What is your advised for being a trader?

[Ricardo11]

I am not a professional trader, I trade occasionally. I have lost money trading, and won a lot of money. When I trade I trade using my own strategy. For a newbie to start trading, he should first research the market, and always keep an eye on the price movement, he should always read, and trade at the right time after researching everything. Because trading is not easy, you can lose all your money due to a small mistake.

[1714732054]

1714732054

[Bushdark]

Trader or no trader, you must be ready to carry out personal research so that one could understand the market more than keep asking people fro reply and explanation on how to do some particular things. We need to be wise or else we might become a problem for ourselves. A trader need to be always ready to take risk. Risks are one of the things that could make us either successful or a failure.
People that knows how to trade very well might have been in the market for a very long time.

[tbterryboy]

Many people think that they can just do whatever they want while trading as long as they think they can make a profit. However, many things that you do should not be really considered all that available for you when you are starting out, it is not that easy, and it doesn't really help you much neither.

I hope that we could be doing something a bit better, and just take less risk. If you are starting new, some good old holding would not be a bad idea, many people should give that a big try, that would be a lot better. I know that it is not going to be too simple, but it would be something that would benefit us all. That may not give you a ton of profit, and yet you will also not lose any money neither, which is a lot more important when you are first starting.

[doomloop]

Trader or no trader, you must be ready to carry out personal research so that one could understand the market more than keep asking people fro reply and explanation on how to do some particular things. We need to be wise or else we might become a problem for ourselves. A trader need to be always ready to take risk. Risks are one of the things that could make us either successful or a failure.
People that knows how to trade very well might have been in the market for a very long time.

A successful trader is someone who takes calculated risks and knows very well how they can manage the risks they are taking with their investments. There is indeed no reward without taking any risk, but one shouldn't take risks that they can't manage or take risks without even knowing how they can minimize the risks if needed.

As a trader, you need to understand each and everything about the market you are trading in and the assets that you are trading, so that you can make quick decisions where necessary. If the market moves either up or down very quickly, and you don't react on time, you will either lose money or lose an opportunity to gain higher profits. Either way, it's a sort of loss for you being a trader.

[stadus]

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?

Never trade if you are not prepared. Although it can be learned by following its process, but jumping into trading when you’re supposed to study and acquire knowledge and basic information first is actually allowing yourself to lose consistently which I think is not good at all. Losses could be your motivational means to learn and improve your trading performance, but somehow the fact that you can still avoid those losses through learning at first and equipping yourself with knowledge and skills before you trade is still recommended.

[Webetcoins]

Many people think that they can just do whatever they want while trading as long as they think they can make a profit. However, many things that you do should not be really considered all that available for you when you are starting out, it is not that easy, and it doesn't really help you much neither.

I hope that we could be doing something a bit better, and just take less risk. If you are starting new, some good old holding would not be a bad idea, many people should give that a big try, that would be a lot better. I know that it is not going to be too simple, but it would be something that would benefit us all. That may not give you a ton of profit, and yet you will also not lose any money neither, which is a lot more important when you are first starting.

Taking less risk sounds like a bad advice to many people because we are in crypto and risk is all around us. But the reality is that you are right, taking less risk is a lot better and we should all be doing that. The fact is that investing into bitcoin long term is a "risk" but investing into apecoin for long term is a risk too, and we all know that is a much higher risk.

So, when you are investing, or even trading, take risk into consideration and take a risk that would make sense, not one that would be useless. Plus taking X amount of risk for a 100% return and taking a 100X risk for a 200% makes no sense, you are taking hundred times more risk, but you are hoping for a twice higher profit, why would you want to do that?

