Bitcoin Forum

What advice would you give a newbie that started trading? Let's say he has decided to leave his comfort zone and get his hands on the it.
Are there pitfalls to avoid? Where is the best place to get started with? Any materials to help grasp the concept faster? Do you mind giving hints on what helped you scale through in your early beginning.

Firstly I always advise before venturing into anything, make sure to understand that thing so well els you are going to loose money in ways you will not understand. When it comes to trading, priority should be on studies because you cannot trade something you don't understand and get the best from it, no amount of advise will help more than the knowledge you gained studying by yourself and having a first hand experience, every other comes in later and you use them to scale up but for the basis, it has ro be from some personal studies where in you develop the skills and discipline needed for trading, this applies to both the crypto and forex market even with their peculiarities, you need patience, discipline and lastly good risk management to scale through in trading, and always make sure to work with reputable and known platforms to avoid been a victim of circumstances.

Id say as someone just getting started, its better not to mess with leverage trading.  That can make your wins bigger but your losses too.  Its real easy to get over your head.  Just keep it simple early on and dont try predicting every up and down.  

The main thing is learning the fundamentals. There are plenty of resources available online, such as books, courses, and YouTube channels.  What worked for me was following some veteran traders on social media and learn from their insights.

I really appreciate your words about these few things but now if I have few links about learning from social media which can help me because I am also desperate to learn few things about crypto and trading with I love to have any good strategy for having bitcoin accumulation as well.

I am trying, but I am not able to have few things which help me for having good start here on this forum and into my journey into crypto.

Usually, newcomers come for unreasonable reasons, such as seeing their friends making huge profits from trading activities. So, they also want to try their luck in this activity. Beginners usually come with too much haste, and based on my experience when I first started trading, I can only suggest 2 things. First, trade with small money. And second, don't be too hasty, learn a lot about the project first before trading.

I just want to suggest what I have learned so far, I don't have a paid mentor, I just learn on my own without anyone's help.
But I started learning trading knowledge on various sources on the internet, learning the basics of trading and how to do trading as a beginner.

Always try with a little money to see if the knowledge I learn can be applied well according to the initial strategy and form a trading mentality that will be useful for future trades.

Because the mentality or psychology of trading is very important to determine when to enter and exit, and it will determine the final decision of a trade.

There is no instant way to do it, everything needs a process, and of course the process will make trading skills better.

Learn the basics, because it's the core of trading. For example, the trading indicators, you start to learn the basic indicators than jump into some complex indicators that you can see in some social media posts or youtube videos, etc. Don't get lured to it.

Next is using stop loss and don't get too attached to your trade positions, learn to take losses and learn to accept profits (small or huge) - profit is already a profit.

Actual real best advice: don't trade, just hold BTC.

Pitfalls to avoid? Yes, there's one, and that's FUTURES TRADING. Avoid it at all costs because many already lost their money trying it for the first time. Now if you really want to try it then at least try it with a small amount and don't expect that you will make profit off of it because what's important is you're gaining experience from it. Best place to get started with? There are many popular exchanges out there that you can try and go trading, but please, please focus first on spot trading. The profits on spot trading are lower compared to futures trading, but if you're a newbie, that's the safest place to trade.

Materials to help you? There are many videos online, articles that you can read and watch, but when I was starting, I also learned from my past experiences and past losses and that helped me make better decisions along the way. What helped me when I'm starting? My experience, and other people's experience. I learned from my own experience, and at the same time with others who had shared their own experience here as well, and from there, I made some adjustments and currently, I'm making small profits off of trading already thanks to them and my experience as well.

Trading isn't for the weak-hearted, and not for impatient people. Also, trading isn't for people who can't control their emotions as well. :) Be emotionless when you're trading and stick with your strategy and always, have a plan. Good Luck OP. :)

Trading with newbies has many pitfalls, that cause losses and I don't tell newbies to start in Bitcoin market, cryptocurrency market with trading.

If the warning is not enough, and you still want to trade, some to read.
Awesome cryptocurrency trading. (https://github.com/SpiralDevelopment/Awesome-Crypto-Trading)
Learn about cryptocurrency trading. (https://github.com/learn-crypto-trading/learn-crypto-trading.github.io)
Stop loss order: one of best weapons in trading. (https://bitcointalk.org/index.php?topic=5173189.0) A good trader must know risk in this market especially in trading, so must concern on how to defend trading capital. Stop loss order can help but there is another helpful order, stop limit order.
What is a stop limit order? (https://academy.binance.com/lt/articles/what-is-a-stop-limit-order)

Again, I emphasize, don't trade, and if you want profit, buy and hold Bitcoin, Ethereum, Ethereum Classic, and top coins which are Proof of Work. Smart contract coins and tokens are risky to hold and never hold altcoins in bear market.

First you need to understand that crypto trading is hard and it's not a get rich quick scheme, also don't take it as your major source of income because loses are bound to happen. Don't be in a hurry to start trading with your capital, first focus on demo trading while you're learning about fundamentals and technical analysis of trading. If you can find a professional mentor that will guide you, it'll be an advantage to you, also there are materials online as you've been told. When you start actual trading, remember to always use the amount that you can afford to loose so that you wouldn't get too emotional when you lose.

It's best to avoid those trading gurus, that's the first step that you should know. Because with them, you'll only see them share the trades that they win.
But the accuracy part, you'll never know how good they are. And for the trading resources, there are various out there that you can search for free like this one: A Complete Guide to Cryptocurrency Trading for Beginners (https://www.binance.com/en/square/post/42827)

With Bitcoin's price fluctuations, is not the ideal time for anyone who wants to learn trading or wants to do it for the first time, so the best advice is to buy once and sell after making 10% to 20% profit.

When it comes to resources, there’s plenty of free stuff online to get you started. But here’s something you won’t always hear, focus on how you’ll approach your trading journey. Like you will start small, keep a detailed record of your trades, evaluate your performance, and only increase your risk exposure once you see consistent progress. stuff like that....

There’s no need to overcomplicate things. Just stick to your plan and execute it well. And remember, don’t aim for big profits right away as you’ll face failures, (well everyone does) but the key is to learn from them and keep going.

Pitfalls cant be avoided at all. Theres none traders who doesnt see any red along the way. Maybe the best experience is do some chart analysis or TA, do some simulations or practice with small capital. There some stuff cant control during trading like emotions which we cant handle smoothly. Some got scared when they see a downfall thats normal and if you give in youll only incurred loss due to panic sell. One thing to learn to control in this space then other factors will be relevant later.

It's important not to rush and quickly jump to the market to start your trading because you can the market is not what you wouldn't learn study very well before starting your trade. You have to understand the basic concept of trading meaning know more about technical & fundamental analysis, how to enter the market, how to exit the market including how to set your stop loss, Take profit and so the rest because when you know all these it would help you much more.

I suggest you avoid risking real money when you're just starting out. Try paper trading first, it’s a great way to test your skills and see if you can actually be a profitable trader without losing anything.

You can try the following platforms.

https://www.webull.com/
https://www.tradingview.com/

I should have gained ample knowledge before getting started. The market doesn't favor anyone, so you need to understand everything yourself because you can't rely on luck in trading, but knowledge can save you from excessive losses.


I believe people who don't have a general interest in trading and financial markets shouldn't get into trading only for the sake of potential profits they can earn from it. There is indeed a lot of money to be gained from this space, but only if someone can manage it very well. If you can't do it properly, you can also lose significant amounts of money in trading.


Yeah, don't FOMO, never trade against the market, and avoid investing in pump-and-dump coins only for higher profits because the risk is too high for a newbie to handle.


Use multiple sources for any information you get. You can start from anywhere, but make sure you always verify every piece of information from different sources before reaching a conclusion. Don't rush it; take things slowly so that you don't forget things you earned earlier when learning newer things.

I would say never join on Groups with payment as most of them are scam stick to self learning the strategies that u can use on trading
also use TradingView that might help you where u can also put indicators  some of them are very helpful

When a newbie starts trading, he should consider all aspects of trading, gain experience using a demo account before starting trading, and never be greedy, and trade with emotions under control. It is best if you consult a professional, from whom you can learn everything better.

The best trading advice for a beginner should first start with one being made aware of their interest in trading. They may not be not be passionate about it just yet, but with interest comes the need for further information and details and that's the curiosity that would make them follow any advice that is given from the source they choose to listen or pay heed to.

There's the need for the proper basic education into the basics of trading, which will lead to further personal research and this is when a beginner trader can know and understand the kind of trading plan that would be put to the test in the real market.


There would also be the need for using a demo account to start your trading journey as a beginner because I don't think anyone wants to learn from the experience of losing money when it can be avoided with the right knowledge. So use a demo account to build discipline, listen to a mentor and learn the best strategy that suits you and also so that the beginner trader can become familiar with the emotional aspect that comes with real time trading.

if the person who wants to start trading is someone who doesn't understand crypto at all or has never owned crypto, I'm sure there's a lot to learn and prepare for the beginner.
trading is not really for beginners, at least they have knowledge. where can we get knowledge? I think we are living in a world where it's easy to get information. it won't be difficult to find some basic knowledge related to crypto and trading.
for someone who is a complete beginner, it's better to just suggest investing in Bitcoin. after being able to get profit and know many things, they can trade.

Since he is new, the first thing I advise him to do is to get a good idea about the market. Because he will need to understand something about the market in his new state, I will first advise him to understand the market. Later, when he understands the market, he will try to get involved in different types of coins in the market and identify the tokens. What are the tokens, and how are profit and loss made? Later, he will have to learn to analyze them with tokens. He will have to read many articles to get an idea. Once he gets all those ideas, he will learn to understand which pockets are in a good position in the market and which codes are not in a good position. Later, which tokens will increase or decrease in price in the market? I will give him these suggestions because he has to learn before he can go to the next step. The following steps will become very easy for him when he knows these.

Yes, there is a loss, but this loss cannot be faced. If the newcomers face this loss, they will lose their money, which they will never get back. You have to understand the profit and loss of the token. If you don't understand this, you will face a lot of losses because you won't be able to manage it well, so you will lose your money and be damaged.

If you ask what the main thing to start with is, I will say that it cannot be said in that way because when you learn to understand, you can start from anywhere by understanding it yourself. No one can tell you exactly where to start; you have to understand it.

To understand the concepts, you must analyze them. You have to discuss them on the net and read what kind of discussions others have done well. There are many good sites where important things are said. Keep an eye on them, see what kind of predictions they are making, and then analyze them and find out.

Materials to help you understand the concept quickly:

• Read various topics related to trading.
• Thousands of video tutorials related to trading are available on YouTube and other platforms.
• Read various blogs related to trading.
• Discuss with traders on forums.
• You can use various trading software to analyze charts and trade.

But remember: Trading is a risky business. You can lose money at any time. So trade with caution.

Trading is so interesting and we can always be proud being a trader, but this is not possible when we lack all it takes to become a good trader who knows what he is doing, just take not of these simple advise as steps needed or precautions for you to observe when going for trading.

1. Learn to have patience
2. be ready to take risk
3. Don't trade what you cant afford to lose
4. always improve yourself by learning continuously
5. Have a desiring trading strategy and stick to using it
6. learn how to make use of the various trading indicators

Lastly, i will leave you with this simple guide to learn more on what trading is and how one can be successful in doing it.

new to trading?
https://bitcointalk.org/index.php?topic=5446799.msg61999785#msg61999785

trading news and tracking
https://coinmarketcap.com/gainers-losers/
https://www.tradingview.com/crypto-screener/

It seems this topic is ideal to move in the Trading discussion also you can see tons of threads right there that might helps you. You can move the topic to the lower left of the thread.

