Topic: Tips for newbies to trading - page 3. (Read 586 times)
I'm no expert trader here but know that everyone should educate about crypto before placing the first trades. There are many sites which offer education and i'm also here to ask for recommendations. Where did you start your first trading lessons? Thank you
I totally agree with all the points mentioned in the opening post, following all these points will avoid newbies from loss. Because a lot of
newbies who trade only follow the signals of others, without following the basic rules. No wonder newbies when trading will experience
a loss. Even until they run out of capital. Hopefully by running that point can get the profit already targeted. Indeed, to succeed in the
world of trading must go through a long process. Newbies can not succeed in trading instantly. My advice for newbies do not be easily
discouraged, and never stop to learn all the techniques not yet mastered.
newbies who trade only follow the signals of others, without following the basic rules. No wonder newbies when trading will experience
a loss. Even until they run out of capital. Hopefully by running that point can get the profit already targeted. Indeed, to succeed in the
world of trading must go through a long process. Newbies can not succeed in trading instantly. My advice for newbies do not be easily
discouraged, and never stop to learn all the techniques not yet mastered.
The points you give here are very clear and I think this can be understood by the novice traders here.
Winning requires skills to be a reliable trader and must be careful, patient, don't panic, that's the main key in my opinion.
I am sure every novice trader will feel the complexity in the first trader.
Winning requires skills to be a reliable trader and must be careful, patient, don't panic, that's the main key in my opinion.
I am sure every novice trader will feel the complexity in the first trader.
It is very important not to panic as to avoid unnecessary mistakes in trading because in trading one mistake can either make or break a trader that is why it is very important that you are very careful when you trade. You also have to analyze all the possibilities to make sure you’ll come up with the best strategy there is.
In addition to the method of investing and which methods for beginners to choose, it would be much more important to study the realities of accepting cryptocurrencies in your country. It would seem that cryptocurrencies remove all sorts of restrictions on the location of the investor, but this is not so, because many exchanges or crypto services simply do not serve a number of countries. It is also much more important to choose a reliable wallet than an exchange. Because you should never leave money on the exchange. The idea of investing a certain amount in coins every month or week is a great strategy, but there are really many factors to consider so as not to lose everything
Perhaps you are right, although I’m sure that sales is not the only effective investment strategy. To be sure of their actions it is convenient to study how experienced investors act and share their experience on the taklimakan platform. Someone calls this social trading, but a simple explanation, if a person is better than me in trading, why not use his guidance. Because crypto deposits are convenient if you take a break from trading, but you can still get a lot more from active investment, or at least from a master node.
one more thing, stay away from any crypto news site because it won't affect what you learn about charts, so be focused and always be patient, at least understand how to master yourself in trading, hopefully it will be useful for novice traders
Mostly I agree with you but I'll complete your post with little advice. Never use your salary or loan money as basic fund, not good. Second thing never use bots/ signal ( free/ premium ) as guide to open position ( OP ), trust yourself. Last one, after OP just leave the market because any price moving can give negative psychology into trader. Just like that and good luck to you.
This is normal for newcomers to make mistakes because their demand is high But on the other hand, they do not act accordingly without knowing why they trade most of the time, If the newcomers can accept certain things, they will be able to do much better.
The points you give here are very clear and I think this can be understood by the novice traders here.
Winning requires skills to be a reliable trader and must be careful, patient, don't panic, that's the main key in my opinion.
I am sure every novice trader will feel the complexity in the first trader.
Winning requires skills to be a reliable trader and must be careful, patient, don't panic, that's the main key in my opinion.
I am sure every novice trader will feel the complexity in the first trader.
It is very important not to panic as to avoid unnecessary mistakes in trading because in trading one mistake can either make or break a trader that is why it is very important that you are very careful when you trade. You also have to analyze all the possibilities to make sure you’ll come up with the best strategy there is.
Absolutely right. Newbie should be very careful while trading. Newbies firstly they should start small trading and do not be in hurry, because you will loose. Do research before you start trading through Google, YouTube videos so that you get more information. Should have patience even. Be smart while you do exchanges better start with small capital.
