What advice will you give to a beginner trader?

[Astvile]

Study everything about trading. Be confident and have discipline and a plan to follow. That is all you need to have in order to be successful at trading. Learn how to manage your risk and capital and you are all good. Remember a big percentage of trading is about testing your patience and emotions never let yourself lose just because you lose one trade. And the most important rule DONT BE GREEDY.

[ARNishad_45]

There are some advices which i want to give to new traders are:-

1) He should analyse the market before he jump into trading.
2) Try to gain more & more knowledge related to trading , which is available on different platforms.
3) After gaining knowledge, he should practise paper trading(virtual trading), there are many platforms where you can do paper trading.
4) You should have your trading plan & follow that plan strictly with discipline.
5) Don't greed, if your targets are achieved then simple exit from the market or you can use trailing profit.
6) Must use stop loss , many traders hold their trades when it is going opposite to them & they think it will recover from here, as a result they exit from a market with a huge loss.
7) The most important thing is that you should try to save your funds , you should try try to avoid loss as if our money is safe , we can trade again.
You should wait for perfect entry, no need to do more trades but you need to do quality trades.

These are some points which will be useful to a new trader but these are beneficial when any person follow it properly...

[Benefactor]

I propose you should peruse more about stocks, digital currencies, and forex. YouTube and online sources can give you an immense measure of information in a brief timeframe. I wish I have constantly to recuperate my misfortunes back in my day exchanging days however. I just took in certain instructional exercises in YouTube and they showed me the utilization of exchanging apparatuses particularly in Binance.

[Issa56]

From the little experience am having in trading as a beginner there are lots of things you have to know which I will like to mention few,
1. You don't have to be greedy always know when to exit the market and take your profit
2. Don't trade or invest what you can't avoid to lose
3. Always make sure you don't borrow money to invest in Cryptocurrency
4. Don't just invest in anyhow coin always make your research first before buying an coin
5. Don't FOMO etc
There are other things you will have to know but you can do more research and findings about it.

[SacriFries11]

Study everything about trading. Be confident and have discipline and a plan to follow. That is all you need to have in order to be successful at trading. Learn how to manage your risk and capital and you are all good. Remember a big percentage of trading is about testing your patience and emotions never let yourself lose just because you lose one trade. And the most important rule DONT BE GREEDY.

That's right. I agree, its not easy to trade especially if you have not enough knowledge. There's a lot of topic about in trading here in the forum, if you want to have guide in trading you can watch in Youtube tutorials. I'm starting to deeply study about crypto trading but its really takes a lot of time and dedication towards you're goal if really want to learn about trading. If you just plan it but not executing it properly, nothing will happen. Free demo trading platforms will help you to practice your trading. Learn to properly set the right indicator and right timing of entry and exit.

[Vinaa77]

If you are new to knowing I suggest reading to take classes. there you will get a lot of learning about trading because of course it becomes an important point that this business has a high risk.

• Buy trading book
• Join Class Trading

Don't just read on the internet, you will find it difficult to have insights that can be learned. I think the investment by taking the class is worth it because we can learn from the experts

[cheezcarls]

Lately, I got someone who reached out to me that he still a beginner in trading and has no clue on where to begin as he is so confused. The advice that I gave to him was to spend some time in educating himself to learn the basics of trading. I also advice him to be self-resourceful by looking in to Google, Youtube, Bitcointalk, etc., to find some content related to trading.

I also suggested him some platforms like Newscrypto to learn crypto trading from beginner to advanced level and gain access to some tools plus the demo trading simulator. It’s better to practice trading first with a demo account rather than going all-in with your funds without much knowledge.

[Viscore]

If you are new to knowing I suggest reading to take classes. there you will get a lot of learning about trading because of course it becomes an important point that this business has a high risk.

• Buy trading book
• Join Class Trading

Don't just read on the internet, you will find it difficult to have insights that can be learned. I think the investment by taking the class is worth it because we can learn from the experts

Having a formal class would help, but honestly that's expensive, and I believe that most traders are just learning how to trade through online information they read. We in the generation where information are already shared online, if we are too resourceful, then for sure it will help us to succeed.

