Trading tips that helpfull for beginners

[MFahad]

All the points are very necessary and one who will follow these rules will get big profit easily. First of all individual have complete command on what he choose and have overall knowledge because if you don't realize the actual thing then you will face many difficulties as getting profit in crypto is not an easy task.

You should know that risk will always be there and if you take any wrong decision due to risk then don't think it as a last step towards success but this mistake will open new ways of learning and acquiring knowledge which aids in your bright future.

Selection of project should be make with wise mind because it will select whether you have to get profit or not.

[1715003772]

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[1715003772]

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[jeraldskie11]

Trading Strategy:
As beginners, you need to set up a strong strategy for entry and exit points. There are a lot of experienced persons available on YouTube that provide you signals for entry and exit from the market. Stick to your strategy and avoid making emotional decisions based on market fluctuations.

It's challenging to find a YouTube strategy that works for you. The majority of the material there is incomplete, which is why it is confusing us. I tried it before and discovered SNR and confluence with EMA 50 as dynamic resistance and support. I made money at first, but I gradually lost it because you don't just jump into the market and find those strat to entry; you have to analyze at the macro time frame first to identify the trend and then find a setup in the lower time frame that has the same trend as the macro.

[Russlenat]

These are important trading tips for beginners. It's crucial to stay informed, have a strategy, choose reliable exchanges, secure investments, be wary of scams, continuously learn, stay disciplined, have patience, manage your emotions, be prepared to adapt to changing market conditions, always prioritize risk management for long-term success, and remember that trading is a journey that requires perseverance and continuous improvement. They should appreciate this advice and guidance!

I believe all these advices will be very helpful on the part for beginners. However, we should also be aware that newbies have only limited knowledge and experience in the market so we cannot expect that they will be able to follow all of these. But I believe the more they stay in the forum, the more they stay informed, and the more they’ll be able to experience mistakes and losses, and maybe after experiencing it, they’ll be more keen observers and invest with caution in the crypto market.

[Viscore]

Nice beginner guide and advice,  but you failed to mention an important point that can help the beginner to minimize the risk involved in trading and reducing losses which are to trade with a small amount as a beginner and not get greedy by putting in large sums of money because of the potential profits most especially in future trading which is almost same as gambling.

Investing with a bigger amount at first due to greed will only increase the chance of losing. Hence, it’s not advisable to do it, instead start with minimal amount and never be greedy enough to expect quick returns because that will lost your focus in trading. Know that trading requires more focus and persistence, that’s why you need to trade at your own risk, and at the capital you’re free to lose.

[milewilda]

Nice beginner guide and advice,  but you failed to mention an important point that can help the beginner to minimize the risk involved in trading and reducing losses which are to trade with a small amount as a beginner and not get greedy by putting in large sums of money because of the potential profits most especially in future trading which is almost same as gambling.

Investing with a bigger amount at first due to greed will only increase the chance of losing. Hence, it’s not advisable to do it, instead start with minimal amount and never be greedy enough to expect quick returns because that will lost your focus in trading. Know that trading requires more focus and persistence, that’s why you need to trade at your own risk, and at the capital you’re free to lose.

You would 101% lose all of those capital that you had put up on doing trading specially when you are a complete newbie, this had been always the case for most beginners on which they do have that kind of thinking and impression that they could handle themselves easily on trading field or playing along with the market but once that reality would slap into their faces then this is the time that they would really be making realizations that its never been that simple nor easy on doing so. The most ideal thing to do first is to stick with the basics, learn up the necessary terms and other things which needs to familiarize first, if its needed for you to go demo trades then do it but it would be recommendable on doing live trades but using up on the less amount which you could only afford to lose and on the time that you do make trades then try to learn up things along the way.
Never ever make yourself put in a hurry when dealing up with the market, you cant really just able to make things to be that a pro in a short time. You would really be able to experience lots of trials and
errors when it comes to this matter.

[tjtonmoy]

~snip

I guess you can also add "Do not overtrade" and "Do not go after losses".

You need to know when to stop. If you keep on trading thinking the more you do the more you'll learn, in that process you won't learn anything. You will make a huge loss if you are a newbie by doing this. In the end, you will be left with nothing to trade with.
So, take a break every now and then. Analyze your past trades and try to figure out where they went wrong or right. Also, our brain needs time to process everything. If you overtrade, you will fill your brain with more information that the brain will be unable to process at once. And you will learn literally nothing. So in order to be successful in the long term, you should avoid this.

Not going after losses is also very essential to become a good trader. Don't get emotional about the fact that you need to win back what you just lost. What's gone is gone. Forget the past but take lessons from it. Move on to the new one. Regret will hold you back in the past and won't allow you to live your present or see your future.

Risk management could also be added here. It is best to practice risk management from the early stages. It will bring confidence and less error in future trades.

[AnonBitCoiner]

People often enters the crypto market for getting profit but they don't have actual knowledge which is totally wrong way of entrance. Sometimes people select that coins which have no future because of unawareness and they did not have make any research about the coin so learning through videos and from experts through Telegram groups are most important technique to obtain successful results.

