What is your advised for being a trader?

[SOKO-DEKE]

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?

I absolutely agree that trading in cryptocurrencies comes with significant risks, especially for newcomers. It's crucial for beginners to be cautious and keep a close watch until they grasp more about the cryptocurrency industry. The reason is, in a short period, they could easily lose their funds due to the unpredictable nature of trading. Trading isn't just about having basic knowledge; it demands a deep understanding of cryptocurrencies.

Despite the risks involved, some people are able to turning a significant profit from trading time to time. But those who have a firm grasp of trading are the ones who make money every time. It's critical to stress that trading is a serious endeavor that calls for extensive study, ongoing technical analysis, and other skills. People can better handle the difficulties of cryptocurrency trading by gaining the necessary knowledge and remaining educated, which lowers the possibility of suffering large losses and raises their chances of long-term success.

There are exchanges that give you a demo account with virtual funds to practice your trading journey before you have confidence in yourself and start trading on your own

Yes, some places let you try trading with pretend money first, like a game, so you can learn how it works before using real money. It's like practicing before playing a game for real. But, some folks are not doing this important practice and instead are starting to trade without really understanding how it all works. This is not a good idea because you need to be confident and know what you're doing before trading with real money.

[EarnOnVictor]

There’s always a lot of considerations before one should decide to trade. Aside from learning all the fundamentals and the technicalities in trading, it’s also important that you should learn to trade based on your trading plan. Set your trading plan first before you risk in trading, and always risk on what you can only afford. With that, you will never suffer from too much consequences when trading.

While fundamentals and technical analysis are important, it’s also crucial that you start trading once you gained prior skills, that is learning trading first without using real funds.

With my trading experience and exposure about people, I realised that knowing how to spot the trade through the various means available is not the reason for the failure of traders, this could be gotten easily, but the way they ignored several other important things that could have helped them to put the pieces together for their trading success. Many will be looking for a trading strategy that will earn them 100% winning, but this is not possible, and with a trading system of just 50%, if properly managed, the trader can still be successful in trading. Therefore, instead of learning the right plans and systems together, they are busy learning trading strategies and continue to style-drift which is not good for progressive traders.

Good, finding the right trading strategy is a nice idea, but the irony is that most traders already have it, only that they are not patient with the one(s) they have or are not using the strategies correctly. If a good strategy is achieved, what is needed in addition is for the trader to work on good money and risk management to be used with it. This is key to the success of traders and it is what the trader will blend with a good strategy to form a working trading system. After which good psychology must be enforced and practised, but it will take time as determination and discipline are also needed in this aspect. It takes a whole lot of practice on self-control to be able to actualize this.

[tygeade]

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?

As a beginner that is still learning about trading I don't think it is advisable to start trading with huge sum of amount, trading is all about learning and experience. Starting trading with small amounts of money will give one a good knowledge how to handle a huge sum of money in trading. Another thing you also need to consider in trading is that trading with a huge sum of money is not a guarantee to make better profit, the most important thing is to trade with the amount that you can afford to lose.

As a trader it is advisable one needs to understand trading very well, because rushing to make money from trading fast  can end one be at lose at the end. Learning trading and having a proper knowledge of trading helps in trading alot , trading is not something that can be done with a shallow understanding but requires a good understanding to handle it.

The number of people who want to make money very quickly is the number one reason why we are having this trouble. We should not be expecting something like that, we should be expecting much less from people. In any case, stop trying to make money right away, and learn, if you study and trade to gain experience, then you are going to be great.

I agree with you that starting small is the best way, because if you start small then you are going to get a lot better eventually, that should be the most important part. I get that it may not feel that great, but that doesn't feel like it is going to be all that great if you just jump right into it, I hope that this would become something that would be a little bit more less stressful.

[Hypnosis00]

I think everyone here has given a lot of advice on what to do to become a trader. It is not easy to become a professional trader, there are many stages that need to be done, one of which is studying technical and fundamental analysis trading knowledge, it is still quite basic because there is still a lot to know. The most important thing is how to manage trading emotions because no matter how good the trading techniques and strategies used are, they will not be useful when the trading mentality is down. It takes a lot of practice and experience to form a strong trading mentality.

