Topic: Trading tips that helpfull for beginners - page 3. (Read 796 times)

I'm not going to discourage you, those who are beginners really need the basic knowledge that they will get from reading guides about trading, this is very important for those who are just jumping in, at least they will get a lot of basic steps there. But it can't be said that just by reading a lot of guides you will become a great trader, of course besides that there are still many other basic knowledge that must be mastered. Letting everything run in an organized manner with the basic knowledge that will indeed be able to bring progress in every trade.

Honestly I also want to say that, the average beginner including me at first could not know or realize where the mistakes have been made, it looks quite complicated to find out. But as time goes by, trading knowledge increases and indirectly I begin to know where the mistakes are. I think most of the reasons for beginners' losses are due to a lack of preparation about the limits they should have, they are not mentally and psychologically prepared. I admit that trading requires enough experience and knowledge and also readiness from oneself in order to make the right decision to open a position.

Sure, here are some trading tips for beginners:

1. Educate yourself: Learn the basics of trading, different strategies, and financial markets to make informed decisions.

2. Start small: Begin with a demo account or trade with a small amount to gain experience without risking significant capital.

3. Set a budget: Determine how much money you can afford to invest and stick to it. Avoid trading with money meant for essential expenses.

4. Practice risk management: Use stop-loss orders to limit potential losses and avoid overexposing yourself to a single trade.

5. Diversify your portfolio: Spread your investments across different assets to reduce risk and increase potential returns.

6. Control emotions: Avoid making impulsive decisions based on fear or greed. Stick to your trading plan and strategy.

7. Stay updated: Keep track of financial news and market trends to make informed decisions.

8. Use technical analysis: Study price charts and indicators to identify potential entry and exit points for trades.

9. Learn from mistakes: Analyze your trades, both successful and unsuccessful, to understand what works and what doesn't.

10. Be patient: Trading takes time and practice. Don't expect to become a pro overnight; continuous learning and experience are essential.

Remember, trading involves risks, and there are no guarantees of profits. Always do thorough research and seek advice from financial professionals if needed.

I wouldn't say that it's impossible, they are both equally important. Yes you can't just read about trading and be a great trader, but you can't also just start trading without reading and learn how to be a good trader with just experience.

Because you wouldn't know what to do and you would look at it like it's foreign language and when you make a mistake you wouldn't know what mistake you did. It's much better if you could end up learning more about it and then trading based on that. It is going to end up being a bit of a trouble for you to make mistakes but you need to learn from them when you do. This is how it's approached and you should always consider that as a good thing. I personally do not make it work like that, and I think it's going to matter.

Been trying to learn the proper way on trading, thou i have an idea how the flow of it. And yes, the demo really helps a lot, it helps me to adjust with so many numbers and graph you can see in the screen. Trading is a bit scary to the newbie, but with the help of proper guidance and gaining more useful knowledge, we can do it at ease.

Being a trader, there are also many things which you needed to learn and know how to do along with your trading experience after which you might have developed some required skills and techniques needed to make perfect opportunity out, risk management is very important from this aspect, timing, research, patience and many more other requirements i may not mention in other to have a perfect trading, we will loose and win at the cause but the probability for our accuracy in trading will be more higher than to loose when we take every other conditions into consideration.

You have covered various topics of trading in this post which will be very helpful for newbies. Everyone who is new must know about this. There is no end to know about trading to achieve success in trading. A lot of knowledge has to be acquired about trading. Every aspect of trading a new member needs to know. One of the keys to success in trading is building your own trading skills. Every trader develops different trading skills. He builds his trading skills in a way that is easy to understand. If you want to do anything in life by trading, you must take risks and you must have a positive attitude because you need to be patient enough that any time you may see losses in your trading due to market volatility. It is very important for a new trader to have an understanding of every aspect of trading.

It is true that it is never possible to acquire trading knowledge by reading books, trading requires experience. If a newbie wants to start trading, first of all he needs to research everything about the Bitcoin market. Of course, if they cannot do research in the first instance, they should seek advice from those who are experienced and knowledgeable about the Bitcoin market and trading. In the case of trading, one must understand the market position and be careful about when buying will be profitable and when buying will be losing. And after knowing these, trading later on, an informed person can certainly earn. So before trading, the newbies have to analyze all these things well, then they can be successful.

Before you trade, you must learn about trading, fundamental and technical analysis but you need more. Before you start trading, make sure you are not going to use 100% of your capital to trade. Because as a new trader, most likely you will lose your capital. If you don't use 100% of your capital to trade, you will have rest capital to trade again.

To succeed in trading, there are more challenges than to succeed in investment. You will have to pay many cost in trading, trading fees are unavoidable but bigger cost is your failed trading positions. To reduce risk of losing all or most of your initial capital quickly, don't use leverages.

No shortcut to success in trading but many shortcuts to bankruptcy and lose all your capital.

Experience would teach us everything and will help us to find new strategies that can be more effective than those tips that we have read in books or in YouTube. But of course, we can't expect that learning can be done just in a few days but that might it take weeks or months. That is why I suggest that beginners just start trading with a small amount because our intention in these early days is not to EARN but to LEARN. And to the moment that we are consistent of our doings, that's the time to increase limits or capital.

