Start Trading for Beginners

[harapan]

 This is where most traders fail, they start trading without a strategy that have been tested and verified. If you try trading without a strategy, you will learn the hard way.

Exactly going through the thread I was like this should be a hint up on how a beginner tend to start trading and hence  they require the basics which include introducing strategy that works, that's to say you need to stick to something you can call port folios and watch the outcome.it involves taking calculated risks and thus patience is required.

[Alpen]

If you want to actually make money with Forex, just focus on trading volatility.

When it comes to crypto, a smart and reasonable approach is to use dollar-cost averaging (DCA).

[TypoTonic]

All aspects of crypto involves having a good amount of knowledge bit as a beginner it would be more easier to focus more on hodling than trading. Crypto trading is very complex -snip-

I agree that beginners should stay away from trading unless they are fully prepared and understand the risks. It is way better to just hold if you want less risk in my opinion. Trading is basically just making an educated guess. Some even say that it is technically gambling. Sure, you can improve your chances as you recognize patterns from previous market data and learn economic trends, but in the end, no one can ever really accurately predict how the market will go 100% of the time. It's not something that can just be picked up by a beginner without proper guidance. Even experienced traders suffer losses as well.

[bitgolden]

If people could just spend some time being calm and not quick to just trade right way on the first day, they would be so much richer. They just don't understand that it requires time to learn the details of trading, so they end up with wrong moves and for some reason they think it will work. When in reality we all know that it is not going to work and they will lose money.

Because of this, I think it's clear that we are going to end up with a lot worse results, and for this reason alone we should be careful with it. I get that it is not that simple, but it's still what we have to do. I know waiting and studying and all of that is not really that hard, but we have to look into this as something that would be not that easy at all.

[Wakate]

All aspects of crypto involves having a good amount of knowledge bit as a beginner it would be more easier to focus more on hodling than trading. Crypto trading is very complex -snip-

I agree that beginners should stay away from trading unless they are fully prepared and understand the risks. It is way better to just hold if you want less risk in my opinion. Trading is basically just making an educated guess. Some even say that it is technically gambling. Sure, you can improve your chances as you recognize patterns from previous market data and learn economic trends, but in the end, no one can ever really accurately predict how the market will go 100% of the time. It's not something that can just be picked up by a beginner without proper guidance. Even experienced traders suffer losses as well.

In respective of the way we see trading whether as gambling or trying luck, we should understand that skill is involved for anyone to keep making money from the crypto market. Trading is very complex even when we understand the market and how to read charts.

As trader, you should be ready to keep studying just like a student that is in college learning to know and pass exam. The exam aspect in the profitablity area of trading. Since there are thousands of traders in the market, reading charts, studying the market just to make profits, we should be ready to keep studying to keep getting it right profitably.

[Y3shot]

Starting with demo account is not bad though but it won’t help one when it comes to psychological Growth . Because in a demo account there are usually huge balance of money and same time you are not trading with your real money (not making use of live accounts ).

So most time if such person start live trading he or she may not be able to handle the emotional challenges in trading either they will endup being greedy and stuff , and develop the habit of chasing losses whenever they experience one .

That is true, there is more to learning in live trading. It is not just about trading with money, but with the real money involved in trading, there is greed, emotion, and pain to learn from. If one is only concentrating on learning with a demo account, by the time you get into real trading, there will be problems because it will be difficult for you to manage all these emotions and habits involved in trading.

No doubt a demo account is good for beginners, but it is also important to try real trading to experience what trading is all about, as experiences in live trading are different from those in demo trading.

[I_Anime]

Starting with demo account is not bad though but it won’t help one when it comes to psychological Growth . Because in a demo account there are usually huge balance of money and same time you are not trading with your real money (not making use of live accounts ).

So most time if such person start live trading he or she may not be able to handle the emotional challenges in trading either they will endup being greedy and stuff , and develop the habit of chasing losses whenever they experience one .

