[Tips] Before Trade

[Luzin]

The trading world is very fast and very risky. If you are a beginner then we have to keep learning and if you are a trader maybe experience it will be easier because you have mastered a technique. For someone new like me to position a trade where to buy and sell exactly is very difficult. Need a mastery of fundamental technicalities and emotions.
Of the three, some of my experiences and reading in this forum the most difficult technique is emotions control. This also happened to me, therefore we must know what we must do in a market trend. In trading we recognize three trends of Bullish, Bearish, and Sideways. In all these trends we must be able to manage what steps we are doing right. This is used as a way to reduce / avoid losses.
 
Here are the steps you need to take before trading

Source: https://medium.com/cryptoaddicts/infographic-when-should-you-buy-and-sell-your-coins-1ac00a238e26

1. If Bullish trend, is the price at support? if yes then please buy , if no don't trade
2. If Sideways Trend  you have to be patient waiting for the Breakout
3. If Bearish Trend is the price at resistance if it sells below resistance if you buy at a high price
Those are just a few techniques that I got, but maybe this is different from Future trading because Bearish and Bullish can be used for profit. If I misunderstood the picture please correct it, I am very grateful.

[1714487628]

1714487628

[1714487628]

1714487628

[Igebotz]

Why are you having double references? those links are the same remove one. Most of the time writing is easier than the actual work itself. I've seen several posts on trading but there is more to trading than what you just outlined, you need an experienced trader to walk you through if you depends on what you read online you are mostly going to lose your assets.

Trading Discussion board is best for your topic

[hd49728]

Bitcoin Support and Resistance for dummies

Supports and resistances are temporary and they can be broken or flipped each other at different times in the market. You can not believe in support and bet all your capital on support, your capital will be stolen when support is flipped and become a new resistance.

For breakout, yeah, past resistance will become a new support.

It is a good reason to think of the stop-limit orders and stop-loss orders. The stop limit orders should be placed above the support price. And the stop-loss order after is triggered by the stop limit order will be placed within a very minor above support or below support price.

[cryptoaddictchie]

This is a good overview actually. However understanding support and resistance sometime really gave us headache, cause there are instances or let just say that this technique is overcome by an abnormal movement like what others said when sometime it got flipped more instead. I also take cautious when dealing with these parameters but this guide is here for a reason sometime it worth and effective but we can't totally rely alone with this.

[janggernaut]

If you are still a beginner on trade, don't trade or you will lose your money. Trade has high risk to lose your money so i wouldn't advice it for beginner. Just hodl your bitcoin if you are stil beginner on crypto.

P.S trade is much more complicated than hodl

[Husna QA]

If you are still a beginner on trade, don't trade or you will lose your money. Trade has high risk to lose your money so i wouldn't advice it for beginner. Just hodl your bitcoin if you are stil beginner on crypto. -snip-

Isn't a professional trader starting from a beginner trader? Because without training how he will hone his analytical skills in trading.
Beginner traders may be able to practice their trading skills first on the Testnet network, such as https://testnet.binancefuture.com/en/futures/BTCUSDT, using a demo account before moving on to real trading.

[janggernaut]

Isn't a professional trader starting from a beginner trader? Because without training how he will hone his analytical skills in trading.
Beginner traders may be able to practice their trading skills first on the Testnet network, such as https://testnet.binancefuture.com/en/futures/BTCUSDT, using a demo account before moving on to real trading.

Trade using demo account and real account with real money is very different. You can't say while you have "mastered" in demo account, you can trade using real money. Your guts is not same. Learning trade by using demo account isn't going help you anyway while you entered with real account

[hd49728]

Trade using demo account and real account with real money is very different. You can't say while you have "mastered" in demo account, you can trade using real money. Your guts is not same. Learning trade by using demo account isn't going help you anyway while you entered with real account

It is not bad to use demo account to trade and experience if you are crypto newbie. I agree with you that demo and real trades are different and with real trades, small and big capital are different. With small capital, you can easily enter and exit the market with most of coins and pairs. With big capital, you have to choose coins and pairs with big volume or have to allocate your big capital to a few coins and pairs.

Big capital can cause bigger stress if you are trading and get temp loss.

[carter34]

If you are still a beginner on trade, don't trade or you will lose your money. Trade has high risk to lose your money so i wouldn't advice it for beginner. Just hodl your bitcoin if you are stil beginner on crypto.

P.S trade is much more complicated than hodl

There is risk in every part of life. It is better to start trying and learning new things. The focus should be if the newbie has passion for it because it is what helps in different kinds of business. At one point, every new person in a new business, is a newbie and every business has risk. Knowing how to manage is the first thing to need.

[Luzin]

~snip~ Why are you having double references? those links are the same remove one.
Trading Discussion board is best for your topic ~snip~

Ok I attach only one. Thank you. For the board? do i have to move this? If you look at the tread reference provided by hd49728 it should still work on this board,  it looks like it's also a trading topic.

It is a good reason to think of the stop-limit orders and stop-loss orders. The stop limit orders should be placed above the support price. And the stop-loss order after is triggered by the stop limit order will be placed within a very minor above support or below support price.

You're right, we have to use the stop limit, but it's a shame if I'm not mistaken not all exchanges have that feature.

This is a good overview actually. However understanding support and resistance sometime really gave us headache,

Yes this is a matter of technical analysis, and I'm not an expert on lines to determine support and resistance, lots of cross lines which are sometimes confusing.

[Husna QA]

Trade using demo account and real account with real money is very different. You can't say while you have "mastered" in demo account, you can trade using real money. Your guts is not same. Learning trade by using demo account isn't going help you anyway while you entered with real account

Yes, I know; of course, trading using a demo account will be different from trading using a real account. And I'm also not saying that if you have become a master on a demo account, you will become a master on a real account. It's just practice before actually using a real account. What should be noted is that all types of trading in cryptocurrency are high-risk trades. Therefore it is necessary to study risk management as well.