Things to know before trading.

[bamb]

In addition to what has been suggested, I will add not to trade against a trend!  Watch out for trending sub-section of Cryptocurrency and position yourself, the market is usually favourable to Cryptocurrency trend and provide support towards it.  Things change quickly in Cryptocurrency so, we should change according to trend and not waste precious time on trade that is not going anywhere!

[Pasa32]

I want to highlight one of them which is the time, that trading needs more time, as it is like business, when you are employ at somewhere and giving time to your duty you will earn more, same in the case of trading, that when you gives more time to trading you will earn more, So, it would be  better to learn all these things before start trading.

[blockman]

I want to highlight one of them which is the time, that trading needs more time, as it is like business, when you are employ at somewhere and giving time to your duty you will earn more, same in the case of trading, that when you gives more time to trading you will earn more, So, it would be  better to learn all these things before start trading.

I agree about having more time in trading. It's not just you'll buy and sell when you're in profit, although there's similarity on it your goal as a trader is different from the usual investor that just sits and waits until their investments go into profit.
And while you're giving time as you trade, you're also learning at the same time while looking with those charts and giving your own analysis to it so, at the same time, there's a dual purpose of what you do.

[Shenzou]

I think that the problem with new traders is that try so hard to deviate from the simple ways and try to trade some low dead currencies where they should be putting their money and their time into well known and profitable ones, and this comes from the lack of information and lack of judgment and this because they are impatient and just want to get into the action where they should be taking more time into researching the right things.

[Oilacris]

I think that the problem with new traders is that try so hard to deviate from the simple ways and try to trade some low dead currencies where they should be putting their money and their time into well known and profitable ones, and this comes from the lack of information and lack of judgment and this because they are impatient and just want to get into the action where they should be taking more time into researching the right things.

They are trying to buy up things which is cheaper or simply they are trying to accumulate cheap coins basing up on their own budget which they do presume that once this coin had pumped then this would
really be giving out some riches on their part but the sad reality or truth is that they do basically been holding tons of shitcoins into their wallets.

Lots of things need to be considered first before you would make yourself sustainable on this market and some would really be gained through experience which would really takes
time and effort on your side.

Dont rush up and dont always think about profits. Mind off on how you gonna handle yourself well despite of harsh market conditions.

[Silberman]

First, must know your capabilities if you are really prepared to take the risk.
2nd, must know your capital, the money from your pocket, not from others.
3rd, you already have a prospect exchange to use in trading and have to familiarize it already,
The last one, set up a plan and then go.

We all need these things as this will help and guide you in what you are doing. Many had failed because they never know what to do next. If you want to succeed in trading, never think that was so easy but rather to think that this is very challenging as this urges you to decide and act wiser.

Also, before you trade big, start small. Learn the ropes, tips and tricks before being confident to shell out large amount of funds. You can only learn those via experience and not from hearsay of others. The actual experience is different from what you are reading, even if there are existing self-help or guides, when you enter the trading, it will still be different. That's when you learn your own tricks on how to attack the market as it deviates from one coin to another.

This is yet another problem with newbies, they think they can start their careers here and obtain profits immediately when most of the time this is not the case, it takes months and sometimes more than a year before a person is able to adjust itself to the huge volatility of the market, so when they are faced with those conditions they do not have the experience to deal with them and then they lose money they would not have lost if the had decided to start slow and with a small amount of money until they learned the ropes.

[BruceLee98]

Consider Why You Are Investing in Cryptocurrency.
Get a Feel for the Industry.
Join an Online Community of Cryptocurrency Enthusiasts.
Read Cryptocurrency White Papers.
Timing Is Key.

[New.in.trading]

very good points mentioned here. These go for everything in trading, far beyond btcusd or other cryptos. These go for forex and stocks and bonds and futures and everything. Basically for everything in life.

[dimonstration]

I think that the problem with new traders is that try so hard to deviate from the simple ways and try to trade some low dead currencies where they should be putting their money and their time into well known and profitable ones, and this comes from the lack of information and lack of judgment and this because they are impatient and just want to get into the action where they should be taking more time into researching the right things.

It's taking advantage of the coins that are popular now, at first it is hard to just go on and left some coins we invested with for long but we mist accept the fact that their era is long gone and tgere new set of coins that can help us recover losses from those overdue if we will able to buy them before the hit start or ends. Those who discover new coins that have potential and is booming now like those in NFT is a good deal to start recovering from ICO old coins that don't  have values anymore. Being able to adjust in trading helps alot.

[isaac_clarke22]

~

#1 might be something to be overlooked at, but take it from my experience that short-term trading didn't work for me. Back when I was day trading, I was kind of stressing out myself 8 hours staring at the charts and turns out I made bad decisions on what coin to buy.
I reverted back to long term and it worked for me. I just work in my full time job before starting to look a little bit in the charts.

~

Dedication to one stuff that you aren't good at won't make any difference at all. Even if I dedicate myself to day trade, but it doesn't really work for me, I won't earn more.

[sarmrakib]

Learn technical and fundamental analysis. Trade on coins that have good fundamentals. Then technical analysis to find out the right time to buy or sell coins. In addition, prepare patience when the coin price decreases, don't panic.

Its really a good effective suggestion you have given .We need to research the project regarding the coin and also analysis the technical things which always help us to get a good return .However we need to analysis the chart as well which helps more than trade on blindly .So i think that's the main thing what i mentioned is very need to know before trading on crypto.

