Newbie traders - Learn from my mistakes

[AakZaki]

I believe that not all people are suitable for trading. You have to have a certain set of skills in order to trade successfully. First and foremost, this is patience and strong psychology, and also a fixed plan of what you will do if the market changes one way or another

not all are suitable for trading because those who are not do not want to learn how to trade properly. The shortcut if you don't want to make trades can use the Hold strategy. Buy cheap and hold then sell at a high price for a long time. Trading inevitably has to be mastered and learned. Although patience and psychology are also important, which is the main advice to learn technical analysis and fundamentals, that's the main thing.

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[CryptopreneurBrainboss]

First and foremost, this is patience and strong psychology, and also a fixed plan of what you will do if the market changes one way or another

While staying disciplined to your strategy and plan is very important to become successful at trading, you should also have to be able to adjust to the market at every condition. Be very adaptable because the sentiment of the market can change at anytime, the bull or bear market can start at any moment, you been able to identify this trend and adjust your trade to stay on the winning side is very vital and not that easy to execute as you may think.

The market trend change could be a false alarm as the whales could be manipulating the market or a fake rumors must have caused panic. To become a successful trader you must be willing and have the ability to learn from mistakes and what better way to do so then learning from mistakes of others, you don't have to wait to make that mistakes yourself, it might cause you and affect your physiology if you do.

[jostorres]

All pointers and good suggestions are useless to a totally newbie in trades. They won't understand those suggestions as they don't experience the actual environment of being trade.

Not really, as a newbie it is good to know from the experienced community things like how to avoid panic and FUD. Yes things like analysis and reading charts, candles, etc. will come with time and experience but basics can be learnt from reading content and knowing other's experiences.

I am part of many crypto groups on telegram and I often come across individuals complaining about getting scammed in ICOs and fake projects. As much bad I feel for them, I feel like its important to face those loses and learn their lesson the hard way. I tried to tell a guy who seemed new to ICOs that almost all of them are scam and he ignored me, not sure if he got scammed later, so people who are not ready to listen have to learn it the hard way.

[tvplus006]

Everyone start in trading as newbie but it doesn't mean that you don't have knowledge in trading because I know before you will enter in trading you  know about it even slightly. Honestly when I try to trade, I don't have any idea or enough knowledge what to do in trading as a newbie. So, while I'm in trading platform I learn step by step about it, of course at first , you can't avoid to have losses but from your mistake and little experience you will get knowledge.

As a rule, the loss of their deposit forces people to start learning the basics of trading. Some people lose their deposit several times before they start trading with a profit. The main thing is to understand the reason why your trade brings loss and disappointment, and after identifying such a reason, you should avoid its repetition.

[wxa7115]

Newbie traders, that sounds a bit somehow to me anyway, and I still don't know what a newbie doing with trading. At that level he or she should be learning one or two things on how the market is been run. Why do you want to start trading anyways? Hope it is not because of the money in it? If that's your primary purpose you have to put a stop to it first and go and learn what you are supposed to know first. Else, you are heading for a biggest mistake that is going to cost you so much. After you have learnt one or two things, then you can start to trade bit by bit. And learn from your mistake per time.

It is known that those that have a legitimate interest in the activity they are pursuing perform at a greater level than those that only care about the things they can get out of the activity.

If you only care about trading in terms of what you can get out of it most likely you are never going to become really good at it and you will lose money, only those that actually have curiosity about the markets and how they work and are marvelled by its movements have a real chance to become successful, as they will dedicate enormous amounts of time not only to figure out how to make money in the markets they will also dedicate a huge amount of time just to understand the markets better even if this does not benefit them economically in an obvious way.

[tygeade]

Videos are really helpful when it comes to learning because you will be seeing everything you want to learn being played out on your screen and it is more easy to understand than when you’re just reading an articles that talks about the same topic.

Secondly, learning technical analysis and everything about trading is a normal thing that newbie traders should do, although a lot of people find it hard to take the time and start learning all these things, I can’t tell why, maybe because they are being lazy or something. What they do most times is that they just learn a little thing about trading and then they start thinking that they experts already.

[Kittygalore]

Videos are really helpful when it comes to learning because you will be seeing everything you want to learn being played out on your screen and it is more easy to understand than when you’re just reading an articles that talks about the same topic.

Be careful choosing the videos though as the helpful ones are really rare and you have to sift through all the clickbait videos in order to find the good videos. Choose only a few channels and content creators to learn from because if you were to not do that, you will only end up with a lot of conflicting ideas that will be a detrimental factor for your decisions when you are trading. OP is a good person, telling everyone about the mistakes that he/she has done so as to help other people from not making the same mistake.

[JooBra]

Videos are really helpful when it comes to learning because you will be seeing everything you want to learn being played out on your screen and it is more easy to understand than when you’re just reading an articles that talks about the same topic.

Be careful choosing the videos though as the helpful ones are really rare and you have to sift through all the clickbait videos in order to find the good videos. Choose only a few channels and content creators to learn from because if you were to not do that, you will only end up with a lot of conflicting ideas that will be a detrimental factor for your decisions when you are trading. OP is a good person, telling everyone about the mistakes that he/she has done so as to help other people from not making the same mistake.

Most of the channels are creating clickbait headlines but there is always something to learn. For technical analysis you can learn how is all playing out. A lot of time is needed to get hang of it since a lot of stuff usually plays out in cycles.

