What every new trader should be focused on

[Luke Briggs]

Take a look at some well-known people on Twitter, they will give some direction, every day to learn the knowledge of cryptocurrency, every investment before thinking, do not fear failure, find experience in failure.

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[michellee]

Take a look at some well-known people on Twitter, they will give some direction, every day to learn the knowledge of cryptocurrency, every investment before thinking, do not fear failure, find experience in failure.

If you want to learn from them, that will be okay but if you want to just follow what they said, for example, they told you to buy A coin, then you will need to think twice. We can learn from many sources, which is unlimited, as long as we want to learn and have an effort to learn. I am sure we will have our time to make a profit from trading and once we can do that, we still need to learn more to have more chances to make a bigger profit.

[john_nautica]

Take a look at some well-known people on Twitter, they will give some direction, every day to learn the knowledge of cryptocurrency, every investment before thinking, do not fear failure, find experience in failure.

If you want to learn from them, that will be okay but if you want to just follow what they said, for example, they told you to buy A coin, then you will need to think twice. We can learn from many sources, which is unlimited, as long as we want to learn and have an effort to learn. I am sure we will have our time to make a profit from trading and once we can do that, we still need to learn more to have more chances to make a bigger profit.

You are right. There is a thin line between simply following what has been said and evaluating the information acquired in order to come up with a decision. There indeed many sources to acquire knowledge beside following well-known people on Twitter, there are books, video tutorials and even demo trading. I think that traders should know that learning is a never ending process in this field, we learn new things every time.

[checkmatesir]

Trading skills are very important for every trader, If someone is trading in a way he has low capital then he didn't have to be worried because getting skills allow him to make more and more profit then he should invest a big capital. As you had said a very good point that capital is not matters that much as the trading skills matter.

[irsykes]

I see a lot of newbie traders complain about lack of trading capital. And I want you to know that you are focused on the wrong thing. Your attention should be on focused on the trading skills first before worrying about the capital. Trading capital is not the most important thing in trading. The most important thing is mastering the skills. No matter how big your trading capital is, if you lack the trading skill you won't book any profit and will most likely blow your account. On the other hand, if you have the skill set, you will be able to handle and grow any trading capital into something substantial.

Some people (but i'd say a lot), think if they use more capital they wiill gain more profit. Because they too confident about their trading strategy. Maybe capital for me is number 3 priority but i never think if more capital will be more profit. For me more capital means i have more chance and more possibility to minimize my losses because for me what is important thing is when i can get out from bad situation in market.

[Silberman]

You still need both though imo. Yes, skills are needed, but enough capital should also be a requirement if you want to go out there and actually profit off of it. Yes, you can profit off of small capital, but it needs to match the skill level you actually have so that it's actually worth it you know? Still, if we were to put a count into what priority it should go, then foundation, skills and understanding would definitely rank first, and your capital would rank below it. It's important to always have a balance in things, so that everything you do actually returns something of equal value, being limited by a certain factor in your tools isn't supposed to happen after all.

While this is not talked about much I think that people also need to do some soul searching, many of those that come to this market do so to obtain profits and that is fine, however it is well known that the best performers at any activity are those that actually like what they are doing and do not even consider what they are doing a job at all, if you do not like trading then it does not matter how good you are you will eventually get tired of it even if you make profits, and even more importantly it is going to be way more difficult to become a good trader as you do not like the activity at all.

[Woodie]

I think the most basic should be how to read charts and to prove that this newly learnt skill has being mastered, after this  they can practice on demo accounts . My next  most encouraging area of focus has to do with risk management,  no matter how good one is ,if they can't apply this technique to their trading skill then their is no use to trade. But risk management minimizes the exposure of your account to these these external factors .

[lalabotax]

Exactly right,'
As long as we have free money, how much it is will not be a matter.
The matter is when we put the money in the wrong place and use the wrong strategy. That is why I also agree that every newbie must learn at first about crypto trading, about trading skills, at least they know about the technique. Not only have big willing but lack of spirit to elarn.
In this case, trading is not something simple we can buy at a low price and sell at a higher price, not as simple as that.
Additionally, we also realize how newbies only follow other people and they face losing when trading, they blame the figure that they are following. So bad.
And many newbies say that: I only have small capital that is why my profits will not be big enough. always like that?

