Topic: Trading as a newbie - advice? (Read 582 times)

Those three combined would be enough for anyone to be a great trader. Obviously there will always be a lot of people who are not going to do them properly. There will be people who either do not read about it, or watch about it, or not go into it with a mentor but instead read what an influencer wrote and just buy that and think that that's mentorship, it's not.

Those influencers get paid to share stuff, which means that they do not care if that token goes up or not, they take their money mostly in BNB, so they do not even accept the token they are suggesting you to buy. Hence, in the end we are talking about a situation where you are not going to end up profiting if you do not study. Or we also have type of people who study, but very short, like just a week or so, and think they are ready.

Trading as a newbie is certainly hard and even risky. Even if you’ve read books, articles, or watch videos, trading is always hard especially in the beginning but if you keep the experience and learn from it everytime you fail or lose, then eventually you’ll get better trading in the market along with time. That’s why when trading, reading is good but not actually beneficial because in the long run, experience will always matter the most and on how you deal with market changes and price volatility.

Books are good source to acquire knowledge and reading the theory is good practice. But the real pressure and experience one can feel when he tries trading himself. Trading is not as difficult as rocket science, but it’s not easy either. Since you are a beginner, I would advise you to use demo account to gain experience on trading. Keep tracks of the coins and their movements, see when they rise and when they fall and make notes and indicators accordingly. At last when you are ready, trade the amount that you can afford to lose.

I am not a very good trader either but I have also started to become a trader the same way you are mentioning. I believe our best teacher is experience. For a newbie, in addition to needing to prepare a minimum capital just for learning. I would like to add that when we start learning to trade, we should focus only on the knowledge and practice of that knowledge, not on profits. I mean, OP or any newbie should be prepared for losses in the early days of trading and need to accept those losses in a good mood. Only then can we truly be comfortable and focus fully on building our skills and experience.

I don't have any favorite books on trading, but I think the basic knowledge on youtube and our own experience will be enough for us to learn everything on our own.

Reading books and watching online tutorials, well, they are enough already to learn but it was much better to have a mentor that guides you for a few days in trading. If we have a friend who already has an experience in trading, we approach them and gain ideas. Because we can't be good enough in trading just having all of those stuff but having an experience would give us more learning and ideas. Generally, we usually got caught up in applying it in live trading, we usually fail because of our emotions.

I also read a lot of books, watched videos and even studied in VIP classes when I first entered the world of trading. But in the end the most valuable lessons are from our own experience in trading. So my advice would be better to prepare a small capital that is devoted to trading practices. So every thing you learn from reading books or from watching videos, it would be better if it was immediately practiced in real trading. Of course, it must be with small capital which is specifically for learning purposes only.

As for one books that I want to recommend maybe also been recommended by others. But these are one of good books to be learning materials to add insight before trading practice.

"Cryptocurrency Trading and Investing: Beginners Guide to Trading and Investing in Bitcoin, Alt Coins and ICOs for Profit" (Sourch)

Learning directly from someone is the best, when I started learning I wasn’t opportune to meet anyone, so I learn how to trade online, i had a horrible experience because I wasted a lot of money trying to learn how to trade, after finishing the money I had with me then, I gave up because I had nothing left with me, but immediately I got money again, I was pushed to go back to trading, which I wasted the money also, but I knew I was improving so I didn’t feel bad, but gradually I was improving and I started making money. If you are having someone to put you through, you won’t really be losing money compare to if you want to learn trading online.

If you are dedicated to learn how to trade, you can learn it by watching videos on YouTube, reading pdf books and other materials, but it won’t really be easy. You will be facing lots of challenges, because most of the videos you see on YouTube will only talk about the profit and they will never talk about when they lose, am sure that’s one of the challenges people learning how to trade through YouTube are having, they won’t know they can easily lose money through trading.

It's great to see you displaying your beginner's enthusiasm in trading. Starting trading in the bitcoin market as a total beginner can seem overwhelming, but there are steps you can follow to get started. To begin, familiarize yourself with fundamental trading concepts, market movements, and risk management measures. When you're ready, go with a renowned and user-friendly exchange such as Binance, Coinbase. These exchanges provide robust security measures as well as regulatory compliance. Bitget is another platform worth considering because it also provides a secure environment, a user-friendly interface, and regulatory compliance. Bitget also has copy trading tools, which let newbies to learn from expert traders. Remember to start with minimal deposits, use prudence, and learn and change your trading techniques on a regular basis.

