It's hard not to trade on emotions but you have to remember this is a game and we have to always look forward,don't look backwards once a trade is executed. Little profit is not a bad word my friends, be contented of a the small amounts you gained. It is better safe +10% than a wannabe +100% of no assurance, people are just greedy sometimes but can't blame them, we are human after all.
Being in greedy will never have a good result but instead, it mostly ended up into losing. Ain't that really bad if we go for emotion trading if we know our mistakes and even recognized our limits. It sometimes I used to have my instinct will play in trading and it is quite some time that it will work well. 
Topic: Tips to actually start earning from Trading & END LOSES - page 3. (Read 860 times)
Great points you mentioned. especially rule number 7 "Have a target" because if you will enter a trade without a target you can lose focus taking your profits which is the goal of the whole Idea behind trading. '
This is not a tip in my mind. This is basic training course. When I first picked up trading myself all those years ago before crypto came into existence, this was the important lessons part of trading 101. Enter and exit with a target in mind for every single trade. Nobody ever goes in and "let's see what happens and decide later". If you trade without limit orders, you are just asking for trouble. Flash crashes, flash spikes if you are shorting?
There is nothing better than trying yourselves and finding you winning strategy,you can't be successful by reading books of other people which will give an idea but not much useful though so its just wasting your time.
When you are just a newbie then don't try to hit high targets and also don't pick shit coins for high profits just stick with coins like bitcoin and stable coin par and start making money soon after your started.
When you are just a newbie then don't try to hit high targets and also don't pick shit coins for high profits just stick with coins like bitcoin and stable coin par and start making money soon after your started.
If I'm sure of the option I have put I'm never going to put a stop loss, I just risk that money (I always mind how much I'm trading). I do this especially when I'm trading forex and bitcoin as well. There are sometimes you make an accurate prediction but at the middle of the process, things will start to seem like they have start going the wrong, if you can't hold on and have patience to see if it will change route and go back to what you have predicted, it might be at that time you have stopped your trade that it will going back. Difficult stuff.
legendary
Activity: 2408
Merit: 4282
eXch.cx - Automatic crypto Swap Exchange.
I don't think it's advisable to trade low market cap coins/tokens unless you're planning on engaging in pump and dump scheme (which you're risking your fund as that isn't trading but gambling) and most times ends on being a scam. Low market cap are more suitable for investing i.e buy and hodl than trading even bitcoin (with all the high market cap it has), most times is difficult to predict its price movement talk more of low market cap cryptocurrency. When it comes to trading, it's best you develop your personal strategy and don't depend on someone else strategy. It works for Peter doesn't guarantee success for John.
The ideas you have shared is a very nice one and I think many of those that are newbies will actually benefit from this "trading tips" . I think it is good to advice that your understanding on when to buy and sell at the time and remain in profits is one of the best thing that can happen to any traders and we should strive to get those understand.
Do they ever work in crypto? I mean newbies trade trash tokens with a market cap below $5m and they plan of making money with technical analysis, seriously? Even Bitcoin can be considered as a low market cap asset now.
I dont agree that low market cap coins are trash,to be real most are profitable,trading is based on price,look at 1337 many traders got so much money from 1337 coin last year specially those big holders and guess how much market cap it has 1m$ before pump. 
One of the important things in trading as you mentioned is risk management. This is a traders ability not to over trade and to measure his or her order based on the money he has in his balance. I believe newbies won't understand this easily but I hope they keep to it because it is one way to a successful tradeing.
:)I have seen people lurking around here and there finding someone who can guarantee them great success in trading and help them earn huge profits. Trust me there is no one who is going to help you out personally to earn profits. All the fake gurus out there betting to make you earn are only there to fetch some dollars from you. It is quite a known fact that only 3% of traders are actually able to take money out of the market while 7% remain almost at breakeven. While 90% lose most of their money most of which burn their whole balance.
Trading is the most rewarding career as far as I can see therefore is equally difficult too. You can't be a persistant trader in a day or two. It requires efforts of months or even years to become a great trader but here are a few things you should do as a newbie starting off:
1: Have a goal for yourself and a plan to achieve it. you can set your own goals but make sure they are realistic. Like goal to earn $1 Million is realistic but making it in a day or week or even a month is unrealistic.
