Topic: What advice will you give to a beginner trader? - page 2. (Read 1315 times)
I am explaining from my experience that those who want to trade, please understand beforehand what is trading? For beginners, you should devour a lot of duration learning how to trade before you commence trading. Research until you are evident and have sufficient knowledge about trading. I guarantee that trading is not performed by overhearing to anyone or with any motivational speech. There are words - think twice and then act.
If you are new to knowing I suggest reading to take classes. there you will get a lot of learning about trading because of course it becomes an important point that this business has a high risk.
Don't just read on the internet, you will find it difficult to have insights that can be learned. I think the investment by taking the class is worth it because we can learn from the experts
- Buy trading book
- Join Class Trading
Don't just read on the internet, you will find it difficult to have insights that can be learned. I think the investment by taking the class is worth it because we can learn from the experts
Having a formal class would help, but honestly that's expensive, and I believe that most traders are just learning how to trade through online information they read. We in the generation where information are already shared online, if we are too resourceful, then for sure it will help us to succeed.
Trading is like a business, you take a high risk in doing it, therefore it requires the right knowledge before you risk a considerable amount, but you can always practice with small amount first, just increase along the way as you learn.
Lately, I got someone who reached out to me that he still a beginner in trading and has no clue on where to begin as he is so confused. The advice that I gave to him was to spend some time in educating himself to learn the basics of trading. I also advice him to be self-resourceful by looking in to Google, Youtube, Bitcointalk, etc., to find some content related to trading.
I also suggested him some platforms like Newscrypto to learn crypto trading from beginner to advanced level and gain access to some tools plus the demo trading simulator. It’s better to practice trading first with a demo account rather than going all-in with your funds without much knowledge.
I also suggested him some platforms like Newscrypto to learn crypto trading from beginner to advanced level and gain access to some tools plus the demo trading simulator. It’s better to practice trading first with a demo account rather than going all-in with your funds without much knowledge.
If you are new to knowing I suggest reading to take classes. there you will get a lot of learning about trading because of course it becomes an important point that this business has a high risk.
Don't just read on the internet, you will find it difficult to have insights that can be learned. I think the investment by taking the class is worth it because we can learn from the experts
- Buy trading book
- Join Class Trading
Don't just read on the internet, you will find it difficult to have insights that can be learned. I think the investment by taking the class is worth it because we can learn from the experts
Study everything about trading. Be confident and have discipline and a plan to follow. That is all you need to have in order to be successful at trading. Learn how to manage your risk and capital and you are all good. Remember a big percentage of trading is about testing your patience and emotions never let yourself lose just because you lose one trade. And the most important rule DONT BE GREEDY.
That's right. I agree, its not easy to trade especially if you have not enough knowledge. There's a lot of topic about in trading here in the forum, if you want to have guide in trading you can watch in Youtube tutorials. I'm starting to deeply study about crypto trading but its really takes a lot of time and dedication towards you're goal if really want to learn about trading. If you just plan it but not executing it properly, nothing will happen. Free demo trading platforms will help you to practice your trading. Learn to properly set the right indicator and right timing of entry and exit. 
From the little experience am having in trading as a beginner there are lots of things you have to know which I will like to mention few,
1. You don't have to be greedy always know when to exit the market and take your profit
2. Don't trade or invest what you can't avoid to lose
3. Always make sure you don't borrow money to invest in Cryptocurrency
4. Don't just invest in anyhow coin always make your research first before buying an coin
5. Don't FOMO etc
There are other things you will have to know but you can do more research and findings about it.
1. You don't have to be greedy always know when to exit the market and take your profit
2. Don't trade or invest what you can't avoid to lose
3. Always make sure you don't borrow money to invest in Cryptocurrency
4. Don't just invest in anyhow coin always make your research first before buying an coin
5. Don't FOMO etc
There are other things you will have to know but you can do more research and findings about it.
I propose you should peruse more about stocks, digital currencies, and forex. YouTube and online sources can give you an immense measure of information in a brief timeframe. I wish I have constantly to recuperate my misfortunes back in my day exchanging days however. I just took in certain instructional exercises in YouTube and they showed me the utilization of exchanging apparatuses particularly in Binance.
There are some advices which i want to give to new traders are:-
1) He should analyse the market before he jump into trading.
2) Try to gain more & more knowledge related to trading , which is available on different platforms.
3) After gaining knowledge, he should practise paper trading(virtual trading), there are many platforms where you can do paper trading.
