Topic: Tips for newbies to trading (Read 578 times)

You are right if we are new so we should try our best to gain trading skills and trade for long term. As day trading for new one is not good but for experiences people day trading can be good. I like to learn trading before I get in as it’s all about to maintain our risk and risk takers makes more money than those who get worries with market changes.

Probably the best tip is test it by using paper trading first! Test it, test it, test it. At least for a week or so.

After paper trading shows satisfactory results on a longer time frame, then consider using real crypto. Start small and move from there.

Control your greed!

I guess that is more then 1 tip!

The points you have mentioned are quite good and will help newbies to trade wisely in the market taking help from you tools but i would like to add some points of my own which i think are key factors in trading
1)Gain knowledge and expereience in this volatile market and try to learn from your past mistakes which will help you to earn good profits

2)As said by some on this forum "always invest the amount you are willing to use" that will help you to have strenght in worse time

3)Keep control over your nerves and don't easily get panic in dump situations if you want to have profit or higher returns

4)Try to buy at cheap prices rather than investing at peak levels which means choose investment point of your own

5)Dont get too much greedy and be satisfied with your profits

So these were some of my suggestions but i am no expert to give proper trading tips so try to be your own mastermind.

It all depends on the perspective bro. Even if you start investing now it won't be considered as a bad idea because then you are just using another method to learn and that is learning from mistakes. I consider it as a good way of learning because you gain a hell lot of experience method through this method.

I disagree that because when we try to reach someone to guide then they will try to make benefits for them, don't trust anyone to make you as rich.You have to work for your profits but if you have someone close who will never backstab you at any situation then you can get tips and guidance from them.

Newbies should not yet invest in cryprocurrency market if they are still new, it is good if they will invest in learnings first. They do not yet know how the market works and they will lose their money easily if the invested without prior knowledge about it. They should have knowledge first about trading for them to protect their capital and make profit.

''Start small: There is no hurry in trading and as a newbie, you should start small and grow with time.''
Totally agree, don't just blindly invest and wait. Start with simulators since they are risk-free and easy to use..

Learning and experience are the best things we need to acquire for us to know what trading exactly is all about. Yes, watching youtube tutorials and some trading tools could help but it wasn't good enough to teach everything rather than to have our own trading experience. Better to empty our minds about trading and welcome new knowledge and learnings cause the result will be amazing. We can't be an expert for one day, even learn to trade in a day, it will always take time.

much needed tips for newbies if any newbies is reading this and apply in trading it will be much helpful, starting trading without knowledge is equal to gambling , learn practice and have patience  , I am saying this from my experience I did all this mistakes, disciplined trading is professional trading

Everything mentioned above (tips for newbies to trading) can build up a strong foundation for a trader, if and only if he/she implements the above mentioned tips correctly. Another thing i will like to add - as an advise, is that newbies should have a good mentor (who has experience in trading) that can guide him/her.

Starting is very important. There are some people who start trading cryptocurrency and they don't start small, despite that they have no single idea on how everything works. They just jump on it because they heard from a friend that made millions of dollars by trading cryptocurrencies, and they didn't care to ask how it works and whether there are risks involved, they just get in and start investing big money and later they start complaining that they have been scammed lol.

Anyone that wants to trade crypto should start small, since you have no experience, it's best to start small so that you won't lose everything. With that small amount you will be trading and seeing if it's really something you should go into fully, and if yes, you can then start to invest more money on top of what you have already.

That’s much better for new traders to gain experience with their own way but for gaining experience we should first learn it well from other people. Asking other people to tell us the stories of succeed trading and mistakes that a trader should avoid while trading. New traders should control their greed and never try to get fast profit.

But I cannot say that if the remaining thing are kept in good then applying should be kept in best because of the trader will focus on the starting and will not give importance to these other things then he will lose their money and will be disappointed. It is better that we consider the research learning etc at the best and after that we have to suggest for the applying and getting experience. As if he will go through bad experience he will leave this field very sooner.

Thank you for the tips! I'm thinking of starting to trade, but I'm slightly afraid something can go wrong. I guess it's about staying cautious all the time!

