Trading is risky, be conscious - page 10.

waONE

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Quote from: WatChe on July 01, 2023, 11:00:17 PM

Quote from: Altryist on March 09, 2023, 03:40:48 PM

A demo account is generally a separate issue, the benefits of using them are very doubtful. I doubted the usefulness of demo accounts long before I learned about trading, when I had a chance to try to bet on a demo account. The demo account does not give you the feeling of contact with real money, it is an irresponsible game where we can not lose anything, which means we cannot get real experience there. Trading with a demo account is also the same, it's just a game that doesn't teach us much.

Demo accounts are good for practising prior to jumping into actual trading. To me Demo Accounts are like swimming pools and actual trading with money is sea, you can learn swimming in pool but your actual test is when you jump into real water aka sea. To avod losses in trading its best to practise in demo accounts and jump into real trading with small cash. We can mix both these strategies to avoid initial losses in trading. The real test no doubt comes with actual trading and with actual money.

Yes, I agree with what you explained, so don't have high expectations because it will be different,
real trading is much more complicated,
demo account is just to get to know the existing features.

Fakhrulenclix

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Quote from: WatChe on July 01, 2023, 11:00:17 PM

Quote from: Altryist on March 09, 2023, 03:40:48 PM

A demo account is generally a separate issue, the benefits of using them are very doubtful. I doubted the usefulness of demo accounts long before I learned about trading, when I had a chance to try to bet on a demo account. The demo account does not give you the feeling of contact with real money, it is an irresponsible game where we can not lose anything, which means we cannot get real experience there. Trading with a demo account is also the same, it's just a game that doesn't teach us much.

Demo accounts are good for practising prior to jumping into actual trading. To me Demo Accounts are like swimming pools and actual trading with money is sea, you can learn swimming in pool but your actual test is when you jump into real water aka sea. To avod losses in trading its best to practise in demo accounts and jump into real trading with small cash. We can mix both these strategies to avoid initial losses in trading. The real test no doubt comes with actual trading and with actual money.

There are many places where we can study before trading, learning to use a demo account is pretty good, learning to understand a lot of theory and so on, but the reality is trading is still risky even though we have learned a lot before because risking the money we have will become turmoil within ourselves and can result in unwanted things.
I have learned a lot about trading but I think the most valuable lesson is experience, because it is experience that can control ourselves in the situations we have been through so we don't do the wrong thing.

WatChe

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Quote from: Altryist on March 09, 2023, 03:40:48 PM

A demo account is generally a separate issue, the benefits of using them are very doubtful. I doubted the usefulness of demo accounts long before I learned about trading, when I had a chance to try to bet on a demo account. The demo account does not give you the feeling of contact with real money, it is an irresponsible game where we can not lose anything, which means we cannot get real experience there. Trading with a demo account is also the same, it's just a game that doesn't teach us much.

Demo accounts are good for practising prior to jumping into actual trading. To me Demo Accounts are like swimming pools and actual trading with money is sea, you can learn swimming in pool but your actual test is when you jump into real water aka sea. To avod losses in trading its best to practise in demo accounts and jump into real trading with small cash. We can mix both these strategies to avoid initial losses in trading. The real test no doubt comes with actual trading and with actual money.

Dr.Osh

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Quote from: Obari on January 19, 2023, 01:30:48 PM

What would be your advice for those wanting to trade as a newbie?

Talking about advice, then I think that one of the most important things in trading is knowledge about trading itself. increase literacy regarding what will be traded, product developments, chart analysis, and others. This is a point that needs to be considered in trading. it is very true that trading is the right way to increase the assets we have, but without knowledge, it can backfire, what you wanted to increase the value of the assets you have actually decreases in a very short time. this is what makes trading risky.

Dr.Bitcoin_Strange

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Quote from: gunhell16 on July 01, 2023, 05:05:46 AM

No matter what kind of trading, there is a risk attached to it, there can't be any when money is included in it. That's why the need for trading is that you know something about it, you can't just be persuaded by anyone, you really must know about trading Forex or Crypto.

