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Author Topic: What should newbies do in trading?  (Read 1488 times)
adpinbr
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March 08, 2024, 07:59:07 PM
#81

I donít just really know much to see about this to you, but my advice is continue whatever youíre doing ask questions, read, book, analyze use some pastry to judge your present and donít be scared to take the risk continue what you are doing. I believe you should know the right thing to do after reading the books and following the Trading trends and also remember to go into CoinMarketCap and see how everything is going down and try to come into the forum anytime you have challenge and donít be scared to take ricks. Secondly, be Patient on what you are doing concerning Trading donít ever be greedy. Focus read continue donít stop whatever youíre doing ask questions you before concluding.



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March 09, 2024, 02:16:15 PM
#82

Exactly Demo account is only for gaining experience. I have seen people advising that do lot of trades with real money and itís alright if you lose few initial trades. I mean why there is need to gain experience with real money, when you have option for demo account. Many new traders arenít also aware of this demo trading thing. Another way a newbie can make good profit, if he or she doesnít greed for more profits. Set smaller targets and once it fulfils, just exit the market.
Some traders feel that demo accounts do not give you the full trading experience and this is why they disregard them, and while they may have a point when it comes to the emotions you may feel when you trade with real money, since there is no way for a demo account to help you to simulate those feelings.

There is no doubt in my mind that demo accounts have their place as they allow you to familiarize yourself with the trading platform you are using, and at the same time you can test your strategy knowing that no matter what happens you will not lose any money while testing it, and this is a huge advantage over regular accounts in which you will need to use your money to find out if your strategy works or not.
Before start my trading in real account, everyone suggested to me must should be practice in demo account then i have to learn trading following demo account but i was started in real account in small capital, but i can't deny demo account is very helpful to feel in real trading and it's helps how to control emotion and greed.

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March 09, 2024, 09:39:58 PM
#83

Trade with the amount of money you are capable of losing. The kind of money that will not give you emotion.

If I earn $250 weekly. I can decide to trade with 5% which I can afford to lose. That means I will accumulate 5% of it weekly and try to make profit.

That is $12.5 weekly.

Try not to lose but continue to accumulate. I mean no to much risk trading. But if you lose more, stop trading after many months of losing. If you gain, continue to gain and accumulate.

     Nice! I like what you said, and it looks like you've been doing it so far, right? And honestly speaking, I would like to imitate what you suggested. Because it will be quite helpful for what I see as a gambler as well as for other gamblers in casinos.

     With this habit, we will somehow be responsible as gamblers on any casino platform, for sure. Of course, once the limit amount is used up, we have no choice but to stop.
I hope some of the gamblers community here in this section will read this suggestion of yours too like me.

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stadus
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March 09, 2024, 09:42:36 PM
#84

I donít just really know much to see about this to you, but my advice is continue whatever youíre doing ask questions, read, book, analyze use some pastry to judge your present and donít be scared to take the risk continue what you are doing. I believe you should know the right thing to do after reading the books and following the Trading trends and also remember to go into CoinMarketCap and see how everything is going down and try to come into the forum anytime you have challenge and donít be scared to take ricks. Secondly, be Patient on what you are doing concerning Trading donít ever be greedy. Focus read continue donít stop whatever youíre doing ask questions you before concluding.
My advice is, focus first on growing your knowledge in trading. Never trade if you are still not confident with your trading results. Although consistent trading will improve your experience in trading, but if itís always a consistent loss, then I donít think itís helping you anymore. Even if you say you trade on the amount you can afford to lose, but losing a small amount will eventually lead into a huge one once your trading mistakes and losses will not be controlled.

Newbies in the first place are not advisable to trade. Instead, focus on buying and hodling first, and when youíve gained positive outcome from it, then perhaps you can start taking a bigger risk like trading.

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March 09, 2024, 09:50:19 PM
#85

Before start my trading in real account, everyone suggested to me must should be practice in demo account then i have to learn trading following demo account but i was started in real account in small capital, but i can't deny demo account is very helpful to feel in real trading and it's helps how to control emotion and greed.
If you practice trading in demo account you will get an idea how the market works, yes it's true if a trader trades in demo account then emotions don't work like in real account because real money is not involved. But if a trader trades seriously in a demo account, then his trading skills must increase and if he can implement it properly in a real account, he can get good results.

And this is why you are advised to do demo trading before starting trading. Greed and emotions are very important in trading, those who can gain experience in controlling these things can do well in trading, and for that demo trading is very important to understand the market.

