Trading advice for newbies - page 6.

peter0425

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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.

gambling and trading never be the same but they are both risky and can make you a loser together.
gamble never but try to trade of course for the best finding luck.

Quote

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.

the greedy part is what made that more responsible because even how good you followed the first 3 but when you become greedy then you will also a loser.

Quote

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❤️

copy trading is not that easy because not all the time those traders will have good faith and luck in their speculations.

fauzan Ichsan

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Overall, the main thing that must be studied is the psychology of trading, where this point is the biggest determinant in making a profit. Next there is money management, where we must be able to manage our financial capital so that it remains safe and fits a logical portfolio. After that there is technical analysis, where we must be able to read charts to predict future possibilities so we can make transactions

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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.

Yes, both are quite risky but trading and gambling activities have differences and you cannot possibly be involved in trading just to expect luck. Beginners are advised to learn first before being involved because they talk about risk behavior that needs to be minimized.

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

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.

Not having skills will be quite difficult to develop trading because we don't know how to do it, for beginners not at the stages of profits that need to be considered first, but how to deal with the risk of loss. Trading is uncertain because we can lose and profit in a quick time depending on the moment of the coins we trade. You can use what trading models are provided and can be responsible when you run it and if your experience is good, the results will also be more satisfying.

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Quote from: Oshosondy on December 05, 2023, 07:24:53 AM

Crypto trading is different from gambling but they are of both high risk.

Trading = highly risky
Gambling = highly risky

As you can lose in trading, so can you lose in gambling.
-snip-

It also depends on what type of trading is used.

Spot Trading = Risk of Losing Value Due to Fluctuations, Still safe enough to hold.
Trading Futures = Very risky because if the prediction is wrong it will be liquid
Gambling = Very risky, beginners or professionals are no guarantees, relying only on luck.

Although professional traders, they will also get losses even 95% of day traders are very losers, and only 5% get regular profits.

The safest is Holding, just buy and hold, then sell according to the specified price target.

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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.

One of the most important reminder, many newbies in trading is expecting a huge profit right away, and they have mo satisfaction if they earn and wanting more resulting unwanted happening, remember profit is profit no matter what amount it is small or big, its better to earn than to lose right? So be satisfied, but if you know your trade will succeed or you are aure about your trade then go long, but if not then don't expect a huge profit as it may cost you much.

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

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❤️

Although copy trading is an option there are still things need to be considered in this, one is the equity of your account if the equity of your account has a huge gap between the trader you are copying then it will also cost you as your copying might set a big margin and he do that because he has a huge equity then if that happens your equity can't take it and your equity might liquefied. Trading is a continuous learning even the expert traders often experience loss trade but they can manage as it is part of the trading, it matters on how will you manage your money and how well you can handle the setbacks.

stadus

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My greatest advice in this market is learn to be patient as much as you can. There is no shortcut to success, so always chose to take a harder and tougher way at first so you can see the sweet fruit of your labor in the end. In life, learning takes a lot of time and even requires a lot of experiences before you will be able to learn, same what we should do in this crypto market.

Learning takes a lot of time so you have to be patient and calm as much as possible. And don't be greedy for quick and immediate profits, but always seek the long term profits that will give you satisfying results and profitability.

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

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.

Obviously trading is risky if a beginner does not manage risks well then he will lose a lot of money when trading, so a beginner must really learn and continue to learn because that is the skill that a beginner will have when he is able to learn well.

Quote from: Hamza2424 on December 05, 2023, 12:28:56 PM

Hmm, OP seems like you are quite experienced in trading, are you? TBH, trading is not a game like gambling where you can lose and earn, here in trading there are potential risks but with the proper strategy and dedication towards trading skills and risk management, trading can be a full-time career.

Yes, it looks like he has experience in trading, but I see from his neutral tag that it leads to Bitget spam posts that he tags.

Once again trading and gambling are clearly different, gambling only relies on luck while trading requires skill to 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❤️

I didn't see patience in the list like for example when you take a trade and you trust your analysis or strategy and the market hasn't hit your stops yet and you pulled out, at the moment you pulled out the trade goes your way... And so when you see a trade you are sure of you start speculating without taking the trade still not cool so all this thing's Should be put in place. For a profitable journey.

ZAINmalik75

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

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❤️

So basically you are here to promote bitget, and it is not new I have seen many other people here promoting bitget or at least using the term bitget in their posts at least one time, and all they have to do is link bitget with the context of the post. I got it, you want to promote it, but I will suggest doing it the right way, initializing a signature or any other campaigns via campaign managers. That way you will get good results.
Other than this, what good in it for you if you are not a team member of Bitget, I can assume you must be hired by them! to make posts on Bitcointalk, I wonder how much money they will be giving to you people. I am not against it but I just say if you want to do it then do it the right way.

