Before getting into trading

[amirahmed]

When one first enters the trading game, it is most often challenging to know how to prepare for it. Even if it is an appealing approach to increase profit, it would not be as fruitful as one may imagine without a fundamental understanding of the basics and a few preparations.
How should one prepare before getting into trading?

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[Wind_FURY]

OP, 1. NEVER join a paid group.

2. NEVER buy a “secret strategy” from someone who claims that the “strategy” is very profitable

3. Learn from open source information

4. Learn from all perspectives from different traders, and different trading strategies, STUDY/WORK HARD

5. START WITH SMALL CAPITAL

6. If after everything you still are not profitable, save money and Buy the Bitcoin Dip, and HODL

[jackg]

As above, but understand not everyone is profitible or designed for handling trading. You're best off trying but with small capital once you think you've found something that works. If you don't have much capital to start with, you can try paper trading instead (where you trade without money to see how well you do - but that has less risk so is quite a bit different from trading).

[Taskford]

When one first enters the trading game, it is most often challenging to know how to prepare for it. Even if it is an appealing approach to increase profit, it would not be as fruitful as one may imagine without a fundamental understanding of the basics and a few preparations.
How should one prepare before getting into trading?

Since many experience from massive losing on their trades you better seek the reason on why they lose their money and what mistake they do before that incident happen so that you can learn from others mistake and avoid losing huge for yourself and also the suggestion given above is good about using small capital since from that you may know the complexity of trading and the volatility of the market since for sure once you lose the capital you put you can gain experience which can help you do better trades next time around.

[palle11]

A learner who wants to learn more should be patient and not to be in the haste to start real trading. Make all your mistakes with demo , build your passion for it and don't run away from mistakes. A learner should take low risk, identify what is working then stick to it, with time you will be a professional growing from the mistakes made.

6. If after everything you still are not profitable, save money and Buy the Bitcoin Dip, and HODL

This is another type of trading but called hodling. However talking about hodling, longtime can be boring. A real trader don't want to hodl but to exchange for immediate profit..

[john_nautica]

A learner who wants to learn more should be patient and not to be in the haste to start real trading. Make all your mistakes with demo , build your passion for it and don't run away from mistakes. A learner should take low risk, identify what is working then stick to it, with time you will be a professional growing from the mistakes made.

6. If after everything you still are not profitable, save money and Buy the Bitcoin Dip, and HODL

This is another type of trading but called hodling. However talking about hodling, longtime can be boring. A real trader don't want to hodl but to exchange for immediate profit..

Indeed. I think that for a trader to be sharpened and be equipped enough to capable in succeeding in trading, a learner must experience all of the triumphs and failures. After all it is worth it to go through it all because a leaner will value more what is to come.

[hugeblack]

You can always learn when you face real problems and instead of wasting and investing and losing money it is better to use the simulation models offered by many platforms.
If you want to use it to learn trading and other things, please advise the following simulation software^[1][2].
Not listening to paid advice or people who give paid advice, or at least paying them after making profits.

[1] https://niffler.co/
[2] https://bitcoinflip.app/

[BitMaxz]

I'd like to add this from the posts above before you enter into trading.

There is a good Github link with complete guides about fundamental and technical analysis it would be a good source to learn about them before you enter into trading.

For those who don't know yet here is the link below
- https://github.com/SpiralDevelopment/Awesome-Crypto-Trading

Since hugeblack already mention the trading simulators there are a few trading simulators under that link including free and paid trading tools that you can use to start trading and practice what you learn from TA and FA guides from that link above.
Don't think it's a simulator you should change your mind to think like you're trading with real money.
Once you learn how the market works then start investing with a small amount first and apply what you learn.

There is no perfect strategy all pros also experienced some losses when trading and no one could predict the price movement it would still depend on your analysis, decision, and luck.

[GreatArkansas]

Here's one that is a must and important too of trading. Common mistakes of newbie or new in cryptocurrency trading.

One of the Best Weapons in Trading
This is a thread I made a few years ago, it is about risk management. How you properly use a stop loss. It will help you to minimize your losses while maximizing your profits.
This is most mistakes of newbies, they don't have risk management.

[goldkingcoiner]

OP, 1. NEVER join a paid group.

2. NEVER buy a “secret strategy” from someone who claims that the “strategy” is very profitable

3. Learn from open source information

4. Learn from all perspectives from different traders, and different trading strategies, STUDY/WORK HARD

5. START WITH SMALL CAPITAL

6. If after everything you still are not profitable, save money and Buy the Bitcoin Dip, and HODL

If there is anything at all I could add on to, I would also say: Don't download dubious trading bots or anything at all for that matter, from suspicious looking websites. Always look after your own security. Thats how a lot of people get their wallet keys and coins stolen from them. In fact, don't trust anyone or any app at all. If good trading bots actually exist, they will be extremely expensive and/or secret.

[adzino]

When one first enters the trading game, it is most often challenging to know how to prepare for it. Even if it is an appealing approach to increase profit, it would not be as fruitful as one may imagine without a fundamental understanding of the basics and a few preparations.
How should one prepare before getting into trading?