The idea is to learn what the market is, not all tokens are ideal to trade. First, seek a platform or an exchange you will use that is suitable to your trading habit, I recommend if you are a totally newbie use the trading view because they are supporting the paper trade feature that you can practice. Next is to understand at least the basic concept of trading like the support and resistance and then follow the trading patterns, and trading indicators to know if the pairs are already overbought or oversold many newbie traders think that trading is one of the easiest ways to earn, well could be true but again for well skilled and experienced traders.

Trading is easily addicted and people need to experience trading to understand how stressful and difficult it is, before they can choose an easier way to get profit in the market through investment.

In a same market, there are buyers and sellers who can be either investors or traders. With a very good asset like bitcoin, if you can hold it, you can get rich but be able to hold it for a long time, and skip all short term price movements especially in a bull run, is very difficult. You can take profit early than the peak, ATH, but through investment and take profit, you can get profit by holding bitcoin.

Trading is different, and a trader will fluctuate between profit and loss, and eventually maybe there is not profit but a lot of loss. A newbie can start with investment, by Dollar Cost Averaging strategy, and skip trading. Reduce risk of loss and increase chance of getting profit, it's good approach for newbies in this volatile market.

I tried to get out of my comfort zone several times and start studying trading seriously. However, each time I encountered a misunderstanding of certain points that seemed clear to someone who trades regularly. For myself, I concluded that trading is not for everyone who wants it. If you do not have good analytical skills, if you do not have the patience and persistence to get up every time after another fall or mistake, then you will give up very quickly. I have seen a lot of beginners, and in the end, only a few managed to make a profit from trading.

Use a testnet exchange for trading, do not use real money.

In the first few years you will make mistakes and you will lose money. I do not recommend starting off your trading journey by using real money to learn how to trade and which strategies are most successful.

Furthermore, do not listen to any influencers or people trying to sell courses on trading. They are always scammers.

The first advice to note is that trading has theory and practical because a lot of things that would be seen on the trading charts will be better off to understand the explanation on theory, so after learning the theoretical aspects of it, it becomes a bit easier going to the practical face because all you have learned will then be shown to you on a live chart, so that's another aspect that should be well understood because there is nothing like learning halfway and start trading, you will have to take your time and when you see that you are beginning to understand it then you will start practicing through Demo trading to see how effective is your strategy then from there you would no if you are ready or not, so actually that's the little contribution or advice I can give but I believe there are more other things involves but those who knows better will be in the right position to educate you on that.

You are right. Every person needs to acknowledge and understand this, but unfortunately, only some people do. Leaving what you do to get into trading only because it can generate good profits is a bad idea if you haven't evaluated everything beforehand. By evaluation, I mean understanding whether trading is doable for you or not. Just like you mentioned, some people get out of their comfort zones only to get into this space but later fail and rage exit without any gains. That's not the right course of action.

A person should evaluate and do their homework before they get into something before making any changes in their ongoing routine of life. What's the worst thing about this is that some people sell their properties and other important stuff only to have some money that they can use for trading, but end up losing either some or all of it and then conclude that trading isn't for them.

For newbies entering the market, it's important that they don't use money before they understand everything properly and reach the conclusion that they can manage things efficiently and won't be exiting after a few initial losses.

Testing using demo account for trading is really important to do by newbies since they can avoid those unwanted losses that they don't want to experience. There are several crypto trading platforms offering this demo trading thing so better for them to explore  it and test their knowledge without trying to lose some money.

New people are prone to commit mistakes that's why to be more safe from losing their money using demo account will be ideal for them so that they can learn and adopt on certain flaws that they might encounter. I see so many of it saying they can learn how to trade if they spend time and money to learn trading by help of their courses since  most of the time those people offering it is just a scammer taking advantage the innocence of new people trying their luck to earn from crypto trading.

All things have been almost elobrated. I don't have anything to say, but anyway, as a member, I would like to express my position. The first thing to do is to educate, after that basic aspect Technical Analysis as well as Fundamental should be learned. From which you can get driven data of projects. After that you should practice touch like it is necessary to gain experience through demo accounts. So this is actually a basic concept of trading. Apart from this, let me also tell you physlogically that you should not have emotional fellowship with trade.
 
Don't rush into the trade, which means don't enter into FOMO. What to grab a perfect time as a booty. Invest as much money as you can afford. 
 
And the most important thing is not to take high leverage, always follow the trend. The trend is your friend.

A newbie wanted to do trading is that newbies should start learning first before starting to trade. Don't worry about losing profit at the start since that wil be your stepping stone to learn more about trading. Trading isn't easy so having or gaining knowledge first is a must since it will be helpful to you. It is the same as diving into an unknown body of water where no one knows if it's safe to jump or dive or it isn't safe so in trading this means more on losing profit. It is also same when you are planning to start in investment.

Newbie or experienced traders, their main concern must be defending their trading capital. As traders, if they lose their trading capital, what will they do next?

Bitcoin market is here, 24/7 and it's lively every day, not like stock market, so if a trader has trading capital is ready to use, he can wait for opportunities in the market to open a trading position and get profit from trading. Patience and discipline are keys to wait for good entry that possibly increases chance to get profit and reduce risk to get loss.

Before having any entry, a trading capital is a mandatory condition, and without trading capital, no trade can be executed with any entry price.

People will FOMO with the current price fluctuations, so they usually want to learn to become traders hoping for quick profits, even though this reality is not easy, but if people are already FOMO it will be difficult to stop them seeing other people's profits usually.

What is simpler is maybe for me to buy BTC now, it will also rise to $120K in the next year and that can be a profit even if it is only 20% but at least this is not taking more risk.

Asking a newbie to trade is the worst advice you can give such person because by the time the market is through with such inexperienced person, the regrets will be huge and the blame will only be on you. The best thing you can teach a newbie to do is to invest and hold bitcoin for a long term and you will be forever be remembered for giving the best advice. Even if he will have to trade later, the best starting point is long term investment because that is safer with minimal risk. There have not been any report of any long term investor that lost money in bitcoin but there have been countless stories of  traders losing their fortune to trading.

Tokenized Real World Assets, can be a game changer in the evolving crypto world. Talking of not holding on to tokens may seem like a good advice if the wrong token is been purchased. Most people lose a lot of money on trying to keep up with market trends. But those who hold their assets(Bitcoin) like you advised end up making  profits for being patient and meticulous with their decision making. Asset Tokenization is going to take the world on a spin, afterall that is what crypto currency is all about. Digital assets was like a way out of the pandemic. Imagine another pandemic comes. The panic of exchanging goods and services will be modified because cryptocurrency and technology have been utilized.
So, as a beginner try to look out for works best for you. Make your research about whatever it is you want to delve into. Use social medias, company help desk and books etc to broaden your learning scope.

You need to study from the basics so that you can understand what trading is all about because some beginners get tired or frustrated to learn and they go for copy trading or the use of bots. So you need to first master your trading skills before using any other trading options.

However, you need a lot of understanding with candle sticks and types of trader's phycology. Check the links below, they are good for newbies.

https://www.babypips.com/
https://www.investopedia.com/

If you are interested in trading, that is your right, but try to learn before you start. There is a lot of trading advice and strategies that you can learn without a mentor, but you have to be willing to learn it from the internet. Analysis is a factor that will support your success in gaining profits from trading, including fundamentals and technicals. But don't ever hope to get rich overnight, this is almost impossible when you are just starting out. So just do it casually while developing your trading skills.

Firstly I will suggest everyone not to trade in new launched tokens or coins because most of the time they cannot hold their hipe and vanish from the marketplace after a certain period.
I so many coins which got vanished after a period and most of the traders fall in a trap. I will suggest everyone if he want to trade that do not trade in a new project and always try to analysis the potential of the project.
I am not saying that every tookin is like same but some new launched tokens are really worst. So your money your decision but my advice is logical in my point of view.
I can add more trading advises like try to do short term trading and pump your portfolio on the other hand hold BTC and enjoy the race.

You didn't tell us if you have been learning alot about trading, but from your post, it shows you are still inexperienced and might likely make some mistakes if you do not have the right guidance. I will advice that you use this period to form a foundation for yourself by learning the basics of trading. Understand the market and the coin you intend to trade. Practice with demo accounts and learn different trading styles while at it. It's even good if you have a good trading mentor, if you have one, do not be in a hurry to start trading immediately, learn! Once you become confident that you are ready, start small because there are high chances for you to lose money since you are a newbie.

Well, studying the basic skills will do justice to this no doubt, I can’t provide any reliable source or skill because I don’t trade. I learnt trading basic knowledge but it will not be enough for full time trader I guess you want to trade full time, at the moment I will suggest never put your money first seeing you don’t know much. Pay more attention on trading class including the different strategies involved lastly always visit the trading board there’s a probability you’ll learn and make progress.

As a beginner trader you should focus more on learning the basics and dynamics of the market, the mistake a lot for newbies make is that they want to dive into trading without gaining proper knowledge on it. Understanding the financial market doesn't take just a month or two, you need to dedicate enough time to study and research, you must learn before you earn. Another thing that can help you in your journey is to find an expert or mentor that can guide you, this doesn't mean you should go for those that charge too high for their mentorship classes, spending all that huge amount of isn't necessary.

This trade is good in trading board.Investing is more better and it is good you invest for long term and if you know that you are looking for daily profit or weekly profit, I will advise to avoid chasing big profits and as a beginner, don't start your trading with big amount but what you can afford to lose. You can use MetaTrader demo account to practice and when you have mastered the trading then you can deposit small amount like $10 to learn how it works.

But before you start the trading, you have to know the differences between Forex trading and crypto trading. Crypto trading is more complicated than Forex trading.

Trading is all about understanding,  beginners needs to get a very good knowledge in trading as the first priority.  When beginners think of putting profit as their main target they become very desperate to get it by all means and neglect every form of knowledge which can be used to gain profit.

It is important as beginners trading to make profit is not guaranteed by the money that is being used for trading. If you lack understanding in trading no matter the amount you fund into trading it is possible for you to lose it all, success in trading is determined by the knowledge you have. Beginners needs to learn to trade with amount they can afford to lose because the market can't be predicted.

First, he or she should be patient whenever they are trading in the market, because some newbies has lost their income for not embracing patients which is the only way to see good results at the end of the trading. Second advice, newbies should trade what they can afford to lose in crypto trading, because what is gone is gone forever and never you chancing what you have lose in the crypto trading, because it will make you to lose more funds when you are trying to recover the funds. Thirdly, Never you be into competition with anybody in the crypto market if you want to make it in crypto trading, because the moment you are into competition with others traders, it will be difficult for you to concentrate on your goals because your mind will be in other traders success which is not good for newbies to be into competition with other traders.

Having a mentor is not a bad thing for someone who wants to learn how to trade, I think it is normal to have someone who will guide you through some things so that you will not make any mistakes during the process, many people learn how to trade without a mentor but for me having a mentor is not a bad thing because it helps, there is some mentor who is going to guide you in anything you and they will never need anything in return.

Many people don't want a mentor because of what some mentors do to some people but that doesn't stop you from getting a mentor, It depends on the mentor you have, you can learn some things about trading online and if you understand it you will not want anyone to teach you but for me having a mentor is good because you will understand more than online own.

The best advice I can give to any beginner trader out there is to go for knowledge first. It's just like going to college, you are dedicating a specific amount of years to study a course diligently, you also have to develop the same mindset when it comes to trading. You must understand that it's not possible to learn everything within a short time so you must be patient with the learning process. Don't rush into a live account when you haven't experimented with a demo account properly, have the mindset that you can lose at anytime even if you might have strategies to reduce your losses.

Do your own research. Trading is quite complex so you need to know the basics first so you can create a good entry with trading. Make sure to use secure exchanges, and for that, make sure also to protect your private keys. Start with small amount of trading, until you learn to diversify the coins you want to trade. Lastly, while trading outcome is unpredictable, stay cautious and patient all the time. You will never know when to lose or win your trades, so always be mindful and goal oriented.

