What should newbies do in trading? - page 5.

Taskford

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Quote from: gabbie2010 on March 13, 2024, 06:42:27 PM

Quote from: adpinbr on March 08, 2024, 02:59:07 PM

I don’t just really know much to see about this to you, but my advice is continue whatever you’re doing ask questions, read, book, analyze use some pastry to judge your present and don’t be scared to take the risk continue what you are doing. I believe you should know the right thing to do after reading the books and following the Trading trends and also remember to go into CoinMarketCap and see how everything is going down and try to come into the forum anytime you have challenge and don’t be scared to take ricks. Secondly, be Patient on what you are doing concerning Trading don’t ever be greedy. Focus read continue don’t stop whatever you’re doing ask questions you before concluding.

Honestly it takes a lot of effort and determination for a newbie trader to scale through in trading, even after reading books, following the market etc yet a lot of them still lose or get liquidated because live trading experience is a different ball game because they have to deal with psychology and emotions in trading this is based from my own personal experience at this point many quit trading after streak of losses, however all those challenges are surmountable if such a trader remain steadfast and persevere definitely they can later become profitable after gaining some vital experience though absolutely it's not easy to get to that level as a newbie but they just have to believe in themselves.

If they don't trade then how they can gather experience? So its really need a lot of determination and effort so that they can see the best result on their trading career.

There's a lot source of information they can grab online that can help them and they just need to be consistent on their information seeking plus trying to earn some good experience on the market before they can see the best result of a lot of efforts they have done.

Path thru learning and becoming a expert on this field is really though it need a lot of patience and determination before they can earn a lot of success on their future trades they made.

Uruhara

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Quote from: shisotsu on December 09, 2023, 06:21:31 AM

I'm also beginner in trading. I trade since this summer and I lost about $90 on $120 account. Recently I make $20 on last $34.
Throughout my journey in trading, I read Jack Schwager's book, watched many educational videos on YouTube, read many articles on the educational sections of CEX exchanges, and also talked with many traders. It seems to me that I understand enough about technical analysis, trading systems and trader psychology. But I'm at a dead end and don't know what to do next. Other traders advised me to just trade, but I think that over time I will lose my remaining $45, and demo trading does not bring such emotions and I don’t want to try hard when trading it

Maybe you already understand the various insights needed in trading theoretically at that time. But you forget that the real insight will come from your own experience in the market. For example, controlling emotions in trading cannot be done just by understanding the theory in books about this matter. But understanding emotional control in trading can only be done after we experience it directly in the trading itself on the market. You only need to make observations and evaluations for each of your activities in the market. With this you will find out where your mistake lies.

Tigerheart3026

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you lost money already in several times i will advise to you don't trade with big amount which will not be affordable to you, secondly still you are a newbie in trading so you should not take big risk, if you bought a coin then see your balance is going negative when you try to wait for recovery don't sell your coins in low price.

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Quote from: adpinbr on March 08, 2024, 02:59:07 PM

I don’t just really know much to see about this to you, but my advice is continue whatever you’re doing ask questions, read, book, analyze use some pastry to judge your present and don’t be scared to take the risk continue what you are doing. I believe you should know the right thing to do after reading the books and following the Trading trends and also remember to go into CoinMarketCap and see how everything is going down and try to come into the forum anytime you have challenge and don’t be scared to take ricks. Secondly, be Patient on what you are doing concerning Trading don’t ever be greedy. Focus read continue don’t stop whatever you’re doing ask questions you before concluding.

Honestly it takes a lot of effort and determination for a newbie trader to scale through in trading, even after reading books, following the market etc yet a lot of them still lose or get liquidated because live trading experience is a different ball game because they have to deal with psychology and emotions in trading this is based from my own personal experience at this point many quit trading after streak of losses, however all those challenges are surmountable if such a trader remain steadfast and persevere definitely they can later become profitable after gaining some vital experience though absolutely it's not easy to get to that level as a newbie but they just have to believe in themselves.

