Best Trading Strategies- Best Practices

[LUCKMCFLY]

I have seen least newbies being consistent. Most of the newbies can think that they already have great knowledge which does not need any much replenishment which might make them directly move onto trades without going through any minor steps which might lead to to have loss.

There are a number of smaller points which should be considered before moving onto real trades because trading with the huge volatile markets would never give you profits if you are unaware about the steps to minimize your risk, maximize your profits, diversify your portfolio, etc because these small things are going to help you on a major extend. That's why I always prefer each and every newbie to spend hours in learning about these points before they could trade with any coin.

This is probably one of the biggest flaws of newbies, they watch a few videos and then they think they are already expert traders that can make a lot of money in the markets in a rapid way, but the markets are more complex than that, if things begin to go in the wrong direction you can be sure they are going to take mistaken decisions and they will try to recover the money they lost as soon as they can, and the markets are very harsh to people like that and sooner rather than later they will find themselves without any money.

This is a very common problem, everything is for a business system, commercial marketing sells a lot and there are always people who at first feel they are very lucky, and think that leaving everything to chance is like betting, but when it comes to losing The losses will be very large, very difficult to recover.

It is better to read books of speculators, that way you learn to think like them and understand the market.

[KnightElite]

I have seen least newbies being consistent. Most of the newbies can think that they already have great knowledge which does not need any much replenishment which might make them directly move onto trades without going through any minor steps which might lead to to have loss.

There are a number of smaller points which should be considered before moving onto real trades because trading with the huge volatile markets would never give you profits if you are unaware about the steps to minimize your risk, maximize your profits, diversify your portfolio, etc because these small things are going to help you on a major extend. That's why I always prefer each and every newbie to spend hours in learning about these points before they could trade with any coin.

This is probably one of the biggest flaws of newbies, they watch a few videos and then they think they are already expert traders that can make a lot of money in the markets in a rapid way, but the markets are more complex than that, if things begin to go in the wrong direction you can be sure they are going to take mistaken decisions and they will try to recover the money they lost as soon as they can, and the markets are very harsh to people like that and sooner rather than later they will find themselves without any money.

They think that they can easily learn trading by just watching videos in the internet. They do not know that there is a process that is required to understand fully the market. It takes months to understand and to become familiar to the price action. Newbies are most likely a arrogant persons because they thought that they fully aware in all of the information in trading just because they watched informative videos.

[Meowth05]

I have seen least newbies being consistent. Most of the newbies can think that they already have great knowledge which does not need any much replenishment which might make them directly move onto trades without going through any minor steps which might lead to to have loss.

There are a number of smaller points which should be considered before moving onto real trades because trading with the huge volatile markets would never give you profits if you are unaware about the steps to minimize your risk, maximize your profits, diversify your portfolio, etc because these small things are going to help you on a major extend. That's why I always prefer each and every newbie to spend hours in learning about these points before they could trade with any coin.

This is probably one of the biggest flaws of newbies, they watch a few videos and then they think they are already expert traders that can make a lot of money in the markets in a rapid way, but the markets are more complex than that, if things begin to go in the wrong direction you can be sure they are going to take mistaken decisions and they will try to recover the money they lost as soon as they can, and the markets are very harsh to people like that and sooner rather than later they will find themselves without any money.

They think that they can easily learn trading by just watching videos in the internet. They do not know that there is a process that is required to understand fully the market. It takes months to understand and to become familiar to the price action. Newbies are most likely a arrogant persons because they thought that they fully aware in all of the information in trading just because they watched informative videos.

I think it is normal for newbies to be an arrogant since they were just starting, they are only suppose to procure experience and knowledge that is why my recommendation for newbies is to use a small amount just to familiarize with these transaction. Watching some videos with regards trading is great but this won't be enough to learn all the things we should learn, use multiple way to earn knowledge and experience in order to become an expert trader.

[Coyster]

We should try to avoid giving any tips to newbies as they would never follow those.

I'm not against giving out tips to newbies, not all of them will follow such tips, but it may help some others to shape their trading. It's not to say that those tips, strategies and advices are correct and will secure profit for the newbies, it's just better for them to get tips on the forum where wrong tips and scam would be immediately crosschecked and tackled, on youtube, newbies can be misled easily, they could be taught wrong signals and no one will challenge the information, they can also be scammed since they don't understand "ALL" yet, so if one has useful tips or whatever to help newbies, I support posting it.

