If You Could Start Over, How Would you Learn Day Trading

[michellee]

If I were allowed to start trading all over again, maybe I would have studied and practiced more to hone my trading skills and make a profit. Besides trading, I will also continue to be a holder because holding lots of bitcoins can give me big profits. And maybe I will also make a lot of strategies to deal with market situations that are always changing, even though I have made several strategies based on market situations. And maybe I'll focus on being a hodler instead of trading.

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[fullhdpixel]

Today is just the 3rd day of the second month of the year 2023. The 2022 showed us hell and we learned so many important lessons. Some were good, some were bad, and some were ugly nonetheless, there was a lesson learned. This question occurred to my while I was ruminating last night. I searched YouTube and got some answers but still I am itching to know hear the opinions of members of this community.
The Question: If You Could Start Over, How Would you Learn Day Trading?

I have started by learning the basics, like reading the charts, studying different patterns and strategies day traders use to maximize their profits and minimize the risk of losing money. Once I would get that done, then I would jump into a platform that offers trading with trial money just to learn how it's done. I would probably also watch a hell of a lot of videos teaching everything.

[Yamifoud]

I actually start knowing crypto trading by doing online research and by asking friends on social media, and it works fine for me until I reach my goal. If I start over, I will do the same but maybe this time, I was even more aggressive than before. Why? Because we already have a basis that crypto is growing, unlike before when every drop comes could make me think it was an end and then get crazy to sell. What I need to change is the behavioral approach to the market and I must carry such positivity so I can make good decisions and less mistakes.

[DoublerHunter]

I actually start knowing crypto trading by doing online research and by asking friends on social media, and it works fine for me until I reach my goal. If I start over, I will do the same but maybe this time, I was even more aggressive than before. Why? Because we already have a basis that crypto is growing, unlike before when every drop comes could make me think it was an end and then get crazy to sell. What I need to change is the behavioral approach to the market and I must carry such positivity so I can make good decisions and less mistakes.

^Everyone of us relies on online research, there is no one willing to teach us personally.
I have a little knowledge of trading but I did not pursue myself doing in trading because I feel I still lack knowledge of it. Trading requires not only technical analysis but also apply fundamental analysis, you need to learn both of them so that you will get an accurate result on your trading position. Yes, the market is going crazy and no one can predict what is exactly the result.

[lobo13hf]

I'd definitely learn about all the knowledge first before trying because honestly with trading most of the time newbies are wasting their money by doing some haste decision it's more like a bet.
meanwhile, they could easily use demo accounts available in many exchange just for educational purposes, but honestly there's not so much you could do even if you were to start over because the results always depends on your decision making, it's not like if you given second chance you'd make some significant difference, the results will basically the same.

[Mr. Magkaisa]

Today is just the 3rd day of the second month of the year 2023. The 2022 showed us hell and we learned so many important lessons. Some were good, some were bad, and some were ugly nonetheless, there was a lesson learned. This question occurred to my while I was ruminating last night. I searched YouTube and got some answers but still I am itching to know hear the opinions of members of this community.
The Question: If You Could Start Over, How Would you Learn Day Trading?

Here are the steps a someone said they will follow:

- Start with a simulator and treat the money like real money
- Find the right broker
- Find a mentor
- Find and join a trading community
- Keep a trading journal
- Find a success strategy and test it out.

    -   Do you suggest that it is good to trade with a Forex trading mate? It seems like that's what you mean, although there's nothing wrong with what you're suggesting, so if I'm aware of cryptocurrency, I don't think I'll do anything to look for a broker.

Besides, I learned to do trading without a broker as you say, although my others give suggestions here on this forum platform, which if I think what he said is right, he will be considered a mentor for me. I am learning from my trading experience, this is the best teacher because when my strategy is wrong, I realize that I should change this strategy so that this mistake does not happen again.