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Quote from: batang_bitcoin on March 13, 2024, 06:41:28 AM

Quote from: ScamViruS on March 09, 2024, 04:50:19 PM

And this is why you are advised to do demo trading before starting trading. Greed and emotions are very important in trading, those who can gain experience in controlling these things can do well in trading, and for that demo trading is very important to understand the market.

While there really is no emotion using demo trading, it's advisable for those that are trying to test some strategies. When you're not yet sure if your trading skills are going to be worth it, it's best to try and get into demo trading first doing some back test before you wholly commit with your actual plan and money that's ready to get into it. But if you're brave enough ready to lose with your potential capital, you can skip that part as long as you are trading with an amount that you afford to lose.

Demo trading gives an idea of the market to the trader to know how the market works, because new traders have no idea about the market how the market works and how to manage everything. Any trader starts their trading life with losses, because they are not ready to gain enough knowledge and are not much interested in demo trading, which makes them see losses after starting trading.

Demo trading can give a trader complete knowledge of the live market but cannot give the same emotions as a real account, because there is no real money in a demo account and there is much less emotion than a real account. And controlling emotions is the most important thing in trading. So demo trading is important to get a better understanding of many trading methods.

batang_bitcoin

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Quote from: ScamViruS on March 09, 2024, 04:50:19 PM

And this is why you are advised to do demo trading before starting trading. Greed and emotions are very important in trading, those who can gain experience in controlling these things can do well in trading, and for that demo trading is very important to understand the market.

While there really is no emotion using demo trading, it's advisable for those that are trying to test some strategies. When you're not yet sure if your trading skills are going to be worth it, it's best to try and get into demo trading first doing some back test before you wholly commit with your actual plan and money that's ready to get into it. But if you're brave enough ready to lose with your potential capital, you can skip that part as long as you are trading with an amount that you afford to lose.

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Quote from: adpinbr on March 08, 2024, 02:59:07 PM

I don’t just really know much to see about this to you, but my advice is continue whatever you’re doing ask questions, read, book, analyze use some pastry to judge your present and don’t be scared to take the risk continue what you are doing. I believe you should know the right thing to do after reading the books and following the Trading trends and also remember to go into CoinMarketCap and see how everything is going down and try to come into the forum anytime you have challenge and don’t be scared to take ricks. Secondly, be Patient on what you are doing concerning Trading don’t ever be greedy. Focus read continue don’t stop whatever you’re doing ask questions you before concluding.

These are the basics that a trader should learn prior to trading. Don’t force yourself trying to pursue trading when you know your knowledge and skills aren’t good enough. You know, it takes time to learn and gain, so just enjoy every step you do and never get pressured just because others are profiting while you are still losing and still in the learning process.

Trade when you think you’re capable to trade, and trade not mainly to win and make profits but trade to gain more experience in trading. I believe in time you will come to master your trading strategy, it just takes more patience and consistency with what you are passionately doing.

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Quote from: Oshosondy on December 09, 2023, 06:40:51 AM

Try not to lose but continue to accumulate. I mean no to much risk trading. But if you lose more, stop trading after many months of losing. If you gain, continue to gain and accumulate.

Trading is hard and not a get rich quick scheme, a trader needs to have a source of income to fund the trading, and as advised to trade with amount that they can afford to loose, to minimize loses, and if they continue to experience loses over a period of time, it'll be best to take a break from trading. A newbie that's continuously losing should stop trading, take a long break as you said and restrategize, then come back, if it continues then perhaps trading is not for him, he can convert to become an investor, and hodle reputable coins/tokens.

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Quote from: shawonngp on March 09, 2024, 09:16:15 AM

Before start my trading in real account, everyone suggested to me must should be practice in demo account then i have to learn trading following demo account but i was started in real account in small capital, but i can't deny demo account is very helpful to feel in real trading and it's helps how to control emotion and greed.

