How to trade properly for newbies

[cosanostra98]

1. Position is the most important thing
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets

[odolvlobo]

How to trade properly for newbies

Just don't. If you are new to Bitcoin and you are new to trading, you are going to lose money. There is no doubt. At least learn about the coin before you start trying to make money trading it.

BTW, most day traders lose money. The ones that lose the most are the ones that are lucky at first and think they know what they are doing when they don't.

[mk4]

Trading properly is trading realistically, methodically, and with actual proper risk control without getting too cocky over good trades, and following your own strategies. There is no sort of "standard" or "proper" way of trading like what you've mentioned even if I agree with some of your points; the right rules to follow will be different for everyone.

[cryptoaddictchie]

Thanks for thr suggested points but I believe not all will employ this set of parameters. Trading is like an art, we have different skills that can apply to those charting and technique. I agree with mk4, not all successful trader follows the set standard. But is there a standard one to begin with? I am also doing trading but Ive been doing minor on your suggestion like set profit on a particular ratio. Nah! I havr my own scaling when doing trading.

[passwordnow]

1. Position is the most important thing
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets

Might also be good to add that don't trade if they're still new and check those trading exercises or simulators where they can trade without risking their own money. I think that's a good start for the newbies to have an idea of how it goes with trading so that they'll make themselves be prepared if it's about putting their money on the line as they trade. And as an addition to that tip, just don't leverage/margin trading, it's not really for the beginners.

[SquirrelJulietGarden]

1. Position is the most important thing

It is not. The most important thing is you have to know how long you should let your position open. You should know you have to close your position, accept a loss, minor loss, a draw. If you can not accept it and let your position opens forever, you will be liquidated.

2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)

Profit/loss ratio is 1:1 is bad and in my opinion, 3:1 is the ratio to use.

4. Do not borrow, deposit too large (under 25X is safe)

No. It depends on the market crashes or not and your entry price, your stop limit, stop loss order.

One of the best weapons in trading

[Magicalking]

1. Position is the most important thing

Stop loss is the most important IMO. Taking position is as easy as placing a bet

4. Do not borrow, deposit too large (under 25X is safe)

This is good. Binance has a restriction on the leverage a newbie can use (x20).

5. Do not leave orders overnight

This shouldn't be a problem if you set your stop loss and sell trigers. Automatically the system will do accordingly to the commands set.

6. Adjust emotions when entering orders. If you lose, remove the other bets

I
Btw you forgot to add; Don't trade futures until you are no longer a " newbie". Trading futures is not for beginners

[Oshosondy]

3. Always set stop loss below 10% of the account

Stop loss is not necessary in all kinds of trading, it has advantage and it also has disadvantage.

4. Do not borrow, deposit too large (under 25X is safe)

Just use leverage instead of the word borrow for not to confuse people, 25x is also still too much, the lower the leverage will be the lower the risk of losing.

[Bitcoin_Arena]

3. Always set stop loss below 10% of the account

It shouldn't be a must. It should depend on the market one is trading and how volatile it is. Imagine if someone opened a position on 10x leverage. 10% stop loss is just a 1% move on the spot market for the stop loss to be triggered. You will find more stop losses getting triggered more than you take profit in this volatile crypto markets

4. Do not borrow, deposit too large (under 25X is safe)

Anything above 10x is very high. The number of trades I won on a leverage of more than 25x can't be more than 5 

[isaac_clarke22]

~

Gonna highlight this point. I did day trading at my first time trying to get into the field of trading and even with the use of tutorial from Youtubers like Cryptojack, it never went well for me. At least I got to know few indicators though, but earning from it is a different story for me.
And yes, most of them lose money.
This is why I stayed for long-term investment for now.

[sheenshane]

I think you need to change your title, it's irrelevant and awkward.  
First, I agree above, if you're a newbie you shouldn't enter the trading field if you've lack knowledge.  Because there's no proper execution in trading, there's no step on it, it might be what you meant is the tips and suggestions in trading.  BTW, there are too many of them and I just like to add one of the most important to your input, it should also be a "trading plan".