That is true, there is more to learning in live trading. It is not just about trading with money, but with the real money involved in trading, there is greed, emotion, and pain to learn from. If one is only concentrating on learning with a demo account, by the time you get into real trading, there will be problems because it will be difficult for you to manage all these emotions and habits involved in trading.

No doubt a demo account is good for beginners, but it is also important to try real trading to experience what trading is all about, as experiences in live trading are different from those in demo trading.

Yeah when one is given real account a try he or she should reduce their expectations because trading isn’t gambling. Is like a form of business that requires time , and good psychology too (having good skill too ) . The truth is that trading is not all about the skill but your mindset . That’s why trading will teach you a lot of important that things like being patient , discipline, self control and some other important stuff , trading is a easy thing to me but to me the complex part about trading is mastering the right psychology.

[TypoTonic]

In respective of the way we see trading whether as gambling or trying luck, we should understand that skill is involved for anyone to keep making money from the crypto market. Trading is very complex even when we understand the market and how to read charts.

As trader, you should be ready to keep studying just like a student that is in college learning to know and pass exam. The exam aspect in the profitablity area of trading. Since there are thousands of traders in the market, reading charts, studying the market just to make profits, we should be ready to keep studying to keep getting it right profitably.

This is true. I do know some people who make money consistently from crypto trading. With that said, is it better for a complete and total beginner who wants to try trading, but doesn't have the skills, to do copy trading instead? This way even if they don't have the knowledge, they can just copy what experienced traders do. Thoughts?

[masulum]

This is true. I do know some people who make money consistently from crypto trading. With that said, is it better for a complete and total beginner who wants to try trading, but doesn't have the skills, to do copy trading instead? This way even if they don't have the knowledge, they can just copy what experienced traders do. Thoughts?

Copy trading on exchanges can be an alternative for a trader. However, a trader must remember that a fee will be charged on the profits he earns, which will be shared with the creator. Even if a trader sees PNLs 1000% from the creators, it's no guarantee that he will make a profit. A trader should learn how to make his own trading decisions, not by following others. This way, he'll have a sense of responsibility for any losses. If a trader use a copy trading features, he might blame the creator for the loss, which isn't the act of a responsible trader but rather of someone who blames others when he loses.

[alastantiger]

As trader, you should be ready to keep studying just like a student that is in college learning to know and pass exam. The exam aspect in the profitablity area of trading. Since there are thousands of traders in the market, reading charts, studying the market just to make profits, we should be ready to keep studying to keep getting it right profitably.

Traders learn everyday hence they have to be constantly studying like they're students because that's what they're. The market is their teacher and the market is always teaching them new things because it's difficult to understand the market completely. Traders that have been trading for 10 years still have things they learn when they open a new trade. With the experience, they make more profits and that's why you have to be very well experienced in trading before you can start making continuous profits. Beginners need to understand that trading isn't a joke that they'll be gambling and thinking that they're trading. It isn't only about studying the market but beginners need to take home lessons from everything they're doing.

[Baki202]

I wouldn’t recommend trading to anyone unless they have dedicated a lot of time to learning technical analysis and other skills needed for successful trading. It’s important to remember that trading is a very difficult and stressful job. I’ve read analyses showing that only about 10% of traders are profitable in the long run.
When it comes to Bitcoin a it’s much smarter to focus on your main job that generates income and gradually accumulate as many Bitcoin sats  as you can

And anyone that as the interest of trading should  and if they actually put learning first then they should not have a problem with introducing them. And one of the most important things is that they should seek the knowledge first then that way they will be able to understand the technical analysis because one of the key things that help support them is the technical analysis.

Building a good skill in technical analysis is actually one of the best thing that can make them avoid losing a lot of money and understand the chart does not mean that you won't even lose money it can easily be controlled because of the knowledge that is available because the most important thing is for them to know what they are doing. And with knowledge they will be able to avoid a lot of things like revenge trading and many more. And with knowledge leveraging becomes much more easier so that you will know the settings to put in place. So as not to lose everything.