2: Read Books and journals of big traders A very important step in trading. Its better to learn off from the mistakes of past trader than to commit them on your own. For that read some books. Here is the list of great books for newbie traders.
i. Market Wizards by Jack D. Schwager
ii. 3. Day Trading For Dummies by Ann C Logue
iii. Mastering The Trade by John Carter
iv. Technical Analysis of the Financial Markets by John J. Murphy
these will help you in finding your trading Style
3: Make your own trading setup and strategy & follow Risk Management: This is the hardest step hit and trial your favourite indicators to find a setup that suits you the most. Don't ever copy someone's else setup whole on whole it's never going to help as everyone has a separate style of trading. Never ever underestimate the need of risk management it is of utmost importance.
4. Make your own Trade Journal: This is the most important step which most of the traders find bouring. See it's utter truth that you will lose a few initial trades but to make sure that you learn from these losses make a trade diary. Record every trade including the reason you traded it and result along with the reasons of failure. This will help you not to repeat the same mistake in future.
5. Do trading regularly in a disciplined way: No one has ever built up a monument in a day. So it takes time to build a great portfolio but just a few days to destruct one. So keep your risks low and trade everyday here is something that can motivate you. With an account of just $100 if you profit everyday at a yield of 2%(which is pretty low in these volatile markets) you will have a portfolio of $3500 in 6 months. That is 35 times return and compounding just never ends so try to keep your daily targets and try to achieve them too.
Here are links of some great sites that can help:
1. https://www.tradingview.com/chart/GBPUSD/B3HvNCh4-Power-of-100-trading-plans-review/
2. www.zerodha.com/varsity
3. https://www.tradingview.com/chart/BTCUSDT/kestHGNN-This-is-Why-Beginner-Traders-Lose-Their-Capital-1-No-Strategy/
4. https://www.babypips.com/learn/forex/
Here is a graphic which truly depicts trading
PS: You may share your love with merit.
I will bring more tips for intermediate traders soon.
Trading is really easy once you can study the crypto market very well to know when it's time to buy in or when it's time to take some profit, though you might not be able to know this until you can contact a professional trader to teach you how it works, this is where some persons fail because they don't want to waste their money paying some persons to teach them how to trade crypto, but they can fund their balance with crypto and end up losing all of it because they don't really know how to study the market very well. Trading is the most rewarding career as far as I can see therefore is equally difficult too. You can't be a persistant trader in a day or two. It requires efforts of months or even years to become a great trader but here are a few things you should do as a newbie starting off:
1: Have a goal for yourself and a plan to achieve it. you can set your own goals but make sure they are realistic. Like goal to earn $1 Million is realistic but making it in a day or week or even a month is unrealistic.
2: Read Books and journals of big traders A very important step in trading. Its better to learn off from the mistakes of past trader than to commit them on your own. For that read some books. Here is the list of great books for newbie traders.
i. Market Wizards by Jack D. Schwager
ii. 3. Day Trading For Dummies by Ann C Logue
iii. Mastering The Trade by John Carter
iv. Technical Analysis of the Financial Markets by John J. Murphy
these will help you in finding your trading Style
3: Make your own trading setup and strategy & follow Risk Management: This is the hardest step hit and trial your favourite indicators to find a setup that suits you the most. Don't ever copy someone's else setup whole on whole it's never going to help as everyone has a separate style of trading. Never ever underestimate the need of risk management it is of utmost importance.
4. Make your own Trade Journal: This is the most important step which most of the traders find bouring. See it's utter truth that you will lose a few initial trades but to make sure that you learn from these losses make a trade diary. Record every trade including the reason you traded it and result along with the reasons of failure. This will help you not to repeat the same mistake in future.
5. Do trading regularly in a disciplined way: No one has ever built up a monument in a day. So it takes time to build a great portfolio but just a few days to destruct one. So keep your risks low and trade everyday here is something that can motivate you. With an account of just $100 if you profit everyday at a yield of 2%(which is pretty low in these volatile markets) you will have a portfolio of $3500 in 6 months. That is 35 times return and compounding just never ends so try to keep your daily targets and try to achieve them too.
