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Author Topic: Be a newbie trader. I avoided losing money. how?  (Read 2408 times)
LogitechMouse
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July 25, 2018, 02:58:20 PM
 #21

You are so lucky then because you avoided losing your money even you are a newbie because if I remember correctly, most newbies lose their money when they are starting in trading. Some of the newbies just throw their money in trading without proper training.

When I am starting in trading, I have the proper knowledge already. I know how to read candlesticks already and I know how to use indicators but I lost half of my trading funds. What is the reason? Emotion. I didn't know how to control my emotion and I the outcome - I lose my money because of FOMO and others. When you are new in trading, aside for knowing the technical things on trading, know how to control yourself first.

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July 25, 2018, 03:30:16 PM
 #22

I'm sure losses will always be in market position like this, because there will be no clear calculation for the future.
The excellent ingredients given to everyone, hopefully apply it after entering the trade with a fast heartbeat position, the simplest is to buy at a low price and resell at the highest price, most of the rules I'm sure it's not too 100% to get profit.

Honestly when you are just a newbie you didn't know what price is the lowest or if the price will be continue decrease or not but if you really want to learn in trading it will be hard at first but don't lose hope because you will understand trading if you really want to learn.
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July 25, 2018, 03:32:56 PM
 #23

When you are a newbie you can refer to something on tradingview.com
1.Technical:

RSI (Relative Strength Index) (14): RSI <30, oversold => should buy. RSI> 70 - overbought, you should not buy at this time.
Fibonacci: There are Support and Resist. When prices hit the S, P, R levels, the price will rebound, so You pay attention around S, P, R levels.
You should buy (support) and sell (resist) around these areas.

2.Chart:
The result is Bollinger Bands.
You can refer to the Bollinger Bands here: http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:bollinger_bands

These are just some of the simplest indicators for beginners to trade as they are to have safe levels, avoid losing money.
I am also a newbie sharing knowledge so expect people to help. Thank you for reading  Kiss Kiss

This is really a good information that I need. i am a newbie. Thank you for sharing
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July 25, 2018, 05:36:53 PM
 #24

When you are a newbie you can refer to something on tradingview.com
1.Technical:

RSI (Relative Strength Index) (14): RSI <30, oversold => should buy. RSI> 70 - overbought, you should not buy at this time.
Fibonacci: There are Support and Resist. When prices hit the S, P, R levels, the price will rebound, so You pay attention around S, P, R levels.
You should buy (support) and sell (resist) around these areas.

2.Chart:
The result is Bollinger Bands.
You can refer to the Bollinger Bands here: http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:bollinger_bands

These are just some of the simplest indicators for beginners to trade as they are to have safe levels, avoid losing money.
I am also a newbie sharing knowledge so expect people to help. Thank you for reading  Kiss Kiss

Some good info Anhchang.

Keep in mind that the RSI being oversold or overbought does not automatically the price is actually overbought or oversold. Lots of times the price will enter the overbought or oversold region and then continue to move in the same direction, e.g if enters the oversold region (below 30) it can keep falling for a long time, even though the RSI is showing it's oversold. So if you buy as soon as it goes below 30 there's a chance the price could continue to fall, meaning you might have to endure some drawn down before it goes back up again, well, if it goes back up again that is. There's no guarantee that it will eventually reverse even if it is oversold, so you could lose all you money if you're not careful, though that's unlikely.

Also, support and resistance levels show where the price COULD reverse, not where it WILL reverse. Simply buying at support and selling at resistance is not a good strategy, mainly because the levels get broken all the time, and there's no way to know which levels are likely to hold before the price gets there.

A better idea is to use the RSI with the support and resistance levels, to confirm whether or not a reversal away from the level is likely to take place.

If you see the price fall to a support level, and the RSI is below 30, that's a better sign the price will rise than simply seeing the price hit a support level on it's own or seeing the RSI drop below 30. It still doesn't mean the price will definitely reverse, but it does make it more likely. Also, seeing the RSI above 70 when the price reaches a resistance level is a stronger sign the price will fall than seeing either on their own.

Hope this helps Anhchange.
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July 25, 2018, 05:51:34 PM
 #25

I'm sure losses will always be in market position like this, because there will be no clear calculation for the future.
The excellent ingredients given to everyone, hopefully apply it after entering the trade with a fast heartbeat position, the simplest is to buy at a low price and resell at the highest price, most of the rules I'm sure it's not too 100% to get profit.