I have this little and simple advise for every bitcoin traders to take cognisance of, trading is not what we dabble into without having the understanding of how to trade, the strategies in trading, types of trading a d the required indications for trading for better performance, when we lack the needed knowledge then trading will becomes difficult for us to achieve the maximum satisfaction from it because it will not work out the way we expected unless we engaged  it the right and proper way through learning and understanding of what trade is and how to trade with some experience.

I get your point and it's reality, trading is not as simple as many people think, there's always difficulties when you are
engaging yourself with positioning your trades.

But, same concepts with your statement even experienced traders can't guarantee that they can predict the next market movements.

They are still anticipating and hoping that based from the previous run it will turn to their anticipated position, but again there's
no one who can predict it accurately.

Trading right now is not easy for anyone, not for veterans and not for anyone else. I know that it is going to end up being a little difficult for veterans and very difficult for newbies as well, so there is a level of difficulty that will make a big difference. But at the end of the day, it is going to be still hard though, that's the thing.

We should not run away from being difficult, it should be a lot more difficult in the end. I believe that we are going to end up with some big changes one way or another. I know that it is going to be hard to decide on that, but we can make it work, just try to go at it and do not be afraid and yet try to make sure that you are also scared enough that you have answers when you need them.

Exactly, it's just terror if you say that learning to trade for newbies is something easy. Because even for those who are not newbies, trading is a difficult and complex matter. We are not only related to some basic things about crypto and trading, but also some other things like funds management, risk and also emotions. On the other hand, you must also have good knowledge, especially regarding how to read the market, analyze the market, the specific coins you want to trade, as well as strategies to anticipate markets that often change direction quickly and suddenly.

Not only with those trading knowledge but also getting some advises on which it would really be that helpful and would really be that relevant on which it would really be a good combination if you do really just know on what you are doing. Be sensible on what are the things that should supposed to be done since you are just newbie and starting up. It would really be that common sense that you should really be that
trying out to accumulate information as much as you can and other things could really be acquired through real experience.

This is why it would really be that wise that you should only make use of the amount which would be small and would be enough for you to lose and learn at the same time.
Stick into your method which it might be slow but it would be that sure. Its not that easy though because due to lack of knowledge it would really be making things
more challenging and hard.

For start trading at first need learn about cryptocurrency. Without learning about cryptocurrency anyone couldn’t gain from trading. Proper knowledge can give proper feedback i think. Without proper learning anyone couldn’t make good decision. So my advice to Newbie to start trading af first gather knowledge about trading. And you have to learn about technical analysis, fundamental annalists, money management, risk management etc. If you learn properly about this you will be profited form trading. So to start trading please gather knowledge about trading and cryptocurrency market.

This forum is indeed a good source of knowledge, though its also ok to try other platform when it comes to learning.
Having your hands-on experience in trading can also help, just try to focus on your goal and  if you really want to learn then be committed.
Trading for beginners are not easy, this can be challenging and stressful at the same time, but if you want to be more profitable in this market then sacrifice now and enjoy later.

Perhaps, there are a lot of trading tutorials available but the problem is the application that we made. Most of the time we just read and then forget it during the actual trade and this is due to the changing behavior of the market plus our emotions. Learning the basics is enough to start but having a long trade experience is the key to success. So as newbies, we never have to expect success right away because it was totally impossible as we don't just know how to trade but also knowing how to control our emotions because this is a big factor that would affect our trades.

Do not just focused on reading books but learn to explore the forum instead. Here, you will be inform a lot of trading experiences and how they succeed despite of its inevitable losses. You will definitely learn from all of their shared mistakes and losses to other members in the forum. And most importantly, experience trading every now and then even with small capital, let your application teach you about the dos and dont’s and not just by reading most of the time.

This is a good start for newbies that have friends that will mentor them as they start. But not everyone has got that friend who will help them along their trading ways.

While there's an option to those who are looking to be mentored. The hard part is to look for the one that actually is a good mentor and usually they come with a fee.

Nonetheless, not all that are paid are good ones to hire as your mentor. Sometimes, the free resources on the web are more helpful.

To say it is very easy as a newbies, but to put it in practice as a newbies to learn crypto trading is very difficult for them because they will be feeling as if it is very easy to trade at the moment until they lost a huge amount of money before they will come to their senses to focus in learning crypto trading. I will advice you to use small amount of money to start trading so that you will begin to experience some positive help from the potential traders in the market, before you will now increase your capital which is the best way you can improve in profit making in the market. Reading books to know more about crypto trading is good, but you need to practice it by investing money on a particular coins and hold for the right time to come before you can trade to know how good you are in the community.

