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I waste lot of money on trading. Without planning I lost every trade which mostly the problem. By the way it's only trial but I didn't want to stop.

Making plans is needed to have successfull trade. Without plan, you're giving away your holding out of you. The one lesson I learned about trading  is plans is very important. At the same time patience.

Careful planning is certainly very much needed by every trader, be it for novice traders or experienced, the planning that is built is certainly through the analysis and experience they have learned before starting trading in several markets.

Plan your trade and make sure you don't get easily swayed by the market direction. From experience, emotions can affect you and how you execute your trading plan/s.

Dedication, strategy(plan) and patience are keys to success in trading. if you are a newbie, do not put too much money into it because you are not in the position of getting something but learning. Do not overcomplicate your trade because it will confuse you making a decision, try it with a small number of money to familiarize yourself with the market. after you get the feeling, try to increase your stake to test your ability.

Like you I wasted money on trading, back in the days when I was just a beginner. Almost every week I spend money on trading as I assume that when you buy a cheap coin you have the advantage of making a big profit by assuming the price goes up. But not really because not all coins can be trusted to give me a profit and that's what I learned. So it is not just the plan and patience we need, we also need the knowledge that will give us to find the legit coin.

You are right. You need to have a good trading plan in having some research. But I salute you in doing trading to be trial and to be familiarized about every transaction because I believe that having actual trading activity to learn is better rather than reading trading articles that we don't really if teach right way to trade. Doing it in your own with real trader's guide is better to learn fast.

I will post update base on my experience, let's see how far of knowledge I can go

I feel you, since i'm always experiencing that kind of incident while doing trading, I think my lapses was i'm easily overcome by my emotion! my mind tell me to sell when the coin that i was traded started to dip its price, i sell instantly without considering that the price may surge in the following hours.

Your plan is good at every time there are mistakes and you can't give up, even ready to deal with it, especially our mental, novice traders will suffer only a few losses, but in that loss you can understand you better for trading and also analytical skills must prepared.

Also dont forget to cutloss if you think the price will go deeper so will not be lost that much. There is nothing wrong with trial, but dont forget that dont use all your money just for trial so incase you learn you still have balance to start to recover your lost from trading.

actually when you are already buying without planning or rushing in buying, I think it's natural for a newbie. I also, sometimes too rushed to buy. you need to understand is, your patience in waiting for price increases. indeed we need analysis when we want to buy, because there is a prediction whether the coin will go up or down. but it can miss, and get out of the prediction before.

that is, be patient when it will sell, wait for prices to rise. but when already bought, do not regret. because in my opinion buying it anytime is the right time when we have capital.

You have to be very careful to trade in the crypto market. It is necessary to good follow a market that changes quite suddenly. And you also need to be informed about selected coins for trade. Trade can be very profitable but also it is risky. I tried to trade daily for a while. But I finally quit because i lost money. So my advice to the newbies, you should to do research and learn the market before trading.

without a plan anything can be detrimental , trader needs a lot of lessons including planning and patience not only that mate a trader must also have a deep understanding of the situation or conditions that are in the price pattern ,experience is more important than so you will not fall as you have occur

Patience is the key. But more patience may create a stupidty.
For example. I am holding NPXS for a while. I bought my first NPXS when it decrease 40 satoshi. Then I wait... wait wait... It fall to 10 satoshi.
I had to make a choice. Wait for pump or sell and run! I sicked of waiting NPXS anymore and I sold it even if I was in loss. And I am happy now.

So patience is the key but you have to learn when you be patience or not.

Plan should be done before moving, without a plan you'll get lost and may not made a right decision. While it is normal for newbies but it can lessen the lost if the plan is made before trading. When I join crypto all my plan is for btc eth only since it's only what I understand. Then slowly studied the others.

Losses is somehow fated on traders and sadly we could just learn along with waste of money and the least we could afford is the experience and knowledge that we can get through it.

Making plan is great but that doesn't guarantee a 100% success and so trial and error. While reading and researching a lot could help but nothing beat on first hand experience, that would be the best mentor ever.

The first trade I did was tragic. I had lost almost around $400 dollars investing out of FOMO since most of my friends had doubled their money in a certain coin a few years ago. To make it worse, when I created a wallet for that coin, I wasn't able to save the file for the wallet and completely had lost access to it. That is why making sure to know what you are getting involved before investing is a must. A lot of newbies commit mistakes during their trades because of misconception in tradting that it is an easy way to earn money.

Start trying without any knowledge is really bad mistake,you are going to spend real money for the lessons,which can be lessen if you did this before begin the trading career even the you can get trial on lot of free trading simulators which works same as the real trading but with free money.

