Trading advice for newbies - page 2.

MFahad

hero member

Activity: 2464

Merit: 644

Eloncoin.org - Mars, here we come!

Quote from: Sanugarid on January 05, 2024, 08:30:19 PM

It's true that gambling is very different from trading, gambling is more about reducing or wasting money, you need luck in gambling to win. In trading you need skills, strat, understand well etc. The only thing they have in common is High risky. Being greedy is in people and it will never go away.

There is no doubt that there is risk in trading, but we can minimize it based on our skills and experience. This is the main difference between a new and an experienced trader that he never trades with high risk of loss. The temptation to profit is present in everyone, but it is never meant to trade in a way where you try to make both profit and loss at equal rates. Risk is everywhere, but in cryptocurrency trading we cannot say that all cryptocurrencies are high risk. Some may have more risk and some may have less risk, but it is up to us which one we prefer.

The difference between gambling and trading is that in gambling you are playing on a 50% of profit and loss. Whereas in trading you know that your chance of profit is more and the risk of loss is less. If, however, one trades with the thought of taking the risk and ignoring the percentage of profit and loss, then there is no difference between trading and gambling.

Sanugarid

full member

Activity: 1442

Merit: 153

★Bitvest.io★ Play Plinko or Invest!

Quote from: Bitcoinpoly on December 05, 2023, 08:07:39 AM

New users within the crypto space should understand that crypto trading is different from gambling where a mere prediction can yield result. As a newbie within the crypto space kindly check the following before you go into trading.

1. Learn about the volatile market
2. Learn how to analyze chart
3. Take your time to practice demo trading before going into real trading.
4. Do not be greedy, take profit when it’s best to do that, do not hope to get the whole world at a time.

You need to understand the learning process takes long, you have to be calm and follow through the process, if you’re too interested in the profit and not the skill or you don’t have time to do so, you can opt in for copy trading where you get to copy trade from elite traders and make profit, though copy trading is not available on all exchanges just few exchanges like Bitget has it.

Good luck newbies❤️

It's true that gambling is very different from trading, gambling is more about reducing or wasting money, you need luck in gambling to win. In trading you need skills, strat, understand well etc. The only thing they have in common is High risky. Being greedy is in people and it will never go away.

boyptc

hero member

Activity: 2940

Merit: 657

★Bitvest.io★ Play Plinko or Invest!

Quote from: borovichok on January 05, 2024, 05:57:23 PM

Quote from: Bitcoinpoly on December 05, 2023, 08:07:39 AM

3. Take your time to practice demo trading before going into real trading.

There are advices that will be given but newbies will think it's one of the means to prohibit them from trading, if you're a newbie, don't open any trade option without comprehending with appropriate knowledge what the marker is all about, I don't want the mistake that happen to me repeat itself to any one I've known or seen online. Yeah, you're right. A newbie ought to become practically balance and accurate in triggering open trade and also closing trades on demo account for preparation for the main tasks ahead, before hooping for the real acounts.

And when they get into the real trading, it's fine to start with the minimum amount that the exchange requires them or even more than the minimum as long as they can take the possible loss of their actual starting capital.

Expect that it's not an easy thing for them when they start because everyone should start somewhere right? While for most of the starters, it's always like that.

Most results will be against to their will but after several trades and when you know how trading actually works, you'll create a strategy that you might want to test then.

borovichok

hero member

Activity: 1148

Merit: 518

Quote from: Bitcoinpoly on December 05, 2023, 08:07:39 AM

3. Take your time to practice demo trading before going into real trading.

There are advices that will be given but newbies will think it's one of the means to prohibit them from trading, if you're a newbie, don't open any trade option without comprehending with appropriate knowledge what the marker is all about, I don't want the mistake that happen to me repeat itself to any one I've known or seen online. Yeah, you're right. A newbie ought to become practically balance and accurate in triggering open trade and also closing trades on demo account for preparation for the main tasks ahead, before hooping for the real acounts.

abel1337

legendary

Activity: 2464

Merit: 1145

FOCUS

Quote from: sulendra12 on December 27, 2023, 05:33:20 PM

Quote from: Bitcoinpoly on December 05, 2023, 08:07:39 AM

3. Take your time to practice demo trading before going into real trading.

You don't really need to practice in demo trading because the experience and emotion you could get in real trading doesn't really apply in demo trading, you feel nothing when you trade on it because it's not your money. Sure, it's fine to try your trading strategy before implement it in real trading but it doesn't really matter if you don't have chance to try it especially with the endless amount of possibilities in real trade.

