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

Together with knowledge, you also should consider being wise. It's a much more royal version of knowledge because you can almost apply it anywhere and with wisdom, you will also be able to stop yourself from making bad decisions that's disguised as good or presents itself as a good decision.

Quite well, we need patience to be able to take up assessment in all situations and, this patient is not something we learn from books and articles it's something we conscious have to teach ourself, for with patient more experience is gathered based on what the outcome of our patients from not hasting to take a exit resulted in.

Knowledge is one of the most necessary thing in order to get success because without Knowledge a person looks like a blind whose thinking power is zero during difficulties. A successful person is that who know very well about getting profit during difficulties because with in favorable circumstances everyone can get profit but a real investor or trader will always look towards an opportunity and will tolerate harsh condition with his patience and Knowledge.

You should not think that from trading people have obtained profit but you are unable to do so but remember that every successful person was once like you therefore you can also work well by getting knowledge, and enhancing experience.

Patience is indeed needed in this market because it is not an overnight task to learn things.
Those tips and strategies can be learned throughout the years of your experience.
And do remember, each project is unique, thus, it is quite difficult to apply your learnings. You still need to assess every situation.
The strategy you used for one coin doesn't mean it will be applicable to your next coin. They have their own strengths and weaknesses, and that's for you to find out.

Acquiring the knowledge and applying it in your trading with a proper risk management strategy in addition to having patient with your trade can be a strong weapon against the market psychology which can be deceptive to new traders that  may have acquired the knowledge quite well but lacking patient with their trades, that at the event of unpleasant move of the market  against their trade they get too quick to take profit instead of being patient with their trade for the greater success of it that lies ahead with time. Some even out of fear exit the trade with a loss.

Anyone that thinks that trading is easy is either a natural born genius when it comes to the markets or someone that has never traded before, with the latter option being the most common by far.

And this is because when you do not know anything about trading, it may seem very easy to predict the markets, as you only need to buy at the bottom and sell at the top, which are easy to identify when you look at the charts, but what those people are not taking into account is that when you are trading for real no one really knows when the bottom or the top will be reached, and everyone is trying to make their best guess about when this will happen.

That is the thing we supposedly but unfortunately, many people underestimate how the crypto market works, they simply just think it is too easy and can still manage to trade so well despite the lack of knowledge and preparation. And so no surprise how they suffer losses later.

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We just hope that newbies will spend their time digging and learning more ideas, and stop rushing. We keep in mind that in order to gain success, we also need to work hard and stop assuming that we are well-prepared yet to continue learning.
 - have a concrete plan
 - strategies

It all works efficiently and successfully.

Everything that is listed below can be achieved if you have accomplished acquiring knowledge and understanding each of them so you will be guided properly before planning to venture into the market. Thus, thorough research and study should be a must, so you will be widely open to the risks and rewards that this crypto market is associated with. Otherwise, entering the market without long term preparation is like entering into gambling, you are confident to take the risk yet you don’t know how to win your game.

(5) plan your entry and exit point: most times this lack of planning cost us dearly, because failing to plan is like planning to fail.

This would be your best shot on doing this, on which you shouldn't really be that making yourself that greedy on which on the time that you do see the opportunity on making up profits then it would really be just that right that you should really be planning on having some exit rather than on holding your position, unless if you are really that holding it for long term. Somehow we do know that there would really be different types of traders or investors on which there are ones who do really love to see profits in a short term and there are ones who do love on holding just because they cant bare up with the risks involved.

This is why it would really be that best that you should really set up those kind of targets and plans so that you wont really be ending up on regretting on the time that you do see opportunity and grab
it rather than on letting it past and waiting for very long time before you could see that window of opportunity once again.

