Of course one improves with experience. Learning and researching before hand makes one prepared for trading, but to survive and last long enough to actually become a trader, you need to be flexible and engage in constant learning and research.
Newbies are most likely to lose out in their early days, so a solid foundation is very important.
Topic: There are some indispensable things that new traders need to know. (Read 346 times)
January 14, 2019, 11:14:11 AM
January 14, 2019, 11:05:21 AM
OP statement was only a reference guide when you are on actual in the trading field. Trading is not just like easy steps by reading and you will know all. Keep on research, having fundamental skills and good strategies, that is the mean source of success when you are in trading. Indeed, OP has given a very informative idea here especially newbies that no how on trading strategy and all stated on OP must be apply on individual traders.
January 14, 2019, 10:42:14 AM
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Number 1 was kinda different for me. I never changed exchanges since I started trading. Binance just simply suits my needs and I don't think I'll need more anything than that. It's either I trade or not, or call it a day when I day trade.
Sometimes #2 is quite situational. Pumps also happen to alts whenever BTC pumps due to different buys due to late pumps of those trying to catch up to the ride.
Number 3 is simply basic knowledge but complex application due to variation of investment strategies.
Number 5 is something that is not for the day-traders since they continuously sell then buy and vice versa gaining small profits.
Lastly, number 9 is the hardest to understand statement for a lot of traders since emotions always were involved in trading. The fear and despair that always await right in the corner of the TAs are the things that triggers these emotional trading.
January 14, 2019, 09:20:12 AM
Good strategy for all crypto traders that who needs a opinion to start in trading what we need is to learned some lessons so take notes those trades they should know.
January 10, 2019, 02:33:23 AM
The number two is a must do. Be focus on bitcoin because that is the major reason why we would be able to make an informed business decision. Trading in cryptocurrencies market come with many new information and if you are not focused you will lose out.
January 09, 2019, 11:16:16 AM
January 09, 2019, 04:34:37 AM
Good advice, I often read tips like this. many people give the same tips. in fact the market moves erratically and changes irregularly. this part that I fear, trade like a ghost every night. I haven't found good tips for controlling my emotions.
Chaos starts at the market when traders receive new information. Chaos - is a base of any of trade.
About emotions... Just forget about hope, luck, expectations. Only a matter of cold-blooded business.
November 22, 2018, 04:04:40 AM
November 20, 2018, 12:52:25 AM
November 20, 2018, 12:39:53 AM
Nice tips for beginner trader and maybe the biggest enemy of a trading is when you stand in front of the mirror that is the enemy. Yes, ourselves, when we have profit or loss we never think for a short break but continue trading until finally the asset loses. So when we feel tired or we have badmood better turn off your laptop and get a rest until you feel better then can start trading. So Control emotional is important too
Really nice tips, but it is just a pity that a lot of newbies are always too lazy to read but they are never lazy to want to start making quick bucks, and there is always a step to everything in life and those who tend to rush things pretty fast always end up getting burned.These are really indeed some indispensable things to learn and curtail as an habit when it comes to trading, but the most of it all, is never to trader at all without a strategy. By strategy, this includes, where you want to be buying and selling and not doing that blindly, and where you want to be placing your stop loss. If you miss anyone out, then you really have no good plan.
November 17, 2018, 01:17:02 PM
For me, for a new traders to succeed you most gathered experience from a fail trade. Trading is not all about selecting the best exchange platforms but how to analyze the trend and invest along its behavior. The only people that keep making profits are the professionals and skillful investors. I am in many trading group both on facebook and telegram and one thing that I have find out is that there are people that will tell you the next direction in any coins movements and I believe that those people were able to train themselves in that ways.
Ignore the daily noise and buy the crypto you like the best, I bought CanYa coin CAN hope you agree https://canya.io
That is another way that moneymakescents has learned and developed his mind on trading. Like he has said we should avoid the noise and invest on those coins that has future. 
November 17, 2018, 06:24:19 AM
Majority if the points can be summarized into, keep your emotions out of the market. And that is one of the pratfalls that traders make.