I will suggest him to continue learning trading to improve his analyze skill. Without that skill, he will not have a chance to make a profit because the market can moves to anywhere. With his skill, he can know when he can trade and when to quit trading so he can avoid the market when the timing is not right. He need to find many good resources and Internet is the best place to start.

He can search from article, videos and else and he can focus to learn what he want. After he learn some lesson, he can practice in the real situation with real money because that will give him experience in trading. He will learn and know what is lack from him and needs to learn more to improve his skills.

Why trading your bitcoin when you can actually hold your bitcoin, this is most important for a newbie and limit's your number of losses with a larger prepotion since bitcoin trading is like gambling most especially the leverage trading, Spot trading is still a bit better since with spot trading, you keep you bitcoin untill and unless you trade it before you lose, which at the end is still loses.

So my advice is just hodle bitcoin and avoid trading, you can better still DCA as best possible means to accumulate bitcoin on a steady basis.

True. This is what often happens to beginners, most of them start trading because they follow suit. They see their friends making a profit from trading and then they want to start trading without adequate knowledge, especially with the market like today, beginners are very easily tempted by profits but they have no basis in trading. So what happens is they rush, plus trading with large capital ends up resulting in losses.

In fact, to be successful in Trading, every beginner must first know the purpose of trading and how the system works, then carry out trading activities with small capital so that they can learn while getting real trading experience. The most terrible thing is having the wrong mindset and thinking that trading is easy, even though trading is difficult and complicated. Because your mindset determines your trading fate in the future.
In addition, controlling psychology, greed, and doubt in trading is also the most important thing in trading. Fear destroys your ability to trade. Greed destroys your ability to make the right decisions. Doubt destroys your belief in yourself and your system.

I think not knowing everything about trading is better than not trading. Because I went to trading with little knowledge, there I only lost my money, trading is not a very easy thing, trading here without good experience you will be in loss.

You are right, our psyche will really affect the results we get in trading. It can be a loss, a full loss, a small profit or a big profit. Therefore, it is necessary to understand the basic goals before trading. If we have $0.2 price target then don't wait for the price to go up higher. If we have an SL target at $0.08, then don't delay until the price goes up again.


You may make a profit because of beginner's luck, but one day you will suffer a big loss because you don't have in-depth knowledge about trading.

The first advice for a new trader is to learn trading first. Learning does not mean that you study for a few days and find out what trading is? and how to trade? It is not that you have learned trading by learning the answers to these two questions. Try to learn trading properly and make yourself a skilled trader, then you enter the trade. For this, you have to learn trading from a trade teacher for a long time and get used to trading with demo. After gaining skills, keep entering the trade with small amounts of money. Never trade uncontrollably, trade with a plan and be disciplined. Protecting yourself from temptation is a very important task. Always keep yourself in control.

When trading, then we should know that trading is not a get rich quick scheme, because most newbies are always desperate to make money from trading, and what most of them do hear about trading is completely different from what trading is really all about. Some newbies do know about trading from all these signal providers, so most of them want those newbies to follow their signal group, and they will make trading look so easy to people, they always brainwash newbies, and they do promise them they won’t be losing money as long as they are making use of their signal, and most newbies always fall for things like this, but in the end, they are always disappointed.

Always trade with what you know you can afford to lose; don’t trade with any amount that might end up causing some health challenges if you end up losing it, and always avoid revenge trading. If you lose in trading, always accept your loss and move forward; if you try to win back your loss instantly, then you might end up causing more problems for yourself.

You must stick to plans, you need deciplined mindset, Trading is not just about the technicals and fundamentals aspect that you usually see in tutorials videos on YouTube,  psychology and management of emotions are what that determines whether you would become a successful traders or not , Lastly,  one thing you must know is that experience is a must, the more experience you are ,the better version of trader you would become.

This is the reality for all traders, we're all going to have our own losses before learning. That's how it goes and this is the real cycle for trading whether you have just started or even the long time traders, there are always losses that we cannot control and we only have to admit that we did a bad trade there. So no one will skip losing but it's more damaging to the ones that have lesser knowledge about trading and the market itself. Trading isn't only about the charts and the market but also look at every single thing in the surrounding of the market because they do give affections as well.

My advice to every new investor is to be well educated before trading, Invest more of your time on educating yourself before trading not only that understand the trading policy aside that you can also get a mentor to put you through it really helps learn from the mistake of other one major thing you have to put in mind is on how to take risk and control your emotions And that's because anything can happen you can't tell because anyone involved in trading most be able to take risk and as a new investor one most start small knowing fully well your new to it. And with time your understand it better

Having enough money and knowledge is what will help you get a good profit in trading. But this does not mean that your path will always be successful in trading, many traders lost more than one deposit before they could make a profit.

The only trade you should concern yourself with is trading your shitty fiat currency for bitcoin and then saving it for 10+ years.

Yes. Avoid shitcoins and thinking that you can make money trading. Just stack sats and hodl for 10+ years.

Just buy some sats and HODL while you continue to learn.

Yes. Here are 21 tools to orange pill yourself: https://www.whatisbitcoin.com/culture/tools-to-orange-pill-friends-family

I just bought, moved to a paper wallet, and then let it sit for a long time. It's this simple.

Your statement is absolutely correct and I agree with you.Especially when one is new to trading, the risk of using leverage is extremely high. Leverage offers the opportunity to make big profits or losses with small capital, but it can also cause very quick losses.So it is most important to learn the basics of trading first.
As much as possible, in the beginning one should practice with small trades and make decisions by understanding the fundamentals of the market.It is good to learn trend, volume, and fundamental analysis as they help a new trader to make future decisions and reduce risk. Another important aspect is to follow experienced traders and learn from their experience.Social media, YouTube channels, or trading forums offer new ideas and tips that can help you improve your trading skills.But one thing must always be remembered in the world of trading no matter how skilled you are it will never be 100% correct and there will always be risks and those who are successful have got something good little by little.

My review on trading is negative as it mostly required years of in-depth learning and understanding before one can start seeing profit from it. Within these years you are likely to lose a lot of money because you will be tempted to test out your trade if you're ready or not. My advice to a newbie is don't go into trading when you don't have a steady cash flow. Rather go into investing with the capital you have or use that capital to start a business. You can tap into that business to get funds you use to fuel your account and practice your trading.

This is the problem. In reality, you can learn faster based on the level of knowledge you can acquire but for you to start seeing results from trading it will take a long time. Being a professional trader takes a lot of discipline, tolerance, learning, and self-build. It's more like the body and emotional activity. When one is in disorder it affects the other one and may hinder you from trading accurately.

This is very vital. Be careful of the resources you get online. The best way to learn trading professionally is to enroll in a professional trading school. You will not just get solid resources from them, but you will have a mentor. The internet is full with misleading information's and people who claim they know a lot about trading especially. Avoid them.

My advice is investing is better than trading. Trading is purely emotional game. Select some good coins and wait for correction and buy. Don't put all your money in coin.

A beginner should know from the very beginning that trading is a very risky. Trading platforms cannot be considered as an easy way to make money. The first advice I would give to a beginner to start trading on a trading platform is that he should come to the trading platform with a very small amount of money so that he does not have any regrets if he loses that amount of money. Buy from many dips and sell when the market is pumping a little. Don't be too greedy, sell if you have a small profit. Learn to analyze candles slowly and study trading books if necessary.

Finally, I would like to say that holding is much better than trading for beginners because everyone can do holding but not everyone can do trading. I would also like to say that in a new situation, no one should get involved in futures trading out of greed for money because futures trading is very risky for everyone, whether new or old.

Starting trading for the first time as a beginner comes with a lot of enthusiasm and confidence that you’ll become rich in a short time, but in reality it is never like that and you’ll need to pass through series of events in the market which can now decide how soon or how far you’ll become good at trading. Trading requires you to be patience, it requires you to have a strategy that’s working more than 70% of the time you try it, it also requires that you accept failure as part of the process of learning. Nothing good comes easy and when it does, it may be luck and you should work better on perfecting that skill more and not give yourself so much hope that you already won over it on the first trial. When you start to trade, you’ll see more things to look out for, the best experience is the practical experience of it.

Not sure what I've posted before here but still my straightforward answer and recommendation is better to stay disciplined as you know motivation can drive some boosting results but that boost is going to be temporary and after a certain period and after that time motivation is not gonna work but discipline is something which can help you achieve your target with consistency and this is what we need as a base for trading in this volatile market.

Investing and holding for the long term is better than trading, but that does not mean there is no risk associated with holding, especially when you made mention of picking a few good coins; the coins you might consider good based on your criteria might actually not be the best, as you can't tell the inner motive of some of the team members behind the development of some coins.
 
I don't discourage anyone who wants to trade besides just holding some shitcoins; shares almost have the same equal risk as trading, if not even more. So if the person can do their research very well and study risk management, I don't think there is anything wrong in trading unless they are prepared to hold a less risky coin like bitcoin, which profit is guaranteed if held for long.

That's the kind of mentality that everyone beginner gets they feel trading is a home were you can make bastard money from which is very possible but it won't be something that will be instantly, it will actually take time to get the numbers that we all desire, and the understanding of the market is one of the keys to unlock those doors of success. And if you start well then your journey should be rewarded based on how committed and dedicated you are to the system and the thing is that is not how long you have been there thay will determine what you will get but how smart you are in taking or making use of those opportunities.

You have to work on strategies to use just as you said and secondly you have to put your emotions under serious control because their people that the moment they start failing they will not want anything else to do with trading and it is not suppose to be so, we know that there are periods when you won't have a choice than to accept what the markets groves you at that particular time, and I see how some guys are good at what they do when it comes to trading because of their consistency.

And were newbies are always having a problem is when it comes to learning they don't want to learn but they want to make money and knowledge comes before profit and that is one of the simple analogy they need to understand, before starting anything.

I agree with you. Practically educated traders make their investment decisions by evaluating their trading a lot and they are ready to buy from a lot of floating cash considering the market movement. It is important for beginners to start trading and consider the buying and selling levels of the market and they have the expectation of getting extra profit and the insufficiency of capital. In addition, they tend to make short-term investment decisions. Considering the investment risk, fear of investment is another important level for beginners which can lead them to miss the event, so I think a new investor should try to get long-term holdings.

The tendency to get rich in a short time through trading can be the most harmful because risky investment decisions with a short time and small capital can be suicidal and the possibility of losing capital. Becoming experienced for trading and the tendency to deposit little by little and the strategy of increasing holdings.

There are 2 things that I want to say since I believe many here already shared most of them.
1. Avoid futures trading if you're a newbie. Treat it like a battlefield with lots of experts on it. If you're inexperience, you will end up losing your money to these people. If I were you, focus on spot trading first and gain some experience.
2. Speaking of experience, expect that your first deposit of capital will be lost. This isn't the case for a few of course, but most of us who started trading for the first time ended up losing our money so, I would say expect for the worst. It's like you're paying the experience that you will get.

AVOID THESE SIGNAL GROUPS FROM DIFFERENT SOCIAL MEDIA PLATFORMS!!!! Please avoid them at all costs and instead of relying on them, rely on yourself. Learn the basics of trading. Learn how to make a strategy and learn technical analysis.

There are many CEXes out there where you can start with, but I'm bias with this one since I'm using it, so I'll say go with Binance. ;)

YouTube will help you gain some knowledge, but experience will help you become a better trader. I've lost multiple times in trading already, and from those losses, I always learn every single time I lose my money. Right now, there's no certainty that I will not lose my money anymore, but I would say that I'm better now thanks to those experiences from the past.

My experiences from the past helped me to be better.

