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Author Topic: What should I study to learn how to trade?  (Read 1566 times)
Ryker1
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November 15, 2020, 08:50:03 PM
 #21

Can someone point me to where I should begin?
And one more question: What is the minimum amount of money needed to start?
I think the first question should be in what way you feel more comfortable learning? Do you need a teacher? Can you learn from YouTube videos? Or can you learn from books? While technically you can learn from all of those sources each one of us has a preferred method of learning, find the one that you like the most and try to find sources that are reliable from which you can learn. About your second question again that depends entirely on what are your goals, if right now your only goal is to learn then a few hundred dollars is more than enough, but if you really want to earn a lot of money then you are probably going to need years of savings.
Well, that is right, you can find and learn on the internet if you want to learn in trading.
Learning in trading is not just an easy way if you are looking on the internet, you should also understand how it will be worked and how should be gained profit and taking the risk that they had. Because for me, trading where a start to risk money in the future and we should know how to overcome a situation like this.









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November 15, 2020, 10:31:57 PM
 #22

Learn from the basics. Upon trying to start learning how to trade or anything about trading, you must first get yourself familiar on the cryptocurrencies that are existent within the market upon the time you are trying to learn about it. Observe the market using the price chart where you can see how the prices changes overtime, the volume and demand and other aspects needed for you to certainly be familiar with such cryptocurrency. Next is learning how to trade. You can enroll yourself into trading lessons that can be found online or ask someone you are very well-known about how you can effectively do trading.

The next thing, upon doing trading, the budget or funds upon starting is up to you. You do not certainly need a huge amount of money upon starting. Just make use of what you can afford to give out.

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November 15, 2020, 11:36:52 PM
Last edit: November 17, 2020, 12:11:46 AM by Danslip
 #23

There are more than thousands of sources for learning the basics but I suggest reading the babypips website books which cover all trading materials with funny pictures. You can look through the different threads on the forum as an additional source but don't try to learn from fake rich traders on YouTube or other streaming sites.  Learning through the YouTube platform will not make anyone a professional trader because the incorrect information can be the reason why traders tend to lose often.

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November 16, 2020, 02:34:07 AM
 #24

Can someone point me to where I should begin?
Best to understand your emotions first, check if what kind of personality you have as trading mostly speculative, knowing how good you understand and how willing you are in taking more deeper while risk as always accompanying each position that you are taking, different kind of emotions needs to controlled correctly, most of the time aggressions brings traders to big losses.


Quote
And one more question: What is the minimum amount of money needed to start?
Always secure your finances, trading is not a one click success formula, most of the time newbies lose their money quicker than what they've expect, failed to understand the market movements, it will kill you if you mismamange your stating capital, best to begin with small investment and try to learn every fundamentals that you need to survive and success from this venue of investment.


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November 16, 2020, 03:13:17 AM
 #25

The truth is there are now many information uploaded in internet so you can learn without buying books or some thesis in the marketplace. If you are a beginner I prefer you to study basic fundamental and technical analysis. Those two types of analysis can help you to have an idea on where the price may go by reading the chart and its price action and also the financial statement of a certain project.

If you will now make investment, I think it is better if you will start with low amount of money first maybe $50-$100. That account will be a trial account that can help you to understand and be familiarize how the market reacts in everyday. I do not suggest investing huge amount money on your first investment like $500 or more because there is possibility that you can lose it all.

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November 16, 2020, 04:57:13 AM
 #26

For you to really understand trade very well in the market just try be focus on price rising and falling in the market,it will make you to know when to trade and when not to trade in that season. Anytime you want to buy just try buy when the price is low in the market so that it will cause you a big profit when ever you want to sell in the market. Anytime you wish to sell just try to sell when the price is high in the market, it will help you to earn more income in your trade.

