Simple practices to improve trading (2).

[Rruchi man]

I don't see anything wrong with using a signal group since we all know that 70% crypto trading is based on fundamentals and one would have to be ready to explore it by joining signal group to get quick information about the crypto market. We should be always ready to take trades and also check information about the market since that is the order of the day when it comes to trading.

The simple thing wrong with using signal groups is the dependence you can develop from using them because of how easy they will make the trading process.

We can make money even when we join signal groups that will keep giving us information about the market.

The same information can be gotten yourself if you find out how, and when you find out how, it becomes a lifelong skill because you will always know how to stay informed.

[1714822023]

1714822023

[Hamphser]

The best practice to be successful in trading or to improve your trading skills is to gain theoretical knowledge at first. Read articles or books about trading and make yourself equipped with the knowledge. Secondly once gain the required knowledge, try trading with demo balance and account. Don’t rely on other people’s opinions or calls, and try to analyse the market yourself. Have patience and show faith in the market. You will definitely improve trading and make profits through this.

Suiccess is something that would really be pertaining on how well you do make yourself that be able to handle up in trading on which it would really be just that a normal approach that you would really be needing up to do the things which are really that sensible on doing so because once you would just simply ignore these things then you cant really be that progressive.

Deal up with real trades with actual balances, other learnings could really be acquired through real experiences on which this would really be something that normal. It is really just that there are ones
who do really love on having that kind of easy and doesnt really like on experiencing those hard situations but rather prefer on having that easy and comfortable but we do
know that its impossible for you to be able to attain success without hardship. Let yourself that realize these things.

[Alone055]

The same information can be gotten yourself if you find out how, and when you find out how, it becomes a lifelong skill because you will always know how to stay informed.

Even though it's not that difficult, some people are too lazy to do that which is why they look for shortcuts. Shortcuts for trading can either be copy-trading features provided by exchange platforms or joining signal groups on Telegram or other messaging apps where you get trading signals to get profit which I have never tried myself so I can't share any experience. However, I have always wondered how can they have so many successful trades and still beg members to join their premium groups only for $10 to $15 a month.

You can find hundreds of unsatisfied and frustrated newbie traders on social media all the time, those are the ones who can't get rid of this dependency and when they don't get success as they expected, they become angry and frustrated, might even abuse the market and cryptocurrencies for their losses but they would never blame themselves for not trying to learn something before they got into trading and blindly following others.

[Sorryfor]

Yes the above tips in trading can be very effective for a newbie trader. Also I think before trading he must know the workings of it well, also there are other things he must avoid. It can be said that a new trader should never trade with large amounts in the beginning. Through this his money may have a huge risk through which he will suffer financially. Also as a newbie trader if possible he can be in contact with a skilled successful trader through which he can learn many things which is not possible to learn normally.

[Finestream]

This is indeed a motivating thoughts that came from you mate, and I really cherish to absorb those very important insights which contributes to the knowledge that helps us improve with trading despite the fact that many scammers roaming around the world of internet.
What I like about is the one you mentioned about emotional control, because on my personal experience I was also a facing struggles those days when my assets begun to suffer of market dip. I've been through hardships and sleepless nights, but I need to move on and continue to learn new ways to improve my trading abilities. Because if we give up, nothing will happen will become loser of our entire life.

I think everyone struggles with controlling their emotions while in trading, most especially if you are at the peak of losing. Although this is certainly quite hard as we eventually turn very emotional when we see our trades turn into losses, but with consistent trading experience and trading at the amount you are comfortable of losing, I believe you will come to manage your losses without involving too much of your emotions, hence wrong decision making will also be avoided.

[lalabotax]

- Practice demo trading, although not all traders started with Demo trading because some traders actually could handle the risk of loosing.

The trading demo is indeed quite helpful. At least we first understand the interface and trading mechanisms in general first. only after that start learning about how to analyze the market. Demo trading may not provide a very significant sensation for mental development, but it will be quite clear and increase knowledge about cryptocurrency trading on the exchange quite well.

- Whenever you loose in trading, always return back to find out the reason why you failed

This is something that is not easy to do, because sometimes, we will actually feel very stressed when we lose trading. However, it is true, whatever it is, when we are ready to trade, we should have various strategies and tactics to make the most appropriate decisions for our trading. and this is something that must be done and owned, if you want to develop into a professional trader.

- Do not depend on signal groups.

Exactly, don't trust trading signals 100%, especially if you want to spend a lot of money to register with the VIP signal group. They won't be able to guarantee it, and you also can't use it if you yourself are not able to use it well and appropriately. Because signal trading has no guarantees either. You must also have knowledge to apply these trading signals.

[Rockstarguy]

Trading with a demo account will never improve someone's trading abilities. Most of the traders who start with demo accounts end up losing a lot of money when they start trading with real money. In demo trading our emotions aren't triggered but when it comes to real trading then our emotions go get triggered and we start feeling panic if we see price dropping where we wanted it to move upward. So I guess a new trader should better begin with low amount but it should be real money not virtual money that's credited to demo accounts.

