Topic: What should newbies do in trading? - page 2. (Read 1576 times)

Good to see that you have at least trying to learn about trading  some of US they even don't know the name of Technical Analysis and what is psychology effect on trading. Anyway even then you have a  acquire some knowledge about trading I will say that there is still the risks so in this that  much fund what you can afford to lose. I can also start with Bitcoin long term strategy like DCA method which is with low risk

True however we must build a foundation first by learning various things related to the world of trading at the beginning of the involvement, never think about making a profit first because in the end you will most likely have the same fate as some people who eventually fail and even waste a lot of money due to losses, and that's what will happen when you come in a hurry to make a profit, however everything must be done by having a good basic understanding along with having the intention and determination along with strong consistency in terms of learning which will add to our insight and knowledge related to the world of trading and that is our initial capital or foundation to make a profit. Like the parable you said above that a newborn baby should be started by giving them milk because their stomach is not yet strong enough to accept some common foods such as those consumed by adults in general because it will endanger a baby and obviously this can be equated with a beginner who is just entering the world of trading where the initial stage should start with something not too significant, meaning don't jump straight into the market and better understand and learn many things related to the world of trading, otherwise you will only waste money and time.

if you want to make a profit in Trading you don't need to rush into trading without understanding the concept many people today who is rejecting threading it is because then join trading with that learning and also read the articles of trading before the establish to trade on their own when you understand the concept of trading there's nothing we make you to lose more expectation because you have already noticed the basic format of it and you cannot allow yourself to be victims that lose in trading constantly..sometimes what makes people to lose in Trading is because of lack of understanding of its concepts.

the primary assignment of someone who want to venture into trading is to understand the concept of trading first and they also make a serious practice of trading before,  venturing into trading, its obvious and understanding that without your commitment in trading you will not understand the gist of trading, actually trading when you don't know the concept fully is at risk, when you have comprehend trading very well not will make you not to profit on it, that's my own ethics towards trading.

What a newbie should know before trading is that he should go into the background of the trading and know all the fundamental technical analysis so that when ever you come to trading, you won't find anything too difficult. Because most people's fail when they come trading it because they're lack of knowledge about it and also experience, that's why it's know good to advise a person who does not engage his or her and familiarity with trade to start it, rather than give advice to invest in Bitcoin or some of the coins that you see that you can afford to buy so that even when you come losing, you won't lose so much of your money.

Morever, I can even say that people who lose in trading are mostly biginners, because they wait to have proper knowledge about trading before starting and don't want to study the risks that are involved. That's why they mostly fall victim of losing.

It is a must to learn first, beginners are required to have sufficient knowledge. The problem is many beginners directly try to trade because they assume they can learn gradually by practicing the real trading. Unfortunately, many beginners failed to do this way because they don't understand the proper way for trading. Beginners must understand that there is a time for learning and there is a time to start trading.

Demo account won't improve the experience. It is just a tool to demonstrate what the basic things to do in trading.
If we want to gain experiences, we must get it through real trading. But before thinking for gaining experience, it is better to ensure we have enough knowledge firstly.

Of course there will be a high chance for losses if the beginners have lack of knowledge. How they can succeed if they don't know which the proper strategy to do in trading? Moreover, the market trend is easy to change, beginners with lack knowledge will panic and can't deal with the unpredictable situation. Most of them probably decide to exit or sell for losses.

Reading articles concerning trading and and facing the reality of trading which is trading with money are not the same. You can get the whole knowledge from reading books about trading but it doesn't makes you if you starts trading you will start making good profit. No matter what you have read to gain knowledge in trading never use big amount of money for trading as a beginner.  Start with small amount and learn , get experience about the market.

Amount of time you trade and your experience will teach you more than what you have gotten from trading articles by reading. Beginners should not be too fast to use big money to trade, using small amount of money is still part of learning trading. Using big amount of money to start trading is a waste because you will still definitely lose because of lack of ideas and experience.

frankly speaking trading might not be for everyone, but business too, what can someone do with the remaining amount of money, if its dropshipping, most of people prefer direct buy towards the seller by importing goods dropshipping is not a good profitable business anymore.
if its other business, i doubt that money will suffice, best bet would be investing in a new coin that might be risky but find one that have good quality then there's chance of turning that money into bigger money to start out business.
I doubt with that amount of money you can kick start any business anyway, definitely investing is better here, trading if what a person experiences are just loss and loss one after another maybe they don't suit trading and might not have the talent.

I do agree that would make people love the demo idea a lot more, but still there is a possibility that they may do crazier stuff than they would normally do if they focus on that. Someone who would take their own money seriously, could just go 100x leverage on something to just get the first place, and that is not all that much normal, I would say it is actually quite a bad idea in the end.

I realize that sometimes it is not that easy to figure out what to do when you are a newbie, but demo doesn't guarantee anything. Just like in life, this all depends on if you are a person who can take demo seriously or not, it depends on the person. Some people would use it and be great, some people would use it and not really do well at all.

I added that Newbies should really focus on learning about crypto or bitcoin at the beginning. Be patient and diligent in learning about trading first. Don't even think about trying actual trading.

It seems that the baby should only be fed milk and not meat first because it will not eat properly and the real nutrients will not taste good either. The same goes for learning about trading.

Demo trading is really just that good for the benefit on trying out to make yourself on having those kind of familiarizations on which we know that this is something that would really be that relevant
if you are really that eager on trying out to learn trading on which we know that it could really be that something that not too easy to handle specially when emotions. Its true that once you do deal up with
with demo then it doesnt really give out any emotions since you arent that risking something on which we know that it would really be not just that the same if we do deal up with trading with live account or real balance. There's so much difference when it comes to this aspect.

