start was excessive and tended to be inappropriate. They just see how successful people are currently with crypto, and they want to be like them. and their high hopes are sometimes fulfilled, sometimes they think that getting money in crypto is quite easy, so they already imagine getting rich faster. The problem is that they also don't want to learn and try more optimally. So here of course they will be unprepared for the real crypto marker conditions.

Without the knowledge, everything will be impossible as far as trading or investment is concerned. Knowledge will be the one to guide you in everything you do in your investment or trading. However, all the points you mention are things that, whenever you have the knowledge, those things will be done. There is no way you will do the remaining things you mention without the knowledge because it will be like the key to your success in the journey, although there are other things that are needed, and when you get them definitively, you will find it easier.


Patient is also good. Many people came and went because they didn’t have the patience to invest, trade, or even do anything in the market. Patience will make someone a successful person in crypto. With patience, you will learn, and at the same time, if you have patience, some times you will lose and some times you will gain. That is how it work, peope who came and leave due to lack of patient this are the things that affect them. So even the risk can not be taken without patient so everything is patient.

Seeing others make money easily makes people want to make money easily, which results with a lot of trouble, I understand that there could be a lot of people who would like to make some money without working too much for it, but the reality is that we are not going to end up with that much money to begin with.

We should be careful and just because we saw others making a lot of money doesn't mean that we are going to make money just like them, it is not going to be the same thing and we should be careful about it. I believe that the best thing to do right now would be just making sure that things go smooth. I understand it is going to be tough, but I also understand it is going to be risky as well, it is just not that easy to handle it all.

Failing happens because we assume that all things come too easy as we have money to fund trading and knowledge about the market. But it was not enough to lead us to success, it is also the need for patience and being emotionally strong which is very unfortunate that most of the traders don't have. We can say that trading is not for everyone, not for those who easily give up, and of course, not for those who are impatient and careless people.