What is your advised for being a trader? - page 6.

Inwestour

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Quote from: ShowOff on January 19, 2024, 09:12:35 AM

All of us are beginners in the early days of trading, so it is our duty to study and learn so that our trading plan runs smoothly. Each trader's risk tolerance is different, so it is not surprising that sometimes they have to accept large losses without reserve funds.

You are right, analysis is needed before starting trading. Strategy will help traders obtain satisfactory results, so everything is covered from starting to learn, improving trading skills, and maintaining psychology. Trading skills certainly vary, so this will determine how successful they are at trading.

Now, in addition to educational materials and very good books on trading, there are also many educational videos where you can watch how traders trade. For a beginner, not everything may be clear in the textbook, but everything will be easier to understand in the video.

You can find some good channels on YouTube and follow and learn from them. And gradually you need to strive to develop your own trading strategy. Maybe this is not the best advice and someone likes to learn everything themselves, this is probably also possible, but it will only take much more time, than with someone else’s help.

snowpega

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Quote from: Jonyshake71 on January 14, 2024, 03:15:34 PM

Trading is kind of risky thing where you can generate money and you also can lost the whole fund within few seconds. So it isn't recommend to trade if you don't know anything. But I don't support the idea "Doing trades with small fund and keep learning". Cause thus i made loss continuesly. i know a traders need to know technical, fandmental analysis, need to check news and many more. So What things do you follow and advice before open a trade?

Dear your whole statement is not so accurate because there are kinds of trading like feature trading or spot trading. Feature trading has high risk if you trade in it while trading in the spot has less risk to your funds because you can hold it until you get a profit from it and it is all upto you like you long period you want to hold it means losing of funds less but it also has the risk to your funds but not as you aforementioned lost in seconds haha.

So keep in mind that there are kinds of trading before giving statements although trading also needs good TA, FA , and good research about the project you are investing in. Many Thanks

ShowOff

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Quote from: ancafe on January 19, 2024, 08:28:26 AM

Quote from: Jonyshake71 on January 14, 2024, 03:15:34 PM

Trading is kind of risky thing where you can generate money and you also can lost the whole fund within few seconds. So it isn't recommend to trade if you don't know anything. But I don't support the idea "Doing trades with small fund and keep learning". Cause thus i made loss continuesly. i know a traders need to know technical, fandmental analysis, need to check news and many more. So What things do you follow and advice before open a trade?

For beginners it is recommended to study first before trading directly because trading is not easy to do because there are times when we will lose so we need to prepare ourselves to face it. Learn analysis, technical and other things related to trading so that when people want to get involved in it they better understand what needs to be done. Trading has a large level of risk and usually this risk can be psychologically disturbed so people need to minimize the resulting risk.

It's no problem to be involved in small funds for the first time, but we have to understand how to invest first, because apart from knowledge, experience is also needed so that someone can handle the risk of losing. Experience will make it much easier for someone to draw conclusions, but it must be combined with knowledge too.

All of us are beginners in the early days of trading, so it is our duty to study and learn so that our trading plan runs smoothly. Each trader's risk tolerance is different, so it is not surprising that sometimes they have to accept large losses without reserve funds.

You are right, analysis is needed before starting trading. Strategy will help traders obtain satisfactory results, so everything is covered from starting to learn, improving trading skills, and maintaining psychology. Trading skills certainly vary, so this will determine how successful they are at trading.

G_Besar

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Quote from: Bushdark on January 18, 2024, 07:01:52 PM

Trading is very hard and harder than what we could ever think. Making money in the cryptocurrency market is very hard so we need to work very hard for us to reach that level that we will be able to utilize and make provisions for ourselves.
There is risk in the market so we need to know what we are doing so that we need take too much risks that would affect us losing more than we have earned in the market. Being a trader could be easy to talk but very difficult I'm reality.

When a trader is well aware that trading in the crypto market is full of risks that he must bear himself, he should make any preparations before trading any crypto currency in the market. Examples include being able to withstand losses if one has not yet made a profit or is still unlucky with one's trading and also having to provide reserve funds for one's life so that one does not immediately experience stress if one experiences large losses through one's trading. Although all traders before starting any trading have first prepared their own mental and knowledge.

ancafe

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Quote from: Jonyshake71 on January 14, 2024, 03:15:34 PM

Trading is kind of risky thing where you can generate money and you also can lost the whole fund within few seconds. So it isn't recommend to trade if you don't know anything. But I don't support the idea "Doing trades with small fund and keep learning". Cause thus i made loss continuesly. i know a traders need to know technical, fandmental analysis, need to check news and many more. So What things do you follow and advice before open a trade?

