How did you overcome the hurdles and gain confidence to trade as a Newbie?

[Charmekkd]

Entering the world of Bitcoin trading can be both exciting and daunting, especially for newcomers. The volatile nature of cryptocurrency markets and the plethora of information available can sometimes overwhelm new traders.

Todays question i would share how we overcame these hurdles and gain confidence to trade as a Newbie?.

If you want to gain very strong confidence when trading bitcoin or altcoins. You just need to learn all the important things related to it. Because if your knowledge about bitcoin or crypto trading is very mature, I'm sure your self-confidence will be stronger. Because just think about the factors that make someone not have strong self-confidence. Of course the most prominent factor is lack of knowledge. Therefore, in bitcoin and crypto trading, this also applies. Therefore, when you want to start trading bitcoin or crypto, the first step you have to do is learn about it first. So that you can be more confident and be able to avoid bad things, such as losses or being exposed to fraud.

[boty]

Many newbies enter the crypto trading market with confidence because they got carried away by the hyped trend about it. That means, because of the height of their belief in the hype, they immediately decided to invest in a class of investment here in the crypto space.

Most of those newbies have zero knowledge of the crypto industry; that's why most of them are frustrated in the cryptocurrency business, and only a few have continued and are still learning it today.

If they decide to enter the crypto world just following the growing trend, I don't think they will be able to survive long in investing, because they don't have any knowledge about crypto so they will suffer losses easily, for those who continue to study the failures that have occurred. They will of course be able to survive the investments they make and will also be able to gain profits from the investments or trading they make.

[EarnOnVictor]

The information won't be overwhelming if proper and wise research is done. Seeing or reading something somewhere on the internet and believing it is not the right approach because the internet is full of falsified information and many sources are not to be trusted. So, a newbie should always double or triple check a piece of information that they read or see just so that they can keep their knowledge and information purely correct and not learn wrong things.

There is one more thing that new investors do which they shouldn't, they are always in a hurry, as soon as they enter the industry, they start looking for ways to start trading and earn money, they look for tutorials and signal groups to start trading, and that isn't the right thing to do. One should take things easy, start learning from the scratch if they have no knowledge and go slowly, there will be enough time for them to earn money but knowledge and experience is important for that.

Without a doubt the haste employed by newbies when trading the markets plays against them, they seem to believe that either the opportunities to trade will dry up, a ridiculous notion as there is always several assets giving huge profits at any given time, or they want to become rich as quickly as possible, since they think trading the markets is very easy, a notion that makes no sense either, as even if that was true then the more people will come to the market and increase the level of competition until trading was not easy anymore.

Trading has never been easy, only that people often believe so but they get to understand the real deal when they start trading. Experience is the master here and I can remember when I newly started trading, I believed I could easily be gaining on the very first day of my deposit due to the anxiety that all the things I needed to know were easy and I had already known them. But I was wrong, the first $1,500 I deposited went off within 2 days, this got me angry and I deposited another $750 which was lost in just a day. It went on and on like that until I gave up and started learning and trading more. In short, the journey was never easy and even the money that was meant for other purposes was wasted just because I knew I would get the code that unlocks the success in trading. Guess what, I later did... .

But it took me more than 10 years of wasted time and resources. This is why I always advise newbies to be calm and focus on learning and training, and even if they would deposit at all, let them start with ridiculously low amounts. Not that they will believe they can just hit it big in trading at first, regret has always been the end result in such a case.

[MIner1448]

Entering the world of Bitcoin trading can be both exciting and daunting, especially for newcomers. The volatile nature of cryptocurrency markets and the plethora of information available can sometimes overwhelm new traders.

Todays question i would share how we overcame these hurdles and gain confidence to trade as a Newbie?.

Confidence comes only with knowledge of the matter; if you hone your skills and abilities more and more and constantly learn, confidence comes on its own. In cryptocurrency trading there is no other way, either you are an expert, well-read and experienced, or an insecure user who constantly gives your profit to others.