Because if you only base what you earn from trading on luck, you cannot be called a trader, because for sure you will only use wasted capital here.

Although trading has its risks just like every other Investment, the risk is greater when the trader doesn't have a good idea about what. They could just be mixing things up and losing money, but if one is more skilled in trading, it will reduce the risk of frequently losing money.

Whoever thinks that trading is based on luck is only mistaking it for gambling; in gambling, people talk about luck all the time, but in trading, we talk about skill.

Cheers 🥂, Dr.Bitcoin_Strange 👺👺

stomachgrowls

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Quote from: Russlenat on July 01, 2023, 04:59:29 PM

Quote from: Obari on January 19, 2023, 01:30:48 PM

Over the time, I've seen people wanting to go into trading because they feel or think is a get rich quick scheme but get so disappointed along the process because the result they get isn't what was expected.
Trading is a very lucrative business but also a very risky business as well and as such should be done with so much caution.
What would be your advice for those wanting to trade as a newbie?

Do not trade until you become ready to trade not just in terms of knowledge and skills, but also in terms of your finances as taking a loan is never advisable especially if you are a beginner trader. And never trade because you believe that it’s a shortcut to make you rich, but only decide to trade because you are confident as a trader and you have high faith in yourself because of the acquired sufficient knowledge and developed good strategies that will be useful in trading successfully.

This is where demo trade would really be that relevant on which if you do tend to touch up this crypto space then it would really be just that normal that you should really be needing to know about the basics or on how

things should really be handled out via learning on what are those things that are needed to be learned about because if you do make out directly those trades without having that enough preparation then you would
definitely be finding yourself on doing gambling simply because you dont really know on what you are doing which is something that you should really be trying out to avoid.
Trading is risky because we are dealing on a market which is really that entirely that volatile and something that cant really be that that easily predicted or make money.

If you wont really be making yourself that conscious then you would definitely be able to commit out mistakes which you would really be going into a path which it isnt really that supposed to be that this way.

Russlenat

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Quote from: Obari on January 19, 2023, 01:30:48 PM

Over the time, I've seen people wanting to go into trading because they feel or think is a get rich quick scheme but get so disappointed along the process because the result they get isn't what was expected.
Trading is a very lucrative business but also a very risky business as well and as such should be done with so much caution.
What would be your advice for those wanting to trade as a newbie?

Do not trade until you become ready to trade not just in terms of knowledge and skills, but also in terms of your finances as taking a loan is never advisable especially if you are a beginner trader. And never trade because you believe that it’s a shortcut to make you rich, but only decide to trade because you are confident as a trader and you have high faith in yourself because of the acquired sufficient knowledge and developed good strategies that will be useful in trading successfully.

Rockstarguy

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Quote from: YOSHIE on July 01, 2023, 09:21:27 AM

What you say, indeed above the line, sometimes those involved in crypto trading do not understand and learn the risks of trading, many of them think trading is easy, make money fast, the fact is that all is far from expectations.

Quote from: Obari on January 19, 2023, 01:30:48 PM

What would be your advice for those wanting to trade as a newbie?

My advice, it's okay to be involved in crypto trading, but study well, understand well and study the risks of trading, don't be rash, consider the type of crypto you want to trade, so that you can at least overcome the risk a little and be able to earn well. Furthermore, understand the crypto market well and be well informed about everything related to trading.

You are right, people who just come to know about trading they think Trading is very easy. like I could remember when I first came across cryptocurrency trading I was thinking it is something that is just easy to make money from, I have no knowledge about cryptocurrency trading and then if I had money, I would have put in my money in Trading thinking that I can make profit easily, this was the mindset I have then as a beginner. Beginners always think trading is very easy like the way they imagine it.

I think trading is a skill which people are suppose to learn before putting their money in it. there is no free money in Trading one must have knowledge first before making profit.

YOSHIE

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What you say, indeed above the line, sometimes those involved in crypto trading do not understand and learn the risks of trading, many of them think trading is easy, make money fast, the fact is that all is far from expectations.

Quote from: Obari on January 19, 2023, 01:30:48 PM

What would be your advice for those wanting to trade as a newbie?

