Some topics to look for when starting trading

[AicecreaME]

I've just get back in trading, and I'm still on the process of learning but here are the topics you should look for to help you in your trading journey.

1. FVG (fair value gap)
- this is the first thing for me, it is important since it always attract prices, either for pump or dump, you just have to figure out your bias.

2. Bias
- this is very important, for you to avoid doing a counter trend trade. You should always know if the market is bearish or bullish.

3. Bitcoin Dominance
- this is also very important, because as of now, wherever bitcoin goes, everything follows. So even your technical analysis on some alts are giving you chart pattern for a reversal, trust me, it won't go that way.

These are my main three topics, and I have a lot more but it's all minors and I bet most of you guys know about it, like support and resistance, candle stick patterns, etc.

[OcTradism]

For traders, their most important task is to defend their capital.

It is very easy to lose capital in trading so to defend their trading capital, a trader must learn about most common mistakes in trading and compare the list of common mistakes to their trading practice.

Detecting their most common trading mistakes and correct these bad practice will help them to defend their trading capital.

Common Trading Mistakes to Avoid

[Natsuu]

I've just get back in trading, and I'm still on the process of learning but here are the topics you should look for to help you in your trading journey.

1. FVG (fair value gap)
- this is the first thing for me, it is important since it always attract prices, either for pump or dump, you just have to figure out your bias.

2. Bias
- this is very important, for you to avoid doing a counter trend trade. You should always know if the market is bearish or bullish.

3. Bitcoin Dominance
- this is also very important, because as of now, wherever bitcoin goes, everything follows. So even your technical analysis on some alts are giving you chart pattern for a reversal, trust me, it won't go that way.

These are my main three topics, and I have a lot more but it's all minors and I bet most of you guys know about it, like support and resistance, candle stick patterns, etc.

This is more like Inner Circle Trader Price Action model using fair value gaps. But what's most important in this concept is liquidity. According to ICT, price moves because of two things. Price hunts liquidity through taking buystops and sellstops and rebalancing imbalances in form of inefficiencies and fair value gaps. That's how you conceive a bias, or the narrative where price is likely to go to next. Bitcoin Dominance or intermarket analysis where you compare other assets to come up with fundamentals. Here you can also compare BTC with the Dollar Index.

[Oshosondy]

These are my main three topics, and I have a lot more but it's all minors and I bet most of you guys know about it, like support and resistance, candle stick patterns, etc.

They are also very important and not minor. One of the most important in trading in trading is risk management and lowering your trading risks. Some traders keep failing because they do not manage their trading funds appropriately and also because they are using to much leverage and going for other too risky trades. Another important thing are indicators, technical and fundamental analysis which soke traders neglect and not studied very well.

[Davidvictorson]

1. FVG (fair value gap)
- this is the first thing for me, it is important since it always attract prices, either for pump or dump, you just have to figure out your bias.

I think that this is also imbalance.

In my estimation one cannot learn FVG before learning technical analysis. Technical analysis is the foundation for it. You cannot understand FVG unless you have learned how to identify trends, identify patterns, and also potential future price movements. Therefore, it should be added as one of the topics to also look out for when starting trading.

I will add that when starting trading, the trader should also learn about these topics:

- Order flow
- Market structure
- order blocks

[AicecreaME]

For traders, their most important task is to defend their capital.

It is very easy to lose capital in trading so to defend their trading capital, a trader must learn about most common mistakes in trading and compare the list of common mistakes to their trading practice.

Detecting their most common trading mistakes and correct these bad practice will help them to defend their trading capital.

Common Trading Mistakes to Avoid

That's why it's important to know what you're doing, my point is, the more you know the more you're capable of doing a good trade to protect your funds. Though sometimes, losing is inevitable since the market is always unpredictable.

You can't expect to not lose anything in trading, besides, you should expect it especially if you're just a beginner. Especially in futures, risking 2-5% of your portfolio using low leverage is a very good practice of risk management.

[Awak Bambi]

That's why it's important to know what you're doing, my point is, the more you know the more you're capable of doing a good trade to protect your funds. Though sometimes, losing is inevitable since the market is always unpredictable.