For beginners it is recommended to study first before trading directly because trading is not easy to do because there are times when we will lose so we need to prepare ourselves to face it. Learn analysis, technical and other things related to trading so that when people want to get involved in it they better understand what needs to be done. Trading has a large level of risk and usually this risk can be psychologically disturbed so people need to minimize the resulting risk.

It's no problem to be involved in small funds for the first time, but we have to understand how to invest first, because apart from knowledge, experience is also needed so that someone can handle the risk of losing. Experience will make it much easier for someone to draw conclusions, but it must be combined with knowledge too.

Kelvinid

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I'm not sure if this will make your trading journey successful but this is what I did;

- I'd focus first on knowing what trading is all about, I'd rather just forget how to earn a profit but try multiple strategies in order to find out what is best and what will work for me.

- I'd give time to develop my trading skills and analytic capability, and I don't rush.

- lastly, I accept advice from others and gain ideas from their teaching.

I know it won't work easily but if we want to become a successful trader, then we must have to do it step by step until we get the right trick.

AicecreaME

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If you're a beginner, always know your limits.

Only use small amount per trade if you're not yet comfortable with your skills, to avoid bigger losses in the long run while you're still learning. Know your limits in trading per day, don't ever chase your losses thinking that you can't gain back what you lose in a certain day. Take a break, don't push yourself to take in all the trading information or knowledge you should know in a very short period of time, patient is always the key.

Baki202

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Quote from: Vaculin on January 18, 2024, 04:29:01 PM

There’s always a lot of considerations before one should decide to trade. Aside from learning all the fundamentals and the technicalities in trading, it’s also important that you should learn to trade based on your trading plan. Set your trading plan first before you risk in trading, and always risk on what you can only afford. With that, you will never suffer from too much consequences when trading.

While fundamentals and technical analysis are important, it’s also crucial that you start trading once you gained prior skills, that is learning trading first without using real funds.

trading is another profession on its own and their is more to understand before going into it and see a lot of trading academics now i dont think it is also a bad idea for does of us that are interested in trading and have heard from people that have registered for does academy and it does not look bad at all because he said they even plan on teaching them how to reduce risk while trading. and been that its a school you will learn a lot of things from a lot of people and talking about trading planning is one good initiative and as a trader you have to create means that will make trading easy and risk free.

Bushdark

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Quote from: Maslate on January 18, 2024, 04:09:54 PM

Trading is not a piece of cake so you have to make sure that when you trade, you have gained already the necessary knowledge and skills that will make a trader successful and profitable. I’m not only talking about fundamental or technical analysis, but trading also needs the right mindset and attitude so that when trading goes out of plan, a trader will never put an end to his trading career but will continue to motivate himself more to learn.

Also, don’t trade if you’re not ready to lose. No matter how good or experienced you are in trading, there are still inevitable losses that you can’t avoid. So trade and be ready to lose, that’s the only way you’ll stay trading for long.

Trading is very hard and harder than what we could ever think. Making money in the cryptocurrency market is very hard so we need to work very hard for us to reach that level that we will be able to utilize and make provisions for ourselves.
There is risk in the market so we need to know what we are doing so that we need take too much risks that would affect us losing more than we have earned in the market. Being a trader could be easy to talk but very difficult I'm reality.

Vaculin

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Winding down.

There’s always a lot of considerations before one should decide to trade. Aside from learning all the fundamentals and the technicalities in trading, it’s also important that you should learn to trade based on your trading plan. Set your trading plan first before you risk in trading, and always risk on what you can only afford. With that, you will never suffer from too much consequences when trading.

While fundamentals and technical analysis are important, it’s also crucial that you start trading once you gained prior skills, that is learning trading first without using real funds.

Maslate

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Trading is not a piece of cake so you have to make sure that when you trade, you have gained already the necessary knowledge and skills that will make a trader successful and profitable. I’m not only talking about fundamental or technical analysis, but trading also needs the right mindset and attitude so that when trading goes out of plan, a trader will never put an end to his trading career but will continue to motivate himself more to learn.

