What you need to know about trading - page 6.

fuguebtc

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Quote from: Sim_card on November 23, 2023, 07:25:29 AM

OP, this topic fits in the trading board and it will be good if you move it there.
One thing that I notice is that people think that trading is easy and they jump into trading because the need quick profit with little or no knowledge on trading. They get disappointed because they were in the market to gamble. I see someone that does not understand trading and goes into trading as a gambler, and this will make him run at loss because gambling depends on luck. Trading is very complex and needs enough time to understand the strategy that you can use to make profit from the market. To stay healthy, only trade with the amount of money that you can afford to lose, and don't trade when you cannot control your emotion.

You are right, trading without knowledge is like gambling and people with the mindset of making easy money from trading are mostly newbies , they have never known anything about what trading is, even trading stock or foreign exchange. But many people advise newbies to stay away from trading, is that correct? In my opinion , I will not discourage them from participating in trading but I will advise them to use the minimum amount for experience to get a real feel . Because most newbies will be very stubborn , they will never listen to someone's advice . So let them experience it for themselves, they will know what they need to do in this market .

Aanuoluwatofunmi

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Quote from: sotelorene on November 22, 2023, 04:31:06 PM

Snipped

If you're a newbie in trading, know this facts about it that whenever you're trading, you're taking your chances on risk and trying to make profits as well with your trading investment, so it's either way round that you win or you loose, trading brings in profitable investment from ones bitcoin or crypto portfolio, but it may require a certain level of knowledge and understanding to have a perfect delivery of all trading expectations for the best performance in trading.

atamism

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If you really into trading you should have a lot of patience and understanding. Trading is not for the soft hearted and for the people who panic. Trading is not easy as what you see, you need to study the chart and how the market works. Also, our analytical skills is one of the most needed here. To more analyze the charts so you will not lose. If you feel you are born for trading then go for it. Some people trade then if they failed they switch to gambling. So you really need a lot of patience and be prepared financially and mentally.

Sim_card

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OP, this topic fits in the trading board and it will be good if you move it there.
One thing that I notice is that people think that trading is easy and they jump into trading because the need quick profit with little or no knowledge on trading. They get disappointed because they were in the market to gamble. I see someone that does not understand trading and goes into trading as a gambler, and this will make him run at loss because gambling depends on luck. Trading is very complex and needs enough time to understand the strategy that you can use to make profit from the market. To stay healthy, only trade with the amount of money that you can afford to lose, and don't trade when you cannot control your emotion.

KiaKia

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Trading is for the patience only, because..

1. You need to study price patterns and trends, aka Technical analysis.

2. Understand yourself and choose what type of trader you want to become, some prefer the long term trading, while most want the short term.

3. Practice and practice over again, never get tired of practicing, because this is what will make you a better trader.

4. Find good trading course to join, they can provide you better knowledge about trading.

Also do not forget to risk only what you can afford to lose, trading is one of the most risky play in crypto and stock investment, not recommendable if you aren't ready to learn over and over again or you win keep losing your trades.

southerngentuk

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People get into trading because they want to make money. That's a reasonable and understandable goal. Who doesn't want more money in their pocket? However, trading is not an easy game. The financial market is a complex and volatile place, and there are many factors that can influence the price of assets.

Many people get into trading because they have heard about others who have been successful. They see these people making a lot of money and they think they can do the same thing. However, they do not see the hardships these people have gone through. They don't see the times they lost money and the times they struggled to make money.

Blitzboy

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Trading is, in indeed, a tough field with no one-size-fits-all strategy. You're right; its not just sunshine and roses. The sea is rough, and each sailor finds their way around it in their own way. Traders often believe they will always be successful and dont think about the fact that they will lose money. They enjoy wins but fall apart when they lose. Why? Its a mental game; resilience is key, yet so hard to achieve. Losses arent punishments from God; they're tests that push us to grow.

