My newbie trading experience

[AliMan]

Sometime early January 2021 I started my trading journey without anyone putting me through, I study the market movement of a particular token and analyze its weekly price volatility.
I started trading with $200 and within a month I made $450 including my capital. Since then I suffered a loss and have recovered but need trading knowledge that will take me to the next level with high profits.

That's normal for newbies to experience those things, but after  you learned important lessons managing trading can be done without any struggles. If you know how to control your emotion, I guess it wouldn't be hard to battle hardships in trading despite of being newbii. Mastery won't be achieved if you don't start from scratch.

[Luqman]

If you know how to control your emotion, I guess it wouldn't be hard to battle hardships in trading despite of being newbii.

Not only controlling emotion, having sufficient knowledge is the most important if you are in a newbie level. That's why newbies mustn't hurry to trade if they still have not enough knowledge. Knowledge will determine how to trade properly, it leads us to succeed in trading. Remember that one of the biggest factor why many newbies failed in trading because they have not enough knowledge. They just trade carelessly without knowing how to do it properly.

[Lordhermes]

My newbie trading experience was really a bad one because I lost reasonable amount of money.Instead of me to ask,make research and see how they go about trading,I wanted to do it myself without consulting anybody.
But as times goes on,I decided to mingle a little with people who already have experience in trading.And that was how I became a little good in trading.

[traderethereum]

My newbie trading experience was really a bad one because I lost reasonable amount of money.Instead of me to ask,make research and see how they go about trading,I wanted to do it myself without consulting anybody.
But as times goes on,I decided to mingle a little with people who already have experience in trading.And that was how I became a little good in trading.

Finally, you did a better thing related to trading. You realized that learning from other people who already had trading experience is necessary to get their experience and use it for ourselves.
If we can learn from many resources or discuss with other traders, that can also help us improve our skills, but we need to remember that what we did will not give a fast result and we need to keep learning.
If we can get something from those people, sooner or later, we will see that our chance to trade and make a profit will be bigger and once we see that, we do not have to show off and stop learning because that will prevent us from improving our skills better.

[Wiwo]

That's a great start, making profits means your approach to trading is effective, however, I think what you need to study next is risk management, you know, to avoid losses. Trading without any risk management knowledge will lead you to losses that you can't even afford, losses that will make you a very compulsive trader. Controlling your emotions is very important as well, so you can avoid entering blind trades without even doing a solid technical analysis.

Risk Management is an essential tool in trading that is why we always look out for analysis that can help manage the market volatility and unstable nature.
What is the solid analysis that I can lay my hands on I need some recommendations.

[tygeade]

What is the solid analysis that I can lay my hands on I need some recommendations.

RSI and moving average cross over, Fibonacci retracement are few effective strategies along with pivot point analysis or candle stick patterns. You may need to go through video tutorials to find out which analysis is suitable for you and your coin. In my opinion, all strategies are effective and in effective time to time hence not relying just one strategy will help traders for avoiding big losses.

You need to spend lots of time for finding and learning at least 5 different technical analysis and then you must spend 2x time on practicing those strategy on live markets with small capital. Then you may get clear idea on what to do and what should be avoided.

[Fredomago]

I must admit that from newbie up to now? i am a Trading loser  I don't know i really have no luck in finding Gems here in crypto market, yes i am sometime successful and sometimes a failure but never did find something that will change my days ,
i remember one project that i invested , and yes become successful even reached the Market Cap, but  ending being scamming lol.
thats why Nowadays i am very choosy in taking risk,  i only choose those given  by good trader friend and saved me from continues losing.

[pawanjain]

It's quite impressive you made a profit in trading, what coins are you trading, if i may know and how much time do you need to cover your initial loss so that you get back and make a profit of $450.

From your story, I judged that you started trading crypto with a capital of $200 and the coin went down, you lost, after that you got up again and made $450, so do you still trade on the same coin when you lose or you move to another coin, from the rest of your capital, so you make a profit.

The main thing to note here is that OP started trading in January 2021. This year was a rollercoster ride for the crypto market.
The market was pumping in the initial few months followed by the major correction.
This is when OP made profits and it's not a big deal to make profits in a pumping market.
Just holding any potential coin would make good profits. I would say OP needs to learn from various dips in the market and gain experience by practicing to trade regularly.
Only that will help a newbie in the long run.

[savetheFORUM]

I started trading with $200 and within a month I made $450 including my capital. Since then I suffered a loss and have recovered

Profits and then losses are most common for any crypto trader; you just need to maximize your number of profitable trades and should work on minimizing the losing trade numbers. It will be possible if you find time to learn continuously from your own experiences. Just do not trade but learn and trade; it means learn from your mistakes and from all market scenarios.

What is the solid analysis that I can lay my hands on I need some recommendations.

There cannot be anything solid in trading at first hand because all the strategies are vulnerable for losses at any time but I need to focus on minimizing your losses by letting your profit growing. These are all just matter of time because when you start learning then everything will become your usual habits.

[cheezcarls]

Sometime early January 2021 I started my trading journey without anyone putting me through, I study the market movement of a particular token and analyze its weekly price volatility.
I started trading with $200 and within a month I made $450 including my capital. Since then I suffered a loss and have recovered but need trading knowledge that will take me to the next level with high profits.

If you have taken out the profit and retain your initial trading capital, that would be a good move. This is how cryptocurrency market works. There are winners and losers. There’s no way that you can win always. Always expect the unexpected, just like what happened recently in the crypto market selloff.

