Things to know before trading.

[perfect999]

Find a strategy that works for you: If you are dedicated and forced to put in the effort, you will undoubtedly find a strategy that works for you. There are a variety of strategies available for you to try out.

I don't think there is any place to find which strategy works for you and which doesn't. You need to trade continuously and with time you realize what's working.

I have seen so many threads in this section that are focused on finding a working strategy. People need to understand that no single strategy can work for everyone because everyone is unique in the way they trade, take risks and handle losses. Traders with high risk-taking ability will rather fancy their chances in the altcoins market.

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[zahed]

Thanks for share some guidelines specially newbies can learn in these your four strategies. Trading seems not gamble so those who consider with gamble, point two and three is important key for new commer traders. Newbies mistakes in strategies so there always loss.

[Hypnosis00]

Learn first how to read chart. I remember I bought 3 ETH for 30usd.. I sold it all when ETH reached 20usd.
One of my biggest mistake as a newbie

This is the biggest mistakes of every newbie, they are too greedy and they always forget to analyze before invest simply because they are too dependent and they trust trading signal that much. There’s a lot of things to learn first about trading, it can’t happen within a day so always have your patience and trade with your analysis.

It is somewhat to know that trading was not for impatient people, in fact, I was experiencing this kind of action as I badly think that it drops more but suddenly the pumps just come after selling, it is really regretting. This simply means that we can't make a good trade if our emotions drive us and this is the most common scenario that happened to the newbies.

However, if we are willing to change this kind of mindset and learn those wrong decisions, we certainly make it right. It sometimes happens ( or was common) to experience losses first just to know where we are wrong and that is what we need to find and correct.

[Slow death]

trading is not easy, the person needs to spend hours on the computer and at the end of the day the results can be unpleasant and the person cannot give up the next day because it is the only way to make the money multiply and the person make a profit, and even when a person trades for the long term, there are ups and downs that make the person want to give up, but when the person thinks he has to continue because this money is at stake, the person looks for willpower. trading can sometimes be a big headache

However, if we are willing to change this kind of mindset and learn those wrong decisions, we certainly make it right. It sometimes happens ( or was common) to experience losses first just to know where we are wrong and that is what we need to find and correct.

I agree, but it is not easy to accept losses and continue anyway until correcting where we went wrong, sometimes it can take time to get it right and in this period of time between mistakes, the person is very sad because he is seeing the failure every day

[Alert31]

Trading is good for people with a lot of patience and commitment because it needs a lot of time to focus on selling and buying on the market especially if you are doing daily trade. Also trading is risky, so you should accept the fact that you can't avoid losses, avoid being greedy because it can help you earn more.

[Kayum10029]

There are a number of things you must pay close attention to before you start tradingIf you do not pay attention to all these issues, you may face losses in trading.Don't be overly greedy, have a preconceived notion of trading, be patient, keep up-to-date with information, and above all, keep your emotions in check.

[Text]

Another of the mistakes I notice newbies make when it comes to trading is they get carried away with hype and FOMO.  It would have been okay if it was interesting but they should also do their research such as knowing the true purpose of the project, they should avoid pump and dump schemes and not stay with just one source of information.  We know that when there are rising coins/tokens the prices go up, but when we ride the flow they suddenly fall and they think everything is over and they are carried away by their emotions so they make the wrong decision and panic selling immediately so they end up with losses.

[CryptopreneurBrainboss]

3. You must give yourself time: Because cryptocurrency requires patience and dedication, you should not rush to make money at the same time This is impossible since if you buy a coin now, it may take weeks or months for it to pump, so don't expect to make money quickly with cryptocurrencies. Give yourself time to investigate and plan. Because trading is a long-term endeavor, you must devote sufficient time to learning.

Don't confused investment with trading, trading has more shorter timeframe than investing so it doesn't much have to do with patience instead it has more to do smartness. How smart are your strategy to outsmart the market that's what trading is all about.