I hope that OP is quite understanding the advice of the forum members.

Indeed, it is simple to say I will become a trader but it was difficult in actual. Many people start their trading journey with strong mindsets and aggression but they never stay long and quit. So why? It means that not all are meant for this. Although we have a chance but it doesn't mean that those who want to become a trader will succeed, as surely not. Even myself, I can't tell that was already successful in this field because even though we have a long trading experience, it never counts as a guarantee for a successful trade, I could still lose.

My advice is that - don't force ourselves if we know it is impossible but instead, choose the job where we think we have an advantage and capabilities.

[Moeda]

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?

Actually trading is simple. Buy at low prices, and sell at high prices. Automatically there is no loss term. If the price drops, we can hold coins until the price rises again.
The most important thing in crypto trading is choosing coins with potential, and avoid coins that have just been listed on the exchange, because these coins will drop up to 90% of the initial listing price.

[Questat]

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?

Actually trading is simple. Buy at low prices, and sell at high prices. Automatically there is no loss term. If the price drops, we can hold coins until the price rises again.
The most important thing in crypto trading is choosing coins with potential, and avoid coins that have just been listed on the exchange, because these coins will drop up to 90% of the initial listing price.

Okay, many people are saying trading is easy but have you ever wondered why many traders have failed? It was not as easy as we think in real life but it was hard due to the volatility of the market and if we don't have enough knowledge and good analysis, we just lose. This is the usual problem for most traders as they start their journey without enough knowledge as they think that simple buying and selling are enough. 

So why we are encouraged to continue learning because that is the way it helps us to improve. If we want to reach our goal, then we also never stop learning and keep improving.

[South Park]

Okay, many people are saying trading is easy but have you ever wondered why many traders have failed? It was not as easy as we think in real life but it was hard due to the volatility of the market and if we don't have enough knowledge and good analysis, we just lose. This is the usual problem for most traders as they start their journey without enough knowledge as they think that simple buying and selling are enough. 

So why we are encouraged to continue learning because that is the way it helps us to improve. If we want to reach our goal, then we also never stop learning and keep improving.

That kind of thinking is widespread even if it is wrong, trading is not easy, however it may seem this is the case because if you were to take a look at the posts you can read on social media you will see that most of the posts out there come from traders claiming they are making huge profits, and even if we were to assume that all of those posts were true, where are the posts of those that lost their money on the markets? And there are not many posts like that, because despite losing traders being more common than winning traders, they prefer to hide as they are embarrassed they lost so much money on the markets and they refuse to share their story.

[ItsCrafty]

In this case, I will tell you that if someone wants to do trading and he wants to start trading in crypto, then for that he must have funds and he must also have knowledge about crypto and I would like that if someone wants to trading, whatever project he chooses, he should choose a strong project, then make his investment in it, and if the value is low, then he should have the ability to hold. It should be and then that project will definitely benefit him but if he invests in a very small project and he has no knowledge about it, then he will lose.

[AakZaki]

The number of people who want to make money very quickly is the number one reason why we are having this trouble. We should not be expecting something like that, we should be expecting much less from people. In any case, stop trying to make money right away, and learn, if you study and trade to gain experience, then you are going to be great.

I agree with you that starting small is the best way, because if you start small then you are going to get a lot better eventually, that should be the most important part. I get that it may not feel that great, but that doesn't feel like it is going to be all that great if you just jump right into it, I hope that this would become something that would be a little bit more less stressful.

Starting small means you have to know what basics you need to know before you start trading, because many beginners want to start trading but are lazy to know what basics they need to know, they just want an instant way and don't need to think about analysis and something like that. Even though basic knowledge is the basic foundation for starting to become a trader. It's not easy to become a trader who really trades, not just relying on other people.