- Start small: There is no hurry in trading and as a newbie, you should start small and grow with time. Losses are ineluctable, so a small capital will reduce your losses.
At every point, only invest what you can afford to loss
I like this one. You don't have to start trading with a big funds. You could start with a very small fund at first so you will get the grasp of how to trade.At every point, only invest what you can afford to loss
Don't be afraid of losses. Embrace it, it's a good experience as to know why you got such losses. And the last but not least, learn how to control your emotions. You may think that as long you've done your research and all, everything's under control. But your emotions played quite a big part in the game. As to not be too greedy, fomo, know when to sell and buy, know when's your limit and etc etc.
If we miss one of these tips, we'll surely make wrong decisions in the future. It's always advised that we'll do our own research and apply our learnings little by little to practice actual trading without big losses. It's important that we'll learn everything about it because knowledge is the best weapon and strategy that we could apply to have a good gain in trading.
I don't think you will miss one of those if you are practicing it almost everyday. By doing practice your body and mind will automatically follow on what did you usually do and it's almost like an instinct. So practice everyday and follow those tips while exploring different strategies will help you to become successful in the future.
If we miss one of these tips, we'll surely make wrong decisions in the future. It's always advised that we'll do our own research and apply our learnings little by little to practice actual trading without big losses. It's important that we'll learn everything about it because knowledge is the best weapon and strategy that we could apply to have a good gain in trading.
Trading can be very complicated especially for newbies. Lots of people are still split on whether it's down to luck or skills on the analysis (technical and fundamental). As a trader, there are bery simple steps you can take to improve your chances of gaining and also minimize your losses and they can be useful for day traders as well as long term traders (investors)
1) Read and research: This is important for both newbies and experienced traders. The internet is a repository for information and lots of knowledge can be gotten from reading through it (this also includes watching helpful videos). Also do your research, knowing what is happening on what exchange or what currency is planning a fork or a halving can help shape your decisions.
- Practice: Through regular practice, you will find the strategy that suits you, this can be done through demo trading.
One important point to note is that during g practice you have to treat it like it's the real thing. Use only the lot size, capital, leverage, etc that you will use during an actual trade.
- Start small: There is no hurry in trading and as a newbie, you should start small and grow with time. Losses are ineluctable, so a small capital will reduce your losses.
At every point, only invest what you can afford to loss
- Be patient: Every trader should have the quality of patience and also timing.
It is important to know how to control your emotions and only act on your analysis. This would also help you handle losses and profits.
- Explore every option: There are lots of tools at your disposal, signals, technical and fundamental analysis, etc, not every one of them would be helpful to you, discard those which are not and stick to your strenghts. Bitcointalk can also be a useful tool, it's an interactive forum where you can ask questions.
These five statements are really useful for all the new investors and you forgot some statement. Because all the new investors are follow these statements so we must explain the further activity on crypto trading. My suggestion is decide the clear journey in crypto trading because before to invest we must clearly secure our investment so long term investment good for beginners or else we must active in all the time. 1) Read and research: This is important for both newbies and experienced traders. The internet is a repository for information and lots of knowledge can be gotten from reading through it (this also includes watching helpful videos). Also do your research, knowing what is happening on what exchange or what currency is planning a fork or a halving can help shape your decisions.
- Practice: Through regular practice, you will find the strategy that suits you, this can be done through demo trading.
One important point to note is that during g practice you have to treat it like it's the real thing. Use only the lot size, capital, leverage, etc that you will use during an actual trade.
- Start small: There is no hurry in trading and as a newbie, you should start small and grow with time. Losses are ineluctable, so a small capital will reduce your losses.
At every point, only invest what you can afford to loss
- Be patient: Every trader should have the quality of patience and also timing.
It is important to know how to control your emotions and only act on your analysis. This would also help you handle losses and profits.
- Explore every option: There are lots of tools at your disposal, signals, technical and fundamental analysis, etc, not every one of them would be helpful to you, discard those which are not and stick to your strenghts. Bitcointalk can also be a useful tool, it's an interactive forum where you can ask questions.