Trading needs time so if you don't give your precious time to trading you will not be aware of the market situation due to which you will not make beneficial selection. Realizing market situations and go according to it will be suitable for you to buy and sell your coin.

[Japinat]

Risk Tolerance :
Define your trading goals it,s may be short-term or may be long-term gain. If you prefer actively managing trading by market news then the shot trade is the best option for you. Profit and loss depend on the risk high risk may give you a high gain or high loss but a good strategy cover it deeply.

Beginners won't understand this too early. What they need to have is to have more experience and gain more knowledge through it and then this will be learned.

This also includes the amount that they want to trade and to start with because not everyone starts big already and that's the entire process that a beginner should go through.

Beginners only goal is to make profits, and that they are not much aware on having some risk tolerance. But as they go on with their experience in the market, consistently making some trades, while gaining more knowledge and honed some skills, they will definitely discover it on their own. As they can’t be successful in their trading career without takings some risk and learning how to minimize or reduce the risk in it.

[freedomgo]

Reliable exchanges:
Choose that one exchange that good with the user and has a good background, Portability, Efficiency, security, and provides friendly interference in the market.

This is one of the biggest challenges in trading, finding the perfect exchange, the best would have been decentralized ones, but they don’t have much liquidity and also many trading features like the centralized ones. Then the centralized ones no matter how reputable they are defeats the purpose of anonymity and privacy through collection of KYC details, with also the risk of losing your funds when they get compromised.

The best way to beat this when trading on centralized exchanges would be using two or more of the top exchanges. This way one will be able diversify there funds into many different exchanges and as such minimizes the risk of closing everything when a particular exchange get compromised.

You know it’s hard to find reputable and reliable exchanges as all of them claimed to be on top of the market, leading from the rest of the trading exchanges. That’s the reason why we need not to stick with a single CEX, but have different exchanges for diversity of our coins. That is to avoid losing all our coins in an instant in just a single exchange, and by putting only minimal amount of it, that will also lessen the risk from losing.

[Natalim]

DEMO account - is good for beginners and I encourage newbies to do this and acquire ideas, knowledge, and skills that we can apply in actual trade, However, we can't expect that it gonna be the same experience in doing actual trade because this will include mix emotions that certainly affect our decision making in when to buy and when to sell. Therefore, if we are already good at using a demo account, we can't say that we are also good in the actual trading scenario as everything will change, yet we can still apply the learnings we have.

[Cryptomultiplier]

The tips are very important, if one intends to become successful with it, or build a skill out of it. We have professional traders.

Besides the point you mentioned for beginners to get familiar with and excel in trading, there's also the point of being aware of the emotions that accompany trading.

Beginners need to know that when they can confidently trade without listening to dominant emotions of fear, pride, greed or hope, we can say they have become good traders.

[lalabotax]

These six tips are actually owned and implemented by traders, especially beginners who want to learn trading and want profits. Apart from that, there are several additions, such as:
- Emotional management
  This is very important because if we are able to manage our emotions well, then we can control ourselves and control our emotions in any market conditions. We will not easily become greedy, panic, or other things that can damage all our preparation and readiness for trading. What's more, if we can control our emotions, we will be prepared for all the risks we might face.

but unfortunately, not many newbies are willing to learn and prepare themselves well. Even of all the tips, maybe only a few of them do, because moreover they want something instant.

[shinratensei_]

DEMO account - is good for beginners and I encourage newbies to do this and acquire ideas, knowledge, and skills that we can apply in actual trade, However, we can't expect that it gonna be the same experience in doing actual trade because this will include mix emotions that certainly affect our decision making in when to buy and when to sell. Therefore, if we are already good at using a demo account, we can't say that we are also good in the actual trading scenario as everything will change, yet we can still apply the learnings we have.

thats true, in using DEMO account usually there's no burden of losing money therefore the decision that comes out usually logical ones.
when it comes in investing for real, usually its gonna be a whole lot different story, there will be so much more pressure and it will be different as you said since such pressure affects greatly on our emotions.
demo only good for getting some insights and at the very least tasting how the markets are.
but for one to be truly succeeds in trading in general, they'd require massive effort of trying out the real markets with real money.

[samcrypto]

DEMO account - is good for beginners and I encourage newbies to do this and acquire ideas, knowledge, and skills that we can apply in actual trade, However, we can't expect that it gonna be the same experience in doing actual trade because this will include mix emotions that certainly affect our decision making in when to buy and when to sell. Therefore, if we are already good at using a demo account, we can't say that we are also good in the actual trading scenario as everything will change, yet we can still apply the learnings we have.

Demo account I think only last for a week, so you can't expect to learn everything from that DEMO account.
Before making an account with any exchanges, make sure you do have background knowledge already about trading especially its fundamentals.
Trading is not easy to learn but the good thing right now is that, there's a lot of resources available online, you can just easily search it and do your best to learn it.