[justdimin]

Trading has never been easy, only that people often believe so but they get to understand the real deal when they start trading. Experience is the master here and I can remember when I newly started trading, I believed I could easily be gaining on the very first day of my deposit due to the anxiety that all the things I needed to know were easy and I had already known them. But I was wrong, the first $1,500 I deposited went off within 2 days, this got me angry and I deposited another $750 which was lost in just a day. It went on and on like that until I gave up and started learning and trading more. In short, the journey was never easy and even the money that was meant for other purposes was wasted just because I knew I would get the code that unlocks the success in trading. Guess what, I later did... .

But it took me more than 10 years of wasted time and resources. This is why I always advise newbies to be calm and focus on learning and training, and even if they would deposit at all, let them start with ridiculously low amounts. Not that they will believe they can just hit it big in trading at first, regret has always been the end result in such a case.

That's the trouble with newbies, there is this roller coaster ride when you are trading. You start thinking you are going to be just like everyone else, then you realize you are not making profit like others and you start to think you won't, if you can push through that period and do fine, then you start to realize you are going to make money after all eventually when you get better and better.

This is the hardest ride, because not everyone can do the same thing and it does hurt you in the end, if people start thinking they will make a profit, and they end up with not getting anything then they will be quite upset about it, but that's a risk and they should try to avoid that as much as they can, this turns into thinking they won't be making and will just lose, then that's going to be quite troublesome as well and won't be all that easy. I think it's quite important to realize the best you can do will be just focusing on what you could do eventually by studying hard.

[Hamphser]

Trading has never been easy, only that people often believe so but they get to understand the real deal when they start trading. Experience is the master here and I can remember when I newly started trading, I believed I could easily be gaining on the very first day of my deposit due to the anxiety that all the things I needed to know were easy and I had already known them. But I was wrong, the first $1,500 I deposited went off within 2 days, this got me angry and I deposited another $750 which was lost in just a day. It went on and on like that until I gave up and started learning and trading more. In short, the journey was never easy and even the money that was meant for other purposes was wasted just because I knew I would get the code that unlocks the success in trading. Guess what, I later did... .

But it took me more than 10 years of wasted time and resources. This is why I always advise newbies to be calm and focus on learning and training, and even if they would deposit at all, let them start with ridiculously low amounts. Not that they will believe they can just hit it big in trading at first, regret has always been the end result in such a case.

That's the trouble with newbies, there is this roller coaster ride when you are trading. You start thinking you are going to be just like everyone else, then you realize you are not making profit like others and you start to think you won't, if you can push through that period and do fine, then you start to realize you are going to make money after all eventually when you get better and better.

This is the hardest ride, because not everyone can do the same thing and it does hurt you in the end, if people start thinking they will make a profit, and they end up with not getting anything then they will be quite upset about it, but that's a risk and they should try to avoid that as much as they can, this turns into thinking they won't be making and will just lose, then that's going to be quite troublesome as well and won't be all that easy. I think it's quite important to realize the best you can do will be just focusing on what you could do eventually by studying hard.

There would be no exemption if we so speak about that roller-coaster ride like into this market whether you are an expert or would be a noob. There's no way that we could be able to avoid.
The main difference here is on the knowledge and skills on the two on which it is that common sense on who do have the upperhand specially on dealing with this market.
Come to think that everyone starts on being a newbie so it is really that normal that they will really be making out actions which we know that it could be resulting into losses but we know
that if those losses arent present then people wont really be able to learn.

Overcoming hurdles and challenges would be entirely be depending on how you do welcome and how you do make adjustments into it. Its not simple or easy but doesnt mean
that it would be that impossible to learn up. Just dont make yourself in a hurry then you should be fine. Learning process or stage should be taken up seriously
and not on something that do speak about being too confident that they could do but on the time that they are on the field then this is where
things do start up.

