Trading for the Inexperienced Traders

[yesyes18]

When I started trading, I had no idea on charts and market sentiments but I decided to also benefit from the Pro traders as they move the market.

First of all, note that the market has mainly three sides, bull/green (short or long term), sideways, and bear/red (short or long term).

If you're an inexperienced trader like me, don't look at the sideways and red markets. Always wait for a green market (and it happens at least once every month). During that time, set a little target (say 10%-20%) you can even make more if you follow a good coin. Enter the market and take your profits.

Wait for the next round (probably a month a later)- you can keep your money in a stable coin, and by the end of a year you could make (10-20%)x 12 on your money.

Don't try trading everyday if you're not a PRO, they'll squeeze your money from your hands lol...and also never try catching tops and bottoms of you're not a PRO, they'll squeeze it once again. (remember you may be dealing with bots).

Merry Christmas (if you celebrate) and a Happy New Year to y'all.


Edited: This isn't to say that don't study the market. In fact you'll need to build your knowledge to survive in crypto, especially in these times, but this is a message to newbies who're trying out the market (fact is that, you can study the market as long as you want but if you joke all your money will be drained). Have you ever asked yourself why people in paid groups make the most money from trading, you just can't learn TA and FA lol.... There are PROs and they're moving the market so my trick is to help you also benefit as they move the markets. So that you don't try competing with them coz they can make you REKT, trust me.

[1714510888]

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[1714510888]

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[sclmte]

maybe at the beginning it's hard to do the very first thing about a trading way or else we're going to lose everything, but that's about to start that the second time and so on will be ok ... as I'm and until now, I'm still not knowing how to do a trading procedure, well when I stay as a member of the crypto world, I will try and will also come up with the time I go for the trading platform and I will definitely try it soon.

[yesyes18]

maybe at the beginning it's hard to do the very first thing about a trading way or else we're going to lose everything, but that's about to start that the second time and so on will be ok ... as I'm and until now, I'm still not knowing how to do a trading procedure, well when I stay as a member of the crypto world, I will try and will also come up with the time I go for the trading platform and I will definitely try it soon.

Yeah you're right. You should.make sure to learn something first about trading before you decide to enter the businesses. Don't join any crypto activity blindly and never invest what you cannot aford to lose. Doing your own research is the best option you can go in for. Let's keep crypto alive buddy. Good luck!!

[audaciousbeing]

You have made some decent and find a nice way to hedge your risk which is the best decision any trader launching out should do as its that way frustration would set in. But the real question in the mind of newbie traders is how do they know the right coin to follow and implement this idea you have suggested because without that, it won't matter as whether you make your decision once in a month or ten times, it would still end up being a bad decision which I believe everyone is always trying to avoid.

[danherbias07]

That is why it takes patience to make it possible for profit.

Learned from my mistakes before.
Trading without patience is like just betting for the losing team always. You need to at least wait for a day or two or maybe 12 hours for a larger scale of price change.

Trading on rush will just eat up paying for transaction fees.

[StarofBTC]

Trading is a really tough job if you want to be consistent with it. Markets always have a downturn in the end even if it goes green for a long time, that makes things really hard for many people involved. This is not just crypto problem though, it is a general problem for everything in trading, like stocks and forex and all that. In the end there is always a bad red market that takes away all your profits you previously made.

You need to be really wise and have the relevant information at hand all the time and follow the markets constantly in order to anticipate things other people didn't see coming. It requires a lot of time invested into research and a lot of time into keeping up with the news and even that's not enough sometimes.

You also need to have a lot of cash always ready to drop the averages constantly. It is really not for people who are inexperienced and its not even for experience but lazy people.

[farosa]

Merry Christmas mate  
As I understand that when we first start, we should stay out of margin trade and I also think that is true. Margin trading is not very much about feeding small fish. Just get it from cheap price and sell from price you can earn.

[reactorjuno]

When I started trading, I had no idea on charts and market sentiments but I decided to also benefit from the Pro traders as they move the market.

First of all, note that the market has mainly three sides, bull/green (short or long term), sideways, and bear/red (short or long term).

If you're an inexperienced trader like me, don't look at the sideways and red markets. Always wait for a green market (and it happens at least once every month). During that time, set a little target (say 10%-20%) you can even make more if you follow a good coin. Enter the market and take your profits.

Wait for the next round (probably a month a later)- you can keep your money in a stable coin, and by the end of a year you could make (10-20%)x 12 on your money.

Don't try trading everyday if you're not a PRO, they'll squeeze your money from your hands lol...and also never try catching tops and bottoms of you're not a PRO, they'll squeeze it once again. (remember you may be dealing with bots).

Merry Christmas (if you celebrate) and a Happy New Year to y'all.

This.

Great advice, agree big time. BUT you forgot one thing, a stop loss. If you aim at +20 profit, then set a stop loss at -15. And try to get 50% of successful trades.

So you will go this way:
+20
-15
+20
-15
etc.
You need to take off the commission. Perhaps you will need a little over 50% successful trades (52-55%) but try to stick to this rules at all times. The stop loss is very important, otherwise you will always lose more than what you win, and you will end up chasing your losses by investing bigger money.
Good thread by the way.