The market is no respecter of anyone so you'll need to update your strategy constantly to be in line with the current sentiment of the market. I'm pretty sure the same strategy used for bullish market won't be the same for bearish market and as a traders you should be capable of making profit in all market condition and not just the favourable ones.

Trading has much to do with experience, to become a professional trader you must have spent a decent amount of time in the market and it return it helps you make quick and accurate decision novice coming into the market won't be able to make due to their lack of experience. That's where the dedication comes in as you'll have to be willing to dedicate a decent amount of your time to learning.

[barbara44]

There are a number of things you must pay close attention to before you start tradingIf you do not pay attention to all these issues, you may face losses in trading.Don't be overly greedy, have a preconceived notion of trading, be patient, keep up-to-date with information, and above all, keep your emotions in check.

Don't be greedy? I mean someone who enrolls multiple accounts in signature campaigns shouldn't be giving such advice to others. Sorry about getting personal but this is just another post made for the count.

Although talked about multiple times, I feel like there are still a few things I must mention that are essential for any trader, especially one who trades cryptos.

1- Knowledge obviously
2- Ability to read charts (technical analysis) & fundamental analysis
3- A good balance between greed and ambitions.

[Pasa32]

As i recently saw a post about trading that i needs full concentration and constant time. But i have to say and seen there are many traders even they are not giving much time to trading, but they are good at trading, and earn a lot and took a great profit from it. I think they have a good fortune that's why.

[jostorres]

It is somewhat to know that trading was not for impatient people, in fact, I was experiencing this kind of action as I badly think that it drops more but suddenly the pumps just come after selling, it is really regretting. This simply means that we can't make a good trade if our emotions drive us and this is the most common scenario that happened to the newbies.

However, if we are willing to change this kind of mindset and learn those wrong decisions, we certainly make it right. It sometimes happens ( or was common) to experience losses first just to know where we are wrong and that is what we need to find and correct.

That's why most experienced traders are some of the calmest people. A trader who panics quickly and gets excited with small losses/profits will never really go a long way. Such people are usually teenagers who have the energy to do everything but lack patience. Actually now that I think of it, this is also the reason who so many young guys get addicted to gambling. They want to get rich quickly.

Knowledge about trading and strategies can be learned but the attitude required to trade and the calm mindset is not something you will learn from anyone.

[checkmatesir]

Trading needs constant attention and your more time than you think. It is a way for earning and if someone wants to earn more he should have to give more time. As it is like business, if you want to make more money, then you should invest more and you should give more time to the trading as compared to other things.

[wahyu wida]

It is somewhat to know that trading was not for impatient people, in fact, I was experiencing this kind of action as I badly think that it drops more but suddenly the pumps just come after selling, it is really regretting. This simply means that we can't make a good trade if our emotions drive us and this is the most common scenario that happened to the newbies.

However, if we are willing to change this kind of mindset and learn those wrong decisions, we certainly make it right. It sometimes happens ( or was common) to experience losses first just to know where we are wrong and that is what we need to find and correct.

That's why most experienced traders are some of the calmest people. A trader who panics quickly and gets excited with small losses/profits will never really go a long way. Such people are usually teenagers who have the energy to do everything but lack patience. Actually now that I think of it, this is also the reason who so many young guys get addicted to gambling. They want to get rich quickly.

Knowledge about trading and strategies can be learned but the attitude required to trade and the calm mindset is not something you will learn from anyone.

indeed psychologically, people who are psychologically established are people who are old enough. Indirectly, daily behavior does have an impact on our behavior when trading. Teenagers do have big ambitions and a high spirit of speculation, because they don't think long and even seem in a hurry. therefore for the first time they must be willing to learn and don't think here quickly find a lot of money

[tvplus006]

...indeed psychologically, people who are psychologically established are people who are old enough. Indirectly, daily behavior does have an impact on our behavior when trading. Teenagers do have big ambitions and a high spirit of speculation, because they don't think long and even seem in a hurry. therefore for the first time they must be willing to learn and don't think here quickly find a lot of money

This obviously depends on the fact that adult traders are cautious about risks, since they risk not only their balance sheet, but also the well-being of their family. While young traders are not burdened with family obligations and often risk risk their deposit. And in case of failure, they can count on the financial assistance of their parents.