Practicing with Demo account is good as a new trader but it is wrong to just depend on it that it can sustain or help when doing real trading in the market. For me I think after one might have practice trading with Demo account it will be better to also enter the real market with just a little fund to get the real knowledge and better experience.  When we trade with the real money the experience,  feelings we come across also contribute in learning more about trading . If you one depend on demo training and decides to enter the real market with good sum of money it will end  up as big lose.

In trading no knowledge is a waste, learning with Demo is not bad but this should not be the end of learning thinking the knowledge from demo trading is enough to start up the main trading.

[fullhdpixel]

These are a few, and I am sure there are more from other traders, please share to the benefit of us all.

I usually use two strategies in trading, I divide money into two parts in trading. I do sports trading in the current market with one part of money, and another part of money I keep in reserve tofil. And if the market is dumping more then again I can sport trade from that fund again. I have had considerable success using this technique and have been successful in reaping benefits a few times.

I think you are referring to spot trading by saying "sports trading", I was a bit confused at first but then I realized that is what you are talking about.

Your strategy is a good one because having some funds as a back up while you are trading can be a good thing when the market is extremely volatile and since we never know which side the market might move next, having some extra funds can help you make some more purchases when the market dips from the point where you have bought earlier.

This way, if the market goes up from where you bought earlier, you can take a profit, and in case the market goes down from there, you can add more to your bag so that you can get more profit when the market recovers from the dip.

[el kaka22]

Best "training" that I have seen in general is the fact that you have to pick a personal favourite strategy that you like and keep doing that many times over. There are a lot of people who made the mistake of picking others strategy and ended up with a greater return in the end and tell you that you should follow them, that is a wrong move because that won't work the same way for you.

However, if you pick something you like and keep trading that over and over and over again, that experience will eventually get you to make a lot of money in the end and will be the best way to approach things. I personally believe that the best way to go would be just making sure that you could end up with a good profit eventually.

[stomachgrowls]

Trading with a demo account will never improve someone's trading abilities. Most of the traders who start with demo accounts end up losing a lot of money when they start trading with real money. In demo trading our emotions aren't triggered but when it comes to real trading then our emotions go get triggered and we start feeling panic if we see price dropping where we wanted it to move upward. So I guess a new trader should better begin with low amount but it should be real money not virtual money that's credited to demo accounts.

Practicing with Demo account is good as a new trader but it is wrong to just depend on it that it can sustain or help when doing real trading in the market. For me I think after one might have practice trading with Demo account it will be better to also enter the real market with just a little fund to get the real knowledge and better experience.  When we trade with the real money the experience,  feelings we come across also contribute in learning more about trading . If you one depend on demo training and decides to enter the real market with good sum of money it will end  up as big lose.

In trading no knowledge is a waste, learning with Demo is not bad but this should not be the end of learning thinking the knowledge from demo trading is enough to start up the main trading.

Demo trading would really that good when you are zero knowledge or complete newbie with trading on which famiiliarization when it comes to those trading terminologies and other similar stuffs.
Get yourself to learn up even with those basics and on the time that you have seen yourself on learning enough then it would really be the best time for you to go with live trading.
Just like on what others been saying that live trading would be better directly even if you are a noob which its not really that a bad recommendation but if you arent that
confident then you could start up with demo and practice yourself.

On the time that you are already that familiar with those tools and other terms then this is the time that you would really be making out such transition into live.
There are things that you cant be able to learnt up on demo which you could be able to learn on the time that you would be trading with live.

[alastantiger]

Practicing with Demo account is good as a new trader but it is wrong to just depend on it that it can sustain or help when doing real trading in the market. For me I think after one might have practice trading with Demo account it will be better to also enter the real market with just a little fund to get the real knowledge and better experience.  When we trade with the real money the experience,  feelings we come across also contribute in learning more about trading . If you one depend on demo training and decides to enter the real market with good sum of money it will end  up as big lose.

Demo trading is like going to the forest with a forest guide. Live trading is like being in the forest alone with wild animals. There's always a demo trading illusion and illusion isn't a joke. Once I got caught in that illusion with my demo results earlier last year. I made a 40% return in the month of March with proper risk and execution, then next thing you know, my ego is all fired up, I foolishly hopped into  live trade environment and my equity started to get smashed because of emotions. Since then, I have gotten books on trading that has been helping me reinforce my understanding around trader psychology and management of a trade.

[SamReomo]

In trading no knowledge is a waste, learning with Demo is not bad but this should not be the end of learning thinking the knowledge from demo trading is enough to start up the main trading.

Learning with Demo account is recommended for those traders who don't have any amount to start trading, but those who want to make trading a way to make long term profits should move to real account instead of making virtual trades with a demo account.

I believe that someone who can afford to invest $10 per month on trading should move to real trading account then learning with demo account. I personally recommend demo account to only those who don't have anything to invest in it, otherwise I would never recommend anyone to go with a demo account.