It really depends on us and the points/tips given is just a guide for likely a successful trading.

There are traders that tends to get comfortable with trading when they win on their debut, that makes them more aggressive playing in the market thinking they could just easily win and profit. When did become trading a trend? after 2017? 2018? We can say with 1 to 2 years of traders from that time til now, they were not totally used to see the prices low as market has already grown and that causes them to panic.

I agree with this. But feel the trade like it is your real money so that you will have the little tension while using the demo.
There is no sense if you know yourself that it is fake money.


Doing it hands on with a little experience could be really scary but with a little courage it could be fruitful.
Do not be afraid to lose something and that is why you are starting small. You want to gain some experience out of it first.

To newbies, I would be more careful with what you watch on youtube. The so called "pro-analyst" might not really be and you are being pulled to a trap.

To all of these I will add backtesting your system, many begin to trade without really knowing if their system is effective at all, they only test their system for a few trades and if the test is positive then they think they have a winning system, but things are not that simple, if you really want to know if your system is effective you need to test it against many markets in all kind of different conditions and only if you come up as a profitable trader in all of them then you can use that system.

The points mentioned by the OP are options that must be understood by traders who have just entered the world of crypto, especially for analyzing charts every day and fundamental analysis will be very helpful to determine the success of a trader. Being a trader at crypto does require patience if you want to succeed and get consistent profits. So trading requires skills and learning.

Trading is not for everyone thats why I agree that it requires hard work and most specially, patience.

I have a lot of experience where the answer to my losses is just because I sold too early or I panic. Trading crypto is different from trading stocks. In stocks, news are very important, unlike trading crypto, its not the news that matters.

I know what you would like to emphasize and newbie must do before to start in trading. These will be simple hints and exactly basic tips to avoid possible big losses. Yes, it can be of simple and quite to say but really hard to make it.

Anyway, that will also depend on how we manage ourselves. Many traders suffer big losses not because they start big or whatever it say on the OP, but it is because they really don't understand what they doing. Trading is risky and of course, it needs hard work to make it find and successful.

Research is good and helpful but it's not enough people. For newbies, they should learn and analyze basic things, we all know that. But the most important thing to practice is to apply the fundamentals in order for you to become used to it. After you apply those things over and over again. That's when you get EXPERIENCE, it is the most efficient skill you should have in trading.

Research is good, analyzing is good, learning is good, but APPLYING is the best.

I think every newbie should research this cryptocurrency very carefully because, without proper knowledge, no one can cut a good figure in this system, so they have to go through regular news and should make good research for the own purpose, obviously, they have to start with a small figure, beginning with a big amount could bring a heavy disaster to him or her at the current context, and don't depend on the emotional decision, be cool and patience, don't take any decision without proper thinking, take your time and learn how to control your emotion, if you can can then it would be a good platform for making profit by trading.

For those newbies, you should not join in trading signal groups because they are giving wrong information and all of them are scams. Most newbies are following their prediction and they experiencing losses. In trading, you should only trust yourself and do not follow the other's opinions. I know that newbies will not easily earn money in trading but you will learn through experiences.

Things are really hard when you are already in a losing point. But if you follow these tips, i know this will really minimize your losses somehow. Trading is a very profitable way to make profits but you should also learn to overcome all the risks its takes. Although losses is inevitable, but as long as you only invest on the amount you can afford to lose, then it would still be fine.

its true, but if we can put a cut loss on every trade it means we are disciplined enough not to lose a lot of money, besides that don't be greedy to determine profits. for example a minimum of 10% increase directly sell it. because the current market situation won't fly too high, 10% is a good result.

Its the Practice that they may not really do here since the only way to practice is to Start small and starting small still will cost money. I myself have been losing money and are still practicing almost every time there is a spike and price dive. Self control and being patient is hard to do when you are already losing money. So training yourself to be patient is hard when you already lose money. Best Tip I got is to only trade when the price take sharp edges on BTC/USDT pair.

Other than that we should learn how to control our emotion, we should learn how we are going to manage our time, and fund wisely, how much we are willing to start as a capital on trading, for how many hours we are willing to sacrifice everyday and are we mentally and financially ready if ever the market is not good and we may lose sometimes.