[qwertyup23]

I see a lot of newbie traders complain about lack of trading capital. And I want you to know that you are focused on the wrong thing. Your attention should be on focused on the trading skills first before worrying about the capital. Trading capital is not the most important thing in trading. The most important thing is mastering the skills. No matter how big your trading capital is, if you lack the trading skill you won't book any profit and will most likely blow your account. On the other hand, if you have the skill set, you will be able to handle and grow any trading capital into something substantial.

It is essential to point out that every trader should always expect that profit is not always something that comes along the way. It is relatively difficult to trade cryptocurrencies due to their extreme volatility that could either make or break your trading profit within hours or days. Before trading, lower your expectation about profit and avoid being too ambitious.

Another thing, in trading, experience is what separates a trader from an expert trader. That is why, gain as much experience as you need by starting low. Lastly, once you see a profit, avoid being too greedy and cash them out as soon as you see a profit.

[Viscore]

Exactly right,'
As long as we have free money, how much it is will not be a matter.
The matter is when we put the money in the wrong place and use the wrong strategy. That is why I also agree that every newbie must learn at first about crypto trading, about trading skills, at least they know about the technique. Not only have big willing but lack of spirit to elarn.
In this case, trading is not something simple we can buy at a low price and sell at a higher price, not as simple as that.
Additionally, we also realize how newbies only follow other people and they face losing when trading, they blame the figure that they are following. So bad.
And many newbies say that: I only have small capital that is why my profits will not be big enough. always like that?

The outcome of your trading will only reflect on how you manage your trading skills, strategies, as well as the capital you put into it. So its a complete package, that if you lack even one of them, your trading won't come out successful the way you plan about it. A new trader should be eager to learn all the basics in trading, gaining insights on the crypto coins and how they move in the market, learning when the best time to buy and sell, and definitely applying the skills and strategies which will make your trade more profitable. And when you start trading, at least you have a minimum amount of capital to make it work.

[Oceat]

I think the most basic should be how to read charts and to prove that this newly learnt skill has being mastered, after this  they can practice on demo accounts . My next  most encouraging area of focus has to do with risk management,  no matter how good one is ,if they can't apply this technique to their trading skill then their is no use to trade. But risk management minimizes the exposure of your account to these these external factors .

Exactly! Newbies should more a lot from the people who have experience about the market and how they managed to get back in track. They shouldn't expect that there are no losses once they entered the market since everyone will have to experience that too.

No one is perfect when it comes to trading but they could manage to do so then they must be lucky. Trading is different from gambling so people should not gamble their money if they don't know what's going on in the market.

There are tons of information in the internet that you can easily access to practice your strategy in trading. And never ever join any paid group/signal if you just want to have an easy money, there's no such thing as easy these days.

[michellee]

Take a look at some well-known people on Twitter, they will give some direction, every day to learn the knowledge of cryptocurrency, every investment before thinking, do not fear failure, find experience in failure.

If you want to learn from them, that will be okay but if you want to just follow what they said, for example, they told you to buy A coin, then you will need to think twice. We can learn from many sources, which is unlimited, as long as we want to learn and have an effort to learn. I am sure we will have our time to make a profit from trading and once we can do that, we still need to learn more to have more chances to make a bigger profit.

You are right. There is a thin line between simply following what has been said and evaluating the information acquired in order to come up with a decision. There indeed many sources to acquire knowledge beside following well-known people on Twitter, there are books, video tutorials and even demo trading. I think that traders should know that learning is a never ending process in this field, we learn new things every time.

In this way, evaluating the information will be necessary, especially we can collect much info from them so we can analyze it one by one using our analysis. Hopefully, that can bring us new info that they do not know or not share with the public to use for our benefit. Sometimes, it needs us to dig deeper from that information so we know the other clue that can be useful for us. I agree that learning is a never-ending process we should face every day, even if we can become pro traders someday.

[Ryder Kudrow]

New traders should focus more on learning encryption knowledge and skills, and learn to use indicators to analyze market trends. Start trading with a small amount of money first, don't worry about losing money, the most important thing is to gain experience in practice. Finding a trading strategy that suits you based on experience will increase your chances of making profits in subsequent transactions.