Here are links of some great sites that can help:
1. https://www.tradingview.com/chart/GBPUSD/B3HvNCh4-Power-of-100-trading-plans-review/
2. www.zerodha.com/varsity
3. https://www.tradingview.com/chart/BTCUSDT/kestHGNN-This-is-Why-Beginner-Traders-Lose-Their-Capital-1-No-Strategy/
4. https://www.babypips.com/learn/forex/
Here is a graphic which truly depicts trading
PS: You may share your love with merit.
I will bring more tips for intermediate traders soon.
What a useful tips to remind us traders that we should not lost on the right track. I have downloaded the graphic as to remind me my goal at the first place. There are times that i tend to forget some of written here especially that tip no. 5. Discipline in trading is the most significant attitude if we want to become a great trader. Emotions are entering but we should have a self disciplined attitude.
Target profits, based on my own experience is really hard to achieve when the market is so unpredictable. Sometimes, indicators are being useless and the target profit can not achieve.
Target profits, based on my own experience is really hard to achieve when the market is so unpredictable. Sometimes, indicators are being useless and the target profit can not achieve.
It's hard not to trade on emotions but you have to remember this is a game and we have to always look forward,don't look backwards once a trade is executed. Little profit is not a bad word my friends, be contented of a the small amounts you gained. It is better safe +10% than a wannabe +100% of no assurance, people are just greedy sometimes but can't blame them, we are human after all.
Being in greedy will never have a good result but instead, it mostly ended up into losing. Ain't that really bad if we go for emotion trading if we know our mistakes and even recognized our limits. It sometimes I used to have my instinct will play in trading and it is quite some time that it will work well. To earning in trading, you don't have to chase more profit if it is difficult because that will be the same if you can take a small profit but you can get it in over and over, and in the end, your profit will become bigger too.
If you still use emotion in trading, then maybe you need to learn about controlling the emotion in trading because that will prevent you from making a profit in the long-term.
in long terms and only this is the reason that why most of the trading bots earn profit even with a algorithm fitted by humans while humans can't earn the same.
They feel that they need to place the price at a higher price so the profit will bigger.
But they forgot that it will be their greediness to chase the profit because in the next minutes, the price will not always increase and they lose the chance to take the profit.
The bots don't have those feeling, and they can almost always take the profit with the right setting.
1: Have a goal for yourself and a plan to achieve it.
2: Read Books and journals of big traders
3: Make your own trading setup and strategy & follow Risk Management:
4. Make your own Trade Journal:
5. Do trading regularly in a disciplined way:
Those are all major thing to be needed when you are engaging into trading but also into other investment which it do really
require some analysis,knowledge,experience,discipline,emotion control,setting goals etc. Except for that no. 2 that you had
mentioned.Reading books or any preference from big traders isn't really bad yet you can get out some ideas but each
trader do have its own trading ways.If you decide to follow their steps then it wont be that easy yet effectiveness
of strategy wont work to anyone.It did work on them but not for you that's why we do seek on our own.
Great points you mentioned. especially rule number 7 "Have a target" because if you will enter a trade without a target you can lose focus taking your profits which is the goal of the whole Idea behind trading. '
This is a great guide to start with for newbie traders I think. Most importantly the emphasize on money management makes me realize that why most of the traders lose money they think that earning in trading is something which can happen over night. What they don't realize is that it requires persistence and some great level of hardwork. Moreover consistently trading is something which most people don't do as they quickly start to thinking trading as a scam or something
Kinda inside voice trading. It is boring to trade with a fixed strategy and money management. Sometimes, for adding more fun to trading I increase the leverage or take margin from trade. Depending on the trade expectation, profit/loss ratio is managed by fixed rules in my personal trading journey.
We already have seen that being greedy can make us lose to catch a good chance to make a profit because we have a passion for chasing a bigger profit than what we can see.
To earning in trading, you don't have to chase more profit if it is difficult because that will be the same if you can take a small profit but you can get it in over and over, and in the end, your profit will become bigger too.
If you still use emotion in trading, then maybe you need to learn about controlling the emotion in trading because that will prevent you from making a profit in the long-term.
Yeah pretty well said emotions play a bigger role than what we see. Only Practicing emotionless trading will fetch profits
in long terms and only this is the reason that why most of the trading bots earn profit even with a algorithm fitted by humans while humans can't earn the same.