Yep, it's not a requirement but I think that it is a great help especially for those who are trying to learn trading. They are trying to get the grasp of trading in a real trading environment even if they are not using real funds to trade. Demo trading is a good feature that we can use, even traders with experience can use it to try techniques that they want without risking their valuable assets.

Not all newbies used demo trading account, some of them trades straight out of their money. We all have different financial capabilities and I understand the both worlds. It's still nice to have this option for newbies who want to practice without spending money.

sulendra12

hero member

Activity: 2814

Merit: 526

Undeads.com - P2E Runner Game

Quote from: Bitcoinpoly on December 05, 2023, 08:07:39 AM

3. Take your time to practice demo trading before going into real trading.

You don't really need to practice in demo trading because the experience and emotion you could get in real trading doesn't really apply in demo trading, you feel nothing when you trade on it because it's not your money. Sure, it's fine to try your trading strategy before implement it in real trading but it doesn't really matter if you don't have chance to try it especially with the endless amount of possibilities in real trade.

FinePoine0

full member

Activity: 378

Merit: 113

★Bitvest.io★ Play Plinko or Invest!

Quote from: Bitcoinpoly on December 05, 2023, 08:07:39 AM

New users within the crypto space should understand that crypto trading is different from gambling where a mere prediction can yield result. As a newbie within the crypto space kindly check the following before you go into trading.

1. Learn about the volatile market
2. Learn how to analyze chart
3. Take your time to practice demo trading before going into real trading.
4. Do not be greedy, take profit when it’s best to do that, do not hope to get the whole world at a time.

You need to understand the learning process takes long, you have to be calm and follow through the process, if you’re too interested in the profit and not the skill or you don’t have time to do so, you can opt in for copy trading where you get to copy trade from elite traders and make profit, though copy trading is not available on all exchanges just few exchanges like Bitget has it.

Good luck newbies❤️

The most important thing for beginners to learn is that they should not be overly greedy. A trader must understand the speed of the market and buy and sell properly, if he can buy when the price is low and if he can sell after the price rises, then surely a trader can be successful. It is better to be satisfied with a small amount of profit in the beginning, if there is excessive greed then people are more likely to face the front.

Finestream

hero member

Activity: 3010

Merit: 604

My only trading advice for newbie is that, don't risk in trading when you're not yet ready. A lot of newbies want to trade quickly because of the desire to gain early income, even without sufficient knowledge and various experiences in the market. Instead of expecting a profit, you'll only end up with an instant loss. Trading never makes you an instant winner, but an instant loser indeed.

While trading in the market is always hard in the beginning, the reason why newbies should develop trading skills and good experience before rushing to trade. And that will only be achieved if you take time to learn the process in trading.

Mame89

sr. member

Activity: 1512

Merit: 418

Quote from: Maslate on December 13, 2023, 05:47:56 PM

No matter how you are going to educate newbies in trading, its undeniable that we will still see them trading like gambling at first. Trading with lack of experience is still like playing gambling, you are just waiting for your luck to favor you so you can win and beat the other players. But as you go on trading every now and then, your knowledge and skills will improve and develop, your strategies will be more enhanced as well, that made you a better trader in the process. Experience will always be the best teacher as they say, and has been proven by everyone that succeeds in trading.

Agreed. Trading without having knowledge is the same as gambling just relying on luck. For me, the first step for beginners before starting trading is to determine our own goals and risk tolerance by continuing to learn so that the knowledge gained becomes broader. And it is highly recommended to learn on this forum, because this forum is very complete about trading. Because if we know the facts about investing and follow it up with a smart plan, they should be able to gain financial security for many years.

In essence, if we want to be successful in trading, we must be responsible for our emotions, not blame other people. Apart from making us feel even more guilty for our mistakes, pointing fingers at others will only increase our sense of personal responsibility. Because there is always a risk in every investment, but people still invest and succeed. we have to look outward if we want to be successful in life.

BitcoinsGreat

sr. member

Activity: 966

Merit: 280

Quote from: Eldestyoung on December 25, 2023, 10:39:21 PM

The best advice I can give to any newbie in trading is for he/she to know what he/she is doing.

Just as the Bible says: study to show yourself approve, before you venture into trading you must learn about everything that has to do with trading and be well equipped.

Well there are people who are well equipped with trading expertise and trading knowledge, yet they lose in trading. The reason is that trading knowledge won't always make you win the trades as there are a lot of whales play and manipulation in this industry. The only thing which can sav EU's in trading is money management.

Without money management skills you cannot be a good trader, no matter how much you know about technical and fundamental analysis.

Eldestyoung

jr. member

Activity: 39

Merit: 1

The best advice I can give to any newbie in trading is for he/she to know what he/she is doing.

Just as the Bible says: study to show yourself approve, before you venture into trading you must learn about everything that has to do with trading and be well equipped.