At first you need to make a good research towards trading, because if you don't make a proper research concerning trading you will end up regretting to join trading, in actually sense you need to start with answering questions and also watch online tutorials very well that will enable you to understand the basic things of trading, the basic things that is important is to be able to figure out when is good to trade and when is not good in trading, I know quite well that know when to enter trading and when not has been a problem to soke traders and some people who is newbie, and secondly some trader's doesn't use stop loss order...so at least someone who has passion in trading need to know all this elementary things that has to do with trading so that it will deviate when trading..as I portrays before that learning is the major key that lead you to prosper in trading, but some people will not like to learn and when they get loss or experience loss in Trading they started complaining, for someone to prosper in trading what you all need is to be conscious, and also be determined.

I agree with you, a trader needs to gain experience before starting trading, first of all trading cannot be considered as a get rich quick scheme, rather a lot of time has to be spent behind it.
Trading is something where you always have to do proper research and use the right strategy to trade, otherwise if you make a little mistake in market research, you will lose your money. And to do proper market research and apply the right strategy, you have to learn everything first.
People can learn only when they make mistakes, failure is normal in the beginning, but at that time those who can believe in themselves and find out why they made a mistake, can find out the reason, and can correct it, can achieve something good.
Failure is a part of learning, a new trader has to learn from that failure, and gain experience. Only then can you achieve success in trading at some point.

Having the money and the knowledge are very important aspect of trading. You cannot be a successful trader if you cannot afford to spend on learning the real business, especially when it comes to futures or perpetual trading or even investing on the spot trading, but guys, you also need the emotional stamina and tolerance to be able to withstand loses and take risks. It is one secret you must learn in trading too else you will always regret not joining profitable trades and engaging in unsuccessful trades due to lack of self control over trading.

At first before going into anything try and get the concept About that thing you want to go into, like trading now , you need to dedicate your time to it because is not something that you can just learn over night it takes time and effort to be able  understand and know how it works. And you know there are alot of risk in trading so be cautious with your risk management and stuff , the internet has made it easy for us to grasp information without any stress so all you need to start is on the internet you can get some course and back it up with some online videos (e.g from YouTube) , And we also have trading board here where you can interact and talk more about trading.

It is also this same Internet that has made it so easy for people to be mislead in terms of this trading stuff because I know of many people who actually think they are experts after watching or streaming some suppposed trading expert video online. The large number of naive people who have gone into trading just because of this is quite alarming which makes me even think if trading is now gambling that people do just because they have the feeling that they might win.

Do that one strategy that you already know well over and over enough the strategy only brings little profit, so it better everyday.

And remember this always; it's better to miss a trade than loss the trade.

Hodling is the best advice for real

Only one advice, control your emotions during wins or losses. Newbies often develop false beliefs that they could earn millions from trading and that we all know isn't true because in actual it's not that easy to earn millions from trading, not just from trading but from any other business.

If a trader learns to control his/her emotions then that trader understands that trading like other businesses can give profits but only to those who take it seriously and give proper time to understand the market and its volatility.

Overtime, and with compounding the newbie trader can also become a good traders who earns enough on daily to monthly basis, but only if he/she has controlled his/her emotions and learnt the market in the best way possible.

I agree with you, in trading or anything, controlling emotions is very important. Looking for a shortcut to get rich quick is always a bad decision, but beginners often make exactly this mistake.
They think of trading as the best way to get rich quick, which later leads to big losses.
In a risky place like trading, it is impossible to survive in trading, without experience, without having the right strategy, and without controlling emotions.
So a trading apprentice must first be educated about trading, be disciplined, and always have a learning attitude. And when you make a mistake somewhere, you must first find out the reason for that mistake, and be careful.

The particular part I bold in your post is where the pitfalls normally starts. As a beginner, the biggest mistake to make is looking for shortcuts just to print you money without learning the adequate knowledge you need to be called a trader. The best place to start from is getting yourself the necessary materials which I have seen others already shared in the first page and where to get those materials. You might also need to have mentor if you find it difficult because there's nothing compared to live experience.

One more thing to know, trading is not a quick money scheme. I can tell from the tune of your post, you are looking for a greener pasture and you assume trading as the way out. If I'm correct with my assumption, you are taking the wrong way because trading can possibly send you back to square one especially if you are desperate to make your way out.

In my opinion i think candlestick is good but after reading it i will suggest or advise that before starting up the main trading you ought to have used or try some skills with Demo account it may not be or it is not the same thing with main trading but i think it is going to help a lot to help navigate and get familiar with some tools and you can also learn your own strategy from there. secondly, always use what you can afford lose so that you do not panic when you incur loss because loss is part of the trading as a matter of fact profit and loss are inevitable in trading and do not be so consumed in your thought, discipline is very important have this at the back of your mind.

Trading is what need 100% concentration and carefulness. U need to understand every technique in it, and another vital factor is patience, don't expect it's success so quick otherwise you will fail. It success is been achieved by due process, therefore a bigginer should not be expecting quick success in trading rather passing through due to attain success in trading. Thank you

Do you have any good trader you are following on twitter or telegram after learning how to trade? If no, I will advise you to have a good trader you will be following his guidelines it helps a lot and you can also follow some other traders online, buy their books to get a better understanding on your trading signals. There's no better way to get started other than starting after having a good training from an experienced trader, no one will tell you this you can never get profit all the time but once you understand that it is your lucky day feel free to forget about your emotions and enter the trade with full confidence you are going to keep getting better if you keep trading and learning.

The first piece of advice I would like to give a beginner is not to trade. If you still ignored this advice, then you should only trade on the spot market. But in order to make a profit from trading, you should get enough knowledge before you decide to put this knowledge into practice.

Trading spot is safer than trading with Margin and Futures, and if you manage to buy low, sell high, it brings profit and it's good enough. However, if you lack of experience and good technical analysis, by trading with Spot, you will have risk of losing your bitcoin.

You have profit by buying low, selling highs, but because you can not predict absolute high with each rising wave, you will sell not at the highest price of that wave, and probably will have to buy back at higher price than your selling price. This makes you losing your bitcoin, from 1 BTC, after trading like this many rounds, you can end with 0.1 BTC. You have profit, but less than if you hold your bitcoin.

Never put more money in crypto than you can afford to loose.

Perfectly said, newbie shouldn't or is not advisable for them to go into trading because of how risky it is and considering being a newbie which means one don't have an idea of what you want to go into and there are a lot of person that can not control themselves anytime they loss money is a particular thing because they will strive to have the money back with all means and by doing this they might end up losing everything they have. However, any newbie who wants to go into trading should have a self control in the sense that you don't have to strive to get back what has been lost, don't invest with what you can not afford to let go because some people can be greedy and selfish that they would want to use big money because of how the market appears and the strategy they have.

Trading is of course something that can make us make a profit, but trading is also something that can make us experience losses, of course in this case it depends on the knowledge we have and of course trading requires broad insight because we have to be able to analyze technical and fundamental analysis, if for example we have mastered that then There is definitely the potential for us to gain profits, but if we don't master it, there is certainly a big potential for losses, but what is clear is that for a beginner, if you haven't got enough knowledge, in my opinion, don't do it yet because you are worried that it will result in losses. Or a beginner can start trading with a small amount of money first, if he can consistently win and his knowledge increases then we can increase our capital.

but according to my experience in trading we have to be ourselves and of course continue to dig for information non-stop and the important thing is that if for example we are trading short term look for crypto which has good fluctuations and for me personally I always use the averagedown technique and that way we will have the potential to make a profit and of course we have to also know the right time to buy. and of course you have to be patient when buying, wait for the right moment and use money that is ready to be lost because of course by using money that is ready to be lost our mentality will be calm. But personally, I prefer trading as a side business. And we also need to remember that we have to be able to control our emotions because sometimes in trading we will get profits, sometimes we will get losses. Yes, the point is, there is a lot to learn.

Prepare a lot of money if you want to rely into trading. There is going to be a lot of problems that you'll need to deal with with indicators that you're going to use. It's not enough that you just know trading and how it works with its strategy, you need a lot of money because you cannot do it without having that.

Also this, this is true. Investing or trading, never put any amount that you'd definitely going to regret of putting it. You need to be prepared to lose and to win.

Investing in a business and investing money for trading are not the same thing. For this, you have to spend time and research through the internet. If you can learn trading tips and strategies well, trading becomes easier. However, the point is not that I started trading and became the owner of a lot of money. It is better to use a demo account during training. You cannot expect extra profits in a hurry during trading. You have to be patient and not take risks by completely exhausting your capital so that if you lose, you will be completely ruined financially. However, I think it is better to buy Bitcoin and hold it than to train.

For a newbie, the first advice would be, never invest from your food or living money in trading due to risk and volatility, temporary loss can make living hard and can lead to stupid decisions therefore, play safe, and try to make a consistent profit with lesser lose trades.

Never go after big rewards and always diversify, but don't over-diversify because that can surely reduce the risk but the reward will be much lower the newbie might not like it. I learned about fundamentals most but learning technicals is also necessary, so learn some basics from both from anywhere and never follow those free premium telegram groups for trading always check their accuracy first.

If you have no trading knowledge or strategy of how you are going about your trading journey then it will be all gambling!!

Secondly, am not a fan of indicators as they lag and as a newbie get to learn the technicals..trade with nakedness charts.

Youtube is not a bad place to get you started with the basic information,  so that could be a start.

Am certain others will suggest baby pips which isn't a bad one too...otherwise after getting the basics trading view is a good place to practice whatever you have learnt especially that you can trade Crypto and other assets of your liking.

The game of trading is about experience, Therefore start with demo account to practice trading and when you must gainrd some experience then you can start your trading journey,  there are people that has passion for trading and can do well, encouraging you not to explore your luck in trading wouldn't be a good one , if you have the believe that you can become successful in trading then you can rule your world in trading, However, trading isn't an easy stuff you can learn all just for a week or month, but can learn the basics within this time frame but with time you gonna advance your knowledge while practicing with a life account.

Trading is not gaming, and trading is not gambling. It's none of gaming or gambling, I am seriously.

If anyone consider trading as gaming or gambling, it's will result in bad trading approach like gaming or gambling, so it contains bad capital and risk management in mind. Then, in practice, I don't expect that trader will have enough proper capital and risk management for his trading capital.

With bad management on capital and risk, loss is nearly unavoidable and even bankruptcy is possible too.

Trading requires to use Stop loss order as one of best weapons in trading (https://bitcointalk.org/index.php?topic=5173189.0).

Since you said that trading is neither gaming nor gambling, can i ask you this question, do you make profit at every entry in your trading? Listen, anything that has almost equal risks of losing and making profits is gambling because you are not guaranteed of making profits from it. I do hear some people talk about risk management and one's approach to know the right time to trade but above all, it's all games of probability. I know some persons have made huge amount of money from trading and they now feel that there are strategies they use that is why they have been profitable from it but believe me, those big traders lose huge amounts of money sometimes at a trade they feel they will make profits from it after doing technical analysis and all that. Trading is a brother to gambling, take it or leave it.

Starting with a practice account is great way to try trading and build confidence before using real money. It is good that you are encouraging people to follow their passion for trading as long as they know it is not easy. Becoming good trader takes time and hard work and always learning. While you can learn basics quickly it takes much longer to become good enough to make money trading. If you keep trying and have right attitude anyone can get better at trading and reach their goals.

Trading is not an easy thing. Even many big traders face losses in trading. To be successful in trading, you must always have a learning mindset, and you can learn better if you start with a demo account in a new situation. You must first learn all the aspects of trading well, controlling emotions during real trading is very important.
However, a new trader must always have a learning mindset at first. Because after you learn all the aspects by trading on a demo account, when you start trading with real money for the first time, you may face losses, but those who can control themselves at that time, and try to learn better, will definitely succeed at some point.