I think, understanding the overall sentiment of the market is a big issue before investing or trade!

cut loss is very important in trading, if we don't put this in trading we will lose a lot of money. I've experienced this. at least if there is a decrease ,set cut loss if fall it reaches -7-10%

These points are mandatory for novice traders, but there may be one thing that beginners cannot do consistently. it is patient. a lot of beginner traders who can not be patient with the situation and also they are in a hurry to get a big profit. so it is not effective for a trade that they run

Everything is easy to say, but hard when you want to implement it. So, be patient and learn from your mistakes, that's the first tip. Another one (important!) is to never invest more than you can afford to lose. Buy one of the hardware wallets, for example Trezor where you can store your funds safely. Use only reliable websites to buy bitcoin, I recommend you rather to use cryptocurrency exchanges (like for example Kraken, Coindeal or Coinbase). There are a lot of scams so be cautious.

how can someone gain experience without doing that thing? to gain some experience one must do that. he might fail once or twice. but at the end of the day he'll learn it and can do it properly.

I don't see any Good Crypto currency exchange, offering any demo accounts. I saw this demo account thing in forex trading platforms. but not in crypto exchanges. not in Binance, Kucoin, Bittrex at least, I must say.

anyway. your point is good. if someone can find a way to earn some coins for free. then he could be saved from investing his own money.

I guess this is the very important among the tips. Starting in small scale will really teach you how to do trading, although trading with huge amount is not similar with small ones. And having small amount to trading does not limit yourself, you'll start to learn taking the risk. Then eventually, try to add more capital after a while then continue the process until you fully have learned the techniques suitable for you.

My simple tip to newbies regarding trading is, do not enter into trading as a newbie. Gain experience and knowledge then trade with your actual capital. (I still appreciate OP's suggestions for any newcomer of trading field)

I agree everyone must be a newbie in a new environment but trading provides lots of opportunity to gain knowledge on it for free of cost. We can practice in demo accounts to learn all the fundamental and technical things to start with. It means there should be no compulsion to start trading as newbie; we can gain all the required minimum things before entering. This way a newbie may not remain as naive trader to being with trading.

Thank you for those tips but this question clogging up in my mind, they know those tips but they dont execute very well. I read a lot of tips here but it seems it was already on reading and not doing on it. Those newbies who want to try they should practice in any small amount so that they will learn of their mistakes. Basically, for me, trading is just a trial and error but it won't never perfect. Indeed, these tips are useful to us.

It's true that some of them are just being greedy and doing it for money but we can't also judge their abilities because there are some videos in YT that helps the some of us especially on handling our trade, we can't just focus on watching in YT it's better if we have our research and if you already feel that they are just about to advertise something then try to look for more because there will be different option. I agree with you on the telegram, I've learned a lot of things in there and I'm glad that my friend told me where I can find legit news and information. If you wanted to earn a huge profit in trading then be patient and apply your knowledge because it's one of the characteristics that you need to apply on yourself to be successful because there are opportunities sometimes lies at the end of the path that you are walking through. 

Youtuber not have good ideas and method how to start trading for newbie, they only take chance to get many viewers with their youtube channela nd try to get income with ads promoting, maybe telegram channel become most interested way to learn and know tips for trading as newbie and beginner, when you active for joining with crypto will find with many telegram channel giving information about how to trade in bitcoin or altcoin.

I disagree with that part. Youtubers tend to promote their own shitcoins and shill them while attempting to sabotage the names of other coins. While this may not affect a veteran trader, newbies are easy to fall prey of it. They would believe every bullshit being told and make the mistake of buying some shitcoin when the channel owner is actually dumping their bag full of it.

Thats how these channels run. If you are immune to them then its well and good but would not advice it for a newbie. On the other hand stock market trading for a newbie in crypto trading would be good to learn about trading and then apply that to crypto markets.

I didn't went thru practice but thanks to trading commodities I got the idea of what is happening in crypto.
Although there is a huge difference the fluctuating candlestick is still the same. Graphs and charts are almost alike too.

