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Author Topic: What advice will you give to a beginner trader?  (Read 878 times)
TIDOVEE
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September 12, 2020, 02:55:44 AM
 #81

The journey has begun, and your determination has something to do about you becoming a good trader. Trading involves risk, however optimistic you may be prepare to loose once in a while, get Connected to virtual portfolio, trading is easier now a days, ofcourse you can trade with just an app, I will advice you not to start trading for people yet, get it right yourself first. You may also get more tips on how to be a successful trader on youtube...Don't stop enquiring.

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September 12, 2020, 10:39:03 AM
 #82

If you are just starting to trade, then you should not use margin trading and futures. Block these sections and never go there in the coming years. Margin trading and futures are designed for experienced traders who, despite their experience in trading, also often receive losses.





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September 12, 2020, 04:35:29 PM
 #83

That's right you need some patience when you're investing and don't just wait for it to have a decent price, also look for any development or market movement of the coin so you will know what entry price you will input. And just a suggestion don't put all your money into one investment make sure to invest it in different coins so you have a variety of assets in case the one didn't do well.

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September 12, 2020, 06:58:54 PM
 #84

Trading is the 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.

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September 12, 2020, 10:56:47 PM
 #85

Trading is the 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.
They'll never find it hard or easy if they never have tried it. Of course, no one gets perfect at the very beginning, we all suffered the consequences that we afraid of but keeping these mistakes makes us learn and improve ourselves and strategies. Because if we feel about worries and doubts about ourselves, definitely we never have the courage to take the risk as well.

Trading needs commitment and strong minds. These things will help us to decide the right thing to do.


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September 13, 2020, 01:55:48 AM
 #86

Trading is the 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.
They'll never find it hard or easy if they never have tried it. Of course, no one gets perfect at the very beginning, we all suffered the consequences that we afraid of but keeping these mistakes makes us learn and improve ourselves and strategies. Because if we feel about worries and doubts about ourselves, definitely we never have the courage to take the risk as well.
I agree. Once you're done studying the theories of trading then you had no choice but to do the next step which is actual application. That is where you will learn even more. Yeah! There is a high chance of making mistakes along the way but don't stop. Failure is a part of learning so be courageous Smiley. As long as you are following the "Buy low, Sell high" principle then everything is gonna be alright.

My advice for new or even those feeling new in daytrading, invest with bitcoin first. Don't suddenly jumped on defis or new sprouting tokens because they are more complicated to handle.

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September 13, 2020, 06:47:23 PM
 #87

As a beginner there are lots of things you will have to learn. The first advice I would give to a beginner is that they should start small. I do understand everybody has their personal problems that they are dealing with and they seem not to be able to have patience and focus for a while, because they want to make money and get rich quick and start tackling their problems, but slowing down and focusing for sometime might really help you a lot in future, best to endure now and enjoy tomorrow.

Like a newbie that was asking in the altcoin section of the forum how he’s going to get a hundred times of his investment, he’s in a hurry to make the money and forgetting that he should calm down and learn some things first. The next thing I’d like to say is that you should avoid cryptocurrency that are liquid, with these ones there are no chance of you hitting a big return on investment.

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September 13, 2020, 11:54:28 PM
 #88

For a starting trader,  you must first focus on learning about certain things related to trading such as the currencies you wish to trade to better get familiarization on such coins to also know what suits your budget and preference. Learning must be the first stage you must know and acquire before doing an engagement in trading. You must equip yourself first by lots of knowledge about the market and how does trading works so you would not end up wasting your money and time. Keep yourself updated into the latest news and happenings about different markets if you wish to trade on both crypto and fiat. Start at small base to test your trading capacity and challenge what you have learned from the sources you read or watch for acquiring knowledge at the first stage. Just start slow and do not put all of what you have. Just put what you can afford just like doing investments.





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Pamadar
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September 14, 2020, 12:11:23 AM
 #89

Trading is the 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 want to start things right then doing this is the right thing to do.

Practice and check if your attitude is capable for this business, though there's a big differences between real money and demo
account but the experienced with the market movement still the same, if you are comfortable and you see that you got the chance
then use your real money and experienced the actual actions.

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southerngentuk
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September 14, 2020, 05:41:37 AM
 #90

1. start with a small money

2. only use binance, not anywhere else like uniswap

3. Do your own research

4. don't follow the hype

5. stop greed and always be happy with even small profit, profit is profit!
LouVandetta
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September 14, 2020, 07:42:14 AM
 #91

2. only use binance, not anywhere else like uniswap
This is not a wrong advice but I think it's a bit unfair to those who likes using other exchanges. I know that binance is the best exchange, or so I heard and I agree on that part. But we also have a lot of other good markets. Haven't tried uniswap so I can't say anything just yet.

Well, being a trader is not as easy as eating candy or something. You need patience and everything. Every steps you take will be reflected on your trading. Practice makes perfect and so experience, gain lots of them and you should know where to go with your trading.
Wawa2013
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September 14, 2020, 09:07:03 AM
 #92

The advice I can give to beginner traders is to start learning about the basic rules of crypto trading, after that choose a popular
and trusted trading platforms. Next start trading with a small capital, learn how to analyze the market, choose popular coins when
trading. And lastly and most importantly don't trade based on other people's signals.

