Things to know before trading. - page 5.

kapalmabur

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Quote from: sarmrakib on August 26, 2021, 08:51:57 AM

Quote from: Hendra gunawan on August 23, 2021, 07:57:05 AM

Learn technical and fundamental analysis. Trade on coins that have good fundamentals. Then technical analysis to find out the right time to buy or sell coins. In addition, prepare patience when the coin price decreases, don't panic.

Its really a good effective suggestion you have given .We need to research the project regarding the coin and also analysis the technical things which always help us to get a good return .However we need to analysis the chart as well which helps more than trade on blindly .So i think that's the main thing what i mentioned is very need to know before trading on crypto.

By doing analysis and research before trading it really helps,
indeed before trading in cryptocurrency we must know many things because maybe it will support us,
What is clear is that doing analysis and research first is important but after all it comes back to each person's decision

Kelvinid

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Quote from: el kaka22 on August 26, 2021, 09:53:45 AM

It is not easy to become a trader, that is the number one thing that everyone should realize, we are talking about a very tough business and you would really need to end up being online almost every day at all times and get ready for it at all times as well, like even when you are sleeping, you should leave the situation in a way that you will not lose much until you wake up, and then when you wake up every day is a big stress because you are a trader and there are things you can't do, like price going down is not something you can prevent, but you can prevent losing too much money with those kinds of things.

So, I would say that knowing that traders job is a hard one and not an easy one and you may end up earning money but also end up losing a lot time to time, all that stress and anxiety is number one thing. If you are ready for that, then you can start, but believe me you may quit half way because of all the stress.

That was actually our personal choice, many did their best to become a good trader while some just did a short stay and leave trading after they realize that it was not an easy life to become a trader, facing on the computer everyday, spending most of the time on it just for the sake of money. That it feels no happiness but more on stress.

Knowing ourselves is the very first thing to do, we can't tell that we also succeed because someone did it, but possibly it will not happen to us. But mostly, we did some trials just to evaluate ourselves and this was commonly happening to newbies.

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It is not easy to become a trader, that is the number one thing that everyone should realize, we are talking about a very tough business and you would really need to end up being online almost every day at all times and get ready for it at all times as well, like even when you are sleeping, you should leave the situation in a way that you will not lose much until you wake up, and then when you wake up every day is a big stress because you are a trader and there are things you can't do, like price going down is not something you can prevent, but you can prevent losing too much money with those kinds of things.

So, I would say that knowing that traders job is a hard one and not an easy one and you may end up earning money but also end up losing a lot time to time, all that stress and anxiety is number one thing. If you are ready for that, then you can start, but believe me you may quit half way because of all the stress.

sarmrakib

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Quote from: Hendra gunawan on August 23, 2021, 07:57:05 AM

Learn technical and fundamental analysis. Trade on coins that have good fundamentals. Then technical analysis to find out the right time to buy or sell coins. In addition, prepare patience when the coin price decreases, don't panic.

Its really a good effective suggestion you have given .We need to research the project regarding the coin and also analysis the technical things which always help us to get a good return .However we need to analysis the chart as well which helps more than trade on blindly .So i think that's the main thing what i mentioned is very need to know before trading on crypto.

isaac_clarke22

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Quote from: Issa56 on August 20, 2021, 06:13:09 PM

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#1 might be something to be overlooked at, but take it from my experience that short-term trading didn't work for me. Back when I was day trading, I was kind of stressing out myself 8 hours staring at the charts and turns out I made bad decisions on what coin to buy.
I reverted back to long term and it worked for me. I just work in my full time job before starting to look a little bit in the charts.

Quote from: famososMuertos on August 21, 2021, 02:40:42 PM

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Dedication to one stuff that you aren't good at won't make any difference at all. Even if I dedicate myself to day trade, but it doesn't really work for me, I won't earn more.

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Quote from: Shenzou on August 25, 2021, 06:01:11 PM

I think that the problem with new traders is that try so hard to deviate from the simple ways and try to trade some low dead currencies where they should be putting their money and their time into well known and profitable ones, and this comes from the lack of information and lack of judgment and this because they are impatient and just want to get into the action where they should be taking more time into researching the right things.

It's taking advantage of the coins that are popular now, at first it is hard to just go on and left some coins we invested with for long but we mist accept the fact that their era is long gone and tgere new set of coins that can help us recover losses from those overdue if we will able to buy them before the hit start or ends. Those who discover new coins that have potential and is booming now like those in NFT is a good deal to start recovering from ICO old coins that don't have values anymore. Being able to adjust in trading helps alot.

New.in.trading

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very good points mentioned here. These go for everything in trading, far beyond btcusd or other cryptos. These go for forex and stocks and bonds and futures and everything. Basically for everything in life.