[Mame89]

As trader, you should be ready to keep studying just like a student that is in college learning to know and pass exam. The exam aspect in the profitablity area of trading. Since there are thousands of traders in the market, reading charts, studying the market just to make profits, we should be ready to keep studying to keep getting it right profitably.

Traders learn everyday hence they have to be constantly studying like they're students because that's what they're. The market is their teacher and the market is always teaching them new things because it's difficult to understand the market completely. Traders that have been trading for 10 years still have things they learn when they open a new trade. With the experience, they make more profits and that's why you have to be very well experienced in trading before you can start making continuous profits. Beginners need to understand that trading isn't a joke that they'll be gambling and thinking that they're trading. It isn't only about studying the market but beginners need to take home lessons from everything they're doing.

Absolutely true. Learning is crucial in trading especially since trading is a complex activity so learning is never ending. Every trade is a new learning experience. So, don't think you're already very good at trading. No matter how long you've been trading, you still need to learn. As you said, the market and mistakes are the best teachers in trading.

I also agree with you that trading is no joke. All unsuccessful traders have one thing in common they treat trading like a joke and rely on luck. Therefore to be successful in trading traders must take trading seriously, be learners, have a system, manage risk, and control their emotions.

[Adams0001]

All aspects of crypto involves having a good amount of knowledge bit as a beginner it would be more easier to focus more on hodling than trading. Crypto trading is very complex -snip-

I agree that beginners should stay away from trading unless they are fully prepared and understand the risks. It is way better to just hold if you want less risk in my opinion. Trading is basically just making an educated guess. Some even say that it is technically gambling. Sure, you can improve your chances as you recognize patterns from previous market data and learn economic trends, but in the end, no one can ever really accurately predict how the market will go 100% of the time. It's not something that can just be picked up by a beginner without proper guidance. Even experienced traders suffer losses as well.

Every traders started from beginner before they become perfect and start getting profits. In my opinion newbie should just try to learn more about trading and get some research about it so that they won't mistakes when starting the trading journey. I can't says beginner should go away from trading because that is how everyone start because if they didn't take the risk now when will they take it. Because the more you lose on trading that is how you will be getting more experience about it and build your self  better and probably become perfect.

Just try to get mentor to guide you better on how you can trade better. But just know that no one can predict the market always, is unpredictable and you should get source of income and ready to take risk because trading is all about risk. Anyone that succeed in trading just know that he as face some challenges of losing, before he achieve is goal. so if you are not type of person that can take risk you can probably move to investment in Bitcoin that one can minimise your risk then trading.

[Wakate]

In respective of the way we see trading whether as gambling or trying luck, we should understand that skill is involved for anyone to keep making money from the crypto market. Trading is very complex even when we understand the market and how to read charts.

As trader, you should be ready to keep studying just like a student that is in college learning to know and pass exam. The exam aspect in the profitablity area of trading. Since there are thousands of traders in the market, reading charts, studying the market just to make profits, we should be ready to keep studying to keep getting it right profitably.

This is true. I do know some people who make money consistently from crypto trading. With that said, is it better for a complete and total beginner who wants to try trading, but doesn't have the skills, to do copy trading instead? This way even if they don't have the knowledge, they can just copy what experienced traders do. Thoughts?

Copy trading is another way to make money from the crypto market without having any skill at all. This is done by copying those good traders that have mastered the act of trading. Where there can be a problem is when you copy traders that don't trade with risk management and only gamble in the make to make fast profits from the market.
Copy trading can be profitable when you copy someone that uses risk management to trade but just following them blindly without full understanding about  how they trade whether they use risk management or not.

[HistoLock]

You did not add the aspect of how to actually trade and everything you explained are basic things everyone will do to be able to trade. The most important thing being to choose a trading strategy which they must test in demo and confirm the performance before they can implement in a real account.  This is where most traders fail, they start trading without a strategy that have been tested and verified. If you try trading without a strategy, you will learn the hard way.