[maydna]

You can add one more, namely:

Try trading with real money besides trading through the simulator, so you also have real trading experience. This will be useful for you so that you can better understand where your weaknesses are in learning to trade.

Don't forget to learn to control yourself in trading, so you don't get emotional in dealing with situations on the exchange.

Never stop to learn more about trading so you can increase your skills.

[bitterguy28]

yeah, this is my biggest regret in life terming crypto world, that i did not pursue my Trading(dat trading to be specific) that i focus in Long term that lessen my ability to read the market.
but I don't doubt my decision because I knew trusting all my coins on hold will bring me fortune in the future, or maybe not me? but my children for sure.

You can add one more, namely:

Try trading with real money besides trading through the simulator, so you also have real trading experience. This will be useful for you so that you can better understand where your weaknesses are in learning to trade.

Don't forget to learn to control yourself in trading, so you don't get emotional in dealing with situations on the exchange.

Never stop to learn more about trading so you can increase your skills.

wait , what is it ? is there something to do with the simulator here in this thread when we are talking here how to start over ? simulator is for starters and the real money os tfor the real thing.

[wajik-tempe]

If You Could Start Over, How Would you Learn Day Trading?

My version is going to be:
1. Decide on a trading strategy that fits my personal style and goals. Consider factors such as risk tolerance, market analysis, and trading tools.
2. Practice with a demo account, most trading platforms offer demo accounts that allow us to practice trading with virtual funds. This is a great way to gain experience and refine our strategy without risking real money.
3. Recording my trades and analyzing my performance can help identify strengths and weaknesses and improve strategy over time.
4. Continuously monitor your trades, stay disciplined and avoid making emotional decisions.

It's important to note that day trading cryptocurrency can be risky and there is the potential for significant financial losses.

[rodskee]

If You Could Start Over, How Would you Learn Day Trading?[/b]

Here are the steps a someone said they will follow:

- Start with a simulator and treat the money like real money

most of us have learned this eventually but admit it that even you have lost your money first before trying this way of trading learning.

- Find the right broker

Well , this is hard to find as our money will be entrusted .

- Find a mentor
- Find and join a trading community

these 2 might be joining together because I also have some mentor from the community I find in groups.

- Find a success strategy and test it out.

all of those are written above , so yes I will choose all of those for my sooner investments.

[Fondarchand]

First of all you should learn from your fellows as well as videos so it will helps you to involve in trading and get beneficial outcomes. I just think that even experts can also make mistakes so just start from lower amount will help you to trade better because they will have two advantages first is that if unfortunately you loss that money so you will recover it soon after making investment in other coins and the other benefit is that you will learn from this small amount if you win then your cash will multiply.

In Day trading people always will be active and focus on day trading. There are available some books about trading so learning from these books can also helps you more successful results.

[WatChe]

If I could go back to the beginning I would do a few things differently.

For one I wouldn’t go into trading stock options. Those were a big mistake. I never understood delta or IV or IV crush and what not. Most of all the options I bought expired worthless.

Second I wouldn’t join any paid groups or buy any of those ebooks teaching how to trade. They are all scams out to get your money.

And if I have to start over then I will never do this day trading since to me trading in crypto is about investing for a long duration. DCA and your profit will be secured. There are people who do trading and are still in profit but this is something not for me.
Everyone who has tried these signaling groups would say this but irony is that people keep on investing in them. So this cycle will continue as long as new people are willing to buy membership of these groups.

[Silberman]

I'd definitely learn about all the knowledge first before trying because honestly with trading most of the time newbies are wasting their money by doing some haste decision it's more like a bet.
meanwhile, they could easily use demo accounts available in many exchange just for educational purposes, but honestly there's not so much you could do even if you were to start over because the results always depends on your decision making, it's not like if you given second chance you'd make some significant difference, the results will basically the same.