If new one can learn trading directly from someone then that is the best way to learn trading. But if a trader cannot get any direct support then online trading course can provide good experience for him. Especially the courses that are from basic to advanced level. Learning trading will not be too difficult if one consistently studies the courses regularly as well as reads various articles about online trading then he can easily able to learn trading.

The most rewarding part if you have a friend that knows trading is that you can easily ask questions of him and he can guide you on the best approach. This doesn't mean an online course isn't working; it is just having fun while someone knows that will teach you, but there are tons of traders right now, as there are tons of tutorials there and also forums that support you and are pretty active in answering your questions.

I don't have much to advice you in trading but what I have to advice you is that  in trading you have to skillful and you don't need rush into Trading without knowing the necessary things that should be obtain before venturing into Trading, one of the elements that makes people to lose in trading is lack of focus and lack of concentration in trading, when you understand the rudiments of Trading their is every tendency that you most sure make  a profit but the problem is that some people doesn't care to know the procedures  of trading  and they kick off trading and this have been one of the barriers that leads some trader's into failure  in trading.
If you want to learn and understand the procedures of trading I think that the best thing to do is to start up with online tutorials and been practicing with small amount of capital and check if what you are practicing is in same line with your objectives. Secondly a beginner in trading is not supposed to use what it can't afford to lose to trade because I know quite well that trading is something I know that if you don't understand it's structure of functions you will be experiencing lose at every point in time.

Rely on your experience in choosing the best time frame to trade. It will be on you, by monitoring the fluctuations of the market. I mean, we cannot tell that exactly because we may be on a different timeline. But there are threads before that discussed this, I just cannot find them anymore since they are buried in the deep of trading sections. If you have enough time then just go look for it.

Regarding the first question, just keep on learning the basics even if you think you are already professional in trading. It's to always go back to where you start because there will be times that you will need them especially when you are on a losing spree.
Is reading books still a thing now? I mostly just watch tutorials and tips on the popular streaming service. I mean that's better for me since it's short and there are visual aids.

Most newbies will jump into trading without learning the basics and sometimes they do not also ask questions. Majority of them regrets in the end. My advice to Op is to first determine if he truly wants to trade, I remember I laid hands on trading but it didn't give me any peace of mind and i stopped trading.
If actually you want to trade, ensure that while reading the recommended books, always try trading with a demo account. Practicing what you have read is the best way to learn trading. Do not dwell so much on the theories and forget the practice.

Only a few of your friends or really that very are if someone would really be teaching all the things that you would really gonna need to learn or something that he learns too.We know that there are friends which arent really that liking on telling someone about on the things that they've been dealing specially if this is the sole reason on why he's experiencing that financial freedom or having those good numbers in terms of profitability.
They dont really like on getting that being equaled or similarly be able to earn on the same way because there are ones who dont really like to see their friends progressing and would be able to have that competition.
Its not really that something new on which there are friends who doesnt really care about on teaching you on the first place.If there's one of your friends would be willing on teaching you these things then lucky for you,
but if not then making yourself or having that self learn is never been that a problem.Although it would be taking much more time and effort because of self learn but doesnt mean that you cant learn on the same
thing, it would really be just longing up the duration.

I agree that it is quite rewarding for a newbie who already had close friend around with him could learn fast but I'm still in doubt with this that one friend could have this negative feeling about opening up his total trading analysis to a friend. Some trader complain that they have used up some money to go acquire some knowledge through seminar groups, telegram or youtube and so they will require a friend or someone to pay for the full service they went.

There are many posts, articles available online to know about trading, this forum has a lot of information about trading if one reads carefully he can get enough knowledge about trading. Trading is like a professional business and it is very difficult to do well without experience here. It is a good initiative if a newbie trader tries to learn about trading by reading books, to become a successful trader you have no choice but to read. These books have many positive reviews, if you think you want to invest in learning then you can buy these books.

If, after each loss of money, a beginner will conduct a comprehensive analysis in order to find out the cause and avoid such mistakes in the future, then such a loss of deposit can be regarded as training. And without such a loss of deposit, it is impossible to gain experience, which, in tandem with knowledge, must necessarily lead to profitable trading.

I think for the first time in trading a novice trader would be better if he has a friend who is familiar with trading beside him, so that at least he can lead him to introduce him to the world of trading. the use of indicators is an important thing to know at first, because with indicators it seems to be a stick for the blind, but not completely the indicators are always correct, so we have to be able to respond when the indicators don't work. and after that we get a feeling about trading, and it's as if we can talk personally with the chart

If your main intention is to learn the basics of trading then I recommend you to watch some YouTube videos as those can be more helpful then the books you are trying to purchase. A human learns far better from moving images with sound rather than with text and images that a book provides, and fortunately these days there are a lot of those videos available on platforms like YouTube for free of cost.

