Things to know before trading. - page 7.

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Quote from: wahyu wida on August 22, 2021, 05:49:18 AM

...indeed psychologically, people who are psychologically established are people who are old enough. Indirectly, daily behavior does have an impact on our behavior when trading. Teenagers do have big ambitions and a high spirit of speculation, because they don't think long and even seem in a hurry. therefore for the first time they must be willing to learn and don't think here quickly find a lot of money

This obviously depends on the fact that adult traders are cautious about risks, since they risk not only their balance sheet, but also the well-being of their family. While young traders are not burdened with family obligations and often risk risk their deposit. And in case of failure, they can count on the financial assistance of their parents.

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Quote from: jostorres on August 22, 2021, 05:09:08 AM

Quote from: Hypnosis00 on August 21, 2021, 04:41:06 PM

It is somewhat to know that trading was not for impatient people, in fact, I was experiencing this kind of action as I badly think that it drops more but suddenly the pumps just come after selling, it is really regretting. This simply means that we can't make a good trade if our emotions drive us and this is the most common scenario that happened to the newbies.

However, if we are willing to change this kind of mindset and learn those wrong decisions, we certainly make it right. It sometimes happens ( or was common) to experience losses first just to know where we are wrong and that is what we need to find and correct.

That's why most experienced traders are some of the calmest people. A trader who panics quickly and gets excited with small losses/profits will never really go a long way. Such people are usually teenagers who have the energy to do everything but lack patience. Actually now that I think of it, this is also the reason who so many young guys get addicted to gambling. They want to get rich quickly.

Knowledge about trading and strategies can be learned but the attitude required to trade and the calm mindset is not something you will learn from anyone.

indeed psychologically, people who are psychologically established are people who are old enough. Indirectly, daily behavior does have an impact on our behavior when trading. Teenagers do have big ambitions and a high spirit of speculation, because they don't think long and even seem in a hurry. therefore for the first time they must be willing to learn and don't think here quickly find a lot of money

checkmatesir

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Trading needs constant attention and your more time than you think. It is a way for earning and if someone wants to earn more he should have to give more time. As it is like business, if you want to make more money, then you should invest more and you should give more time to the trading as compared to other things.

jostorres

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Quote from: Hypnosis00 on August 21, 2021, 04:41:06 PM

It is somewhat to know that trading was not for impatient people, in fact, I was experiencing this kind of action as I badly think that it drops more but suddenly the pumps just come after selling, it is really regretting. This simply means that we can't make a good trade if our emotions drive us and this is the most common scenario that happened to the newbies.

However, if we are willing to change this kind of mindset and learn those wrong decisions, we certainly make it right. It sometimes happens ( or was common) to experience losses first just to know where we are wrong and that is what we need to find and correct.

That's why most experienced traders are some of the calmest people. A trader who panics quickly and gets excited with small losses/profits will never really go a long way. Such people are usually teenagers who have the energy to do everything but lack patience. Actually now that I think of it, this is also the reason who so many young guys get addicted to gambling. They want to get rich quickly.

Knowledge about trading and strategies can be learned but the attitude required to trade and the calm mindset is not something you will learn from anyone.

Pasa32

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As i recently saw a post about trading that i needs full concentration and constant time. But i have to say and seen there are many traders even they are not giving much time to trading, but they are good at trading, and earn a lot and took a great profit from it. I think they have a good fortune that's why.

barbara44

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Quote from: Kayum10029 on August 21, 2021, 06:36:52 PM

There are a number of things you must pay close attention to before you start tradingIf you do not pay attention to all these issues, you may face losses in trading.Don't be overly greedy, have a preconceived notion of trading, be patient, keep up-to-date with information, and above all, keep your emotions in check.

Don't be greedy? I mean someone who enrolls multiple accounts in signature campaigns shouldn't be giving such advice to others. Sorry about getting personal but this is just another post made for the count.

Although talked about multiple times, I feel like there are still a few things I must mention that are essential for any trader, especially one who trades cryptos.

1- Knowledge obviously
2- Ability to read charts (technical analysis) & fundamental analysis
3- A good balance between greed and ambitions.

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

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.

Don't confused investment with trading, trading has more shorter timeframe than investing so it doesn't much have to do with patience instead it has more to do smartness. How smart are your strategy to outsmart the market that's what trading is all about.

The market is no respecter of anyone so you'll need to update your strategy constantly to be in line with the current sentiment of the market. I'm pretty sure the same strategy used for bullish market won't be the same for bearish market and as a traders you should be capable of making profit in all market condition and not just the favourable ones.

Trading has much to do with experience, to become a professional trader you must have spent a decent amount of time in the market and it return it helps you make quick and accurate decision novice coming into the market won't be able to make due to their lack of experience. That's where the dedication comes in as you'll have to be willing to dedicate a decent amount of your time to learning.

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Another of the mistakes I notice newbies make when it comes to trading is they get carried away with hype and FOMO. It would have been okay if it was interesting but they should also do their research such as knowing the true purpose of the project, they should avoid pump and dump schemes and not stay with just one source of information. We know that when there are rising coins/tokens the prices go up, but when we ride the flow they suddenly fall and they think everything is over and they are carried away by their emotions so they make the wrong decision and panic selling immediately so they end up with losses.

