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Author Topic: What should newbies do in trading?  (Read 1487 times)
mindrust
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December 12, 2023, 07:45:00 PM
 #41

You should learn to control your emotions. It doesn’t matter if you are winning or losing. If you get carried away, if you get emotional because of your losing or winning position, you will make mistakes and your situation will get worse. Remember it can always get worse. And you can go below zero in some games. (Trading with margin) Reading books, articles are fine but you will learn the best if you make the trades yourself. And you will lose some money too eventually. No trader wins all of his bets. If you can’t stomach losing then quit trading immediately and find a real job.

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December 12, 2023, 08:55:27 PM
 #42

I'm also beginner in trading. I trade since this summer and I lost about $90 on $120 account. Recently I make $20 on last $34.
Throughout my journey in trading, I read Jack Schwager's book, watched many educational videos on YouTube, read many articles on the educational sections of CEX exchanges, and also talked with many traders. It seems to me that I understand enough about technical analysis, trading systems and trader psychology. But I'm at a dead end and don't know what to do next. Other traders advised me to just trade, but I think that over time I will lose my remaining $45, and demo trading does not bring such emotions and I don’t want to try hard when trading it
Dont push yourself too much because if you do find yourself that being too stressed about on the trading you are making then you are just basically trying out yourself to be that desperate or really that in a rushed situation which we know that it isnt something good specially when you are making some trading. The key on here is that it isnt really that bad on researching up and trying out to familiarize everything specially on technicals considering that it would really be that relevant basing up on the career that you are taking but you should really be that wary that not everything would really be that depending on technical aspect on which it would really be something relevant to learn but we should know that there are other things like risks management, emotion handling and risks tolerance is something that you would really be needing to learn too because
if you dont make yourself that be wary about these things then you are really that putting yourself on a hard situation.

The key on here is that you shouldn't rush up, take everything slow pace manner so that you wont really be finding yourself in a rush or desperate situation because this is where usually
mistakes and errors could occur just because you cant really that easily think off well.

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December 12, 2023, 09:06:59 PM
 #43

I'm also beginner in trading. I trade since this summer and I lost about $90 on $120 account. Recently I make $20 on last $34.
Throughout my journey in trading, I read Jack Schwager's book, watched many educational videos on YouTube, read many articles on the educational sections of CEX exchanges, and also talked with many traders. It seems to me that I understand enough about technical analysis, trading systems and trader psychology. But I'm at a dead end and don't know what to do next. Other traders advised me to just trade, but I think that over time I will lose my remaining $45, and demo trading does not bring such emotions and I don’t want to try hard when trading it

And it just shows how trading is not for everybody, when we hear people specially around in the 2017-2018 era, wherein if my memory serves me right, there are a lot of members who quit their job thinking that they can make a lot of money from trading back then, obviously we are in the bull run that time and so it's a hard lesson for those who focus on trading and then quitting their job but not bringing enough money in the table. Again, the lesson here is that it might take some time and money to be able to make money in trading. So probably just take a small steps, and if you are going to lose that last $45 of yours, then make it count, learn from it and comeback strong. And as what the majority is telling, just "trade what you can afford to lose".

R


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December 12, 2023, 10:31:14 PM
 #44

What I want to encourage you is that a newbie should not rush into trading because the risk which is in trading is higher than the advantages, because when you have not known the procedures or the rudiments of Trading you may end up losing a numerous coins, like you have trade and make a profit so you might make such profit by luck and their is every possiblity that you might trade again and you lose, so trading requires learning and it's something you have to understand very well before learning.

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December 13, 2023, 04:26:34 AM
 #45

I'm also beginner in trading. I trade since this summer and I lost about $90 on $120 account. Recently I make $20 on last $34.
Throughout my journey in trading, I read Jack Schwager's book, watched many educational videos on YouTube, read many articles on the educational sections of CEX exchanges, and also talked with many traders. It seems to me that I understand enough about technical analysis, trading systems and trader psychology. But I'm at a dead end and don't know what to do next. Other traders advised me to just trade, but I think that over time I will lose my remaining $45, and demo trading does not bring such emotions and I don’t want to try hard when trading it
You have the answer right in front of you but you simply fail to see it, you are failing completely when it comes to money management as you lost 75% of your capital in roughly 6 months.

