Before getting into trading

[blatchcorn]

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

These are golden rules I would say. Further to above reference points I would emphasise on the fact that trading for short term is not for everyone. Even experts at times can't handle wild fire of crypto trading. Hodling for long term is best strategy if you always wanna win.

[1714641894]

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[martina14]

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?

Let me share to you first my experienced when I entered into trading mate, Learning is the basic rules in which I did before, I patiently do some research about it here in cryptocurrency, that is why google search was very useful to me when I was a newbie before. In fact, even up to now I continue to learn here via my experienced in trading. And never allow in your mind and heart to become greedy or else you regret it for sure. Just don't aim high earnings always start with small earnings and be satisfy what you are doing while you are starting here.

[livingfree]

Before one starts trading,he or she must have made thorough research on the aspects of trading he wants to indulge in.He must have the mindset of loosing,because if he does not carry that mindset,the market will shock him and give him heart attack when he begins to lose.
He must have in mind that losing is part of the game.

Losing is truly part of trading.

Someone who wants to start trading has to be that open in that mindset. It doesn't mean that because you're going to lose upon entering but it's because the chance of losing is higher for many starters.

It's a good mindset at the beginning for you to don't have that much emotional impact.

You need to consider that losing is part of this business, even experienced trader also have that bad day in trading, no one can say that they are all set and good when they trade, though there are always different mindsets that each traders have, mistake from experienced traders treated as learning process while with newcomers they are not willing to accept and blame the market and leave.

You need to balance and think of alternative ways. If you made some wrong decisions, having a good backup plan will keep you inside the game and allow you to survive.

Once everything settled, expect good growth and success will take place.

Everyone can have their bad days or what we call it red days and that's true.

You can't be a trader if you're not open to losses and you might just be an investor and hold your assets so that you won't be losing that much as you start.

It's the right decision if you do that then.

[ScamViruS]

Of course, trading knowledge is the main requirement so as not to get caught in a trading situation that is not as easy as imagined. By knowing the previous trading picture, we will be better prepared to accept the risks and rewards. but the best thing in my opinion is the guidance from the closest friends at the beginning of trading

Before starting trading, all traders have the same idea of ​​how to make as much profit as possible. But those who can't solidify their foundation before they start trading by acquiring proper trading knowledge, they can't stay in the crypto market for long, lose their capital and exit the market.

So the guidance of a close friend before starting trading is not enough, it requires proper crypto trading knowledge.

[markdario112616]

Before getting into something in General, One MUST have the idea what he/she'll be into.
The basics are the MOST important thing to have. Especially when just starting, a lot of newbies tend to skip this as they feel that they don't need it. Being intelligent is not that important, but to be able to understand the nature of trading is enough to succeed. Knowledge, Data gathering, patience and many more are part of the Basics. That's how important to have the basics before entering the world of Trading.

A lot of newcomers don't last as they taught when they trade that's it, They see a low investment entry they'll grab even without proper data to support every decision. As I see it, it seems that only about 30% of the new comers are willing to start from the very beginning no shortcuts and everything.

[Natalim]

Before getting into something in General, One MUST have the idea what he/she'll be into.
The basics are the MOST important thing to have. Especially when just starting, a lot of newbies tend to skip this as they feel that they don't need it. Being intelligent is not that important, but to be able to understand the nature of trading is enough to succeed. Knowledge, Data gathering, patience and many more are part of the Basics. That's how important to have the basics before entering the world of Trading.

A lot of newcomers don't last as they taught when they trade that's it, They see a low investment entry they'll grab even without proper data to support every decision. As I see it, it seems that only about 30% of the new comers are willing to start from the very beginning no shortcuts and everything.

This is the reason why traders now only exist for short term and after that, they are gone eventually in the market. Too different from those early traders wherein until now they are still active in trading because they learned trading through a step by step process and with experience follows their own strategies that have made them keep into trading until now.

In addition, having a positive mindset before getting into trading is also very important because that will motivate you to keep even better from those frequent losses you might experience as first timer.

[Rajamuda]

The point is to have a strong intention and commitment, as well as to recognize market trends from day to day, especially in crypto trading. We are here like to play to avoid risk and play it safe.
In addition, to really be able to determine the right coin to pick, discipline in reviewing prices is needed.

[Xampeuu]

The point is to have a strong intention and commitment, as well as to recognize market trends from day to day, especially in crypto trading. We are here like to play to avoid risk and play it safe.
In addition, to really be able to determine the right coin to pick, discipline in reviewing prices is needed.