Even though it's quite far behind in your list, number 7 is the most important one for me. In trading it comes all down to risk management to make a long term career. For me I will always prefer to keep a closer eye on risk than to get the highest possible return out of it. Because we can only lose our capital once and after the majority of our capital is gone, it's going to be nearly impossible to recover again. I feel like a common mistake newer traders are making is to only focus on the return side of trading. It's so much cooler to chase the highest possible return and when you can show off among your friends how much money you made with your trades. I always feel like the higher we aim our returns to be, the more risk we need to take to get there. It's similar to the banks where risk management departments are not that popular, because they hold back everybody else to achieve higher profits and bonuses. In the end it's a very important department and we should accept the limitations they give.

i feel this, so many newbies out there after figuring out that there are feature like future trading they try to do with really high leverage just because they think it would be great making some good profit within short amount of time but we all know that these future trading are so volatile and with high leverage even slightest price dipping could cause our capital to get liquidated, its these price dipping or sudden flash pump that truly could disrupt the plan with future trading and these kind of thing happened so frequently that I think if anyone try to leverage like 25x or even 100x then be ready to maybe gonna get liquidated along the way even though the general trend of the coin itself is rallying when we are trying to long.

The first step for a newbie when starting trading is to stay away from futures and leverage trading because it's too risky for a newbie to manage and they can easily get liquidated without getting any profit unless they are lucky otherwise. The second step is to start learning, as you mentioned because you can achieve anything if you don't know anything at all. A lot of people might think of it this way, but trading is not like gambling where you place a bet, and wait for the outcome and you might win it. If you want to be a profitable trader, learn about it first.

A lot of newbie investors get into cryptocurrency trading without getting enough knowledge because they think it's very easy to earn money in this market which isn't true. Earning money is not easy, it's as simple as that. If you have money and you want to make money with it, you will need to learn everything about the investment you are going to make with it.

you are damn right bro. Self-discipline and patience are two of the most important requirements for trade. Believe me man most of the money lost by newbies is lost because of a lack of these two things. they start trading thinking that they'll earn some money quickly. so they buy a spicific token. but as crypto is volatile so some time that token's price start dropping which is normal in market. Experienced and knowledgeable traders know that so they Don't bother much. but newbies and unexperienced trading don't know anything and start panicking, and when they panic they loose patience and end up selling the token with lose..
so Newbies should always learn every aspect of trading before starting. and if they don't have self-discipline they should avoid trading at first place unless they are willing to take risks.

Now this one is what I really like because it is the same as the way I have been trading all this time. I also prefer not to trade too much if there isn't the right moment. I prefer to wait for the right moment that I can make good use of. I also prefer to avoid trading when my emotional condition is unstable. I will wait for my thoughts and emotions to be completely fresh before I finally jump into the market. Because emotions are very important in decision making and so that we can think better.

Mood is truly an important aspect of trading. Because a trader who is having problems in his daily life and causing him to be in a bad mood will definitely not be able to concentrate on trading.

Right. Before diving into the crypto scene, make sure to do your homework on Bitcoin and crypto in general. Once you've got the lowdown, you can craft a game plan for a successful venture. Happy crypto exploring

More than ever people want to sell a specific image about themselves in social media, even if this image has nothing to do with who they are in their real lives, and selling themselves as expert traders is attractive to many of them, as if they succeed in doing so then they will gain a massive amount of attention as other people will want to be like them.

However they are just the image without the substance to backup their claims, so soon enough they will find themselves unable to sustain the lie, as their losses become too big for them to hide anymore.

But in the end they realized that any trade was not easy to do even though some people thought futures trading would be much easier to do. People will realize that their abilities are not there in the trading when they experience losses on a scale and when they start to realize that they will give up instead of learning to understand how to trade correctly. Skill is indeed quite important and when someone does not learn properly then the opportunity to lose is quite large because there is no plan regarding trading patterns.

I am also not an expert in trading but I will see the moment when I want to get involved in it, or in other words I am not a day trader who has the ability to get involved in it regularly. It is better to decide to invest rather than maximize trading because everyone has different abilities and this must be seen before getting too involved.

Without experience and knowledge, I think it is difficult to trade futures considering that these two things are really needed. Sometimes many people keep quiet about trading losses and tell stories about their successes, this is why many people are proud to be called great traders. or on the other hand, maybe they prefer to subscribe to signals, making their trading easier

Of course, to get a trading system and emotional stability in trading requires several trials, experience or repeated trial and error. To avoid large losses related to this, we also need money management. Where MM is very vital in trading. And more importantly besides these 2 things.

