Can you help out a newbie trader please?

[Yamifoud]

         

               What I really want is to understand what I should befocusing on first as a trader or which skill should I strive for first. I am bormbarded by the knowledge that are out in the open I am confused what I must prioritize. Is it Fibonacci, price action, orderblocks, amd so on the list just jever ends. I would really appreciate if someone can point me towards the right knowledge I should strive to acquire first.

Based on your stories and experience, I believe you already have the idea and knowledge of trading, and you also have the skills. What I just say to you is to improve the level of your skills and work on your strategies as well. You don't need to use all the trading tools and even acquire a number of strategies, you only need to use the strategy(ies) that is/are effective base on your experience. I suggest keeping them rather than trying a new one.

Spot trading or Leverage trading? choose the one that you are good and comfortable with.

[1714625232]

1714625232

[1714625232]

1714625232

[1714625232]

1714625232

[Xal0lex]

               As the title says, will any be so kind as to help an aspiring trader like me? I have read and watched dozens of articles and videos online as long they are free but I still suck at trading and the patterns along with the ways never seem to work. I only do 5x-10x leverage which is why I still have a few left to trade but still, these losses are just so discouraging. I've been in groups about trading but instead of learning I get ridiculed. I try my best but all the information available online are soo intimidating and are bombarding me. I do not know where to focus and I am at the verge of giving up. Making this post is my last push to learn trading. Some may suggest paid knowledge or getting myself a mentor but too bad it's pretty expensive for me right now. I just hope someone here can suggest what I should focus on learning about first or what strategies to focus on first as a beginner. Thank you so much for anyone who would help.

Why do you want to trade? Do you want to lose money? 95% of people lose money trading. You're also trying to use leverage to accelerate your deposit to zero. Trading is a dangerous profession and even if you take a course somewhere, it guarantees absolutely nothing that you will start making money right away. If everything were that easy, everyone would be millionaires by now.

I would recommend you to reconsider your attitude to all this and devote your time to study the crypto industry for further proper investment.

[Gi01]

               As the title says, will any be so kind as to help an aspiring trader like me? I have read and watched dozens of articles and videos online as long they are free but I still suck at trading and the patterns along with the ways never seem to work. I only do 5x-10x leverage which is why I still have a few left to trade but still, these losses are just so discouraging. I've been in groups about trading but instead of learning I get ridiculed. I try my best but all the information available online are soo intimidating and are bombarding me. I do not know where to focus and I am at the verge of giving up. Making this post is my last push to learn trading. Some may suggest paid knowledge or getting myself a mentor but too bad it's pretty expensive for me right now. I just hope someone here can suggest what I should focus on learning about first or what strategies to focus on first as a beginner. Thank you so much for anyone who would help.

First and foremost, you need to understand trading and investment. Reading articles and watching videos is a good habit/step to understanding the crypto market but you need to know what you are doing and also have a plan. Trading is all about understanding the market. If you read all these articles and watch all these videos without understanding the crypto ecosystem and market, you shouldn't trade. The best advice I can help you with is to have an investment plan and understand the market. If you are still having issues, you should consider liquid staking and long-term investments. With liquid staking, stakers have an annual percentage yield they earn. When you understand liquid staking, you can easily grow your portfolio without doing any hard work.

[lornadane]

               As the title says, will any be so kind as to help an aspiring trader like me? I have read and watched dozens of articles and videos online as long they are free but I still suck at trading and the patterns along with the ways never seem to work. I only do 5x-10x leverage which is why I still have a few left to trade but still, these losses are just so discouraging. I've been in groups about trading but instead of learning I get ridiculed. I try my best but all the information available online are soo intimidating and are bombarding me. I do not know where to focus and I am at the verge of giving up. Making this post is my last push to learn trading. Some may suggest paid knowledge or getting myself a mentor but too bad it's pretty expensive for me right now. I just hope someone here can suggest what I should focus on learning about first or what strategies to focus on first as a beginner. Thank you so much for anyone who would help.

