Topic: Tips to actually start earning from Trading & END LOSES - page 4. (Read 860 times)

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.

Your advice is very interesting, however I am very interested in the books that you put, although the direction you focus on is Technical Analysis, all the books that you have put them through, because I am a fan of Trading books , and although they are focused on the use of indicators and chartist figures, they are excellent readings.

However, I could recommend some books that have helped me understand the market:

1-Theory of Wyckoff, by Valdecantos.
2.-Wyckoff by Richard Wyckoff.
3. Memories of a market speculator Jesse Livermore

In conclusion all related to Wyckoff and Livermore, if you can also everything that has to do with the author: Malkiel Burton.

I assure you that reading those books will change your way of analyzing the market, it is not focused on analyzing in a technical way, but in a way that market speculators do.

If you can read them and once you do, let me know and share what progress you have made in trading.

A great tip but newbies doesn't really do this kind of work because most of them are too greedy,
They would just jump in the market without a plan and they just want to get a profit .

This is true all of them should be a great reminder because most of traders think that it is their investment, And most of them doesn't have a plan and a stop lose that is why they are lossing too much.

Yes, it is good luck to come and trade at the right time when the market is in good condition, all that happens is how we manage it, have no understanding after following the crypto trade because it is very high risk when the market is not friendly, very good momentum must be used as well as possible, calm down and don't panic too much, and turn off knowledge about trading and crypto.

Stop Control Lose still difficult for me, I can't set it properly sometimes the market hit my stop loss and the price back up again. Anyway this its a good thread more than 70-80% I already using them.

Did you know that new people have a big chance to get their luck in trading?
It's true they don't have better skills like others, but sometimes, they are a very lucky person who can make a big profit in a short time.
I've seen that things happen in my trading time and I see that one or two people can get that profit even their profit is bigger than me because they have a good feeling in trading.
But after that, if they don't learn anything, they could get a loss and from that, if they don't realize what their mistake, they will lose all of their money in trading and they will say that trading is not work for them.
Learning a single indicator more important than you learn more than 5 indicators because with learning one indicator, it makes you focus on the market so you can see a chance to make a profit.
One person who can master one indicator can beat the other people who learn 5 or more indicator, but they don't master all of 5 indicators like the first person.

Yes, rightly said everyone thinks that getting a trade setup and doing technical Analysis is Solely trading but in trading your trade setup accounts for merely 10% of the whole game. 50% is of money management and risk minimization while remaining 40% is control over emotions. The starters learn the 10% and think they have understood the whole game and the advantage of the same is taken by huge whales.
I don't agree with you no one can ever got profit in a short time especially if you are absolutely new. Making losses in the start is like a fees that you pay to the market to teach you lessons. Moreover merely knowledge of indicators won't help. I have seen people earning millions on naked charts and use of single indicator. Infact, a complex trading system will only make you more dubious about your trades. Only answer for every trader is money management.

The successful trader is only for a person who can learn many things related to trading.
He can get the main point on how to trade with using analysis, and he knows how to analyze the market.
As long as he can use one or two indicators in the market (better more indicators), he could get a profit in a short time, and even he can do to get daily profit.
But that will only work for people who have a goal that he needs to achieve in trading.
There is a lot of things to learn for every new people who want to get a profit in trading.

I couldn't agree more with you. It is a very good info for the newbie traders and it is never enough reminding them what trading actually is. Most of them treat trading like gambling, without

a) previously setting up a some kind of trading system, and
b) backtesting it to see if there is a chance it can be profitable.

And, most newbies play the short game: they want to make money fast, while in reality they should be playing the long game and aim for realistic profit targets over longer periods of time.

You have also mentioned risk and money management. In my opinion, risk management is the single most important thing in trading. And how many newbies actually learn it before trading? Not many I would say. That's why they fail.  

Manipulation exists in all types of market. No market in this world is free from insider trading. Moreover pumps do make trading pretty difficult. But staying away from pumps and doing technical analysis still pays a lot. Infact, sometimes pumps which we think are manipulation are reaction of major traders to some great indicators of bullishness. Enron scandal itself unfolded upto what extent insider trading & manipulations can be done in stock markets too.
Absolutely true. I generally think that if you are not already in the ship when the pump took place it's better to stay away from it once it has started.

having a low market cap is not the reason why trading those tokens is a bad idea. the fact that they are purely pump and dump coins makes trading them a bad idea specially for a newbie who is not yet familiar with trading or with the market itself.
otherwise if these coins weren't 100% manipulated they could have been good choices. but now you only have to know how to go around pumpers and make your profit before they cash out (aka dump) otherwise you get stuck.

I like the advise in your graphic table especially number 11 on the log.

Accepting that everyday isn't a winning day will make a trader not to be greedy, like is going to be seen as a game then you see more profits because you are taken your trade as a game. Number 10 is also another good advise that newbies need to adhere to.

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 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.