Topic: Trading tips that helpfull for beginners (Read 785 times)

Trading Strategy:
As beginners, you need to set up a strong strategy for entry and exit points. There are a lot of experienced persons available on YouTube that provide you signals for entry and exit from the market. Stick to your strategy and avoid making emotional decisions based on market fluctuations.

Of course, in everything we do, we have to learn it first, as well as in trading, there are many things that need to be learned before doing it, but what you have to remember is that crypto trading has a very big risk, even though it's worth it with the possibilities, it's not a solution.

for people who are in economic difficulties, trading makes it possible to further exacerbate the situation.

The issue is that it does not have to be that way, a newbie has all the time in the world to learn more about this market and about how to trade, and while there is not other way to reach the level of the pros other than trading, they could increase their level significantly by studying the markets, but by rushing their entry to this market thinking they can become rich in a matter of weeks they are basically sentencing themselves to suffer massive loses from which it is impossible to recover.

Most newbies learn it the hard way, they either hear an influencer praising the cryptocurrency market and how profitable it can be for someone, or have seen a story of a person getting significant gains after investing in a meme coin, and they simply get excited after that and think that they can achieve great things in a very short period of time from here without knowing anything about or considering the risks involved with the investments.

They mostly lack the ability to do their own research, they expect a lot of things and don't see the negative aspects at all. Once they enter the market, take their first couple of trades, get some loss because they don't know much, that is when they come to know the reality that it is not as easy as they might have thought.

I agree with you. Good idea. But using a DEMO account gives us some experience, it's a kind of simulator, without it it will probably be even harder in real trading. Yes, it does not give us everything that will be in real trading, but it is a very good way to practice

DEMO account - is good for beginners and I encourage newbies to do this and acquire ideas, knowledge, and skills that we can apply in actual trade, However, we can't expect that it gonna be the same experience in doing actual trade because this will include mix emotions that certainly affect our decision making in when to buy and when to sell. Therefore, if we are already good at using a demo account, we can't say that we are also good in the actual trading scenario as everything will change, yet we can still apply the learnings we have.

Of course, in everything we do, we have to learn it first, as well as in trading, there are many things that need to be learned before doing it, but what you have to remember is that crypto trading has a very big risk, even though it's worth it with the possibilities, it's not a solution. for people who are in economic difficulties, trading makes it possible to further exacerbate the situation.

That's even forgotten these days. Newbies are going to the actual trading without knowing that they can trade through demo accounts. Well, the exchanges should also advertise this so that the new traders can have an idea on it looks like to trade using a demo account.
That's the sole purpose of it but the majority of the newbies are going quickly with their trades because they think that they don't need it and experience is what they need to have. They have a point but it's most likely that they're going to lose money on their very first try unlike with a demo account, they can make mistakes there and learn from it unlike with actual money. Once they lose, they're actually going to lose that money they have deposited and used for it.

I think that requires a bit of an experience as well because while it would be better to learn how to trade before you start to trade and that would be a great thing if you could do that and there is nothing wrong with that and should be considered a situation that is better. However, if we are talking about the current situation to be a bit of a different situation then we are going to be able to do something that will be a bit better.

This is why I think it is going to be a combination of both of the things. You need to learn how to trade before you start and then you are going to be a bit of a situation where you gain some experience and have open eyes on trying to learn something that would be better for you to see what you learn while trading.

Demo account is important and practice practice practice. Don't be in a hurry.

For sure, newbies will somewhat find those tips helpful later on while they are learning. This is like when you've already gauged the trading; if you know the controls and the game, you'll start to find tips and tricks on it to make your gameplay better, which I've also done in trading. They may not understand it now, but for sure later on they will be coming back to check those tips.

For sure it will be hard for newbie to understand some tips given to them since they can't visualize the given information by some people here. Much better for them if they just search a video guide about trading since there are lot of educational videos posted on youtube and maybe this could help them understand some certain situations that they need to learn since they can playback this for many times if they can't understand the informations or videos they watch.

Things you need to know about the market and Trading before starting.

Knowledge about trading:
First of all, you need to know about the market condition and need to know about blockchain, technology, and the crypto market.  You can get knowledge by reading books, articles, and videos available on the internet. Stay updated about the latest news that affects the price of the crypto market.

Demo account :
If you are new, you must try the demo account before starting Trading to build the skills and for a better experience. many trading apps provide demo accounts where you can learn about the behavior of the market in different situations.

Trading Strategy:
As beginners, you need to set up a strong strategy for entry and exit points. There are a lot of experienced persons available on YouTube that provide you signals for entry and exit from the market. Stick to your strategy and avoid making emotional decisions based on market fluctuations.

Risk Tolerance :
Define your trading goals it,s may be short-term or may be long-term gain. If you prefer actively managing trading by market news then the shot trade is the best option for you. Profit and loss depend on the risk high risk may give you a high gain or high loss but a good strategy cover it deeply.

Design making:
There are two types of designs making people first emotional than can panic and sell when the marked down. And the other one is a person that never panics and trades like a professional  according to the strategy if sees that he is going to lose he starts holding long term

Reliable exchanges:
Choose that one exchange that good with the user and has a good background, Portability, Efficiency, security, and provides friendly interference in the market.

Secure investment:
There is lot of ways to scam you need to be aware of them and make sure your account didn’t access by anyone make it secure by password, and OTP(one-time password), and never share your recovery phase with other.

it's true that trading is not a shortcut to solving economic problems, but for beginners, it's time to learn first, after learning the theory maybe we can start to learn practice, and there it will be seen that there will be many difficulties that will be faced to make a profit. with these difficulties we will gain experience, and in this process we will gradually become more complete as traders, although no one knows for sure how long the process will take because it depends on ourselves

That is a very common problem with newbies traders, they want to win and they want their wins to be big and fast, and while there is nothing wrong with those desires, as who would not like for their trades to go their way, it is an unrealistic goal taking into account their level of skill, so they should start slow and use a very small amount of money on their trades so they can learn all what they can while minimizing their losses, but as you may guess those newbies do not really do this and they have to learn the hard way why trading is one of the most difficult ways to make money that exist.

It is possibly hard for them because what is in there is a "profit" without knowing that it never comes too easy and quick. And I've noticed that most people these days are impatient, they want instant, they want to become rich instantly and so they try trading. The sad thing is that they believe on these social media influencers showing money from trading, promising earning xxx in day, and the hyped begun.

It was time to correct that mindset and thinking because whether we like it or not, trading isn't for everyone. We can try yeah but having a profit assurance for all who have try, there is nothing. Well, their losing experience would able to teach these people.