Every trader's rule book is unique. Your strategy might be another's downfall. Personal tuning is what its all about, right? The problem here isnt the loss itself, but how people see it. The smart people in these seas dont try to avoid storms; instead, they learn how to sail better through them. When trading, one's own expectations are often their biggest enemy. The key is to find a balance between hope and truth, between ambition and humility.

Zigabel

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Quote from: sotelorene on November 22, 2023, 04:31:06 PM

Most traders and investors are inpatient they only think of the positive side of it ( making profit) not knowing there will always be a loss someday, well most of them know but when they make losses they became frustrated and unstable, some will give up because of that little experience. Sometimes we make losses and we have bad experience like we offend God but no, we are only been tested. Some of the spirit of a trader or invest is "I can make it mindset, resilience...

When it comes to cryptocurrency, with newbies, trading is not a safe space to explore.it will be safer and better if you will be able to just HODL just like an investor would, the longer you stay cryptocurrency the better you will understand it and sooner you will get to understand between trading and HODLING which best fits your preference but then as a newbie Avoid trading.

Essential10

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Those of us who want to earn fast money get inspired by various social media and engage in such trading activities. Success stories come up all the time. We hear stories all the time of people who have succeeded in trading. But we don't hear the stories of those who failed and lost the most. Many people have the misconception that trading is a quick and easy way to make money. The biggest mistake that new traders make. They may have initial success but this often leads to reckless decision making and ultimately losses. Many new traders regret their initial trades and mistakes. What we do should be understood first about the future.

Bitcoin_people

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Quote from: sotelorene on November 22, 2023, 04:31:06 PM

Most people think life is a bed of roses, is all about sunshine, enjoyment etc not knowing that there's always a tough time and the ability of one to overcome this time makes him great. Tough time is the point through which poor and successful people emerges depending on the choices and decision they take.
Most traders and investors are inpatient they only think of the positive side of it ( making profit) not knowing there will always be a loss someday, well most of them know but when they make losses they became frustrated and unstable, some will give up because of that little experience. Sometimes we make losses and we have bad experience like we offend God but no, we are only been tested. Some of the spirit of a trader or invest is "I can make it mindset, resilience...

Every job has tough times that take a long time to overcome and wait for something great to show up at the last minute. However, among the most difficult problems facing people today, the financial problem is the most important and problematic one where they are unable to achieve success due to poverty. In business we need to know all these things that positive thinking is not always possible but negative thinking is also very necessary not always profit sometimes loss is faced. When we invest in crypto market we often face huge losses due to market volatility but if we are not patient then we can never survive in the market. To survive in the market one must be patient and not be volatile when the market is going down. For a businessman to be successful, he must endure various problems with sufficient amount of stress and sometimes he can succeed at the last moment.

bitterguy28

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Quote from: Poker Player on November 22, 2023, 11:03:41 PM

Here is what you need to know about trading:

Don't trade.

This is the most useful tip for 99% of the people. I have explained ad nauseam that the percentage of traders is so low, tending to 0 as it is more frequent (intraday) and you add leverage, that the amount of time and effort you need to make money on top of gambling your capital does not pay off for the common mortal. But people are still determined to waste their time, money and effort, apart from giving advice.

In this that I agree most , most of people think that they can make more money in trading but they did not pay attention to how much money they could lose if not knowing the all sides of trading because this is not that easy as we think .
there are plenty of people I knew from the past that learn this lesson after losing big amount as they ventured in this market with sole purpose, and that is to earn and not to learn.
they only seek for profit but not willing to risk so what comes end? they are all losers and now hates crypto in general .

Quote from: GreatArkansas on November 22, 2023, 10:48:03 PM

Quote from: hd49728 on November 22, 2023, 10:18:14 PM

What a trader does not have for their trading career is they have to think of loss, risk of getting loss before thinking of getting profit.
(....)

This is the most common experience for all the traders especially when they are just starting, like newbies.
They didn't know how stressful trading was and how unpredictable/volatile. That's why when you do trade, you need to continuously learn and have proper risk management.

