Trading advice for newbies - page 4.

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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.

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The most important thing in trading is patience. Trading must be done with patience. Those who do not trade patiently. They can't benefit from much training if they are in too much of a hurry to trade. Long term trading should be done. Trading should not be too hasty. In the case of trading, you have to have a long-term plan, otherwise good success will not come.

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Quote from: tygeade on December 08, 2023, 03:11:43 PM

Quote from: pusaka on December 07, 2023, 09:19:40 AM

one thing I would like to add is that in trading practice is harder than theory, yes maybe we understand if we only theorize, but if we do it then it will be more difficult than what is imagined. My advice, when learning about trading then we can directly practice with a demo account.
The problem is not just there, when using a demo account then we will be able to analyze well, but when we are already in trading with real money then believe me it also becomes something difficult. The reason is quite basic, which lies in the mentality. Yes, in a demo account we will not receive pressure, because losing or winning the money we use is not real, but when we use real money then the pressure will affect our mentality.

That part is the most important part there is. There are way too many people who are wrong when they do something like that, and yet they keep on working on paper, and keep trying to get better, and assume that when they start trading they will be good.

The reality is that, if you start trading right away without learning anything then you will be terrible, if you end up learning a lot but do not trade then you will not be good neither. So the assumption is that you need to end up trading, and then you need to end up with something better as well, it should be important. I think if you learn first, then be bad trader for a while and gain experience, eventually you will keep getting better because you know what you should do.

Those do come in hand in hand together, you need to do both in order to get better. However, you also shouldn't stop learning and studying and reading up on trading just because you have been trading for a while and you think you gained enough experience.

This isn't some market that you end up learning it all, it is ever evolving, one thing that works today may not work 10 years down the line, so you should keep up with the times and see what people are doing or investing into, that's an important part of investment world, obviously we are talking about a situation that may take some time, because you are both working a regular job, also trading, and you need to study trading and all these combined leaves very few hours a day for you, maybe not even that much on busy days.

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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❤️

Option 2 is one of the greatest aspect of trading that every trader must get accustomed to as a newbie it's going to take a very long period of charting time to able to grasp almost all the concept of candlestick patterns and Price Action when analyzing a chart without it I don't think any trader can have an edge over the market.
Option 1 a trader must take profit at the appropriate zone usually Resistance or Support else price reversal or pullback might occur instantly due to high volatility of the price especially cryptocurrencies thus it is mandatory to learn how to spot resistance and support zones.
Option 3 Truly it's advisable for newbies to start learning trading vis Demo or start with small fund just test your trading abilities

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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.

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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.

Unfortunately, Many newbies are misguided in managing their trading because of their high expectations of the expected results. Many newbies have just joined the crypto world and then buy crypto for trading, they hope that they will get high profits immediately. while they still don't understand the various steps. This is a pretty bad condition because it's just following.

And the problem is that sometimes they are still lazy to just read and prepare themselves well before trading. It doesn't matter how much advice and sharing of information like this has been done, but there are still many people who are misguided in starting their trading. Usually they only prioritize learning by doing. In fact, before that, you should be better prepared and better if you equip yourself with sufficient knowledge, then apply it by starting with a small nominal amount or learning through a demo account.

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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❤️

These tips are actually the basics in trading. Any beginner who wishes to enter trading is supposed to know about this already before deciding to trade. Otherwise, they will end up losing all their capital and end up wasting their time as well. That's the disadvantages when one newbie decides to enter trading even if he's not entirely ready for it.

One thing I will add is never expect profitable trades every time you trade. Trading can still be unpredictable even for those professional traders in the market, that's why they are still susceptible from losses in trading. So how much more for beginners who have less to show in the market, and are still fearful on how their trades will end up.

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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❤️

Trading might not be safe for newbies because of the risk it brings. But if these newbies will insist to do trading, then their money, their rules. And they should expect more losses than gains, even professional traders still fall on losses. But still this is not enough reason to easily quit from trading, just continue to trade and always chose to stay patient and positive regardless of the inevitable losses that newbies may encounter.

Trading losses are the best way to learn in trading. With that, you will dare to improve your trading skills and strategies so you won't be losing a lot and won't do the same mistakes again that will make you feel less being a trader.

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Newbies must take time to learn before trading rather than rushing and then suffering terrible losses afterward. Many starters do like this way and they are now complaining and asking why, yet they never know the answer that was because they are not yet good at trading, and not even familiar with the market but they have been forced to trade and assume that they will earn a profit instantly.

A reason why newbies must take a prior to learning first before trading. There is a time for real trading anyway and that time will come when we are totally ready, not just because we have money.

