Trading advice for newbies - page 3.

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Quote from: JunkieMiner on December 13, 2023, 12:08:29 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.

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Quote from: Bitcoinpoly on December 05, 2023, 07:07:39 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.

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Quote from: Bitcoinpoly on December 05, 2023, 07:07:39 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.

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As a new user, many people understand very little about trading and crypto. That's why many times many people come to trading and face losses, and they lose money. Basically, new users think that it is possible to become rich in a short period of time by trading, but actually this is not true. A new trader must follow all these steps for trading, otherwise he will never make a profit. When you start training in the market you can definitely face volatility so never get discouraged but be patient, it will help you in future. And it can be different in trading, so know the market well and learn to analyze it. You will never be greedy there are always losses so trading with patience and understanding can be profitable. And the person who follows these strategies will definitely be able to make money in the future.

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Quote from: Essential10 on December 05, 2023, 12:02:09 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

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Quote from: Bitcoinpoly on December 05, 2023, 07:07:39 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❤️

6. Dont make yourself that easily believe into others trading analysis or recommendations
7. Dont get impulsive with your trading decisions
8. Dont get yourself that being impatient
9. Proper financial or capital management
10. Patience

These things might really be that just simply the basics but when you are on the actual situation or condition then it would really be that so damn hard to follow these principles.
This is why it would really be always best that we should be mindful on the steps that we are really that doing because if you dont then you would really be finding yourself on a tough spot.
Set out some goals or targets on hitting up a specific profit period on which it would really be just that depending on how well you do make out those decisions.
It might not be simple but its not something impossible to do so. It all matters with discipline.

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Quote from: Nrcewker on December 09, 2023, 12:21:02 PM

A newbie should give time to the market according to me. I have often seen people have a misconception that trading means quick and easy money overnight. But that’s completely wrong. The amount of money that you will make from trading completely depends on the risk that you are willing to take. But as you are a newbie, hence it’s advised to take less risk and get familiar with the market. Once you gain enough experience try different strategies and make desired amount of money.

Those who understand by trading can make money according to their wishes quickly. I think they have misunderstood trading, there are many things that must be understood well to be able to trade and also we must really understand the market well and also know the risks what we will get if we make mistakes in making decisions in trading.

You are right, if we are new to trading, it would be better for us to use a little capital to be able to trade while understanding trading well and when we understand it well then we can do it with capital according to what we want to make a profit.

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Quote from: Franctoshi on December 05, 2023, 12:56:27 PM

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

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.

There is no shortcut to this, Even though you want to do copy and paste trading, you need the basic knowledge about trading, that is, how to set t.p's and stop loss because sometimes an instructions maybe given to you by an expert trader that you copy to adjust stop loss or your take profits, and you don't know how to go about it, except if you're into exchange copy trading that is automatic where you don't need to do anything and the system does all the jobs for you.

Those are basics that involves little technicalities, newbies need to learn that compulsorily. Some exchange gives directions on how to set SL & TP most times possibly not all exchanges but Bitget does.

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Quote from: tbct_mt2 on December 10, 2023, 09:43:12 PM

Quote from: lombok on December 05, 2023, 12:51:46 PM

Restoring a crypto/bitcoin wallet can be done with the phrase that we saved. Besides I doubt we can recover our Bitcoin wallet.

A wallet seed phrase or private key is key for your wallet recovery. If you have it, you can recover your wallet any time.

Another method is you will need a wallet file in backup and if it is an encrypted file, you will need a password to decrypt it and access your wallet private keys and bitcoins.

Quote from: tbct_mt2 on December 05, 2023, 09:38:14 AM

I really support your opinion regarding basic newbie matters. Know and be able to operate a Cryptocurrency wallet. Because it is very important for newbies to save their assets.

Before they can trade, they must have ability to store their bitcoin or cryptocurrencies safely. Because the advice is always "Don't use all money for trading" so the part is not used for trading, must be stored safely and not on centralized exchanges. People have to be able to secure their own wallets.

Quote

Trading, I think a good and safe thing for newbies is investment compared to trading. Trading is high risk, but also high return. Considering the volatile movement of crypto, trading carried out by newbies without experience and knowledge can result in big losses and potentially gambling.

Trading is risky and I really believe that hope to get rich with trading will cause massive loss. With trading, you can win big then lose big and you will need a lot of time to master trading and control your trading decisions.

Investment is more safe but even before they invest they still need to understand a lot about the crypto space. It’s not just investing without having any knowledge. Before you can invest you should understand the potential profit and the potential loss, also the right investment to venture into, if I’m to recommend I will recommend Bitget Shark fin product for newbies to make money.

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Quote from: Dewi Aries on December 09, 2023, 12:24:14 PM

Basically trading is very difficult, not everyone can get involved in this field and maybe only some of them have a warrior spirit and strong mentality that can go through all the processes they will experience. Achieving profits in trading is not as easy as turning your palm, you really need experience and very good skills but on the other hand it is not easy to get such knowledge and you will only be able to get all of that from the experience of the failures you have experienced.