Yes you are right, what everyone needs to learn to trade is the rules of training, fundamental analysis and experience. Without these, trading is almost impossible. But if you are new, you can gain some skills and knowledge by using a demo account. The main reason why beginners fail is that they do not test their skills with a demo account and start trading in the real market. I would say that until you learn proper trading, you can test how much skill you have gained with a demo account. Yes, you will fail only when you trade without a strategy, so I would say that you should gain the skills of trading and profit by trading.

[bangjoe]

You did not add the aspect of how to actually trade and everything you explained are basic things everyone will do to be able to trade. The most important thing being to choose a trading strategy which they must test in demo and confirm the performance before they can implement in a real account.  This is where most traders fail, they start trading without a strategy that have been tested and verified. If you try trading without a strategy, you will learn the hard way.

Yes you are right, what everyone needs to learn to trade is the rules of training, fundamental analysis and experience. Without these, trading is almost impossible. But if you are new, you can gain some skills and knowledge by using a demo account. The main reason why beginners fail is that they do not test their skills with a demo account and start trading in the real market. I would say that until you learn proper trading, you can test how much skill you have gained with a demo account. Yes, you will fail only when you trade without a strategy, so I would say that you should gain the skills of trading and profit by trading.

Trading using a demo account is highly recommended for beginners to understand the basics of trading or as a field of practice for implementing the theories and strategies you have created for your trading plan.

However, I myself did not use a demo account when I first started trading. To be honest, I experienced what you described and jumped right in without any specific training or testing, which meant it took me a long time to start making a profit from trading. I admit that was a mistake because I was careless, and it cost me a lot to pay for that carelessness.

However, what is certain is that everyone must go through their own phase to find their path. Sometimes other people's strategies do not suit our own trading strategies. I once tried using someone else's strategy, and it proved successful for them, but when I applied it, it did not suit me in terms of emotional management and trading targets.
In this case, it is better to use a small amount of money to test your trading strategy so that you do not incur significant losses if you do not want to use a demo account.

The key is to keep moving forward consistently in your learning journey. Never be arrogant in your learning process. Results will come to those who are consistent, even if it takes 5 to 10 years and requires many sacrifices to understand the right trading approach for yourself.

Still believe that effort must have results.

[Pandu Geddon]

The key is to keep moving forward consistently in your learning journey. Never be arrogant in your learning process. Results will come to those who are consistent, even if it takes 5 to 10 years and requires many sacrifices to understand the right trading approach for yourself.

When someone is interested in and likes trading, they will definitely learn and understand the risks. So, the issue of time that makes new traders start to succeed and find the right strategies will not be a problem. But for those who are actually interested in trading because of invitations or curiosity about seeing people who succeed in making large profits from trading, a long time learning and gathering experience will make them bored. I even believe that a large portion of beginners in trading today will not last in their first year.

[cxtreenal]

If you want to actually make money with Forex, just focus on trading volatility.

When it comes to crypto, a smart and reasonable approach is to use dollar-cost averaging (DCA).

DCA method does not work properly for any crypto other than Bitcoin. Most coins are volatile in terms of price, but they are much more bearish in terms of growth, so most coins are more suitable for short term trading. Accumulating Bitcoin for long term investment is the easiest and most suitable for an investor. The argument for this is that although the price of Bitcoin is always volatile, its upward trend encourages you to apply the DCA strategy more. If you really want to trading then first learn to gain experience yourself. Short term trading will put you at financial risk.

It seems that you are aware of the DCA strategy, so accumulation Bitcoin from discretionary income and build a stack as you gain experience so that it will be easier for you to trade short term in the future.

[Zanab247]

There are many people who made money from trading and there are a lot who lost money too by being greedy or lack of knowledge
Hope this thread helps someone
Cheers from MarangoZ

The new traders are the ones that lost money most in trading compare to old traders that experienced some challenges to become professional traders that know when to make money from trading. Once you get the knowledge of trading from those that understood trading, it make you to flow in the right direction that will make your target to come to reality in trading, because you will not be greedy when it is time for you to make money from market.

Don't blame some traders that have the spirit of greedy towards trading, because they believe there will be another price that will be favourable than the current price that will make them to regret for not trade on time because there is a greedy attitude in such traders.