[Sterbens]

Doing trading can really be done by everybody but we cant really deny the fact that there are people which arent effective in terms of trading even though they
had been trading in the market for a while now.Just like my friend which is trader but eventually quit after 2 years of doing trades still end up on a loss.
Not all things would really goes well into an individual so this will really be varying on someones persistence on what he had been engaging.

and what is more ideal is that everyone has their own function and performance, from the experience of our friends, we learn that what we can do cannot be done by others, and conversely what others can do is not necessarily what we can do. . even if it could be done, it wouldn't be the same as the former.
In trading, we are never much different, we are just endowed with mental and thoughtful patience whenever we face a situation that passes, whether it is in ruins or is on the rise. there is only one thing that makes a person survive, that is, to love what he does, without being accompanied by compulsion.

[isaac_clarke22]

~

I'll emphasize this a lot.
I've had rough experience in jumping to day trading too quickly just because many claimed that "it is fastest way to earn", because technically you're trading actively throughout the day.
I haven't experienced doing margin trading just yet, but I know it is another strategy. I know it would be a rougher experience for me back then and I might considered dropping crypto that day.

[doctor877]

crpto is not a child play especially for new members. i dont see a reason why a newbie without any knowledge will jump in and start taking trades. there is always a volatility disclaimer on crytpto trading. try to always learn in anything, learn and apply then you become powerful.

[Fatunad]

crpto is not a child play especially for new members. i dont see a reason why a newbie without any knowledge will jump in and start taking trades. there is always a volatility disclaimer on crytpto trading. try to always learn in anything, learn and apply then you become powerful.

Everyone do start on being a noob this is why its somewhat expected for those kind of behavior for a noob to do such thing but sooner or later he would really be realizing that things should really be dealt up seriously if he do like to survive into this market.This isnt indeed a childsplay because you are risking out your money which means you need to be serious on prolonging yourself or survive on the market.
Learn from your mistakes because you wont really be making yourself better if you dont really learn into those things that you had experienced.
Try to hone up your skills and knowledge as you do trade up with the market, this might not be an easy journey but somewhat can really be able to handled out.

[Hilde Maa]

hello
i have about 80 dollar in btc better to keep? for being little what I have it would be better another coin?

[CryptopreneurBrainboss]

Be careful choosing the videos though as the helpful ones are really rare and you have to sift through all the clickbait videos in order to find the good videos. Choose only a few channels and content creators to learn from because if you were to not do that, you will only end up with a lot of conflicting ideas that will be a detrimental factor for your decisions when you are trading.

Exactly, hardly before you'll see any youtubers these days doing the videos for the love of educating or informing fellow enthusiast instead they do the videos to shill certain project or as a means of advertisment. 99% of the videos are been monetized which has a clear signs we should be very cautious about the information and strategy we let come in our mind before it poisoned it.

Youtuber are the easiest to confused/mislead the newbies since they communicate visually which create some sort of trust. Identifying the shillers from the actual educators are very simply. The shillers only cares about the profit so their video will be focus more on how they can get you in, on the plan so they get paid but the educators gives you the information and leave you to make your decision without putting any pressure on you

[Yatsan]

We do really learn from the mistakes we have taken from the past and that what makes us the better version of ourselves to prevent making the same mistakes we have before. When it comes to trading, every beginner even the old timers do still commit mistakes which leaves a great lesson to seek for improvement so that once when the same thing happens once again is that we can already have ways or solution to resolve such hindrance in our way. It is just fine to commit mistakes as long as you learn from it and you are making a way not to do the same thing all over again. Be mindful of the decisions you make for it can affect and have an impact on the sake or condition of your trades. Be wise enough so you can execute better solutions to save up your funds.

[Cling18]

Trading is a long process of learning. It actually never stops and the more experiences that we have, the more we learn here. It's really important that we'll have the eagerness to learn and adopt new knowledge each day. Knowing how to read the movement of the market and having enough knowledge about technical analysis is a big edge because we can't rely everything on trading gurus. However, committing mistakes is a part of the growth here in crypto world but being wise could still lower the risk of losing.

[manu3003]

Trading here in cryptocurrency is not an easy things. It really needs skills, knowledge, and understanding.
And there are several traders even the experts made a wrong move or mistakes too in trading activity.
and most of the mistakes they've made in the end they learned from it of course.

Will you sell me a BTC? :/

[SquallLeonhart]

I've had rough experience in jumping to day trading too quickly just because many claimed that "it is fastest way to earn", because technically you're trading actively throughout the day.
I haven't experienced doing margin trading just yet, but I know it is another strategy. I know it would be a rougher experience for me back then and I might considered dropping crypto that day.

They were sort of right, and they were very wrong as well. Day trading, especially in high leverage places could be world's biggest profiting place, binance has huge volume in their high leverage trading as well which means you could make tens of millions of dollars profit there and the volume could cover that too. How? If you are an experienced and awesome trader that keeps making huge profits along the way constantly, that would mean that you could profit, however one thing is a bit of a problem; if you are not someone like that it is not a profitable thing.

So, when a great experienced trader tell you that day trading and even high leverages are way to go because they make so much profit that way, they are right because they do make money like that, but they are very wrong because you can't make money like that as a newbie in trading world.

[Maslate]

No one has a good start in trading, no one directly got what he/she wants to achieve,  and for sure, all traders have suffered (many) losses before they find where they become wrong. Because honestly, mistakes can't be avoided nor we can escape from them. But the good thing is that we are able to correct our mistakes and prove to ourselves that we can survive all of these challenges.

Trading is not an easy job, unlike the others think, and this why many traders had failed because in the sense that they never know what they are doing.

[Sterbens]

hello
i have about 80 dollar in btc better to keep? for being little what I have it would be better another coin?

 your decision is already a good one. You don't have to split that $ 80 with any altcoins. because from btc profittalble it is clear. you just hold or sell it, it will still give you a good profit. Instead of giving the entire portfolio to altcoins that you are not necessarily sure of the future benefits. while bitcoin will not discourage you.