What advice will you give to a beginner trader? - page 4.

LouVandetta

sr. member

Activity: 602

Merit: 253

Quote from: southerngentuk on September 14, 2020, 01:41:37 AM

2. only use binance, not anywhere else like uniswap

This is not a wrong advice but I think it's a bit unfair to those who likes using other exchanges. I know that binance is the best exchange, or so I heard and I agree on that part. But we also have a lot of other good markets. Haven't tried uniswap so I can't say anything just yet.

Well, being a trader is not as easy as eating candy or something. You need patience and everything. Every steps you take will be reflected on your trading. Practice makes perfect and so experience, gain lots of them and you should know where to go with your trading.

southerngentuk

sr. member

Activity: 1316

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Sugars.zone | DatingFi - Earn for Posting

1. start with a small money

2. only use binance, not anywhere else like uniswap

3. Do your own research

4. don't follow the hype

5. stop greed and always be happy with even small profit, profit is profit!

Pamadar

legendary

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Quote from: peterpanda on September 12, 2020, 02:58:54 PM

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.

If you want to start things right then doing this is the right thing to do.

Practice and check if your attitude is capable for this business, though there's a big differences between real money and demo
account but the experienced with the market movement still the same, if you are comfortable and you see that you got the chance
then use your real money and experienced the actual actions.

Yatsan

legendary

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Leading Crypto Sports Betting & Casino Platform

For a starting trader, you must first focus on learning about certain things related to trading such as the currencies you wish to trade to better get familiarization on such coins to also know what suits your budget and preference. Learning must be the first stage you must know and acquire before doing an engagement in trading. You must equip yourself first by lots of knowledge about the market and how does trading works so you would not end up wasting your money and time. Keep yourself updated into the latest news and happenings about different markets if you wish to trade on both crypto and fiat. Start at small base to test your trading capacity and challenge what you have learned from the sources you read or watch for acquiring knowledge at the first stage. Just start slow and do not put all of what you have. Just put what you can afford just like doing investments.

jostorres

hero member

Activity: 2464

Merit: 585

As a beginner there are lots of things you will have to learn. The first advice I would give to a beginner is that they should start small. I do understand everybody has their personal problems that they are dealing with and they seem not to be able to have patience and focus for a while, because they want to make money and get rich quick and start tackling their problems, but slowing down and focusing for sometime might really help you a lot in future, best to endure now and enjoy tomorrow.

Like a newbie that was asking in the altcoin section of the forum how he’s going to get a hundred times of his investment, he’s in a hurry to make the money and forgetting that he should calm down and learn some things first. The next thing I’d like to say is that you should avoid cryptocurrency that are liquid, with these ones there are no chance of you hitting a big return on investment.

NavI_027

full member

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Merit: 186

Quote from: Hypnosis00 on September 12, 2020, 06:56:47 PM

Quote from: peterpanda on September 12, 2020, 02:58:54 PM

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.

They'll never find it hard or easy if they never have tried it. Of course, no one gets perfect at the very beginning, we all suffered the consequences that we afraid of but keeping these mistakes makes us learn and improve ourselves and strategies. Because if we feel about worries and doubts about ourselves, definitely we never have the courage to take the risk as well.

I agree. Once you're done studying the theories of trading then you had no choice but to do the next step which is actual application. That is where you will learn even more. Yeah! There is a high chance of making mistakes along the way but don't stop. Failure is a part of learning so be courageous

. As long as you are following the "Buy low, Sell high" principle then everything is gonna be alright.

My advice for new or even those feeling new in daytrading, invest with bitcoin first. Don't suddenly jumped on defis or new sprouting tokens because they are more complicated to handle.

Hypnosis00

sr. member

Activity: 2422

Merit: 343

Quote from: peterpanda on September 12, 2020, 02:58:54 PM

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.

They'll never find it hard or easy if they never have tried it. Of course, no one gets perfect at the very beginning, we all suffered the consequences that we afraid of but keeping these mistakes makes us learn and improve ourselves and strategies. Because if we feel about worries and doubts about ourselves, definitely we never have the courage to take the risk as well.

Trading needs commitment and strong minds. These things will help us to decide the right thing to do.

peterpanda

full member

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Merit: 100

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.

Krislaw

sr. member

Activity: 1204

Merit: 388

That's right you need some patience when you're investing and don't just wait for it to have a decent price, also look for any development or market movement of the coin so you will know what entry price you will input. And just a suggestion don't put all your money into one investment make sure to invest it in different coins so you have a variety of assets in case the one didn't do well.

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

If you are just starting to trade, then you should not use margin trading and futures. Block these sections and never go there in the coming years. Margin trading and futures are designed for experienced traders who, despite their experience in trading, also often receive losses.

TIDOVEE

sr. member

Activity: 1246

Merit: 255

The journey has begun, and your determination has something to do about you becoming a good trader. Trading involves risk, however optimistic you may be prepare to loose once in a while, get Connected to virtual portfolio, trading is easier now a days, ofcourse you can trade with just an app, I will advice you not to start trading for people yet, get it right yourself first. You may also get more tips on how to be a successful trader on youtube...Don't stop enquiring.

