Trading as a newbie? - page 11. | Bitcointalksearch.org

monineklutak

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Quote from: cozytrade on January 21, 2023, 07:31:05 PM

Quote from: greengrassis on January 17, 2023, 12:53:59 PM

I believe that one of the most important stages for a beginner is training. This is something that is really worth paying enough attention to. Without this, the result can be somewhat frustrating.

Yes I think so. If you are trying to learn something new then you need to focus well first. And if you can't focus well then it will take you a long time to learn that task and what you are not good at. Can't gain experience. So I think we should always think carefully and then start any work with a decision.

Right and I think in any case the focus is always an important thing to pay attention to,
sometimes people forget that and when we focus on learning something new it will at least make it easy for us to learn it,
Before making a decision, it is very important to consider it first.

autumnleaf

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Do your own extensive research first, master the fundamentals, and start with a little amount to test your methods. Avoid mindlessly following others, and always trade only with money you can afford to lose because trading is a very dangerous gamble.

cozytrade

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Quote from: greengrassis on January 17, 2023, 12:53:59 PM

I believe that one of the most important stages for a beginner is training. This is something that is really worth paying enough attention to. Without this, the result can be somewhat frustrating.

Yes I think so. If you are trying to learn something new then you need to focus well first. And if you can't focus well then it will take you a long time to learn that task and what you are not good at. Can't gain experience. So I think we should always think carefully and then start any work with a decision.

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Quote from: Inwestour on January 21, 2023, 07:53:01 AM

Quote from: rozak on January 21, 2023, 01:12:19 AM

buying and selling coins is something that can be easy for beginners to learn. but some things are more difficult for novice traders to learn, market analysis and analysis of choosing the right assets to trade. maybe beginners will do better with spot trading which has a long time plan. because day trading doesn't seem so good for beginners.
most importantly, do it with small money first to hone skills and gain experience in trading.

Day trading can also be done on the spot. Yes, spot trading is a significant reduction in risk, but still it is not a panacea that can solve all the problems of beginners. The biggest mistake is to start selling at a loss, afraid that the price will not fall further.

Market analysis is also very good, but it is not always possible to correctly interpret what we see, and besides, it almost always gives us two or more possible scenarios. Now, when the whole market is going up, it may seem to a beginner that he understood something in trading, but as soon as everything turns down to a correction, everything will change.

But beginners can understand from spot trading rather than futures it would be better to start from the spot. We look at doing analysis openly and slowly, because of course beginners need a lot of time to do that, from all that he has experienced, for example, with losses, it's only natural mentally prepared he should be able to do that better than his previous mistakes.

The simplest thing is to target profits and don't become day trading for profit, just buy a better coin, wait a few days for this coin to go up, if it is possible to change to an increase then you can sell it, I think beginners should try with a pattern that he understands.

LUCKMCFLY

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Trading as a novice is pretty much making moves by chance and because you think it's going to happen for no reason, or because you think the move will somehow just because you think the pattern has to look like something, I think novice traders also believe In these things they can fall that only handling some things such as technical analysis with some tools can solve everything and it is not like that, coercing as a novice is like entering a casino to do gambling, because everything is left to chance and that means that you cannot even read the volume when it is so important in trading.

Inwestour

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Quote from: rozak on January 21, 2023, 01:12:19 AM

buying and selling coins is something that can be easy for beginners to learn. but some things are more difficult for novice traders to learn, market analysis and analysis of choosing the right assets to trade. maybe beginners will do better with spot trading which has a long time plan. because day trading doesn't seem so good for beginners.
most importantly, do it with small money first to hone skills and gain experience in trading.

Day trading can also be done on the spot. Yes, spot trading is a significant reduction in risk, but still it is not a panacea that can solve all the problems of beginners. The biggest mistake is to start selling at a loss, afraid that the price will not fall further.

Market analysis is also very good, but it is not always possible to correctly interpret what we see, and besides, it almost always gives us two or more possible scenarios. Now, when the whole market is going up, it may seem to a beginner that he understood something in trading, but as soon as everything turns down to a correction, everything will change.

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Quote from: Patrol69 on January 21, 2023, 01:06:04 AM

Since you said you are brand new to trading then you should know trading well first. First of all you will find a lot of related information on various social media where trading is discussed very nicely. If you don't have a complete understanding of trading then surely you can face losses while trading. Because there is a lot of risk in trading. You must decide on the matter after considering the overall situation.
But first of all you have to make an account with any exchange to trade. After opening the account, deposit the amount of money you can afford or the amount you want to trade with in that account. After making a deposit, you will buy some of the coins you like when the price drops significantly or when you feel that it is profitable to buy these coins now. After buying, when the market is positive, you can sell your coins for some profit if you want. That's how you can start trading.

buying and selling coins is something that can be easy for beginners to learn. but some things are more difficult for novice traders to learn, market analysis and analysis of choosing the right assets to trade. maybe beginners will do better with spot trading which has a long time plan. because day trading doesn't seem so good for beginners.
most importantly, do it with small money first to hone skills and gain experience in trading.