And while some may think this is not much of a problem as your capital was small, what will you do when you actually trade with your savings on the line? You need to learn more about how to deal with your losses and how to cut them short, everything else seems secondary to me at this time.
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December 13, 2023, 05:13:52 AM
 #46

Trading has big risks. And you (OP) haven't gone into too much detail about what trades you made, spot or futures? Futures have greater risk than spot. The potential for losing funds in a matter of minutes is very high. For beginners, spot trading may sound friendlier. Why do I say that? because when we make a spot purchase of Bitcoin and suddenly the Bitcoin price drops as long as we don't sell our Bitcoin, we haven't experienced a loss, but if the price goes up again and exceeds the purchase price we can make a profit as long as we sell it. Spot trading is safer and can be controlled as long as we understand buy low-sell high.

Sometimes newbies push themselves because they are interested in big profits and make silly trades and even trade futures without knowledge and experience.

Learn and find out as much knowledge as possible before jumping into trading and continue to learn from previous experiences. Try to avoid it and not make previous mistakes.
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December 13, 2023, 05:29:53 AM
 #47

You’re still on the learning stage, don’t rush things and stay within your course, you should be able to trade with less emotion and win it. Trading very well takes time, and there’s no overnight success here so if you are still a newbie, spend more time in learning first, set your limit and trade with your strategy using your own way to analyze the market, technical analysis can be a big help so make sure to learn it.

You share good strategies for traders so if someone stops to want an expeditious dividend then he cannot be triumphant. Trading is a mechanism to control person's emotions so he can catch enormous dividend. If someone fails again and again to make money then he should increase his timing to learn new then use this learning well instead of increasing amount of money.   

If a person is trading non stop and don't perceive appropriate solution to all problems then it means that he is trading according to the rules of gambling which is not consider as money Making mechanism. At start it will be hard to analyze the market therefore ask to other fellows for help but later through knowledge you can analyze the market by using your own expertise.



 

 

 

 

 

 


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December 13, 2023, 11:56:33 AM
 #48

A newbie does not need to go for trading for a first time. It is better you continue using the demo account until you have become better in trading. It doesn’t bring much emotion as you’ve said but it is better to learn in a demo account than a real one. If you want to go full into trading when you feel you’ve learned enough, just use the money you can afford to lose. There is a lot of emotions attached to trading, if you can’t control them, you’ll leave trading and lose a lot of money before you know it.
Using demo account will still engage them in trading but it was only free of cost and then eventually they will need to engage on their first real trade. You said that using a demo account doesn't bring much emotion, therefore you can't become better if you will only stick here and don't try real trading sometimes. Don't worry about the losses that you will get, as you can still recover them later on once you already learned.

Trading is about knowing the market, or the price movements. But, we still need to study hard before that. This is why you said the emotions here are a lot. I don't think we don't know once we lose money. There is only a reason on why we still continue.

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December 13, 2023, 12:53:48 PM
 #49

I'm also beginner in trading. I trade since this summer and I lost about $90 on $120 account. Recently I make $20 on last $34.
Throughout my journey in trading, I read Jack Schwager's book, watched many educational videos on YouTube, read many articles on the educational sections of CEX exchanges, and also talked with many traders. It seems to me that I understand enough about technical analysis, trading systems and trader psychology. But I'm at a dead end and don't know what to do next. Other traders advised me to just trade, but I think that over time I will lose my remaining $45, and demo trading does not bring such emotions and I don’t want to try hard when trading it

You know if you are going to do trading activity on any exchange, you should try as much as possible to make a profit every day you do it in actual trading. It doesn't matter how much you earn, as long as the important thing is that you train yourself to always make a profit.

Because if you get used to it every day, for sure every week and every month, you will make a profit. As long as you also learn to study deeply in the crypto trading industry that we live in.

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Natalim
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December 13, 2023, 02:01:14 PM
 #50

I'm also beginner in trading. I trade since this summer and I lost about $90 on $120 account. Recently I make $20 on last $34.
Throughout my journey in trading, I read Jack Schwager's book, watched many educational videos on YouTube, read many articles on the educational sections of CEX exchanges, and also talked with many traders. It seems to me that I understand enough about technical analysis, trading systems and trader psychology. But I'm at a dead end and don't know what to do next. Other traders advised me to just trade, but I think that over time I will lose my remaining $45, and demo trading does not bring such emotions and I don’t want to try hard when trading it
Since you've been doing this already and experiencing losses, the very first thing for you to do is to find out what causes your losses. Knowing the reason behind this will help you understand what are the things you need and what are the things that you need to improve. So there is a reason why you should not continue trading but rather address those things. We have to think that learning is very important in trading that is why we can't assume that we can make a profit from an empty mind, instead of losses.

