Topic: What is your advised for being a trader? - page 2. (Read 1329 times)

I laugh when I read conclusions like that about trading. I laugh because loss is something that cuts across the entirety of existence in all that man does. It's not just about online trading alone, even traditional offline trading faces same; even structures like building projects face same. We see buildings collapse, meaning everything put into them come crashing too.

It's the same way nobody walks into a theatre and takes up surgical tools to carry out surgery on patients or goes driving without passing through driving tests. If anyone does any of those, the expectant result, we know what it should be. It's sad that people think trading that should guarantee them earning for life shouldn't be taken seriously. They think it's something they can get a mastery of within a few months. No, it doesn't work that way and that's why there are more losers than profitable traders.

Making yourself that wary about fundamentals is also a good approach on which we know that TA+FA would really be always something needed up to be combined if its available. We do know that not all the time
this market would really be just that depending into TA but also there would really be those news that will really be making out such effect on the entire market. Just like the rest been saying that you would really be definitely be needing up for yourself to be that versatile on whatever the things that you would really be able to encounter and this is something a very recommended kind of trait for a trader to have.

You should really be that making yourself that get prepared for whatever things that you would really be able to encounter. Make back up plans from time to time because
we do know that this is something that you cant really be able to handle and guess out all the time.

Always keeping up to date with the latest news or information is indeed an important capital in preparation before trading and during trading. because analysis based on fundamentals always starts from gathering information. And usually the person who gets the information the fastest is the person who has the greatest chance of making a profit. As long as he can enter at the right time and leave at the right time. And what a trader must prepare is also emotional and financial management. And all of that is to maintain financial stability and mental stability for the trader himself. And I agree that greed is the thing that should be avoided the most. Because there are many cases of traders experiencing big losses due to greed.

As I'm not a successful trader till now, so won't have that much advise to give you. But as i experience, trading is trading and you need to have a mindset of loss in trading cause anytime situation can be changed, your easy trading could become trun into complex situation. And yeah, emotion is the main thing that you should need to control. It will force you to sell in lose. And patient is also important that plays vital role in trading. Without it, you can't profit. So you need to learn these things besides gaining trading knowledge

A good advice for newbies:
 - stop dreaming about easy money, it never exists in real life
 - stop assuming that we earn a profit without knowledge of trading, it is impossible
 - lastly, don't rush instead, take time to decide

For some people, they put themselves to the test and try trading. It is very common to see and we just push ourselves to learn the basics of trading after losing. This is a wrong practice by most but I see the reason why it triggers such a situation because of attractive words coming from influencers saying there is easy money in trading. Quite not know how difficult it was in real life.

Before anyone chose to be a trader, we must have review our risk and what we are actually looking for to get as result.
It is good to us to think very well before we ever going to learn how to trade because this would be the driving force that would help us to get to where we intend to get. It is good for us to review our decisions too so that we can earn more.

Yes but all people who have knowledge or those who have succeeded in becoming professional traders always start from a beginner who does not know anything about the world of trading, which means it is only a matter of time and when you are able to learn seriously then one day you will also be able to become like them professionals who have considerable knowledge about the world of trading, so it does not mean that trading is not for beginners because all traders always start their involvement as a beginner.

Trading is always about the activity of risking decisions that you can afford to lose at the end of the session, and it's clear as you say that no one can ever guarantee themselves a profit in their trading engagements. Trading is a risky part-time job and it means that you can only really make some pretty good profits to help improve or increase your financial strength when you are willing to learn the ropes, because by learning you will know what to do and what to avoid such as greed, and this will prevent you from losing a significant amount of money and you will be able to make some consistent profits as a reward for spending a lot of time learning.

Expect something like this on which you should really be knowing that its normal to have those loses since we are just still new and not really be able to know on what are the things that do happen.
You do lack knowledge, experience,awareness, emotion handling, psychological aspects and other stuffs on which we do able to say that it is really just that normal since we arent that all knowing
being on which there are really things in life on which you would really be needing up to be wary on how you would really be able to deal up such things.

Advised on being a trader?

1. Learn up the basics
2. Minimize risks as much as possible
3. Emotion management
4. Fund management
5. Dont be greedy and knows on when to take profits

You would really be needing up such stuffs along the way and you soon realize it on the time that you would be stepping your foot into this market.

Well, the truth is that trading doesn't give us good results as we start but most are losses. If we are the type of trader who easily gives up because of experiencing losses, the more possible we never succeed in our life. Well, some people will say that trading can easily be learned as they just think that it is all about buying and selling. They are right but it never works that easily as we can't just simply buy/sell without any market analysis and this makes it hard for most traders. Many had entered trading without such knowledge which is not going to wonder why many newcomers fail and quit.