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November 16, 2020, 05:08:50 AM
 #27

For you to really understand trade very well in the market just try be focus on price rising and falling in the market,it will make you to know when to trade and when not to trade in that season. Anytime you want to buy just try buy when the price is low in the market so that it will cause you a big profit when ever you want to sell in the market. Anytime you wish to sell just try to sell when the price is high in the market, it will help you to earn more income in your trade.

If he can do that, I guess that his feeling will play a role in determining the time to buy and sell to guide him to have analysis and predict where the trend will go. But he should buy when the price is low and sell when the price increases and don't try to greedy to take the profit because that will not always work.

The market price will always up and down following the trend, so we need to be careful to buy and sell. Otherwise, you will make it wrong to buy and sell, and you will miss the chance to buy low and sell high.
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November 16, 2020, 05:44:43 AM
 #28

For you to really understand trade very well in the market just try be focus on price rising and falling in the market,it will make you to know when to trade and when not to trade in that season. Anytime you want to buy just try buy when the price is low in the market so that it will cause you a big profit when ever you want to sell in the market. Anytime you wish to sell just try to sell when the price is high in the market, it will help you to earn more income in your trade.
If he can do that, I guess that his feeling will play a role in determining the time to buy and sell to guide him to have analysis and predict where the trend will go. But he should buy when the price is low and sell when the price increases and don't try to greedy to take the profit because that will not always work.

The market price will always up and down following the trend, so we need to be careful to buy and sell. Otherwise, you will make it wrong to buy and sell, and you will miss the chance to buy low and sell high.
In essence, we have to see what trends are happening sometimes it can also affect the price up and down, but if we are smart in choosing and right when buying and selling, whether when it is down we have to buy a lot or only a little because if we are wrong in the analysis then will put us at risk sometimes when the price goes down even further.

In this way, buying when it goes down, selling when it's high is also commonplace, but how we can analyze and trend when to enter the crypto market is what makes it more difficult for us to understand it.

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November 16, 2020, 06:20:56 AM
 #29

The best way is to get some account some where, where there are no trading min limits and deposit $100 and take live trades like that. If you are in USA you can use Robinhood and you can buy and sell stocks, crypto with that also and they also have very small min. deposits.

Reason why I don't want you to trade demo is because with demo there is no emotions. With demo you will not take the same risks as you would with a real live account. So whether you are trading with $100 or $10000, there will always be some emotion there and you will learn that trading is not as easy as it might look.

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November 16, 2020, 08:26:27 AM
 #30

Can someone point me to where I should begin?
 And one more question: What is the minimum amount of money needed to start?
 

 Since you are new in trading, try to learn the difference between the fundamental analysis vs technical analysis. This will gonna help you in your first trading experience. The moment you will learn about reading indicators, you should at least try by doing some long term trading rather than short term or daily trading.
 
 And if you are asking about the minimum money needed, just have a fund that you can afford to lose and get ready with all the risks when doing these. There are minimum deposit amount of fund in some exchanges for you to be able to proceed. Read, learn and incorporate.
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November 16, 2020, 08:33:40 AM
 #31

Can someone point me to where I should begin?
And one more question: What is the minimum amount of money needed to start?
You should start from the base of buying low and selling high. This needs to be done with the top list altcoins having low price at the beginning. Every exchange have got their own minimum limits. At the beginning you need to focus on very small profit, which means you need to buy low and sell when there is small growth in the price. Maybe the profit will be very small, but through this only can learn better about trading.
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November 16, 2020, 09:18:00 AM
 #32

Just like what @ GreatArkansas said, don't get excited but to start the basics. You'll no need to hurry and definitely, don't think about instant success in trading because it is not the way should be. People who are in the stage of curiosity will be the person that usually gets success and if you have some knowledge in stock market trading could be beneficial to you as it also somewhat the same in crypto trading. But, don't be confident enough, the risk in crypto is quite different that you will see in a less volatile market. Act smartly and think wisely, a ticket for your success, and the last thing is that, "Don't Stop Learning".

