Some essential trading rules beginners!

[danherbias07]

1. Yes, it's theoretically possible that you can make huge money in a very short period of time but there's very high chance you would end up loosing all your money so never think of making easy and quick money!

Good thing you put this at number 1.

One thing I have seen that most of the newbies mistaken is that there is always profit in trading.
That aint true.
Higher chance of losing everything than making money if you have the wrong idea of it.
Greed and fear will come up and next thing you knew there is nothing left.

Well, I do think it will be helpful to those first visitors here or maybe just searching in google.

[1715050934]

1715050934

[clickerz]

1. Yes, it's theoretically possible that you can make huge money in a very short period of time but there's very high chance you would end up loosing all your money so never think of making easy and quick money!

Good thing you put this at number 1.

One thing I have seen that most of the newbies mistaken is that there is always profit in trading.
That aint true.
Higher chance of losing everything than making money if you have the wrong idea of it.
Greed and fear will come up and next thing you knew there is nothing left.

Well, I do think it will be helpful to those first visitors here or maybe just searching in google.

Always remember that someones profit is another persons losses. There is no such thing that everybody a winner in trading.You must equip and armed with knowledge,strategy in executing your trade.Be not afraid to cut loss whenever the market results do not coincide with your analysis. The main goal in trading is to maximized profit and minimize losses.

[glendall]

from the nine points you mentioned I took three points which I think are mandatory for beginners, those three points are numbers 5, 8 and 9,
number 5 is the thing to watch out for, number 8 is the basis, and number 9 must be done if number 8 and number 5 are understood,
besides those three numbers are additions,
this is just my opinion in order to make it easier for beginners to start what should be done first.

[Obito]

1. Yes, it's theoretically possible that you can make huge money in a very short period of time but there's very high chance you would end up loosing all your money so never think of making easy and quick money!
2. There is a big difference between Demo and Real trading although somehow everything looks almost the same. So if you are doing good in demo it does not mean you will succeed in real trading as well!
3. Never ever trade just by reading social media opinions! If you want to be a successful put work into it, study a lot. Understand the market itself, terminology, market participants, etc!
4. Once you have a comprehension what crypto/forex/stock market is now study trading strategies! They can be different and every trader has their own ways of trading.
5. Never trade when you are emotional (it does not matter happy, sad)! Be always calm and just have a rest from trading when you are not!
6. Never trade just because you have not traded today unless you are sure! There are days when is better not to make any deal and it's absolutely normal.
7. Always invest the money that you can afford to lose!
8. Always have risk management and money management! (Unfortunately half of the trader even don't know what these two are)
9. Start from learning by little instead of putting pressure on yourself and making the process stressful!

Yes they may all imply. Better yet start trading now or die tryin', get rich already let experienced taught you all the way long. But before all of this made out some little plan just a bit, like setting a budget plan, and after that stick with and do the thing above.

While, trading or in the progress of trading monitor your short comings as a new trader, think of something different, think of your flaws as a trader and do compare all of it among the ideas of experienced trader by searching tips and whatsoever. Surely, you will improve a lot.

[zeze18]

indeed the rules you mentioned are some that should be important points of traders because they are new and do not have trading experience so they do not know the position of buying the right coin and selling coins at the right price, and usually beginner traders are also still easy to panic.

Not only beginners, even the experienced trader often to panic when something wrong happened in the market.
Crypto market is so different with stocks, everything can be loss in one night or price dropped more than 20%
So it's really hard i think for not panic because sometimes a bad news can effect the entire market

[michellee]

That list will be a good guide for new people who want to start trading. They need to know about that so they can prevent the losses, although the losses can come to them at any time. At least, new people will have some guide on how to control themselves in trading and what should they do and don't related to trading. But the important thing here is how much they can use their money in trading and only use the money you can afford to lose. Don't go all-in if the market is not good for trade.

[jazmuzika217]

I agree to your thoughts. But I think there is only two important things things that we need to always to apply in trading as a beginner or even a professional. First we need to always knowledgable and have a continues learning to become motivated. And last one is avoid too much greed because it will drives you going to loss.

[supercanada1]

indeed the rules you mentioned are some that should be important points of traders because they are new and do not have trading experience so they do not know the position of buying the right coin and selling coins at the right price, and usually beginner traders are also still easy to panic.

Not only beginners, even the experienced trader often to panic when something wrong happened in the market.
Crypto market is so different with stocks, everything can be loss in one night or price dropped more than 20%
So it's really hard i think for not panic because sometimes a bad news can effect the entire market

Anyone who lacks understanding of his asset will do blunders regardless of his experience. There is always dear of losing when a person does not understands the potential of his asset. That fear is the major cause of such mistakes like panic selling. Even bitcoin investors fail to become rich because they never ever understood their coin but only focused on making money and did what news said.

[Ucy]

You made good points. 
 Number one is a good advice especially for the newbies. They need focus on making little profits until they become experienced enough to try the big profits. 

Number three is another good point. Not advisable to trade coins based on advice or recommendations from any kind of trader. You could however follow the advice of traders with good trading records.

Finally, "invest what you can afford to lose"... this's the most important of them all.

[Lanatsa]

indeed the rules you mentioned are some that should be important points of traders because they are new and do not have trading experience so they do not know the position of buying the right coin and selling coins at the right price, and usually beginner traders are also still easy to panic.

Not only beginners, even the experienced trader often to panic when something wrong happened in the market.
Crypto market is so different with stocks, everything can be loss in one night or price dropped more than 20%
So it's really hard i think for not panic because sometimes a bad news can effect the entire market

Anyone who lacks understanding of his asset will do blunders regardless of his experience. There is always dear of losing when a person does not understands the potential of his asset. That fear is the major cause of such mistakes like panic selling. Even bitcoin investors fail to become rich because they never ever understood their coin but only focused on making money and did what news said.

I don't see anything wrong for those bitcoin investors who do sell off on earlier time and as long they are profiting then I do consider it to be a good move.
Yes, its different compared to those who hodl for long but profit is profit they do only differ on the intensity.Feeling of regret is there though but past is past and we
cant changed it up. Trading rules for beginners are quite basic which do involves out mostly on emotion matters.

[DoublerHunter]

~snip~
Finally, "invest what you can afford to lose"... this's the most important of them all.

^ These magic words are very common in trading. Invest that you can afford to lose is good advice as well. It means not the daily needs you are going to invest in. OP has shown good advice but I noticed that it is a lack of tips there are too many not to mention and need to have improvement. Nevertheless, if you are a trader just research your own and dont rely upon others. Reading here in the forum will bring good benefits if you want to trade and gain knowledge.

[aysg76]

See there are many tips which can help the traders to trade in this highly volatile market but most important of all is that level of knowledge and skill that one implies in trading techniques to gain huge profits even when the market is low.But you have mentioned some good points like controlling your emotions in the market while trading and invest only that you afford to loose.

[ufaiz50]

Almost all points I agree, many things are missed by traders from these simple rules. I see a lot of traders who missed point 5, here if you can control your emotions it will be fine, but those who don't usually panic easily and end up with self-inflicted panic. I do not agree with point 7, because in my opinion you do not trade seriously if you are willing to lose money.

[Jellachrist]

This points are indeed helpful I'm actually new here and my inttention is to focus fully on trading coming across those points just give me some inserts about some possible risk and what to do to limit them. I was actually thinking of selling a landed property but with what I see here its not advisable thanks for this brief information.

[panganib999]

1. Yes, it's theoretically possible that you can make huge money in a very short period of time but there's very high chance you would end up loosing all your money so never think of making easy and quick money!

I highly agree with this. The market movement is very unpredictable, investing and trading will be a rollercoaster ride of predictions, hoping and thinking what would be next. Prices, which is highly affected by the actions and movement of crypto enthusiasts inside the crypto space could kick up to the highest possible price now then go back down to the lowest, that's why being impulsive doesn't have a place here. Everything should be calculated and decision wise.

[TinaK]

This points are indeed helpful I'm actually new here and my inttention is to focus fully on trading coming across those points just give me some inserts about some possible risk and what to do to limit them. I was actually thinking of selling a landed property but with what I see here its not advisable thanks for this brief information.

That is not voice idea dude, do not focus in crypto trading because already many traders lost their funds and mood out for investment kind of businesses.
Well if you want to try the trading still without any hesitation, please take some time to learn trading strategies and then you can invest for day trading.

[alexsandria]

I have these just four suggestion for new traders. But sometimes new traders aren't taking friendly tips over here. Most of go without any of in depth knowlede. So here it is. Remember What, While and How. So let yourself know what you really need to watch closely and not to watch closely to avoid false conclusions. Second is How should you work with what have you seen in the chart and lastly is While you are in there, if there are some shortcomings you should be always ready to coped up. Final is that never ever let your emotions control you.

[TheUltraElite]

First we need to always knowledgable and have a continues learning to become motivated.

Being knowledgeable about bitcoin is easier and more simpler than going for altcoins which done reveal what they are doing and dont have enough of a marketplace to sell their service. In other terms those which do not have a sustainable market of their own are easy to detect and not invest in.

And last one is avoid too much greed because it will drives you going to loss.

I think greed has an importance but the more important thing is the FOMO. People need to stop getting FOMO over some coins. Do not buy at the all time high. If you feel a certain coin is worth putting money in watch it for when it does go down and not go up, because once its up it will be dumped hard.

Watch them like a hunter preys its food. Pounce on them when they are weak.

[kanayaTabitha]

I have these just four suggestion for new traders. But sometimes new traders aren't taking friendly tips over here. Most of go without any of in depth knowlede. So here it is. Remember What, While and How. So let yourself know what you really need to watch closely and not to watch closely to avoid false conclusions. Second is How should you work with what have you seen in the chart and lastly is While you are in there, if there are some shortcomings you should be always ready to coped up. Final is that never ever let your emotions control you.

I think it's okay if beginner trader doing trade with less knowledge first, they have to experienced loss and learn how to avoid it.
No traders that instantly become pro traders, i'm sure the pro traders are having a hard time in old times. and by experience and learn much technical and fundamental analysis, they can manage their loss and profits.

[michellee]

I have these just four suggestion for new traders. But sometimes new traders aren't taking friendly tips over here. Most of go without any of in depth knowlede. So here it is. Remember What, While and How. So let yourself know what you really need to watch closely and not to watch closely to avoid false conclusions. Second is How should you work with what have you seen in the chart and lastly is While you are in there, if there are some shortcomings you should be always ready to coped up. Final is that never ever let your emotions control you.

I think it's okay if beginner trader doing trade with less knowledge first, they have to experienced loss and learn how to avoid it.
No traders that instantly become pro traders, i'm sure the pro traders are having a hard time in old times. and by experience and learn much technical and fundamental analysis, they can manage their loss and profits.

The more experiences they can get will help them to build characters in trading so they can have the power to control themselves. Profit and losing are something that every trader will face it, and they should accept if they lose because that is part of trading. If the traders can learn from the loss, they will know how to prevent it in the future, so that will help them to gain more profit. They will see more things that will happen in the market because one experience in one coin will not be the same as the other coin.