BruceLee98

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Consider Why You Are Investing in Cryptocurrency.
Get a Feel for the Industry.
Join an Online Community of Cryptocurrency Enthusiasts.
Read Cryptocurrency White Papers.
Timing Is Key.

Silberman

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Quote from: 24Kt on August 22, 2021, 06:31:59 PM

Quote from: Maslate on August 22, 2021, 05:59:06 PM

First, must know your capabilities if you are really prepared to take the risk.
2nd, must know your capital, the money from your pocket, not from others.
3rd, you already have a prospect exchange to use in trading and have to familiarize it already,
The last one, set up a plan and then go.

We all need these things as this will help and guide you in what you are doing. Many had failed because they never know what to do next. If you want to succeed in trading, never think that was so easy but rather to think that this is very challenging as this urges you to decide and act wiser.

Also, before you trade big, start small. Learn the ropes, tips and tricks before being confident to shell out large amount of funds. You can only learn those via experience and not from hearsay of others. The actual experience is different from what you are reading, even if there are existing self-help or guides, when you enter the trading, it will still be different. That's when you learn your own tricks on how to attack the market as it deviates from one coin to another.

This is yet another problem with newbies, they think they can start their careers here and obtain profits immediately when most of the time this is not the case, it takes months and sometimes more than a year before a person is able to adjust itself to the huge volatility of the market, so when they are faced with those conditions they do not have the experience to deal with them and then they lose money they would not have lost if the had decided to start slow and with a small amount of money until they learned the ropes.

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Quote from: Shenzou on August 25, 2021, 06:01:11 PM

I think that the problem with new traders is that try so hard to deviate from the simple ways and try to trade some low dead currencies where they should be putting their money and their time into well known and profitable ones, and this comes from the lack of information and lack of judgment and this because they are impatient and just want to get into the action where they should be taking more time into researching the right things.

They are trying to buy up things which is cheaper or simply they are trying to accumulate cheap coins basing up on their own budget which they do presume that once this coin had pumped then this would
really be giving out some riches on their part but the sad reality or truth is that they do basically been holding tons of shitcoins into their wallets.

Lots of things need to be considered first before you would make yourself sustainable on this market and some would really be gained through experience which would really takes
time and effort on your side.

Dont rush up and dont always think about profits. Mind off on how you gonna handle yourself well despite of harsh market conditions.

Shenzou

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I think that the problem with new traders is that try so hard to deviate from the simple ways and try to trade some low dead currencies where they should be putting their money and their time into well known and profitable ones, and this comes from the lack of information and lack of judgment and this because they are impatient and just want to get into the action where they should be taking more time into researching the right things.

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Quote from: Pasa32 on August 25, 2021, 10:14:46 AM

I want to highlight one of them which is the time, that trading needs more time, as it is like business, when you are employ at somewhere and giving time to your duty you will earn more, same in the case of trading, that when you gives more time to trading you will earn more, So, it would be better to learn all these things before start trading.

I agree about having more time in trading. It's not just you'll buy and sell when you're in profit, although there's similarity on it your goal as a trader is different from the usual investor that just sits and waits until their investments go into profit.
And while you're giving time as you trade, you're also learning at the same time while looking with those charts and giving your own analysis to it so, at the same time, there's a dual purpose of what you do.

Pasa32

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I want to highlight one of them which is the time, that trading needs more time, as it is like business, when you are employ at somewhere and giving time to your duty you will earn more, same in the case of trading, that when you gives more time to trading you will earn more, So, it would be better to learn all these things before start trading.

bamb

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In addition to what has been suggested, I will add not to trade against a trend! Watch out for trending sub-section of Cryptocurrency and position yourself, the market is usually favourable to Cryptocurrency trend and provide support towards it. Things change quickly in Cryptocurrency so, we should change according to trend and not waste precious time on trade that is not going anywhere!

LUCKMCFLY

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I think that one of the fundamental things before operating is:

1.-Define if you are going to be an Investor or a Market Speculator.
2.-Reflect on your degree of knowledge and understanding about the market, why the movements, whales, shorts, longs.
3.-Define and know very well each Exchange tool if what you are going to do is speculate in the market, if your strength is in short-term trading, or medium or long term.
4.- Have good technical knowledge to use the indicators correctly.

I believe that having these qualities can begin, since what will be risked is money, and I believe that nobody likes to lose their money.

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Quote from: Wicked17 on August 23, 2021, 12:04:39 PM

Quote from: Issa56 on August 20, 2021, 06:13:09 PM

Many people have been investing in cryptocurrency, and some have been complaining that they are losing money, particularly newcomers, so I believe this will really help you as a trader. The following will guide everyone to be a successful trader.

There are four keys to successful trading.

1. Find a strategy that works for you: If you are dedicated and forced to put in the effort, you will undoubtedly find a strategy that works for you. There are a variety of strategies available for you to try out.