We just know how hard it is when doing an actual trade. Some traders become successful but yes, they are also suffering losses multiple times before they get this position.

Yes, my advice on being a trader you just have to focus very well and do a lot of research and analysis I have been trading for a while now and I have had a lot of experience a lot of losses and profit as occur in my portfolio but the thing is that if you are not ready to take the risk and to be Patience you can make anything good out of trading, and don’t actually be greedy. During trading greedy is one of the problem of traders a lot of things traders should know and it’s also good to ask expertise and also follow the current news and trend consigning Trading

Trading is very risky for newbies but trading is not very difficult for those who have knowledge about trading. It is normal to lose profit while trading because no one can guarantee before starting trading that he will make profit from trading.  They will never be able to hold on to the money and risk all their trading money due to excessive greed.

Trading requires long term planning and preparation before someone should take the risk in trading. It’s actually hard for starters but if you push yourself to trade more consistently despite of some affordable losses, that will make you become more experienced trader which I think could be a lot helpful to manage your trades in the next days. However, experience and knowledge are not enough. One should develop more skills and strategies to win a trade, thus learning the basics through technical, fundamental and sentiment analysis are very vital. If you can have that along with patience, most likely you will end up a successful trader.

The only way we can keep making money from trading is for us to keep learning andokking for a better way for us to make money.
Trading is very difficult and we don't have to allow anyone to deceive us telling us that trading is less hard or very easy to make money in market. Once we have learnt how to trade very well, we need to make sure that we look for ways to get trading books and ebook that we can always read to keep our spirit high while learning more about trading.

Well spoken mate, and I know this because am also a victim of those of set person who taught that because I have traded a couple time and had profits it made me a good trader, well that's completely a lie because the world of trading is very technical and you have to be on the edge of complete learning before you can ever be ready for trading.

Not too long ago, I was discussing with a friend who is actually a real trader and by that I means knows the in and out when it comes to trading and I told him am also a trader too and he doubted me and he asked a few technically questions of which I failed to answer and he said to my face that am far from being a traded and I should probably stop now that the habit haven't yet ruined me.

I won’t advise someone to be a perfect trader since no one is capable to do that. But I have to encourage a trader to maximize experience in the market and learn from other traders experiences so that they can avoid losing too much of their funds which most happen to newbies who keep exploring the market without sufficient knowledge and trading experience. However, there’s is no trader that is free from losing, as those who have been successful traders these days have experienced limitless losses while they are starting in the market.

One should learn alot about both fundamentals and technical as a trader. Make sure to practice on a demo account before using your real funds to avoid looses ,lastly use a very good risk management strategy so that your profits will always be more than your looses.

Regardless of investment and trading without proper knowledge there is a risk of losing the amount invested. I agree in trading it is better to start with small amount then loss will go away in little time. If you invest a large amount first if there is a loss then the person will become depressed. Need to be able to make the right decisions or develop the best ones in the present that's why learning with little should go to the big.

Then by that logic if you invest with big amount then you lose it, then the impact to you is significantly higher and it might lead you to quit trading if you can't manage that high risk and just jump straight up with big capital. I'd recommend if you are new into trading then just learn with small amount first, so your motivation isn't that really affected if you lose and you might gain knowledge and experience by doing it small first.

I might say the same advice for those that are trying to be a trader. They're going to milk a lot of money from you when you're ignorant of the sides of the crypto market. Even the news that you can get freely, they're going to send it to you just for them to have something to signal to you.
That's not even worth it at all and that's why if you happen to see people advertising some signals group, avoid them because they're not going to help you grow on this market and what they'll take from you is your money and after that you're a thrash to them.

Don't start with futures trading if you are new to the trading world. With futures you are increasing your risk considerably and it could be that your position gets wiped out very quickly. Sticking first only to the spot market is much easier to make profits, even if those profits are going to be smaller than what you could have made with futures. As long as you directly own the underlying asset itself you are not at risk to lose all your funds in a few seconds. Something like that only happens when you trade high assets like options, futures, CFDs, etc. or in gambling. Without any prior experience or knowledge of trading, the first step should always be to learn as much as possible about trading. But this is only going to get you so far, you need to get real trading experience to get better at it. For that I would recommend you start very small and spread your money out across multiple projects. Like that you will get the most experience from your money. If you are losing in trade, don't immediately just sell your position again to realise the loss. Make sure you understand where the loss is coming from. Is just a general market decline? Or is something wrong with the project itself? Did you make a mistake in your initial research? Maybe it was just a bad week for the whole crypto markets, and your investment is going to turn around when the markets rise again.