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December 13, 2023, 02:10:30 PM
 #51

Since you've been doing this already and experiencing losses, the very first thing for you to do is to find out what causes your losses. Knowing the reason behind this will help you understand what are the things you need and what are the things that you need to improve. So there is a reason why you should not continue trading but rather address those things. We have to think that learning is very important in trading that is why we can't assume that we can make a profit from an empty mind, instead of losses.
The very first thing newbies should worry about is stopping losing money. Now those who will express their opinions will say that not a single beginner can do without losses, and this will be true, but I am talking about avoiding constant losses, and not losses at the start.

Most traders, even those who are not beginners, stop trading because they lose very large sums of money, they end up losing more than they earned, even after many years of their activity, so advice for beginners can be extremely simple, if you are learning, then learn from very small money, if even in this case you do not learn how to earn money, then there is no point in trading with big money.

R


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jaberwock
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December 13, 2023, 06:01:09 PM
 #52

Aside from technical analysis and fundamentals
even if you know it, don't get bored of studying as a beginner in trading, start with a low capital before that you must have basic knowledge
All succesful trader start as a beginners
 Trust the process and stay discipline
TA's are being given more importance in trading but it may seem harder than the FA. So as a newbie whose brain isn't that soft yet to absorb more knowledge and complicated stuffs, they can begin with the fundamental analysis first. It is better than if they will just trade randomly. The only way to earn, and earn more, is to keep improving and learning.

I guess no one will get bored earning money right? So, they won't also stop learning and keep on improving. Besides, the market moves from time to time in an unexpected manner. So we won't just need a one-time analysis here but we will also ride those waves with a new set of analyses.

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December 13, 2023, 08:53:48 PM
 #53

I'm also beginner in trading. I trade since this summer and I lost about $90 on $120 account. Recently I make $20 on last $34.
It seems you already find a better way in trading. Although you got a loss $90, but you finally could make a profit about $20. Maybe you traded in the wrong way previously, now you already trade in a proper way. I can understand if you didn't succeed suddenly in your first attempt in trading, you are just a beginner, right? However, although you still couldn't take profits with huge money, there is a good progress in your trading journey at least.

It seems to me that I understand enough about technical analysis, trading systems and trader psychology. But I'm at a dead end and don't know what to do next. Other traders advised me to just trade, but I think that over time I will lose my remaining $45,
Although you understand well the fundamental of trading but you have a lack of experience. Sometimes experience has a big role to determine the success in trading. So, don't give up! You probably will trade better when you already have enough knowledge. Losing the money is something normal in trading, it will give you an experience and a lesson to trade better. As long as you use small money in trading, I think it is okay. Don't too obsessed to get huge profits now!!

~ demo trading does not bring such emotions and I don’t want to try hard when trading it
Demo trading never gives you a real experience. It is just the way to understand basic things in trading. So, don't rely on demo trading to improve your trading!


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SPIN

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Ziskinberg
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December 13, 2023, 09:28:04 PM
 #54

I'm also beginner in trading. I trade since this summer and I lost about $90 on $120 account. Recently I make $20 on last $34.
Throughout my journey in trading, I read Jack Schwager's book, watched many educational videos on YouTube, read many articles on the educational sections of CEX exchanges, and also talked with many traders. It seems to me that I understand enough about technical analysis, trading systems and trader psychology. But I'm at a dead end and don't know what to do next. Other traders advised me to just trade, but I think that over time I will lose my remaining $45, and demo trading does not bring such emotions and I don’t want to try hard when trading it
You should know that trading can used up all your capital, that's why we are advised to trade at our own risk most especially that you are still starting to learn trading. Now, if you have fears from losing, then taking a break is what you should do. Know when to trade and know when to continuously trade. But if you this continuously, you will never overcome your fears if you keep taking a break from trading. Trading is a battle of mind and skills, at least you should know before you start to trade.

