Topic: Trading is risky, be conscious - page 2. (Read 2900 times)

Yes, to be able to become an experienced trader, you really need patience in going through various processes in order to become a successful trader. For those who have an advantage in being the first trader, of course this is just luck for them and people cannot try the same method as your friend did, because To be able to make a profit in trading, you must have good knowledge of the market and also have a strategy for buying each coin.
When carrying out very risky trades, of course we have to be very careful, don't buy an asset that we don't really understand well, which makes it possible that we will suffer losses because we don't understand it well and don't let us experience losses in the trades we make.

Every business has its own risk and trading isn’t exempted as there are several risk associated with trading but I’m sure with consistency and right tutorship, one will be able to be successful and I’ve seen claims severally that statistics and ratio of successful traders to the unsuccessful ones can’t be compared as there are more losers than winners and I wouldn’t have to argue that but rather I want to also relate trading to gambling as just as there are more losers to winners in gambling, doesn’t mean there aren’t people who are doing absolutely well, what matters is that we are fighting our way to be among the successful than just giving up.

Trading is not child's play, and no wonder most traders who are trying it often lose their money, and no matter how most of them continue to try, they will end up losing their money. That is why your advice is valid, all new traders, including the old ones who are not yet earning consistently should learn and continue to practice what they learn, and who knows, they can be successful in trading one day. I used "who knows" because I know that this is not an easy task, I am a trader and I can say I am good at it, but the journey was so rough and tough and I know that if there is no good income sources, one can easily be discouraged and back out of trading if the losses are much and the greenlight of success is never seen.

I have also tutored and mentored a whole lot of traders, some would try their best, while some would be lazy, but as of now, I can say that I am the only one trading among them. This includes the person who introduced me to trading, he is no more trading, this is to show how tough it is. But if one could be so rugged with it and give it all it takes, probably success will be made. But no one should think it is going to be easy, very thorough research and trading are advice and the natural quality of the traders should be able to distinguish the smart and wise ones from the common person. Also, the copy trading you advised is good when one is still learning, or doesn't have the time for trading or even does not want to know how to trade, regardless, a very good DYOR is needed to know the best to choose.

One cannot become an experienced trader without complete knowledge about trading. Becoming an experienced trader requires patience, strength and education about trading. But those who are new come first and trade if they are profitable then it is due to their luck. I had a friend who was just spot trading for a few months he made $400 in about a month trading one coin at a time maybe it was just his luck. I say this because he has no experience in trading but he earned from first trade. But not many people will be lucky in the first trade so everyone should understand and learn about trading to become a good trader because trading involves considerable risk.

That's what is really needed in trading; zero knowledge is not possible here, because if you have zero idea here and you make money, that means you just got lucky and your dealings in trading are just a gamble. And it doesn't mean that if you make money, you're a trader right away and then you know yourself that you don't have an understanding of trading. How can you become a trader if you don't have any knowledge about it? right?

Being a trader takes time and learning, so the context in which you look at it is wrong, as it is just like a gamble and just luck; trading is not like that. Because if that's how we think about it, our capital here will be wasted for sure.

Trading seems very risky to me because I am not yet fully experienced in trading. Trading requires a lot of experience. The more you learn and understand about trading, the more experienced you will become in trading. There are many people who don't understand about trading but they are seen trading with the hope of high profit and they face the biggest loss.

I have also seen many people who choose futures trade as their first trade. Many have lost their entire trading money whenever they make this trade. This is mainly due to their lack of education and experience in trading.

Trading is really very risky and harmful if you don't know anything about it, don't enter trading if you know that your knowledge is still insufficient. After studying everything, you just need to take the time and effort because it's for you too, you don't need to hurry just because you heard that it's easy to get rich in trading, no.

  Of course, for newbies, I can say that they should not get a profit right here in cryptocurrency. There was no one to study in Grade 1, and the next day they were in Grade 6 to graduate from elementary school immediately.

  You need to know the basics first; it can't be difficult to study right away. Other newbies will seek the difficult part of understanding trading, but the simple basics they do not know, but they are just cheating themselves. Everyone should go, and don't rush. And learn to listen. A wise person is a good listener, and a good listener always looks for a way to become successful in the future.

This thread is near to get a year old now and still, I'm sure that it's still relevant as there are a lot of folks think that they can trade easily and make money from it.

That's how they understand trading is and the problem starts with the influencers that are bragging their profits thinking that if they're able to do it, the others can do it as well.

You know the bias survivorship, they tend to think that others can easily do what they've done and making it easy on their perspective but not telling all the efforts they've done and losses that they've incurred over the period of time.