Honestly when you are just a newbie you didn't know what price is the lowest or if the price will be continue decrease or not but if you really want to learn in trading it will be hard at first but don't lose hope because you will understand trading if you really want to learn.
Even after we got experience in trading still it is impossible to predict the lower price and upper price of any coin.But as you said we need to keep on trying until as much as we can the only we can get the enough knowledge to get into success level.Honestly @OP those words you mentioned were still new for be because I am not doing trading as much.
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August 24, 2018, 02:39:37 AM
 #26

When put money in to trading firstly we should know the risk and we should have money management to reduce it. Technical analysis not work accurately in crypto trading and make sure we use stop loss whenever  buy any crypto. High fluctuacion of crypto make possible to earn profit more than 100% in amonth but also possible loss to 90%. So learn more how to minimize the risk from high volatility is the most important thing. We should be thinking the level high risk first and then make better trading plan to avoid it.

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August 24, 2018, 02:59:40 PM
 #27

This is really good and you are making good progress in your learning. Technical analysis is a must have for every crypto trader or investor. It would enable you know where prices are headed and for you to make good and better decisions. Good stuff
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August 25, 2018, 10:03:47 AM
 #28

When you are a newbie you can refer to something on tradingview.com
1.Technical:

RSI (Relative Strength Index) (14): RSI <30, oversold => should buy. RSI> 70 - overbought, you should not buy at this time.
Fibonacci: There are Support and Resist. When prices hit the S, P, R levels, the price will rebound, so You pay attention around S, P, R levels.
You should buy (support) and sell (resist) around these areas.

2.Chart:
The result is Bollinger Bands.
You can refer to the Bollinger Bands here: http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:bollinger_bands

These are just some of the simplest indicators for beginners to trade as they are to have safe levels, avoid losing money.
I am also a newbie sharing knowledge so expect people to help. Thank you for reading  Kiss Kiss

Some good info Anhchang.

Keep in mind that the RSI being oversold or overbought does not automatically the price is actually overbought or oversold. Lots of times the price will enter the overbought or oversold region and then continue to move in the same direction, e.g if enters the oversold region (below 30) it can keep falling for a long time, even though the RSI is showing it's oversold. So if you buy as soon as it goes below 30 there's a chance the price could continue to fall, meaning you might have to endure some drawn down before it goes back up again, well, if it goes back up again that is. There's no guarantee that it will eventually reverse even if it is oversold, so you could lose all you money if you're not careful, though that's unlikely.

Also, support and resistance levels show where the price COULD reverse, not where it WILL reverse. Simply buying at support and selling at resistance is not a good strategy, mainly because the levels get broken all the time, and there's no way to know which levels are likely to hold before the price gets there.

A better idea is to use the RSI with the support and resistance levels, to confirm whether or not a reversal away from the level is likely to take place.

If you see the price fall to a support level, and the RSI is below 30, that's a better sign the price will rise than simply seeing the price hit a support level on it's own or seeing the RSI drop below 30. It still doesn't mean the price will definitely reverse, but it does make it more likely. Also, seeing the RSI above 70 when the price reaches a resistance level is a stronger sign the price will fall than seeing either on their own.

Hope this helps Anhchange.

This make sense and a good advise

making the proper usage of an RSI not only for an overbought and oversold but the term R and S levels

through that you could possible look at breakup or breakdown levels and a proper entry point and exit point

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August 25, 2018, 10:17:11 AM
 #29

This is really good and you are making good progress in your learning. Technical analysis is a must have for every crypto trader or investor. It would enable you know where prices are headed and for you to make good and better decisions. Good stuff
Technical analysis really works especially when you are using it correctly, but sometimes TA doesn't go on what you have set because cryptomarket are being move by news easily and people react on that. You must consider everything in trading, not just TA but also outside that indicators. Losing money can be avoided but of course its still not guaranteed, just keep on doing the right things in trading even you have loses because profit will come to you in time.
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August 25, 2018, 10:19:45 AM
 #30

When you are a newbie you can refer to something on tradingview.com
1.Technical:

RSI (Relative Strength Index) (14): RSI <30, oversold => should buy. RSI> 70 - overbought, you should not buy at this time.
Fibonacci: There are Support and Resist. When prices hit the S, P, R levels, the price will rebound, so You pay attention around S, P, R levels.
You should buy (support) and sell (resist) around these areas.

2.Chart:
The result is Bollinger Bands.
You can refer to the Bollinger Bands here: http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:bollinger_bands

These are just some of the simplest indicators for beginners to trade as they are to have safe levels, avoid losing money.
I am also a newbie sharing knowledge so expect people to help. Thank you for reading  Kiss Kiss
Unfortunately, the loss of money is inevitable. This is a natural learning process. The market takes a tuition fee for tuition, and this is not a controversial fact. Anyone who tells you otherwise will deceive you. Use the small amounts of money in training, this is the only correct advice. The rest will come with experience after a while.
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August 25, 2018, 11:37:14 AM
 #31

When you are a newbie you can refer to something on tradingview.com
1.Technical:

RSI (Relative Strength Index) (14): RSI <30, oversold => should buy. RSI> 70 - overbought, you should not buy at this time.
Fibonacci: There are Support and Resist. When prices hit the S, P, R levels, the price will rebound, so You pay attention around S, P, R levels.
You should buy (support) and sell (resist) around these areas.