4) You should have your trading plan & follow that plan strictly with discipline.
5) Don't greed, if your targets are achieved then simple exit from the market or you can use trailing profit.
6) Must use stop loss , many traders hold their trades when it is going opposite to them & they think it will recover from here, as a result they exit from a market with a huge loss.
7) The most important thing is that you should try to save your funds , you should try try to avoid loss as if our money is safe , we can trade again.
You should wait for perfect entry, no need to do more trades but you need to do quality trades.
These are some points which will be useful to a new trader but these are beneficial when any person follow it properly...
1) He should analyse the market before he jump into trading.
2) Try to gain more & more knowledge related to trading , which is available on different platforms.
3) After gaining knowledge, he should practise paper trading(virtual trading), there are many platforms where you can do paper trading.
4) You should have your trading plan & follow that plan strictly with discipline.
5) Don't greed, if your targets are achieved then simple exit from the market or you can use trailing profit.
6) Must use stop loss , many traders hold their trades when it is going opposite to them & they think it will recover from here, as a result they exit from a market with a huge loss.
7) The most important thing is that you should try to save your funds , you should try try to avoid loss as if our money is safe , we can trade again.
You should wait for perfect entry, no need to do more trades but you need to do quality trades. These are some points which will be useful to a new trader but these are beneficial when any person follow it properly...
Study everything about trading. Be confident and have discipline and a plan to follow. That is all you need to have in order to be successful at trading. Learn how to manage your risk and capital and you are all good. Remember a big percentage of trading is about testing your patience and emotions never let yourself lose just because you lose one trade. And the most important rule DONT BE GREEDY.
first of all i'd give an advice to make your own checking list, which you will follow and consider credibility of each projet you plan to invest and trade in. as for now, defi projects are most hyped and interesting - as for me i prefer to choose dex projects
agree with you, and i also try to invest in defi - dex projects. as for me, have a nice future, because decentralized exchanges make a great hype and growing in volumes
first of all i'd give an advice to make your own checking list, which you will follow and consider credibility of each projet you plan to invest and trade in. as for now, defi projects are most hyped and interesting - as for me i prefer to choose dex projects
Simple but golden rule, " Never risk more than you can afford to lose".
Hey,
I would like to know some advice and information which will be really helpful in my trading journey. I have invested $500 for the start and I am willing to learn and invest more.
The advice I gave myself in these 2 weeks is that If any of my coin investment is going low in price, I just need to hold and wait for it to come back at the profit level.
I am sure we have traders here with vast experience.
Really excited to learn new things.
I would like to know some advice and information which will be really helpful in my trading journey. I have invested $500 for the start and I am willing to learn and invest more.
The advice I gave myself in these 2 weeks is that If any of my coin investment is going low in price, I just need to hold and wait for it to come back at the profit level.
I am sure we have traders here with vast experience.
Really excited to learn new things.
There are some few guys and gals who reached out to me saying that they want to get started in cryptocurrency trading. I asked them first if they want to trade everyday or just long-term holding. If they want to do day trader, I usually give them advice by watching Youtube videos about the basics of day trading, and read some useful information here on Bitcointalk.
Google and Youtube are our best friends in finding information that we want, especially in getting started for beginner traders. It’s just that I don’t have all the time to teach them, but I want them to be self-resourceful.
However it is also important to warn newbie traders that day trading is by far the most difficult way to trade, it is also the most profitable which is why it attracts so many people, but the difficulty of it comes from the fact that you need to know your system like the palm of your hand and even a delay of a few seconds between your decisions can make the difference between making profitable trades or losing money in the markets.
Before starting the trading, a beginner first need to learn the trading strategy. To study different markets are very much important. A beginner can follow the successful traders and learn how they tackle different obstacles and situations. Then he or she can start short trading with small amount of investment. Gradually he/she will gather knowledge and experience and can be a successful trader.
Training and patients are key resources to become a successful trader. I have read so many articles and realize that you need to study hard, the different market types and how to interpret them.
For beginner trader I can only give few advise
1 keep learning about market
2 gain your knowledge about coin
3 never take margin like 2x 3x or 50x
4 keep away from taking high leverage trading
1 keep learning about market
2 gain your knowledge about coin
3 never take margin like 2x 3x or 50x
4 keep away from taking high leverage trading
Adding here is the proper monitoring once put in exchange and plans to trade, we should be aware on how to take advantage on short term progress as it is what is in and in hype now and it is somehow risky to do, due to the fact that it's hard to determine whether that project is over or not yet, so taking consideration of putting amount limit and being able to monitor the news, chats and charts can help us trade properly thru hype, we should not only let the whales win during this hype.