Im not really that sure that 18 is really that needed for you to consider on touching up yourself with trading on which you could really that eventually be able to make yourself having involvement
as early as you could or on the time that you are already aware of it on which it would really be just that a normal approach that you would really be having those considerations on the time
that you do encounter of it. On the time that you do make out those self learning then it would be your choice whether you would pursue it out on learning more or you cant just be able to bare up with the risks.
It would really be that your choice though. Trading involvement wont really be having  that specific age or what, as long you do able to hover yourself on such risky field and sustain
then this is what usually counts.

Before you go into trading to start with you should have attained the age 18, trading ot Self it risky , because you might be at loss and at the same time make profit, it's advisable to always trade with your own money, money you are willing to loose, not your life savings though in some cases you might trade your life savings and make profits, but generally it's not advisable to trade with your savings, all traders should be able to bear risk and shouldn't let' greed have a place in them when trading, the market is unpredictable with all our analysis.

Trading is a very risky ,first of all it is necessary to have knowledge about it, because whenever someone trades, if he does not have knowledge about this trade, then he will obviously lose You will not have profit until you learn to trade,
it is very important to learn the trade. For this reason, nowadays there are channels in Telegram and YouTube channels can also be searched. There are also those who give you time to time and also teach you. They will charge you a small fee but then they will teach you because learning is very important. Because I have been trading for a long time and during this time I have learned a lot, but you will learn only when you want to learn but I advise you that before making losses, if you learn it will be very beneficial

There should be enough knowledge about trading otherwise success in trading is not available. Especially I would say new purpose. Newbies should have an idea about trading before they should have an idea about how to trade and how much profit they can make. We all know trading is very risky. There are many newbies who trade too hastily without thinking about this risk. This shows that they often suffer losses. When it comes to trading, we all should be patient and check the market before trading.

You’re one of the few that also support the use of copy trading and I also love the idea of using copy trading as a beginner because one thing that makes learning trading easy is if there are some sort of profits coming in and I’ve always encouraged people to patronize copy trading especially as a beginner but aside that, it is always advisable to get the proper knowledge one desires before jumping into the real world of trading and I wouldn’t also advice people to judge their skills just from the use of demo accounts because I think the emotions don’t come to play while trading demo so trading only demo isn’t enough to judge one’s skills.

My advice to those who are new to trading is to make sure you DYOR extensively on the volatile market and take your time to learn how trading works. I suggest you keep using copy trading pending the time you will have broad knowledge on trading. Copy trading will help you to keep making profit even without having much trading skills. Few exchanges like Bitget has such feature.

True, even if you do say that you are an experienced or old timer, there's no way that you could really be able to trade without any emotions or reactions on which we are really just that humans on which it is normal
that on the time that we do lose money then that emotion or reaction will really be coming out. Its true that you cant really be able to experience these things then you do trade on demo considering that there's no risks
on demo trading. The cons of mastering yourself on demo is that you cant really be able to enhance yourself when it comes to this aspect on which means that its better to go with live trading.

Trading is indeed risky and if you dont take it seriously then it could really be causing up that damage into your capital. This is why as much as possible you should really be lessening out the risk
as you do go forward. Somewhat its never been that easy because every movement of the market will really be giving out that kind of hesitance on the decisions that you would be taking.
There's no way that it could really be that so easy because of this volatile market.

I don't think that a trader can trade without emotion unless such trader is using a demo, this account can make him not to be serious or just trying to make fun, with the little I know most traders attach emotion to their trading activity because money is involved, I agree with the risk management that you mentioned every trader should be able to manage his or her risk, know the time to trade and the amount to use in other to avoid loss, of course every one trades to make money unless he or she is a learner that decides to use a small amount that wont affect them much because they are learning.

The only advice I can give to newbies entering crypto trading is to learn the basics first, don't rush to make money here, don't be greedy, continue to learn, and never stop.

Be resourceful, always do your homework, and then learn how to use tool indicators to make it easier to predict the price action and direction of the coins we trade in cryptocurrency. And always be prudent and cautious at all costs.

What you suggest does seem reasonable and quite good, but you also have to think that what you are suggesting is not a newbie so you have to tell him about trading like gambling. I think everyone who dares to make or take bigger risks through trading are traders who have the ability and strong intention to gain profits through trading, even though this is always uncertain and not easy for anyone to get.

However, that doesn't mean it can't be achieved because every person who is very ready to take any risk is certainly very ready to carry out any strategy so that things like the risk of loss are things that he already understands before he carries out his trade. Both in the long term and in the short term.

You can not say that about trading even life itself is a risk you are awake today and tomorrow to be gone and if you want to make money in this life you have to learn to take risks if not you will remain in the same position for a very long time. and that is why I don't blame people who gamble, they also want to take risks if they will get more from it but the risk should be reasonable. anyone coming up should know that if you have the knowledge and you are ready to learn more then you don't have a problem.