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December 13, 2023, 09:58:28 PM
 #55

I'm also beginner in trading. I trade since this summer and I lost about $90 on $120 account. Recently I make $20 on last $34.
Throughout my journey in trading, I read Jack Schwager's book, watched many educational videos on YouTube, read many articles on the educational sections of CEX exchanges, and also talked with many traders. It seems to me that I understand enough about technical analysis, trading systems and trader psychology. But I'm at a dead end and don't know what to do next. Other traders advised me to just trade, but I think that over time I will lose my remaining $45, and demo trading does not bring such emotions and I don’t want to try hard when trading it
Acquiring knowledge is different from acquiring skills in trading. You need constant exposure and trading in the market so you can be a good and reliable traders. In your case since all you got are just pure knowledge but lack of experience, expect that you will really suck your first trades. My advise is never start trading unless you are ready, and you are ready to lose as well. For now, just take a break and continue educating yourself in trading, at least you will know what to do in instances like that the next time you trade.

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Mate2237
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December 13, 2023, 10:26:58 PM
 #56

Welcome to the trading world. As a newcomers on the trading industry I will tell you that you should read and practice with the practical works though you will loss money oh but you have to stay put and learn every day. And as you trading with those small amount of dollar is good and sometimes you should try and use demo accounts to practice more because practice make you better. Yeah, it is good you using reading articles in the CEX and some brokers can be a help to you. Just look for a good broker a and person will direct you to enter the trading.

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SPIN

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gunhell16
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December 14, 2023, 08:37:48 AM
 #57

In this era, many newbie priests are stubborn. They rush into things they shouldn't. Yes, I felt the same feeling, but they must fight themselves to overcome it. Newbies don't rush to get a profit here in crypto trading. Make an effort to study crypto trading first.

It's not easy, as most newbies think it's easy. That's where you make mistakes, so in the end, the capital they use is easily lost because they think that the strategy they're using is right. Remember that no farmer plants rice seeds right away, but the first thing they do is till the land where they are going to plant the seeds. And when the seed is planted, it will take a few months to reap the harvest. The same is true in trading if you want to be a responsible trader.



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Volimack
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December 14, 2023, 01:40:07 PM
 #58

As far as I am concerned new traders should learn about what trading is all about. It is not an easy task to do if you are not experienced about trading. As experienced traders have made a profit by trading they have to put in a lot of effort. They also did not learn everything in one day so newbies should come to trading after knowing all the rules and tricks of the trade. Take time to learn trade evaluate the market based on your own experience do not rush.

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December 14, 2023, 02:19:12 PM
 #59

As far as I am concerned new traders should learn about what trading is all about. It is not an easy task to do if you are not experienced about trading. As experienced traders have made a profit by trading they have to put in a lot of effort. They also did not learn everything in one day so newbies should come to trading after knowing all the rules and tricks of the trade. Take time to learn trade evaluate the market based on your own experience do not rush.
We can't expect a newbie will have a good and profitable trade but rather expect more on losses. However, I could understand that situation because they are still learning, and losing is a part of it and the things that would help us to understand what trading is all about.
Indeed, there is an evaluation in the end, and this time we could decide if we are able to push through or stop. Perhaps, there are a lot of things that a newbie must learn and one of them is to accept losses and the 2nd thing is they must adopt the market volatility.

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December 14, 2023, 05:01:33 PM
 #60


It's not easy, as most newbies think it's easy. That's where you make mistakes, so in the end, the capital they use is easily lost because they think that the strategy they're using is right. Remember that no farmer plants rice seeds right away, but the first thing they do is till the land where they are going to plant the seeds. And when the seed is planted, it will take a few months to reap the harvest. The same is true in trading if you want to be a responsible trader.


​In the beginning of every business, no matter what, mistakes are always made by new people and these mistakes play an important role in improving the experience. Despite knowledge, experience and research about all these things practically one has to get into trading sometimes. In trading, we should never think that we will always make a profit. Profit and loss are everywhere but risk is high in trading.

A farmer is doing everything under a certain strategy, but still he should not ignore the risk of loss, because sometimes the farmers get less profit or loss. So in trading we always have to improve our strategy, but this does not mean that we will not lose in trading, but often even experienced traders may face losses. The most important thing is that we have to maximize our rate of return.









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