I'm studying scalping, I prefer to it most because every wave, fluctuations are opportunity whether it's big pump o small. And also I learned that both ups and down is good. We also need dumps for us to buy again at the low price. Maybe try to do scalping too, for you to learn and also to earn.

I hear you, i remember my first crypto trade, it was classic buying the top. I had to take several steps back and make few other rookie mistakes, but building that plan needs a base to build it on, you can either use just TA or TA with fundamentals, but with fundamentals you need experience to weed out the irrelevant projects faster.
Only problem is that and experience comes trough mistakes so that will cost a lot.
I still make mistakes, but these days i see them as in expensive lessons.

Agreed, having losses are only natural on the first try, but I don't see a reason why OP started trading without planning after his trade. But it is fine, actually, the experience is the key to realize the mistakes that have been made in the past.
There is no expert trader that never made a mistake on his first trade, every failure should be the reason for every trader to grow as a better trader in the future.

If you think you can learn trading without losing you are fooling yourself, i don't bother to learn further because i just don't get how to trade, the surest way to earn while trading is when bullrun just starts

At least you become more mature in trading. It doesn't matter if your money is wasted if you get the lesson. A pro also must have a loss sometimes but he must set how much loss he should get. Do not let the assets eroded away because it does not set cutloss.
I still vividly remember the first trading in crypto, I only relied on feeling, reading a little. Although there is no loss, there is always anxiety. Gradually I began to understand how to trade well. Hopefully, you also find your own way of trading.

Glad you are aware of such thing. Now you that you know what to do, stick with it, do what is on the plan and avoid trying on other stuff you are not even familiar of. And as well add this, always remember to set a certain quota of profit or if you don't mind leave it, but do not take this off set a quota of loss to just avoid severe losing. As well it is okay that other got one more step of ahead you, because you can attain what others did. Lastly invest a thing you can afford to lose.

Most novice traders experience the same thing as you, including me too. until now I am still learning, and I consider trading to be my new hobby. so I am challenged to keep learning about the market. I'm sure one day I will understand the market and get a consistent profit

that experience is valuable if you aim to find out more about daily trading. your flight time will be faster if you always bride a mistake before, and do not let the mistakes that occur repeatedly as before

That's a pity but I think that's just normal especially for beginners since they're still learning and gaining knowledge. That's a common problem and issue we experience when starting. Very disappointing but acceptance and learnings based on experience will do.
Trading is not as easy as it is, you need to learn first how it works and how to make it profitable for you. Just like what you've said, planning is always need not only in trading but  almost everything you do as well.

Newbie traders usually lose more funds initially when they do not understand the basics of trading. Even if you are not so good with Technical analysis, at least trade with some FA and always use stop loss. Some new traders do not bother to do research. Some keep following buy calls from pump channels which most times always have a negative result since even if the coin is pumped for real, dumping fast before those behind the pump is always very difficult. If you don't plan well, or lack proper risk management and strategy, you will always regret trading. For instance, a trader who doesn't use stop loss is taking a very big risk.

Along with the planning, patience and knowledge about market are basic things needed in trading.
Every newbie should know that crypto isn't a get rich scheme, it needs proper knowledge market awareness just like other real life trading.
Develop patience in the beginning isn't that easy but with proper market awareness/knowledge beginners would be able to control their emotions.

I think you need to make a correction first before resuming doing daily trading. because if you make mistakes repeatedly you have to investigate those mistakes, don't just have courage. it would be better if you have the appropriate knowledge and courage

If you are beginner with trading in bitcoin and altcoin better to buy with altcoin have top ten position on exchange market like ethereum and litecoin, never buy with shit coin because you can lost moment when you not active for checking your assets coin, shit coin can be dump with very lower price and you have waiting long get back.

Remember this, enrty and exit point, stop loss, and target profit.
You'll need to learn how to make a decision, whether to buy or sell, hold or cut loss. Everything matters when it comes to trading. I was once like you too, just a newbie. Not that I'm an expert now, at least I know what to do and to avoid so I won't make the same mistake again. Don't be afraid with your own mistake, learn from it. With all those and your research you'll be good.

it must indeed be determined before starting investment or conducting daily trading. because you have to be able to prepare a target to sell and stop loss because both are needed to know the profit and loss limit

It is common that in trading activities at the beginning we get carried away by emotions and thus bad decisions are made, it is said that the experience is not bought, it is necessary to acquire it and sometimes you have to lose money to learn.

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This is a mistake that we must correct because we will not become successful traders if we keep our minds closed about the mistakes we make. And you're right that planning a course of action can really help us especially when we're in an unpredictable market situation. I am sure you can apply all your experiences and of course you plan in this situation. And because of this we will succeed in overcoming trading trials.