Also, don’t trade if you’re not ready to lose. No matter how good or experienced you are in trading, there are still inevitable losses that you can’t avoid. So trade and be ready to lose, that’s the only way you’ll stay trading for long.

ndutndut

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Quote from: Jonyshake71 on January 14, 2024, 03:15:34 PM

Trading is kind of risky thing where you can generate money and you also can lost the whole fund within few seconds. So it isn't recommend to trade if you don't know anything. But I don't support the idea "Doing trades with small fund and keep learning". Cause thus i made loss continuesly. i know a traders need to know technical, fandmental analysis, need to check news and many more. So What things do you follow and advice before open a trade?

If you know Traders have risks. So the advice seems to be that failure is the best lesson and continuing to be willing to learn is also important in trading. even though you already know how to guess market direction and you have mastered 50% of your trading knowledge. However, your emotions and patience alone are not enough to achieve consistency in trading, so mentality is the key.

Therefore it is important for you to look for news, history, analysis and fundamentals so that you know more about the probabilities. How much is the loss, how much is the profit all refers to the data above, and when the momentum arrives, we don't need to hesitate anymore because there is already a data reference. Become a profitable trader and be on the right track that is not only money oriented.

RockBell

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Quote from: Zoomic on January 18, 2024, 02:20:39 PM

Trading is not for the faint hearted. It is obviously not for everyone, only those who are prepared to take risks can survive in the industry. One of the worst mistakes any investor can make is jumping into a project you have no full knowledge about, same applies to cryptocurrency traders. Most traders will easily jump into a market they have no clue about, this is a wrong move. Before you trade, you study your market to know what's obtainable. It is also because of these poor understanding of what cryptocurrency is all about that makes many believe they can trade excessively to prevent losses. Buying and selling frequently does not only limit their loss (as they claim), it limits even the profits.
Trading is all about having the right knowledge and when or where to apply them. Nothing good comes easily.

Trading involves a lot of mental work and you must be ready to pay attention to it when ever you are trading because i learn from other traders so as just to improve my self in trading and its is clearly not for everyone because you see a lot of people having interest to trade but are not metal prepare to start trading because if you are not mentally prepared you will face a lot of challenges and you might not be able to survive it. but if you ready to learn and then you are prepared for the worst because losing money, you can not escape that. and people are jumping into projects and are not ready to put in their best into it because aside trading anything finance needs understanding and many more. and we should always advice people that are just about to start trading. and trading their must be an understanding of the market having skill to understand the market by doing analysis. and with all this it will make everything soft and even when you face troubles you wont feel it that much because the knowledge that have already been required.

tvplus006

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Quote from: Jonyshake71 on January 14, 2024, 03:15:34 PM

Trading is kind of risky thing where you can generate money and you also can lost the whole fund within few seconds. ... So What things do you follow and advice before open a trade?

The most correct advice would be this: If there is such an opportunity not to trade, then it is better to refrain from trading. But we didn't come here not to trade) Therefore, when trading, stick to risk management and be sure to put a stop loss. This will help to save part of the deposit.

Zoomic

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Trading is not for the faint hearted. It is obviously not for everyone, only those who are prepared to take risks can survive in the industry. One of the worst mistakes any investor can make is jumping into a project you have no full knowledge about, same applies to cryptocurrency traders. Most traders will easily jump into a market they have no clue about, this is a wrong move. Before you trade, you study your market to know what's obtainable. It is also because of these poor understanding of what cryptocurrency is all about that makes many believe they can trade excessively to prevent losses. Buying and selling frequently does not only limit their loss (as they claim), it limits even the profits.
Trading is all about having the right knowledge and when or where to apply them. Nothing good comes easily.

Uruhara

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Quote from: Jonyshake71 on January 14, 2024, 03:15:34 PM

Trading is kind of risky thing where you can generate money and you also can lost the whole fund within few seconds. So it isn't recommend to trade if you don't know anything. But I don't support the idea "Doing trades with small fund and keep learning". Cause thus i made loss continuesly. i know a traders need to know technical, fandmental analysis, need to check news and many more. So What things do you follow and advice before open a trade?

