Share Tips For Newbie Traders

[Bananington]

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

Truthfully, trading has been a waste of time to some people and to others it has not. A way to identify the category you will fall into is to assess your situation and know if you have profited or if you are on the road to profiting from trading. Personally anything I commit myself to that gives me money in small amount, I believe that with more commitment can give me more. Trading a few times, It has not just all been losses, I recorded a few gains so I knew I was not wasting my time. An indication of a waste of time would have been if I was losing more and found whatever I was given as a tip difficult to understand, that is a good indicator that trading is not for someone.

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[Bobrox]

I don't think have any specific tips for newbies when start trading, actually I know cryptocurrency and started trading in Bitcoin just reading with several tips on google and basic information about how to make deposit and withdrawing when having cryptocurrency funds. Actually need close friend when starting trading in cryptocurrency and keep consistency update every bad or good news in daily days to know when right time start investing or selling trading assets.

I have good and bad experienced during beginning trading in cryptocurrency until right now, I am happy if you want ask several basic information about trading and welcome sharing for you, but I don't have any accurate predicting about which one coins have to trade between as short or long term trading.

[temple]

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

Truthfully, trading has been a waste of time to some people and to others it has not. A way to identify the category you will fall into is to assess your situation and know if you have profited or if you are on the road to profiting from trading. Personally anything I commit myself to that gives me money in small amount, I believe that with more commitment can give me more. Trading a few times, It has not just all been losses, I recorded a few gains so I knew I was not wasting my time. An indication of a waste of time would have been if I was losing more and found whatever I was given as a tip difficult to understand, that is a good indicator that trading is not for someone.

Whether some activity is a waste of time or not should be more in line with your expected utility. If I trade two hours one day and earn 200 USD, it might not have been a waste of time. The next day I trade for two hours and lose 200 USD, and out of a sudden the investment of two hours was a waste of time. Trading is a lot about luck because ultimately you are competing with bots and algorithms. Unless you have some meaningful advantage in information, making money from trading is more about luck I think.

[wxa7115]

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

Truthfully, trading has been a waste of time to some people and to others it has not. A way to identify the category you will fall into is to assess your situation and know if you have profited or if you are on the road to profiting from trading. Personally anything I commit myself to that gives me money in small amount, I believe that with more commitment can give me more. Trading a few times, It has not just all been losses, I recorded a few gains so I knew I was not wasting my time. An indication of a waste of time would have been if I was losing more and found whatever I was given as a tip difficult to understand, that is a good indicator that trading is not for someone.

Whether some activity is a waste of time or not should be more in line with your expected utility. If I trade two hours one day and earn 200 USD, it might not have been a waste of time. The next day I trade for two hours and lose 200 USD, and out of a sudden the investment of two hours was a waste of time. Trading is a lot about luck because ultimately you are competing with bots and algorithms. Unless you have some meaningful advantage in information, making money from trading is more about luck I think.

This is not accurate, trading is and will always be about your skill and your ability to implement your strategy as you should, using such a short sample to tell that what you have been doing is a waste of time is a mistake as even a winning strategy can produce long drawdowns.

This makes backtesting your strategy critical as you need to test your strategy for a long enough period so you can see how your strategy performs on different market conditions and assets, and if you obtain positive results then being on the red for some time will not be enough to shake the confidence on your strategy.

[Hyphen(-)]

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

My trading passion will always make me feel as if everything I do is correct; I will never consider it a waste of time.
Determination always leads to success, so spending the entire day studying and trading will never be a waste of time for me because, in the end, I will smile when I see the profit I made during that time period.

[Hypnosis00]

Trading can be a lonely and boring business at some point because, you do not have anyone to talk to and are just alone with your computer, phone, or tablet in your room, just trading. And many newbies may at some point think that they are probably wasting too much of their time. If you are in this situation right now, I want you to know that you are not wasting your time.

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

Perhaps, it was useless facing in front of your computer doing nonsense business rather than making money. It feels boring for those who don't love trading but for me, I was comfortable living on it. While the others are talking outside, watching videos, and wasting their time...I was busy making money. Besides, you are not trading the whole day. I only spend 2-3 hours on the computer, meaning I still have plenty of time to engage in other activities and even family bonding. We owe our time and it depends on us how to manage them.