Trading is like a business, you take a high risk in doing it, therefore it requires the right knowledge before you risk a considerable amount, but you can always practice with small amount first, just increase along the way as you learn.

[kolbalish]

I am explaining from my experience that those who want to trade, please understand beforehand what is trading? For beginners, you should devour a lot of duration learning how to trade before you commence trading. Research until you are evident and have sufficient knowledge about trading. I guarantee that trading is not performed by overhearing to anyone or with any motivational speech. There are words - think twice and then act.

[fullhdpixel]

~snipped~

These are some points which will be useful to a new trader but these are beneficial when any person follow it properly...

I would say this list is as common as it gets and still not followed by all newbies is what makes our market very dangerous for them. I agree almost with everything here, and they are very commonly found in any investment book as well, you have to be careful to follow them and just be careful when trading as well.

However the problem with the newbies these days is that they have worked all their life for money that doesn't exist, they ended up spending it because life is not fair and paycheck to paycheck life is a reality for over 2 billion people and they are probably one of them, you end up saving 10k dollars by miracle if you ever can (some even can't) and you want to have enough money to just retire or maybe even have your own work because you hate working for others. What happens? You end up getting carried away by these news of people who made tens of millions of dollars profit from bitcoin and you throw all caution to side and go into crypto all-in and make mistakes.

[Stalker22]

As a novice in cryptocurrency trading, I tried to get as much information as I could by reading a range of publications and online tutorials. What I recall as good tips for all beginners are the following five techniques:
- Learn and understand the overall concept of cryptocurrencies
- Start small and scale gradually
- Invest in multiple coins
- Track market movements and learn from them
- Reallocate your investment

I may have missed something, but these are the ones I've been acting on.

[cyriljundos]

Hey,

I would like to know some advice and information which will be really helpful in my trading journey. I have invested $500 for the start and I am willing to learn and invest more.

The advice I gave myself in these 2 weeks is that If any of my coin investment is going low in price, I just need to hold and wait for it to come back at the profit level.

I am sure we have traders here with vast experience.
Really excited to learn new things.

As an alt coin trader the best thing you may do first before you trade or invest in a coin is simply you must research first the coin you may want to trade , do research about graphs and how trading works, techniques so that you may not easily lost your capital. Be wise and knowledgeable in buying a coin, join telegram or ask for trading expert advice so that you can gain more profit from trading.

[kpierce77]

When I was new, I used to watch videos on youtube. We can get a lot of knowledge from video tutorials on YouTube, but if you really don't know the basics of crypto, at least you have to study hard like reading articles and also how to be able to master the basics of crypto without spending money. Don't force it to immediately try trading if you haven't mastered it, first try creating a demo account or something without spending a lot of money

[imstillthebest]

When I was new, I used to watch videos on youtube. We can get a lot of knowledge from video tutorials on YouTube, but if you really don't know the basics of crypto, at least you have to study hard like reading articles and also how to be able to master the basics of crypto without spending money. Don't force it to immediately try trading if you haven't mastered it, first try creating a demo account or something without spending a lot of money

nice of you mate .

 i always underestimate youtube because i think it was only a waste of time but i didnt know that there are also channels created to learn crypto trading but what are the name of those channels mate ? or you can drop a link

, this will help experienced traders and newbies to improve their trading knowledge . time will come that crypto trading videos will be given a chance to get recomended by youtube , helping people to watch worth it videos that they can use to earn

[Sinjokubhi]

Hey,

I would like to know some advice and information which will be really helpful in my trading journey. I have invested $500 for the start and I am willing to learn and invest more.

The advice I gave myself in these 2 weeks is that If any of my coin investment is going low in price, I just need to hold and wait for it to come back at the profit level.

I am sure we have traders here with vast experience.
Really excited to learn new things.

1. Choose the right broker
The choice of a broker is very important, especially for a fraudulent broker. Already tired of trading, the broker took the money away. Check the track record of the broker, legality, where registered. After that, just check the facilities and features provided. Is the software comfortable to use, complete features, and so on. Customize brokerage services to suit your trading style.