[arwin100]

DEMO account - is good for beginners and I encourage newbies to do this and acquire ideas, knowledge, and skills that we can apply in actual trade, However, we can't expect that it gonna be the same experience in doing actual trade because this will include mix emotions that certainly affect our decision making in when to buy and when to sell. Therefore, if we are already good at using a demo account, we can't say that we are also good in the actual trading scenario as everything will change, yet we can still apply the learnings we have.

Demo account I think only last for a week, so you can't expect to learn everything from that DEMO account.
Before making an account with any exchanges, make sure you do have background knowledge already about trading especially its fundamentals.
Trading is not easy to learn but the good thing right now is that, there's a lot of resources available online, you can just easily search it and do your best to learn it.

There are demo apps available so they can use that to practice their trade and I also see that Demo account is also helpful since it can lessen the financial damage cost by any unwanted trades. Although trading is really hard to learn but if you are consistent on what you are doing then for sure you can learn this once you experience all ups and downs in the market. Also newbie should be resourceful to search for more ideas or tutorials that can help them since there are so many available online and they should search it if they want to be a good trader.

[GreatArkansas]

Risk Tolerance :
Define your trading goals it,s may be short-term or may be long-term gain. If you prefer actively managing trading by market news then the shot trade is the best option for you. Profit and loss depend on the risk high risk may give you a high gain or high loss but a good strategy cover it deeply.

Among the list, this for me is more important. Because most of the new in trading are struggling with risk, some started with low capital but complain about profits or start with big capital.
Having risk management will solve it because it will help you to become a good trader and a good decision-maker. It will also help to protect your capital which is the most important when you are trading.

[fauzan Ichsan]

DEMO account - is good for beginners and I encourage newbies to do this and acquire ideas, knowledge, and skills that we can apply in actual trade, However, we can't expect that it gonna be the same experience in doing actual trade because this will include mix emotions that certainly affect our decision making in when to buy and when to sell. Therefore, if we are already good at using a demo account, we can't say that we are also good in the actual trading scenario as everything will change, yet we can still apply the learnings we have.

Demo account I think only last for a week, so you can't expect to learn everything from that DEMO account.
Before making an account with any exchanges, make sure you do have background knowledge already about trading especially its fundamentals.
Trading is not easy to learn but the good thing right now is that, there's a lot of resources available online, you can just easily search it and do your best to learn it.

There are demo apps available so they can use that to practice their trade and I also see that Demo account is also helpful since it can lessen the financial damage cost by any unwanted trades. Although trading is really hard to learn but if you are consistent on what you are doing then for sure you can learn this once you experience all ups and downs in the market. Also newbie should be resourceful to search for more ideas or tutorials that can help them since there are so many available online and they should search it if they want to be a good trader.

demo accounts are very helpful for beginners to learn about the rigors of the world of trading, but keep in mind that many people find trading easy on a demo account, but later it will not be so easy on a real account either. usually a sense of arrogance will appear while following a demo account, and will find real difficulties when trading on a real account. That's because trading includes psychological pressure as well that must be overcome to carry out the strategy that will be applied

[CarnagexD]

all these are valid points to guide a beginner in trading, but the most important of all is having primary knowledge about trading, which is your first point. some newbies to trading do have some kind of thoughts about trading as something that can save them from poverty, and the only reason they could have such thoughts is when they don't really have good knowledge about trading. for someone who has no better knowledge about trading, they cannot even think of how to work on develop their own strategy; some of them will only rely mostly on copy trading, which is not a very good way of trading.

Also never forget to always set realistic expectations. Most of the time, beginner traders are great traders, they are good analysts who can predict prices accurately. However, they couldn't push a button smoothly. They messed up on their own psychology. It's already got into their TP but they don't take profit. Why is that? The answer is simple. They don't know yet what to expect, what to see, and what to experience.

The best tool to overcome that is to have a journal. Take not of how they feel greed and fear, then how they overcome it. Overcome they will build that real skill. Because trading strategy is the easiest. It's the psychology that is the most important.

[Latviand]

Of all the tips listed by OP, demo account is the one that I can attest to be the best one for beginners, no risk since no real money is involved and you gain the valuable experience for trading, you can go crazy on how you trade and see what happens if you were to do it. Many other people in this forum would disagree with me though, they see demo account or paper trading as a waste of time because they don't like not getting paid when trading.

[michellee]

What @OP gave are good tips for beginners so they can learn from those tips. I prefer to learn to trade and practice it with small money until the beginner really gets used to the analysis lessons he got. This is to make him not depend on other people's advice about when he can enter the market and can determine when to enter his market.

By improving the ability to analyze market conditions, he can know what to do. He can also find the right coin to trade because many people or beginners still rely on trading signals from other people. This is risky because we don't know whether the signal will occur or miss. After all, each person's ability to analyze cannot always be precise or accurate.

But by having better analytical skills, he can analyze himself and whatever is happening with the market, he can determine when he can trade. And if he doesn't see an opportunity to trade, he won't even try to enter the market.