Consistency, ambition and dream... Trading was something I never imagined to have learnt in my life time. I always feared the risk of loosing money to the financial market as trading was very risky the way I looked at it back then. Though I can't yet call my self a pro, but with the little experience I already have, I can proudly call my self a trader. What got me this far was that I actually went out of my comfort zone to learn more about trading. Even when I kept losing, I didn't stop as I know if I was able to learn, I would make back more than what I lost to the market. That's how trading works. You just have to be consistent

I see things like that only differ in how they work because investing in a business whose ultimate goal is to sell products that have been made by others into the market will not be much different from trading in the market which in essence also has to buy one or several coins for the purpose of profit in the days to come. And actually it can only be considered as a trade, not an investment, even though it basically also requires initial capital, but if someone immediately buys Bitcoin and holds it for a long time without selling it in the near future even though they have seen a profit of several percent, something like that is worthy of being called an investment because they don't have to monitor the market every day.

Trading can be highly risky that’s why beginners as much as possible should stay away from trading. However, we can’t stop these people to enter trading if they really insist to try trading, hence they should practice high caution, otherwise trading can only be a waste of time and money.

Furthermore, if a newbie decides to enter trading, he must be well-equipped with the different resources available, be it online or offline. And never trade with emotions as it won’t be based anymore with analytical data but high emotions that can trigger the success of your trade.

To start trading for beginners, especially if you want to get out of your comfort zone, and have to trade with high risk. The first thing you must have is the right crypto trading exchange, and there are several things to consider when starting crypto trading, including you must understand how crypto works, learn the basics of blockchain, and you must start trading with a small capital. Those are the basic things to do, don't underestimate the basics in the crypto world, especially now that you are in the right forum, of course it will make it easier for you to learn trading and learn about crypto that has a strong foundation from this forum.

This forum is very complete for learning cryptocurrencies, especially for trading, the most important thing is not to be lazy to read, many provide complete explanations of the basics of crypto and the concept of self-storage. The point is, after you learn the key to success in trading, the decision is back to yourself. because each individual must research and fully understand the risks associated with investing in cryptocurrencies. With extreme market volatility and the potential for fraud, you must always be aware. So before making a significant investment, it is very important to do your due diligence and only invest in reputable platforms and coins.

If you look at the process of trading, you will understand that it is very similar to the process of gambling. If the gambling in gambling is 100%, the gambling in trading is up to 70%. But for those traders who do not know how to trade but decide to trade, they are actually gambling. You cannot successfully separate gambling from trading. Has cryptoprincess has said, if you are not sure of the outcome of your investment or it is something of 50/50 chance, know that you are gambling. If you look at trading or crypto investment, you are always advised to thread what you are able to lose and that same advice goes to gambling. You should only gamble the portion of your money you are able to lose.
However, why gambling depends so much on luck, trading in the other hand depends both on luck and skill.

They said that every successful person starts with the decision to try, but for a newbie is very important for them to seek for enough knowledge about the trading before they should introduce themselves into it; since it involves of many risks and as a newbie’s they can’t get mind of afford every risks that is involved: that’s is very good if a beginner can try to have knowledge before trading so their future will be bright with profits.

Trading deserves a lot of things that he/she need to know so that they can know face any challenges when ever they across any issues, because not every beginners are able to stay active online in every moment and that’s what the trading deserves and then have enough capital that you can start trading that’s all.

Trading it self is meant for everyone I don't understand why most people think it is only the newbies that experience losses in trading while there are millions of experience traders who still losses money like newbies.

Now concerning the issue of newbies jumping in to trading, the only thing I will advise is for the newbies to attain some level of training before trading because it will help them to know the right time to trade and how to enter into the market.

Any trader who still losses money as a result of trading with emotion is an unserious trader this is because he or she already knows that it is difficult to think right when your emotions are not stable, traders should learn to be calm, courageous and smart, you either gain or loss in trading the choice is yours to keep trading.

I don't see the gambling in trading up to that extent of 70%, I'm not disputing the Idea that there's some kind of gambling in trading but it shouldn't be that higher for a trader that knows what he's doing.

When you know your stuff, you won't be gambling but taking a bold step that you're almost guaranteed to be in profits by the end of your trade. The few times that I traded I found it quite entertaining because for you to make a prediction repeatedly and it all come out as you predicted, it shows that you know what you're doing and this make the difference.

An advice I can give someone that has not traded before or is just picking interest is to ignore it and focus on being an investors. Just look for how you can be getting steady inflow of cash and be buying Bitcoin.

Am not a trader but if you want to trade Bitcoin (crypto) you need to be patient and consistent so that you can understand the market, also be updated on daily analysis in trading. Before this you need to know that trading is not a get rich quick scheme because this is what makes a lot of traders to lose their capital and their profits. However, a trader shouldn't trade with emotions because emotions can ruin their trading career. You also need to manage your risk on risking what you can afford to lose by setting stop loss.

In fact, trading will give you two things, either it will make you very rich, or it will make you completely poor. First of all, trading is not for everyone, "trading is very difficult at the beginning", but while learning trading and trading on a demo account, it will seem very easy to you, but when you finish learning trading and start trading with real money for the first time, trading at that time is not like trading on a demo account. that time trading will seem much more difficult. you will lose a lot of money at first, you will continue to lose a lot, and this loss is the main time to learn trading well.
During this time, those who will observe their mistakes more deeply, and later correct those mistakes well, only those who will achieve success in trading at some stage. But during this time, those who will become emotional, and continue to trade on emotions, will lose everything in this way, and they will never be able to achieve success in trading.

Expert advice to stay on the moderate side of investing at all times can change your life and you can prioritize your strategy. Learn to avoid putting your entire capital into trading. Learn to invest in disposable income. Take time to build an emergency fund gradually. You can apply these tips to any investment short or long term and try to keep yourself away from poverty.

In the beginning of trading you should build up your investment portfolio by making regular buy and spread your accumulate over different periods. Build a decent sized holding in the portfolio and then decide whether to invest long term or short term.

You should be interested in long term savings over short term trading if you have a sure source of discretionary income. And you should withdraw yourself from short term trading profits for long term financial potential. With a few years (4-10 years) of  savings you can spend your retirement time with a lot of financial peace of mind. Try to increase your savings over time.

Very good advice, yes for beginners who want to enter the crypto world, they must learn slowly about market analysis first because by learning to analyze the market, traders can develop or seek profit in it.
And in my opinion, as a beginner, you must also have a good awareness that trading is not a place where someone will get rich quickly because in it there is a process that is not easy and requires patience and precision in acting.

I don't have much experience in trading either. But I have been wandering around the trading platform for quite some time. Since I don't have much experience, I can't get involved in trading, and since I don't have much cash, I can't trade on the trading platform. But I thought in my mind that with some cash, I will slowly prepare for trading because if you don't take risks, you can never learn anything successfully.

Trading is not a get rich quick scheme but most people normally have this feeling that whenever they enter trading that they are going make quick money which is leading them into losses, just like what one of guy was telling me recently, the guy is a trader he said that whenever they paid him salary that he normally use all the money in trading, and at the end of day this guy would end up losing. I have advise him so many times that trading is not a get rich quick scheme but this guy didn't want to hear which is coursing him more losses.

As a newbie who wants to go into trading he or she should be aware of the risk they are going to take during their time or period in trading. Trading may seem to be easy to some people, some set of people think trading is easy and the reason is because they haven't incur loss or maybe they haven't venture into it already. Trading to some extent is more than just learning, analyzing and some sort of calculation perhaps it entrails or it is beyond just that and having a strategy is very good but one should know that strategy doesn't work all the time because the market is very hard to grasp and in this note I won't advise any newbie to venture into trading yet but they should have more knowledge and understanding and also grow to an extent before they can think of trading. It has render some people useless and some people has also made it through it.

I completely agree with you about people wrong ideas about trading. Many people think it is way to make money quickly and easily but that is not true. Trading requires being careful and patient and having good plan. By the way it is sad that your friend did not listen to your advice and kept losing money. It is very important to think realistically about trading and understand that it takes time and effort ot just quick try. I hope your friend will learn from his mistakes and start trading in smarter way.

any beginner that started trading newly, I will only advice the person to learn properly before they involve themselves in trading, because most at times what make some of us to complain about trading is inability for us not to learn properly, trading is not gambling, so it's gambling you will think that it has to do with opportunity only, but in trading you have to know some key things that will make you to overcome loss, but people doesn't know such.in trading the primary thing there is ability to understand the basics things of trading,  so that's the thing a beginner have to know, and a beginner should not be desperate in trading because out of desperation leads into lost.

The best thing to do right now is to keep learning, and at the same time keep looking for capital to start your trading journey; do not borrow to start even if you have good knowledge about trading. If you are able to get it right, you can be confident it the little amount of money you have to start trading in order to grow the capital, and do not be greedy so that you can maximize your profit.
If you want to trade, do always use exchanges that have good  reputation to avoid losing your money to exchanges.

A clear example of misguidance. The guy you have mentioned must have watched some influencer saying it is very easy to earn money from trading, or he might have seen a lot of clickbait images on YouTube and social media platforms where people only show their profits to instigate curiosity among people but they never show their losses and newbies think that you won't lose much in trading and it is a great opportunity for them to make easy money.

There are indeed countless opportunities in this market, and people are earning a lot of money from it, but everything is possible with knowledge and experience. You can't expect to have the same results as a newbie, which a person gets after spending years in the market and the industry. So, the first step for newbies should be to understand everything properly.

These social media influencers and YouTube content creators only tell you vaguely about things, they won't talk about clear risks because afraid of scaring people away and they don't want that since it can possibly reduce their viewership.

You are right there is some much risk involved in trading accumulating and hodling bitcoin for a longer time is the best way to go if the money to start up bitcoin investment is available provided you have a steady cash flow you can also set aside your discretionary income and start accumulating Bitcoin gradually using the DCA strategy to accumulate Bitcoin where you can be accumulating Bitcoin regularly either every weeks or months irrespective of the price of Bitcoin and HODL for longer periods of time which probably be between 4-10 and more.

DCA method is the best investment strategy in Bitcoin investment, because if an investor wants to invest away from the pressure of short-term fluctuations and volatility of the market, he must use DCA. And for this, he must have a discretionary income and a steady cash flow. And to prolong DCA, it is very important to keep an emergency fund and reserve fund ready along with discretionary income. And in this way, if an investor holds DCA for 10 years or more, he can profit well from Bitcoin investment, but this is not guaranteed. Because Bitcoin never gives an investor 100% guarantee of profit. So after all, if an investor continues DCA continuously for 10 years, it Only has the "potential" to give good results.

Trading with emotions is one area that kills a lot of traders because their decision will be very biased, and the result will be for them to be losing more money, and another type of trade, which I will also advise beginners not to get involved in, is revenge trading, that type of trade which they will want to chase their loss and try to recover what they have lost in the previous trade, which they will now have to go in with higher capital in order to minimise profit or increase their risk level so that the ROI will be higher; such type of trade also ruins traders.

My advice if you want to carry out trading activities, prioritize beginners, learn about trading and the methods of experts who are willing to guide you when trading in the crypto market.

The bottom line: trading in the crypto market is high risk, let alone beginners, those with experience and experience in trading can get trapped and experience losses.

If this is your first time getting involved in the world of crypto, don't do it straight away, learn from an expert, you have to study carefully what type of crypto you want to trade, Next, understand the current market conditions and the many things you need to learn before you go any further, so that you don't suffer real losses.

Of course, in the world of trade there must be an analysis to solve the problem, meaning that as a beginner trader you must be able to get profit by applying the consistency of the selling value in the market, namely by seeing and comparing the selling and buying prices of products around you. And do not forget that as a beginner trader you must also be ready to take high risks in trading activities, you must be ready to accept all the risks because competition between traders is increasing and it is not easy for beginners to be good at managing and processing good strategies in running it.

learning various things about crypto trading from experts can be a solution for beginners who want to trade in the crypto market but have no basic knowledge about it. they can watch videos on youtube which are usually shared for free, or pay for online classes about crypto trading, and from there beginners can learn slowly while reading how to trade well and effectively in the crypto market.

having no experience or method and immediately trading in the crypto market can be suicide for beginners. that's why beginners must solidify their basics before they jump into the crypto trading market.