[South Park]

This is probably one of the biggest flaws of newbies, they watch a few videos and then they think they are already expert traders that can make a lot of money in the markets in a rapid way, but the markets are more complex than that, if things begin to go in the wrong direction you can be sure they are going to take mistaken decisions and they will try to recover the money they lost as soon as they can, and the markets are very harsh to people like that and sooner rather than later they will find themselves without any money.

This is a very common problem, everything is for a business system, commercial marketing sells a lot and there are always people who at first feel they are very lucky, and think that leaving everything to chance is like betting, but when it comes to losing The losses will be very large, very difficult to recover.

It is better to read books of speculators, that way you learn to think like them and understand the market.

I think that is the source of the discrepancy between the views that newbies have about the market and how easy they think it will be and the reality of it which is experienced by traders like us which know that if you can at least survive your first year of being a trader and still have most of your money then you are in the path of success, and the only way to correct this is by being upfront to newbies about this, but many of them never listen thinking they know better than us.

[sana54210]

I think you need simplify your post by say " we need plan ". Before enter market we should have plan with clearly priority and target, such as stop loss, take profit and money management. Plan can be design if we do analysis like your list, everything came from there. Analysis priority is know market habit and our ability to take risk. First goal is grow your capital not make money, so fix mindset about mindset and enjoy the journey.

Plan or strategy or anything you may call them but that is not a thing here. We just need one and more importantly we must need to follow them.

In my beginning days of trading, I do plan many things like timing when to trade which market and when to stop but after entering into the market frustrations I do forget all those things and simply trade as per my wish which usually ending up in big losses. Trading always require big discipline. When you are good in technical analysis, you might have more than 50% chances to make profits as the remaining parts are purely depend on how discipline you are while trading.

[Baoo]

Well, I am pretty agree with you OP. In addition to that, being yourself is one of the important ways to succeed in this domain, many people will try to give you some advices and regrettably most of them are useless. Just focus on yourself and try to improve your knowledge in  different ways, and believe me, there is a great possibility that you will lose a lot of money in beginning and that's necessary in my opinion, failed experieces will teach you correctly and even more than the successful ones.

[Bagaji]

• Watch the price action
• Watch the order flow
• Recognize the pattern
• Do quant analysis
• Study charts
• Analyze trends

When you are trading beginner, there is a lot to learn. Here are a few steps to get you started in the right direction. These tips will not only help you decide what and when to trade, but also show you how to manage risks, and how much capital you will require.

I don't think all that you have mentioned has any connection with risk management. When you talk of risk management, it should talk inrelation to money management and one emotion and not the strategy on how to trade that should be referred to as how to manage risk.

[Hypnosis00]

Well, I am pretty agree with you OP. In addition to that, being yourself is one of the important ways to succeed in this domain, many people will try to give you some advices and regrettably most of them are useless. Just focus on yourself and try to improve your knowledge in  different ways, and believe me, there is a great possibility that you will lose a lot of money in beginning and that's necessary in my opinion, failed experieces will teach you correctly and even more than the successful ones.

There is no harm to listen to other's opinion and may these are also helping to develop our mindset but of course, we also have to think and act wisely in accordance with our beliefs. In this kind of investment, we shouldn't have to rely on others all the time but instead, we have to stand our own. But much better also if we are open-minded person accepting some new ideas and for us to develop also, and this is very important in any investment and business.

[tradingedge]

I use confluence of price actions + key levels. For example happening now, BNBBTC pair in Binance is having a Bullish Engulfing candlestick pattern at EMA 100 key level with a swing low, I would consider open a trade here

https://i.postimg.cc/R0Pg738X/Screen-Shot-2020-02-13-at-9-12-29-PM.png

This is my main trading strategy so I created a mobile app to support me on this strategy. In Trading Edge (https://www.gettradingedge.com/) app, I create a trigger with BNBBTC, Bullish Engulfing, EMA 100 and swing low. If all conditions are met, the app will send me a push notification. Please try it out and let me know what you think!