Patrol69

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Since you said you are brand new to trading then you should know trading well first. First of all you will find a lot of related information on various social media where trading is discussed very nicely. If you don't have a complete understanding of trading then surely you can face losses while trading. Because there is a lot of risk in trading. You must decide on the matter after considering the overall situation.
But first of all you have to make an account with any exchange to trade. After opening the account, deposit the amount of money you can afford or the amount you want to trade with in that account. After making a deposit, you will buy some of the coins you like when the price drops significantly or when you feel that it is profitable to buy these coins now. After buying, when the market is positive, you can sell your coins for some profit if you want. That's how you can start trading.

Hypnosis00

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Quote from: Pamadar on January 20, 2023, 04:50:52 PM

It's better to use small amount of starting capital, amount that you can afford to lose when you are starting in this business, it's true that the value of learning is more important when you are a beginner.

It's tough to use huge amount and mistakenly position your trade as the chance of losing is very possible
at the beginning, unlike when you already gained knowledge that you can use, the chance of making decent
amount of profits is very possible.

Besides, earning huge is possible when we already have deep knowledge about trading. Those who are in hurry usually got failed and lose their money. Putting a small amount while we are still learning is good enough to have more experience and it was not hurt to feel if ever we lose. For me, $100 is good enough, not that small but not also huge to lose if we got mistakes. So instead of thinking about earning quickly, we better focus first on how to adapt to the situation and enhance our knowledge and skills as they are the tools that could help us to grow. Because it makes no sense if we do trading and use huge amounts but in the end, we lose them all, and we only got disappointed.

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Quote from: nurilham on January 20, 2023, 04:47:41 PM

Quote from: cozytrade on January 19, 2023, 09:49:15 PM

Because newbie who don't know about trade if he wants to learn trade with big money then he will lose all his money. Newbie who want to learn trade in first stage advice from those who have good knowledge about trade. He should start trading in the first position. If he trades like this for a few days, he will gradually have a good knowledge about the trade, after which he will be able to trade alone when he understands.

Indeed. Newbies must focus on learning, their main goal is to get enough knowledge and experience. Newbies must avoid prioritizing profits in the early of their trading journey. If they focus on profits, they can't focus on learning and they may end up with huge losses. Newbies also don't use big money in early trading, just use small money to avoid big losses. They can use a bigger amount of money when they already have enough knowledge and experience. At least, it should take for a few months to have sufficient knowledge and experience.

It's better to use small amount of starting capital, amount that you can afford to lose when you are starting in this business, it's true that the value of learning is more important when you are a beginner.

It's tough to use huge amount and mistakenly position your trade as the chance of losing is very possible
at the beginning, unlike when you already gained knowledge that you can use, the chance of making decent
amount of profits is very possible.

nurilham

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Quote from: cozytrade on January 19, 2023, 09:49:15 PM

Because newbie who don't know about trade if he wants to learn trade with big money then he will lose all his money. Newbie who want to learn trade in first stage advice from those who have good knowledge about trade. He should start trading in the first position. If he trades like this for a few days, he will gradually have a good knowledge about the trade, after which he will be able to trade alone when he understands.

Indeed. Newbies must focus on learning, their main goal is to get enough knowledge and experience. Newbies must avoid prioritizing profits in the early of their trading journey. If they focus on profits, they can't focus on learning and they may end up with huge losses. Newbies also don't use big money in early trading, just use small money to avoid big losses. They can use a bigger amount of money when they already have enough knowledge and experience. At least, it should take for a few months to have sufficient knowledge and experience.

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The discussions here are most eye-opening

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Quote from: GeorgeJohn on January 15, 2023, 11:32:32 PM

Quote from: JamesDaniel90 on January 06, 2023, 04:38:43 AM

I have only started with $50 as a test - I made my first trade last night after buying LCX last week at $0.033 I sold at $0.045.

This is a 36% gain which is a pretty good start, now I will wait and have a look around to see what is badly down later and buy in when I feel there is a likely pump coming.

LCX reached $0.055 last night so this is a 67% increase from where I bought only a week ago so makes me realize there is money to be made in this bear market.

What i want to say in a nutshell is that, trading is something i believe that have to do with experience, and it's only the experience person knows all about trading and can actually make a profit it's indicators, so i don't really know or understand the basic things that concerns trading. Before someone can make a profit in trading you most at least understand that trading have that trading have rudiments before someone can make a potential profit you most at least understand it's futures.

It's true, with more experience you end up being a lot more fun and a lot better at what you do, it's literally becoming like a hobby the more money you make. I know it is not common for people to have trading as a hobby because it is regarding financial situation. But, if you are trading with money that you do not initially need, then you will not care about it like it's life or death.

