What is your advised for being a trader?

[Jonyshake71]

Trading is kind of risky thing where you can generate money and you also can lost the whole fund within few seconds. So it isn't recommend to trade if you don't know anything. But I don't support the idea "Doing trades with small fund and keep learning". Cause thus i made loss continuesly. i know a traders need to know technical, fandmental analysis, need to check news and many more. So What things do you follow and advice before open a trade?

[the rise]

Trading is kind of risky thing where you can generate money and you also can lost the whole fund within few seconds. So it isn't recommend to trade if you don't know anything. But I don't support the idea "Doing trades with small fund and keep learning". Cause thus i made loss continuesly. i know a traders need to know technical, fandmental analysis, need to check news and many more. So What things do you follow and advice before open a trade?

first I will look at positive news, if I have small money I will choose to trade with popular coins such as bitcoin, eth, and others, not like you said I will lose all my funds in a matter of seconds, it is very impossible in my opinion, unless you trade with the token that has just been launched, memetoken will be very possible, condition your finances first, if you are ready to lose or double your money in an instant, meme token is the best solution

[Assface16678]

Trading is kind of risky thing where you can generate money and you also can lost the whole fund within few seconds. So it isn't recommend to trade if you don't know anything. But I don't support the idea "Doing trades with small fund and keep learning". Cause thus i made loss continuesly. i know a traders need to know technical, fandmental analysis, need to check news and many more. So What things do you follow and advice before open a trade?

Prepare yourself; trading is not an easy thing. If a weak-hearted person is trading, he or she will not survive. A trader should always be ready to lose money and, of course, have the mindset of recovering it next time he trades. Don't chase losses; it could be ugly if you keep on aiming to earn quickly. The most important thing is "knowledge." Even if you are already earning, trading is a very unpredictable thing, so the movement of the market is undefined. There will always be a new pattern, so your mind should always be ready for adoption, and you should be ready to learn new things in order to earn money next time you trade. Remember, even an experienced trader still faces losses, and so do you. There is no perfect trade in trading, so you should build your own. Trading will never be easy, and if it is, maybe you will attain a state wherein you can trade efficiently and profitably, but there's a long way to that.

[Stalker22]

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Trading is definitely a gamble.  Like you said, in just seconds you might make bank or lose everything you put in.  I would not tell someone to start trading if they didnt really know what they were doing or had done it much before. 

That said, trying it out with a little bit of money while you learn could work.  That way you pick up the skills without huge risks and  personally, I needed a few years before I felt comfortable diving in full force.  Of course everyone goes at their own pace when getting the hang of this stuff. 

In the end proceed with caution.  Dip your toes in first and see how it feels before cannon-balling into the deep end.  You dont wanna find out too late that you sunk more than you can afford.

[Issa56]

Trading is kind of risky thing where you can generate money and you also can lost the whole fund within few seconds.

Anywhere there is money involved, there is always risk attached to it, so it’s not only trading, if you are planning to make money from trading, then you should be ready to take risk, but when taking risk, make sure you don’t take risk that’s beyond your limit, and when trading, you shouldn’t do that with all the amount you are having, because you can easily lose your money. Always trade with the amount you can afford to lose, in case if things go wrong, it’s not really going to affect you.

So it isn't recommend to trade if you don't know anything.

Why will you even start something you don’t know anything about? Then you are just trying to waste money, because the chances of you losing money are just kind of high. So before you start trading, always make sure you understand basic things about trading, and as a beginner, it’s advisable to trade with a small amount of money. The more you keep on understanding trading, the more you can keep on increasing your money.

[Hamza2424]

Hmm, I'll keep it simple and easy for you OP, I just would like to advice that it will be a tonic for your risk management, emotion management, and trade management whatever aspect you observe it will definitely work as a tonic. Be disciplined that's all.

One additional thing is to be confident choose one of them, and be a number trader or psychological trader. Whenever you try to mix them both while trading in your initial times you'll face bad consequences.