If you practice trading in demo account you will get an idea how the market works, yes it's true if a trader trades in demo account then emotions don't work like in real account because real money is not involved. But if a trader trades seriously in a demo account, then his trading skills must increase and if he can implement it properly in a real account, he can get good results.

And this is why you are advised to do demo trading before starting trading. Greed and emotions are very important in trading, those who can gain experience in controlling these things can do well in trading, and for that demo trading is very important to understand the market.

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Quote from: adpinbr on March 08, 2024, 02:59:07 PM

I don’t just really know much to see about this to you, but my advice is continue whatever you’re doing ask questions, read, book, analyze use some pastry to judge your present and don’t be scared to take the risk continue what you are doing. I believe you should know the right thing to do after reading the books and following the Trading trends and also remember to go into CoinMarketCap and see how everything is going down and try to come into the forum anytime you have challenge and don’t be scared to take ricks. Secondly, be Patient on what you are doing concerning Trading don’t ever be greedy. Focus read continue don’t stop whatever you’re doing ask questions you before concluding.

My advice is, focus first on growing your knowledge in trading. Never trade if you are still not confident with your trading results. Although consistent trading will improve your experience in trading, but if it’s always a consistent loss, then I don’t think it’s helping you anymore. Even if you say you trade on the amount you can afford to lose, but losing a small amount will eventually lead into a huge one once your trading mistakes and losses will not be controlled.

Newbies in the first place are not advisable to trade. Instead, focus on buying and hodling first, and when you’ve gained positive outcome from it, then perhaps you can start taking a bigger risk like trading.

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Quote from: Oshosondy on December 09, 2023, 06:40:51 AM

Trade with the amount of money you are capable of losing. The kind of money that will not give you emotion.

If I earn $250 weekly. I can decide to trade with 5% which I can afford to lose. That means I will accumulate 5% of it weekly and try to make profit.

That is $12.5 weekly.

Try not to lose but continue to accumulate. I mean no to much risk trading. But if you lose more, stop trading after many months of losing. If you gain, continue to gain and accumulate.

Nice! I like what you said, and it looks like you've been doing it so far, right? And honestly speaking, I would like to imitate what you suggested. Because it will be quite helpful for what I see as a gambler as well as for other gamblers in casinos.

With this habit, we will somehow be responsible as gamblers on any casino platform, for sure. Of course, once the limit amount is used up, we have no choice but to stop.
I hope some of the gamblers community here in this section will read this suggestion of yours too like me.

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Quote from: wxa7115 on December 27, 2023, 03:43:04 AM

Quote from: Nrcewker on December 19, 2023, 11:56:44 AM

Exactly Demo account is only for gaining experience. I have seen people advising that do lot of trades with real money and it’s alright if you lose few initial trades. I mean why there is need to gain experience with real money, when you have option for demo account. Many new traders aren’t also aware of this demo trading thing. Another way a newbie can make good profit, if he or she doesn’t greed for more profits. Set smaller targets and once it fulfils, just exit the market.

Some traders feel that demo accounts do not give you the full trading experience and this is why they disregard them, and while they may have a point when it comes to the emotions you may feel when you trade with real money, since there is no way for a demo account to help you to simulate those feelings.

There is no doubt in my mind that demo accounts have their place as they allow you to familiarize yourself with the trading platform you are using, and at the same time you can test your strategy knowing that no matter what happens you will not lose any money while testing it, and this is a huge advantage over regular accounts in which you will need to use your money to find out if your strategy works or not.

Before start my trading in real account, everyone suggested to me must should be practice in demo account then i have to learn trading following demo account but i was started in real account in small capital, but i can't deny demo account is very helpful to feel in real trading and it's helps how to control emotion and greed.

adpinbr

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I don’t just really know much to see about this to you, but my advice is continue whatever you’re doing ask questions, read, book, analyze use some pastry to judge your present and don’t be scared to take the risk continue what you are doing. I believe you should know the right thing to do after reading the books and following the Trading trends and also remember to go into CoinMarketCap and see how everything is going down and try to come into the forum anytime you have challenge and don’t be scared to take ricks. Secondly, be Patient on what you are doing concerning Trading don’t ever be greedy. Focus read continue don’t stop whatever you’re doing ask questions you before concluding.