[Rigon]

Wasting time varies from person to person. If I work at a job that generates income of $10 an hour, then trading will be a waste of time if I cannot generate $3 an hour. Likewise, if I am unemployed and cannot find a job, then $3 is more than enough.

Adequate time is required for trading. He will never be able to achieve success in trading platform if he does not give time to trading platform. Trading is not enough for a job that can earn $10 an hour. You must give yourself enough time to trade. After giving enough time when he sees that his trading is losing, he will lose patience and it will be a waste of time for him on the trading platform. But yes the trading platform will be suitable enough for those who do not work and spend their time sitting all the time. If they can earn $3 to $10 per hour or per day it will be enough income for them.

[death69]

Trading can be a lonely and boring business at some point because, you do not have anyone to talk to and are just alone with your computer, phone, or tablet in your room, just trading. And many newbies may at some point think that they are probably wasting too much of their time. If you are in this situation right now, I want you to know that you are not wasting your time.

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

Perhaps, it was useless facing in front of your computer doing nonsense business rather than making money. It feels boring for those who don't love trading but for me, I was comfortable living on it. While the others are talking outside, watching videos, and wasting their time...I was busy making money. Besides, you are not trading the whole day. I only spend 2-3 hours on the computer, meaning I still have plenty of time to engage in other activities and even family bonding. We owe our time and it depends on us how to manage them.

Tradnig is the real deal when it comes to making bank and havin a good time, but not everyone can handle it, and thats tottally kool. It's essential to do something you love and not just because its a money-makin machine. Trading isnt just sittin in front of your comp all day long, man. It takes a ton of prep and research before making any decisions. The market is always fluctuating, so we need to be flexible to snagg oppurtunities. Time management is key in trading. You can make cash and still have time for othr stuff, but you need to be disciplined and have a tight schedule. At the end of the day, you gotta find something you love and can make a livin from. For me, tradin is not only a way to make a quick buck but also a passion that gets me hyped.

[wxa7115]

Trading can be a lonely and boring business at some point because, you do not have anyone to talk to and are just alone with your computer, phone, or tablet in your room, just trading. And many newbies may at some point think that they are probably wasting too much of their time. If you are in this situation right now, I want you to know that you are not wasting your time.

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

Perhaps, it was useless facing in front of your computer doing nonsense business rather than making money. It feels boring for those who don't love trading but for me, I was comfortable living on it. While the others are talking outside, watching videos, and wasting their time...I was busy making money. Besides, you are not trading the whole day. I only spend 2-3 hours on the computer, meaning I still have plenty of time to engage in other activities and even family bonding. We owe our time and it depends on us how to manage them.

Each person has their own preferences, just as there were people that were going crazy due to the lockdowns caused by the pandemic, there were others that did not suffered because of this at all.

So while some people trade the markets and they feel miserable about it even if they are making money, there are others like you which enjoy it, so you are lucky as not only you have the skills to become a successful trader but you also have the right personality for a job like this.

[Questat]

Wasting time varies from person to person. If I work at a job that generates income of $10 an hour, then trading will be a waste of time if I cannot generate $3 an hour. Likewise, if I am unemployed and cannot find a job, then $3 is more than enough.

Adequate time is required for trading. He will never be able to achieve success in trading platform if he does not give time to trading platform. Trading is not enough for a job that can earn $10 an hour. You must give yourself enough time to trade. After giving enough time when he sees that his trading is losing, he will lose patience and it will be a waste of time for him on the trading platform. But yes the trading platform will be suitable enough for those who do not work and spend their time sitting all the time. If they can earn $3 to $10 per hour or per day it will be enough income for them.

I'm not sure about your strategy for trading and your time management but I don't spend the whole day trading. If we can spend 5 hours on the computer, that I consider enough for the day...we need also a break. But in this case, we just earn 10$ an hour, I think that was enough to compensate for the day, like having 50$ is big enough for newbies, but a pro-trader can perhaps do more. Generally, it was not a waste of time to just roam around spending money and time on unnecessary stuff.