That is why traders need a long time to be able to master everything until they can get a fairly consistent profit, therefore every trader must have a strong mentality because the risk of loss can never be avoided and one that can minimize losses so that they are not too significant is to continue to learn from mistakes to be able to develop skills and insights. I think all traders will definitely experience something like this in the initial process of their approach and to determine whether they will be able to become successful traders or not it returns to themselves, if they always work hard and never give up then I think there is success waiting for them ahead.

Sometimes there are some beginner traders who always work hard to learn how to trade well, but they don't have a good enough understanding and don't have a mentor. This will be quite difficult, but if he keeps studying it will gradually become easy to understand. In theory it might be possible, but in practice it will change greatly, because the fluctuating market makes anyone's mentality shaky when they first start trading. beginners certainly need to overcome these challenges in order to have an experience that will awaken them.

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Quote from: Bitcoinpoly on December 11, 2023, 05:22:09 AM

I understand what you’re saying, basically you have to know that when a newbie copy trade from an elite trader it’s not the newbie who is doing the analysis. The people who do the analysis are the elite traders, your role is just to look for an elite trader with good previous record, copy their trader and take profit don’t be too greedy. Copy trading is not for only newbies, myself I get busy and copy trade from elite traders on Bitget, I prefer using Bitget because it shows traders profile, so I get the opportunity to choose the best trader.

Unfortunately, many beginners don't know whether they are elite traders or ordinary traders. The amount of money a trader uses to trade does not guarantee that they are an elite trader because if someone has a lot of money and uses it to trade, he can also copy other people's trades.

They should learn about trading and not just copy trades from other traders. By learning to analyze, they will have useful skills to find the time to trade. Copy trading is not for all traders because, after all, they need good analytical skills. If they can learn more and can analyze well, they will definitely trade well.

As for the market, it will depend on each person's comfort. They have to find it themselves and don't just rely on advice from others.

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Quote from: Bitcoinpoly on December 05, 2023, 07:07:39 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❤️

Don't forget about fundamentals. I wrote about it here https://bitcointalksearch.org/topic/m.63135587

The only thing left is greed and if we can get a way with it, it did be easy for any one

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Quote from: tbct_mt2 on December 05, 2023, 09:38:14 AM

Quote from: Bitcoinpoly on December 05, 2023, 07:07:39 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.

With newbies, they should never touch trading with any type of trading.

They have to learn first about Bitcoin, how to store bitcoin safely when they buy it. What wallet to use for bitcoin storage, how to back up a wallet and recover a wallet.

Then after learning basics, they can buy bitcoin and store it in their non custodial wallet for their investment. Let me repeat, investment, not trading.

Trading is risky and newbies are more vulnerable to lose money in trading. Even senior people in the market can lose money with trading so don't expect newbies to get profit with trading.

I understand what you’re saying, basically you have to know that when a newbie copy trade from an elite trader it’s not the newbie who is doing the analysis. The people who do the analysis are the elite traders, your role is just to look for an elite trader with good previous record, copy their trader and take profit don’t be too greedy. Copy trading is not for only newbies, myself I get busy and copy trade from elite traders on Bitget, I prefer using Bitget because it shows traders profile, so I get the opportunity to choose the best trader.

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Quote from: tbct_mt2 on December 10, 2023, 09:43:12 PM

A wallet seed phrase or private key is key for your wallet recovery. If you have it, you can recover your wallet any time.

Another method is you will need a wallet file in backup and if it is an encrypted file, you will need a password to decrypt it and access your wallet private keys and bitcoins.

Yups, as long as we are able to store it well and don't lose it, our wallet will always be safe. It is important to be able to keep the key and try not to have it or share it with other people.

Quote

Before they can trade, they must have ability to store their bitcoin or cryptocurrencies safely. Because the advice is always "Don't use all money for trading" so the part is not used for trading, must be stored safely and not on centralized exchanges. People have to be able to secure their own wallets.

Well, this is something that many people often miss and underestimate. Storing in a personal wallet is safer than in an exchange wallet which is prone to phishing cases, and is safe if at any time something bad happens to the exchange.

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Quote from: lombok on December 05, 2023, 12:51:46 PM

Restoring a crypto/bitcoin wallet can be done with the phrase that we saved. Besides I doubt we can recover our Bitcoin wallet.

A wallet seed phrase or private key is key for your wallet recovery. If you have it, you can recover your wallet any time.

Another method is you will need a wallet file in backup and if it is an encrypted file, you will need a password to decrypt it and access your wallet private keys and bitcoins.

Quote from: tbct_mt2 on December 05, 2023, 09:38:14 AM

I really support your opinion regarding basic newbie matters. Know and be able to operate a Cryptocurrency wallet. Because it is very important for newbies to save their assets.

Before they can trade, they must have ability to store their bitcoin or cryptocurrencies safely. Because the advice is always "Don't use all money for trading" so the part is not used for trading, must be stored safely and not on centralized exchanges. People have to be able to secure their own wallets.