[Mehedi72]

There's no trader, who hadn't loss yet. Trading isn't like you'll make profit continuously. If You profit in trading that means one user loss that amount and when you loss, that means other guy is making that money as profit from you. So it is necessary to build up mentality that you can loss anytime. And I also don't support thay statemen. You need to make yourself ready before trading and This is why you have to choose everything properly. Proper place like binance, of course trading with good coin, don't be greedy by using high leverage in future trading, budget fund for trading, using stop loss for more loss, try to know about moving averages,  (RSI), (MACD), and Bollinger Bands for better analysis. And track the altcoin activities, event before start trading. And patient is important,. Don't be a panic seller

[pusaka]

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?

Never trade if you are not prepared. Although it can be learned by following its process, but jumping into trading when you’re supposed to study and acquire knowledge and basic information first is actually allowing yourself to lose consistently which I think is not good at all. Losses could be your motivational means to learn and improve your trading performance, but somehow the fact that you can still avoid those losses through learning at first and equipping yourself with knowledge and skills before you trade is still recommended.

Knowledge is the basic thing that we must have when we want to do something, in everything including trading. If we do something without knowledge and only capitalize on courage, in my opinion it is not wise at all.
The next question is whether knowledge is enough? Of course not. We must have capital and what needs to be remembered is that we must use capital that is truly free or in other words money intended for trading. Apart from that we must have a strong mentality, especially the mentality when we experience losses. Many people I see they are not fully prepared but force themselves, it can be an invitation for something bad to come in the end.

[Hamphser]

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?

Never trade if you are not prepared. Although it can be learned by following its process, but jumping into trading when you’re supposed to study and acquire knowledge and basic information first is actually allowing yourself to lose consistently which I think is not good at all. Losses could be your motivational means to learn and improve your trading performance, but somehow the fact that you can still avoid those losses through learning at first and equipping yourself with knowledge and skills before you trade is still recommended.

Knowledge is the basic thing that we must have when we want to do something, in everything including trading. If we do something without knowledge and only capitalize on courage, in my opinion it is not wise at all.
The next question is whether knowledge is enough? Of course not. We must have capital and what needs to be remembered is that we must use capital that is truly free or in other words money intended for trading. Apart from that we must have a strong mentality, especially the mentality when we experience losses. Many people I see they are not fully prepared but force themselves, it can be an invitation for something bad to come in the end.

Knowledge and having that versatility is the key for you to have that kind of success on a certain venture on which this isnt really just that limited on trading but also in other ventures as well.
Other learnings could really be acquired through experience and this is why you cant be able to complete out those learnings because others are really not been able to be attained.
Sooner or later it would really be something that you would be able to encounter and with that then you would be making out those kind of adjustments on which this is something that you would really be
needing to do so.

As a trader then you should really be that versatile and really be that having that kind of adaptation on whatever circumstances that you would be able to encounter or something that you
could really be able to get a hold off. If you are really that not mindful much about those gaps and mistakes then you wont really be that progressive.

[RockBell]

Many people think that they can just do whatever they want while trading as long as they think they can make a profit. However, many things that you do should not be really considered all that available for you when you are starting out, it is not that easy, and it doesn't really help you much neither.

I hope that we could be doing something a bit better, and just take less risk. If you are starting new, some good old holding would not be a bad idea, many people should give that a big try, that would be a lot better. I know that it is not going to be too simple, but it would be something that would benefit us all. That may not give you a ton of profit, and yet you will also not lose any money neither, which is a lot more important when you are first starting.

if anyone is coming into trading with that kind of mindset then that person does not look like someone who will make a profit because nobody will stop you from taking so trading actions but your funds will be the ones that will be in for it and that is why they are always warning, to be always careful when you want to trade because there plenty mistakes when trying to gamble that must even be avoided, but you know some stubborn people don't care about any action they take, and since its there money and there choice to do what if they want to do then when they finish wasting all there money because of disobedience then they will know the value of instruction. and people with I don't care attitude should better still just hold, and leave there and no stress of analysis. anything that has to do with money is always not easy. and since it is something of benefit why not take time to understand it and be the one to benefit from it, people do not just want that money.