Also insufficient preparations and wrong guage of their readiness.
Never go live if you have not achieved success in demo trading.
Some get board of practice trading and are thirsty for the 'real deal'. But with sufficient practise you are bound to fail.
Actually, if we are to summarize all that has been said, it is still all based on learn, find a strategy, build on it, and then gain confidence in executing it. You will find out this is just the only way you can discard any form of emotions when it comes to trading the market.Also insufficient preparations and wrong guage of their readiness.
Never go live if you have not achieved success in demo trading.
Some get board of practice trading and are thirsty for the 'real deal'. But with sufficient practise you are bound to fail.
I know emotion is not some easy thing to discard, due to the fact that a lot of people tend to keep gaining experience from trading over time, but I believe at least with knowledge and good strategy, you will always learn from the experience you have and then realize eventually that it pays to just stick to your strategy as a trader. But all in all, always know what you are doing, and when you do not know, ask questions and learn.
November 15, 2018, 03:10:11 AM
Ignore the daily noise and buy the crypto you like the best, I bought CanYa coin CAN hope you agree https://canya.io
November 15, 2018, 03:08:17 AM
Please read all steps carefully and
Let me know if I made any mistakes
and very sorry. Cause I can't add any picture for good attraction
Let me know if I made any mistakes
and very sorry. Cause I can't add any picture for good attraction
Pictures are not really important. The written content is what counts the most, and you covered all the basics of trading especially for a newbies who is starting up.
If you are really interested in it though you can check out this thread Newbies can now pay a small fee to enable images.
Alternatively with quality posts you'd earn merist and with the required activity you'd become a Jr member and would be able to post images.
November 15, 2018, 01:18:04 AM
One of the most important ones is the number three which says never put all your investments in one place, that is the most important one but also very important when its crypto vs other stuff as well.
You don't have to put all your money into crypto neither, you can put some of your money in something else as well, putting all your money into crypto is not a smart move because crypto moves all together and when it goes down than all coins go down, check out stock markets and possible other stuff as well. I would say seven is another important one, when you are too greedy you tend to wait for x100 to come when you can get out at x2 easily , x2 is so much profit in any other business but when the bull comes in crypto people see x2 as something small.
You don't have to put all your money into crypto neither, you can put some of your money in something else as well, putting all your money into crypto is not a smart move because crypto moves all together and when it goes down than all coins go down, check out stock markets and possible other stuff as well. I would say seven is another important one, when you are too greedy you tend to wait for x100 to come when you can get out at x2 easily , x2 is so much profit in any other business but when the bull comes in crypto people see x2 as something small.
November 14, 2018, 01:28:14 AM
Majority if the points can be summarized into, keep your emotions out of the market. And that is one of the pratfalls that traders make.
Also insufficient preparations and wrong guage of their readiness.
Never go live if you have not achieved success in demo trading.
Some get board of practice trading and are thirsty for the 'real deal'. But with sufficient practise you are bound to fail.
Also insufficient preparations and wrong guage of their readiness.
Never go live if you have not achieved success in demo trading.
Some get board of practice trading and are thirsty for the 'real deal'. But with sufficient practise you are bound to fail.
November 13, 2018, 10:18:02 PM
November 13, 2018, 08:32:53 PM
Thanks for write this, all of these is also my mistake in trading. I was choice and used crypto exchange that did not provide stop loss, so I got to much loss. Greedy also bring me to loss so much money in crypto trading, but from this my all mistake I will make better strategy and will not do the same thing again.
November 13, 2018, 06:58:51 PM
Nice tips for beginner trader and maybe the biggest enemy of a trading is when you stand in front of the mirror that is the enemy. Yes, ourselves, when we have profit or loss we never think for a short break but continue trading until finally the asset loses. So when we feel tired or we have badmood better turn off your laptop and get a rest until you feel better then can start trading. So Control emotional is important too
November 13, 2018, 05:42:38 PM
Good advice, I often read tips like this. many people give the same tips. in fact the market moves erratically and changes irregularly. this part that I fear, trade like a ghost every night. I haven't found good tips for controlling my emotions.
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