[inthelongrun]

I never experienced boredom when the times I trade regularly. The price actions and the thrills were there most of the time. And I used to have a lot of online friends in crypto and many of them are trading as well. So we were sharing tips, ideas, and analysis. I feel I was wasting too much time and effort when I had bad months. Usually, a month or two bad months and I quit being an active trader again.

This time I am starting to do random trades again but most of the analysis came from people I am confident and then I just make a simple review if I can follow their charts. This way it saves me time and effort. But I cannot deny that once I am trading again, it is tempting me to focus into trading again which may not be bad during bullish periods.

[Peanutswar]

To the newbies always follow those fundamentals which is supporting the basics we know how does it really important even though its easier to forget still its an essential thing, better to make a confidence with your positions and don't get carried away if you feel lose always make your path follows with your goals. The most basic but most of the traders forgot is the Stop Loss and Take profit always set and don't forget your positions this can burn your wallet.

[borovichok]

To the newbies always follow those fundamentals which is supporting the basics we know how does it really important even though its easier to forget still its an essential thing, better to make a confidence with your positions and don't get carried away if you feel lose always make your path follows with your goals. The most basic but most of the traders forgot is the Stop Loss and Take profit always set and don't forget your positions this can burn your wallet.

Fundamental and technically analysis in trading should be critically studied by newbies inother to achieve their target in the crypto space. In order for a novice to achieve the necessary requirements to become a trading pro, it takes time and consistency before becoming an expert. Although setting up a trading account for a beginner can be challenging at first, with practice, they learn how the market functions as a whole and how to handle pressure. Only the ignorant and greedy ones experience severe losses and portfolio liquidation. Depending on the state of the market at the time, TP and SL are either positively or negatively activated.

[Nrcewker]

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

My trading passion will always make me feel as if everything I do is correct; I will never consider it a waste of time.
Determination always leads to success, so spending the entire day studying and trading will never be a waste of time for me because, in the end, I will smile when I see the profit I made during that time period.

Everything is good until and unless you see profits. Once you see red signals or losses, then you start questioning yourself and your capabilities. Trading isn’t sure more. In trading there are enough losses as we as profits. But people prefer trading over gambling because the risk involved here is less and we can further minimise the risk. Now at the end if you are a newbie trader, then your first objective should to acquire knowledge. See the charts, history of coins and see how and when the coin grows. After acquiring sufficient knowledge, trade with extreme caution and without greed.

[Obari]

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

I believe that basically, what matters is that we are making money and footing out bills and no matter the nature of one's job, as long as it pays off legitimately then I wouldn't see it as a waste of time. There was no day trading was boring to me because I made some good money from it and to me, anything that gives me money at my convenient times is always fun to me and beside I traded more of synthetic indices and I never felt for once that I was wasting my time.
I came across trading in bite to find a find a source of income from staying at home and trading was tye way out as at then and passion in what one is doing truly matters alot and you shouldn't be doing things if you don't have the passion for it and that's mostly when it might seem boring to you.
Trading is fun and never boring especially with a bottle of beer.

[Lanatsa]

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

I believe that basically, what matters is that we are making money and footing out bills and no matter the nature of one's job, as long as it pays off legitimately then I wouldn't see it as a waste of time. There was no day trading was boring to me because I made some good money from it and to me, anything that gives me money at my convenient times is always fun to me and beside I traded more of synthetic indices and I never felt for once that I was wasting my time.
I came across trading in bite to find a find a source of income from staying at home and trading was tye way out as at then and passion in what one is doing truly matters alot and you shouldn't be doing things if you don't have the passion for it and that's mostly when it might seem boring to you.
Trading is fun and never boring especially with a bottle of beer.

If you do find that trading is fun then so be it but its true that when you do have the passion then you wont really be able to make yourself that being forced to be doing on this because that would really be not a good thing on something that you wont really be that happy.Trading is not an entertainment thing but rather its an investment or a business which you do need to be serious and trying out your best to be
efficient and profitable as much as possibly.