Newbies shouldnt really be trying out to rush up on doing trading because if you do put up yourself on too much desperation then you are really that putting up yourself
on such big trouble on which loses would really be keeping on piling up.

But the real lesson is when they start their trading journey where they will find many experiences that will be the source of their knowledge, your advice is indeed good by suggesting that we first try to trade on a demo account where indeed I also previously did it in the experimental stage, but actually a demo account with a real account is different, not about features or how to use some indicators but what distinguishes it is in terms of mental and psychological, which means learning to understand how to trade that you can get by learning on a demo account but there is another thing that is also no less important is learning to control your mental and psychological which you will be able to practice on a real account where some people look very tense when trading on a real account while when on a demo account they are more relaxed because they are trading using fake money.

Tension can greatly affect the outcome of trading because in many cases people make wrong decisions due to anxiety and tension underlying the decision making which means obviously trading requires calmness in terms of making decisions. On the other hand the possibility of loss will of course always lurk anyone especially if they are a beginner who does not have much knowledge about the world of trading which means it is vulnerable to making mistakes that can make them experience losses, but if you have strong intentions and determination when the learning process then over time you will be able to develop into a better trader where there is a high probability that you will succeed in achieving consistent profits.

Beginners who are interested in trading better learn and have more knowledge in trading before starting to trade. If you want to gain trading experience, it would be better to use a demo account first or do it with a real account but use a small nominal amount.

there is indeed a high probability that beginners in trading will receive losses. but the risks can be reduced if beginners prepare themselves well before starting.
the mistake many beginners make is that they think trading is easy.

I think saving is better than losing.

You earn money by business  and deposit 5% or 10% of that money rather than losing it by trading.

Suppose you have $100. I think you will be able to earn $10-20$ using that $ in business. But by trading with $100 you are more likely to lose everywhere than actually happened to you.

 Deposit it without trading  with your remaining $45 and think about business .

It's really like that in trading: big capital, big income, and when you get a meme coin that suddenly becomes successful, it can be small capital but big income. But that's not called luck; it's made you meme coin hunters, and you only know how to hunt potential meme coins.

Now, let's go back to the topic: newbies should not rush to earn a lot, because that is always their problem. It's too much of a rush; here in crypto trading, there is no shortcut to learning to trade because trading is a broad matter, to be honest. That's legit, honestly speaking.

If I had to go back to the beginning again, I would solely focus on candlestick patterns and charting/indicators. From there, remember the patterns, and keep reminding yourself of what those patterns are and what they mean. After you understand the major patterns without needing to look them up, niche down on your indicators. There is nothing worse than seeing a new trader have 80% of their screen as indicators; you'll get conflicts if you do this. For example, I only use Fib-extensions, EMAs, and RSI. Mix that with candlestick patterns and general TA, and I'm good to go. 

Never demo trade; imo you learn more trading with $10-$50 with the purpose of learning, not making mass gains. I personally did this when I started and was making 5–20 cents per trade, but the amount didn't matter at the start; you just wanted to learn without losing a house worth of money. 

Don't get sucked into the psychological aspect of trading; this will be shoved down your throat wherever you decide to learn, but the reality is that the trader mindset comes with experience. You aren't a psychopath, so unfortunately you have emotions (most of us do), but the excitement of the markets and winning trades eventually loses its magic, and it becomes everyday life once you start maintaining a liveable and profitable trading career, and as a result, you have the """no emotion""" mindset. Like anything that is second nature.

Having demo trading cannot guarantee real profits when we are already trading in live trading account. Emotions are not emphasized during demo trading, so we will be working for that while we trade using our real live account. While emotions can be underrated, but we all know emotions are the best enemy in trading. If you fail to control your emotions, you will never achieve your goal profits in your trades.

This is the main problem, I think.

You are letting your emotions take over control. That ends badly every time. Follow a strategy and do not stray on your path...

It could be that they're hiding the errors so they can call signals to newbies that are looking for signal groups and don't want to start learning how to trade on their own. Newbies have to start learning how to interpret trading charts on their own and not depending on random interpretation from online traders or signal groups. Newbie need to learn how to trade without depending on others because they're not helping you when they're sending you signals or chart interpret. Trading need experience and you can get better experience when you do things by yourself and stop depending on others for them to guide you. Newbies shouldn't start trading from trading futures but they should start from spot trading and build their experience to enter future if they have interest in trading through futures.

Lack with mentality when losing around $45 is not ready yet what faced by OP, I don't know how possibility with his mentality condition in the future when trading huge amount and loss more than $100 until $1000.
Before make trading as passive or side income better defend with your mentality in trading, not promising profit every time trade and we know risk when trading in bitcoin or altcoin but how to make its keep not annoying for our self.

Controlling money management and always use free money for trading, I think if get risk later with coin price drop drastically is not matter how much losses because have ready with mentality when position in trading got losses.

Overall everyone expects profits in the world of trading and indeed that is the purpose of our involvement in this field, but what we must know and understand is that trading is not a quick way to make you rich but rather a profession that can help your financial situation get better slowly and but if you already have enough flying hours in the sense that you are experienced enough then you can get wealth in the world of trading but still you need time which may be long enough to first go through the process.

The problem is that there are some people who are too focused on profit opportunities but they are not willing to go through all the processes that exist in the world of trading which makes them act carelessly and only rely on hope and feelings and I say that if you trade by relying only on feelings then it is tantamount to gambling that refers to luck. As you said above that when someone continues to try with strong intentions and determination in his learning period, it is not impossible that one day you can become one of the successful traders when you have managed to find a fairly accurate strategy from the results of the learning you have done and the process you have passed, it is true that trading is not easy because the possibility of risk is always there, therefore trading requires qualified knowledge and experience, you will be able to get it when you are able to be patient and have strong determination and sincerity during the learning stage.