My advice, it's okay to be involved in crypto trading, but study well, understand well and study the risks of trading, don't be rash, consider the type of crypto you want to trade, so that you can at least overcome the risk a little and be able to earn well. Furthermore, understand the crypto market well and be well informed about everything related to trading.

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Quote from: Fuso.hp on July 01, 2023, 05:13:24 AM

This is the first reason people lose in trading because they think that trading will make them big very quickly. But when it comes to being big, shortcuts usually don't work very well. Before engaging in trading, we must forget that we become big men by trading. We can consider trading as a means of part-time income. Where trading is done by understanding the market for a short time of the day. We have to avoid greed in trading. Because the possibility of losing money is more if you get greedy. Try to earn some amount of money by using certain amount of money every day. We have to be careful not to set our expectations too high in trading.

In every action there will be a risk, including in a trade. In fact, we shouldn't be too ambitious about something we just know, and most of these cases occur when someone sees someone else's success that looks easy in that field. If we pay attention, trading is indeed an activity that doesn't drain energy and people see this as an extraordinary opportunity and think that this is an easy job so they have excessive assumptions. Most of this will happen to them rookies. Back again that any field that is occupied by a person must have its own level of risk and I hope that anyone does not have too high expectations if they do not know all the risks, look for lessons related to the field you will be in. from a professional mentor and don't overdo it.

Fuso.hp

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This is the first reason people lose in trading because they think that trading will make them big very quickly. But when it comes to being big, shortcuts usually don't work very well. Before engaging in trading, we must forget that we become big men by trading. We can consider trading as a means of part-time income. Where trading is done by understanding the market for a short time of the day. We have to avoid greed in trading. Because the possibility of losing money is more if you get greedy. Try to earn some amount of money by using certain amount of money every day. We have to be careful not to set our expectations too high in trading.

gunhell16

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No matter what kind of trading, there is a risk attached to it, there can't be any when money is included in it. That's why the need for trading is that you know something about it, you can't just be persuaded by anyone, you really must know about trading Forex or Crypto.

Because if you only base what you earn from trading on luck, you cannot be called a trader, because for sure you will only use wasted capital here.

proptradingpros

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Forex Trading is risky, everyone who intend to start trading of any type should be aware of the risks surrounding the financial markets.

At Prop Trading Pros we review prop firms and discuss how to get funded account to trade crypto or any other financial instrument of choice. Follow us to learn more

Alisha-k

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Life in itself is risky and so everything in it should be as well. Even the get rich quick scheme is risky because, how sure are you to know that the deal that would double your money in 24hours is genuine??

Well, If you're venturing into anything, especially something that you'll that gives value, it's always good to invest your time and probably money to get adequate and useful knowledge from it, generate your strategy too from experience and knowledge acquired.

benalexis12

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Because the other newbies who enter the cryptocurrency business in terms of trading, most of them are just carried away by the hype because they are shown the money they supposedly earned from trading. But they were not told how and what strategy was done before getting the income here. Because they didn't think that it takes time, time and self-study to understand what crypto
trading is in this industry.

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Quote

losing money due to lack of knowledge and skills which is really that a pretty common approach and something you cant really be able to avoid it out.This is really that a very common perception when noobs do

Well, trading is no longer as difficult as it was in the beginning. Now many exchanges have copy trading and bot trading features where even inexperienced people can earn good profits from trading.

Quote

In most cases, trading with demo accounts seems deceitful because most times people trade on demo accounts recklessly with the consciousness of having nothing to loss and after few practices with successful trades on demo account, they tend to jump straight to trading in a real account and end up blowing their accounts and that is why I don't encourage people relating demo accounts to real accounts.

The difference between a demo account and a real account is that you have to be very careful when trading in a real account.In a real account, if your trade goes wrong, it can cost you a lot۔
A real account should always be traded with small capital and with small trades۔And the perfect time should be selected while entering.
The benefit of the demo account experience is knowing where to enter and where to exit

Altryist

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Quote from: Obari on March 09, 2023, 08:50:37 AM

In most cases, trading with demo accounts seems deceitful because most times people trade on demo accounts recklessly with the consciousness of having nothing to loss and after few practices with successful trades on demo account, they tend to jump straight to trading in a real account and end up blowing their accounts and that is why I don't encourage people relating demo accounts to real accounts.