It's hard not to trade on emotions but you have to remember this is a game and we have to always look forward,don't look backwards once a trade is executed. Little profit is not a bad word my friends, be contented of a the small amounts you gained. It is better safe +10% than a wannabe +100% of no assurance, people are just greedy sometimes but can't blame them, we are human after all.
Being in greedy will never have a good result but instead, it mostly ended up into losing. Ain't that really bad if we go for emotion trading if we know our mistakes and even recognized our limits. It sometimes I used to have my instinct will play in trading and it is quite some time that it will work well. To earning in trading, you don't have to chase more profit if it is difficult because that will be the same if you can take a small profit but you can get it in over and over, and in the end, your profit will become bigger too.
If you still use emotion in trading, then maybe you need to learn about controlling the emotion in trading because that will prevent you from making a profit in the long-term.
in long terms and only this is the reason that why most of the trading bots earn profit even with a algorithm fitted by humans while humans can't earn the same.
It's hard not to trade on emotions but you have to remember this is a game and we have to always look forward,don't look backwards once a trade is executed. Little profit is not a bad word my friends, be contented of a the small amounts you gained. It is better safe +10% than a wannabe +100% of no assurance, people are just greedy sometimes but can't blame them, we are human after all.
Being in greedy will never have a good result but instead, it mostly ended up into losing. Ain't that really bad if we go for emotion trading if we know our mistakes and even recognized our limits. It sometimes I used to have my instinct will play in trading and it is quite some time that it will work well. To earning in trading, you don't have to chase more profit if it is difficult because that will be the same if you can take a small profit but you can get it in over and over, and in the end, your profit will become bigger too.
If you still use emotion in trading, then maybe you need to learn about controlling the emotion in trading because that will prevent you from making a profit in the long-term.
I add another tips, always up to date about the crypto currency news, gossip and issue. Also check the crypto market everyday.
Like what happened in the last few days. Cryptocurrency increase so high since 2 days ago and me as a trader will buy bitcoins yesterday when the price still at $6,700 and as you can see now, the price is at $7k+ right now.
Like what happened in the last few days. Cryptocurrency increase so high since 2 days ago and me as a trader will buy bitcoins yesterday when the price still at $6,700 and as you can see now, the price is at $7k+ right now.
It's hard not to trade on emotions but you have to remember this is a game and we have to always look forward,don't look backwards once a trade is executed. Little profit is not a bad word my friends, be contented of a the small amounts you gained. It is better safe +10% than a wannabe +100% of no assurance, people are just greedy sometimes but can't blame them, we are human after all.
Being in greedy will never have a good result but instead, it mostly ended up into losing. Ain't that really bad if we go for emotion trading if we know our mistakes and even recognized our limits. It sometimes I used to have my instinct will play in trading and it is quite some time that it will work well.
Very useful information, thank you. The most important thing is to get knowledge and therefore we should start with theory. This is a very important point, which is neglected by many beginners. You wrote it right. In fact, it is not difficult to trade. The main thing is to be disciplined and not to neglect the rules.
It's hard not to trade on emotions but you have to remember this is a game and we have to always look forward,don't look backwards once a trade is executed. Little profit is not a bad word my friends, be contented of a the small amounts you gained. It is better safe +10% than a wannabe +100% of no assurance, people are just greedy sometimes but can't blame them, we are human after all.
Keep going, that's part of trading, been missing out this bear season but now it should be a come back time even in trading, we can expect losses when we trade but never let your emotions eat you keep studying the OP list will really boost our attitude in trading and know whether there is a coin that can help you earn. It's hard not to trade on emotions but you have to remember this is a game and we have to always look forward,don't look backwards once a trade is executed. Little profit is not a bad word my friends, be contented of a the small amounts you gained. It is better safe +10% than a wannabe +100% of no assurance, people are just greedy sometimes but can't blame them, we are human after all.
Being in greedy will never have a good result but instead, it mostly ended up into losing. Ain't that really bad if we go for emotion trading if we know our mistakes and even recognized our limits. It sometimes I used to have my instinct will play in trading and it is quite some time that it will work well. Jump to: