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Author Topic: Newbie trader be like  (Read 552 times)
Jercyhora2 (OP)
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November 09, 2019, 12:08:42 PM
 #1

I waste lot of money on trading. Without planning I lost every trade which mostly the problem. By the way it's only trial but I didn't want to stop.

Making plans is needed to have successfull trade. Without plan, you're giving away your holding out of you. The one lesson I learned about trading  is plans is very important. At the same time patience.
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November 09, 2019, 12:16:06 PM
 #2

Careful planning is certainly very much needed by every trader, be it for novice traders or experienced, the planning that is built is certainly through the analysis and experience they have learned before starting trading in several markets.
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November 09, 2019, 12:20:10 PM
 #3

Plan your trade and make sure you don't get easily swayed by the market direction. From experience, emotions can affect you and how you execute your trading plan/s.
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November 09, 2019, 12:24:02 PM
 #4

Dedication, strategy(plan) and patience are keys to success in trading. if you are a newbie, do not put too much money into it because you are not in the position of getting something but learning. Do not overcomplicate your trade because it will confuse you making a decision, try it with a small number of money to familiarize yourself with the market. after you get the feeling, try to increase your stake to test your ability.

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November 09, 2019, 12:29:43 PM
 #5

Like you I wasted money on trading, back in the days when I was just a beginner. Almost every week I spend money on trading as I assume that when you buy a cheap coin you have the advantage of making a big profit by assuming the price goes up. But not really because not all coins can be trusted to give me a profit and that's what I learned. So it is not just the plan and patience we need, we also need the knowledge that will give us to find the legit coin.
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November 09, 2019, 12:41:55 PM
 #6

You are right. You need to have a good trading plan in having some research. But I salute you in doing trading to be trial and to be familiarized about every transaction because I believe that having actual trading activity to learn is better rather than reading trading articles that we don't really if teach right way to trade. Doing it in your own with real trader's guide is better to learn fast.
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November 09, 2019, 12:47:04 PM
 #7

I will post update base on my experience, let's see how far of knowledge I can go
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November 09, 2019, 12:50:40 PM
 #8

I waste lot of money on trading. Without planning I lost every trade which mostly the problem. By the way it's only trial but I didn't want to stop.

Making plans is needed to have successfull trade. Without plan, you're giving away your holding out of you. The one lesson I learned about trading  is plans is very important. At the same time patience.
I feel you, since i'm always experiencing that kind of incident while doing trading, I think my lapses was i'm easily overcome by my emotion! my mind tell me to sell when the coin that i was traded started to dip its price, i sell instantly without considering that the price may surge in the following hours.
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November 09, 2019, 12:55:18 PM
 #9

Your plan is good at every time there are mistakes and you can't give up, even ready to deal with it, especially our mental, novice traders will suffer only a few losses, but in that loss you can understand you better for trading and also analytical skills must prepared.

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November 09, 2019, 12:56:20 PM
 #10

I waste lot of money on trading. Without planning I lost every trade which mostly the problem. By the way it's only trial but I didn't want to stop.

Making plans is needed to have successfull trade. Without plan, you're giving away your holding out of you. The one lesson I learned about trading  is plans is very important. At the same time patience.
Also dont forget to cutloss if you think the price will go deeper so will not be lost that much. There is nothing wrong with trial, but dont forget that dont use all your money just for trial so incase you learn you still have balance to start to recover your lost from trading.
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November 09, 2019, 12:56:57 PM
 #11

I waste lot of money on trading. Without planning I lost every trade which mostly the problem. By the way it's only trial but I didn't want to stop.

Making plans is needed to have successfull trade. Without plan, you're giving away your holding out of you. The one lesson I learned about trading  is plans is very important. At the same time patience.
actually when you are already buying without planning or rushing in buying, I think it's natural for a newbie. I also, sometimes too rushed to buy. you need to understand is, your patience in waiting for price increases. indeed we need analysis when we want to buy, because there is a prediction whether the coin will go up or down. but it can miss, and get out of the prediction before.

that is, be patient when it will sell, wait for prices to rise. but when already bought, do not regret. because in my opinion buying it anytime is the right time when we have capital.
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November 09, 2019, 12:57:03 PM
 #12

You have to be very careful to trade in the crypto market. It is necessary to good follow a market that changes quite suddenly. And you also need to be informed about selected coins for trade. Trade can be very profitable but also it is risky. I tried to trade daily for a while. But I finally quit because i lost money. So my advice to the newbies, you should to do research and learn the market before trading.
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November 09, 2019, 01:06:32 PM
 #13

without a plan anything can be detrimental , trader needs a lot of lessons including planning and patience not only that mate a trader must also have a deep understanding of the situation or conditions that are in the price pattern ,experience is more important than so you will not fall as you have occur

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November 09, 2019, 01:08:12 PM
 #14

I waste lot of money on trading. Without planning I lost every trade which mostly the problem. By the way it's only trial but I didn't want to stop.