Why do you want to trade? Do you want to lose money? 95% of people lose money trading. You're also trying to use leverage to accelerate your deposit to zero. Trading is a dangerous profession and even if you take a course somewhere, it guarantees absolutely nothing that you will start making money right away. If everything were that easy, everyone would be millionaires by now.

I would recommend you to reconsider your attitude to all this and devote your time to study the crypto industry for further proper investment.

Yes it's true that many people now choose to trade, they think trading is an easy thing.
Even though 60% of them lost a lot of money when they bought the wrong coin for trading.
And I totally agree if we prefer to invest only with coins that have potential.

[dwinrs]

some traders have also experienced losses that are not small, that's the risk of being a trader!! So don't give up, don't despair, don't rush and keep learning. remember being a professional trader is not an instant thing

[GeorgeJohn]

You can't venture into trading without knowing the basic concept of trading, at least knowing the elementary foundation of cryptocurrency
trading will make you understand or microscope the loopholes of trading, because without done that you will adventure into huge lost of capital. I will advice you to make more research of trading by downloading articles of trading and read, also watch some basic analysis via YouTube channel or video, so after going through them all, i think you will be able to understand the concept as a newbie before you continue your trading.

[asyakashi]

There is actually a lot you should learn before jumping into the world of cryptocurrency if you are a newbie.
The first is what is your goal, if you trade, you must learn fundamental analysis and at least technically understand the basics.
Not only that, learning asset management and experience is also very necessary, if you are satisfied with all that then it is time to really target consistent profits from the money you invest.

[BlackBaron]

I only do 5x-10x leverage which is why I still have a few left to trade but still, these losses are just so discouraging. I've been in groups about trading but instead of learning I get ridiculed.

If you do not have the ability to analyze market patterns, it is not recommended to trade leverage because it is very risky, you better learn to trade properly and practice for market accuracy in spot trading. I even prefer spot trading to leverage trading because it is very risky to lose margin when market conditions are volatile.

[maydna]

I only do 5x-10x leverage which is why I still have a few left to trade but still, these losses are just so discouraging. I've been in groups about trading but instead of learning I get ridiculed.

If you do not have the ability to analyze market patterns, it is not recommended to trade leverage because it is very risky, you better learn to trade properly and practice for market accuracy in spot trading. I even prefer spot trading to leverage trading because it is very risky to lose margin when market conditions are volatile.

You are right. Leveraged trading is more difficult than spot trading because when the market moves against our position, we have already experienced a loss, and it will get bigger if we don't know when to close the trade. But it's different from spot trading because when the market moves downwards, you do lose in value, but you don't pay for the loss, and you can get back in profit when the price goes up again. It is better to try spot trading first and get the hang of it before trying leverage trading.

[Beparanf]

some traders have also experienced losses that are not small, that's the risk of being a trader!! So don't give up, don't despair, don't rush and keep learning. remember being a professional trader is not an instant thing

The OP is a risk-taker that using x5 to x10 leverage on his futures trading despite he has no deep knowledge on market analysis. Even professional traders experience losses in trading but pro traders never take huge leverage when they are doing futures trading especially in crypto since the volatility of the is both up and down in a just a split seconds so your position will always hit stop loss or liquidation if you have a regular position size which typical traders has.

[serjent05]

It is not always late to restart and start learning the basics again .  Oftentimes, when one is lost on its path (trading in yours)  it's always effective to go back to square one.  Review the basics, internalized them, then you can go from there.  Just one step at a time.  If you established a good foundation in trading, it will greatly help you in your future trading ventures.  And most of all don't rush things.

[Semar Mesem]

In my opinion to become an expert in trading always takes time and experience, the best thing a newbie does is dare to try, don't be afraid to lose or be wrong because we will learn from mistakes, remember that nothing is instant, if we want instant it is better to choose gambling.