[yesyes18]

That is why it takes patience to make it possible for profit.

Learned from my mistakes before.
Trading without patience is like just betting for the losing team always. You need to at least wait for a day or two or maybe 12 hours for a larger scale of price change.

Trading on rush will just eat up paying for transaction fees.

That's true. I was used to trying to catch tops and bottoms especially when I see te green candles forming but i lost a lot of moneymoney to that. It'd like at that time when candles are forming, volatility is high and you can lose your money easily. Your only best bet is to have patience and move along with the market without being greedy

[Indrawan77]

First of all, start by learning the basic, learn tgr chart and all the basic indicators, follow some group signal will be very helpful, for the beginner you won't know which time will be a bull run, what will be the range for support and resistance, it need time to learn, and don't start with day trading, study slowly don't be rush to make profit, because it is not easy to make profit in trading

[dante1265]

It’s hard to stay patient though

[Reid]

I guess monitoring too much of your order will make you mad, or monitoring the price fluctuating.

I remember one trade of mine which I left for a week. Just input the price that I want which is double the amount of what is being traded.
Just let it rot there and Voila, when I get back everything is sold.

I know it aint a wise trade coz I just left it but there are times that it works too.

[adaseb]

Just don't go on an exchange like Bitmex and take trading advice from the trollbox. Many people there pretend to talk a big game but most of the time they are paper trading or trading around 100 contracts.

I feel bad for the people that go there and ask for trading advice and basically take high leverage trades based on what some stranger has said. Most of them end up getting rekt. Some people don't realize how fast you can get your entire account liquidated if you take a 100x position that ends up going the wrong way.

[reactorjuno]

To complete what was said earlier about the stop loss, I strongly recommend everyone to watch this video > https://www.youtube.com/watch?v=bRCtBRsLPmk&t=1s

It is common sense, but difficult to apply, but that is exactly the mentality of a winning trader. Watch the 16 minutes, you will not regret it.

[vv181]

It does not work that way, you just can't wait for the market on a bullish condition, and easily make a profit. Trading requires a large effort of analysis and research in any kind of market situation. OP arguments stated you just only need to wait for bullish market then you can profit which is a large flaw. My suggestion for inexperienced trades is to learn the fundamental of trading and technical analysis.

[omonuyak]

When I started trading, I had no idea on charts and market sentiments but I decided to also benefit from the Pro traders as they move the market.

First of all, note that the market has mainly three sides, bull/green (short or long term), sideways, and bear/red (short or long term).

If you're an inexperienced trader like me, don't look at the sideways and red markets. Always wait for a green market (and it happens at least once every month). During that time, set a little target (say 10%-20%) you can even make more if you follow a good coin. Enter the market and take your profits.

Wait for the next round (probably a month a later)- you can keep your money in a stable coin, and by the end of a year you could make (10-20%)x 12 on your money.

Don't try trading everyday if you're not a PRO, they'll squeeze your money from your hands lol...and also never try catching tops and bottoms of you're not a PRO, they'll squeeze it once again. (remember you may be dealing with bots).

Merry Christmas (if you celebrate) and a Happy New Year to y'all.

It is truth.  Trading every day without adequate knowledge on how trading work will make you to lose your hard earning to professionals traders.  Trading is actually a game and you should not play the game if you cannot follow the rules.  You must have knowledge on those things that move the market.

[kaisa]

The 10-20% target is already high, sir. In fact, it has been very difficult to achieve for now. If you target 10-20% annual profit is relatively small, I think beginners must learn to produce profits below 5% for daily trading. Then determine the strategy for revenue results that are stored based on fiat or bitcoin. It's important so it's easy to calculate daily profits.

[carlfebz2]

I guess monitoring too much of your order will make you mad, or monitoring the price fluctuating.

I remember one trade of mine which I left for a week. Just input the price that I want which is double the amount of what is being traded.
Just let it rot there and Voila, when I get back everything is sold.

I know it aint a wise trade coz I just left it but there are times that it works too.

For swing trades then Yes but if you do make active or scalping way type of trade then you would need to deal on watching your position actively.
Emotion is really a great factor which can really affect your trading style. Being inexperienced is normal since all of us would really start up to be a newbie but
we should not let ourselves to give up easily because mistakes can be faced would be the stepping stones for you to learn.

[creeps]

It does not work that way, you just can't wait for the market on a bullish condition, and easily make a profit. Trading requires a large effort of analysis and research in any kind of market situation. OP arguments stated you just only need to wait for bullish market then you can profit which is a large flaw. My suggestion for inexperienced trades is to learn the fundamental of trading and technical analysis.

Pro traders are still making profit even if its a bear market, they don’t need to wait for a bull run before they can trade. If you can’t do day trading then don’t do it, not unless if you study it. Knowledge is the best equipment, don’t forget to wear it. TA and FA is important, newbies should not take shorcuts and start from the scratch.

[gabbie2010]

This is a nice tipoff for newbies traders, once you can be able to decode how price moves bullish, bearish and sideways or ranging then with some little technical analysis you be able to buy when the market is green using an indicator like EMA can help you to take decision until you are fully knowledgeable in trading.