[DVlog]

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 made losses continuously because you didn't analyze your mistakes and learn from them. It is not hard to learn basic knowledge about crypto trading and it won't help you to be on the winning side. What most important in crypto is to maximize the profit by minimizing the risk which can be done if you have a good money management strategy. It is more important to have the best exit plan than to have a perfect entry. Most of the new traders spend their years to learn how to get the perfect entry and till they realize they are doing it wrong they have already taken a massive loss that kick most of them out of the market.

[Out of mind]

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?

It is true that trading is a risky platform like gambling where you can earn huge amount of money at any time and your funds can be zero within a short period of time. But if you want to be a successful trader, then you must have a good opinion about the market and analyze all aspects of the market. If you don't understand well, then never go to trading. There are many types of trading like future trading, spot trading, bod trading among them, you should never go to future trading as you will have the possibility of losing your money anytime. If you do spot trading then your fund is not likely to go to zero but in futures trading also you will profit if you do bot trading, but you will lack skill here. So investing is risk-free as compared to trading, but if you want to earn regular income by trading then you must take good advices and take entrepreneurship from all traders.

[ancafe]

All of us are beginners in the early days of trading, so it is our duty to study and learn so that our trading plan runs smoothly. Each trader's risk tolerance is different, so it is not surprising that sometimes they have to accept large losses without reserve funds.

You are right, analysis is needed before starting trading. Strategy will help traders obtain satisfactory results, so everything is covered from starting to learn, improving trading skills, and maintaining psychology. Trading skills certainly vary, so this will determine how successful they are at trading.

You are right because actually all of us were beginners before becoming more experienced in trading. How to handle risks also differs depending on who we know about trading or who we teach it to and if we have a professional trading teacher then the way to win risks is definitely a little more coordinated. There are many people who experience losses when they first get to know trading and there may be many people who experience losses in large amounts, but experience will lead them to evaluate each loss so that when they mature we can better control the risk.

Learning to improve skills, handle risks and create strategies is quite necessary because a person's maturity in trading will occur if their experience continues to increase, it's not uncommon for many people to give up because of a lack of attitude in handling risk. Therefore it's a good idea for us to study well before getting too involved in trading because usually risk is much more difficult for us to control if we don't have the knowledge.

[Uruhara]

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?

Actually trading is simple. Buy at low prices, and sell at high prices. Automatically there is no loss term. If the price drops, we can hold coins until the price rises again.
The most important thing in crypto trading is choosing coins with potential, and avoid coins that have just been listed on the exchange, because these coins will drop up to 90% of the initial listing price.

Well, from a simple perspective, it's like that. But being able to remain calm when we see that the coins we hold are decreasing is another thing that also needs to be considered. Because trading turns out to drain more of our own mental or emotional energy. And if we are not good at processing emotions in trading then losses are what we will most often encounter.
So that is where it is also important to study market psychology and trading psychology. Emotional management and money management. Because trading looks simple but in reality it is so complex.

And also to find out which coins have potential and which don't, you need expertise in finding information and this is where fundamental analysis is needed. So that we can avoid big losses from entering the wrong project that is actually bad but looks good.

[NicNacCoin]

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?

If you are trading futures you can lose money within seconds at the peak of the market ups and downs but if you are trading spot you will not lose money within seconds. For trading I would always suggest to choose a good exchange platform like (Binance). Never trade with emotion on a trading platform because you can never trade with emotion on a trading platform trading with emotion will only make you lose. One can never be too greedy on a trading platform and one can never lose patience on a trading platform. Also a person should always use his own strategy to trade. And especially in the case of trading, trading should always be done by looking at the good news of the market.

[avp2306]

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 made losses continuously because you didn't analyze your mistakes and learn from them. It is not hard to learn basic knowledge about crypto trading and it won't help you to be on the winning side. What most important in crypto is to maximize the profit by minimizing the risk which can be done if you have a good money management strategy. It is more important to have the best exit plan than to have a perfect entry. Most of the new traders spend their years to learn how to get the perfect entry and till they realize they are doing it wrong they have already taken a massive loss that kick most of them out of the market.