[evilgreed]

               Still reading through the newer responses and most are just the same responses. While others do contain some good advice, none has really lead me to a specific subject or topic that I should focus on about as an aspiring trader. I would really love to be pointed into a specific type of topic or grouo of topics that I should focus on first and knowledge about which knowledge should he combined with another to improve my trading progress. If anyone can tell me this I would really appreciate it. Regardless, I thank everyone who shared their thoughts for all the efforts to help.

[Fantomaz]

I would not suggest to trade, I would discourage to trade because trade is very risky!

It's like 50% chance, if you are right, if price goes up or not. Nobody can predict market moves because market is volatile everytime.
Trade is considered as a very risky bet and we can save a lot of money if we stay away from it.

[Pujangga]

No one becomes an expert without going through the newbie process, as we know that the thing that distinguishes a newbie can be successful and become an expert is the courage to try and learn from mistakes, never give up and stop when we feel like a failure, continue to focus on the goal and make things happen. what we do as an experience, I'm sure the newbie will be successful soon.

[andriarto]

It is not always late to restart and start learning the basics again .  Oftentimes, when one is lost on its path (trading in yours)  it's always effective to go back to square one.  Review the basics, internalized them, then you can go from there.  Just one step at a time.  If you established a good foundation in trading, it will greatly help you in your future trading ventures.  And most of all don't rush things.

many people fall into a hasty attitude, so they get the opposite result, because at first their perception is wrong, where trading is a quick way to get money, especially when we see a pump happening. therefore mental processes and training in real trading, as well as reading trading knowledge from books will be better, as far as I read in the book, psychology is very long to discuss, because this will bring traders to have rational thoughts and build their own trading empire

[Kelvinid]

No one becomes an expert without going through the newbie process, as we know that the thing that distinguishes a newbie can be successful and become an expert is the courage to try and learn from mistakes, never give up and stop when we feel like a failure, continue to focus on the goal and make things happen. what we do as an experience, I'm sure the newbie will be successful soon.

Indeed. Not all had come to that very short experience and they become successful, it all comes to a process.
There are some reasons that make some traders fail,
  1. Courage
  2. Disappointments
  3. Mindset

Quitting sometimes will be the best option but that is not the thing we have to think about first, we have to find a way that could help it out.
Success should be at the top of our minds.
 

[Zackgeno96]

Start mastering the basics such as the support and resistance trading or trend line trading as well as the volume trading and if you already master it you can start with the simple indicators such as the EMA and using RSI to have more accurate analysis in the market. Hiring a coach that will guide you would also increase you to become a better trader but if that is out of the option you can try some free courses that would teach you about trading.

[evilgreed]

Start mastering the basics such as the support and resistance trading or trend line trading as well as the volume trading and if you already master it you can start with the simple indicators such as the EMA and using RSI to have more accurate analysis in the market. Hiring a coach that will guide you would also increase you to become a better trader but if that is out of the option you can try some free courses that would teach you about trading.

               Finally! A response to my post that is actually leading me to a topic I should start learning first! I have basic understanding of these already and a bit about bolingerbands but don't know how to use them in unison yet but at least I know now that I should prioritize them first and the order on which I should proceed with. And about the free courses, if there are are options that you know of, it would be great if you could take the time to share them. I have found a few on youtube but yes, I'm trying to look for the best out there. Thanks again brother.

[MinMan]

We have lots of good traders in crypto right now and I believe that not all of them subscribed for a paid lesson or similar kinds because not all have the money. Luckily there are free tutorials on the web and as well as on this forum that help them to become a better trader. I did a little searching and I got this link here > https://bitcointalk.org/index.php?topic=3140089.0 I hope that somehow helps you on your journey.

According to your explanation, I can see that you lack of focus and you are a bit confused. You should work that trait out, as that can affect you when learning how to trade. If you are to try your skill, start on lower risks first and see if you're doing good, if yes then that should be the start of increasing your risk.