Rightly said, you need a lot of planning and also a lot of patience when it comes to day trading. Just stick to your signals like MACD and observe trading volume as well as 24H highs and lows. You should be fine swing trading easily for few % profits each day

First try to understand why you lost? Find out your fault. You only mention that need proper plan. Yes in trading need plan but you should find out the reason behind the loss.if you make a plan I will sell btc after 30 days.doesn’t matter what price. Find out our fault. Control your emotion.Research more and more.it will be helpful for you in future.             

The main key in trading is to get rid of greed or laziness. patience is also most important in trading for beginners, the point is emotional or our psychologist must be really normal. after that the analysis is precise, accurate, and real. multiply friends so you can discuss every day what coins you trade. so far, that's what i did.

Don't be impatient when trading. I have had sessions where a coin I am trading starts going in the wrong direction and I had to panic sell only for the coin to do x4 later on in less than 6 days.

i'm not a good trader myself but i made some profit by just buying and selling and all you need is a chart and the knowledge that when prices goes up, it always comes down. when the price depreciate, that's when your plan should be executed. when you see you profit by $20+, you sell. it doesn't matter if it shoots up more than you expect since you can always by again when the price dips again. you can do it over and over but next time you learn to see when the price will down or up. learn the indicators.  

Trading can be very dangerous if you don't have good trading strategies, i lost half of my money by trying to figure out how to trade and i stopped to cut short my loss, i think trading is not for someone like me

knowledge is the most important for newbies in my opinion,, because you cannot make a plan or strategy if you don't have such thing.  Actually yes  there's a basic rules when it comes trading and etc which is " buy low and sell high "  but it doesn't mean thats how it realy work mate ,because indeed that's not enough and you need to educate yourself more ,which something  but related into it , because you know being lacks is the common reason why newbies end up to regrets always , So be practical and always make sure that you are knowledgeable before puting money on the line and in order to prevent losses and etc in the future.

I agree with your words, that do not be disappointed when the price goes up more than you think, because the price may go back down again and take advantage of it. I personally still need a lot of knowledge for daily trading and studying the movement of charts on coins. need enough time to learn it

Personally, I think that a trader needs to have extensive experience trading on the exchange. Since I know that all beginners who want to become traders are defeated on the exchange. So to get high income you need to have a lot of experience as a trader. It is also very important to correctly analyze the market as it is very important for trading on the market.

Agreed. People see trading as something what can be done by everyone. What is difficult on trading right? And after that you see statistic that around 90% of traders are in a loss, while only 10% of them are in a profit. It it because these 10% people are educated? Of course!

I think that the most important thing for a trader is the skill of trading, not the plan. However, the plan is also very important. When I was in trade, I lost a lot when I did not have a plan.

Making plan is good in crypto trading but that doesn't make a trader successful in trade because what's needed the most is having the right knowledge to flourish when you trade and example is this current market which the market momentum yet to choose side and long form of trading are the best trading strategy for traders which can't control their patience.

Sure, I traded as well, but discovered that this work is too stressful and takes too much time. You always need to be up to date and follow all the trends to make money and the possibility of success is very low, there is always a better trader out there.

I hope you have learnt how to do the planning. The first you should do is to ensure you do your research, because it is paramount and a prerequisite to your planning. Also, as a newbie, start with very little amount of fund, so that when you lose that little, you will have another to fall on. For at this stage you are still learning and it is a gradual process.

Start trading just because someone told you that it is profitable without researching or planning is very unwise. You're basically giving free money away. Good thing that you learned the lesson, even though in the hard way. Trading has odds and risks that you need to defeat by studying the market and it should not be done just one overnight. Observations is the key before you start to test the waters. Do not attempt to jump without knowing how deep or else you will plummet to failure and loss.

You should make up a plan before trading, how much you are putting at stake and it should be an amount that should be okay for you. Don't just go all in and trade without any plans of when to stop, quit or pursue. Although it's going to be an expensive lesson if your capital to stake is quite high but it's all worth it with the experience that you'll have on it. As for the newbie traders, they're all for the risk and they can take it high or low as it doesn't matter for them.

Planning is a essential part of not just trading process but also in other forms of investment. Without extensive planning, it will be difficult for you to manage and will most likely to end up losing more than you anticipated. Studying the trends and the market predictions can help you decide when it's good to buy and sell or simply trade to earn profits. It's a delicate job and has no guarantees but it can be addicting. So, be careful and don't let your emotions lead you.