Another important thing : Self-control
Have you ever experienced panic when you just made mistake? and then, you did something without thinking and made everything worse. It is very common issue, someone learned trading technique very well but he can't control his emotions, then he follows his feelings too much and makes more mistakes. At the end, everything he has learned turns to a waste.
There are times we will experience losing self control without us noticing it. We should be disciplined enough to remind ourselves that we need to focus and don't be hook to much on the situation. I need self - control too especially when I travel that I missed some places due to gambling too much. Have you ever experienced panic when you just made mistake? and then, you did something without thinking and made everything worse. It is very common issue, someone learned trading technique very well but he can't control his emotions, then he follows his feelings too much and makes more mistakes. At the end, everything he has learned turns to a waste.
In trading, there is a lot of techniques you can do, and there are a lot of tips that came from the internet or other people. The tricks they do when in trading make sure you must have enough knowledge, basically reading graphs is the most common learning in trading this tells you when you need to buy or to sell your coins. Next is trust your self on trading because too much afraid does not give you any profit. Many people are doing play safely in trading than risking because they don't want to lose any money. But the risk-takers have the most profitable income.
Another important thing : Self-control
Have you ever experienced panic when you just made mistake? and then, you did something without thinking and made everything worse. It is very common issue, someone learned trading technique very well but he can't control his emotions, then he follows his feelings too much and makes more mistakes. At the end, everything he has learned turns to a waste.
There are times we will experience losing self control without us noticing it. We should be disciplined enough to remind ourselves that we need to focus and don't be hook to much on the situation. I need self - control too especially when I travel that I missed some places due to gambling too much. Have you ever experienced panic when you just made mistake? and then, you did something without thinking and made everything worse. It is very common issue, someone learned trading technique very well but he can't control his emotions, then he follows his feelings too much and makes more mistakes. At the end, everything he has learned turns to a waste.
I agree on all your thought but I think you need to add one more thing which is avoid too much greed because I think it is the most important thing that we need to remember before doing and dealing in trading industry. You also need not some but huge or lot research and study before doing trading because it is very complicated activity.
how are you sure that we don't need research to learn to trade?
even those who are experts with their analysis and research still have 100% lost their money. I think a newbie really needs to learn even though it's just basic how to trade
Another important thing : Self-control
Have you ever experienced panic when you just made mistake? and then, you did something without thinking and made everything worse. It is very common issue, someone learned trading technique very well but he can't control his emotions, then he follows his feelings too much and makes more mistakes. At the end, everything he has learned turns to a waste.
Have you ever experienced panic when you just made mistake? and then, you did something without thinking and made everything worse. It is very common issue, someone learned trading technique very well but he can't control his emotions, then he follows his feelings too much and makes more mistakes. At the end, everything he has learned turns to a waste.
- Start small: There is no hurry in trading and as a newbie, you should start small and grow with time. Losses are ineluctable, so a small capital will reduce your losses.
At every point, only invest what you can afford to loss
Yes, this is suitable for beginners with small capital because the risk is minimal if the funds are small, where beginners can learn how to trade without the fear of losing your capital if you use small funds.
Starting with a small amount is good for new people because they analyze and watching the price moves. They can use that amount to learn the movements of the coin so, in the next trade, they can know, and they can analyze better. That will prevent them from losing in a big amount of money in one trade so they can repeat the other trade in the next time. Only afford the money you can lose will be the best tips for new people, so they don't have to worry about losing that money.
I agree on all your thought but I think you need to add one more thing which is avoid too much greed because I think it is the most important thing that we need to remember before doing and dealing in trading industry. You also need not some but huge or lot research and study before doing trading because it is very complicated activity.
how are you sure that we don't need research to learn to trade?
even those who are experts with their analysis and research still have 100% lost their money. I think a newbie really needs to learn even though it's just basic how to trade
I agree on all your thought but I think you need to add one more thing which is avoid too much greed because I think it is the most important thing that we need to remember before doing and dealing in trading industry. You also need not some but huge or lot research and study before doing trading because it is very complicated activity.
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