I did actual on my first trade. Spent just a little to just experience it. I did lose it though but it was a good experience and I already learned a lot for just a little amount of time.

A smart person would do this.
He could also end it here. If you did your homework then everything is possible.
Trading is a high risk work and if you don't listen to what others have already experience then you will lose a lot more.
Sit with someone who is really doing it and not those who just analyze the market.
It is different when you are doing it live. The panic is there and so does the greed.

It will be better if those are offered for free. How? Read in this forum and maximize its benefits.

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.

beautiful sentiment, traders these days tend to make bad decision when they panic and the sad part is that they can't even control themselves. You should always make some time to prepare yourself for unexpected things particularly when it comes to trading since it's indeed speculative, if you don't want to end up feeling remorse abut your actions and decisions then don't panic because it will can never lead into positive outcomes. You should always remember that you should just make decision when you are in a proper mindset because you have to consider a lot of things or else your funds will be wasted for nothing. If you wanted to be successful in trading then apply your knowledge because it's the only guide who can help you to achieve your objectives.

I agree Proof of Stake will be a more convenient position than just providing digital currencies as a loan for other users that will pay you a percentage. Although this is an amateur matter. I know what is convenient for me, and this is blogging. But not so when you yourself independently publish posts for an article or medium platform. But the real job is as a media blogger. Just if people were looking for information, they saw that with technical knowledge of the blockchain, you can earn from $ 15 per hour, than just spend time on a typing system and donations

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.

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.

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.
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.

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.

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.

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.

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.

thats totally wrong if didn't need research and observation to find best opportunity in market. So if we dont do this , based on what our decision? If we feel research was complicated acitivity , i am sure there is something wrong with our way. We must have some checklist in analizing coins to trade, so it will look simple and easy to.

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.

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.

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.

I would like to add one more point.

Don't try too many things:

                   Newbies have to stick with the trading method which suits them better,I suggest them to be a long term trader initially or at least mid term this will help them to get familiar with the condition of crypto trading market.If they try too many things in the initial stage or go with intra day trading then chances of losing their capital is high.

That's why I included newbies in the topic, to show it's for those who are just (about) getting into trading. Trading us a broad topic and I only highlighted simple steps a newbie should take. Losses are bound to come in trading, but I do not see how following basics could expose you to losses.

Tips are easy to say but difficult to implement, everyone can say but to explain to the user how to implement it is difficult.
I don't think people want to know that reading, training, patience, discovering skills are important, but where do they read, how to invest, what happens if the price drops, the best platforms for trading and more. In short how to implement these tips and make them really can make a profit.

These are not tips but the basics before you start trading. Following them may expose you to losses.

Yeah reading those tips are easy but when we enter the market those tips seems not work because market showed us different condition each time, all we need is experience and it's okay for newbie traders to lost because they will learn from experience

You should add few warnings.Don’t follow any signal from people or signal group.Don't jump when coin/token hyip. Follow the news,try to understand chart.Finally Invest those money that you can afford to lose.
Maybe these warnings will be helpful for new traders.       

As long as they are newbies starting small is much better as they can test their understanding in the market through it without risking too much. Or if they really in short budget then using simulators will help them. Applying money without knowledge sometimes leads only to lose so better invest in learning first.

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.

Unfortunately, I can't recommend any mentors to you. All the legitimate groups I know are close knit and it's difficult getting random new people in.
Search around: use tools like, YouTube, Quora, Steemit etc, filter all the information and you'll eventually find the one that will suit you.
Note: all information you get from others are just suggestions and you should always do your own research, you bear the consequences of your actions.

That was already included in the OP

Yes, I often hear a lot about these tips. I have been doing my training too but sometimes I get stuck and I can't feel the market. I think that I and other newbies need mentors and can you recommend us? I highly appreciate being involved in a group that specializes in training newbies.

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.

Add the ability to know when to stop, or make a limit when trading, PLUS trade only what you can trade. There are quite a few important things to note in trading but these too are important so that you wouldn't lose much when you're actually losing in a trade. Plus, asking for loans to invest isn't really an optimal thing to do so trade what you can.

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.