[knowngunman]

My advice to new traders is
1. Make sure you invest what you can afford to lose and start with the smallest amount possible
2. Look for new coins with good partners, such as top exchanges and well-known investors
3. Research every coin adequately and go for a project with proper valuations and a shorter roadmap that can not trap your investments beyond the expected bull market
4. To be in a safe position, invest more in coins before Bitcoin halving and maybe 2 months after

The point you highlighted above are very useful but I think you're missing the point the op is coming from. What listed above are safety tips for investment and the op is talking about how one was able to gain confidence to trade when they were beginner. Let me clarify something based on my understanding, trading is buying and selling of assets within a short time frame in order to make quick profit and investment is buying of assets to hold for a longer period of time and sell when you are satisfied with the profits earned. So, as far as I know, trading and investment are two different things thou they are somehow related in the sense that they are both after making profits in the end. One can make use of these key points you mentioned aboved if they are interested to invest for a long period of time. I know the importance of diversification but you also need to be careful with new projects who have not proven themselves in the market.

[AnonBitCoiner]

Confidence comes only with knowledge of the matter; if you hone your skills and abilities more and more and constantly learn, confidence comes on its own. In cryptocurrency trading there is no other way, either you are an expert, well-read and experienced, or an insecure user who constantly gives your profit to others.

That's true if you have talent and know everything then your confidence will definitely increase because you will then easily use your talent to get benefit. But if you don't know what to do then you will shy to take forward step or if you take step and that step become wrong then your confidence and courage both will reduces. In trading you should be serious about your win and loss because its not about a single defeat but due to this single loss you will loss large part of your money.

Learn well to use your skills in trading and also read carefully the price graph which can help you to indicate market and then make a useful decision. Newbies often loss at start but if they use their skills then they can quickly become a successful trader as success always comes after get experience in trading.

[Bushdark]

Entering the world of Bitcoin trading can be both exciting and daunting, especially for newcomers. The volatile nature of cryptocurrency markets and the plethora of information available can sometimes overwhelm new traders.

Todays question i would share how we overcame these hurdles and gain confidence to trade as a Newbie?.

Confidence comes only with knowledge of the matter; if you hone your skills and abilities more and more and constantly learn, confidence comes on its own. In cryptocurrency trading there is no other way, either you are an expert, well-read and experienced, or an insecure user who constantly gives your profit to others.

One if the ways we can get confidence while trading is for us to keep trading so that we can develop a strong attitude to trading with confidence. Also using a strategy is one of the ways we can become a more confident trader because we would have tested the strategy and see if it works well for us. Gaining confidence as a trader is a matter of consistency for us to get to a level where we can boast about the strategy we are using and how to make it perfect. We alos need to trade with the necessary tools to become confidence in the market.

[Timmzzy]

Entering the world of Bitcoin trading can be both exciting and daunting, especially for newcomers. The volatile nature of cryptocurrency markets and the plethora of information available can sometimes overwhelm new traders.

Todays question i would share how we overcame these hurdles and gain confidence to trade as a Newbie?.

This question made me to remember a friend on CALL OF DUTY MOBILE as we were about entering game he asked me how do I get the confidence to take trades as in not get scared if I will loss or gain, there I said to him when your setups is right in your face and let's say u have flashcards of most previous trades that has same particular setups there you will be confident of the trade you are about to take, and to add on that trading is a 50/50 thing win or lose, so as you are about to embark on it just know that and know PEACE.

[peter0425]

Entering the world of Bitcoin trading can be both exciting and daunting, especially for newcomers. The volatile nature of cryptocurrency markets and the plethora of information available can sometimes overwhelm new traders.

Todays question i would share how we overcame these hurdles and gain confidence to trade as a Newbie?.

You don't have to dig in if you have no complete understanding and that is what you need to do as newbie , or else if you truly wanted to have crypto then best for you to temporarily invest and Hold while trying to learn how to trade.

In this sense you will lessen the chance of losing and also the chance of blaming everything because of your stupidity .