If you are new to trading then I recommend you to be careful when reading and following those books because a true trader doesn't rely on the experiences of the other traders, but works on his/her own strategy and makes a trading plan that would work in different conditions of the market. My advice would be to go with a demo trading account, and do some trades using a demo account.

I recommend you to learn about indicators like RSI, Bollinger Bands, and Moving Averages because those technical indicators are very important for a trader and if someone who know how to use those indicators in a good way then that person can have quite good trades without any doubt. The most important indicator for newbies would be RSI because that indicator is easily to master and it can be very helpful in trading.

Even though i agree that starting off by reading books as one of the ways to learn trading is also a great idea and step, i would also say, never neglect or lookdown on the area of practicals, that is actually putting all that you are reading to the test through trading live on a demo account, yeah, there are several very advanced exchanges and brokers where you can sign up for a demo or live account.
Demo account simply means an account given to you to practice trading, funds on this account is not real fund and cant be withdrawn,
While a live account is an account where you will have to deposit real money and trade like a pro, on this account, you can make withdrawals as you so wish, its on you if you make profit or losses ..

So as you are reading books , its also a good idea to start training yourself and putting your trading skills to the test by trading on demo accounts, demo account creation are always free across all exchanges that supports it.

Still wondering why many are still asking like this where in fact, there’s a lot of resources available online already, and its to start learning how to trade nowadays. Well, that books can be a big help and I also suggest to look for alternatives like a youtube tutorial or having a mentor when it comes to trading. Its also good if you can use a demo account first so you can already feel the pressure in the market. Start from the basic, and keep on doing a research before anything else.

indeed that's one of the main reason why some traders didn't go well in this first few days of trading. We should learn the things that a token or a coin mjst have in order for us to get and understand how the market will flow.Sometimes we need to have a basic understanding of charts as well such as candlestick so that when bear market came we can still monitor our classes.

Certainly. Reading will never guarantee success in trading although I would say it’s also helpful but everything will still matter on how experienced you are in trading. That’s why some chose to have a demo account first before they start to engage in live trading because trading needs more practicals especially in dealing with emotions as you can’t learn to manage your emotions just by simply reading and studying trading. So do prior reading and let your experience do the rest.

The second book that you have mentioned buy this one. Secondly buy any basic candlestick course and advanced price action course from anywhere. I am telling anywhere because most of them are going to tell you the same thing no matter what. After you are done with these basic things next step would be to open a demo account and start practicing the strategies that you have learnt. After you are able to make discipline consistent profit in demo account for a few days then move to proper main account.

Yes there are a lot of them. At least I know you would have read the comments here. But take the one that works for you. Do not feel intimidated or overwhelmed with it. Take them in bits and test them out. If it works for you fine, go with it otherwise, throw it away.

Good. You don't need to expect big things but expect little wins as they show you that you are doing something right and you should continue or something wrong and you should sit and review your methods.

In addition to the books you have listed my suggestions to you would be to add other podcast and video materials to your learnings.

There are lots of posts on trading for newbies which are really helpful. Because there is always more risk in trading and loss here reduces the amount of your capital unlike investing. Also you should research first then try the new stage because if you lose in the first stage then you will retire from the crypto market later on. Moreover, in the beginning of any business, the risk is high, so experience is essential first.

Certainly, books can be a great idea to learn the basics of trading and nowadays most people can learn online from basic to advanced levels. One can learn well in both ways if one tries. For new traders, I would like to say that those who will trade should not get greedy or take any trade emotionally. Newbies usually make these mistakes. Before trading, it is necessary to know the detailed information of an asset. The strategies given by others can be observed but the trader has to prioritize his own decisions.

There are already many posts about trading information for newbies hope you read those posts well. If you read these posts about trading well, your understanding about trading will be clear. Every task is difficult in the new situation. A new member will find trading very difficult in the beginning and when he starts trading without having any idea about trading then it will be seen that he is losing in most of the trades as a result of which it will be seen that he is disappointed and he has developed a negative mentality about trading so beginners should not start trading at the beginning. Newbies should first get adequate understanding of trading. Adequate idea as well as help from various professional traders should be taken so that if a new member maintains the initial aspect then that new member will achieve success in trading.

www.babypips.com is a nice place to start the basics. It was part of the sites I slept on during my formative years in trading. I strongly recommend it. However, whether reading babypips, other resource materials or not; it still boils down to practicals. If you read all you want but don't demo trade or back test whatever information and strategies you've assimilated from books or sites it amounts to nothing. Practice is the main thing in trading. You need to burn the midnight oil doing that. Trading is a serious business career.