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Quote from: wxa7115 on December 27, 2023, 03:43:04 AM

Quote from: Nrcewker on December 19, 2023, 11:56:44 AM

Exactly Demo account is only for gaining experience. I have seen people advising that do lot of trades with real money and it’s alright if you lose few initial trades. I mean why there is need to gain experience with real money, when you have option for demo account. Many new traders aren’t also aware of this demo trading thing. Another way a newbie can make good profit, if he or she doesn’t greed for more profits. Set smaller targets and once it fulfils, just exit the market.

Some traders feel that demo accounts do not give you the full trading experience and this is why they disregard them, and while they may have a point when it comes to the emotions you may feel when you trade with real money, since there is no way for a demo account to help you to simulate those feelings.

There is no doubt in my mind that demo accounts have their place as they allow you to familiarize yourself with the trading platform you are using, and at the same time you can test your strategy knowing that no matter what happens you will not lose any money while testing it, and this is a huge advantage over regular accounts in which you will need to use your money to find out if your strategy works or not.

Demo accounts are useful. They lack the emotions and tension of real-money trading. Yet, isn't this absence an opportunity? Traders can focus on strategy without emotional biases. Like a simulation, it lets you experiment, learn, and improve. Moving from demo to actual trading is crucial. Risk is added by this change. Risk adds complexity that a demo account cannot. Tough commercial conditions meet theoretical knowledge in this crucible. Both plaftorms are useful. Demo accounts enable experimentation and learning. The final test for tactics, durability, and flexibility is real trading. Use each for its original purpose and transition deliberately, acknowledging the distinctions and challenges.

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Quote from: Nrcewker on December 19, 2023, 11:56:44 AM

Exactly Demo account is only for gaining experience. I have seen people advising that do lot of trades with real money and it’s alright if you lose few initial trades. I mean why there is need to gain experience with real money, when you have option for demo account. Many new traders aren’t also aware of this demo trading thing. Another way a newbie can make good profit, if he or she doesn’t greed for more profits. Set smaller targets and once it fulfils, just exit the market.

Some traders feel that demo accounts do not give you the full trading experience and this is why they disregard them, and while they may have a point when it comes to the emotions you may feel when you trade with real money, since there is no way for a demo account to help you to simulate those feelings.

There is no doubt in my mind that demo accounts have their place as they allow you to familiarize yourself with the trading platform you are using, and at the same time you can test your strategy knowing that no matter what happens you will not lose any money while testing it, and this is a huge advantage over regular accounts in which you will need to use your money to find out if your strategy works or not.

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Quote from: Distinctin on December 11, 2023, 12:38:45 PM

Quote from: Nrcewker on December 11, 2023, 12:12:10 PM

Newbies should at first observe the market. Don’t rush and deposit huge money in the trading account. Instead go for a demo account and try to trade there. See tutorials and basics of trading from the internet and practice it in the demo account. Once you feel confident and see good results, use those tactics with the real trading account. You will get better in trading as you gain more experience. It’s alright to lose money at the start, it will help you to make strong while trading now.

Using demo account might be a good start for newbies to learn how to trade without the risk of using real money. The intention here is that you will be exposed to the real scenario in trading, and what could be the possible strategies that will work for you so you can manage the risks when you are already trading in live. Although demo trading account may not guarantee your real success in live trading, but it will be a big help as well so you can practice trading without the risk of losing money.

Exactly Demo account is only for gaining experience. I have seen people advising that do lot of trades with real money and it’s alright if you lose few initial trades. I mean why there is need to gain experience with real money, when you have option for demo account. Many new traders aren’t also aware of this demo trading thing. Another way a newbie can make good profit, if he or she doesn’t greed for more profits. Set smaller targets and once it fulfils, just exit the market.