It’s much better to spend more time learning how to manage your risks efficiently. Learning about trading skills is a good thing, but doesn’t guarantee or promise you profits in executing your trades.

[tvplus006]

My newbie trading experience was really a bad one because I lost reasonable amount of money.Instead of me to ask,make research and see how they go about trading,I wanted to do it myself without consulting anybody.
But as times goes on,I decided to mingle a little with people who already have experience in trading.And that was how I became a little good in trading.

This is not the worst path that you have had to go through. As they say in such cases, you have gained invaluable experience for your money, which is impossible to get without practice. Now it will be easier for you to analyze your mistakes and use new knowledge to avoid their repetition in the future.

[Masplanc]

It is fine you make this good profit as a newbie not having any guild from any one. But you still need knowledge to continue,  there are things you need to know before you start trading properly.  Learning first will profit you .

[Munir575]

Sometime early January 2021 I started my trading journey without anyone putting me through, I study the market movement of a particular token and analyze its weekly price volatility.
I started trading with $200 and within a month I made $450 including my capital. Since then I suffered a loss and have recovered but need trading knowledge that will take me to the next level with high profits.

Trading when you don't have knowledge about cryptocurrency is not a good idea. I started trading not long ago when i heard about a coin pumping without further research i bought the coin, i used my school fees because i was told in less than a month my money would have multiplied, the coin kept dumping and that was how i lost my money and had to struggle to pay my school fees because i didn't have knowledge about cryptocurrency. So then i knew i need proper knowledge and understanding of cryptocurrency and that is why i joined the forum.

[ReiMomo]

Even an experienced trader would come across loses. Losses are part of the journey. And it occurs when you close off the trade. In such cases, just leave as it is and wait for the market to get stabilized.

 There will be a growth certainly when you go for long term but yes patience is needed. But if you depend on a regular income from it then, spend more time in analyzing and choosing the right coin and setting up a bot. But still you need to watch out your bot activity and change features accordingly.

[Alisha-k]

It's good that even as a newbie without experience, you where able to make such huge profits, now one thing is sure and that is the fact that even as an expert, you can likely run at lose once in a while, the only difference is that, as an expert you may not have huge loses as a newbie especially once without trading knowledge.

It's a good thing you've decided to learn nevertheless, the forum is a good start, you could also download materials online and watch videos from YouTube, those guides would help....

[RealMalatesta]

the forum is a good start, you could also download materials online and watch videos from YouTube, those guides would help....

This forum always has lots of hints on what to do and where to start kind of things. Here, you may not get exact guides for you shaping yourself as a trader but you could find links of useful websites/videos which are essential for every trader from the beginning days to continuous learning for enhancing themselves to stay completive even after gaining enough experiences.

spend more time in analyzing and choosing the right coin and setting up a bot. But still you need to watch out your bot activity and change features accordingly.

If you still need to watch your trading bots then why not you go for manual trading. I never recommend anyone to go for bots based trading as my personal experiences with bots were not profitable as per the claims by its devs.

[Theones]

This might sound rude to you but you were just lucky to make some quick profits during the bull run and now when the bull run is over you are just struggling to make similar sort of returns. I think you need to learn new strategies which could suit this type of market because there is no one strategy which fits in all situations. Change your strategy back test in similar markets.

We have to adjust the trading strategy according to the current market conditions to minimize losses, if investing when the market is down it is advisable to wait until the bear market is over and the bitcoin movement is stable so that you can enter the coin of your choice for investment.

If you are doing crypto trading then you need to be prepared for losses more then profit. If you cant bear loss then don't do trading rather go for HODLing. Since chances of loss are less in Hodling then in trading. Trading works best in bullish market, as in bear market only experienced traders can made profit rest end up in loss.

[judaspriest]

This might sound rude to you but you were just lucky to make some quick profits during the bull run and now when the bull run is over you are just struggling to make similar sort of returns. I think you need to learn new strategies which could suit this type of market because there is no one strategy which fits in all situations. Change your strategy back test in similar markets.

We have to adjust the trading strategy according to the current market conditions to minimize losses, if investing when the market is down it is advisable to wait until the bear market is over and the bitcoin movement is stable so that you can enter the coin of your choice for investment.

If you are doing crypto trading then you need to be prepared for losses more then profit. If you cant bear loss then don't do trading rather go for HODLing. Since chances of loss are less in Hodling then in trading. Trading works best in bullish market, as in bear market only experienced traders can made profit rest end up in loss.

Trading certainly has risks and to minimize risks, namely losses, we need to trade with the right conditions,
in trading it's not just about buying and selling but we also have to monitor market movements at all times,
which is clearly not easy to trade and requires patience too of course

[GeorgeJohn]

I believe that developing the zeal of trading alone will make you to know the advantages and disadvantages of trading without the aid of anyone innovation, hoping on somebody that will impact a perfect knowledge of trading is quite right but since you have started the journey before now their is nothing much to learn about again than continuous practice with little amount of funds that will enable you to master the loopholes that will indirectly or directly cause lost to your trade.

On my own if I'm going for trading I don't really go with surplus finance or funds at first, the first time will go with smaller quantities of funds to experience how the day of trade will result out. And notes, that the only way you can overwhelmed trading is when you trade subsequently, with that errors of trading will be detectable by you without someone advice.

[sherenikaw]

for a beginner it's a good thing because you can get profit in a month. With that experience, of course, you can learn more to get a bigger profit. it's true that in trading we have to really think carefully about when is the right time to sell or buy coins in order to get a profit. As a beginner, seeing this makes me even more excited to be able to trade well. I hope I can do it well and make a profit.