Quote

Trading, I think a good and safe thing for newbies is investment compared to trading. Trading is high risk, but also high return. Considering the volatile movement of crypto, trading carried out by newbies without experience and knowledge can result in big losses and potentially gambling.

Trading is risky and I really believe that hope to get rich with trading will cause massive loss. With trading, you can win big then lose big and you will need a lot of time to master trading and control your trading decisions.

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Quote from: traderethereum on December 09, 2023, 12:47:04 PM

Quote from: Myleschetty on December 08, 2023, 05:59:00 PM

Quote from: traderethereum on December 08, 2023, 09:05:17 AM

There is a lot to learn for someone who wants to have crypto market analysis skills. And it's not as easy as they imagine because most of them will stop in the middle of the road and many won't even be able to carry it out.

Agree with what you said but something good doesn't always come easy and it's better to bear with the hardness of having the rightful knowledge in crypto trading than be lazy and lose money in almost every trading which is the exact reason we see the stats of traders that quit trading to be higher than those that keep trading.

Good things often come with difficulty and that is where the challenge lies for us. If we are able to get through it, we can definitely get or achieve what we want.
But if we don't want to or are lazy, we won't get anything and we might even lose the money.
In crypto trading, we are required always to learn to analyze because the crypto market is always changing. And if we are not willing to learn more, we will find it difficult to profit from trading. We also definitely don't want to accept continuous losses, so we must be able to learn from many sources so we can improve our analytical skills.

Yeah, no one gets easy there's a sacrifice and devotion of time to analyzing the market. However, profit-making in crypto trading doesn't solely depend on knowledge trading and constant research about the market.
Crypto is not for everyone and if someone whose trading is not his thing trades with adequate knowledge he will still make a loss in the end.

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Quote from: Myleschetty on December 08, 2023, 05:59:00 PM

Quote from: traderethereum on December 08, 2023, 09:05:17 AM

There is a lot to learn for someone who wants to have crypto market analysis skills. And it's not as easy as they imagine because most of them will stop in the middle of the road and many won't even be able to carry it out.

Agree with what you said but something good doesn't always come easy and it's better to bear with the hardness of having the rightful knowledge in crypto trading than be lazy and lose money in almost every trading which is the exact reason we see the stats of traders that quit trading to be higher than those that keep trading.

Good things often come with difficulty and that is where the challenge lies for us. If we are able to get through it, we can definitely get or achieve what we want.
But if we don't want to or are lazy, we won't get anything and we might even lose the money.
In crypto trading, we are required always to learn to analyze because the crypto market is always changing. And if we are not willing to learn more, we will find it difficult to profit from trading. We also definitely don't want to accept continuous losses, so we must be able to learn from many sources so we can improve our analytical skills.

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Quote from: AakZaki on December 09, 2023, 11:58:48 AM

Quote from: terrific on December 07, 2023, 03:59:39 PM

And just expect that you'll get to learn from your mistakes as a newbie, that's the essence of starting this market.
Don't expect that you'll have a lot to get when you start because that's how it goes, you're not the best when beginning.
But if you persist and stay and apply all of those lessons you get from being newbie, it might be worth it.

being a beginner will make a good experience for trading. because no one can learn quickly without having bad experiences when starting trading. The error that occurs will be a task that must be completed and a solution to the problem will be found. This allows beginners to continue learning. I also experienced the same thing and in fact everyone else did too. From beginner to become a professional if they remain diligent in learning how to optimize trading knowledge.

Basically trading is very difficult, not everyone can get involved in this field and maybe only some of them have a warrior spirit and strong mentality that can go through all the processes they will experience. Achieving profits in trading is not as easy as turning your palm, you really need experience and very good skills but on the other hand it is not easy to get such knowledge and you will only be able to get all of that from the experience of the failures you have experienced.

That is why traders need a long time to be able to master everything until they can get a fairly consistent profit, therefore every trader must have a strong mentality because the risk of loss can never be avoided and one that can minimize losses so that they are not too significant is to continue to learn from mistakes to be able to develop skills and insights. I think all traders will definitely experience something like this in the initial process of their approach and to determine whether they will be able to become successful traders or not it returns to themselves, if they always work hard and never give up then I think there is success waiting for them ahead.

Nrcewker

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A newbie should give time to the market according to me. I have often seen people have a misconception that trading means quick and easy money overnight. But that’s completely wrong. The amount of money that you will make from trading completely depends on the risk that you are willing to take. But as you are a newbie, hence it’s advised to take less risk and get familiar with the market. Once you gain enough experience try different strategies and make desired amount of money.

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Quote from: Bitcoinpoly on December 05, 2023, 07:07:39 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❤️

Market is always volatile we can never say that may be it is stable. Because every new day there is some dump comes in any coin which were waiting for a long even. But the problem is why people love to invest more in volatile coins?

Also there are many other coins which can be bought for the better trades but that should be on the right way I mean not having too much volatility in the coin otherwise there will be more risk.

Topic: Trading advice for newbies - page 3. (Read 981 times)