[Dmasked]

A particular strategy cannot be applied at different times. We can analyze the basics but not everyone can apply that successfully though. We all know that buying high and selling low is the main point of making trades but how you determine that can be a lot more challenging. There are times when i feel like taking time to study the market movements and try to see if it can day trade. Most of the time though i adopt the simplest strategy, look for a coin that's on a downward trend, buy and then hold until it recovers. I usually use Binance so i feel confident about the coins i choose there

[Kelvinid]

A particular strategy cannot be applied at different times. We can analyze the basics but not everyone can apply that successfully though. We all know that buying high and selling low is the main point of making trades but how you determine that can be a lot more challenging. There are times when i feel like taking time to study the market movements and try to see if it can day trade. Most of the time though i adopt the simplest strategy, look for a coin that's on a downward trend, buy and then hold until it recovers. I usually use Binance so i feel confident about the coins i choose there

That is very important to know how to read a chart and analyze its market trend. Learning this will takes time and it needs effort as well. Being in the rush to be in trading won't give a positive result but a losing ends. Actually, having a good choice of coins to trade could also affect your trading result. That is why, in choosing a coin, we should not just consider its current price but we have to take a look also of its previous market background and so we can think that if this certain coins have a chance to grow or not.

[SquallLeonhart]

A particular strategy cannot be applied at different times. We can analyze the basics but not everyone can apply that successfully though. We all know that buying high and selling low is the main point of making trades but how you determine that can be a lot more challenging. There are times when i feel like taking time to study the market movements and try to see if it can day trade. Most of the time though i adopt the simplest strategy, look for a coin that's on a downward trend, buy and then hold until it recovers. I usually use Binance so i feel confident about the coins i choose there

That is very important to know how to read a chart and analyze its market trend. Learning this will takes time and it needs effort as well. Being in the rush to be in trading won't give a positive result but a losing ends. Actually, having a good choice of coins to trade could also affect your trading result. That is why, in choosing a coin, we should not just consider its current price but we have to take a look also of its previous market background and so we can think that if this certain coins have a chance to grow or not.

Some coins might not follow their past movements and might bounce back exactly opposite. A deep technical analysis would make it easier for us to understand the trend. Usually we need to consider majority of oscillators in order to be understand the trend and this is made easy with TA. You have to spend most of your time in front of the graphs in order to start with trading.

Trading is nothing which should be made in hurry. You really have to spend a lot of time in learning about trading and even after that you have to start analyzing the charts and select coins accordingly to invest into. Investments are always subject to market risk so never forget to study about risk management before you could start trading.

[redsun114]

The above tips mentioned are some basic ones and would need detailed knowledge further but I could not see how could we manage risk and could calculate the amount of capital we require only with these tips? Risk management would be a entirely different subject to study after learning about the charts and patterns.

Plus, those tips you mentioned above are not easy to learn. It would need weeks for newbies to start implying these tips and it might even seem a bit challenging at the initial stage. There also are a lot of other things which are important to be considered before moving to trade with real funds. Each newbie should first perform demo trading to gain some experience.

[Genemind]

Trading is a continuous learning process so we have to be eager to learn every day. We should also invest what we could afford to lose. It's also a big advantage if we'll be skeptical about choosing a good coin to invest with.
Giving daily tips especially for beginners is a big advantage. It's important that we'll remind each other continuously.

[Subbir]

It is normal for you to lose profits in trading but I feel you'll learn it as long as there's a loss  From there you've got to maneuver forward with education the proper steps need to be taken to research its charts for trading. It helps newcomers more  If you would like sufficient capital and you would like to shop for the currency due to the market situation you'll benefit.

[Lakshman15]

I am very new to trading. Just learning. Bit yesterday I do trading with out having no idea hear I loss nearly $2.After losing money , I realize what mistakes I do. Your suggestions are very important for me. In my text trading I must follow those.

[MWesterweele]

I am very new to trading. Just learning. Bit yesterday I do trading with out having no idea hear I loss nearly $2.After losing money , I realize what mistakes I do. Your suggestions are very important for me. In my text trading I must follow those.

Always monitor the market before trade your coin is ny strategy in trading. Also know when to hold when dumping and trade when little by little pump. Patience is needed because monitoring the market s really time consuming, but there is no need to worry if you have a worth it coin because there s chance can gives you a good prifit, so I recommend to hold your coin as long as you can abd trade it when the pumping continuously.