Futures is somewhat interesting if you do really tend to look at on how fast you could really be able to make profit on the time that you would be able to hit up the right prediction on which it is really that an easy money but people do fail on thinking or mind off about or speaking about possibilities of losing on which they do really normally failed out on doing so. This is why being mindful about those things
even on the slightest possibility would really be that important because if you do just neglect out these things then its expected that you would really be ending up on a disaster.
This is why you should really be knowing on taking up some balancing in regarding reward and ratio and this is something that you should be having in mind.

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.

Going through the process of learning about crypto can sometimes make us bored because we don't understand crypto well, but if we can be patient with what we learn, we will be able to get results that are equivalent to what we learn, even if we experience a loss on the first try. Of course, this is normal so that we can correct these mistakes by not repeating the same mistakes again.

You are right, if we still have doubts about crypto it would be better to postpone jumping into the world of crypto and do further research about crypto so as not to make a mistake in deciding to enter crypto.

The thing I want us to know concerning trading is that, if you are determined in trading their nothing will make you to experience lost more profits, because before someone ventures into trading you have undergoes the concepts and know the rudiments of Trading and that is while people who did not learn very well will not understand the basics things that have to be the barrier in trading as well, secondly greediness is another factor that makes people to lose in trading so therefore I would like us to remove greediness and set it outside during trading so that we will make a profit.

The very first thing that you have to do before venturing in the crypto market is to establish your knowledge about bitcoin and the crypto space. With that, studying diligently and doing extensive research will help a lot so you will come up with valid information. When you already gained adequate knowledge, you can easily set up your plans and work on it to make a successful venture on bitcoin and on the crypto market.

Of course, this is why knowledge should come first and foremost. To be a successful trader, you need to devote time and some money to learn about crypto trading because trading is more difficult than crypto investment because crypto investment is easy because you will only learn how to buy and save your coin in your wallet, then learn how to secure your wallet and also have patience for a long time in order to gain the adequate profit they deserve; trading entails a very high risk because money moves extremely quickly due to a small mistake, which is why one must be an expert in trading before fully committing to trading.

The mindset of maintaining every business is similar to that of cryptocurrency because all of them involves risk management.

As a newbie I can say that after you lose your deposit several times, you will become much more patient than in the begining of your path. I deposited into my account at least 4 times and every time I lost everything due to fomo and lack of knowledge. After my last loss, I decided that this is not my business and I don’t want to do this anymore. But a week later I decided that I would make my “last” deposit and do everything according to science. And for some reason, after I deposited it, I realized that I didn’t have the same excitement that I had with the very first deposit, I was no longer angry when I lost and I didn’t smile like a fool when the price went in the right direction. I just draw conclusions and, if it was a losing position, I review the charts and look for my mistakes, and if it was a profitable position, I don’t feel anything at all and just prepare for possible future losses.

Agree, we can set all of those things before or on the time that we are  really just that making those plans on which on the time that you are on the actual condition or situation then this is where things
do start out to be challenging on which there's no way that you could really be easily making yourself that be following all through all of those things so easily or simply  you would really be bounding yourself
into those mistakes and errors just because applying those things that you had planned earlier do really fail on doing so. Somewhat making yourself that be wary about those guidelines is much more better
rather than into those people who do just simply jumped in without any preparations and awareness about the things that could happen ahead.

It would be always important and it would be always recommended that you should really be that making yourself that wary or prepared at least. You might missed up something
but doesnt mean that you wont really be able to patch it up, this is why it would be important that you should really know on when to adjust accordingly
if you do encounter those things.

Proper execution of those steps are the hardest part, that's what people have trouble with, that's what people are trying to avoid as well. I understand that it may feel like it is an alright situation but the reality is that knowing something and being capable of doing that said thing are two different situations.

Some people out there are capable of knowing and doing the same, some people do not know and can't do, but there are some people who knows what they should do and still fail to do it and these suggestions are not for them, they are going to need to be careful with what they are doing, and that's the most important part. I believe that we are going to be forced to focus on what we could do, that's the deal.