[kramchers]

I see a lot of newbie traders complain about lack of trading capital. And I want you to know that you are focused on the wrong thing. Your attention should be on focused on the trading skills first before worrying about the capital. Trading capital is not the most important thing in trading. The most important thing is mastering the skills. No matter how big your trading capital is, if you lack the trading skill you won't book any profit and will most likely blow your account. On the other hand, if you have the skill set, you will be able to handle and grow any trading capital into something substantial.

Skills in trading is referring to knowledge about it, just like a gun where it will be useless if you don't have a bullet in it, same goes
here in crypto trading, you need to have a knowledge and idea will follow for sure. Aside from this matter, you need to study little by little
here in this field of business industry. Besides, here in crypto even you don't have capital you can still able to earn here via this bitcointalk
forum and capital is the second options for trading.

[MiF]

I see a lot of newbie traders complain about lack of trading capital. And I want you to know that you are focused on the wrong thing. Your attention should be on focused on the trading skills first before worrying about the capital. Trading capital is not the most important thing in trading. The most important thing is mastering the skills. No matter how big your trading capital is, if you lack the trading skill you won't book any profit and will most likely blow your account. On the other hand, if you have the skill set, you will be able to handle and grow any trading capital into something substantial.

I agree on that we need to be ready in terms of skills and learning before we start trading, because if we don't have any learnings or skills on trading our capital will surely vanish,we need to study or train our self on how to survive in every situation that we may face on our trading journey to avoid loss.

[The Cryptovator]

Capital is one of the most important elements of trading. But this isn't the only. For a newbie crypto traders should invest time rather than investing a big amount of capital. Because there are a lot of things that should acquire before investing a big capital. Due to lack of experience newbies are worried about capital, and due to lack of skill, they lose in trading. To improve skill should learn many things. So during that time, I don't think capital should be an issue. Once traders become skilled,  then they could convert a small capital to big capital and that's now become a successful trader.

[otundebis]

Trading without capital is impossible, even in defi,  you've got to have a collateral to be able to borrow.  Having said this,  obtaining trading skills and abilities is not a end in it's self,  it actually a beginning of understanding the market structure and one self!  I ability to repeatedly turn a profit require different type of mindset we are use to, Trading profitably is about think and believe in oneself!

[tygeade]

Most of the new traders wants to start booking profits immediately, they don't understand how the market works and yet they want to be making money from it when they lack the skills that are required. So this is right, they should first of all go for sharpening their skills in trading, and when they are good enough in doing that they can start thinking about how they can make capital.

Skill enhancement in trading is not something that is being done just in few days, it is with consistent studying for at least a month or even more than that to get better. Then another thing is having enough capital, that also matters a lot since you shouldn't be trading when you don’t have enough, you might be forced to invest more than you can afford to lose just because you're trying to have more investment to be able to reach more profit.

[pelumi20]

I see a lot of newbie traders complain about lack of trading capital. And I want you to know that you are focused on the wrong thing. Your attention should be on focused on the trading skills first before worrying about the capital. Trading capital is not the most important thing in trading. The most important thing is mastering the skills. No matter how big your trading capital is, if you lack the trading skill you won't book any profit and will most likely blow your account. On the other hand, if you have the skill set, you will be able to handle and grow any trading capital into something substantial.

Contrarily you can't become a trading master with $100 as capital because it will restrict our decision making ability and also we should pay more to the transaction fee since we can't hold a pair when we see another pair is doing good.

Yes you are right. Trading with a small account size would limit your decision making. But you should also know that, trading with a huge account size without the right knowledge is like walking in a mine field, it's only a matter of time before you lose it all.

[CryptopreneurBrainboss]

Trading capital is not the most important thing in trading. The most important thing is mastering the skills. No matter how big your trading capital is, if you lack the trading skill you won't book any profit and will most likely blow your account

Exactly, when the skills is been neglected, it comes back to hurt. If you start trading without any prior knowledge and been successful as it, it's known as beginner luck and not you been a trader. Trading is a skill and just like other skills, it has to be learnt. The good news is that the learning process can be carried out anywhere in your apartment (and not must been a lecture hall) with the helps of media platforms like YouTube etc.

While actually knowing how to trade is very important also the capital used is very key as well. You can't expect to be very profitable when smaller capital are been used as it'll reduced your chances of getting the best out of your market but do also know you'll be exposing your capital to the market volatility which is were the stop loss function comes into effect.