I agree with you. As long as you are new to trading then you should follow your plan. Reading a lot of literature and choosing a plan for trading is the most important thing to do. And if you have painted every step, then you can't retreat from the plan.

Newbie trader has to avoid greediness as it will certainly lead to mind crash, a newbie trader should always zero mind as it will either be profit of loss but most do give up once they do miss out little bit. I have known many that tried and gave up but persistency matters alot in crypto though you have to be extremely careful

That's epic, when it comes to securing wallets I wasn't taking it so easy. I prefer paper wallet storing that kind of amount. Make 2 or more copies for us to not lost it.

a goal wihout a wish is just a dream.  It's good if you realize your mistakes beforehand and want to study harder so that you don't get lost again.  At least from that mistake you realize that trading is not a simple thing, it requires the right calculation and strategy to get profit, not just rely on luck.  Hopefully after this you get the best results.

I made those mistakes, too. It seemed to me that I could trade successfully even without a plan and strategy.  But that was certainly my biggest mistake. It is good that you were able to understand this and will not make such mistakes in the future.

Planned action requires thinking ahead of time. But, trade is such that anything can happen at any moment, and in this case, if you try to act in a planned manner, you will delay. The plan is necessary, but there is not always enough time to implement this plan. After having enough knowledge and experience to trade, all that is needed is to be able to act correctly at the right time.

Planning is a must, it should be a stupid idea to trade without planning. Actually, it is not only about making a plan, but we must also learn everything related to trading firstly. I cannot imagine that someone tries to trade without having the proper knowledge. Trading without a plan & proper knowledge seems like fishing without a hook.  ;D

It is a bad idea not to have a plan in trading. Having a plan is the same important as a patient because with making plans, we can work as schedule, and if something were run out from the schedule, we would have another plan, so that will not disturb what we do. Trading will be good if you have a plan so you can know the target you want to choose, and you can wait for a while to see your plan work or not. Plan and patience will give you a chance to analyze the market so you will have the opportunity to make a profit.

Trade planning is indeed very important in trading. Don't trade without planning. Planning includes managing capital and what coins you want to trade. Do not trade without a clear direction, and also the most important thing is to be patient to train mentally in trading. Mentally strong and must be wise in determining every decision you will make.

of course we must always have a plan and strategy in doing anything so that we get the maximum results. and when trading crypto, of course you have to have a good plan and strategy. without a plan and strategy we will lose a lot. and I also always do research before making plans. so things always have to be done before investing or trading. do research and analyze market conditions, choose potential coins then make strategies and plans.

trading should be able to make a lot of money and not spend money if you always spend money when trading and can't get profit then there is something wrong with the way you are trading, maybe you are still easily affected by bad news or affected by market conditions so you panic and will only make yourself lose.

"Invest what you can afford to lose"
I invested what I actually I didn't regret, it is the way how you want to learn about mistake to us to become more careful the next time you it next time.

If you see already why you lost your trade then you need to adjust to it as trading is like trial and error especially if you are still a newbie. Learn to be resourceful and don't be dependent to few information's that you get instead use all the resources that will help you to become a successful trader.

You need to be clever in trading as greed will eat you in the end especially if you are earning to it already. That is the common mistake of few traders who are good enough to make their decisions already in every trade that they make, so it's better if you know how to control yourself and don't make a trade that has a high risk.

Knowledge, strategy and plan are important when it comes to trading. Its fine to commit mistakes since you're a beginner and you learned something from that experience. Now you know its not easy as it seems and you need a plan to follow to avoid the usual mistakes of a trader.

Yes planning is very important in trading, you need to plan very well before you throw your funds into it. You must plan on when to enter the market and also your exist plan. You need to also be patient so that you dont always jump into panic selling

If we're still a newbie we don't recommend to take our self determined to take which coin that we will buy and when we have to buy it. We better learn first from the professional traders and there are many pro traders analysis on the internet that you can find. Most of them are on twitters if you're following crypto traders twitter account but if you want to learn more specificilla in technique you can learn it from tradingview. Before we have learned many people analysis and how they predict the price.

yeah i agree with your point. Because if we want to trade successfully, we have to plan and understand the meaning of that transaction. Otherwise we will lose a lot. Many people always complain why the market doesn't go up as they want, but actually the market goes up and they don't invest in the right place. So people like that are often hard to profit

Yes, a trader must be well trained and he must know how to gain money. Trading skills is not that easy or that difficult so before starting a trader must know the rules. It’s much better to know the market condition and they should buy at a low price than trade for the long term and keep holding as much as possible.

thats right . never stop easily because what you have experience might only be a trial  . a trial to train you to be a better trader  but you said you already waste alot of money  ?  that simply means that you are betting too much   . so my only suggestion is that dont bet too much but bet only small because you might be a newbie on this trading business .  plans , patience are nothing if you will not follow them  .  this is why you also need a strong self control to   not get distracted so easily

Patience is the main virtue a new trader lacks. They seem to make many quick trades in and out that just wastes the trading fees without making any profit. Plan your actions and go with the plan. Market trend may change your plan but don't hurry to sell on loss when the market is having a fall.
We've seen a quick rise after each fall and it's a good idea to buy after 24 hours of a decreasing market.