Newbie must not trade , instead newbie must HODL or study first , so there is no need for overcoming instead pursuing is what we need.

[dunfida]

Entering the world of Bitcoin trading can be both exciting and daunting, especially for newcomers. The volatile nature of cryptocurrency markets and the plethora of information available can sometimes overwhelm new traders.

Todays question i would share how we overcame these hurdles and gain confidence to trade as a Newbie?.

Confidence comes only with knowledge of the matter; if you hone your skills and abilities more and more and constantly learn, confidence comes on its own. In cryptocurrency trading there is no other way, either you are an expert, well-read and experienced, or an insecure user who constantly gives your profit to others.

One if the ways we can get confidence while trading is for us to keep trading so that we can develop a strong attitude to trading with confidence. Also using a strategy is one of the ways we can become a more confident trader because we would have tested the strategy and see if it works well for us. Gaining confidence as a trader is a matter of consistency for us to get to a level where we can boast about the strategy we are using and how to make it perfect. We alos need to trade with the necessary tools to become confidence in the market.

On the time that you do start up then it would really be always best that you should really keeping on engaging with trading because experience is the best teacher and this is something which it is normal.
Startup with small amounts and never ever make yourself that look like a gambler on who do really love on making some all in kind of trading. You wont really be able to go further if you do make yourself that
having that kind of behavior. Hurdles and challenges would really be along the way on which it is really that part of the learning process, even if you do consider out yourself to be that veteran or have been here
on this market for a while, you would really be still inevitably able to experience these things no matter what.

The difference on here is that whenever you are already experience then you do already know on what you should gonna do. You would really be able to gain that confidence on the time
that you would really be able to gain experience along the way.

[taufik123]

-snip-
Startup with small amounts and never ever make yourself that look like a gambler on who do really love on making some all in kind of trading. You wont really be able to go further if you do make yourself that
-snip-

As beginners, if they have a lot of financial support to trade, they will tend to use a fairly large amount to trade,
because they think any trade that uses a lot of money, it will make a lot of profits in an instant.

Though, it will be more risky to lose more money.
Moreover, trading with Futures Mode, beginners only second-guess the price and this is the same as gambling.
Liquidity's wrong guess will come and take it all.

Then you need good basic knowledge and self-control not to use all the money.
There must be good capital management for the trade to go as planned.

[Litzki1990]

The starting point of any business is very difficult for a businessman. It takes a lot of time for a trader to understand how to trade. Where other businesses require a lot of thought, trading in Bitcoin requires a little more thought and a little more challenge in the beginning. It is difficult for a bitcoin trader to make a decision in the beginning, a bitcoin trader starts his business from the dilemma of what decision to make for his business and which decision will go in his favor or which decision will go against him. I didn't think much about this bitcoin business in the beginning, since I started my business with a small amount of money in the beginning, the volatility of the market did not cause me to be restless, but I trusted myself and waited for the good market time. With enough patience, courage and self-confidence, I got through the beginning of Bitcoin trading.

[TakeSR20]

It is better not to have confidence and not trade if not following the trading rules.

If you're a newbie, confidence is the result of backtesting your strategy.
If you're an intermediate trader, consistency will give you more confidence.
If someone says that he is confident but didn't backtest and encounter many loses, he probably lying to himself.

Your level of confidence will decrease as you lose more money trading.

I fully agree with all these statements. On this post there are many answers mixed: some people giving advice as investors... others as traders.

But is important these kind of posts for newbies and for intermediates traders that find themshelves on a lost pattern (maybe there are not intermediate at all). I would like to point, based in my experience, what is needed to begin to trade for newbies with some confidence:

1. Read books and avoid paid groups, paid courses, youtube videos and so on. Reading books about trading has been the most fulfilling experience for me.
2. Understand the market via backtesting the asset, commodity, forex or crypto you want to trade.
3. Again, backtest an strategy that you think might work. At least with 10.000 candles, preferred 20.000 or more. (be happy to design strategies with a win ratio of 40%)
3. Don't trade in the first years with small timeframes (5m, 10m, 15m...). Better trade in 1h, 4h, 1d...
4. Paper trade during a period of 100 trades at least. That means live trading with a demo account or just writing the calls you would have taken, and why.
5. Make a log in excel of all of your trades, including emotions while opening, surfing and closing the trade.
6. Don't leverage more than 3x-4x, and be constant with the same leverage for all your positions on that pair.