[el kaka22]

It is not easy to become a trader, that is the number one thing that everyone should realize, we are talking about a very tough business and you would really need to end up being online almost every day at all times and get ready for it at all times as well, like even when you are sleeping, you should leave the situation in a way that you will not lose much until you wake up, and then when you wake up every day is a big stress because you are a trader and there are things you can't do, like price going down is not something you can prevent, but you can prevent losing too much money with those kinds of things.

So, I would say that knowing that traders job is a hard one and not an easy one and you may end up earning money but also end up losing a lot time to time, all that stress and anxiety is number one thing. If you are ready for that, then you can start, but believe me you may quit half way because of all the stress.

[Kelvinid]

It is not easy to become a trader, that is the number one thing that everyone should realize, we are talking about a very tough business and you would really need to end up being online almost every day at all times and get ready for it at all times as well, like even when you are sleeping, you should leave the situation in a way that you will not lose much until you wake up, and then when you wake up every day is a big stress because you are a trader and there are things you can't do, like price going down is not something you can prevent, but you can prevent losing too much money with those kinds of things.

So, I would say that knowing that traders job is a hard one and not an easy one and you may end up earning money but also end up losing a lot time to time, all that stress and anxiety is number one thing. If you are ready for that, then you can start, but believe me you may quit half way because of all the stress.

That was actually our personal choice, many did their best to become a good trader while some just did a short stay and leave trading after they realize that it was not an easy life to become a trader, facing on the computer everyday, spending most of the time on it just for the sake of money. That it feels no happiness but more on stress.

Knowing ourselves is the very first thing to do, we can't tell that we also succeed because someone did it, but possibly it will not happen to us. But mostly, we did some trials just to evaluate ourselves and this was commonly happening to newbies.

[kapalmabur]

Learn technical and fundamental analysis. Trade on coins that have good fundamentals. Then technical analysis to find out the right time to buy or sell coins. In addition, prepare patience when the coin price decreases, don't panic.

Its really a good effective suggestion you have given .We need to research the project regarding the coin and also analysis the technical things which always help us to get a good return .However we need to analysis the chart as well which helps more than trade on blindly .So i think that's the main thing what i mentioned is very need to know before trading on crypto.

By doing analysis and research before trading it really helps,
indeed before trading in cryptocurrency we must know many things because maybe it will support us,
What is clear is that doing analysis and research first is important but after all it comes back to each person's decision

[koang]

Knowing ourselves is the very first thing to do, we can't tell that we also succeed because someone did it, but possibly it will not happen to us. But mostly, we did some trials just to evaluate ourselves and this was commonly happening to newbies.

True, Don’t compare your grades with the grades of someone else. If you feel you did the best you could,
your results are a mirror to help you in learning who you are and what you’re good at.
We only know what we're exposed to. Failure only exists if you understand the game.

[arbifahrozy]

I think every trader should have his own strategy, whether if he made a mistake then it doesn't matter he should learn from it and next time he have to be careful about with having new trading startegy. As people can say that trading is easy but it is nor that easy it needs time and the person full concentration. So, risk management is also important in trading.

[Mahanton]

I think every trader should have his own strategy, whether if he made a mistake then it doesn't matter he should learn from it and next time he have to be careful about with having new trading startegy. As people can say that trading is easy but it is nor that easy it needs time and the person full concentration. So, risk management is also important in trading.

We could really create our own strategy as we do engage with trading or simply when we do get sufficient experience.We can stood on our own and we should not really
forget on knowing the basics and of course other things needed which would be discovered when you do make trades. There are lots of things to be considered
and always mind off about those mistakes where you should learn from it so that  you would make yourself more better as you do gain experience.

[famososMuertos]

..//..:

~

Dedication to one stuff that you aren't good at won't make any difference at all. Even if I dedicate myself to day trade, but it doesn't really work for me, I won't earn more.

Hi,
Earning money and paying bills with this income that is what drives a person to perform a non-traditional work activity, at the point that everything depends on you, unlike a job that you can be lousy at what you do but still get paid.

And that's what I mean by "dedication" I don't know where I say in my post that you should be dedicated to trading if you don't pay your bills, your responsibilities.

From theory to practice in unconventional jobs there is a lot of effort, a lot of sacrifice, perseverance but if the skill does not come definitely let it go, of course.

_________________
Edit:

I think that one of the fundamental things before operating is:

1.-Define if you are going to be an Investor or a Market Speculator.
2.-Reflect on your degree of knowledge and understanding about the market, why the movements, whales, shorts, longs.
3.-Define and know very well each Exchange tool if what you are going to do is speculate in the market, if your strength is in short-term trading, or medium or long term.
4.- Have good technical knowledge to use the indicators correctly.

I believe that having these qualities can begin, since what will be risked is money, and I believe that nobody likes to lose their money.

+1

[bct-user]

As people can say that trading is easy but it is nor that easy it needs time and the person full concentration. So, risk management is also important in trading.

It is true that risk management is a necessary thing in trading. A trader must have good risk management to avoid big losses in trading. One of the ways to prevent it is to set cut loss. For a day trader, it is very helpful to ensure he doesn't lose his capital easily. When the price of a crypto coin drops to a certain rate, commonly it can execute "cut loss" automatically. There is a cut loss feature on the exchange.

[livingfree]

I think every trader should have his own strategy, whether if he made a mistake then it doesn't matter he should learn from it and next time he have to be careful about with having new trading startegy. As people can say that trading is easy but it is nor that easy it needs time and the person full concentration. So, risk management is also important in trading.

Newbies will literally make a mistake with their first trades. But as they commit a mistake that's how they're going to formulate their strategy and what's a better approach that they can do from the market.

Those people who are saying that trading is easy might be the, trading experts and not trading at all.