5 Tips for Trading from Beginner, For Beginners.

[ImThour]

5 Tips for Trading from a Beginner, For Beginners.

1. Check market sentiment
2. Set loss/profit (really important)
3. No emotions, only believe in your analysis.
4. Do not click any button yourself, a trade should over with a stop loss or take profit.
5. Never 100% on one trade, 20% amount with x3.

This is what I learnt in my 30 days of trading and so far, I am doing really good.
If any of you have some tips for me aswell, go ahead. 

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[1714952836]

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[crwth]

Congrats on getting your trading started. A lot of people have taken this road and only a few are successful because of the trading disciplines that a person has.

BTW, do you have your performance recorded? With your current PNL ratio? It's a great tip to remember what you have done correctly and what didn't.

[ImThour]

Congrats on getting your trading started. A lot of people have taken this road and only a few are successful because of the trading disciplines that a person has.

BTW, do you have your performance recorded? With your current PNL ratio? It's a great tip to remember what you have done correctly and what didn't.

Thank you, crwth.

My Performance Record:

[crwth]

Wow. Not bad. As long as your result is positive, why not?

Do you have the actual trades that you have done? Like putting it in excel? I suggested this because this will help you remember what you did correctly and what you have lacked in your losing trades.

Anyway, I hope you continue to profit with this market.

[so98nn]

That is good trading strategy. I hope you also count in the formula of "Diversification". Never trade on single coin or commodity because doing so can put the investment at risk even if we have turned on the stop loss buttons. I mean though it would be marginal loss, but it will be "confirmed" loss if that specific coin is not doing great while you are trading it.

It's really great to see you are keeping the record of your trading profits and losses. Many times user do not track this and stays in "virtual" thoughts that he is in profits all the time just by looking at the green side of portfolio.

Also, for the long term trade, stop loss isn't necessary but it's always recommended.

Keep it up and you will the wealth rolling upwards all the time. 

[MIner1448]

I am also a beginner and my huge mistake is to be exposed to emotions and a great desire to fight back when you go into negative territory, but with such notions you fall even deeper into the bottom.
It is also a huge minus to trade on futures with a leverage of more than x7, for a beginner, the maximum leverage should be x3, no more, in rare cases, x5.

[aysg76]

Here are some of my addition to the list you have made :

6) Always invest what you afford to loose and don't stake your personal assets for crypto trading.

7) Before investing learn how the market works and have your research done for all the facts that could affect the price of your coins.

8)If price volatility makes your nervous sorry you are in the wrong place as here market could be 70-80% down and still holders have faith unlike your stock market.

9)The market is also full with shitcoins that you need to avoid and for that you must be aware and have knowledge of the market.

10) Always keep learning and gain experience and don't panic with loss

Rest best wishes to you man.

[Vaculin]

It is encouraging when you are seeing positive results from your hard work. We can tell ourselves that we did a good job and continue doing this. But knowing that not all the time we are in profit as the market keep changing, however, having some fate on ourselves could help it out.

And aside from that, we need to urge ourselves to keep studying the market trend and don't just be contented with what we got. Because continuous learning is very important in this field as this helps for better results.

[Tim-BTC]

2. Set loss/profit (really important)

I want to know what percentage of the profit and loss you set.

[palle11]

5 Tips for Trading from a Beginner, For Beginners.

4. Do not click any button yourself, a trade should over with a stop loss or take profit.

Haha watch this point, very important. How can you say no clicking of button especially when you want to exit. With your 30 days experience which is still very young, you will get to understand your strategy better and see that at some point you need to exit or "run away" from an ongoing order that you sure was a wrong step you have taken. At those wrong orders, you don't need to wait until it hits your SL, the professional thing to do is to use your button, exiting the market when you think your SL will be hit is better than allowing a total loss.

[Kittygalore]

Thanks for the tips, I do employ some of them in my practice trading although I am having a hard time doing number 3 because I am an emotional person although it hasn't interfere that much with my practice trading although I don't I would benefit if I learn how to master my emotions right now that there's no money lost yet.

[gabbie2010]

5 Tips for Trading from a Beginner, For Beginners.

1. Check market sentiment
2. Set loss/profit (really important)
3. No emotions, only believe in your analysis.
4. Do not click any button yourself, a trade should over with a stop loss or take profit.
5. Never 100% on one trade, 20% amount with x3.

This is what I learnt in my 30 days of trading and so far, I am doing really good.
If any of you have some tips for me aswell, go ahead. 