It is necessary to first understand how to trade in cryptocurrency before deciding to trade. And for beginners, I would suggest starting with a small amount of money and don't forget to observe the movement of the market charts to determine when it is appropriate to start and determine the decisions that will take later and it is better to ask for advice to some of the people closest to you before starting to trade.

It is not only about the education and the management, the trading skills are not given to every trader as a gift. Some people's capacity is higher than average due to the education background and the risk estimations. 90% of crypto traders have no emotional control and their profit curve tends to go down in bad market conditions. The loonger mastering crypto markets takes, the higher chances occur to lose in the game of whales.

Most of the time, newbies are always making a mistake because of being indecisive or making quick decisions. It is true that patience is one of the key to have a successful trade. Having an action plan will also help to avoid unnecessary selling of trades and will help a trader to make an advance plan .

Yes, because without proper knowledge, your investment will be put to waste. Gain experience and knowledge before spending a lot of capital to avoid unnecessary losses.
Asking someones advice is also fine, it helps a newbie to make his own decision when he starts to trade on his own.

not just plans, but also information. you might be able to easily devise a plan like "buy when you go down and sell it when you go up", it's a very general plan, or buy when the price goes down a few percents without and wait for it to go up without any information. prioritizing information is far more important to support the success of a plan.

To start trading by yourself without experience and without any knowledge is too big a risk and most likely you will lose all your money and therefore I always advise you to start trading with experienced traders in order to gain experience and then start trading by yourself without any help.

It seems like you have already realize your mistake, I'm sure you will improve and I know you have a chance because you don't easily give up.
Just take it easy, it's normal that newbie will tend to make more mistakes but what's necessary is you improve along the way.

Investing or trading here is not a race, what's necessary is you end up profitable whether you end in short or long term journey.

Yes, It is like getting into a war without firearms and experience on how to fight. It is risky in a way of not knowing the next possible action to take.

Start trading with others? you mean he should get along with the tricks of other traders? It is not a good way to start trading, it is like getting yourself stuck in the back of someone for some time. It is better to learn and do research, getting enough knowledge is much better to avoid having a loss.

such failures will indeed improve the quality of someone in business or trading. the example he feels that trading requires a plan. it proves that its ability is upgraded.

Because of that, try to focus more on doing it. Such failure can occur because you feel it is a trial. Trading with a very focused and attentive to charts that occur from time to time may make you aware of signals that have not even been found by others. keep learning and not giving up easily is what is needed in this business.

trading must have planning every time we will do it. It must be clear how much profit you will get and how much is your stop loss. It's the same with crypto if we want to trade, we must have profit and minus. This is if we really want to become a reliable player. If you only rely on luck alone in trading, then it's better you just don't need to do trading.

It is very unfortunate to spend money on trading which without planning and targets. Maybe this does not apply to people who do have a myriad of money hehehe. But based on your story, it is true that without plans everything can be chaotic, especially when we are trading, or may be called Blind Trading, do not know the potential and when to buy, when to sell, just stop buying coins. but from there we can get valuable experience. I salute you.

Not only plan and patience, but knowledge is also important to read where the direction will run. If we only trade with instinct and patience just like gambling.
So the science of trading is important accompanied by plans and patience in order not to waste our funds too much when experiencing losses.

That's the good part, you've learned something. Simply, that's the process of becoming better from something you are doing. Trading is just that complex that even the old ones in this activity are making mistakes. The best part in trading is consistency on earning profit unlike on investment wherein when the market goes down, profit is hard to earn, while in trading, you only need to make good choices. Just be patient and not to be frustrated of the market situation and you would be successful in trading.

that's the process to become a professional trader. keep looking for experience and learn something new and a mindset that is scheduled so that when trading can minimize losses.

You cant be more right. Successful traders are studious individual with great amount of patience and strategy. You have to know what works best for you and develop yours. If possible, you can mirror the paths of good traders with proven track record too to minimise risks if you are still a newbie and loosing too much money

I always bear losses whenever I went for short term trading. You can have luck once or twice but not all the time.
Go for long term investment, if you really want to get huge profits.