Yes, that's it.  You have an aiming or targeted on the right trade.
It shouldn't be changed even there's a FUD or even a massive bump of a coin, just stay on it because you have a plan.

As a newbie, I suggest going first in copy trading.  Gaining knowledge after gaining profit is far better.

[hatshepsut93]

1. Position is the most important thing
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets

What is the point of this post? Do you really think you can take any person from the streets, give them this advice and they will start making money with trading? There are lots of people who read multiple books about trading, read articles, blogs, watch videos, take courses and they still lose money with trading.

People who try to get rich quick tend to get poor quick when it comes to crypto.

[Issa56]

I agree with some of your points but I disagree with your point number 6.
Point 6: don't always leave order overnight I don't really agree with that point there are different trader so depending on the type of trader you are. If you are a long term trader or mid term trader then you will have to leave your orders over night. If you are a day trader then I agree with that, so maybe you should specify.

[Husires]

2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)

Implement a strategic plan that calculates losses and profit reasonably instead of dreams of rapid profit.

3. Always set stop loss below 10% of the account

Stop loss orders are good but without studying, and do not stop the loss, but working on the accumulation of all previous losses to explain until they are comprehensive loss.

5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets

It differs from the way for your account for sale and purchase orders.
It does not matter to adjust the emotions as far as they convert those emotions to power to invest and profit more money. Emotions are not something but the energy you need to be employed correctly.

[Nasal blisters]

Thanks for thr suggested points but I believe not all will employ this set of parameters. Trading is like an art, we have different skills that can apply to those charting and technique. I agree with mk4, not all successful trader follows the set standard. But is there a standard one to begin with? I am also doing trading but Ive been doing minor on your suggestion like set profit on a particular ratio. Nah! I havr my own scaling when doing trading.

They are all kind reminders, and there are no standards. For everyone, there are individual differences. As a novice, preparing for some recent tuition is the first thing to do, unless you are an anti-human genius. Few people can achieve the same heart and hand movements. If you do, you are not human. Haha, I can share a bunch of failed experiences with you. In the Bitcoin trading market, the Pareto rule and the negative sum game have told us that most of them are losses. This is inevitable, human nature is like this, there is no escape.

[ifarted]

Don't trade yet if you are a newbie. You'll lose money and gain nothing. Do not take risks. Learn about trading strategies and marketing to gather knowledge about it or at least learn about coin before trading. Check thoroughly if the person that you're trading is not a scammer.

If ever you'll still lose money. You need to be calm and start again maybe the next opportunity will be much better for you that'll make you successful.

I'm still a new and i'm still learning about trading and i hope we can learn together.

[traderethereum]

For a newbie, I can only suggest you buy the coin and wait for a while.
Do not rush to sell the coin, especially if the price increases for a small price.
Calm down and do not panic if the price is down because the price will always back to your buying price so you do not need to worry.
Do not attract to buy and sell many times if you can not analyze the coin moves because that can get you in purchasing the coin at a high price.
The important is do not to use too big money to start trading if you do not have skills.
Many more things that a newbie should know before they start trading.

[sou-kou]

Novice Cheats:
1. Buy on dips, keep buying, and hold on firmly.
2. Don't touch the contract or leverage without learning stable band profit.
3. Learn more, understand the essential technology behind the project, and like to research technical aspects.

[Rockstarguy]

1. Position is the most important thing
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets

Beginners should not rush into trading to make money. They should seek for all trading strategies and study the market how it works before going trading .

[chuckweitzman]

There are no pre-set rules when it comes to trading. It’s best to create your own trading plan and rules and stick to them. While trading with Coinexx, I always do what worked for me while backtesting. I avoid hits and trials in the live market so that I can avoid unnecessary losses along the way.