[ipanks]

As i recently saw a post about trading that i needs full concentration and constant time. But i have to say and seen there are many traders even they are not giving much time to trading, but they are good at trading, and earn a lot and took a great profit from it. I think they have a good fortune that's why.

Some traders do not need to analyze too long to know when entering the market because they can get to where the market will move. But some others will need a long time before they can enter the market. That will depend on how we analyze the market and the purpose of trading is we want to make money and I am sure that we have our own target in making a profit as long as you know how to analyze and the time to trade, you will have a chance to make a profit.

[Cling18]

A positive and proper mindset before trading is also an advantage. We should always consider the fact that losing is part of trading and it isn't always about gaining a good profit all the time. Dealing with the market changes would help us cope up with the pump and dump easily. Trading by knowledge and skills is still better than trading based on our emotions.

[tygeade]

Also, I would like to add, it is okay if you lose money. A lot of people gets upset when they lose money and it is understandable money is a big part of our lives and when you lose some then it becomes a big problem for you and for everyone around you, and that's why it is totally alright if you get upset.

However if you could at least pump yourself back up, and realize that it is money and you can earn it back, no matter how much money it was, if you got it once then there is a good chance you could have it again, in rare cases it is quite difficult, but most of the time every human in the world faces moments where they can make more money in a quick period of time than they do for years, I remember a month where I made more money than I made in 5 years total, which is why do not be upset and wait for the next time you are going to end up with profiting for this.

[perfect999]

Learn first how to read chart. I remember I bought 3 ETH for 30usd.. I sold it all when ETH reached 20usd.
One of my biggest mistake as a newbie

This is the biggest mistakes of every newbie, they are too greedy and they always forget to analyze before invest simply because they are too dependent and they trust trading signal that much. There’s a lot of things to learn first about trading, it can’t happen within a day so always have your patience and trade with your analysis.

Too much greed or panicking too quickly are both hindrances for a crypto trader. If you have decided to trade in this volatile crypto market, you must be well prepared to see the ups and downs every day. If you have a tendency to panic too quickly then surely crypto isn't meant for you. I cannot believe someone managed to buy 3 ETH for 30 bucks but still ended up losing overall.

The technical and fundamentals of trading can't help you one bit if you are too emotional about trading. I would suggest any new traders work on their emotions and then learn other things. Someone with strong control over emotions might earn more than a technical expert who panics too soon.

[RealMalatesta]

A positive and proper mindset before trading is also an advantage. We should always consider the fact that losing is part of trading and it isn't always about gaining a good profit all the time. Dealing with the market changes would help us cope up with the pump and dump easily. Trading by knowledge and skills is still better than trading based on our emotions.

Trading with data on your hand also helps you keep your emotions in check. If you know that a particular project is really good but because of the lack of attention is undervalued right now, you will never panic about its price because you know in the future the value will do justice to the price. No decent project can remain underpriced forever. Similarly, no garbage token can remain on top for a long time because it has nothing but the hype behind it, something like dogecoin or shiba Inu.

Knowledge will come with time but at least you can gather data available to assess a particular project.

[sherenikaw]

Managing assets that are owned properly is the responsibility of the individual so we are indeed required in order that to be more careful and also understand more about the crypto market. Trading is a profitable thing and can also be learned so use it well to get the desired profit. it's true that there are several things that need to be understood before trading so that our assets are more secure and avoid losses. always cultivate positive thoughts and do not rush to make decisions in trading. we must remember our goal to be more careful and patient to wait for the right time.