Prepare yourself to be disappointed. Don't expect to be making huge profit right away. In fact, be ready to lose whatever you are investing for trading (time and money both). This is why, you should start small. Invest small amount. Execute your trades. Make losses (or profits) and learn from those trades. See what mistakes you have been making and how you can improve yourself. And like others said, there is no such thing as strategies that will make profit for you. One more thing. Make sure you are comfortable and familiar with your trading platform.

[teosanru]

When one first enters the trading game, it is most often challenging to know how to prepare for it. Even if it is an appealing approach to increase profit, it would not be as fruitful as one may imagine without a fundamental understanding of the basics and a few preparations.
How should one prepare before getting into trading?

First, learn Risk management, then learn mathematics and statistics, and after that dive into Technical analysis and pattern reading, this is by far the best approach one can follow while learning Trading, fundamental concepts aren't that important if you are into day trading but in Swing trading, it obviously becomes pretty important as many events over lap while you are holding your positions and you should know how would these things affect your trading. Also one should always have a plan for trading, an expectation of profit that the person is expecting in a few months or years to come, and should try to hit that target and must not overtrade.

[Ararbermas]

When one first enters the trading game, it is most often challenging to know how to prepare for it. Even if it is an appealing approach to increase profit, it would not be as fruitful as one may imagine without a fundamental understanding of the basics and a few preparations.
How should one prepare before getting into trading?

always make research to obtain specific information especially what are the most important things when it comes trading. in fact all the information nowadays can be searched in the internet so don't make all the things rush because you don't know how risky it is mate. And by the way don't forget to practice your skills as well, create a demo account because its a big help for you to experience how all the things really works within the trading field.. Just put more patience in it and efforts to have a good results when you are in the real world of trading.

[Alisha-k]

Trading is like every other occupation. You before trading you must have met the following requirements:

• learning
• Mentorship
• practice on a demo account
• funding

Each of the above mentioned steps requires your key commitment. You don't just go into trading unprepared. Every trade should be built upon knowledge and not by prediction

[boyptc]

How should one prepare before getting into trading?

Emotion and capital.

You have both of it and you only need to keep up with the lessons you will learn as you start trading. What you'll get to see from your trade experiences is how you're going to make it lesser emotional.

[Oceat]

Trading is like every other occupation. You before trading you must have met the following requirements:

• learning
• Mentorship
• practice on a demo account
• funding

Each of the above mentioned steps requires your key commitment. You don't just go into trading unprepared. Every trade should be built upon knowledge and not by prediction

But we are all doing it since the day one, predicting the future price. I think what you mean is trading is different from gambling, it would only be called gambling if someone who doesn't have a clue about the market randomly selling or buying without looking at the chart. Experience is always the key to survive, you just have to practice it everyday but only on a demo account until you are satisfied with the results of your strategy. That's how you apply all of the above suggestions.

Know that crypto is always risky so learn how to minimize that risk by doing your own research.

[Oilacris]

When one first enters the trading game, it is most often challenging to know how to prepare for it. Even if it is an appealing approach to increase profit, it would not be as fruitful as one may imagine without a fundamental understanding of the basics and a few preparations.
How should one prepare before getting into trading?

Learn with the basics.

1. Read up Babypips.com
2. Try to look for more informations in youtube about terminilogies.
3. Start with some small capital
4. Apply on what you have learnt
5. Try to be sustainable as much as you can
6. Dont be emotional
7. Learn from your mistakes.

You would eventually find out that you are really learning as long you do make engagement.

[Cling18]

Trading is a long process of learning and entering it without enough knowledge has a huge risk. As for me, having the eagerness to know more about trading would be a good start. Learning the basics and risks of it and knowing how to deal with every market situation is an advantage. Proper mindset plus patience are also needed.

[so98nn]

Before getting into trading I would first see how much control I have on my emotions and second best thing I will do is, I will calculate how much loss I can bear! Because these are the things which are primary concerns when you enter into the market. The trading is big well where you don’t know where the base is actually. I’m always concerned about the money I throw in because one single mistake of taking it out at wrong time could make us loose everything. So think many times before we invest. 

[Reatim]

When one first enters the trading game, it is most often challenging to know how to prepare for it. Even if it is an appealing approach to increase profit, it would not be as fruitful as one may imagine without a fundamental understanding of the basics and a few preparations.
How should one prepare before getting into trading?

here is a ongoing topic about what you should know before entering trading and i think it is more applicable than to ask here randomly.

https://bitcointalk.org/index.php?topic=5284582.0

and also there is no need to ask as there are tons of topics on going in this section advising you how to handle trading seriously .

Trading is a long process of learning and entering it without enough knowledge has a huge risk. As for me, having the eagerness to know more about trading would be a good start. Learning the basics and risks of it and knowing how to deal with every market situation is an advantage. Proper mindset plus patience are also needed.

never trade if you are still noob unless you wanted to learn the trading in hard way meaning you will just buy coins and willing to lose before gaining .