[Sanitough]

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.

That’s the most basic and simplest strategy in trading, and yet a lot of traders are struggling to follow it. It’s as simple as that, buy low and sell high. However, without patience and being greedy when trading, one cannot wait for the perfect time to sell which is when bull run happens, but will decide to sell their coins irrationally without assessing their decision making. Obviously, with that attitude, he will never gain success in trading.

Furthermore, since trading cannot guarantee all time profitability, then I encourage those traders to always take time to sell when they see potential profits in the market. It does not matter whether the profits are big or small, what’s more vital is that when one decides to sell, at least he won’t be at a loss, or he won’t miss good opportunity to make profits in trading.

[$weetne$$]

There's no trader, who hadn't loss yet. Trading isn't like you'll make profit continuously. If You profit in trading that means one user loss that amount and when you loss, that means other guy is making that money as profit from you. So it is necessary to build up mentality that you can loss anytime. And I also don't support thay statemen.

No average trader has lost but there are some traders that have inside information and they're using it to make profits everytime they want to trade. They mightn't be trading everyday but only when they have the right information for them to use and make profits. When you make profits in trading, it's not every time that another trader lost before you made that profits. Some traders are entering the market at that very point that you're selling and some investors are buy that coin that you're selling so they can use it as an investment therefore it's not every time that a trader have to lose before you can make profits. Cryptocurrency market is global and open all the time therefore when you're selling another trader or an investor is buying and they too can make profits when they sell in the future.

[pusaka]

Knowledge is the basic thing that we must have when we want to do something, in everything including trading. If we do something without knowledge and only capitalize on courage, in my opinion it is not wise at all.
The next question is whether knowledge is enough? Of course not. We must have capital and what needs to be remembered is that we must use capital that is truly free or in other words money intended for trading. Apart from that we must have a strong mentality, especially the mentality when we experience losses. Many people I see they are not fully prepared but force themselves, it can be an invitation for something bad to come in the end.

Knowledge and having that versatility is the key for you to have that kind of success on a certain venture on which this isnt really just that limited on trading but also in other ventures as well.
Other learnings could really be acquired through experience and this is why you cant be able to complete out those learnings because others are really not been able to be attained.
Sooner or later it would really be something that you would be able to encounter and with that then you would be making out those kind of adjustments on which this is something that you would really be
needing to do so.

Definitely, we should not limit knowledge to certain things, because knowledge is a must-have in many aspects of life, maybe "more" knowledge in one sector, such as trading or anything else will make us have a plus point in doing something.
Aside from that, if we talk about skills as a whole, we must also have skills, skills will make us at a different level, especially if we can use those skills very well.

As a trader then you should really be that versatile and really be that having that kind of adaptation on whatever circumstances that you would be able to encounter or something that you
could really be able to get a hold off. If you are really that not mindful much about those gaps and mistakes then you wont really be that progressive.

Adaptation is an important part of life, and trading is no exception, it is necessary so that we can become better traders in the future. Actually, without us realizing it, adaptation runs naturally, because the longer we are in the world of trading, it will open up opportunities for us to understand more about trading. However, this must be done seriously, because I believe that if something is done just for fun, or just to make a profit, it will not have a maximum impact on us. I understand the true purpose of trading is to make a profit, but what I mean here is something more than that.

[Lukmanfirdaus1]

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

Risk management is an important point in trading in my opinion. So if you have risk management, you will not enter the market carelessly, you will not enter the market because of the trend and of course you will enter the market already prepared.

So What things do you follow and advice before open a trade?

1. Use as much money as possible if trading losses do not have an effect on your life.
2. Look for a coin that you like, it could be the top 20 coinmarketcap, if I may give you advice, stay away from meme tokens or anything related to shitcoins.
3. Any analysis is fine, what suits you, DCA, SNR, or others is up to you, because I believe that each person has a unique style and strategy for each individual.
4. Lastly, most importantly, don't be greedy.