Again, once you think you've found your footing in demo trading and want to go live; learn Money Management (MM) and don't ever force trades. Let the trades come to you. If trades delay or don't come, act like nothing wrong happened. No one needs to be trade every day to be profitable.

a demo account is very useful for beginners to test their knowledge of trading, by looking for that strategy in a demo account they won't be surprised when doing a real account, but it should also be known that there are other challenges to real accounts, namely psychology, sometimes a good strategy may not necessarily work on a real account considering the psychological pressure that breaks our strategy. therefore do not rush to invest funds in real investment before having sufficient knowledge and mental readiness. because after all we bear the risk

Cryptocurrency market is not like a gambling industry where anyone can  come in and roll the dice rather it needs proper knowledge and expertise. If you are jumping into cryptocurrency without prior knowledge then chances are that you will lose money (as many  new comers do). Demo account is good for practice but real experience comes from the account that is backed by capital. Make sure you don't invest too much, which you can't afford to lose.

I don't know why most people, especially newbies, ignore this but demo accounts are a great way to practice your knowledge to have an idea about how you are doing after learning the things, if you have learned a new trading strategies, simply go ahead and use the demo account to test it out to see it if works or not, you can also see if you start trading with whatever knowledge you have gained so far to see if you will get profitable or not.

Newbies generally just invest their real money after learning a little bit about trading and that is how they incur losses, if they don't use real accounts with real money but practice with demo accounts first and learn everything properly, they won't have to face any losses when they start trading with real money.

For sure as a newbie you already check what are the things you need to know so keep it up knowledge is the most essential factor when committing a trade. This serves as an insight for your position what are the possible patterns and trend of the market that could give an idea if this is a good position or a risky trade. Today there's a lot of newbies going into different groups just to get a free signal. Don't become dependent. Use your knowledge and perception.
Find the trading pattern that is suitable to your trading habit.

I don't have much to tell but what I have to tell you is that in trading you most learn the rudiments of Trading because trading have to do with learning and if you don't understand the basic principles of trading it really leads to disadvantages in trading, but for you to understand the basics thing's of trading just read through the links some colleagues drop for you.

DCA can be used by anyone even if you don't have a steady source of income. If today you have $ 1000 as an investment budget - then you can do some DCA to anticipate the risk of correction. Whenever the price can drop low - then you still have a budget for accumulation.

Imagine something simple instead of something difficult - so you won't complicate your steps for accumulation even if you're only on a limited budget. DCA is again useful for diversifying your risk when investing especially if the price drops lower - so it's not just being taken advantage of by institutions or big budget whales.

It's a wise decision for you to first focus on learning the basics of trading and not just wanting to jump in immediately as some newbies wrongly do. Trading is not a childish thing and so you need to make up your mind that at some point there would be some losses hence one or two losses might deter you from continuing.

And also go ahead in demo trading every strategy you may learn during the learning periods it would help you get a better understanding of whatever you're reading about. If possible, you can get a physical coach or mentor too who can be guiding you with few tips based on his years of trading experiences.

Professional traders not only have 1 support level, but they quite often have 3-4 support levels to minimize risk. Buying with DCA can help them to enter on the second support level should the price continue to fall below the first support level, so DCA will still be a good one to consider. I would probably recommend they buy the lump sum if the slide has reached the 4th support level, but it wouldn't hurt to stay DCA.

Learning about basics is very crucial thing for success and i don't think that without knowledge one can become a successful trader or investor. Videos can help you more in order to get the knowledge because from videos you will easily get the basic concepts.

One cannot get the overall knowledge from any book or any videos because when a person comes in a real life the things seems to change so with the passage of time one can learn easily from their achievements as well as mistakes. Create your experience and don't loss hope as everything needs some time after which achievements become easy.

Of course, you should not apply the DCA strategy when the price has reached high, since the price can then be adjusted up to 80%. It would be reasonable to make your purchases exactly at the moment when the price has reached the support level and can start an upward movement at any moment.