2. Risk management: You must work on your risk/reward ratio, know how much you must invest in a coin, and only invest what you can afford to lose. If you are trading futures, always use a low laverage and don't forget to use a stop loss.

3. You must give yourself time: Because cryptocurrency requires patience and dedication, you should not rush to make money at the same time This is impossible since if you buy a coin now, it may take weeks or months for it to pump, so don't expect to make money quickly with cryptocurrencies. Give yourself time to investigate and plan. Because trading is a long-term endeavor, you must devote sufficient time to learning.

4. Dedication and commitment: If you truly want to be a good trader, you must be able to devote all of your time to it. Since you are making money from it I believe it really worth giving all your time.

I think ill go with # 1 and #4 We really have to find a good strategy for our self because we don't have the same mind and goals. Even though our goal is to make profit still we have to consider if that strategy would fit to us. Commitment is always a part of success. Putting a lot of effort to study and of course dedication will make you succeed in trading.

There is no best strategy in the world of trading, the best is one that each trader can understand. so we have to look for a strategy that fits our personal trading style. after that I think psychology will play an important role to make our trading more leverage in getting profit

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Quote from: Oilacris on August 24, 2021, 04:51:57 PM

Quote from: Yatsan on August 24, 2021, 01:31:37 PM

First things first before engaging into trading or whatever it is you are up to, be mindful to study the basics and the fundamentals for it will serve as the foundation you need and it will help you to survive on the long run. Before doing trading, it is best that you are already have prior knowledge about it and not that you are just learning it on the actual process of doing the trade because it is risky doing trials since money is involved. Learn to assess the situation so that you better know to handle your funds and do not let your emotions run into your decision making because it will make things worse.

Study with the basics and this is a must thing to be done because diving into something without any proper knowledge or awareness because this would surely make you have lots of losses instead.

You wouldnt know until you do experience it and also the rest of things needed for you to be a better trader is something that you do gain or get on real experience in trading and the rest
will really be depending on how you do absorb on what you do learn on the way.

To make yourself more better then you should open up yourself into such sudden changes and make learnings from your mistakes.

Having a strong trading foundation gives us a higher chance to succeed here. a lot of people have tried but sadly, only a few just left while the others are quitting. Well, that learning couldn't just stop but instead, it was a continuous process. The more experience we have, the more we gain knowledge. People who are afraid to take risks will certainly not learn anything but only just a doubt.

That is why, if we wanted to become successful in trading, we need to work it hard, learn the basics first and then improve it until we are totally knowledgeable enough to take risks more.

Oilacris

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Quote from: Yatsan on August 24, 2021, 01:31:37 PM

First things first before engaging into trading or whatever it is you are up to, be mindful to study the basics and the fundamentals for it will serve as the foundation you need and it will help you to survive on the long run. Before doing trading, it is best that you are already have prior knowledge about it and not that you are just learning it on the actual process of doing the trade because it is risky doing trials since money is involved. Learn to assess the situation so that you better know to handle your funds and do not let your emotions run into your decision making because it will make things worse.

Study with the basics and this is a must thing to be done because diving into something without any proper knowledge or awareness because this would surely make you have lots of losses instead.

You wouldnt know until you do experience it and also the rest of things needed for you to be a better trader is something that you do gain or get on real experience in trading and the rest
will really be depending on how you do absorb on what you do learn on the way.

To make yourself more better then you should open up yourself into such sudden changes and make learnings from your mistakes.

Yatsan

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First things first before engaging into trading or whatever it is you are up to, be mindful to study the basics and the fundamentals for it will serve as the foundation you need and it will help you to survive on the long run. Before doing trading, it is best that you are already have prior knowledge about it and not that you are just learning it on the actual process of doing the trade because it is risky doing trials since money is involved. Learn to assess the situation so that you better know to handle your funds and do not let your emotions run into your decision making because it will make things worse.

Fredomago

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Quote from: Wicked17 on August 23, 2021, 12:04:39 PM

Quote from: Issa56 on August 20, 2021, 06:13:09 PM

-Snip-

I think ill go with # 1 and #4 We really have to find a good strategy for our self because we don't have the same mind and goals. Even though our goal is to make profit still we have to consider if that strategy would fit to us. Commitment is always a part of success. Putting a lot of effort to study and of course dedication will make you succeed in trading.

Commitment in anyhow always gives you the benefits. If you focus and you really aim to succeed, using your commitment to do your research will allow you to understand better.

We all have the same view, but we have our own ways of understanding our advantages. Creating your own strategy comes after you learn how all the fundamentals will guide you and help you in succeeding from this venue of investment.

Keep analyzing before concluding it helps to lessen the chance of losing your money.

Topic: Things to know before trading. - page 5. (Read 912 times)