[Tomcolor]

I faced terrible losses in the beginning while trading because I was a new crypto user. Then I realized that trading is not an easy thing and can make a person greedy and poor. The most important thing is knowledge because when you are going to start a business think about how much knowledge you have about it. There is no perfect trade in trading so your loss or profit is all managed by your patience and skill.

[freedomgo]

Trading is a serious thing. You can't just go on trading and risk your funds because you want to double or triple the current amount of your funds. That is so absurd to think. Trading is not the only source to multiply your funds, but by investing into physical businesses or go for bitcoin long term hodling, those are safer options.

However, if you want to go out from your comfort zone and try a risky thing like trading, then it's actually your choice. But as a friendly suggestion, never gets into trading if you are not well prepared enough. Not only to your finances, but also on the acquisition of knowledge and skills that you are opted to have, and of course if you want to trade, be prepared to lose as it's a normal scenario when trading.

[shinratensei_]

never trade out of emotion after you're having losing streak is one thing that prevented me from going all in and eventually lose it all, know your limit maybe its not the best day you're having, move on, try to do something relaxing like walking around or doing your hobby like sports, then come back tomorrow, it will keep you sane, increase the ability of making wiser decision.
also when you miss an opportunity, it doesn't mean world is ending, it just means that you should wait for another opportunity, the market is up 24/7 for whole year, if you think you're missing out on opportunity and getting devastated easily, just think whether there gonna be an even bigger opportunity and you should strive for that, overall, always trade with cool head.
otherwise be prepared to empty your wallet.

[Mame89]

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 indeed an activity full of risks, but many traders, especially beginners, who trade by guessing must stop immediately. Prioritize each trade by doing your own research.

Apart from that, the best advice is perhaps we should avoid hesitation. If you are unsure about trading then don't force it because hesitation is not always a good behavior to add. The best way to learn is through experience and observation, being detail-oriented and disciplined.

Have a system that you know works, not just guesswork. At least by reading the latest news, you may be able to spot consistent behavior that leads to market movements and will help. if you know one or more cryptocurrencies that have fundamentals then it will be easier to do so. So trade cryptos you know well versus cryptos you know nothing about and it makes perfect sense.

[LogitechMouse]

~
So What things do you follow and advice before open a trade?

Nah just forget about opening a trade, and just copy those expert traders out there.
Kidding aside, I tried trading already. Three times to be exact, and I lost in all of those 3 times.

I will not give much advice because I'm not a successful trader, but what I know is that, before clicking that buy/sell button, make sure that you're always ready in whatever situations might happen. What I mean is that, if things go your way, you must have a selling strategy. The same goes when things aren't going your way. You must have an exit plan or a stop-loss plan.

Also, disregard your emotions. Emotions are one of the main reasons why traders lose their money. Some pare panicking when they see their positions down double digits. Some are making unnecessary decisions when they see that the market is going down. Traders are making bad decisions because they get too emotional. I learned how to be emotionless most of the time in trading. It's just that, there are times when my emotions are getting me hence, I make very bad decisions that make my capital disappear. One wrong decision can make your capital wipe especially when you're trading in the future.

Overall, trading is a risky thing especially when you're a newbie. Many give advice such as "Stay away from trading" blah blah. I would say, let them experience and from there, they can decide whether they will continue trading or not. Learn to be patient, learn to be emotionless, always have a strategy.

[Bigsharp]

My advice for being a trader you should the market closely before thinking of trading make sure you learn from pro trader

If you earn from hand to mouth I don’t advise you to become a trader instead you should be a Bitcoin investor

You can work for your whole life to become a trader and this your whole life hard earn money you decide to enter the market with it you can lose your whole life saving over an hour

Before thinking of becoming a trade you should take a breath and go for medical check up to know you capability when you lose money if you can survive it Else the risk in trading is much for an average individual to stay over night and think of becoming a trader when you don't know the side effects