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March 13, 2024, 10:19:28 AM
#86



Try not to lose but continue to accumulate. I mean no to much risk trading. But if you lose more, stop trading after many months of losing. If you gain, continue to gain and accumulate.

Trading is hard and not a get rich quick scheme, a trader needs to have a source of income to fund the trading, and as advised to trade with amount that they can afford to loose, to minimize loses, and if they continue to experience loses over a period of time, it'll be best to take a break from trading. A newbie that's continuously losing should stop trading, take a long break as you said and restrategize, then come back, if it continues then perhaps trading is not for him, he can convert to become an investor, and hodle reputable coins/tokens.

R


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March 13, 2024, 11:24:51 AM
#87

I donít just really know much to see about this to you, but my advice is continue whatever youíre doing ask questions, read, book, analyze use some pastry to judge your present and donít be scared to take the risk continue what you are doing. I believe you should know the right thing to do after reading the books and following the Trading trends and also remember to go into CoinMarketCap and see how everything is going down and try to come into the forum anytime you have challenge and donít be scared to take ricks. Secondly, be Patient on what you are doing concerning Trading donít ever be greedy. Focus read continue donít stop whatever youíre doing ask questions you before concluding.
These are the basics that a trader should learn prior to trading. Donít force yourself trying to pursue trading when you know your knowledge and skills arenít good enough. You know, it takes time to learn and gain, so just enjoy every step you do and never get pressured just because others are profiting while you are still losing and still in the learning process.

Trade when you think youíre capable to trade, and trade not mainly to win and make profits but trade to gain more experience in trading. I believe in time you will come to master your trading strategy, it just takes more patience and consistency with what you are passionately doing.

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March 13, 2024, 11:41:28 AM
#88

And this is why you are advised to do demo trading before starting trading. Greed and emotions are very important in trading, those who can gain experience in controlling these things can do well in trading, and for that demo trading is very important to understand the market.
While there really is no emotion using demo trading, it's advisable for those that are trying to test some strategies. When you're not yet sure if your trading skills are going to be worth it, it's best to try and get into demo trading first doing some back test before you wholly commit with your actual plan and money that's ready to get into it. But if you're brave enough ready to lose with your potential capital, you can skip that part as long as you are trading with an amount that you afford to lose.

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March 13, 2024, 11:31:12 PM
#89

And this is why you are advised to do demo trading before starting trading. Greed and emotions are very important in trading, those who can gain experience in controlling these things can do well in trading, and for that demo trading is very important to understand the market.
While there really is no emotion using demo trading, it's advisable for those that are trying to test some strategies. When you're not yet sure if your trading skills are going to be worth it, it's best to try and get into demo trading first doing some back test before you wholly commit with your actual plan and money that's ready to get into it. But if you're brave enough ready to lose with your potential capital, you can skip that part as long as you are trading with an amount that you afford to lose.
Demo trading gives an idea of ​​the market to the trader to know how the market works, because new traders have no idea about the market how the market works and how to manage everything. Any trader starts their trading life with losses, because they are not ready to gain enough knowledge and are not much interested in demo trading, which makes them see losses after starting trading.

Demo trading can give a trader complete knowledge of the live market but cannot give the same emotions as a real account, because there is no real money in a demo account and there is much less emotion than a real account. And controlling emotions is the most important thing in trading. So demo trading is important to get a better understanding of many trading methods.

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gabbie2010
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March 13, 2024, 11:42:27 PM
#90

I donít just really know much to see about this to you, but my advice is continue whatever youíre doing ask questions, read, book, analyze use some pastry to judge your present and donít be scared to take the risk continue what you are doing. I believe you should know the right thing to do after reading the books and following the Trading trends and also remember to go into CoinMarketCap and see how everything is going down and try to come into the forum anytime you have challenge and donít be scared to take ricks. Secondly, be Patient on what you are doing concerning Trading donít ever be greedy. Focus read continue donít stop whatever youíre doing ask questions you before concluding.
Honestly it takes a lot of effort and determination for a newbie trader to scale through in trading, even after reading books, following the market etc yet a lot of them still lose or get liquidated because live trading experience is a different ball game because they have to deal with psychology and emotions in trading this is based from my own personal experience at this point many quit trading after streak of losses, however all those challenges are surmountable if such a trader remain steadfast and persevere definitely they can later become profitable after gaining some vital experience though absolutely it's not easy to get to that level as a newbie but they just have to  believe in themselves.