To finish I want to share a sentence from Peter Brandt's book "Diary of a Professional Commodity Trader" that is so true: Like it or not, buy-and-hold strategies are a joke. Every decision you make in life represents a trade-off. Everything is a trade. Everything is a gamble.

Any strategy should outperform all crypto bullmarket-bearmarket.

[TelolettOm]

Entering the world of Bitcoin trading can be both exciting and daunting, especially for newcomers. The volatile nature of cryptocurrency markets and the plethora of information available can sometimes overwhelm new traders.

Todays question i would share how we overcame these hurdles and gain confidence to trade as a Newbie?.

It cannot be denied that trading is very difficult to get profits or gains consistently and to manage yourself to do it wisely and smartly. especially an newbie. However, that doesn't mean it's impossible. A newbie can also do extraordinary things if he is really serious about trading. Usually, they will study first to prepare themselves with adequate knowledge and really good skills and skills. especially with emotional maturity which may be done gradually. It's not easy to become a pro trader, but it can be done gradually through a process that is certainly not easy. As long as you don't actually trade with zero knowledge, of course a newbie can also develop well. Once again, make sure you can control yourself and your emotions so that you can survive in any condition.

[Rehan Zakir]

I know just one thing that practice makes the man perfect. If you do practice continuously then one day you will definitely succeed. I think trading is not a skill. It's a passion.
A trader always find opportunities in making profit. A best trader is who that wait for the right time to take entry in the market

[I_Anime]

Trading can be really challenging for both new and old traders. To be honest trading is not all about the number of advices given to you, normally all the advices are good but all that matters is how you follow them. So all you just need is self control and principles. know when to trade and when to not, know when to call it a day no matter the profit or the losses y. And focus more on lesser losses even when it make your profit low.
 
And don't forget always trade %1 of your cash as a new trader....

[JoyMarsha]

A newbie can only be confident in trading if he or she has mastered how to trade after learning it for several months or years depending on how fast he or she is. That's when the newbie will talk about being confident in trading.

For someone to call themselves a confident trader, they must have learned how to control their emotions long ago, not to be moved by tears even when lost a huge amount in trading. That takes a long while for someone to learn how to keep their emotions in check and choose a confident approach to their trading instead.

[Viscore]

Confidence comes only with knowledge of the matter; if you hone your skills and abilities more and more and constantly learn, confidence comes on its own. In cryptocurrency trading there is no other way, either you are an expert, well-read and experienced, or an insecure user who constantly gives your profit to others.

That's true if you have talent and know everything then your confidence will definitely increase because you will then easily use your talent to get benefit. But if you don't know what to do then you will shy to take forward step or if you take step and that step become wrong then your confidence and courage both will reduces. In trading you should be serious about your win and loss because its not about a single defeat but due to this single loss you will loss large part of your money.

Learn well to use your skills in trading and also read carefully the price graph which can help you to indicate market and then make a useful decision. Newbies often loss at start but if they use their skills then they can quickly become a successful trader as success always comes after get experience in trading.

Your experience in the market will always be a big factor to boost your confidence in trading. Despite of the losses you achieved through trading, you are also learning from them that makes you an improved trader in the process.Trading is not easy and it takes a lot of knowledge and skills for you to become a successful trader. If you know how to value your past trades regardless if they are wins or loss, that will be a good factor to make you a confident trader in the market.

Confidence is built through years in trading, and that will only happen if you don't quit easily despite of the struggles and hardships you experience in trading.