[wxa7115]

In trading no knowledge is a waste, learning with Demo is not bad but this should not be the end of learning thinking the knowledge from demo trading is enough to start up the main trading.

Learning with Demo account is recommended for those traders who don't have any amount to start trading, but those who want to make trading a way to make long term profits should move to real account instead of making virtual trades with a demo account.

I believe that someone who can afford to invest $10 per month on trading should move to real trading account then learning with demo account. I personally recommend demo account to only those who don't have anything to invest in it, otherwise I would never recommend anyone to go with a demo account.

It is better to trade with money on the line, even if the amount is small, as this will allow a trader to feel the pressure that comes with having the need to outperform the market or lose money in the process, a feeling which is not there if you just use a demo account.

However demo accounts also have their place, as their biggest advantage is that you can try as many strategies as you can create, and even if on paper you are suffering huge losses, the reality is that your capital is still protected and you have nothing to worry about.

[Lakai01]

[...]
I believe that someone who can afford to invest $10 per month on trading should move to real trading account then learning with demo account. I personally recommend demo account to only those who don't have anything to invest in it, otherwise I would never recommend anyone to go with a demo account.

I don't see it that way at all, no, and it also contradicts everything you learn in trading courses or from professional traders.

To be successful in trading, two things count above all: a fixed plan that you stick to (entries, exits, ...) and the necessary mental strength to follow through with the plan. Newcomers in particular do not have either and 99% of them will fail if they start with real money.

Here it helps immensely if you gain months (!) of experience about yourself and the market without actually losing money. Demo accounts or very simple paper trades in an Excel file are an incredibly helpful support here and ensure that you pay significantly less learning money. A newcomer who starts with 10$ real money can just as well play on a gambling platform until the money is gone, as the entertainment value is usually greater.

[Bushdark]

We can depend on signal group for us to make money from trading especially when we are not so good at analyzing the market to know what could possibly happen next in the market. We need to be a wise trader for us to keep making money whether from a signal group or from analyzing the market by ourselves. We need to be wise and make sure that we don't do things that would attract greed in trading because this has been the major problem of many traders turning trading to gambling.
 

[Natsuu]

We can depend on signal group for us to make money from trading especially when we are not so good at analyzing the market to know what could possibly happen next in the market. We need to be a wise trader for us to keep making money whether from a signal group or from analyzing the market by ourselves. We need to be wise and make sure that we don't do things that would attract greed in trading because this has been the major problem of many traders turning trading to gambling.
 

This is not sustainable in the long run because you are relying too much on other people's analysis. Well of course in signals, the only control you have then is risk management. You're gonna lose in trading anyways, so it's better that you lose money because of your own thinking and conviction and learn from your own experience. For me it would be wiser, to pay for mentorship than signal group. Because shouldn't be concerned about making money but making a system that works for you. So you have a process and that process will make money for you.

[Yamifoud]

A trader never stops learning and even if they have already reached the top, they still doing this in order to improve more and also because of the changing situation of the market. A lot of things that need to know when you are doing this much more if you are just a newbie and you will have to use all means in order to acquire more knowledge.
 - demo accounts have been a good start for newcomers. Most trading platforms offer this one just to help learners. Exposing ourselves to real trade gives us more learning but using a demo account is a way to familiarize how trading works and a sort of preparation for a bigger responsibility when you are now using real money in a real trading scenario.

[bettercrypto]

As a notice, I originally created this topic on altcoinstalks, but because there is a larger traffic here, I like to share it here too because I believe that in addition to my observations, there will be other observations from other more experience people that we can randomly learn from.

Some simple practices can help a newbie trader to quickly improve on his/her trading skills. some of these practices are very simple, can be done alone or best with another newbie trader who wants to become an expert trader. Some of these practices that I have observed are;

- Practice demo trading, although not all traders started with Demo trading because some traders actually could handle the risk of loosing.
- Be consistent, and to encourage or learn consistency, you can start a 21 days trading challenge with a fellow newbie trader, or a trading challenge for as long as you want. If you do a challenge with someone, the person can encourage you when you feel like quitting from the challenge due to failed analysis or other reasons.
- Whenever you loose in trading, always return back to find out the reason why you failed.
- Do not depend on signal groups.
- Practice emotional control.
- Do not focus on too many cryptocurrency pairs.
- Join a community of traders.

These are a few, and I am sure there are more from other traders, please share to the benefit of us all.

The practice of emotional control is something that should be learned very well because many people miss it most of the time. The ones that are always brought by emotions, especially if suddenly there are massive amounts dumped in the coin they are holding. The result is that they always end up panicking and panicking, which leads them to end up selling at a loss, which should not be done, especially if the crypto they are holding has real potential.

So, when it is really studied well, it is certain that such scenarios will not just lead to an unexpected drop in the coins we hold in the market. Instead, we will always be calm because we know the movement in this type of industry in the crypto space.