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Tigerheart3026
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March 14, 2024, 09:10:20 AM
#91

you lost money already in several times i will advise to you don't trade with big amount which will not be affordable to you, secondly still you are a newbie in trading so you should not take big risk, if you bought a coin then see your balance is going negative when you try to wait for recovery don't sell your coins in low price.
Uruhara
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March 14, 2024, 09:41:49 AM
#92

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 donít want to try hard when trading it
Maybe you already understand the various insights needed in trading theoretically at that time. But you forget that the real insight will come from your own experience in the market. For example, controlling emotions in trading cannot be done just by understanding the theory in books about this matter. But understanding emotional control in trading can only be done after we experience it directly in the trading itself on the market. You only need to make observations and evaluations for each of your activities in the market. With this you will find out where your mistake lies.

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Taskford
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March 14, 2024, 10:17:20 AM
#93

I donít just really know much to see about this to you, but my advice is continue whatever youíre doing ask questions, read, book, analyze use some pastry to judge your present and donít be scared to take the risk continue what you are doing. I believe you should know the right thing to do after reading the books and following the Trading trends and also remember to go into CoinMarketCap and see how everything is going down and try to come into the forum anytime you have challenge and donít be scared to take ricks. Secondly, be Patient on what you are doing concerning Trading donít ever be greedy. Focus read continue donít stop whatever youíre doing ask questions you before concluding.
Honestly it takes a lot of effort and determination for a newbie trader to scale through in trading, even after reading books, following the market etc yet a lot of them still lose or get liquidated because live trading experience is a different ball game because they have to deal with psychology and emotions in trading this is based from my own personal experience at this point many quit trading after streak of losses, however all those challenges are surmountable if such a trader remain steadfast and persevere definitely they can later become profitable after gaining some vital experience though absolutely it's not easy to get to that level as a newbie but they just have to  believe in themselves.

If they don't trade then how they can gather experience? So its really need a lot of determination and effort so that they can see the best result on their trading career.

There's a lot source of information they can grab online that can help them and they just need to be consistent on their information seeking plus trying to earn some good experience on the market before they can see the best result of a lot of efforts they have done.

Path thru learning and becoming a expert on this field is really though it need a lot of patience and determination before they can earn a lot of success on their future trades they made.

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March 14, 2024, 11:45:56 AM
#94

While a $20 gain on a $34 position is a positive step, it's understandable to feel stuck. Here are some ideas to consider:

Focus on Paper Trading: While live markets give a real-world feel, paper trading allows you to practice strategies and refine your skills without risking real money. This can help manage emotions and build confidence.
Review Your Losses: Analyze past trades that resulted in losses. Did you stick to your plan? Was your risk management on point? Learning from mistakes is crucial for improvement.
Refine Your Strategy: Maybe your current approach needs tweaking. Research different strategies and see if any resonate with you. Remember, the "holy grail" strategy doesn't exist, so focus on what works for you.
Seek a Mentor (Optional): Consider connecting with a more experienced trader who can offer personalized guidance. Look for someone with a proven track record and a teaching style that suits you.
Remember: Trading success takes time and discipline. Don't get discouraged by setbacks. Keep learning, practice diligently, and manage your risk wisely. Good luck!
Vinaa77
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March 14, 2024, 04:47:29 PM
#95

Maybe you already understand the various insights needed in trading theoretically at that time. But you forget that the real insight will come from your own experience in the market. For example, controlling emotions in trading cannot be done just by understanding the theory in books about this matter. But understanding emotional control in trading can only be done after we experience it directly in the trading itself on the market. You only need to make observations and evaluations for each of your activities in the market. With this you will find out where your mistake lies.
Yes, by having a lot of theoretical knowledge about trading and having never tried trading, of course we cannot yet know to what extent we have mastered how to trade and the theory that we understand when trading will certainly have challenges that we have never experienced in theory, so we We have to think about how to solve it so that we don't experience losses in the trading that we do, but after we have experience in trading, of course we will be able to trade to be able to earn income in trading so that we have a profit in the trading that we do.

Sorryfor
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March 14, 2024, 05:04:56 PM
#96

You mentioned you have already lost your value by trading and suffered a loss. But it's not that you don't know about trade but you have acquired knowledge about trade as much as you can and traded but you could not profit. In this case I think the amount of money you have left is the money you should try to gain knowledge about investing first rather than trading now and plan to invest in the future. Because if you invest your money and hold it, the chances of making profit from it are much higher than trading. Also you should do more research on the trade and try to be around more skilled people And you can start trading again with the amount of money you will get profit from the invested money.