All the things needed have already been mentioned OP but the problem now is the proper execution of the said steps. Because whether we like it or not, this is not an easy task especially when we are totally no-how about crypto. And it was not just that, it came in a hard way as we can't learn and grow in a single day and sometimes we lose money for the sake of learning.

That is why before venturing into crypto, we assure ourselves that we can do it and that we can take the risk without worrying if we lose. Otherwise, don't make a decision to enter if we are in doubt.

Of course, it is very important for every investor to first understand market conditions well before making a decision to start trading and we also have to learn about the possible losses that we will incur if we make mistakes in trading.
If we think that by trading we will make a profit, of course this is a wrong understanding of trading, even for those who have a lot of experience, there are still those who experience losses in the trades they make, so it is very important to have the correct knowledge in trading so as not to experience loss and loss of assets that we own.

Every investor or every trader must make these decisions and plans before entering the market. Come to trade with crypto currency but you don't know about crypto currency then what to trade. We need to gain adequate understanding about trading and we must accept everything that may happen to us after trading. Trading cannot be done with wrong ideas in mind. Someone might have put it into your brain that trading means profit and if you trade with the idea that the more money you trade with, the more profit you will make, then you are sure to be in danger. That is why you will be in danger because trading will not only give you profit but also you have to accept loss. You can do good if you trade by accepting that you can make a profit and you can make a loss.

This. Before you start your trading journey, gaining knowledge is the first one that we should focus on. How can you succeed if your mind is empty and you're just simply guessing. Those who just watched an experienced traders earning a huge profit through trading and became interested for thinking they can earn the same amount too by just trying. But didn't take time to learn will likely experience losing their capital for not being aware of what a trader should do when they trade.

A mindset that can take you to a wrong decision. Because if this is your goal, then trading might not be the way that you're looking for to profit in snap. Because it takes time, moreover the profits are not guaranteed because it depends on the trader's knowledge, strategy and skills.

Even a level of leverage that may seem harmless requires a trader to be way more careful with the way they trade, since a 2x leverage not only means that your profits can double but this is true about your losses as well.

So a movement that at worst could give you some important losses when not using leverage, now becomes a movement that could threaten your account and your future as a trader, and the higher the leverage, the greater the risk this could happen to a trader and they could deal with it in the wrong way.

Demo accounts and trading with demo accounts only can help you to test your knowledge about technical, fundamental analysis but it won't be too helpful when you switch to trading with your official account and real money.

With real money, you will start to be greed or fearful and it will be start of many problems in trading.

Reducing risk in trading is a very good point. To reduce risk, don't use leverage, don't use futures. Just don't.

People can advice to use maximum x2 leverage, I don't call it is a bad advice because with x2 leverage, you reduce risk of forced liquidation. Just reduce that risk but does not guarantee you will never be liquidated.

So to reduce risk of liquidation, to avoid it, better just don't use leverage, even x2.

These steps are supposed to end with a simple answer: Do you want to trade or not, thus reducing the risks, but they will not benefit you much since you have made up your mind and want to trade, but they remind you of the risks of trading. The necessary advice, in my opinion, is to have experience in creating a demo account and experimenting with trading, and I am certain that the results in the medium term will give you a better understanding of what trading is, and then you will have more logical reasons to accept or reject trading based on personal experience and not based on the analyzes of others.

The right term in trading is that, STOP-LOSS.
This is very important in trading especially if you're new to this battlefield.  You should have all those battle gears in order to start trading.
A lot of people lose their money quickly because they don't have even a knowledge or lack of knowledge entering the market, they just rely on their luck, not their skills.

We've seen a bunch of advice from newbies about trading tips but I don't know if they apply this in real trading activities.

Honestly, it's not just trading that the newbies see as the rich quick scheme but the entire crypto market as well.

So having to tap with trading crypto, that's two things for them and a combination of it will be thought by them as an actual way to become rich so quickly.

But they are all getting it wrong and they need to understand that people who have became successful with crypto or trading have been through a lot.

Having the right amount of knowledge will give you an edge in trading. While trading can be of high risk that can let you experience sudden losses, but with knowledge and enhanced trading skills, you will minimize the risk and prevent your funds from instant losing. That’s why being knowledgeable is very crucial when one decides to trade, otherwise he will go trading not knowing what to do and end up trading like gambling.