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

Quote from: kojektea on December 19, 2023, 03:04:34 PM

Copy trading is one of the best alternatives for newbies. I am grateful that many markets now have this feature, which makes it easier for us as beginners to immediately dive into the world of trading without having to worry about our own decisions. It's like we have a mentor who is open to guiding us directly just by following how they trade. makes beginners learn faster with low risk.

Copy trading is not a panacea, as you copy the trades of traders who, like you, can make wrong decisions. Personally, I made several attempts to get passive income in this way, but all my deposits that I connected to copy trading were eventually liquidated by the exchange.

kojektea

sr. member

Activity: 2254

Merit: 256

Vave.com - Crypto Casino

Copy trading is one of the best alternatives for newbies. I am grateful that many markets now have this feature, which makes it easier for us as beginners to immediately dive into the world of trading without having to worry about our own decisions. It's like we have a mentor who is open to guiding us directly just by following how they trade. makes beginners learn faster with low risk.

MFahad

hero member

Activity: 2464

Merit: 644

Eloncoin.org - Mars, here we come!

Quote from: irhact on December 19, 2023, 12:57:52 PM

Many individual still think trading is gambling, this make them to not take trading serious to learn how to trade properly, they just start trading and get lucky then they think they're experts and starts risking more. After sometime, the reality catches up with them and they begin to lose as they didn't understand how the market is moving. Newbies need to learn and take interpreting of chart serious as that shows, you know what you're doing.

Interpreting your own charts make you become a very experienced traders as when you make mistakes you can learn from the mistake and improve on the things you didn't understand while interpreting the other chart that you lost. Interpreting your own charts will make you not to rely on other traders or signals groups or channels for trading signals. Depending on others won't make you a profession or profits all the time and can't take you lessons.

People who don't know anything about trading may consider trading as gambling.Although there is a lot of difference between trading and gambling, a skill and experience for trading helps to give good profits. It is not necessary that a person who does not know anything about trading and considers trading as gambling should start making profits as soon as he starts trading.

I have not seen such fortune of anyone, but such people waste their money from the beginning. Apart from chart interpretation for trading, there are many other things that can be done to make good trading. Different indicators can be used, One should always keep an eye on the projects updates and their news, it can help a lot in earning good profit in trading.

irhact

hero member

Activity: 602

Merit: 749

Quote from: Bitcoinpoly on December 05, 2023, 08:07:39 AM

New users within the crypto space should understand that crypto trading is different from gambling where a mere prediction can yield result. As a newbie within the crypto space kindly check the following before you go into trading.

1. Learn about the volatile market
2. Learn how to analyze chart
3. Take your time to practice demo trading before going into real trading.
4. Do not be greedy, take profit when it’s best to do that, do not hope to get the whole world at a time.

Many individual still think trading is gambling, this make them to not take trading serious to learn how to trade properly, they just start trading and get lucky then they think they're experts and starts risking more. After sometime, the reality catches up with them and they begin to lose as they didn't understand how the market is moving. Newbies need to learn and take interpreting of chart serious as that shows, you know what you're doing.

Interpreting your own charts make you become a very experienced traders as when you make mistakes you can learn from the mistake and improve on the things you didn't understand while interpreting the other chart that you lost. Interpreting your own charts will make you not to rely on other traders or signals groups or channels for trading signals. Depending on others won't make you a profession or profits all the time and can't take you lessons.

gunhell16

sr. member

Activity: 1666

Merit: 453

Crypto Swap Exchange

Quote from: GeorgeJohn on December 12, 2023, 06:07:54 PM

Quote from: Essential10 on December 05, 2023, 01:02:09 PM

I think learning trading has a beginning but no end. Most of us, new or old, we read or know many guides about trading. Now if I give you some guidelines, you can do it like this, you can achieve possible success in trading, in fact you never will. Very easy to say, very difficult to do. One thing we should notice is how many people actually try to learn trading? Who really understands how much? If you toss a coin from above, it can land heads or tails, only your choice is here, luck favors it. Where trading falls within a fifty-fifty probability, no money is made.

Trading we learn trading every day by day and the more you learn trading practice trading the more you get more exposure in trading, so therefore I believe that trading have to do with continuous experience but people who is new in trading may think that maybe trading is something that have to with one time learning, so we can't use trading to compare with gambling because is like book the more you read a particular book the more you understand the objective of the author. So what trading really needs is a continuous practicing and the more you practices trading the more you acquire more techniques to overcome obstacles of trading

The more practice we do, the more we learn to get. This is better than just learning, and then we lack the application of what we have learned in crypto trading. So you're right, dude. I agree with what you mentioned.