Point 1. I completely agreed with you on that point, market sentiment will surely minimize losses, in a bearish sentiment always short trades especially in a trending market to be on a safer side this is also applicable in bullish sentiment.
I alway ensured that I placed a stop loss based on the amount of money I can afford to lose per trade while aiming for high profit and strictly followed my analysis from a higher timeframe to a lower time timeframe where I place my trade
My emotion is always checked without any sentiment or fear once I am convinced on a trade I click on buy or sell.

[Mpamaegbu]

5 Tips for Trading from a Beginner, For Beginners.

1. Check market sentiment
2. Set loss/profit (really important)
3. No emotions, only believe in your analysis.
4. Do not click any button yourself, a trade should over with a stop loss or take profit.
5. Never 100% on one trade, 20% amount with x3.

Let me score the above in tandem with what I believe...

1. ✔️
2. ✔️
3. ✔️
4.  ❌
5. ✔️

Number 4 is the only one I totally disagree with. You don't have to watch your stoploss hit once you observe the fastness of the drop as it breaks whatever support you've in check for it. Just cut your loss and run. After all, it's said that "He who fights and runs away, lives to fight another day. However, your 30—day experience isn't whollistic enough to come to conclusion that those things you listed are the surest focal points in trading. There are a whole lot of others which are also as subjective as those listed above.

[TelolettOm]

Actually, there may be still some other strategies to be implemented for trading. But actually, those five are very common and to be done for us.
Other things may be about utilizing the news and also certain events going to be held by certain crypto. Sometimes, an important agenda or event with good news will also influence the coin price rate. So, we can utilize this to get another profit.
And of course, the basic thing for beginners is:
never only follow other people's strategy, coin choices, and also techniques. because everybody may have different styles. And following hype is also something not good as a beginning.

[RealMalatesta]

1. Check market sentiment
2. Set loss/profit (really important)
3. No emotions, only believe in your analysis.
4. Do not click any button yourself, a trade should over with a stop loss or take profit.
5. Never 100% on one trade, 20% amount with x3.

This is what I learnt in my 30 days of trading and so far, I am doing really good.

That’s very good, and you’re doing it the right way. Some newbies would usually make the mistake number five you have mentioned; doing a hundred percent on one trade. Twenty percent (20%) is good, you can as well go below that number to like 5%, and 10%.And then stop loss is very important.

Even after you have decided to trade with a small amount of your trading money, you also have to be careful with that small amount not to lose, that’s where you apply your risk management strategies so that you also don’t lose hundred percent that small amount if the market should go against you. And I also tell newbies that when your trade goes wrong constantly, then it’s time you take a break and re-learn what you have learnt, and look for ways that you’re doing it wrong.

[BIN-BIN]

Nice every trader needs to have this principal knowledge you have learned well in 30 days but it is important to keep on learning as you trade, keep learning more trading techniques even your daily trading activities are also your learning tools.

[The Cryptovator]

Good to hear OP you succeed this way. Suggestions are very well and we know that. But when luck does not favor then it's quite complicated to follow and that's how we lose in trading. Especially for me, it's hard to make a profit from trading. When I am not in the trading market play well as my assumptions. But when start trading then the market goes against my assumptions. That's a big deal for me and I am failed to manage that. That's why someone's I just stay away from trading. My overall portfolio is 10X down (approx). It's hard to accept, but still struggling, hope some days I could control my emotions.

[teosanru]

5. Never 100% on one trade, 20% amount with x3.

This is what I learnt in my 30 days of trading and so far, I am doing really good.
If any of you have some tips for me aswell, go ahead. 

Don't put a percentage of portfolio for the weightage of trade. Instead, follow the risk-weighted method. This means that you put a caping for your risk per trade. For example you decide to risk 3% of your portfolio per trade let's say the portfolio is 1000$ and the risk per trade will be $30. Now you know your stop loss so calculate how many units of that crypto you can purchase. This way you can go up to any leverage because eventually, you will lose only a fixed amount up to your stop loss. But yes make sure the liquidation point is slightly far away from the stop-loss point.

[batang_bitcoin]

Well done. You should also add that don't try as quick as they can leveraging. It's one of the riskiest trade that they can ever do. If they are planning to do that.
They should at least do more research how they can trade through it because they're likely to lose more than to earn without knowing it wholly.

[maxreish]

Its good to read some advices in trading even if Im not a newbie on that field. As I am forgetting some of those like managing emotions, hastily clicking when market goes on the opposite way to my trade.

Beginners should always remember those things as we tend to forget those reminders. A certain stop loss is very significant in every trade and also setting profit goal is indeed important, too.