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

Quote from: Questat on December 07, 2023, 07:02:00 AM

Quote from: terrific on December 06, 2023, 04:34:19 PM

All of those are needed to take on this market because this how it goes. And taking your time is a must because not everyone starts perfectly.
There could be some mistakes that you'll commit when you trade actually and that's not going to be enough for you to be honest if you want to become a real trader today.
Patience is needed on this and when you don't have one, better to skip this market and leave.

We all came from being a newbie before we discovered things and gained ideas from our bad and good trader experiences. We make mistakes, suffer losses, and earn some, that was our life before but even today, losses are still somewhat possible. As newbies, we never expect to earn a profit easily nor do we think that we could learn today and become good by tomorrow because it takes time to become fully knowledgeable about trading. In fact, every trade is a learning, everything we do has something it returns not just profit but also ideas.

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.

Mistakes are very natural, and it is the daily food of beginners, it doesn't matter because all traders also experience the same thing in the process of their approach to this trading world and maybe there are even some who have lost a considerable amount at the beginning of their journey, it's all natural and the question is whether you can learn from mistakes to get better or you will prefer to leave and become a loser because you are afraid to face situations and conditions like that again? Aren't many successful people born from a failure that they turned into a success? Of course, most people do the same thing in the process and maybe in quite different ways.

So the point is that losses are natural because logically the name of trading must have profit and loss, but after you make a loss a valuable lesson and change the way you do it for the better then believe me the ease you will find over time, the struggle will always be at the beginning and all that requires sacrifice, it doesn't matter as long as you come with strong intentions and earnestly.

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Quote from: pusaka on December 07, 2023, 09:19:40 AM

one thing I would like to add is that in trading practice is harder than theory, yes maybe we understand if we only theorize, but if we do it then it will be more difficult than what is imagined. My advice, when learning about trading then we can directly practice with a demo account.
The problem is not just there, when using a demo account then we will be able to analyze well, but when we are already in trading with real money then believe me it also becomes something difficult. The reason is quite basic, which lies in the mentality. Yes, in a demo account we will not receive pressure, because losing or winning the money we use is not real, but when we use real money then the pressure will affect our mentality.

That part is the most important part there is. There are way too many people who are wrong when they do something like that, and yet they keep on working on paper, and keep trying to get better, and assume that when they start trading they will be good.

The reality is that, if you start trading right away without learning anything then you will be terrible, if you end up learning a lot but do not trade then you will not be good neither. So the assumption is that you need to end up trading, and then you need to end up with something better as well, it should be important. I think if you learn first, then be bad trader for a while and gain experience, eventually you will keep getting better because you know what you should do.

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Quote from: 2Pizza410000BTC on December 08, 2023, 10:30:08 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.

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❤️

All the points mentioned by you must be followed before the newbies come to the trading platform. As such, a new trader must know about market volatility. If a new trader is not aware of the volatility of the market, he will never be successful in trading. And especially never be greedy in the trading platform whenever a person is too greedy in the trading platform then that person will definitely suffer in the trading platform. So I would say to the new traders, you must avoid greed before trading platform, never be too greedy. In the trading platform especially if these two things can be followed then surely a person can achieve success from the trading platform.

As a trader we need to know what we are doing so that we can make reasonable profits from the market.
There earr people that are in the market to just make profits and for us to achieve this, we have to make sure that try and gain more knowledge about the market so that we are not going to keep depending on the outdated knowledge that we have because the market keep changing everytime. This is why most time trading patterns do not always work so we need to improve and learn more things about the market so that we can keep making consistent profits.

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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❤️

All the points mentioned by you must be followed before the newbies come to the trading platform. As such, a new trader must know about market volatility. If a new trader is not aware of the volatility of the market, he will never be successful in trading. And especially never be greedy in the trading platform whenever a person is too greedy in the trading platform then that person will definitely suffer in the trading platform. So I would say to the new traders, you must avoid greed before trading platform, never be too greedy. In the trading platform especially if these two things can be followed then surely a person can achieve success from the trading platform.

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Quote from: Rockstarguy on December 07, 2023, 08:35:22 AM

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

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.

Want thing about trading is that their is no shortcut about it to earn money, trading is a skill that requires good attention that people needs to follow it accordingly. Any little mistakes in trading can result to lose, their are a lot people needs to learn about trading. Trading is not what anyone can just enter the market and try to trade with mere understanding, instead it is what people needs to learn and be sure what they are doing when they enter the market.

Everything in trading requires learning even down to the character a trader needs to exhibit, it is also what people needs to learn too. If beginners enters the market with a mindset of get rich quick, it is just an easy way to lost all they have. Trading doesn't make people to be rich quick, trading is just a skill that generate profits for traders and be understood well.