As you know, a trader needs to understand various types of analysis such as technical and fundamental. But what is more important is that a beginner must first know the risks involved in crypto. Because crypto trading clearly has very large risks and is accompanied by equally large potential.

So if you are not ready for the risks then it is better not to enter crypto trading. After knowing the basic things about crypto and the basic things in crypto analysis, you still need to practice trading. Because a trader still has to build experience to strengthen his mentality and understand the market. Sentimental analysis can even be understood if we already understand the market and have more experience that we can use as a lesson. Apart from that, traders must also understand Money Management and so on. To avoid big losses and control the financial limits we can use in high risk trading.

sujonali1819

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It's a common question. It's better to use the search function and read already existing topics about trading if you really need help. There are a lot of topics about trading you will find.

A few days ago I commented somewhere about it. I am just qouting here to read. Hopefully, it will be helpful for you.

Quote from: sujonali1819 on January 13, 2024, 05:20:55 AM

1. Learn and gather more knowledge about crypto.
2. Set a budget for trading.
3. Always start from lower investment
4. Always try to divide your investment into several parts. Don't invest all in one
5. You should also focus on Risk management strategy.
6. Stay updated with the crypto news
7. Control emotion during trading.
8. Learn about technical analysis
9. Always think about long-term investment.
10. Don't panic, don't be greedy, and always try to exit the trade at the right time.

Rockstarguy

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Quote from: Jonyshake71 on January 14, 2024, 03:15:34 PM

Trading is kind of risky thing where you can generate money and you also can lost the whole fund within few seconds. So it isn't recommend to trade if you don't know anything. But I don't support the idea "Doing trades with small fund and keep learning". Cause thus i made loss continuesly. i know a traders need to know technical, fandmental analysis, need to check news and many more. So What things do you follow and advice before open a trade?

As a beginner that is still learning about trading I don't think it is advisable to start trading with huge sum of amount, trading is all about learning and experience. Starting trading with small amounts of money will give one a good knowledge how to handle a huge sum of money in trading. Another thing you also need to consider in trading is that trading with a huge sum of money is not a guarantee to make better profit, the most important thing is to trade with the amount that you can afford to lose.

As a trader it is advisable one needs to understand trading very well, because rushing to make money from trading fast can end one be at lose at the end. Learning trading and having a proper knowledge of trading helps in trading alot , trading is not something that can be done with a shallow understanding but requires a good understanding to handle it.

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Quote from: Jonyshake71 on January 14, 2024, 03:15:34 PM

Trading is kind of risky thing where you can generate money and you also can lost the whole fund within few seconds. So it isn't recommend to trade if you don't know anything. But I don't support the idea "Doing trades with small fund and keep learning". Cause thus i made loss continuesly. i know a traders need to know technical, fandmental analysis, need to check news and many more. So What things do you follow and advice before open a trade?

Before trading you have to understand the market positions if you trade in the right coin then there is no possibility of losing funds quickly. Another thing is to start with a small amount in the beginning of the trade if there is a loss, go over a small amount and with this you will be able to know and learn better about the coins of the market. If you don't know anything about the trade the risk is high if you do it with a large amount.

irhact

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Quote from: Jonyshake71 on January 14, 2024, 03:15:34 PM

Trading is kind of risky thing where you can generate money and you also can lost the whole fund within few seconds. So it isn't recommend to trade if you don't know anything. But I don't support the idea "Doing trades with small fund and keep learning". Cause thus i made loss continuesly. i know a traders need to know technical, fandmental analysis, need to check news and many more. So What things do you follow and advice before open a trade?

You can't lose all your money in just seconds if you know how to trade and use stop loss. Stop loss prevent you from losing more than you'll set on your account. If you bought Bitcoin at $45,000 and set a stop loss at $40,000, you can only lose $5000 for that trade if the market dumps to $35,000 due to the stop loss that you set at $40,000 and that's why stop loss is very important when trading and also learning how to trade is important as you'll get taught this when learning.

Some individuals didn't learn how to trade therefore they don't know how to use stop loss or manage their money properly. They're just trading like they're gambling and that's why they'll keep losing their money. My advice for those individuals that want to become traders is for them to learn how to trade very well before they start trading so they don't lose everything they had in their account as they don't know risk management.

Topic: What is your advised for being a trader? - page 6. (Read 1434 times)