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isaac_clarke22
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September 14, 2020, 01:25:10 PM
 #93

2. only use binance, not anywhere else like uniswap
This is not a wrong advice but I think it's a bit unfair to those who likes using other exchanges. I know that binance is the best exchange, or so I heard and I agree on that part. But we also have a lot of other good markets. Haven't tried uniswap so I can't say anything just yet.

Well, being a trader is not as easy as eating candy or something. You need patience and everything. Every steps you take will be reflected on your trading. Practice makes perfect and so experience, gain lots of them and you should know where to go with your trading.
Indeed.
Although I use it quite often, it doesn't mean that it is the only exchange that majority should take.
It has a wide community but that doesn't mean that that's the only exchange that everyone should go.
It's like comparing Android and Apple to each other.
Feel free to try any other exchange, but don't stray too far because there are exchanges listing fake volumes.

ibuddy122505
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September 14, 2020, 02:20:56 PM
 #94

Trading is the 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.
Same here, I strongly prescribe to do a novice trader. Being patient at the start and get into the market slowly. Various things will drop over various times. But, do your practice and wait until you have the money to throw in at the start.

wxa7115
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September 16, 2020, 05:43:09 PM
 #95

I can only give few advise to new traders. First which is very important that don't be greedy in your trade and only choose good coin
Don't enter in hype or fomo. Never buy at top. Also don't take leverage trading and be in spot trading because if you took leverage it can give you totally liquidated. Also research before investing any coin. So these are few things a new trader should follow for risk management.
All of what you say is a good advice but by far the most important is to not use leverage, leverage can be very attractive from the point of view of a newbie trader as now you can make a lot of money with even the smallest movements in the market, this can make them think they can make a fortune in a relatively short amount of time, but what they do not get is that leverage works against you as well and you will need risk management strategies to mitigate that issue.

And for the most part the way to do that is to reduce the amount you use to trade, but you could get the same effect by using the same amount of money with no leverage which show us why leverage is completely unnecessary except for the most expert traders in the market.

Rrita
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September 17, 2020, 02:38:48 PM
 #96

without proper knowledge never try to do trade. it's not so easy, but you already started to do the trade! You need to do trade with a small amount first. before starting with real money you need to do demo trade that I like and advice also for a newbie at trade. in this way you can learn without losing you capital. Hitbtc demo website is good for this, here the link https://demo.hitbtc.com/

I also suggst you to know about technical analycies. from here you can get some tips also https://www.youtube.com/watch?v=ofwtsc20hOY&list=PLvkpxFSTppmnQ7A5DP386zEKU0Tv_fatm&index=2

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Ridwan Fauzi
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September 17, 2020, 04:14:16 PM
 #97

The advice I can give to beginner traders is to start learning about the basic rules of crypto trading, after that choose a popular
and trusted trading platforms. Next start trading with a small capital, learn how to analyze the market, choose popular coins when
trading. And lastly and most importantly don't trade based on other people's signals.
Derivative/future trading is really dangerous for new trader, I felt it when I was newbie to trade. Indeed, I spend $100 to start but I use 20x leverage for my all trading system and finally I lost all my money and it was worst. Spot trading is really suitable for new trader, especially if they use bitcoin although the bitcoin price drop they still have a chance to still hold the coin and wait until the price up again and they can sell it, so they will have a small risk to lose money and also they will learn every wrong that they made for the next round.

yeamin.rsl
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September 17, 2020, 06:43:19 PM
 #98

First you need to give a lot of time to learn more. Explore the internet to know more and more about trading.You have to be Realistic About Profits.Always start with small and then when you will learn then go big.
Pick a Day Trading Market .I will recommend Binance as it is best for beginners.

Lanatsa
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September 17, 2020, 10:08:43 PM
 #99

The advice I can give to beginner traders is to start learning about the basic rules of crypto trading, after that choose a popular
and trusted trading platforms. Next start trading with a small capital, learn how to analyze the market, choose popular coins when
trading. And lastly and most importantly don't trade based on other people's signals.
Derivative/future trading is really dangerous for new trader, I felt it when I was newbie to trade. Indeed, I spend $100 to start but I use 20x leverage for my all trading system and finally I lost all my money and it was worst. Spot trading is really suitable for new trader, especially if they use bitcoin although the bitcoin price drop they still have a chance to still hold the coin and wait until the price up again and they can sell it, so they will have a small risk to lose money and also they will learn every wrong that they made for the next round.
Its very risky for someone who doesn't have much trading experience and knowledge to jump on directly to leverage/future/options trading because you would definitely lose up money on that case.

Better to do spot trades on very small capital and try to grasp things up until you do able to know the basics.There are lots of tools that you can use and there are lots of analysis and strategies that you can

look from other trader but don't fully rely on it because not all things that do works on them works for you.So this would matter on how you do make your own as long it would be profitable

then you are doing just fine.

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September 17, 2020, 10:14:01 PM
 #100

absolutely true what other user said about leverage derivative and future.
this is not trading but it's just gambling. and in the long term you're going to lose your money.
use a demo account to learn more about functions of a trading site. it's always better than start directly with cash.

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