Where there is no knowledge, a beginner should not jump into trading. Because in reality, one who has not gained something, has nothing to give in the process, and would likely end up like a loser and put all his funds into waste.

• No matter how good the project is, you should really learn on how to take profit, so that it wont really be giving out that huge regret. Been there, done that and i could
say that you should really be having those considerations on taking profits so that you wouldnt really be ending up on having regret.

•Dont get yourself easily affected with FOMO or FUD. Stick to your plans, set plan B's C's and further more as long you could be able to sustain yourself
then this is always be the best thing.

•Be realistic and dont be that over optimistic because this is where things starts to mess up if you do set those high bars.

I would say knowledge and skills are definitely what’s required before trading. That’s why before you go into live trading, try to experience a demo trading account first so you will gain ideas on how mostly live trading goes through. With little knowledge and little skills, you can still be in profits as long as you can manage your emotions when trading in the market.

Greed mostly becomes an obstacle in trading. A lot of newbies are jumping into trading due to their greed and hunger for profits, but we all know that they are not advised to trade unless they gain experiences in the market, hence a lot of them still end up losing and regretting because they have lost all their funds.

Above all other points, and from my experience, I see this point is most important for investors and traders in this market.

First of all, let note that this market is very volatile, even we're talking about Bitcoin. With altcoins, surely that they are much more volatile than Bitcoin.

From this first note, investors and traders must get rid of their thinking that this market is a free ATM for them to join, and withdraw money to get rich easily and super quickly.

The painful fact is they can get poor easily and super quickly if they can not control their greed and join scam projects, Ponzi, meme tokens.

They will see some crazy ROIs on social media but it is tip of iceberg only. Under the tip, many people lost money to scam projects.

I want to emphasise this because it is the most important thing in trading, and this will never be gone. Even if you are an experienced trader, you need constant knowledge as the market is unpredictable, and every time there is a change in the movement in the market,.

Sometimes this important thing is skipped by many beginners in trading. They sometimes decide to go into copy trading or signals by other traders. Yes, they can earn from it, but it will not take too long because, as long as they are dependent on other people's trading decisions, they can never earn from their own trading skills or analysis. It's like their trading is limited or their profit is limited, and it's hard because you can't get satisfied and you will regret the potential earning you could get if only you were knowledgeable in trading, so knowledge will be your foundation in this field.

About leverage, much better if you do not go for it because it is not for everybody.

It is nicer if you revert your attention and interest into leverage trading to being patient. I am speaking based on  my experience and being patient and holding worked better for me.

I have done leveraging but it is not the type that I can be productive of.

I've seen a bunch of these tips and tricks lists for trading before.  Sure, they seem helpful in theory, but let's be real - most folks don't actually follow them.  Tradings complicated stuff, with a lot of moving parts.  When money's on the line emotions kick in, and it's tough to stick to a neat little list. 

The stuff you wrote is solid advice, no doubt.  but that's just table stakes. and  To make it in trading, you gotta go deep - understand the market on a fundamental level build your own strategies that work for you, practice the self-control needed when the heat turns up.  Lists help get the ball rolling.  But the real work? Thats on you.  Ain't nothing easy about it.

For the first time, perhaps we will try and adhere to these steps, but if we feel a profit and then our emotional desires take over our control, then these steps will get better one by one, then get worse and result in losses.

It is necessary to exercise self-control and consistency in doing everything, this is also very important in the smooth running of the strategy stated by the OP. good luck

A newbie should avoid trading if he is not knowledgeable enough to start trading.if not he will run at loss because trading is more skillful than what we think. However, if he must trade then he should only use the amount of money that he can afford to lose to start trading so that he will have the experience of the market. The fact is that as a newbie, you will keep on losing to the market until you have improved in your trading skliis and that is when you will definitely have a strategy that you will use to trade in order to limit your losses. Emotions is also what should be controlled when trading because trading can mess with your emotions.