You could really sustain up your living in speaking with finances if you do the right thing.Although this isnt something simple that could really be acquired by someone in speaking of skills.
Just dont make yourself been rushed up because this would create desperation.

[Hypnosis00]

snip~

Perhaps, it was useless facing in front of your computer doing nonsense business rather than making money. It feels boring for those who don't love trading but for me, I was comfortable living on it. While the others are talking outside, watching videos, and wasting their time...I was busy making money. Besides, you are not trading the whole day. I only spend 2-3 hours on the computer, meaning I still have plenty of time to engage in other activities and even family bonding. We owe our time and it depends on us how to manage them.

Each person has their own preferences, just as there were people that were going crazy due to the lockdowns caused by the pandemic, there were others that did not suffered because of this at all.

So while some people trade the markets and they feel miserable about it even if they are making money, there are others like you which enjoy it, so you are lucky as not only you have the skills to become a successful trader but you also have the right personality for a job like this.

It was not lucky but I've found out that trading is a passion and a reason why I keep doing this. Many had quit or even not tried because they feel hard and pressured when doing this unlike us who have the hearts of doing this. For real traders, it doesn't matter how long we stay on the computer as long as they are doing good. But of course, it needs sometimes a break and spending time on other activities as it was not healthy anymore to have everything on the computer.

[DoublerHunter]

snip~

Perhaps, it was useless facing in front of your computer doing nonsense business rather than making money. It feels boring for those who don't love trading but for me, I was comfortable living on it. While the others are talking outside, watching videos, and wasting their time...I was busy making money. Besides, you are not trading the whole day. I only spend 2-3 hours on the computer, meaning I still have plenty of time to engage in other activities and even family bonding. We owe our time and it depends on us how to manage them.

Each person has their own preferences, just as there were people that were going crazy due to the lockdowns caused by the pandemic, there were others that did not suffered because of this at all.

So while some people trade the markets and they feel miserable about it even if they are making money, there are others like you which enjoy it, so you are lucky as not only you have the skills to become a successful trader but you also have the right personality for a job like this.

It was not lucky but I've found out that trading is a passion and a reason why I keep doing this. Many had quit or even not tried because they feel hard and pressured when doing this unlike us who have the hearts of doing this. For real traders, it doesn't matter how long we stay on the computer as long as they are doing good. But of course, it needs sometimes a break and spending time on other activities as it was not healthy anymore to have everything on the computer.

^ Definitely right and it is also important to balance that with taking breaks and engaging in other activities to maintain one's overall health and well-being. Spending prolonged periods on a computer can lead to physical strain and mental exhaustion, making it crucial to take regular breaks and engage in activities that allow for rest and rejuvenation. By finding a healthy balance between work and leisure activities, traders can maintain their productivity and overall health over the long term. Just look round and don't focus on one activity.

[Rockstarguy]

And many newbies may at some point think that they are probably wasting too much of their time. If you are in this situation right now, I want you to know that you are not wasting your time.

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

Trading is determination, as a beginner you may not be having exactly what you want from trading but what keeps one on is determination and learning, with this in trading one will hardly give up. Putting more effort to know better pays alot , no wastes his/her time in doing these because at the end of everything it will definitely yield better profit.  If one is doing right thing that needs to be done in trading as a beginner,  their is no doubt about it that it will later turn out good.

[xSkylarx]

And many newbies may at some point think that they are probably wasting too much of their time. If you are in this situation right now, I want you to know that you are not wasting your time.

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

Trading is determination, as a beginner you may not be having exactly what you want from trading but what keeps one on is determination and learning, with this in trading one will hardly give up. Putting more effort to know better pays alot , no wastes his/her time in doing these because at the end of everything it will definitely yield better profit.  If one is doing right thing that needs to be done in trading as a beginner,  their is no doubt about it that it will later turn out good.

That is why, in the first few months, a newbie that is learning to trade will be facing hard times. I just remember before that I tend to quit, then after a month I get back again because I lose hope due to my losses and am not patient enough, but as time goes by, your mistakes and the experience you'll gain are the best teachers, so keep pushing hard and don't lose hope. Rest if you are tired, as for sure you'll be fruitful once you've got that strategy that you are looking for.