Analysis is very important when ever anyone have decided to want to trade and aside the analysis the mindset have to be built on another different level and the more we venture into ot the more we learn because the more experience you get the more you learn and if you are someone that actually follow experience trader you can even do better but we just have to be ready to learn because there are people that have intrest but are not ready to learn. And we need to know the importance of knowing and when thay conviction is settled the only thing that will be remaining is to know how to also control your emotions. Traders will take more risks even more than gamblers, because if you want to make it big then you have to be ready to take that risk because the risk is what brings the money. And you just have to develop good skills from making from the market if not you trade and you won't get someone good in return.

Yeah, definitely every Newbie needs to learn various things about crypto trading. Because it consists of a high volatility index. A little mistake can cause you serious hassle. So that's why I often give this advice to new traders that before jumping into trading, you should know about every bad touch of trading that can cause you to lose. In other words, first of all, you should be well aware of all the risks of trading that can harm you, for example, leverage, greed, market dynamics, etc.
 
According to my theory, newbies should emphasize HODL rather than sub-trading. Because there is less risk in it, and if someone wants to do bill trading, then Spot is a better option. Along with this, it is necessary to follow a few more points. i.e., Always follow the trend, choose a low amount for trade, and prefer minimal leverages as compared to high leverages.

Well, beginners should stay away from doing trading but they can still learn trading by watching good videos by famous traders and or by reading trading related books, and then they can start testing the market with demo accounts. Although, I never suggest anyone to use demo accounts but still when it comes to beginners who aren't financially good or who are students then in such case it's better to begin with demo account.

After learning principles of trading, a beginner should do trades with real money, I know the new trader will most probably lose money in his/her trading journey but from those losses he/she will learn that how he/she could have saved himself/herself from those losses by controlling his/her emotions during trading.

There is no way that anyone will be able to do trading with the knowledge on analysis because that is part of the criteria that will help you on this journey, when you start trading profit is not a mind set at all because at first you might not get anything based on they are just starting and to avoid lots of money lose coaches or mentors will advise beginners to use demo account at least it will help them reduce a lot of risk losing there money and it's like a new system.

And consistency matters a lot because the more you are more consistent the more you are doing well because when you don't trade more often you will be left out because a lot of people are always given up easily when they are suppose to be trading and getting more experience because that is like one of the most important thing they need.

The more you are ready to learn the more you are ready to do wonders that is what is making this whole thing very sweet and you will face less challenges.

Yes, that's right, maintaining consistency in trading is also very important besides analysis, so with consistency a trader will also be more confident in how to organize, determine how to sell so that it remains safe even though it doesn't make much profit, because a trader who applies their consistency mostly takes only a little profit with the note that it does not change the spirit of his trading work.

Yes, by learning little by little about the right and safe trading formula, traders will be smarter in organizing and selling their merchandise and I am sure that unconsciously the trader will feel happy because he gets good and satisfying results.

There is no special secret to trading, the more you research the market, the more you will understand how a coin in the market performs at any given time. Trading is not something that anyone can learn overnight. However, I can give this advice to newbies that in a new situation, without understanding trading or market analysis very well, you should never go into leverage trading such as margin trading or futures trading because crypto is very volatile. If someone enters a coin with high leverage without properly predicting what the price of the coin will be after 1 hour, then his fund can be liquidated quickly, which can be a very bad experience for new traders.

By avoiding leverage trading and trading with small amounts in spot trading, he will understand how the market behaves and he will gradually enjoy trading.

The last thing a beginner trader needs is to take high risk because if he try that, with few losses he will be out of cash and possibly hate trading. Instead of taking high risk, a beginner should even practice demo trading which is paper trading that is available in most exchanges. This will enable the beginner understand how the market works and practice whater strategy he chooses to use for the trading. It will be a disastrous mistake for the trader to be carried away by the desire for quick money so much that they will ignore the need to practice.

As a beginner, it's not easy at all, because it's the most difficult stage in life.
But when it comes to trading, the first thing to do as a beginner is to trade with what you can afford to lose, because trading is a game of emotions, and your ability to control your emotions defines if you are going to be successful or not.
So if you can trade with what you can afford to lose, your emotions will definitely be in check and you wouldn't have to make any rash or stupid decision that may compel you to loss money, so trading with what you can afford to lose is very much important if you want to be successful as a trader.
Another thing you really need to pay close attention to is to know when to stay off the market, this is one particular skill most trader even veterans traders lack, if you can attain all this skill as a trader, then I am convince that you are good to go.

1. Start Small and Manage Risks
Begin with a small amount of money that you can afford to lose. Don’t jump in with all your savings, as trading is inherently risky. Use stop-loss orders to limit potential losses on each trade.

2. Educate Yourself
Learn the Basics: Understand concepts like support/resistance levels, market trends, candlestick patterns, and risk/reward ratios.
Online Resources: Websites like Investopedia, BabyPips (for forex), or YouTube channels on trading can be invaluable for beginners.
Books: Look for classics like "Trading for a Living" by Dr. Alexander Elder or "The Intelligent Investor" by Benjamin Graham (more investing-focused).

3. Avoid Overtrading
It’s tempting to trade frequently, but overtrading can lead to unnecessary losses. Be patient and wait for clear setups that align with your strategy.

4. Focus on One Market at a Time
Whether it’s forex, stocks, or crypto, start with a single market to avoid spreading yourself too thin. This allows you to focus and gain deeper insights into its behavior.

5. Use a Demo Account
Before committing real money, practice on a demo account to familiarize yourself with trading platforms and test strategies in a risk-free environment.

6. Develop a Strategy
Don’t trade based on emotions or gut feelings. Have a plan that defines:

When to enter a trade.
When to exit (take profit or cut losses).
How much to risk per trade.
7. Stay Updated and Adapt
Markets evolve, and so should you. Follow financial news and updates that can impact your chosen market.

8. Beware of Pitfalls
Avoid blindly following “gurus” or social media advice.
Steer clear of high-leverage trading until you’re more experienced.
Don’t let FOMO (Fear of Missing Out) push you into trades.
9. Seek Mentorship or Join Communities
Engage with more experienced traders in forums, Discord groups, or other communities. Their insights can shorten your learning curve.

In fact, the first mistake of a new trader is that he starts trading with real money without knowing trading very well, so he only loses his capital.
For a new trader, demo trading is a good thing while learning trading, because of this he can gain general experience in trading, but just gaining general knowledge is not enough, to be successful in trading, you must have deep knowledge about trading. Because in trading, everything can be lost because of a very small mistake, that is why if you are not perfect in trading, you cannot achieve success in trading, and to become perfect in trading, you must always have a tendency to learn. And you must always practice, remember that practice makes perfect. That is, the more you learn in trading, the more knowledge you will gain, so you can also achieve success in trading.

If any newbie skips the learning process then he would probably land himself in a dangerous situation because trading is something that require learnt experience to actually guide you through and ofcourse that newbie must be patience enough to learn consciously the whole aspect of trading and all the pattern to read and understand the concept that covers the field. So many newbie think it's all about buying when value and selling when it's high but a whole lot of competition involved.

Without analyzing the market very well then there will be kind of difficulties with archiving what ever goal you want to archive because it has become that without analyzing you won't be able to do trade because you will only act blindly and the chart is suppose to be a guideline so that things don't fall out of place and that is why no matter how good that trader is he or she most go back to the chat because of how important it is, and the moment consistency is applicable in the market then they will be able to become perfect in that craft and the only way that can be archived is through consistency. And I will even like it when traders actually do competition ot will encourage people to want to trade the more. Everything is also about how dedicated we are about what we love doing.

If the newbie doesn't want to learn before they venture into trading, they will learn the hard way after losing everything they go into the market with, because some of them think it's as easy as it appears, and some prefer to learn with experience, which makes them skip some important fields that they could have covered if they had paid attention in acquiring trading knowledge, but no doubt practice makes them learn easy, but that's after you have lost a significant amount.

When it comes trading learning to have understanding is the principal, the mistakes some beginners when they come across trading is that they only learn briefly believing they know about trading is enough to make successful trade. With these little understanding beginners have acquired in trading, they make mistakes of investing with the amount they can't afford to lose.

Learning to have understanding in trading is just like a road map, when one lacks understanding about trading it is believed that cam be lose along the line not knowing his/her left and right.

Learning is the main thing every beginner needs in trading, it will prevent lot of loses and mismanagement of fund in trading. Trading is risky on it own and it will be a big risk for anyone to go into trading without having any interest to learn.

Actually, I don't look at trading and I have no idea about how trading works. but before you go into trading I hope you're aware of the risk that are involved in trading? However if it is your first time of being in this crypto space I will advice you start  from crypto investment like bitcoin investment so that your first appearance in this crypto space will not be a regret to you, because this trading aspect you're talking about requires enough knowledge before you could think of getting started. isn't what you just wake up one day and decide to start trading, no it never works like that so just make sure you're doing the right thing this is the only advice I have for you.

You are right, in fact, a new user should not go into trading first, because trading is never an easy thing, to survive here you have to learn and know everything about trading first. And for this reason, starting trading first is not the right way for a newbie.
A newbie should start with investing first, especially Bitcoin investment using DCA. If a newbie starts investing in Bitcoin in DCA at the first stage, and decides to keep it uninterrupted for the long term, it gives a newbie a stable entry point, by reducing the impact of market fluctuations.
However, a newbie should start small, and learn trading gradually, and practice on a trading demo account. Success cannot be achieved from trading first, so it is necessary to learn everything before starting trading, and the crypto space should be started from a safe place as possible, such as Bitcoin investment using DCA.

Some newbies can literally get lucky taking big risk at the initial beginning of their trading journey but of a truth such at a very beginning of trading could coat them their account as its not a sustainable strategy for trading,  it will not be long before they may get to lose their account and all that they have got in such accidents.  Paper trading is good but isn't what one should stay too long on as it may not encourage growth rapidly but may eventually geese them to be slow with their growth.

Trading and investment actually have almost the same risks. That's why newbies need to learn firstly before they start trading or investment. I don't think investment will be safer for newbies if they have no proper knowledge. The point is to have sufficient knowledge first before they start trading or investment. Newbies can invest in random coins that may be very risky, it also may lead them to severe losses. However, it will be quite safe to start investment with Bitcoin. But it still requires to know its cycle at least, newbies need to understand the right time to buy and to sell the Bitcoin.

Yep, DCA is quite good way if newbies have limited funds. As long as they start DCA in the bearish season, it is okay to do it. But DCA doesn't guarantee the newbies to gain good profits, it is only the way to collect the Bitcoin. Newbies should know well the strategy in the investment, it is not so different with they way of doing trading.

IMO, it is not a must to do investment first. Newbies can start trading if they prefer to do trading. But makes sure that they have proper knowledge firstly.

No, they don't. Trading is way riskier than investment if you understand the context. Trading refers to the act of buying and selling assets in shorter terms to gain small percentages of profit from each trade, whereas an investment means that you buy an asset and keep holding it for a longer term to get your desired profits and then sell it when the time is right.

Trading is riskier because it is more difficult to predict the movements of the market in the short run, but when it comes to the long term, it becomes a bit easier. For example, if Bitcoin was at $50k a few months ago, someone could say that Bitcoin will hit $100k in the future, and they would be right because we know that the market tends to go up in the long run. The same person wouldn't be accurate if you ask them about the price of Bitcoin after a week because it is not easy to predict that.

So, even though I agree that newbies need to learn before they get involved, in general, investments are a safer choice for newbies.

The best advice has already been mention and I'll tell it again. And that is to not to trade at all for beginners.

Don't be so hyperactive as if you need to be a day trader for you to earn. That's not true, you can be passive and get to know more the approach of doing the DCA thing.

Right.

Every newbie out there, this is what we advise to all of you.