Trading is the good way to make money but it is so risky for new traders. I will suggest new traders to trade on demo account. More market analysis is needed for being a good trader.
Same here, I strongly prescribe to do a novice trader. Being patient at the start and get into the market slowly. Various things will drop over various times. But, do your practice and wait until you have the money to throw in at the start.Newcomers usually come to the market without any skill to make money soon after greed so they are more at risk. I agree with you that the first thing a good trader should do is to analyze the market well. Having a good knowledge of the market makes trading risky. Also invest small amounts as the market is not stable no one can say when it will go in which direction even if the price of the currency goes down trader will not suffer much.
I believe that non of us here just come at this platform without any knowledge what crypto is. I do believe also that being a member of this forum could help you a lot by getting information in the past experience of our co members on how they deal with their first trading of cryptocurrency. And as always being a beginner in trading you must not only equipped with knowledge of what is crypto is but you should also study the market and how could you play the game without taking so much token to risk for.
The advice I gave myself in these 2 weeks is that If any of my coin investment is going low in price, I just need to hold and wait for it to come back at the profit level.
If you hold shitcoin then the price will continue to fall and it will be very difficult to return, the worst possibility is that the project will die and eventually become a scam,
If you are holding a major coin, then holding is the right decision and waiting for the price to rise again and reach a new ATH.
Major coins I mean are coins that are ranked in the top 20 of market cap in Coingecko or CMC.
Before starting the trading, a beginner first need to learn the trading strategy. To study different markets are very much important. A beginner can follow the successful traders and learn how they tackle different obstacles and situations. Then he or she can start short trading with small amount of investment. Gradually he/she will gather knowledge and experience and can be a successful trader.
Training and patients are key resources to become a successful trader. I have read so many articles and realize that you need to study hard, the different market types and how to interpret them.
Hey,
I would like to know some advice and information which will be really helpful in my trading journey. I have invested $500 for the start and I am willing to learn and invest more.
The advice I gave myself in these 2 weeks is that If any of my coin investment is going low in price, I just need to hold and wait for it to come back at the profit level.
I am sure we have traders here with vast experience.
Really excited to learn new things.
I would like to know some advice and information which will be really helpful in my trading journey. I have invested $500 for the start and I am willing to learn and invest more.
The advice I gave myself in these 2 weeks is that If any of my coin investment is going low in price, I just need to hold and wait for it to come back at the profit level.
I am sure we have traders here with vast experience.
Really excited to learn new things.
There are some few guys and gals who reached out to me saying that they want to get started in cryptocurrency trading. I asked them first if they want to trade everyday or just long-term holding. If they want to do day trader, I usually give them advice by watching Youtube videos about the basics of day trading, and read some useful information here on Bitcointalk.
Google and Youtube are our best friends in finding information that we want, especially in getting started for beginner traders. It’s just that I don’t have all the time to teach them, but I want them to be self-resourceful.
to make it profitable which is really very wrong.
When Im still new to the market then I cant really deny that we do love to rush things on making money but as soon you do able to experience things then you will gradually realize things.
For beginners out there then take your time to learn up even the basics first then try to minimize the risk as small as possible then it should be fine.
Hey,
I would like to know some advice and information which will be really helpful in my trading journey. I have invested $500 for the start and I am willing to learn and invest more.
The advice I gave myself in these 2 weeks is that If any of my coin investment is going low in price, I just need to hold and wait for it to come back at the profit level.
I am sure we have traders here with vast experience.
Really excited to learn new things.
I would like to know some advice and information which will be really helpful in my trading journey. I have invested $500 for the start and I am willing to learn and invest more.
The advice I gave myself in these 2 weeks is that If any of my coin investment is going low in price, I just need to hold and wait for it to come back at the profit level.
I am sure we have traders here with vast experience.
Really excited to learn new things.
There are some few guys and gals who reached out to me saying that they want to get started in cryptocurrency trading. I asked them first if they want to trade everyday or just long-term holding. If they want to do day trader, I usually give them advice by watching Youtube videos about the basics of day trading, and read some useful information here on Bitcointalk.
Google and Youtube are our best friends in finding information that we want, especially in getting started for beginner traders. It’s just that I don’t have all the time to teach them, but I want them to be self-resourceful.
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