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Quote from: Bushdark on December 15, 2023, 01:51:58 PM

It is very important for us to keep adjusting our trades so we can become experts with time. The great traders that we are seeing mow that had been making consistent profits from the market are those that were able to learn and keep learning when they started trading.

You can't stop learning as a trader, the market is constantly changing therefore you need to keep yourself up to date with the movement of the market. All the traders that refusesd to upgrade their knowledge on trading turn to losers as the market will always make them to lose all their money. You need to update your trading strategy as the ones you're using mightn't be very current when the futures comes. Knowing how to trade is just the start as you also have to learn to trade and make profits.

Newbies need to not be in a rush to learn trading to make money, newbies need to learn gradually all the steps that you have to understand to make profits from trading. Starting from been able to read and understand the charts before you start trading is important and all newbies that want to become professional traders need to know how to do this. Many individuals just want to make profits from the market but don't what to learn how to interpret charts.

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Quote from: shisotsu on December 09, 2023, 06:21:31 AM

I'm also beginner in trading. I trade since this summer and I lost about $90 on $120 account. Recently I make $20 on last $34.

It's clear that you are new to trading and first you lost $90 and made $34 from "$20" which is possible if you had used high leverage on that $20 trade, (do not use high leverage it will eat your bankroll quickly)
and after reading your post you seems to make money easily without taking much efforts and learning the hard way, which is not possible in any field. being successful at anything take years worth of time and efforts.
there is nothing that will earn you money without taking efforts, so quite the idea of earning easy money and work hard on something,
It may be something else or trading, give trading time and start with small amount which you can afford to lose and your emotions will not take control of you by seeing your bankroll going down and up.
do not see live trades, it will cause your to close the trade or open too many trades more frequently, which will make you lose more.

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Quote from: Baki202 on December 17, 2023, 07:23:56 AM

Quote from: |MINER| on December 17, 2023, 01:39:35 AM

Very sad. Why did you invest so much money without knowing well about trading? Learning to trade takes a lot of time. It is not possible to conceptualize it so easily. You need to get more detailed idea about it. And don't be disappointed. You have to trade by understanding the market conditions. Once you understand the ups and downs of the market, you will never face losses again.

You see many people flaunting their wealth while you make a lot of money trading, and at the same time, there's a chance you could lose everything. Depending on how you approach trading, it will either make you happy or unhappy. It's not enough to just hear about trading and jump in without knowing the crucial steps to take; there are some steps that, if you follow, will be very helpful if you're just starting. Research is also always a good idea to do before starting something, and this is important. It will be quite simple to adapt to the market conditions once one has a thorough comprehension of them.

And the time needed to gain that comprehension is not short, new traders seem to think they can learn everything they need to know in a single day and this is not possible, trading like anything that is worth something in this life, requires that you make the commitment to learn it to heart.

And anyone that only has a superficial knowledge about trading will suffer because of it, and then they will wonder why they did not took the time to actually learn how to trade, but at that time there will be nothing they will be able to do to recover the money they have lost already.

Fuso.hp

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You started trading with $120, from here you lost $90, the remaining balance in your account is now $30. After reading this much I want to know, did you sell your coins at such a huge loss or do you still keep your coins in your wallet? If you have sold your coins then you must re-plan your trading but if you have not sold your coins then I think you should wait for some time because since you have lost a lot the market will recover a bit. I think unless you are doing futures trading, your coin should have halved in value to lose that much money. If you are doing future trading in the beginning then I would say it was a wrong decision for you because at first future trading is very risky for a trader and it is better not to engage in this future trading in the beginning. If you want to start trading anew, try to learn about trading again and get enough ideas.
After gaining enough knowledge you can start your trading journey again with spot trading.

Topic: What should newbies do in trading? - page 5. (Read 1561 times)