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Quote from: Abu-Naim on December 05, 2023, 01:59:42 PM

Slow and steady wins the race every time. Trading and gambling are two distinct activities that share certain similarities and differences.
Both are very risky.
Both provide a profit and both have the potential to lose money.

The primary distinction is that in gambling, once you stake a game, that money is either gone or will return profit, however in trading, you can see what you bought unless it's feature trading, which is quite similar to gambling.

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.

These factors are highly significant and are the basic pillars of trade; nevertheless, they are not always simple to keep; however, if they can be kept, there will be no problems in the trading journey.

Yes, this isnt a sprint but rather it would be a marathon. You might really be that slow but with the steps that you are making then it is really that much more better compared into those people who are really that
making those fast trades without even trying to think that it cant really be just that so easy on having that kind of approach. You are really that prone to mistakes whenever you do make out those rush
trading because you are really that comes after with profits on short time period then you are really just that putting yourself on such hard situation because you are really that making tons of mistakes
and errors since you cant really be able to think up clearly just because you are in a rush on seeing profits on which this could really affect your overall efficiency when it comes on making your
trading analysis. This is why it would be better to be slow but having that kind of sureness on every move that you would be making.

Abu-Naim

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Slow and steady wins the race every time. Trading and gambling are two distinct activities that share certain similarities and differences.
Both are very risky.
Both provide a profit and both have the potential to lose money.

The primary distinction is that in gambling, once you stake a game, that money is either gone or will return profit, however in trading, you can see what you bought unless it's feature trading, which is quite similar to gambling.

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.

These factors are highly significant and are the basic pillars of trade; nevertheless, they are not always simple to keep; however, if they can be kept, there will be no problems in the trading journey.

Rruchi man

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Another trading advice?

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

1. Learn about the volatile market
2. Learn how to analyze chart

This two are the same to me. Trading involves a lot of learning from when you are new to when you become older in trading. When new it requires learning, when old it requires a lot of unlearning and relearning. Learning never stops.

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

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

Take your time, but not too much time. Trying to get everything right before starting to trade can take forever, you will never learn some things if you do not trade live on the market.

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.

Take profit, but not too early and not too late.

alastantiger

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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.

As a newbie to trading all of your energies should be focused on learning and not on when you will make your first one thousand dollars. I often see newbies are so eager to make money from trading that they skip the most basic and foundational principles of trading. You would save yourself from depression that comes from losing money because you didn't set a stop loss. Dear newbies, the stop loss is there to save you and you should learn how to use it effectively. Using it effectively means not just to set it and go to bed but to be present in the trade even after you have set it.

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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.

lombok

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

recover a wallet.

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

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

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 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.

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.

Hamza2424

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Hmm, OP seems like you are quite experienced in trading, are you? TBH, trading is not a game like gambling where you can lose and earn, here in trading there are potential risks but with the proper strategy and dedication towards trading skills and risk management, trading can be a full-time career.

My advice to the newbies is only, to stay consistent follow disciple dont be greedy hold your patience level, and always test yourself with new experiences because the market will test you every time. Dont be an emotional fool. Strictly follow the analysis of the way to control your emotions. Here I wrote just and covered most of the things but all fall in the same category called decipline.

Essential10

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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.

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

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.

I feel that it is an indirect promotion of Bitget. Whatever the reason, copy trading does not mean that you will make free profits. Copy trading is the laziness of many beginners because they believe that there is someone who has the knowledge and time to be successful in trading and then he will share this information with you to make you rich.
Learning to trade may not make you profits, but at least you know what you are doing and long-term trading does not require any knowledge.

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

3. Take your time to practice demo trading before

If you must know how to trade avoid Demo is a waste of time and energy why because when trading with demo you have this full confidence you can trade with real account without knowing is just like someone looking himself on the mirror. Demo has deceived lots of people and when they went ahead to fund their account they ended up sweeping it within some space of time without knowing the demo is their point of failure, my advice is as newbies try at least to fund your real account with $10 to $50 if you must learn very fast and learn with real account also gives you the bold step to withstand pressure and lost otherwise if you focused on Demo and then start using real account just that day or that week you would developed a serious health problem due to the effect of your lost.

gunhell16

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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❤️

"Learn to analyze the chart." That's a broad topic, dude. I have a question for you, dude: is it easy to analyze a trading chart? Do you know what the two types of chart analysis are?

Are there any patterns to use to analyze a chart? For me, the information you are giving here is lacking. Yes, what you mentioned is correct; that's why I'm lacking. Newbies who come here for the first time on our forum platform will not understand that. Maybe I'm just advising you, dude. Next time you do these kinds of topics in detail, I'm just advising you on this. Thank you

Topic: Trading advice for newbies - page 6. (Read 981 times)