Learn and Earn , those are partners so if you are willing to earn then you must learn first not only the proper risk management but also the whole market flow and future.

Fuso.hp

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Quote from: jeraldskie11 on November 22, 2023, 06:21:56 PM

In our time today nothing is easy. Trouble began in the time of our first parents. Because we are not perfect, it will not be easy for us to do something. Trading is the same today, the newbies in trading believe that it is easy, but when they get into trading, the funds run out. In trading, you should not be overconfident because it is possible that this will be one of the reasons why you will suffer subsequent losses. No matter how profitable you are, your mind must be in a stable state before you execute a trade. Another reason for running out of funds in trading is that there is no risk management, this is really important because no matter how effective your strategy is, it is still useless without it.

It is good to have confidence in every task but not to be overconfident in any task. Just as confidence helps you do your job right and focus on the task at hand, overconfidence does the opposite. Trading is easy for newbies because newbies consider trading very easy but those who have been involved in trading for a long time know how easy or how difficult trading is. Trading is easy for beginners because they don't have to worry much about the market, they just buy any coin with any amount and hope to make a profit, but the market doesn't change as they expect. A new member regrets his trading when he realizes that his trading was wrong after trading. Trading seems easy to beginners in the beginning but at first they understand how they should trade by losing money.

laurenB7742

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Quote from: GreatArkansas on November 22, 2023, 10:48:03 PM

Quote from: hd49728 on November 22, 2023, 10:18:14 PM

Quote from: sotelorene on November 22, 2023, 04:31:06 PM

Most traders and investors are inpatient they only think of the positive side of it ( making profit) not knowing there will always be a loss someday

What a trader does not have for their trading career is they have to think of loss, risk of getting loss before thinking of getting profit.
(....)

This is the most common experience for all the traders especially when they are just starting, like newbies.
They didn't know how stressful trading was and how unpredictable/volatile. That's why when you do trade, you need to continuously learn and have proper risk management.

Like I told those new to trading, don't rush to expect profits, the first thing they should think about is being mentally prepared to accept losses. No one is talented enough to make a profit when they start trading, the traders who are making profits in the market also need to go through a lot of losses to get where they are today. Therefore, as a newbie, if you cannot accept losses or losses, they should not participate in trading. For me, the first and most important lesson in trading is to accept losses.

Poker Player

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Here is what you need to know about trading:

Don't trade.

This is the most useful tip for 99% of the people. I have explained ad nauseam that the percentage of traders is so low, tending to 0 as it is more frequent (intraday) and you add leverage, that the amount of time and effort you need to make money on top of gambling your capital does not pay off for the common mortal. But people are still determined to waste their time, money and effort, apart from giving advice.

GreatArkansas

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Buy/Sell crypto at BestChange

Quote from: hd49728 on November 22, 2023, 10:18:14 PM

Quote from: sotelorene on November 22, 2023, 04:31:06 PM

Most traders and investors are inpatient they only think of the positive side of it ( making profit) not knowing there will always be a loss someday

What a trader does not have for their trading career is they have to think of loss, risk of getting loss before thinking of getting profit.
(....)

This is the most common experience for all the traders especially when they are just starting, like newbies.
They didn't know how stressful trading was and how unpredictable/volatile. That's why when you do trade, you need to continuously learn and have proper risk management.

hd49728

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Quote from: sotelorene on November 22, 2023, 04:31:06 PM

Most traders and investors are inpatient they only think of the positive side of it ( making profit) not knowing there will always be a loss someday

What a trader does not have for their trading career is they have to think of loss, risk of getting loss before thinking of getting profit.

Protect their capital first before thinking of profit. Without a good risk management to protect their initial capital, they will gain nothing in trading career that is risky enough to destroy their capital.