Yes trading is too risky and the most realistic option is long term investment,
long-term investment will provide a profit as well and most importantly the key is patience,
apart from learning DCA for newbies it is better to focus on learning on various things.

in my opinion for a better learning I advise you to read as many books as possible that you can, and when you are reading each book, also watch videos on youtube about day trade courses, also watch analyzes and price forecasts that people has done on youtube, this will help you a lot in learning because if you only focus on the books then you will not be able to better understand what is being said, another very important point is that you keep practicing on a demo account while you study, this will also make it much easier for you , for example, in the book you will read things like support and resistance

and when you see a video on youtube about support and resistance then you will understand much better, another example would be that you read about technical indicators such as volume, in the book you will hardly know how to use volume to your advantage, in that case when you go to see some video on youtube will already be easy to understand and if at the same time you practice on the demo account everything will be simpler. but there is a big problem with that, and that charts in the book and its explanations of technical analysis are from the forex market and when you apply everything you learned in this cryptocurrency market, then you will see that you will have a lot of difficulty

in this cryptocurrency market hardly anyone can make money doing day trade, you will see that over time, several people who have been doing this for a long time regretted having wasted time doing day trade in this crypto market

Yes, good thing OP has a good mindset when it comes learning the basics first before making some money. And this forum is a perfect avenue for OP so he will truly understand what’s the most scenario when trading, and why it’s a lot more important to gain knowledge and skills first before diving into a risky trading.

DCA is recommendable but of course it would really be at advantage into those people or company or institution who do have tons of money on which they could really be able to utilize on such kind of method.But how about into those people who do only have that sufficient amount of money that they could really be able to make use? For sure you would really be finding for the bottom price on which you could possibly be trying out to find
on what price it should be. This is why it would really vary if we do speak about decisions that to be made specially on trading field because not all would really be having the capability on doing such condition or situation
which DCA do might pertain about to those people who are really trying out to break even their losses specially if they have bought on the peak on which averaging out their entry which would result into break even or profits
on the time that the price would really be making out some recovery on which its not really that something new for them to have this kind of consideration on making such step.

I recommend DCA as often as possible for beginners especially if they want to invest. I certainly wouldn't mind if they bought bitcoins with all their budgets - but DCA can help them get their average price lower. DCA is also adopted by many seasoned investors - even if they are institutions. El Salvador also adopted DCA when they invested - MicroStrategy did too.

But if the OP wants to trade - then surely we have no right to change the plan. The OP can trade and take advantage of price fluctuations - but he should know what the risks of trading are in both the short term and the long term. He should learn to do analysis as often as possible instead of expecting advice from other users on the forum.

If you have a choice at the moment, then I would recommend that you refrain from trading and focus on long-term investing. In this case, you need to figure out what DCA is and how to use this strategy correctly. Perhaps this recommendation will help to save your deposit.

One of the mistakes that beginners make when starting trading is to rush too much. In the field of trading, beginners usually do not adopt any strategy, they take up trading through spiritual knowledge. After a coin's price has risen slightly, if the market moves down from that bullish position, they think that the market might go back to that previous position and they are reluctant to accept trading at that moment. But without having an idea about the market or adopting any strategy, it is seen that later they are not successful in trading.

Newbies should first learn enough about trading and practice patience. Trading cannot be accepted just by looking at the volatility of the market. In terms of trading, you should start trading only when you have a complete understanding of the market.

And don't rely on info from other people in trading because they don't always provide accurate info. Analyzing your abilities to develop and have good trading skills is better. Very rarely do people want to learn to trade until they know the market well.

And I think you can get trading information resources from the free internet without paying. But if you think the book is good, you can buy it to learn about trading. Try to find information about trading on the internet before buying the book to compare it to the book.

Many people buy books that are just collections rather than studied so that will be different from their original purpose of buying the book. So it's up to you again.

Before buying a trading book, look at those links that have been given to you. There are free resources that you can read and search for them first before deciding to buy.
Aside from those reading materials, check on exchanges that have a demo account. From there, you will have the idea on how it looks like to trade and how much risk you're willing to take.

The more you learn about trading, the more experience you can gain. Basically when we are in the first stage of trading we don't have much idea about it gradually the knowledge about trading develops. The important thing in trading is to have a good knowledge of the market and take the advice of a good trader. The more knowledge you gain about trading, the more knowledge you will experience. If you get good trading education, you can certainly do good research, and if you can observe everything about the trading, then you will be able to profit from trading in the future.

You're on the right path with this mindset, I'll recommend you watch some youtube videos on trading, there's useful channels that teaches the basic of trading and their teaches are very helpful. I can't remember their names as its been long I used this channel to add to my knowledge but as I come across the channels I'll edit them in this post. I love using youtube to learn than reading books because with YouTube you can be visualizing what you're been taught.

You can combined video with books so you understand better, an advice I'll give you is to calm down and learn very well before you want to start making money from trading because if you don't learn properly, all your efforts will be a waste as you'll keep losing to the market.