You assume I don't understand the context but you actually who don't know the context.  ::)
Read again what I said above!!!
- I said "almost the same risk", not "totally the same risk".
- I said investing in random coins can also be high risk.
- I've admitted it will be safe to invest in Bitcoin.

Please, please... Read carefully!!

It is not as simple as you think. Sure, it is very challenging to gain profits through trading because it is a very short term. However, it will be more challenging to invest in random coins. You don't know whether it will end up with profits or losses. Again I said, the context is about investing in random coins..

As a beginner you must focus more on gaining knowledge, trying to trade with a live account after learning just for a few months isn't really adviced. You need time to work on yourself especially in the aspect of displine, a trader that lacks displine won't go very far. Find a mentor that is very knowledgeable about it, work on strategy development and make sure you take back tests and proper analysis. Make use of a demo account till you are confident enough to trade on a live account. But be warned trading on a live account is different from a demo account, you can have successful trades on a demo account and lose constantly on a live account. Also the principle of risk management.

Firstly, I'll say trading crypto is more riskier than investing in crypto due to its volatile nature,so think wisely before choosing.Acquiring knowledge on crypto trading is very important before diving into it,in essence understanding the fundamental strategy of trading it's important to every beginner that has the passion for trading their coins.A beginner who has a passion for trading their coins should also devote that same energy to understanding how the market works, or they risk losing in trading.Those successful traders in the industry started as a beginner,so don't have this double thought if you have the passion for it, keep learning and practicing trading it would help as a beginner,and endeavor to use a legitimate exchange or trading platform.

I don't know if I have come across this kind of thread before, but what I know is that if you want to began trading, what you need to do is to acquire the the basic knowledge of trading, because I know very well that trading has to do with skill, and you need to understand the concepts rudiments so that you will not be victims of it, it's quit understanding that the key of trading is to know the concepts and how to overcome loss, to overcome loss will be achieved if you know the concepts of trading.

As a beginner the only thing that should be important to you is seeking knowledge, a lot of beginners nowadays are impatient, they just want to dive into trading and make money from it. This isn't a lottery, it's a financial school that requires determination, consistency and discipline to become successful. Don't expect things to get easy at the beginning, things might seem rough and probably feel as though it's not working out but with time your hardwork is go to pay off. As a beginner just stick to learning more, give yourself time to understand it, if you rush into the market you'd rush out.

as a beginner you must have a clear trading system first

such as techniques and also money monegement

to be able to get it you can start from a demo account first, then try to be consistent for 6 months, if you succeed in making a profit of at least 10% for 6 months

then you can continue to a real account

and remember during trading do not over trade and also have money monegement

if you are a beginner, then you can start a demo account first

the goal is to
-you get used to the trading platform
-you can apply techniques/algorithms that you trust
-you can apply money monegement

during the demo, you can have a profit & consistency target, for example 15% only in 6 months, or 2% every month, if the target is achieved then you can start trying a real account with a small capital first until it starts to be consistent then you can add according to what you are comfortable with

as a beginner, what I can suggest to you is to use capital that you can accept if you lose, so don't use your main income, but use money from your second income, so that if you lose or it doesn't go according to your trading plan, your life can still go on, because trading definitely has risks.

that you can remember, that trading is a long-term investment

so maybe most beginners think that trading can quickly generate big profits in a short time, that's not right

because trading is an investment, so it takes patience, technique, and money management

then choose a broker that has positive reviews and also fast response customer service

That is the best advice you can give a beginner, he has to learn before he begins trading. That is the crucial element before he can succeed. Without information, nothing can be accomplished since whatever you are attempting to do, whether trading or investing, you must understand and seek knowledge in order to reach your goals. Trading is not something you can study in a few weeks or months and assume you understand everything. It is incredibly dangerous, and it takes time to comprehend everything about it. It is extremely dangerous since you cannot foresee what would happen you can either lose or gain.

When you do not have enough funds to take a risk on trading, the best advice is to make an investment that will definitely reduce your risk of losing all of your funds, but if you are patient and you will learn and actively pursue your goals in trading, because many traders succeed and use their trading profits to invest in bitcoin to increase their money.  And just so you know, before you start trading, make sure you have something to do so that he can support you. If you lose, you will get another fund to try again, but if you don't have any funds, don't try to trade because he will definitely affect you.

To aim to become an excellent trader, you must be ready to actually want to learn because the moment you dont want to learn, then the dream of becoming a trader should not even cross your mind, and putting in effort to learn for those few months is going to be very beneficial because even with the help of using a demo account, it's going to be a serious help to anyone. The longer you stay to learn, the better, but we know how humans are we always want the easy way out, and there is no way that we are going to go for knowledge and not get profit, There are a lot of things that you are going to learn within that period. Knowledge is expensive, and if the funds are there, I will suggest the person actually go to learn, because even when you are in those academy, they will only agree for you to use a demo account, which is the right thing to do because you can use all the money made available there and it won't even affect you, so its not a bad idea at all, if not the amount of money that would have been spent on trading, and no gain is going to be a huge amount of money, so there is a point in using the demo account.

As a beginner and you want to start trading of course is not a bad idea but before you think of getting started first you need to learn so as to know the basic tools to use and also the strategies to take, you know trading requires enough knowledge before you can think of getting started is not like bitcoin investment that does not requires enough knowledge this is why I don't always show interest in trading. because it takes a very long time before one can get all the necessary information about it and also considering the risk that is involved in trading, Though is a matter of choice, for one to make such decision I think he has something in mind of which I don't know.

Trading can be a good idea to earn more in the short term, but you need to have sufficient capital and experience to do so. For novice traders, investing before analyzing the market is a high-risk possibility that can cause them massive financial losses. Setting a strategy for investing is more important for beginners because they are more likely to make wrong decisions due to their emotions and to bring it to a stable position through the proper basic tools for implementing business decisions.

Well if you don't have a stable source of income, it's better for you not to trade, besides it's a more risky investment. I recommend long-term investments for beginners because making small deposits every week or month will increase the holdings and the possibility of extracting sufficient profit from each cycle.

Best trading advice for a beginner

I always tell my family and friends that trading isn't easy and the risks is high whether you are in spot trading or hell trading like futures haha, is simply trade needs proper knowledge. There is a short video on my Instagram and says that 90% of newbie traders are losing money and for me, that is true if I combined all my profits and losses of my entire life the answer is I'm still at loss.

Im not saying Im a professional trader but right now I'm just trying to get that money back and it works even tho it's hard. If you have a regular job, don't resign and go full-time trade. Just learn right now how to trade watch some youtube videos and create your own startegy

Trading is not really an easy thing, if you do not have the right knowledge about trading or trading in its entirety, it is very difficult to make money from trading. You are right that most people lose their money in the initial stage, because no one can trade accurately in the beginning, everyone has to lose a lot of money in the beginning. But at that time, every loss should be seen as an inspiration to learn more. Trading is not a small thing, it is very difficult to achieve success from trading.
I heard one thing, that trading is mainly which people for?
Trading is not for "poor" or "middle class" people to make rich people. Trading is for, make rich people to more more richer people.
Because in the beginning, you have to lose a lot of money from trading, which in the case of a "poor" or "middle class" person, you may have to lose more money than they can afford. Which can lead to more financial losses. But this may not be the case for everyone. Those who can learn trading consistently, patiently, strategically, and well, They can still be successful in trading without incurring these types of losses.

Thanks for sharing advice here 😊 I’m new and want to learn risk management — what position sizing rules work for small accounts? Any simple strategies to start with?

Unfortunately people are here to make money faster, I believe that Spot trading is the best but also the slowest way to make money, it can take weeks to make good amount of money just by buying low and selling high but with futures trading you can make a significant amount on a 10% move up or down.

What many forgets in spot trading is there is no way to lose money here compare to futures because it's a waiting game, just wait it out and it will happen.

I've been trading for years and I've come to understand that you can't always win even if you are a professional trader, the so called pro traders also lose money too, the wrong calls will find you at times.

Even when your trusted indicators are pointing to a certain trade as a sure outcome you must consider the risks available and risk only what you can afford to lose.

We see that those who hold Bitcoin for the long term can achieve higher profits than short-term traders. Training that will always keep you worried and stressed. In my opinion, about 50% of traders often lose money. The main reason is that market timing is very difficult. With a total of 21 million Bitcoins, investors see it as a rare asset that can be compared to gold. The price of Bitcoin often fluctuates, but if you invest in one, you need patience. In addition, if you hold Bitcoin for the long term, there is a much higher chance of getting a high price.

Try learn the market very well to avoid unnecessary losses, because if you don't learn very well from who ever you are learn the market from you may likely loss, another very important thing to do is to use a demo account to trade very well, don't ever rush into the market. Always Ensure that you have mastered the market by using a demo account to trade before entering the market with real money, also master your emotions, don't allow your emotions to control you, always Ensure that before you use real money to trade ensure you have mastered your emotions else you may not be a good trader. Also have a good trading strategy, have the right mindset of an investor.

Mastering the demo account won't save you from the market's restlessness as you still have the live market to battle with and to be frank with you, they aren't the same thing. Demo account will give you some insights but nothing beats the live market so also get some experience with that irrespective of your time with demo accounts. Alot of training advice would've have been  said since this thread is quite long so I won't have to be repeating what others have said but my advice is to stay hunger and don't feel satisfied with what you have learnt, keep learning and you'll make it.

If you hold for long term profit is guaranteed, the only thing that’s required for a holder is to secure their asset until their time for selling reaches, for trading even as much as it’s not profiting for those who have not mastered the market I will not still discourage anyone from venturing into it if they have pleasure of doing it all that’s just needed is for the person to take their time use small asset and learn how to trade they can’t be always profitable but with proper risk management they can’t also always be losing their is always risk in making wealth some believe they can’t get all they want by just holding allow them to chase that their trading it might help them win that wealth.

Best advice about crypto trading i got is "don't do it". Most of us suck at day trading, and it's an easy way to lose your money.
Why? Because crypto is easily manipulated and is prone to quick changes in trajectory based on global events. You'd need 3 heads to follow every news and still look at the charts for analysis

First off, do some tutorial videos. Read more on beginners guide on trading. There is nothing wrong to go explore amd try out crypto trading. But be ready to all the challenges and unexpected scenario since market are so unpredictable. Also, prepare yourself for some losses because not all trading entries were in your favor.



You can start with those user friendly platforms, Binance and Bybit for example.  About materials? Reading comprehension and mentor would be enough. Cause it is very significant that you know when is the right time to enter the market.

Best of luck!

As a beginner, what I would advise you is very simple DO NOT TRADE, Until of course you have gone through good quality training on trading and mastered it to some extent, then you can start integrating your skills gradually.

Trading is addictive, if you have a good job, I would likely advise you to focus on your work during work hours and trade outside work hours so that you can concentrate at least. The emotional attachment in trading can tend to affect your productivity at work, so if you must trae, then be it after work hours.

Do not borrow money to trade, I have seen someone who is a beginner and took a loan to trade, long and short of it all, after loosing the money, he was disgraced by the recovery team to the extent that his family members took pity on him and paid the debts.

Using the demo account to trade is even different from when a trader goes live. In live trading, one has to reason and make good decisions that will not affect them at the end of the day. In live trading, there is more awareness that trading is about loss and gain, and you have to be wise to trade with an amount you can afford to lose. In live trading, one thinks about when to stop trading, but in a demo account, in most cases, traders don't even think or make decisions about when to stop trading because real money is not being lost to the market. There is nothing like live trading because it gives a trader the real understanding one needs to succeed in trading.

To hold BTC , for the first time we have to know how to earn bitcoin. we have to know everything about  bitcoin. im here to know about the most demanding currency BITCOIN.  i know little bit about this. but want to know like expert and wanna invest in bitcoin . i need to know more about wallet, block chain, market policy and every things.