This means that for newbies who will try to get into the crypto space, we should apply the theories we discover to actual trade so that we or you know if you are learning something from what you are studying about trading, right?

Bitcoinpoly

newbie

Activity: 233

Merit: 0

Quote from: Maslate on December 13, 2023, 05:47:56 PM

Quote from: Bitcoinpoly on December 05, 2023, 08:07:39 AM

New users within the crypto space should understand that crypto trading is different from gambling where a mere prediction can yield result. As a newbie within the crypto space kindly check the following before you go into trading.

1. Learn about the volatile market
2. Learn how to analyze chart
3. Take your time to practice demo trading before going into real trading.
4. Do not be greedy, take profit when it’s best to do that, do not hope to get the whole world at a time.

You need to understand the learning process takes long, you have to be calm and follow through the process, if you’re too interested in the profit and not the skill or you don’t have time to do so, you can opt in for copy trading where you get to copy trade from elite traders and make profit, though copy trading is not available on all exchanges just few exchanges like Bitget has it.

Good luck newbies❤️

No matter how you are going to educate newbies in trading, its undeniable that we will still see them trading like gambling at first. Trading with lack of experience is still like playing gambling, you are just waiting for your luck to favor you so you can win and beat the other players. But as you go on trading every now and then, your knowledge and skills will improve and develop, your strategies will be more enhanced as well, that made you a better trader in the process. Experience will always be the best teacher as they say, and has been proven by everyone that succeeds in trading.

Newbies trading does not amount to gambling if you opt in for copy trading, it can only seem like trading when you decide to trade at any time without any directive from anyone. Bitget copy trading is a feature that has a lot of elite traders who are professionals with good trading history.

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

Quote from: JunkieMiner on December 13, 2023, 01:08:29 PM

Demo trading before starting the real trading would be very beneficial for a newbie who even didn't know about trading. First he have to learn more things in that trading and then he have to take a better yield profit in order to make its own profit...

Of course, demo trading is useful for beginners, but you don't need to exaggerate its value either. As long as the losses are virtual, the trader will not be able to assess all the risks associated with trading. And only the real loss of his money when trading will force him to take up training again in order to minimize losses and accordingly make a profit.

Maslate

hero member

Activity: 2954

Merit: 672

Message @Hhampuz if you are looking for a CM!

Quote from: Bitcoinpoly on December 05, 2023, 08:07:39 AM

New users within the crypto space should understand that crypto trading is different from gambling where a mere prediction can yield result. As a newbie within the crypto space kindly check the following before you go into trading.

1. Learn about the volatile market
2. Learn how to analyze chart
3. Take your time to practice demo trading before going into real trading.
4. Do not be greedy, take profit when it’s best to do that, do not hope to get the whole world at a time.

You need to understand the learning process takes long, you have to be calm and follow through the process, if you’re too interested in the profit and not the skill or you don’t have time to do so, you can opt in for copy trading where you get to copy trade from elite traders and make profit, though copy trading is not available on all exchanges just few exchanges like Bitget has it.

Good luck newbies❤️

No matter how you are going to educate newbies in trading, its undeniable that we will still see them trading like gambling at first. Trading with lack of experience is still like playing gambling, you are just waiting for your luck to favor you so you can win and beat the other players. But as you go on trading every now and then, your knowledge and skills will improve and develop, your strategies will be more enhanced as well, that made you a better trader in the process. Experience will always be the best teacher as they say, and has been proven by everyone that succeeds in trading.

JunkieMiner

member

Activity: 412

Merit: 10

Quote from: Bitcoinpoly on December 05, 2023, 08:07:39 AM

New users within the crypto space should understand that crypto trading is different from gambling where a mere prediction can yield result. As a newbie within the crypto space kindly check the following before you go into trading.

1. Learn about the volatile market
2. Learn how to analyze chart
3. Take your time to practice demo trading before going into real trading.
4. Do not be greedy, take profit when it’s best to do that, do not hope to get the whole world at a time.

You need to understand the learning process takes long, you have to be calm and follow through the process, if you’re too interested in the profit and not the skill or you don’t have time to do so, you can opt in for copy trading where you get to copy trade from elite traders and make profit, though copy trading is not available on all exchanges just few exchanges like Bitget has it.

Good luck newbies❤️

Demo trading before starting the real trading would be very beneficial for a newbie who even didn't know about trading. First he have to learn more things in that trading and then he have to take a better yield profit in order to make its own profit.
The trader who are new in trading should have to know the coins prices before he wants to make a trade in them. Otherwise he can lose his assets which he prepared for the first time.

Topic: Trading advice for newbies - page 2. (Read 871 times)