These tips are only helpful if you can use them the right way, but you need to study first and educate yourself on these tips before going into live trading. However, experience is still the best tip to win your trades. It’s only useless learning all these OP’s tips without putting them in action. That’s why regardless of your first and consistent losses as a beginner, you need to experience trading most often as that’s the only way to be more skillful in this kind of craft.

Do you mean trading tips or trading strategies?
I don't see something wrong to learn varied trading tips, they must be useful for us. Specifically the trading tips that are shared by OP in the first page, those are the basics matters to know in trading. Everyone must know the basic things in trading first before they begin to trade. Sure, we must understand it firstly, so we can apply the tips for our trading activity.

Indeed. Trading has the risks, it is not an easy way to earn money. We must learn seriously about the risks, it is the only way to avoid severe losses. Regarding the success in trading, it surely needs a process and sometimes takes a long time. Although we already learn from many sources, we need experiences to strengthen our insight. We may not get the experiences from demo trading, we get the it from real trading.

Agree. Before trading, we must understand the risks firstly. It will help us to minimize the risks. Sure, it also becomes one of the considerations related to our trading goals. We make goals in trading more realistically if we make them by considering the risks. So, it is true that understanding the risk first should be the priority.

For sure every trader needs a strategy to be a successful trader, trading without a strategy is like someone on a journey without a direction or destination point.



I don't get you by what you said here "but a good strategy covers it deeply"

Do you mean if one is a good trader that high risk doesn't matter because you are a good trader?
I would like you to elaborate more on this particular point you made,  good trader or not good trader,  risk management is key to becoming profitable, once you over risk, the market has a way of disciplining you.

Risk is present in the first place. That’s why you have to be certain on what goals you want to set and achieve as there are risks associated in it. Though this is still hard for beginners to understand but as they keep on experiencing trading, eventually they will come to discover and identify those risks that they need to overcome so they can maximize their trading success and profitability, thus giving them chances to minimize from their trade’s losses.

You have a point mate. It does not matter how many trading tips you have in trading, the important thing is you have to study and learn about them so you can successfully apply whenever you decide to trade. Trading is hard and certainly risky, that’s why everything should be learned the hard way and everyone should follow its process as there’s no shortcut to success in trading.

All of them are needed to start trading and from that, we can't just simply think that it was too easy. Yeah, we need to have a wide trading and market understanding as this is the key tool leading to a successful trade and therefore, we have to work hard otherwise, never expect success then. It is about telling beginners that trading is not the place for impatient people, not even the crypto space, and if we wanted to earn from here, we should have to extend our patience and must know how to handle the up and down experience - we lose, we earn - that was the reality in trading.

And usually these fellas are the ones who do really ends up on having that messy start up and this is why its never been that ideal on making use of huge amount specially when you are just starting up.
We know that its not something recommendable on doing so considering that we are still lacking of knowledge and skills on which it would really be just that right that you should really be making use of capital
or bankroll on which it should be less or small since you are still on learning phase..

Start up with demo and you should really be spending ample time on trying out to figure with those trial and error and also the most important thing would really be about on having that
kind of management when it comes to your funds. This is something that could be learned along the way on which it would really be helping you with your learning curve.
Proceed out with caution and really be sensible towards your actions that you would really be making.

The beginners who think it will be effectively using bigger money, probably they don't learn enough about crypto trading. If they learn properly, they must understand that it is better to use small money first. Every beginner must focus on learning, know first how to trade in a proper way. But for the beginners who don't really care about learning, they can be greedy because they are too obsessed with big profits. They may not realize about the risks in trading, they only think about the potential profits.

The problem with some beginner traders is that they usually think that trading at a bigger capital will also gain higher amount of returns. That is a wrong mindset since you can’t expect that trading will certainly be profitable in the end. The reality is, the bigger money you trade, the bigger amount of losses will be. Unless if you become a professional trader, you can always increase the size of your trades.

Demo accounts are limited with trading versatility, most of the features you will have in all the available demo exchanges available are limited with features relative the real exchanges, it also lag and abandoned without updates from the developers. Instead of demo trading, go for paper trading instead, tradingview has the feature and you can virtually trade all the coins available coin market and coingecko and the view basically of all the features that you can see on exchanges, I think trading exchanges mostly mimic what tradingview has on their platform.


This is nothing but the truth, some exchange can be frustrating and they also intentionally liquidated trades, they gave glitches when there is high market demand which results into glitches and to cancel trades becomes problem, even with stop orders, they don't work those times and opportunity to make money becomes wasted, to avoid these errors it's better a research on best choice of exchange is done before trading begins.

Demo accounts or let's say virtual tradings are kinda meh for me. It's not really where you can build skills or make better decisions from your trade since it's not your money and you don't care nonetheless on the outcome of your trades and this is why I didn't use those back in the days. If it is your money, you have that psychological mindset of being careful on what you do with your trades unless those money aren't really practically going to be needed anyway.

Reliable exchanges obviously won't give your profits, but it will keep you away "somehow" from being locked out from your account. Can't judge what exchanges are reliable these days, since I had quit trading long time ago and what I am pointing out in here are just purely from experience.