Bitlover10

full member

Activity: 293

Merit: 105

Love is all

I can only give few advise to new traders. First which is very important that don't be greedy in your trade and only choose good coin
Don't enter in hype or fomo. Never buy at top. Also don't take leverage trading and be in spot trading because if you took leverage it can give you totally liquidated. Also research before investing any coin. So these are few things a new trader should follow for risk management.

RealMalatesta

legendary

Activity: 2338

Merit: 1124

Learning how community reacts is a lot more important than learning how the charts are moving. People are the ones that changes the prices, they buy and sell so they do end up making the changes in the prices, which means you need to learn how to read people and market sentiment.

If you see something that could change people's minds and make it go down, react that way, if you see how charts shows "it should go down" do not believe the charts, check what people think about the chart, that is a lot more important. You may think that a chart that shows price should go down, should mean people will sell, but sometimes that just means people will buy thinking it is bottoming out soon. People are wild, they are usually unpredictable, try to guess what they will do.

chip1994

sr. member

Activity: 868

Merit: 251

HEX: Longer pays better

If you are a holder, I advise you to practice the virtue of perseverance as well as confidence in your decisions. There were many times when I decided to be a holder but didn't believe my judgment from the start. To become a successful holder, you need to determine the level of loss as well as the profit you will sell if the price goes up that range. Do not be too blind to listen to fomo of those who come before. Those are the experiences that I want to share with you, I have been a holder for 5 years, hope it helps you.

wxa7115

hero member

Activity: 2702

Merit: 704

Quote from: nasipadang on September 08, 2020, 10:52:39 PM

Quote from: ImThour on September 01, 2020, 11:22:30 PM

...

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.

...

Don't do the above, this is very risky for beginners, it would be better if you want to invest so just buy top coins and learn market movements with your technical analysis knowledge. If you want experience then you can do it because who knows it will make a good profit, but I have to say that the risk is huge and takes up a lot of your time. Maybe my advice is to enter a market like xrp, btc and some other altcoins that have manipulative markets. The market will force you to move with dominance demand, this is very good for trading experience and you can understand to choose a good market, this is a bit extreme but in my opinion it is worth it. While here many users have already provided advice on trading basics, strategy and management planning.

I agree, the idea of holding your coins no matter what could apply to bitcoin and maybe to ethereum as well but I will not apply that strategy to any coin that has less than five years in the market, it is simply to risky for any investor and as you may guess that strategy is even more risky for newbies that do not really know what they are doing.

But I know that those newbies are never going to listen to that advice, despite their lack of knowledge they are full of confidence and they think they know better and while that kind of attitude can be positive in many aspects of your life when it comes to trading for the most part it leads to huge losses.

Ayiranorea

sr. member

Activity: 1246

Merit: 255

Leading Crypto Sports Betting & Casino Platform

Learn how to predict the market, because more the precise prediction more will be the profiting out of different trades. Know the technical terms and follow the experts in trading. This will help you have an initial point from which you need to create your own portfolio for trading. Once you develop confidence try to do trade with small funds, and the continued practice will help you move forward to the next level.

QEthelbert

newbie

Activity: 6

Merit: 0

Learn about technical analysis, and based on behaviour of the market make your own trading strategy. I am focused on a short term trading, because this market can make too huge ups and downs on a long term

wiss19

sr. member

Activity: 2226

Merit: 344

I will advise a newbie to avoid scam exchanges and all these small exchanges that are not yet known by anyone.

It’s best to stay safe since they are still starting and only be making use of exchanges that are already very popular, because if you keep going for any exchange you see, you will just end up putting your money in the wrong places. And they should be aware that there are websites that are owned by scammers who try to imitate the real ones so that they can lure noobs or people who are noticing to send money to them, and it’s not just your money that will be ending up in their hands, but your information as well.

Salauddin1994

member

Activity: 868

Merit: 15

It is never possible to trade without skills must have adequate knowledge and ideas before trading. The best advice for a beginner entrepreneur is to control your emotions there are risks involved in trading so don't be discouraged and try to move forward patiently. Success is never achieved without patience and hard work you have to learn the trading techniques. Try to update yourself over time understanding the difference between trading signals will make trading much easier.

djmixen

member

Activity: 518

Merit: 11

Quote from: ImThour on September 01, 2020, 11:22:30 PM

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.

Since you are new here in crypto space and willing to start your journey in trading skills, I can give you a platform where you can practice trading and also can earn too. If you wanna know how? here is the link https://nominex.io/?r=21375 you can sign-up there for free, once you have an account over this platform you can participate in the Demo arena where the platform can give you a balance of 10, 000$ and you will see this in your balance, but can't able to withdraw it. All you need to do is to use that balance in any of the coins there that you want to trade-in. Once you are one of the participants in the Demo arena you need to become one of the top 30 traders so that you can receive a reward.

Topic: What advice will you give to a beginner trader? - page 4. (Read 1315 times)