If you are new to the crypto currency platform and want to learn before you start trading, this is a great decision for your trading. I don't know much about the books you mentioned but you can find many platforms to learn trading online. You can find many YouTube channels where you can get basic knowledge about trading. If you have a close relative or friend who is skilled in trading, try to learn from them too. Trading is a platform where experience is very important as without experience the risk of loss increases in any trade. If you are interested in trading and have time then continue your knowledge and research about this market. Through hard work and learning over time, your knowledge and experience will continue to grow.

About the two books here, I am more sure about selecting the highest rating here in the store which is the second one (How to day trade for a Living)

I am amazed that there are still some people who are still able to learn via books compare to some video tutorials like youtube or any online video course.
I never experienced reading a physical book about trading, I wish I can do it in the future.

If you're a total newbie, might I suggest that you should learn from the scratch first? I think that trading is like big step and that you're probably skipping a lot of fundamentals in the metaphorical ladder. But if you do insist on learning trading first, you should first first evaluate yourself, you need to point out your flaws and how you might react on things and how are you when it comes to negative outcomes, are you disciplined enough to follow a pattern that becomes boring when it becomes a habit? There's more questions that you need to answer first and then honestly tell yourself if you're ready to trade and if not, you can always start from scratch.

Yes, the strategy must be adjusted to how we trade and that's why the strategy that we think is the best won't necessarily work well with other people,
good capital management will produce good results,
things like that must be considered too because trading is so complicated and not just about buying and selling.

If you are a trader and have an opened trading position, you can not forget One of best weapons in trading. Stop loss order is a very important order type to comprehend and practice in your trading.

If you want something better, more advanced, you can consider Stop limit order.

More important than any trading order, trading strategy, you must have a good capital management first. Don't use all capital for trading is a good capital management before you start trading.

There are a lot of trading books online that you can read and free videos on Youtube that you can watch.
Understanding the basic concepts of technical analysis, fundamental analysis, risk management, and different trading strategies would be your first step when you're in trading.

Considering that paper trading is the best idea to start learning to trade, this allows you to practice trading without risking real money.  It's a great way to test your strategies and understand how the markets work before committing to actual funds.

Next, copy trading can be a useful learning tool and provide exposure to different trading strategies.  But remember it should not replace the development of your own trading skills and knowledge and by combining copy trading with a commitment to learning, you can enhance your trading abilities over time.

Remember, trading is a skill that takes time and practice to develop, just be patient and continue to learn and adapt because learning in trading doesn't have a shortcut.

I prefer to join mentorship program, because you will learn the system. Those system in trading will make you more confident that the strategy you learn would work. Mentors will provide the concepts in trading and also refining the ideas what's really important to you as a beginner trader. If the mentors were profitable, students would also profitable as well if they follow the lessons. The best thing that I like in joining mentorship is you can ask something you don't understand.

Do your research, study up on how cryptocurrencies work and the different types. Don’t invest in something you don’t fully understand, and only invest what you can afford to lose.

Also understand a lot of security risks are prevalent in the crypto space so always use strong security; be selective of your trading exchange, some aren't reliable while some like Binance and Bitget have announced their protection fund which means good security.

Finally, cryptocurrencies can have short-term gains, but a long-term perspective and understanding of their potential benefits will help you weather volatility, so have a long-term vision

You already read up some quality discussion about possible hint on how to start trading so best try to get an idea about those suggestion given since it can help you on your trading career. Also use always good for seeking the news about latest happenings on crypto space since sometimes it will give you a hint on what might happen or possible scenario to come. And if we talk about quality videos that helpful for newbies just what other suggest youtube is there to visualize all this matter so just search trading keyword and videos that might help you will just pop up there.

You won't blame him as he currently experiencing what I term the newbie syndrome, it has to with the sudden rush to make quick BTC through risky ways which they certainly have no clue about maybe got interested because of the stories they have heard about how one can make lots of profits through this means.

I would advice you OP that not all means are worth it, trading is very risky but attainable though when you have proper and strong knowledge on it but in a situation where you are just in a rush to make money, you might just end up loosing all little you have.

Don't miss this new thread; I think it will help to encourage you too on the characteristics of a newbie trader. If you are Just starting your trading journey, you should first look for a reliable exchange that is favourable to you, although It depends on what exchange is allowed in your country. Then you should decide what kind of trader you want to be. There are traders that buy low and sell high; in some CEX, it's called "Sport trading," and there's also leaverage trading, as CEX calls it "Future trading." Depending on the CEX you are using, if you sign up for a demo account, which allows you to practise little things about volatility, leaverage, and when to enter and exit the market.