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March 14, 2024, 05:18:05 PM
#97

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.

All what youíve mentioned is not enough to certify yourself as a trader. If youíve learn all this things and youíre sure that you can control them while trading, youíre about becoming a better trader which will eventually continue in that manner until you become better than yesterday and win more that you use to than before. No one is a perfect trader or being, youíll eventually encounter losses not because youíre not good at trading but because you cannot be always right and the market can be tricky at you without knowing. Just make sure you donít stop trading and know how to manage your risk while trading.

Keep yourself focus, use small leverage to minimize loss so that you can come back tomorrow to continue learning. As you continue in that manner, youíll learn new things daily and become better as time goes on. When you stop, it means youíve giving up and you can never understand the basis of trading. Just make sure you invest what you can afford to lose. Losing is constant in trading just like profit is also constant when youíve mastered the art of trading.

Quote
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 donít want to try hard when trading it

Demo trading is basically for learning how to trade, it does not deal with emotions while emotions plays one of the vital role to become a good trader once you begin to trade using real account. You donít trade when youíre in too much excitement and you donít also trade when youíre angry. Only trade when youíre in your normal mood to be able to analyze the market using your fundamental and technical knowledge about the market. If you give up now, youíre at a dead end but since you havenít yet; try and manage your risk to remain in the business of trading while allocating only money you can afford to lose into trading.

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bettercrypto
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March 14, 2024, 06:04:55 PM
#98

Maybe in your case scenario, you should never stop since you have started learning trading. Then try to start with a small amount of trading first. Then the timeframe that you should use first is the 1 hour or 4 hour timeframe. Because if it's low there, it will be a bit difficult.

Or it's also possible that while you're just learning trading first, you only have to do a 1-day timeframe to continue your exploration of learning about trading. Don't give up; just continue to learn until you learn something new about it, and once you have it, then continue to learn more.

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March 14, 2024, 09:15:35 PM
#99

Try not to lose but continue to accumulate. I mean no to much risk trading. But if you lose more, stop trading after many months of losing. If you gain, continue to gain and accumulate.
Trading is hard and not a get rich quick scheme, a trader needs to have a source of income to fund the trading, and as advised to trade with amount that they can afford to loose, to minimize loses, and if they continue to experience loses over a period of time, it'll be best to take a break from trading. A newbie that's continuously losing should stop trading, take a long break as you said and restrategize, then come back, if it continues then perhaps trading is not for him, he can convert to become an investor, and hodle reputable coins/tokens.

I don't know if any trader would consistently lose money if he or she actually learned from previous mistakes. It's somewhat impossible for me to find them continuing to lose money on trades if they really learn, but greed will sometimes make it difficult for them to grow. Of course trading is not a get rich quick scheme, but many traders have that mindset especially when they are beginners.

Losses in trading are an inseparable part, but there are always strategies to minimize losses. Traders must avoid greed in each trading session, meaning there are times they have to take profit and times they have to exit with losses. But if trading isn't a good fit for them, then I agree long term investing in coins is potentially a wise choice.
nurilham
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March 14, 2024, 09:48:04 PM
#100

For those who are just starting out in trading, of course they have to ask those who already have a lot of experience in trading and they also have to be prepared for the risks they will face in trading and continue to seek various knowledge from the media and also books regarding trading and also we have to be patient. with the process we go through from this learning, of course we will be able to get good results.
It is not a must to ask people who have experience in trading. We can learn it from articles or videos. I also do this, I learn by myself. Nowadays, we have a lot of sources to improve our knowledge in trading. If we want to have a trial, we can use demo account. So, it is okay to learn ourselves if there are no experienced traders that we can trust around us.

Sure, we must be patient in learning knowledge about trading. It must take time and won't be so easy. Sometimes, we have some obstacles because of our busy activities in real life or we begin trading but get bad results. There is no easy way to succeed, we must deal with obstacles and challenges.

Before start my trading in real account, everyone suggested to me must should be practice in demo account then i have to learn trading following demo account but i was started in real account in small capital, but i can't deny demo account is very helpful to feel in real trading and it's helps how to control emotion and greed.
Demo account can be very helpful if we are still not brave to do real trading. But it is just an optional. There are some people who want to try on real trading. This is also okay as long as we use small money only.

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