They have to learn two basic order types that are helpful to protect their capital by reducing loss: stop loss, stop limit orders.
One of best weapons in trading: Stop loss order
Stop limit order

Zlantann

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Quote from: sotelorene on November 22, 2023, 04:31:06 PM

Most people think life is a bed of roses, is all about sunshine, enjoyment etc not knowing that there's always a tough time and the ability of one to overcome this time makes him great. Tough time is the point through which poor and successful people emerges depending on the choices and decision they take.
Most traders and investors are inpatient they only think of the positive side of it ( making profit) not knowing there will always be a loss someday, well most of them know but when they make losses they became frustrated and unstable, some will give up because of that little experience. Sometimes we make losses and we have bad experience like we offend God but no, we are only been tested. Some of the spirit of a trader or invest is "I can make it mindset, resilience...

Patience is a virtue that is important in any business, not just in trading or investing in the Bitcoin ecosystem. Many people lose money because they are not patient enough to learn about the business they want to invest in. Trading is a complex and dynamic sector of the crypto industry, this entails that traders will have to spend time to learn about the rudiments of the sector. Impatient people cannot invest in Bitcoin because sometimes takes more than your predicted time to make a profit. Most people had to sell off their coins even at a loss because of impatience.
Bitcoin investment is not a get-rich-quick scheme and it's not also a Ponzi scheme so there is a need to have a long-term investment mentality. Many people have lost money in the sector due to carelessness, ignorance, or scams but it didn't stop them from investing again. This is why every investor needs to be dogged and persistent. Every successful investor has failed before but they put themselves together and kept trying.

Nwada001

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No one is ever going to lose money and will not feel the pain. Even when the money might look little to you, most times it still hurts to lose that little amount.

And yes, trading is about making profit, and one time we also incur some losses, and I don't see those losses as what you call testing, who is testing, who is allowing them to lose in trade, which in turn is also equal to losing money.

What I see about losing in trade is about the choice we make, and when you make the wrong decision, the result will tell, and when such things happen, the best thing you can do is learn from that mistake and improve next time.

Anyone who wants to go into trading fully will definitely understand that it's not every time that trade will be in their favour; sometimes we experience loss and most times we make some profit. That's how it goes, and it has been like that. No one can predict the market perfectly all the time without making some errors.

oktana

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Quote from: sotelorene on November 22, 2023, 04:31:06 PM

Most people think life is a bed of roses, is all about sunshine, enjoyment etc not knowing that there's always a tough time and the ability of one to overcome this time makes him great. Tough time is the point through which poor and successful people emerges depending on the choices and decision they take.
Most traders and investors are inpatient they only think of the positive side of it ( making profit) not knowing there will always be a loss someday, well most of them know but when they make losses they became frustrated and unstable, some will give up because of that little experience. Sometimes we make losses and we have bad experience like we offend God but no, we are only been tested. Some of the spirit of a trader or invest is "I can make it mindset, resilience...

The most important part when you want to learn something new is knowing that you will seem like a fool. I am not saying that we should intentionally make mistakes but when we do, we should take it easy on ourselves and understand that it is part of the things that forge/mold our experience. As a trader, you will have losses (even professionals have losses, let alone someone at a beginner level), but all of that counts. What matters is how you react to those losses; how do you balance the losses and make enough to cover up for your mistake? Determination is important in trading because it will help you achieve more. If you're someone who runs away the second it doesn't go their way then do not even bother.

jeraldskie11

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In our time today nothing is easy. Trouble began in the time of our first parents. Because we are not perfect, it will not be easy for us to do something. Trading is the same today, the newbies in trading believe that it is easy, but when they get into trading, the funds run out. In trading, you should not be overconfident because it is possible that this will be one of the reasons why you will suffer subsequent losses. No matter how profitable you are, your mind must be in a stable state before you execute a trade. Another reason for running out of funds in trading is that there is no risk management, this is really important because no matter how effective your strategy is, it is still useless without it.

Topic: What you need to know about trading - page 6. (Read 853 times)