You will have a job that gives you a salary, and the trading will be a separate thing and you will do it like a fun hobby. I have turned out to be like that after 5+ years and I am having a blast when trading, it definitely helps me make a lot more money this way for sure.

DanWalker

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Quote from: JamesDaniel90 on January 14, 2023, 06:10:56 AM

Update - currently up 110% since I started trading 9 days ago, just wish I had started with more but it is a learning game for me being very new to this.

I am only trading coins I am holding long term so if I do enter a trade and we crash then I am happy holding.

Have no idea how long this rally will last but its good to see green days as its been so long!

It sounds easy, but you need to be very careful and not get too greedy, the market can give you 110% profit but can also take all yours in one night. I just want to advise you: taking profits is never wrong.

Honestly, as a newbie, it is tough to make a profit with trading, what you need to do is minimize your loss and learn from it. Persevere and don't give up every time you lose, over time as you gain knowledge and experience, you will be able to recover those losses. As a newbie, aim low and account for the losses you face. Expectations that are too high will only make you more eager to make money and will lead to more mistakes.

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Quote from: JamesDaniel90 on January 05, 2023, 06:10:08 PM

I am thinking of buying coins that are 15% or more down and then selling once they pump 10% and move onto the next one that is 15% down and then again sell at 10% profit and just keep repeating.

It would be great if what you expected really happen for real, unfortunately you can't expect things to go as planned because it's not that easy. Some coins that are currently down and you think a good one to invest in can't recover back anymore for a certain reason.

That's why many traders failed to profit because the market is unpredicted even they already have experience and more knowledgeable of what they're doing. So if you want to be a trader have your own analysis and strategy, don't use a capital that you can't afford to lose since the outcome is uncertain.

cozytrade

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Quote from: Bitcoin_people on January 17, 2023, 08:51:51 AM

Since we don't understand trending very well, we are completely new users. So I think that the newbies should not trade without knowing about the market at present. It is seen that if you invest without knowing anything, it is normal to face loss. It is a good decision for beginners to start investing with as little money as possible and trade the market with the advice of a good investor.

Yes I agree with your decision. Because newbie who don't know about trade if he wants to learn trade with big money then he will lose all his money. Newbie who want to learn trade in first stage advice from those who have good knowledge about trade. He should start trading in the first position. If he trades like this for a few days, he will gradually have a good knowledge about the trade, after which he will be able to trade alone when he understands.

lalabotax

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Quote from: Pandu Geddon on January 15, 2023, 09:54:23 AM

especially if they first see trading videos on youtube. it sure looks very easy to get profit.
hopefully, the OP will come up with a better way of trading. this will probably take quite a while. because trading is not going to be easy to learn in a short time.

Indeed, when we are watching the video, it seems easy. But, when we are, I am trying to do it, it suddenly feels like trading activities are something that is very difficult, It's mind-numbing, it's emotionally draining, it's like pulling strings, so many people fail or can't cope with trading activities because of these pressures. However, for those who can enjoy the activities, and really appreciate them, it is not easy, it's very difficult but they are able to be consistent in doing it and earning money on it. It needs a hard effort to do, not as easy and soft as we watch. Cheesy

Obari

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Just as other users have adviced, I think you should get other source of income rather than hoping on trading now since you're still very new on the space and trading business. I would also advice that you take your time to first learn the basis of trading from reputable traders and also watch more of YouTube videos as well as tutorials and don't be too quick to jump into the real world of trading but first you should do more of practice with the demo account provided by any preferable broker you might choose and get more familiar with them before depositing and always remember that trading is risky and you shouldn't use borrowed money or money you can't afford to lose.

martyns

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Trading is something complicated,and it's not adviceable to just jump into it,it is good to make research,ask questions,and bare in mind that anything can happen along the line.It is a two way thing,either you gain or lose,but when one loses,it is good to be matured and know that loosing is part of winning.You must loose for you to win in future,Always know that loosing gives you experience,and those experiences gives you the answer to your present problem.

tygeade

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Quote from: JamesDaniel90 on January 18, 2023, 06:58:14 AM

Update - now 145% up since I started 2 weeks ago thanks to the Shiba Inu pump this morning.

I am now in Gala and waiting for that to pump to close my next trade.

I know the market can crash at anytime but like I said before I am only investing in crypto I am also holding long term so don't feel too much risk.

Had I started with $1000 I would now be up to $2450 which has opened my eyes to trading.

It's surprising that Shib is still alive but I think you are only lucky there so don't get carried away and stay on that coin. Remember there are still better coins out there which can give you more guarantees of earning a profit. For your second coin, Gala. I have a confidence with this one so you can stick with it.

We are now on our way to the bull run so I don't think the market can crash anytime soon but crap coins are the only ones who can crash at this point so you better be extra careful with your picks even if you say that you are mainly a long term investor. Congrats about the profit that you built during the 2 weeks of trading. I hope you will stay humble and stick within your limits only.

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