2.Chart:
The result is Bollinger Bands.
You can refer to the Bollinger Bands here: http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:bollinger_bands

These are just some of the simplest indicators for beginners to trade as they are to have safe levels, avoid losing money.
I am also a newbie sharing knowledge so expect people to help. Thank you for reading  Kiss Kiss

The market is based on supply and demand so obviously you should keep on holding when the market prices are dropping and just sell your coins when the market start's to pump up.
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August 25, 2018, 12:23:58 PM
 #32

You have to be attentive even if you are using a simplest I indicators like RSI. When Whales got to manipulate the market, even the indicators you've mentioned are useless. Anyhow, being attentive when having an entry in trading will further help you more to cut loss if ever or to exit immediately when you already profited.

Somehow experience will still be the best teacher despite of these learnings that we have. This is a whole package that we must possess or else this be just nonsense. Whales are whales and if they start to move no matter how good are you, it will just leave you hang in the wind.

So if you doesn't have balls for risk then forget trading.

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August 25, 2018, 01:54:32 PM
 #33

You have to be attentive even if you are using a simplest I indicators like RSI. When Whales got to manipulate the market, even the indicators you've mentioned are useless. Anyhow, being attentive when having an entry in trading will further help you more to cut loss if ever or to exit immediately when you already profited.

Somehow experience will still be the best teacher despite of these learnings that we have. This is a whole package that we must possess or else this be just nonsense. Whales are whales and if they start to move no matter how good are you, it will just leave you hang in the wind.

So if you doesn't have balls for risk then forget trading.

There is a thing called "Risk Management"

Experienced traders always have it

either by a cut loss or a wise entry points

with this it minimized risk and will make your balls bigger

 Wink
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August 25, 2018, 03:12:44 PM
 #34

When you are a newbie you can refer to something on tradingview.com
1.Technical:

RSI (Relative Strength Index) (14): RSI <30, oversold => should buy. RSI> 70 - overbought, you should not buy at this time.
Fibonacci: There are Support and Resist. When prices hit the S, P, R levels, the price will rebound, so You pay attention around S, P, R levels.
You should buy (support) and sell (resist) around these areas.

2.Chart:
The result is Bollinger Bands.
You can refer to the Bollinger Bands here: http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:bollinger_bands

These are just some of the simplest indicators for beginners to trade as they are to have safe levels, avoid losing money.
I am also a newbie sharing knowledge so expect people to help. Thank you for reading  Kiss Kiss

this is the basic knowledge about the Bolinger bands and RSI, lots of traders never about this matter, and it not that easy to understand it also

actually, but you as newbie, good to know that you get the point of this things on trading. It is actually seldom to see a people like who can

quickly get the catch of trading, keep it up dude.
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August 25, 2018, 03:15:12 PM
 #35

Additional for OPs advise: Focus on how you can earn money!!! By doing that you will avoid losing money passively. If you focus yourself on avoiding losses you'll never earn. Try to read a lot about trading, risk management, indicators, oscillators. Watch live trading guide or market review on youtube I suggest tosubscribe on philakone his videos will help you a lot(Well not all his videos, some of them are funny Grin).

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September 13, 2018, 05:58:07 PM
 #36

You know why you avoided the loss as a Newbie trader because you study and know all this stuff and hence you are not a newbie in the world of trading.
I know many people who are trading for quite some time but does not know this technical stuff. I think if you really want to earn good and want more earnings then losses, then i think Study and knowledge is the most important factor, but i think this is not followed by most of the traders out there.

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September 13, 2018, 06:16:42 PM
 #37

This method might have been worked for you but I dont really believe in the technical analysis! The crypto is already making its way with the fundamentals and nothing else. The fundamentals are crypto movements based on the worlds news, there different updates and much more to count on and thats why I think it depends more over it rather than the technical analysis. Lets agree on one thing that technical analysis itself changes according to the fundamental. I dont even understand what the Bollinger is but I do make the perfect trades all the time.

 
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wayancrypto
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September 14, 2018, 08:40:23 AM
 #38

All prediction of price action by use technical analysis is never always accurate, so we should be have risk management if the prediction wrong and the price going down. To avoid loss from wrong analysis is always use stop loss, because once we not use it and incase the price crash we will difficult to recover that loss and also should be waiting long to recover it.

Cryptovn88
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September 14, 2018, 09:04:50 AM
 #39

I'm trading some coins on Binance, Kucoin and IDEX, HOTBIT, and I realized that trade on big exchanges are not a good choice, I get more profit when trading on some small or medium exchanges, and they key is choose the coins that have fluctuation up - down large and happens on a regular basis.
Just from my personal experience, want to know more from other guys

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September 14, 2018, 10:01:14 AM
 #40

I follow the market or short wave 30M candle based on MACD and BB only
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