As a newbie, this information should not be what to concern yourself with right now. There are other more basic information to know first and as time goes on, which is as you learn more, you will know the answer to this question for you. Watch videos on YT to learn the basics just as much as you read to try to know them. Videos have a way of sticking to memory and being a summary for books that can be really long to read and sometimes confusing to understand. YouTube is a good place to find educational videos that will answer many questions you have.

Thanks all - what I am also unsure of is the best time frame to trade on?

I am not much familiar with trading books as I am fond of video tutorials for better understanding, Reading sometimes feels more comfortable and interesting but most of the time it's not a good idea. Still, I had just posted a reply to a new user's post it was quite a basic guide with few tips only

Trading tips that helpful for beginners

If you are really interested in reading I have a few suggestions as I had covered a few topics on my own you can have a look..


1. New to Trading - Tips and Suggestions (V1) Getting Started Full Guide
2. CEXs vs DEXs & Spot vs Future - Tips and Suggestions (V2)
3. Analysis & its Types - Importance of Analysis in Trading (V3)
4. Tips for Descriptive and Sentimental Analysis (V4)
5. Resistance In Crypto Market & Its Types - (Newbie Guide Series)

Before starting trading as a newbie, first you need to get a complete understanding of trading. Before trading, detailed observation and research should be done about the trading market. You must be patient. Because mental state is very important while trading. Before trading you need to determine the right time and trade at that time. And of course don't forget to trade in consultation with a more experienced trader.

I will just have to say that trading is a serious business and for serious people. You won't be unserious and what to be a trader because that determines how committed and far you will go. Challenges in trading are not what unserious people get into. However, you have to mention your challenges after you have gone through the links you have already.

I don't know, should i suggest you a genuine reply or just ignore you like you have ignored the spamming rules of this forum (no offense) actually i read your neutral tag and they said you ask same question again and again by changing the words like if i have to ask how are you i can also say how are you doing etc. You are also doing the same. Well, tbh i don't know if you asked the same question before or not.

But if you heart find above two books helpful then go for it and give it a try but if you afraid that you will end up wasting your money on these books then you should read them online by writing this command first and then paste the full exact name of the book copied from amazon after the following code. So, you will be able to read these books for free and can now the potential that are they worthy enough to be bought.

A newbie wanted to trade and learning the basics first is a good idea rather than trading right away without enough knowledge as it would only result in losing more money compared to a newbie who learn the basics. It's good to know that a newbie have a good mindset. As the saying goes, "never dive into a strange water that you can't see through as now matter how experienced you are, you will never know the danger that it will cause". Good luck with the trading and profit in the future.

although sometimes the trading we do is not in accordance with the planning we expect. but when the more you read and have more knowledge about trading, the better it will be for your development.
study the 2 books you mentioned above, I can't judge whether they are good or not. but for knowledge, I think it's quite important. after that only experience can be a lesson for your development in trading.

and when you start to get bored, my message is don't be easily swayed by signals or directions from channels on social media that give you hope for quick profits in trading. focus on your studies. hope you get what you are looking for.

It’s a great idea to just settle down and learn the basics about trading rather than jumping into it. And once you learn a thing or two I would first advise you to use the Demo account provided by some exchanges. This will also guide you and then start off with your won funds but make sure you start with small amounts to minimize the risk of losing huge amount.

Here is a thread of books about cryptocurrency basics and trading by Ratimov; big library of bitcoin and blockchain books

Here is also a awesome trading tips on GitHub

Hi I want to get into trading and just wondering if anyone has any advice on how to get started?

I am not expecting big things straight away but want to at least learn the basics.

I have been looking online for a book to buy to start things off does anyone have any recommendations?

This two books below have lots of good reviews are they good for someone new like myself? ..

https://www.amazon.co.uk/Trading-Strategies-Replicable-Techniques-Management/dp/B09WZ296F2/ref=mp_s_a_1_2_sspa?crid=2RZ07ID9WJP3L&keywords=trading+for+beginners&qid=1689428852&sprefix=%2Caps%2C69&sr=8-2-spons&sp_csd=d2lkZ2V0TmFtZT1zcF9waG9uZV9zZWFyY2hfYXRm&psc=1

https://www.amazon.co.uk/How-Day-Trade-Living-Management/dp/1535585951/ref=mp_s_a_1_3?crid=2RZ07ID9WJP3L&keywords=trading+for+beginners&qid=1689428852&sprefix=%2Caps%2C69&sr=8-3