The spirit to always want to learn makes us smarter in analyzing the market. on the other hand, by using the right strategy and high discipline, it will make us better in trading analysis. if we want to do daily trading, I think major coins can be an option

[Mauser]

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?

The most important thing when it comes to trading is to know how much we can lose. Risk management is one of my main focuses in trading and investing. It is much harder to make money than to lose it again. One bad trade could potentially eat away all our previous profits. That is why I think setting budgets is so important. Using all our money in one trade is to risky in my opinion. Diversification is very good for beginners, if instead of doing 1 trade we split our money into 5 different trades we are more protected. The chances of 5 trades turning sour is smaller. The second focus should be to have reasonable goals in trading. Smaller gains in the beginning can help build a portfolio.

[South Park]

I would say that the hardest thing for me while starting out was the fact that I didn't had enough funds to matter. My first ever crypto purchase (well I earned it, not bought it) was 25 dollars. It is really difficult to come from a very poor nation and try to have thousands of dollars in crypto, many people assume that it could be easy if you hit the right thing but when you have 25 dollars, even 100x would mean 2500 dollars, which is very good of course for me but not a big portfolio by any standard.

It took me years to get where I am today, I didn't keep it all on crypto, I spent it on many projects and bought myself some things that I needed (not fun related, just living stuff) and even made my living with it. So I would say that crypto did changed my life but it took me maybe 5 years to be where I am today, hence when starting out, people should realize, it is not easy to get rich in crypto, sure there are some lucky people who made a lot, but that is a very rare situation to be in.

I would wish that more people were like you, many people come to this market inspired by the stories they have heard about other people making a huge fortune in just a few months or week and they want to replicate the same results and most of the time they find too late this is not possible, the strategy that you were forced to take due to your lack of funds is in fact the right strategy, take your time with this market and if you let several years pass and you keep investing and getting paid in cryptocurrencies sooner or later you will come close to reach your goals, but this takes time and no one want to wait anymore.

[Patigi]

Before get into trading you  need to have knowledge about crypto and be financially balance. Not matter how research you did you will still lose but when you have the money you can trade with different coin either bitcoin or altcoins, and with this method you will no get into lost like that when you did good research about the coin to purchase.

[Anguwa]

Trading is not an easy task seriously, but some people skip learning and jump directly into trading which always end up in high regret and lost of capital. It's advisable to know the basics and the risk involved in trading also there are different strategies for trading that really helps out on how to manage and control emotions on trading. Having a good knowledge and understanding about trading always lead to profit.

[Hamphser]

Trading is not an easy task seriously, but some people skip learning and jump directly into trading which always end up in high regret and lost of capital. It's advisable to know the basics and the risk involved in trading also there are different strategies for trading that really helps out on how to manage and control emotions on trading. Having a good knowledge and understanding about trading always lead to profit.

If you do rush up yourself then you would really find yourself to have some problems later on and you would definitely lose up money because you dont know on what you are are doing which you would

really be having a hard time on how to handle up yourself on this market thats why you should really be prepared and make out proper research before you do really make out some engagement on this market.

Do your assignment first and later on that experience of yourself would be your stepping stone for you to make yourself way more better.

[iv4n]

Trading is not an easy task seriously, but some people skip learning and jump directly into trading which always end up in high regret and lost of capital. It's advisable to know the basics and the risk involved in trading also there are different strategies for trading that really helps out on how to manage and control emotions on trading. Having a good knowledge and understanding about trading always lead to profit.

It's not so bad to lose some money here and there, that can even be a great thing if you learned something from that. Every school costs, trading school costs as well.
I guess people should read about trading as they do some trades here and there, theory without practice will not get you far, of course, don't forget to risk what you can afford to lose, learn how to have backup plans and funds just in case.
Trading is a game like any other, more you know about it you will be better in paying it, so be open for learning new things and improving yourself and your trading skills.

[BigBos]

The point is to have a strong intention and commitment, as well as to recognize market trends from day to day, especially in crypto trading. We are here like to play to avoid risk and play it safe.
In addition, to really be able to determine the right coin to pick, discipline in reviewing prices is needed.