[South Park]

Trading is kind of risky thing where you can generate money and you also can lost the whole fund within few seconds. So it isn't recommend to trade if you don't know anything. But I don't support the idea "Doing trades with small fund and keep learning". Cause thus i made loss continuesly. i know a traders need to know technical, fandmental analysis, need to check news and many more. So What things do you follow and advice before open a trade?

You seem to be getting that phrase wrong, when people tell newbies traders to use a small amount of money to learn, they do not mean to just do that and try to figure out everything from scratch, what they mean is that once you have read several books about it and you have a tested strategy that you know it works, that is when you can begin to trade with a small amount of money, and this is because no matter how effective was your training with those books, you are still a newbie and you will make mistakes, but those mistakes have to be made so you can learn what it cannot be learned any other way and you can become a good and profitable trader.

[mirakal]

There are inevitable losses in trading so if you open a trade without good preparation, then the more that you’ll be susceptible to losses and failures. My advice is acquire knowledge first and gain experience trading in the market through using demo account. Beginners often lose while trading so it would be more suitable to trade in demo account first before you take risk using your real account in live trading.

Trading will only result in consistent losses if you know you don’t have confidence to trade because you’re still incapable to trade. But if you have good experiences in the market, then there’s nothing to worry about because you’ll eventually surpass your difficulties in trading.

[Distinctin]

Trading without prior knowledge on trading will most likely end up gambling. Once you enter trading and risk your funds, at least you should have gained reliable experiences in trading that will minimize your losses since you know already how to back up your trades when there are difficulties that appear instantly while trading. Trading is a battle of mind and skills, if you think you don’t have what it takes to be a responsible trader, then I suggest just settle on long term hodling than risking all your funds trading without certainty.

[passwordnow]

Trading is kind of risky thing where you can generate money and you also can lost the whole fund within few seconds.

With the latter, it is certainly going to make you lose a lot of money in split seconds when you're going to do a futures trade. That's why you need to be aware of being liquidated in just a few seconds when you are into it and that's why it's so much better not to go for it.

So it isn't recommend to trade if you don't know anything. But I don't support the idea "Doing trades with small fund and keep learning". Cause thus i made loss continuesly. i know a traders need to know technical, fandmental analysis, need to check news and many more. So What things do you follow and advice before open a trade?

I follow what I've learned and what I am applying when I trade. All of those that you've mentioned and combining all of them is going to make my life easier. That's why in trading, it's not all about how long you've been trading and how much capital that you have although in the long run it is going to make a huge difference if it's about the capital. You will get to understand that you need to keep that much capital for you to have that potential bigger return. It really plays a big role but when you start, you've already quoted what majority is going to tell a newbie trader and that is to learn and start small until you have some strategies already that you have understood that can make you win trades.

[sheenshane]

Trading without prior knowledge on trading will most likely end up gambling.

Seems like you entered a battlefield where you don't have a weapon, it's a suicide mission.

Here's my advice.

• Be knowledgeable
• Don't be greedy
• Use always a stop-loss
• Stick to the plan

Trading isn't always aiming to gain profit, sometimes you accept losses for you to learn such mistakes.

[FatFork]

When you start trading, it can feel kinda overwhelming trying to stay on top of everything going on in the market and figure out what moves to make.  It's easy for beginner traders to mess up and lose money if they don't know what they're doing.  Thats why it makes sense to practice first with a demo account so you can learn the ropes without worrying about losing your hard-earned cash. 

Demo accounts let you try out different trading strategies and get used to the platform you'll be using, but without any real money at stake.  It's like a practice run so you can gain some experience under your belt before diving into actual trading.  Going this route helps you avoid costly mistakes down the line when you transition over to trading real money and  once you feel like you got the hang of things and are trading profitably on a consistent basis in your demo, then you can feel confident about moving forward for real.

[GreatArkansas]

Trading without prior knowledge on trading will most likely end up gambling.

Seems like you entered a battlefield where you don't have a weapon, it's a suicide mission.

Here's my advice.

• Be knowledgeable
• Don't be greedy
• Use always a stop-loss
• Stick to the plan

Trading isn't always aiming to gain profit, sometimes you accept losses for you to learn such mistakes.

