How to trade properly for newbies

[galambo]

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.

Can't agree more. Crypto trading is open for everyone doesn't mean it's profitable also for everyone. One mistake which many new traders made is that they jump straight away with huge capital. Since they don't have necessary knowledge and understanding of rypto trading tools they end up cursing the market. The fault is not in crypto market rather in us,  we  have a greed that we wanna get rich overnight.

[suzanne5223]

1. Understand that no one and that including the experienced crypto trader can 100% trade properly
2. Crypto trading is like gambling a lot of traders set profit/loss rates and stop-loss but choose not to follow it due to trading buzz.
3. Borrowing or participating in leverage trading is the worse case of crypto trading.
4. Due to the volatility of the market I don't see anything bad in leaving orders overnight if the trader is sure about her decision.
5. No one can totally adjust or keep in check her emotions.

[yagamitaichi]

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

I underline for point 4 and point 6. Because I think that's the most important.

"4. Don't borrow, deposit too large (under 25X is safe)"

It is very dangerous for us because the too high interest will make it difficult for us to pay it. If we can profit from trading if we lose? how are we going to pay for it?

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

don't use emotions for trading but use knowledge and thoughts when trading

[izumikoushiro]

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

For a beginner, I suggest studying all the information about trading both on the forum and on the youtube channel. Now there are lots of articles and youtube channels that discuss the right way of trading. So that we do not experience huge losses when trading.

[cabron]

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

For a beginner, I suggest studying all the information about trading both on the forum and on the youtube channel. Now there are lots of articles and youtube channels that discuss the right way of trading. So that we do not experience huge losses when trading.

When he said position is important I actually believe it. I do a lot of 69 positions when I was in my early 20s now, I'm disgusted with what I did.

OP is up for margin trading as I can see but it's not for newbies when you do that. Most newbies are going to the spot market. It's the way for crypto newbies to earn more than just going to leverage which if he doesn't have much experience and lots of reading the indicators, he will lose.

[Alisha-k]

I was guilty of no.5- Do not leave orders overnight.
I slept off while a trade was still on and upon waking up in the early hours of the next day, I had lost more than a $100, it was really hurting and discouraging since that was like the first time I had started trading....

Thank God I didn't give up though, am now enjoying the benefits of trading wisely .
Please add, do not trade or invest above your means, risk what you can afford to lose so you don't go into depression if you eventually lose them.
Time and analyse your trades properly.
Never think you're above any knowledge, knowledge is key so be open to learning.

[ReiMomo]

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

Yes, newbies pl never borrow money to invest. What will happen is, you would be committed to pay back the amount at a situation where your orders do not seem to be yielding you turnover / profits to payback the amount when you need it. So what will happen is, you will tend to close off the trade at loss and complete your commitments. You will be at loss. So never have commitment or depend on its turnout. Just invest if you have enough money to manage. Do not get in seeing your friends being in it.

[Kelvinid]

Well, I believe that newbies must be on focus to gain knowledge first before doing anything like this trading. Probably they are eager to learn to trade for they believe that this helps them to improve their living, that be right, of course, but if this will be mismanaged big losses will also have come to them which is very common to newbies.

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

And that they need to consider all of these tips and advice. This is not a simple tip that they will just ignore but this could help them to open their mindset in regards to having easy money in trading which is totally wrong. By simply following these tips, I'm for sure they could able appreciate trading more.

[sheryllmcnulty]

The best advice I can give to newbies is not to take risks when you are not prepared. You might see the market as an easy way of making money, but when you actually start doing it, you will understand that it is not that easy.

[abrahamtownsend]

Newbies must learn to control their emotions. They might see the market as an easy way of making money and try to do all at once by rushing things. Take your time to build your career slowly because that’s how it will last for long.

[dortheamangum]

New traders must practice their trading strategies on their demo account before using them in the live market. This way, they can save their money from losing and can also get an idea of how their strategy will work in the live market.

[tvplus006]

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

This is the biggest mistake newbies can make. Where margin trading begins, the deposit necessarily ends. A beginner needs to gain enough experience and knowledge before he can start trading with leverage. And spot trading should help to hone these skills. In addition, the leverage x25, which OP writes about, is also risky not only for beginners.

[GeorgeJohn]

It's quite understood that we have different dimensions of trading, the only thing i found out, is that your method of trading to achieve success or profit can't be favourable to me if i follow the step of your trading patterns, i think during trading we develop the mentalities of making profit or avoiding lost through our previous mistakes, so i believe that is a personal skill developed and corrected through our initial engagements and errors that occurs during the process, so it's the reason no one is perfect in trading academy, everyone experienced lost and profit also, let us not pick a specific method as a source to make gain through trading.

[Oshosondy]

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

I do not know why people leverage over 20x if not using cross margin, even if cross margin is used, then it is very important to reduce the trading amount from the total amount in the leverage trading account. Using 25x will result to easy liquidation, I will not advice using 20x, even 5x is too high, 2x for experienced traders, 1x not for traders but also for experienced traders. If someone is a new trader, it is not bad to use just 1x or spot trading with just $100 to be the highest trading amount. Newbies will lose it all though, that is why the money that can be afford to lose and never think about it is the amount to start with trading.

[Dropmann]

Does someone know good youtube channels explaining all the stuff around trading for beginners. Just basic knowledge.