Trading requires a step by step process to follow, and one should take time learning through it. However, I see newbies jumping into trading without sufficient knowledge and skills, and have no experiences in the trading market, and end up with an expected outcome, that is losing all their funds. That is the reason why greed should never motivate traders to trade immediately for quick profits, because the result will always be negative.

Good thing trading can be learned in time. If you lose in your initial trades, that's okay because that is a sign that you are going to learn from it as well. But if you consistently lose and never makes any chances of getting profits, probably you are doing the wrong thing in trading, or you're not really meant to trade but only good for long term hodling.

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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.
They then look for trading groups and hope to get trading signals so they don't need to analyze themselves and can immediately buy and sell their coins.
But those who are still willing to learn from various sources will have good trading skills so they will only depend on people if they have knowledge that can be used and they can also improve their abilities.
They will also always practice what they gain from their learning so that it can help them gain profits. Getting big profits is only a matter of time because the most important thing is how someone can have good trading skills.

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Quote from: mirakal on December 06, 2023, 09:00:37 AM

The difference between trading and gambling is that trading makes you earn profits, while gambling makes you lose your capital most of the time. So for obvious reason, trading becomes more profitable if you have the knowledge and skills to trade, and with helpful strategies that will make your trades work and profit.

Being greedy is part of a trader, as well as being emotional. But if you are determined to win your trades and stay off from losses, then discipline yourself by not being greedy and emotional. If you can't get rid of them, then try to control them so you can still be more capable to end your trades with profits.

"Trading makes you earn profits" is a term I am not too sure about. Sure there are some people who make profit, but there are also a lot of people who lose money as well, that should be quite important. Remember, there are a lot of people in this world that ends up trading and not making any money anyhow. This is why it should be important to say that for "some" people in this world, gambling and trading are the same thing, they are going to lose their money in all of them, and they will not make any money at all.

The only difference is for a good trader, because a good trader will end up making money and that will be very important for them, it will be quite good to get those results without a doubt. I know that it will not be simple, but we could end up doing it one way or another, if we are careful with what we do, then we should be able to do it eventually. So it is not really a big deal, we just need to make sure that things are as good as it can get.

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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.

Knowledge about trading can help to minimize risk because you will choose that coin which can give you profit as choosing of asset depends on you whereas in gambling you don't know that your bet will be better or worse. Both are full of risk but trading can be less risky by choosing profitable coins. Better option for getting profit is investment but if someone want to trade then learn well otherwise your trade will not be different from gambling.

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

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.

Greedy people never get success in life but if situation is like this and you know that price will be going more higher then this is not a greed but it means that holder is following the prediction from experts. Now bitcoin price is 43k$ so nobody knows that future will be more productive or not therefore if someone wants to wait more until halving then i think it's not a greed because everyone wants an accurate timing for selling of their asset.

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Trading is not advisable for newbies, I'd rather recommend long term hodling than jumping trading wherein newbies have no learning experience from trading in the market. And when you are making significant profits from hodling, that's the time that you can proceed to trading but provided that your knowledge and skills for trading have already been enhanced and developed.

Newbies who resort into trading often lose a lot. That's because the greed is high for newbies, and they can't manage their emotions yet most especially that trading needs to get rid of that emotions to end up with successful trades.

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

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.

Newbies should strictly follow this and know that trading is not an easy market to deal with.
There's a lot of advices already for the inspiring traders and I'd hope that they are really reading this especially the comments from other users here who already know how to trade well and how to deal with the market. Beginners are emotionally not prepared, and this should be the first move for every beginners to train themselves not to be emotional especially on making their trading decisions.

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Quote from: Questat on December 07, 2023, 07:02:00 AM

Quote from: terrific on December 06, 2023, 04:34:19 PM

All of those are needed to take on this market because this how it goes. And taking your time is a must because not everyone starts perfectly.
There could be some mistakes that you'll commit when you trade actually and that's not going to be enough for you to be honest if you want to become a real trader today.
Patience is needed on this and when you don't have one, better to skip this market and leave.

We all came from being a newbie before we discovered things and gained ideas from our bad and good trader experiences. We make mistakes, suffer losses, and earn some, that was our life before but even today, losses are still somewhat possible. As newbies, we never expect to earn a profit easily nor do we think that we could learn today and become good by tomorrow because it takes time to become fully knowledgeable about trading. In fact, every trade is a learning, everything we do has something it returns not just profit but also ideas.

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.

Topic: Trading advice for newbies - page 4. (Read 981 times)