Losses is result of poor judgement on the way how they trade those crypto's in the market and if he learn a lesson from the mistakes he made for sure he can use those experience to be more careful on for next time around. Although we can't acquire some skills instantly but if we are consistent seeking for more valuable information about trading and also we follow those people who do good trades for sure we can learn from them. There are also lot of resources online that we can read and for sure if we could just spend time to read and try to apply those methods introduce to us for sure we can make this as a basis to have a good trades also make us more stronger especially on taking good decisions in the market. Most of newbies really spend years to learn trading but if they are just consistent and show willingness to learn for sure they can make those timeline a little more and for quiet sometimes they know how to trade and create good strategy for theirselves.

[AYOBA]

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?

Trading is dangerous anytime money is involved, thus it is a discipline that requires preparation. Because of this, it's not a good idea for someone who is unfamiliar with trading to pursue it, instead, they should conduct research and study trading to gain knowledge of both technical and fundamental analytical skills. However, why do some people lose money when trading? They notice that the market is poised to decline when they trade. They will rush to switch rather than wait for the market to rise. And you want to make profit. How are you going to make a significant profit? For this reason, learning to be patient is just as important as knowing how to reduce risk.

Furthermore, It takes more than a week or months to accomplish a goal; instead, you must continue to learn since the more you learn, the more you will advance. The problem with trading is that, in order to avoid finding anything too tough to do, you have to follow people who have a lot of experience in the field if you truly want to become an expert.

[Aanuoluwatofunmi]

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

Most cases of the cryptocurrency trading we have, you are likely not to loose all your money invested on a particular trade, but you may loose part of it, this is because the market is volatile and you loose while over time you can also gain depending to the performance of the market and the coin you're dealing with.

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

It's true, if you don't know about trading, then don't start yet until you have an idea on what to do there, virtually almost everyone of us started from somewhere by learning how to trade till we are where we found ourselves presently being a trader.

[Smartvirus]

There is no means to making money that is exactly without risk. Any means to earning while also as a means to loss when not carefully done. Trading happens to be a way to earn quick money using your skills and knowledge of the market but, make any mistake and it could such in all your capital in a goal. For one to have any chance at doing better in trading, you need to be very much detected from your trades and have a very high level of discipline to be able to follow up on the principles you create in course of your trading/experience with the market.

It's not often about having a huge capital. Although that could push for quick achievement of your trading goals, be it long or short term but still, tye risk factor is inevitable.
When it comes to not having enough capital, the ETF programs are up to substitute for that.

It's left for you to have a well grounded skill on how to analyse and trade the market. Don't just trade, be sure to have an indicator either as a tool or an analytical pointer that determines your entry and exit point. It's one way to ensure you ain't gambling the trade and you have a plan for your trading.

[doomloop]

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?

If you are trading futures you can lose money within seconds at the peak of the market ups and downs but if you are trading spot you will not lose money within seconds. For trading I would always suggest to choose a good exchange platform like (Binance). Never trade with emotion on a trading platform because you can never trade with emotion on a trading platform trading with emotion will only make you lose. One can never be too greedy on a trading platform and one can never lose patience on a trading platform. Also a person should always use his own strategy to trade. And especially in the case of trading, trading should always be done by looking at the good news of the market.

Yeah, that is how risky trading futures but it was also highly rewarding once you get successful on your attempts. In spot trading, it is also possible to lose money in an instant. You forgot that there is a volatility. But in spot trading, it is still possible for us to recover our losses if we hold on our cryptos first.

We must only ensure that the cryptos that we have are legit because if not, then they may not recover anymore. Choosing a good exchange is indeed a must as well, because even if we are trading legit cryptos but the exchange that we are using is a scam, it will still be useless. And a legit exchange may not be alone because some still has a high fees and other hassles. The rest that you said are also true and must be followed strictly.

[terrific]

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.

It's okay to do some test and experiment when you don't know a thing or two but don't over experiment.

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?

Why so? That's fine, you only spend small amount of money and it's like going to school. You pay your tuition and you learn and you have some mishaps and mistakes and that's part of growing and learning something new.