If as a beginner you really want to go into trading the there are so many things you should have in mind. First you have to understand that it's a very risky business. And you must take it very seriously. Don't expect to make much money from it in the next couple of years not dream too big of a life style because that's where you begin to get greedy and fail to apply a good risk management plan.
Also, get a good mentor and follow his steps. A mentor that has a prove of his stance in the market and not someone who just understands the basic and creates money for him self through teaching others what he barely understands.. lastly, continue learning. Trading is a marathon not a sprint. You have to be on a move, don't get too relax with one process..

You must have a good mindset before starting to trade then let see what about the mindset https://bitcointalk.org/index.php?topic=5546809.msg65486074#msg65486074

Even though you're right, I believe everyone should explore every aspect of the crypto space, and if someone is into investing, they should try trading as well, and by trying I don't mean one should suddenly start making day trades being a investor and start spending money on it right away, but one should look into it, learn from the basics to advance, and then once they are ready, they should try to use their knowledge and make some trades. If they feel they are not able to do it or understand things very well, they can always stop before they lose much money. If it works out for them, they'll have two things to do now.

I tend to believe that it's a privilege if someone can afford to both trading and investing at the same time. In my case, I can't do both at once because my capital is not that large, so if I invest in Bitcoin only, I won't have much left to trade with, and if I keep money for trading, I won't have funds for investments, so, that's why, I believe it's a privilege to be able to do both at once.

You must not know how to earn Bitcoin before you hold because you can buy from the market with your discretionary income and hold safely in your wallet for the price to rise. Furthermore, you don't have to know everything about Bitcoin before you invest in it as a beginner, what you need is just the basic knowledge which includes how to buy, withdraw and how to safely store your Bitcoin. With this knowledge,  you are good to start accumulating Bitcoin.

We all know going Into trading is a very lucrative job to do and it requires a lot of attention [consistency]. Therfore,  so many factors are to be considered before going into it which includes;
1.know the market
2.make a good plan and stick to it
3.practice consistently
4. Choose the right trading partner for you
5. Know your limits
6.keep it slow and steady and
7. Don't get too emotional

Profit will be with time and you have to do investment of your time first. Cryptocurrency need your investment of time first and when you will invest more time then you will be richer person of your area because you will know all the aspects of market. Don't invest the money but seeing the people who are getting profit , they are getting profit because they gave time at best time and then they took small start. You have to take small start of you want to be rich quick, but I think that is not quick but also not slow rich . You should invest more money in cryptocurrency and you will be rich with time.Don't forget to seek thr teacher who will give the skill of trading and you will trade more and you will be big investor  and trader.

It is very wrong as newbie to have the mindset of starting your Bitcoin journey with trading when the time is not due for trading, my advise to you as newbie is, your focus should be base on sourcing for more knowledge on how to go about building up your Bitcoin and on how Bitcoin works, to avoid the occurrence of being scammed on what you don't have idea of, and also you should know that starting with trading with Bitcoin, you are going to lose allot of money in the trading process and that might make you as a newbie to be discouraged from going ahead with your Bitcoin because you have the mindset of making a quick profit at the beginning of your Bitcoin journey,

When you are patient enough to hold, then, it is profitable because when you do the calculation, people that have been able to hold for at least five years have made a turn of profit, and if they are not patient enough, then you will not be able to make that kind of profit, so it's either you hold or you trade. And short-term trading is not that bad, but we are supposed to know that it all has its own risks. so when you want to do any, you have to have the right information about When it comes to holding, it is less risky, and when there are enough resources, then they should just buy enough and hold, and when there is money, you don't need to do DCA. since the person will be buying once and for all, not in installments.

You are very right mate,holding is very important in trading,the fact that it is not risky alone should enable beginners to think of holding than to think of day trading it.
Every trader who has the mentality of holding has a way of getting it right from the beginning,and this is what guilds him through the trading journey.
Like you said,the onlything that is more important in holding is patience,while the reverse is the case in day trading,but I won't advice anybody or any beginner to start day trading when he or she has not really been grounded in the basic knowledge of trading.

You sound funny. The 3 heads needed got me giggling. To me if anyone must go into crypto trading they just have to be smart and dedicated to follow every single news to stay on top of their game. As for manipulation almost everything in the world today is manipulated. The only difference with that of the crypto space is that it's more pronounced due to it's high volatility.

If you are money hungry, looking for way to solve your money problem I don't think that trading is the solution, you've simply turned to a restless person, your minds are all on getting the cash, you will fail as a trader.

A good trader must have a life first, a business that brings in some money every time and they must be willing to use some part of the money to risk on trade, the difference is their mind will be at rest, easy to control and think straight.

Haven't you noticed that you make right decisions when money isn't your goal when trading? Don't get it confused, someone who is making money elsewhere and still trading is better in the head and mind than someone who have nothing and look up to trading as the solution.

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My best advice to any beginner is to be very vigilant, and also know that we have scammers here too.
They should bare in mind that the moment they start trading on an ignorant note without proper guidance, it will have a way of ruining their moral against future trades.

Taking risk is part of trading, but you have to be careful with the kind of risk you take to avoid health complications as a result of the expensive risk you took.
I know every risk taken is an experience gotten, but at thesame time, you have to be cautious and learn well before you start trading.

I strongly agree on you. Trading isn’t a reliable source if we see it as our main source of income, but if we are trading as part of our side hustle, that could possibly work that way. Trading is definitely risky, and the more we become greedy to make money, the more we can’t think of the right decision to make, and that will only increase the risk to lose in the long run.

So my advice is, know when to trade and when not to. Do not force yourself to trade just because you hear people getting rich from it, believe me you don’t get rich by trading alone, but if you do investments and trading, there’s always higher rate of getting rich in the future.

It is easy to get caught up in idea that trading is quick way to get rich but as you said it is really risky to rely on it for all your income. Using it as side hustle is much smarter and more realistic plan. You also made crucial point about greed. So if emotions take over can lead to bad decisions and bigger losses. And if anyone has knowledge that when to trade and when to stop so it is really good skill. And building long term wealth usually means having balanced strategy that combines trading with other more stable investments like stocks or real estate.

This is subjective and opinions differs. We have plenty of traders from different places, I'm not looking at traders from crypto perspective because most often this place is only profitable when Bitcoin is doing well and there is an altcoin season. The moment we pivot to bear season, it becomes impossible to make money as trader here but real traders don't rely on crypto alone, experienced ones go to other market to make a living and they depend on them for survival.

Trading is profitable and can be sustainable if that's what you do for a living. Most people that thinks trading isn't a way for living don't even give into trading fully, they just look at the market and scan one or two things and by the time they see nothing, they go their way to do other things. There are traders on YouTube that are 10 years of experience long in trading and they are making good amount of money from it, there are evidence to show from their taxes unlike some pretenders and liers.

You cannot compare trading to those stable sources of income or wealth. As you mentioned stocks or real estate. I identify trading as a productive element that is an ideal way to increase wealth at the same time as losing significant amounts of money which may not be the right thing to call a loss because you will be trading with the amount of money that you are willing to lose or you have accumulated as floating cash. Do not try to match the impact of this money with the needs of daily life and the environment.I am saying is that trading is a risky way whether you are new or superficially understand it or you are experienced. You should remember that being with volatile assets means you are in a risky situation.
The amount of risk can be more or less in a coins so you should develop yourself more skilfully by analyzing the market and keeping your portfolio fresh by accumulating small amounts.

Start with one of the most well-known centralized exchanges and deposit around 50 to 100 USDT. Make small trades. open and close positions, buy and sell. Play small with that money for 1 or 2 months to get familiar with the ecosystem. After that, ask yourself if you’re ready to trade with larger amounts. If your answer is yes, then go ahead and start.

What if the person can't afford to lose that amount. We have demo accounts which  happens to be preferred for playing and mastering trading skills. Learning the hard way will only lead to emotions trauma and regrets. Playing with demo accounts will from the start will train a newbie on the ethics governing trading generally.

According to my advice, trading is very risky, since you are new, you can join trading with a small amount of money. However, you have to trade with trusted coins, among which I want to choose Bitcoin as the best coin for you. If you trade Bitcoin, then there is definitely a possibility of profiting more than losing money, but you can think about holding Bitcoin.
Holding is safer than trading, if you hold Bitcoin for a long time, then your guarantee of getting benefits will definitely increase. But if you trade, then of course you have to trade at your own risk, but you can participate in trading or folding with as much money as you can lose.

It should depend on where the person is from, because for some regions, $50 is a lot of money, and I wouldn't recommend anyone wasting that much money only to try and learn trading because that's not the only way to do it. One should firstly focus on equipping themselves with enough knowledge about trading and the market as a whole, so that when they start doing everything practically, they don't face any sort of problems because they would already know everything and have only not done it practically yet.

Once a person is fully equipped with the necessary knowledge about trading and the market, even cryptocurrencies and their usage as well, then they should think of jumping into the market with a budget that they know they can easily afford to lose because it will be an experimental amount that they will use for practice. If someone can find a way to test their knowledge using a demo account, that's even better.

After practically testing the knowledge and skills they have acquired, they should evaluate the results and see if they are good enough or still need improvement. If it's the first one, they can continue with a bit bigger amount next time, or if it's the latter case, they should work on the mistakes they've made and retry.

5 minutes? Is that even possible? Strategies that are learned over a long period of time with practical trials and errors that you'll teach in barely 5 minutes. I think your methods are very quack even without looking at them since it comes off an unrealistic learning duration, so it lost it's credibility from your presentation. I bet many members here knows more than just waste their time on your link.

Trading has more risks and can bring more Return on Investment quickly than investment. What I will encourage and advise every beginner is to pay attention and pay to learn how trading works professionally. Trading requires a lot of education and expertise and not anything on the surface. You need an in depth knowledge to be able to learn how to trade with profits and minimize lost. My advise will continue to be  learning, learning, learning.

Having an understanding of scammers not far away from you is a lesson that beginners need not take for granted because many beginners have been victims of scammers due to their lack of understanding.

Beginners need to learn first because many become victims to scammers since they don't have an understanding of what they are supposed to know, and scammers usually take their lack of understanding as an advantage. Learning is very important, and with this, it will be difficult for scammers to mislead or deceive someone.

You should keep buying as you learn because when we start reading textbooks it only gives us insight and makes us wise but to be a successful trader you have to observe the market and make decisions by researching the coins because to understand the situation in the market you need to know about the structure of the coins, investment type and duration are all important things. If you do not have practical experience there will be no benefit in gaining knowledge by reading books.

As you said that trading requires a lot of education and skills, I also agree with you that those traders should keep accumulating regularly to gain skills because if you do not have a stack of coins then there will be no material to gain skills in trading so keep a decent holding to become experienced so that you can maintain long term investment and short term trading in the separate row. You should remember that long term investment is better than short term trading.

I won't advise anyone to stay too long on demo. At maximum on demo shouldn't exceed three months. It's my specification and my reason is that once one is comfortable on demo, going live and testing the real murky waters with open risk becomes too scary a thing to do. The type of feel demo gives isn't the same with live account. I tell you this for free. Another thing to know is that no matter how long you stay on demo, you're still going to blow your first truly funded live account. I don't know why it's that way. No matter how skillful and profitable one thinks one has become, that sad incident has to be there to usher one in. Some say it's the induction fee every trader pays 😂.

Ah, demo accounts are so good to get the basics down, but they don’t prepare you when it is your own money that is at stake and the emotions that follow. That is why I also consider that it is not a good idea to remain too much on demo because you become comfortable with imaginary risk.

Movement to a small live account after two months is the best prescription. It teaches you to deal with pressure, fear, and greed even though you lose; however, it is a small amount. And you know all, almost a rite of passage to blow the first account, but as long as you have good risk management it does not have to kill you it comes as part of the learning experience.

Locking as OP has been long gone. Feel free to create a new topic if you have questions (and be sure to read the stickies).