Demo accounts are valuable as they allow you to make all kind of mistakes without suffering the repercussions this would entail if you were trading with real money, but they still have limitations, once you get good at using your demo account and you even become profitable there is still a lot of work to do, as even if the mechanics of using a demo account and trading for real money are the same the emotions you will go through when trading for real are completely different and way more intense than what you will experiment when trading with a demo account.

[Flexystar]

Instead of finding mentor one can go for professional tuitions that are made into various courses or modules. They will guide you step by step from investing into the crypto space and how to trade them. One of the friend from circle did same thing and he is gaining nice exposure on his own these days and already got what he invested on his tuition fees. I can vouch that, if you are going to learn from tuitions then that's really going to help you in the long run without doubts. Many of them actually making it career. Rather than going into lets say science backgrounds they would choose the trading as option and invest more energy learning and practicing them. Obviously when we start, we should always start with the practice account only.

[Silberman]

Instead of finding mentor one can go for professional tuitions that are made into various courses or modules. They will guide you step by step from investing into the crypto space and how to trade them. One of the friend from circle did same thing and he is gaining nice exposure on his own these days and already got what he invested on his tuition fees. I can vouch that, if you are going to learn from tuitions then that's really going to help you in the long run without doubts. Many of them actually making it career. Rather than going into lets say science backgrounds they would choose the trading as option and invest more energy learning and practicing them. Obviously when we start, we should always start with the practice account only.

It is a good thing that your friend was able to find a professional tutor and that things are going nicely for them, but just as everything else there are a lot of scammers out there which charge high fees for their classes and then they do not teach you anything useful, and then you are left as you were at the beginning except that now you have even less money than when all began, so it is important to always be careful as you never know what you may encounter out there.

[Bananington]

If You Could Start Over, How Would you Learn Day Trading?

If many people had a chance to start again, they will start the better way which I believe starts by first finding a teacher and mentor who will teach and easily guide them on the right simulator to start with is the first very important step. A good teacher and mentor will show you a good trading community to join, recommend a good broker, and nurture you into a right strategy for that has a high chance of success. With a good teacher and mentor you will not experience as much losses as you did when you started on your own without mentorship or anyone to talk to.

[Franctoshi]

Starting up trading over again, I will strictly only trade with spare money, basically the money I used to spend on some Bottle of beers, Lost my heard earned money back to back by blowing up several of my funded accounts as a newbie and on the process of learning. Literally I was funding my account then with about 70% of my salary into trading, crazy right?, which caused me a whole lot of set back, And that's a mistake I'm not going to ever do again.

[Cling18]

It will never be too late to start over again in trading. We all know that trading is a long process of learning and it will be an edge if you'll know about all of its aspects including day trading. As long as we have the time to study day trading then we should grab the opportunity to learn about it. It will be a risky and challenging thing but since there are already resources that we can find online, we better dare to study it. You can look for a mentor but you can also learn it yourself but be ready for the possible losses as it is part of the learning process.

[goaldigger]

There’s always a chance to start over and restart your trading strategy, with this I will always choose to spend more time in learning and don’t focus that much on making profit during my early time as a trader.

There’s a lot of good reason to stay focus, trading is not that easy as what we usually think because it can be exhausting and frustrating as well especially if you can’t still find your winning strategy. Its ok, as long as you are not giving up trading will still be good for you. Continue to learn until you find the best strategy, it will be worth it.

[lalabotax]

- Start with a simulator and treat the money like real money

I think that using demo account for trading learning is a good way. I ever done it and this really works. but when applied in the real trading it seems to be quite different because it is a market. However, as long as we understand how the market flow, how to analyze the chart indicator, and how to manage our emotions during trading, this may be much better to do trading. Although it will be still difficult moreover sometimes, our mood in trading will be up and down.

Find and join a trading community

This will also be really helpful moreover if we find the right group to discuss and share experiences about trading. It can be done in the real life or even by joining the group on social media, commonly it will be via telegram or discord. However, we must be smart in choosing the group whether it will really fit and work for us or not. There must be still an evaluation of it.