Making plans is needed to have successfull trade. Without plan, you're giving away your holding out of you. The one lesson I learned about trading  is plans is very important. At the same time patience.

Patience is the key. But more patience may create a stupidty.
For example. I am holding NPXS for a while. I bought my first NPXS when it decrease 40 satoshi. Then I wait... wait wait... It fall to 10 satoshi.
I had to make a choice. Wait for pump or sell and run! I sicked of waiting NPXS anymore and I sold it even if I was in loss. And I am happy now.

So patience is the key but you have to learn when you be patience or not.

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November 09, 2019, 01:12:59 PM
 #15

Plan should be done before moving, without a plan you'll get lost and may not made a right decision. While it is normal for newbies but it can lessen the lost if the plan is made before trading. When I join crypto all my plan is for btc eth only since it's only what I understand. Then slowly studied the others.

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November 09, 2019, 01:15:35 PM
 #16

I waste lot of money on trading. Without planning I lost every trade which mostly the problem. By the way it's only trial but I didn't want to stop.
Losses is somehow fated on traders and sadly we could just learn along with waste of money and the least we could afford is the experience and knowledge that we can get through it.

Making plan is great but that doesn't guarantee a 100% success and so trial and error. While reading and researching a lot could help but nothing beat on first hand experience, that would be the best mentor ever.

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November 09, 2019, 01:31:55 PM
 #17

The first trade I did was tragic. I had lost almost around $400 dollars investing out of FOMO since most of my friends had doubled their money in a certain coin a few years ago. To make it worse, when I created a wallet for that coin, I wasn't able to save the file for the wallet and completely had lost access to it. That is why making sure to know what you are getting involved before investing is a must. A lot of newbies commit mistakes during their trades because of misconception in tradting that it is an easy way to earn money.

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November 09, 2019, 01:45:04 PM
 #18

I waste lot of money on trading. Without planning I lost every trade which mostly the problem. By the way it's only trial but I didn't want to stop.

Making plans is needed to have successfull trade. Without plan, you're giving away your holding out of you. The one lesson I learned about trading  is plans is very important. At the same time patience.
Start trying without any knowledge is really bad mistake,you are going to spend real money for the lessons,which can be lessen if you did this before begin the trading career even the you can get trial on lot of free trading simulators which works same as the real trading but with free money.









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November 09, 2019, 01:47:49 PM
 #19

I waste lot of money on trading. Without planning I lost every trade which mostly the problem. By the way it's only trial but I didn't want to stop.

Making plans is needed to have successfull trade. Without plan, you're giving away your holding out of you. The one lesson I learned about trading  is plans is very important. At the same time patience.

Patience is the key. But more patience may create a stupidty.
For example. I am holding NPXS for a while. I bought my first NPXS when it decrease 40 satoshi. Then I wait... wait wait... It fall to 10 satoshi.
I had to make a choice. Wait for pump or sell and run! I sicked of waiting NPXS anymore and I sold it even if I was in loss. And I am happy now.

So patience is the key but you have to learn when you be patience or not.

I'm studying scalping, I prefer to it most because every wave, fluctuations are opportunity whether it's big pump o small. And also I learned that both ups and down is good. We also need dumps for us to buy again at the low price. Maybe try to do scalping too, for you to learn and also to earn.
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November 09, 2019, 01:51:14 PM
 #20

I waste lot of money on trading. Without planning I lost every trade which mostly the problem. By the way it's only trial but I didn't want to stop.

Making plans is needed to have successfull trade. Without plan, you're giving away your holding out of you. The one lesson I learned about trading  is plans is very important. At the same time patience.

I hear you, i remember my first crypto trade, it was classic buying the top. I had to take several steps back and make few other rookie mistakes, but building that plan needs a base to build it on, you can either use just TA or TA with fundamentals, but with fundamentals you need experience to weed out the irrelevant projects faster.
Only problem is that and experience comes trough mistakes so that will cost a lot.
I still make mistakes, but these days i see them as in expensive lessons.

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