That is very true. however, for the first time, prepare your mentality and determination.
In the world of trading, it's like a roller coaster, which goes up and down quickly. however, if you don't do your research, you could get on the wrong roller coaster, and leave you unable to play anymore.
in terms of trading, it is not a question of funds. we know that some people start with minimal funds and now have a lot of assets. some people also enter the world of trading with a lot of money, but the trauma in their hearts comes out. however, you need to prepare mentally and your determination. after everything is ready, then do some research, and start trying.

[jaberwock]

for the first time, prepare your mentality and determination.
In the world of trading, it's like a roller coaster, which goes up and down quickly. however, if you don't do your research, you could get on the wrong roller coaster, and leave you unable to play anymore.
in terms of trading, it is not a question of funds. we know that some people start with minimal funds and now have a lot of assets. some people also enter the world of trading with a lot of money, but the trauma in their hearts comes out. however, you need to prepare mentally and your determination. after everything is ready, then do some research, and start trying.

Starting with smaller funds doesn't mean that you could turn it into something big very easily. I am a poor person coming from a poor nation, I am doing fine right now but when I first started my first investment was a very very small amount and then I worked really hard to get my investment higher.

It took me years to get it high enough to say that it is a worthy investment to talk about, before that I was looking for that extra $1 wherever I can find. This is why small funds is not something that I imagine easy to make a profit from.

Sure you could make a huge return if you are lucky, I had a friend who got something for free in exchange of the gas fee basically, and he sold it for 25k dollars as well, it was NFT and it turned to be a very valuable thing, hell even the new owner made a profit because it seems that it may worth as much as 100k right now but we are talking about 40 bucks or something in gas fee turning into 25k because he invested into the smart NFT. But, that is a very very rare situation.

[livingfree]

Before starting to work in this industry, a trader needs to have a certain level of experience.

He won't get any experience if he doesn't start so there's a need to start despite being less-experienced in trading. And that goes the start of it so that he'll gain experience, losing or winning.

Without this, the results of work can deteriorate significantly.

Definitely.

But even those with experience, they don't also get the best days most of the time as they trade.

[ItsCrafty]

Firstly you have to use that money which you have ability to lose and don't be sad after losing it. Because in trading there will be some profit and there will be some loss too, before entering into trading, mentally you should be also ready for the loss, and after that prepare yourself for the coins buying and making the entry on the right time.

[Fredomago]

for the first time, prepare your mentality and determination.
In the world of trading, it's like a roller coaster, which goes up and down quickly. however, if you don't do your research, you could get on the wrong roller coaster, and leave you unable to play anymore.
in terms of trading, it is not a question of funds. we know that some people start with minimal funds and now have a lot of assets. some people also enter the world of trading with a lot of money, but the trauma in their hearts comes out. however, you need to prepare mentally and your determination. after everything is ready, then do some research, and start trying.

Starting with smaller funds doesn't mean that you could turn it into something big very easily. I am a poor person coming from a poor nation, I am doing fine right now but when I first started my first investment was a very very small amount and then I worked really hard to get my investment higher.

It took me years to get it high enough to say that it is a worthy investment to talk about, before that I was looking for that extra $1 wherever I can find. This is why small funds is not something that I imagine easy to make a profit from.

Sure you could make a huge return if you are lucky, I had a friend who got something for free in exchange of the gas fee basically, and he sold it for 25k dollars as well, it was NFT and it turned to be a very valuable thing, hell even the new owner made a profit because it seems that it may worth as much as 100k right now but we are talking about 40 bucks or something in gas fee turning into 25k because he invested into the smart NFT. But, that is a very very rare situation.

At first for sure you'll be hesitating taking that move, high gas fees will kill your excitement but if you push forward and make things possible like what your friend did, look how far did he earned, luck or taking the big risk happened to be more profitable, you have to think wiser in order to follow those good projects and make yourself successful inside this business.

It's not an easy journey that most of the time, being percepts wrongly, it takes time before success will take place.

Hard work will help to establish a good working attitude. It's part of many pieces to succeed in dealing with this kind of business.

[kawetsriyanto]

before entering into trading, mentally you should be also ready for the loss

You must be ready both for the loss and the profits. Make sure you have good self-control, so you don't do something too exaggerated (overdo) once you lose money or gain money. Trading has no guarantee, we can lose or get profits. Especially for newbies, maybe to experience more losses than gaining profits. It is true if someone must have a strong mentality in trading crypto because he probably experiences a huge loss on his first journey. If he is not strong enough, he may quit suddenly once losing money.