Knowledge of trading covers everything that the OP mentioned, because without  knowledge there is no how that a crypto trader can have accurate understanding of how to make profit and avoid loses in trading. Whether it's to avoid greed, being patience, learning the fundamental and technical analysis, they all comes down to aquiring accurate knowledge to be able to attain near perfection in trading. Despite the steps taking to make profit in trading, the trader can still encounter loses, but having accurate knowledge and understanding of the essential steps to follow will help to minimize the loses.

I agree with you, if you acquired crypto knowledge before going into trading will make your journey faster and smooth in profits making because, it will open your eyes to see the opportunity to buy BTC when the price is low in the market to take the advantage. Patient is another tool you can use to study the market price to know the right time to sell to make more money from the investment, if you can endure during the bear run to exercise patient.

Make sure you are active in the platform to be use to the current market price so that you can always be following when potential traders are making profits from the market because some of the information about market are right some time.

Most newbies fail in trading because they think it to be an easy, pizzy thing, they think it to be a get rich quick scheme, some think it to be gambling, and some think it only requires a common trick. So many newbies have misconceptions about trading, and that's why they end up blowing their accounts.

There are so many misleading trading video tutorials on YouTube and other social media, and some people get so attached to these videos, thinking that trading is just as easy as it is being described in those videos. If a new trader considers following these few steps that you have detailed, they will stay on the right track to becoming more successful in their trade and will also prevent them from burning their account without archiving a little profit. Like you have said, trading is about being patient and consistent as well.

Nice thread mate, one thing I will add is one needs to avoid greed, some newbie traders sometimes get too greedy that they so much trust their analysis and end up either putting too much funds on a trade or do not know when to apply a break even point or even take partials. Greed can also be associated to the reason why most people rush trading lessons or class and jump on trading themselves.

Knowledge is the most important key in order to make the most profit from the market. Without knowledge it’s impossible to make even 1 cent from the market. So it’s very obvious that you need to educate yourself more and more before actually placing a trade. Secondly the most important thing is managing the funds/bankroll. Trade the amount that you can afford to lose. I have seen many newbies dive into trading because with trading they can become rich overnight. But that doesn’t happen at all.

The coins or tokens a trader is using to trade is also very important. You may not use leverage with some coins or tokens, but they are too volatile and can result to money loss or liquidation. I prefer to use bitcoin to trade. I use altcoins at times, but the ones with high marketcap.

What to be paid attention to also is the leverage just has you said. Too much leverage is mainly the cause of liquidation. It makes traders to be afraid and leave market which might later favour them. It is even good to trade with less than 1x leverage.

In as much as trading can be very profitable if carried out properly, it also can be very risky, because you can lose all your fund if not done properly, so today I will be listing down step you have to make first before venturing into the market;

(1) Go for knowledge first: as a crypto enthusiastic or an investor it's very necessary that you knows all that it entails on how to navigate your way safely in the crypto industry.
Knowledge to me is paramount because with it,  you will know how to react in certain situations, which will really be helpful in your crypto journey.

(2) you must learn how to be patient: without patience it's nearly impossible to be successful in the crypto market, that is one of the virtue required in the craft.

(3) Do not see trading as a get rich quick scheme: mostly the set of people that falls into this particular trap is the newbie's, but after some series of losses, they will discover that it's not really what they thought it is.

(4) learn how to control your emotions: as simple as we mostly thought it is, it's one of the most difficult,  but it's very advicable that you trade with what you can afford to lose so that your emotions can be in check.

(5) plan your entry and exit point: most times this lack of planning cost us dearly, because failing to plan is like planning to fail.

(6) leaverage : before trading, know how to use your leaverage properly, almost all unprofitable traders is a victim of this, they uses too much high leaverage which can make you get liquidated easily.

(7) know how to manage your risk: in other to stay in the market for long, you have to know how to protect yourself ( your capital), protect it with all your might, pay more attention to this, because you might win five trades in a row and lose everything at once if you don't know how to manage your risk.

( wait for the right setup: trade only when you are sure of the market, if you don't see the right setup don't trade, it's better your capital is intact than risking it when not sure. Even though it warrant you to trade once in a week, it's better than losing.