+1. I highly suggest this, especially the third and last one. Because it will help you to protect your capital.
This is consider as risk management especially using stop loss because this is a good thing to use so you will not lose more or get liquidated, it is also a good thing to do just incase your analysis went in to the opposite side.

[Text]

Trading is a journey that involves both successes and setbacks. By approaching it with a well-informed and disciplined mindset, you increase your chances of success over the long term.

How much are you comfortable losing on each trade? Stick to that limit religiously.
Are you aiming for short-term gains or long-term wealth building? This will influence your strategies.
Can you actively monitor the market, or do you need automated strategies?

There's no guaranteed formula for success in trading. It's a continuous learning process with its fair share of wins and losses. Focus on developing your skills, managing your risk, and staying disciplined.

Best of luck in your trading endeavors!

[lombok]

The most important and main thing is regarding your money management in placing positions. If you use too much margin, let alone trade using large leverage, make sure that your reserve funds are sufficient to cover losses as long as the market goes against our position.

In the case of spot trading Money management is also very important that we also have to apply this when purchasing coins. For example, using DCA in purchasing digital assets is also a form of money management, then purchasing several other digital assets in this portfolio is also money management.

[Xampeuu]

Trading without knowledge is the same as gambling, trading seems to be aimless and just guessing at market movements. On the other hand, luck will not come continuously, and of course people like this will find it difficult to survive in the world of trading. Unfortunately there are more people like this, so more traders experience defeat because they cannot survive market movements

[michellee]

Trading with small funds and continuing to learn can provide knowledge and lessons that you need to improve on. We cannot trade directly using large amounts of money because that will make us feel a total loss. It is better to use small funds while learning trading to improve his analytical skills.

If you can't learn to trade, you may be confused about when to trade. That is why a trader needs to learn to trade continuously. Moreover, market conditions are always changing so a trader is required to be able to improve his abilities.

And if you don't have a trade, you'll have a hard time knowing when to enter and exit the market. That will make it difficult for you to make a profit. To learn to trade, you can use a demo trading account. It will help you to understand the lesson you are studying.

[Awaklara]

Trading is kind of risky thing where you can generate money and you also can lost the whole fund within few seconds. So it isn't recommend to trade if you don't know anything. But I don't support the idea "Doing trades with small fund and keep learning". Cause thus i made loss continuesly. i know a traders need to know technical, fandmental analysis, need to check news and many more. So What things do you follow and advice before open a trade?

What do you want to know more? you know the risks of trading and you also know the analysis for trading.
If you master it then what is lacking is trying what you master. If you still lack confidence, you don't need to be embarrassed to use small money to start with. Feel how you trade on a real account, not a demo account.
Perhaps the first difficulty is determining the right asset for your trading. but when you do it a few times, you may get used to it.

[Kelward]

Trading without prior knowledge on trading will most likely end up gambling. Once you enter trading and risk your funds, at least you should have gained reliable experiences in trading that will minimize your losses since you know already how to back up your trades when there are difficulties that appear instantly while trading. Trading is a battle of mind and skills, if you think you don’t have what it takes to be a responsible trader, then I suggest just settle on long term hodling than risking all your funds trading without certainty.

It's true that trading requires adequate knowledge on how it's done, otherwise it becomes gambling, so knowledge and gradually building experience when trading is the key to being profitable and minimizing loses in crypto trading. Diligently learning the fundamental and technical analysis is key and starting by trading the amount that you can afford to loose is very important, because loses are bound to happen, and that is the risk that is involved. So there is no need to rush into crypto trading, and as you said if someone doesn't have what it takes to be a responsible trader, then it's best to settle for long term holding, which is also profitable in the long run.

[Yamane_Keto]

These steps can be good:

• Read about trading and learn the basics.
• Read about Technical Analysis and how to draw charts.
• Create an account in TradingView and use demo account option
• Apply the theories you've learned using the demo account
• Invest a small amount to experience emotional control.
• Increase the amount by 20% every few days.
• Learn how to control your emotions and how to turn loss into profit.

Investing with a small amount is step number 5 and is not the first one.