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November 16, 2020, 10:01:04 AM
 #33

Now it is very easy to learn to trade, because the internet makes it easier for us to get the information we want. Including information
about trading, I suggest you read the basic rules of trading. So you can start trading safely, try searching in this forum for tips related
to trading. Or you can watch trading tutorials on the YouTube platform, there is no limit to the minimum amount of money to start trading.
Because trading capital depends on the financial capabilities we have, everyone has different financial abilities, so everyone has a different
minimum amount of money too, then only you know how much capital to start trading.

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November 16, 2020, 01:31:19 PM
 #34

everyone has their own way of trading, if I mention maybe only a few, by following the flow of trading experts,
following an indicator such as RSI or MACD (who understands will understand),
and of course use MA indicator and SMA is definitely used a lot too, that is how people trade,
learn and learn from the mistakes, you can success with that

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November 16, 2020, 02:13:21 PM
 #35

Can someone point me to where I should begin?
And one more question: What is the minimum amount of money needed to start?

First you should specify what your goal is, what kind of a trader do you want to be? and are you going to do it full time or it's just a part time thing?

Good thing is that in most cases and specially in trading you have all the needed information ready online if you're just thinking about doing trading as a part time job, but if you're one of those people that are counting on trading as a real full time job then I'd suggest you to start reading some books about technical analysis first before going into any articles and guides, one book that I can recommend is "Technical Analysis of the Financial Markets" by John Murphy which is a great book and very easy to understand even for beginners, and it goes without saying that reading these books just one time is not going to be enough.
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November 16, 2020, 02:33:29 PM
 #36

Can someone point me to where I should begin?
And one more question: What is the minimum amount of money needed to start?
There are no big deals around this trading, in a simple lay-man language; buy low and sell high, but sincerely the trading industry is far more just that simple lines. Beginning your learning skills or trading skills from YouTube channels or from trading view software which is available online for free. These softwares actually helped my humble self about trade and for now am good in trading like a semi-pro. No minimum amount for trading in my point of view becasue something from $10 to $100 is very much okay for me indeed.

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November 16, 2020, 03:33:40 PM
 #37

First you have to do is access the exchange and for the amount of money that is required I think it depends but, $70-$100 for a start is fine too but with careful consideration, that means you also have to be prepared with the risks. It's useless for you to learn trading if you haven't even accessed an existing exchange site, because by accessing the exchange site you will at least learn everything, such as the fees that will make you have a good calculation in preparing money for trading, and besides that you will know the movements that occurred from history and also the charts that are there.

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November 16, 2020, 04:08:22 PM
 #38

The minimum capital depends on the platform policy you are using. then the knowledge that you can find yourself from various sources. What I emphasize is that you have to have a realistic attitude, that is, don't expect to make big profits overnight. You must be disciplined in trading, always consistent with the size of the income you get, you must be grateful. the most important thing is patience and consistency.

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November 16, 2020, 04:19:59 PM
 #39

For you to really understand trade very well in the market just try be focus on price rising and falling in the market,it will make you to know when to trade and when not to trade in that season. Anytime you want to buy just try buy when the price is low in the market so that it will cause you a big profit when ever you want to sell in the market. Anytime you wish to sell just try to sell when the price is high in the market, it will help you to earn more income in your trade.
Complete basic idea in trading, however reality is totally different what we read. The things could be work out or could be act reverse. Beware of, only risk what you are willing to lose. Mate your investment could also be worth half its value nobody really knows. Tried learning to trade then you might know whether you're comfortable or not. It takes time. You can't be successfully master a skill in a month, right?
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November 16, 2020, 04:30:21 PM
 #40

You may learn more about trading with the help of this forum and you may do some more, you may watch some youtube tutorial, there are already many crypto tutorials or skills that you may watch. You may also ask on Reddit which takes only 2-3 hours before you receive an answer. You may also apply to some courses in Udemy, it will help you a lot.

Trading is only buy in low and sell in high, that is the basic rule of trading but that is not only enough, but I also am not an expert trading so I cannot help you with some other useful things, try to check it with what I mentioned above.

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