Kayum10029

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There are a number of things you must pay close attention to before you start tradingIf you do not pay attention to all these issues, you may face losses in trading.Don't be overly greedy, have a preconceived notion of trading, be patient, keep up-to-date with information, and above all, keep your emotions in check.

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Trading is good for people with a lot of patience and commitment because it needs a lot of time to focus on selling and buying on the market especially if you are doing daily trade. Also trading is risky, so you should accept the fact that you can't avoid losses, avoid being greedy because it can help you earn more.

Slow death

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trading is not easy, the person needs to spend hours on the computer and at the end of the day the results can be unpleasant and the person cannot give up the next day because it is the only way to make the money multiply and the person make a profit, and even when a person trades for the long term, there are ups and downs that make the person want to give up, but when the person thinks he has to continue because this money is at stake, the person looks for willpower. trading can sometimes be a big headache

Quote from: Hypnosis00 on August 21, 2021, 04:41:06 PM

However, if we are willing to change this kind of mindset and learn those wrong decisions, we certainly make it right. It sometimes happens ( or was common) to experience losses first just to know where we are wrong and that is what we need to find and correct.

I agree, but it is not easy to accept losses and continue anyway until correcting where we went wrong, sometimes it can take time to get it right and in this period of time between mistakes, the person is very sad because he is seeing the failure every day

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Quote from: Johnyz on August 21, 2021, 02:57:31 PM

Quote from: layoutph on August 21, 2021, 11:03:38 AM

Learn first how to read chart. I remember I bought 3 ETH for 30usd.. I sold it all when ETH reached 20usd.
One of my biggest mistake as a newbie

This is the biggest mistakes of every newbie, they are too greedy and they always forget to analyze before invest simply because they are too dependent and they trust trading signal that much. There’s a lot of things to learn first about trading, it can’t happen within a day so always have your patience and trade with your analysis.

It is somewhat to know that trading was not for impatient people, in fact, I was experiencing this kind of action as I badly think that it drops more but suddenly the pumps just come after selling, it is really regretting. This simply means that we can't make a good trade if our emotions drive us and this is the most common scenario that happened to the newbies.

However, if we are willing to change this kind of mindset and learn those wrong decisions, we certainly make it right. It sometimes happens ( or was common) to experience losses first just to know where we are wrong and that is what we need to find and correct.

zahed

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Thanks for share some guidelines specially newbies can learn in these your four strategies. Trading seems not gamble so those who consider with gamble, point two and three is important key for new commer traders. Newbies mistakes in strategies so there always loss.

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

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.

I don't think there is any place to find which strategy works for you and which doesn't. You need to trade continuously and with time you realize what's working.

I have seen so many threads in this section that are focused on finding a working strategy. People need to understand that no single strategy can work for everyone because everyone is unique in the way they trade, take risks and handle losses. Traders with high risk-taking ability will rather fancy their chances in the altcoins market.

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Quote from: layoutph on August 21, 2021, 11:03:38 AM

Learn first how to read chart. I remember I bought 3 ETH for 30usd.. I sold it all when ETH reached 20usd.
One of my biggest mistake as a newbie

This is the biggest mistakes of every newbie, they are too greedy and they always forget to analyze before invest simply because they are too dependent and they trust trading signal that much. There’s a lot of things to learn first about trading, it can’t happen within a day so always have your patience and trade with your analysis.

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Point 3 is the one that makes you different, it is the one that makes you earn money and it is the one that tells you; Yes, I am going to dedicate myself to this.

Digital investments give profit every 1 second for a person with a high degree of intelligence and ability to calculate, but if you use the right tools you can start making money with 0.001 seconds.

It is a fallacy that has spread in the discourse, that the pump is necessary to make money. As well as believing that by giving 3, 4 tips you are already solving the equation to be a winner.

teosanru

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Actually, the very basic reason why newbies are losing money in cryptocurrencies is that they think of this as a get-rich-quick scheme. They think just like anything they will a secret token whose value would go 20x tomorrow and put all their money into just that one token and then these people complain about losing money. It's obvious that if you would make such foolish choices you will end up losing money. Also, some unprofessional try trading thinking that trading is just buying and selling, these people saw a couple of videos of some so-called trading gurus and now think that all they have to do is buy low and sell high and that's it. They absolutely forget that the basic essence behind trading is to find how to buy low and sell high. If you make a proper investment in cryptocurrencies, dollar-cost averaging your investment, there is no way you can lose money in it.

Ararbermas

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Correct, dedication and commitment is the most important if you truly want to become successful in trading, especially if you have a lot of patience it's a big advantage to be honest , wherein the only thing you need to do is to educate your self how trading really works and on that way afterwards for sure you can build strategies as well for your journey and no need to worry because you know how to handle the situation.

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And last believe in yourself not to panic trade Wink

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

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.

At every trading time, our stop loss is encouraged for us to use and if you don't apply it, you can not stay in the market for long before you make your huge mistake. We need not to trade with stoploss because that is the real money management that I know. Looking only at leverage and exposing the stoploss is not money management.

Topic: Things to know before trading. - page 7. (Read 912 times)