One thing people have to learn and take into consideration is risk management because it seems one of the major reason why people blow their trading account is poor risk management and people really have to learn how to use the Take Profit (TP) and Stop Loss (SL) feature as this is one way to minimize loss.

A demo account is generally a separate issue, the benefits of using them are very doubtful. I doubted the usefulness of demo accounts long before I learned about trading, when I had a chance to try to bet on a demo account. The demo account does not give you the feeling of contact with real money, it is an irresponsible game where we can not lose anything, which means we cannot get real experience there. Trading with a demo account is also the same, it's just a game that doesn't teach us much.

Obari

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Quote from: Kgdktac on January 28, 2023, 02:47:56 PM

another important advice is to practice with a Demo account before using real money. a demo account allows you to trade in a simulated market environment, which will help you to gain experience and confidence in your trading strategies without risking any real money.

In most cases, trading with demo accounts seems deceitful because most times people trade on demo accounts recklessly with the consciousness of having nothing to loss and after few practices with successful trades on demo account, they tend to jump straight to trading in a real account and end up blowing their accounts and that is why I don't encourage people relating demo accounts to real accounts.

One thing people have to learn and take into consideration is risk management because it seems one of the major reason why people blow their trading account is poor risk management and people really have to learn how to use the Take Profit (TP) and Stop Loss (SL) feature as this is one way to minimize loss.

carlfebz2

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Quote from: pgbit on March 08, 2023, 12:09:19 PM

Quote from: Obari on January 19, 2023, 01:30:48 PM

Over the time, I've seen people wanting to go into trading because they feel or think is a get rich quick scheme but get so disappointed along the process because the result they get isn't what was expected.
Trading is a very lucrative business but also a very risky business as well and as such should be done with so much caution.
What would be your advice for those wanting to trade as a newbie?

For new traders, it's important to learn the basics of trading through books, online tutorials, and seminars. Don't invest all your savings at once, start small and gradually increase investments. Develop a trading plan based on goals, risk tolerance, and strategy, and stick to it. Utilize demo accounts to practice and test strategies. Manage risk with stop-loss orders and portfolio diversification, avoiding excessive leverage. Remember, trading is not a get-rich-quick scheme and success takes time, effort, and discipline. Learn from mistakes and stay patient.

When you do find yourself on trading then you shouldnt really be that confident that you could really be ending up on being profitable just because this is what you do have in mind which is really that very wrong.Sooner or later you would really be that realizing that this is something that very hard to be done and you should really be that conscious on what you are doing because this would really be resulting into lots of errors and mistakes if you arent really that minding that much on how to do it well.This isnt something that could really be easily be bared up by someone.
It does takes time and lots of efforts if we do speak about on being successful.

BigBos

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Quote from: Obari on January 19, 2023, 01:30:48 PM

Over the time, I've seen people wanting to go into trading because they feel or think is a get rich quick scheme but get so disappointed along the process because the result they get isn't what was expected.
Trading is a very lucrative business but also a very risky business as well and as such should be done with so much caution.
What would be your advice for those wanting to trade as a newbie?

I see this, especially young people who feel like they want to get rich quick, they are eager to get into the world of trading, I often notice that around me.
My advice to the most important beginners is the right mentality and maintaining a good mental scale, if you look at my experience when in the trading zone, ambition and regret exist almost every day because buying and selling decisions are not based on correct analysis and too much panic in make trading decisions.
What beginners usually do is they are greedy with small capital but want to make a lot of profit with several trades, while the daily market sometimes doesn't move far and again they always listen to influencers who talk without reviewing what is conveyed and comparing it with the data we have. get from the results of our analysis.
Profit management and loss management must also be determined so that they are healthy in trading and the point is that you don't have to take a lot of profit from trading, just a little but you have to do it consistently.

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