2. Start with a small amount of funds
One of the best tips for trading is to start with a small amount. After a new consistent profit is added. The large amount of funds does not guarantee easier trading. The same. If you can't trade well, using a million, a billion, a trillion will still run out.

3. Be realistic
Be realistic about trading results. Don't think about trading for living just yet. Unless you are extremely lucky, don't expect to turn your $ 100 trading capital into $ 100,000 in an instant. In fact, the focus of trading is actually survival. If you expect too high, you will only be disappointed, frustrated, desperate and ultimately fail. Right from the start of trading, think and be realistic (unless you are very, very lucky). Unfortunately no one is very, very lucky.

And most importantly, be disciplined, consistent, and have enough knowledge to trade.

[Majharul Saiif]

From my own perspective, you will learn in every stage of trading and you should go after gathering proper trading knowledge how to survive in the market. It will help you for being more patience and will keep you optimistic that you will be succeeded in trading.

If you have enough balance and you can afford it while your strategy fall, then you may go for trading. Don't put all in one, spread your budget to some coins or tokens then you may able to make it proper distribution that will help you to involve more in trading.

[coiner-88]

I recommend you should peruse more about stocks, cryptographic forms of money, and forex. Youtube and online sources can give you an immense measure of information in a brief timeframe. I have constantly to recuperate my misfortunes back in my day exchanging days however. I just educated a few instructional exercises in Youtube and they showed me the utilization of exchanging apparatuses particularly in Binance.

[fullhdpixel]

I recommend you should peruse more about stocks, cryptographic forms of money, and forex. Youtube and online sources can give you an immense measure of information in a brief timeframe. I have constantly to recuperate my misfortunes back in my day exchanging days however. I just educated a few instructional exercises in Youtube and they showed me the utilization of exchanging apparatuses particularly in Binance.

Youtube sucks bro and I literally watched a lot of videos but never found one good video which explains some ways of how to read charts and how to predict the movements. All I have learned about trading is by some good content on this forum and some good articles and mostly from my own experience in trading.

Please can you share those videos which you mentioned? I would really appreciate if you can share because like me, there are many guys on the forum who thrive to watch some good content on youtube and unfortunately can't find it. Even the recommendations from youtube are so pathetic that it almost feels like there aren't enough trading videos on youtube. Most of them are just promoting a brand and going round about it.

[londongamer]

Trading is a good way to make money but it is so risky for new traders. I will suggest new traders to trade on demo account. More market analysis is needed for being a good trader.

If you can time the market right, trading crypto can give you much higher returns than traditional investments.
That's why knowing and considering what's the best cryptocurrencies over the market is sometimes a must. Furthermore, that is where we can see BTC, ETH, XRP and LTC. Actually a lot more. Also choosing the right and safe exchange should be learned.
For traders who are simply beginning, the cryptocurrency market can some of the time feel like a wild rollercoaster ride. So better to have an open eye and an open mind always.   

[Waltmart]

Trading is a good way to make money but it is so risky for new traders. I will suggest new traders to trade on demo account. More market analysis is needed for being a good trader.

If you can time the market right, trading crypto can give you much higher returns than traditional investments.
That's why knowing and considering what's the best cryptocurrencies over the market is sometimes a must. Furthermore, that is where we can see BTC, ETH, XRP and LTC. Actually a lot more. Also choosing the right and safe exchange should be learned.
For traders who are simply beginning, the cryptocurrency market can some of the time feel like a wild rollercoaster ride. So better to have an open eye and an open mind always.   

I just recollected this colloquialism; “don’t put all your eggs in one basket,”  it may be old, yet it's a recommendation that actually remains constant when investing in cryptocurrency. Furthermore, simply a say, Instead of using only one single exchange, it very well might be smarter to use a few distinct exchanges to deal with your trades. Indeed, even the biggest ones have experienced hacks, so it pays to spread your possessions across various accounts.
However if you would prefer not to and you think it is more complicated for you, you can go for one. For instance, kucoin. I actually do my trading for BTC and ETH over there for about years. And I'm still good.