You can't expect to not lose anything in trading, besides, you should expect it especially if you're just a beginner. Especially in futures, risking 2-5% of your portfolio using low leverage is a very good practice of risk management.

In starting something, especially trading, we have to expand our knowledge so that we will get something that we need to learn first before starting trading, we don't only need capital but knowledge of how the market rises and falls, what risks will occur which will cause us to fail in that matter.

When starting trading, what we must pay attention to first is broadening our horizons by studying first because knowledge is very important to do something new before starting, so that we will know what conditions will occur in trading.

[AicecreaME]

These are my main three topics, and I have a lot more but it's all minors and I bet most of you guys know about it, like support and resistance, candle stick patterns, etc.

They are also very important and not minor. One of the most important in trading in trading is risk management and lowering your trading risks. Some traders keep failing because they do not manage their trading funds appropriately and also because they are using to much leverage and going for other too risky trades. Another important thing are indicators, technical and fundamental analysis which soke traders neglect and not studied very well.

For me FVG (fair value gap) works the best rather than mapping every supports and resistance level, whether it's minor or major. It offers so much information, in my opinion, since it might vary on different traders. I only do swing trades so it's much valuable for me using FVG as my support and resistance.

I initially started using support and resistance but it only makes my chart very confusing whenever I draw lines that indicates support and resistance.

And yes, most of the newbies are going to neglect proper risk management because they wanted to have a good PNL overnight but that rarely happens.

[batang_bitcoin]

2. Bias
- this is very important, for you to avoid doing a counter trend trade. You should always know if the market is bearish or bullish.

Not just about that, someone who don't know what bias is. This is also about the hype that's being seen in the market, everyone has their own bias and hype that's being done to each project that we see. If someone is a fanatic of the project that they've invested, you'd see them being biased on it and will continue to make hype on it until people that are reading their thoughts finally gets the hype on it and start buying due to that influence that investor got.

[Husires]

Bitcoin Dominance is useful in trading, but knowing the market direction does not necessarily guarantee profits in trading. If liquidity moves from Bitcoin to altcoin, the challenge remains in knowing which altcoin will attract that liquidity after Bitcoin.
Bias is a dangerous thing in the market because it makes you see things from a different perspective, so it is essential advice.
FVG (fair value gap) is an advanced market analysis that a beginner cannot know without technical analysis.

[Mr. Magkaisa]

      -      Of course, if you are just starting out as a trader, the first thing you should take care of and don't let disappear is your capital. You should grow
it as much as possible, and don't sell it at a discount. Even if the price falls, if you have potential and the altcoins you are holding are on the top list,
just hold.

Then, while you are doing trading activity in the field of crypto, as long as you never forget the basics, always practice the basics as traders.

[yudi09]

For me FVG (fair value gap) works the best rather than mapping every supports and resistance level, whether it's minor or major. It offers so much information, in my opinion, since it might vary on different traders. I only do swing trades so it's much valuable for me using FVG as my support and resistance.

FVG (Fair Value Gap) is important and for traders, FVG is familiar because this indicator helps traders identify price gaps.
Emotional control and risk management are also more important to prioritize in trading because these are determinants of making good use of capital.
Other indicators expressed by many professional traders and experts in many spaces are also no less important to put into practice. For me, it all depends on the trader's readiness and consistency in doing so.

[Lakai01]

Bitcoin Dominance is useful in trading, but knowing the market direction does not necessarily guarantee profits in trading. If liquidity moves from Bitcoin to altcoin, the challenge remains in knowing which altcoin will attract that liquidity after Bitcoin.

Market sentiment (bearish vs. bullish) is usually irrelevant for trades because traders work on a lower timeframe (minutes) or medium timeframe (hours). Sentiment has far too little effect here to be relevant.

This is of course different for larger timeframes (1 day, 1 week, ...), where the current market sentiment can actually decide on profits and losses. In a bullish phase, for example, I would not open a short that lasts more than a week.

[Husires]

Bitcoin Dominance is useful in trading, but knowing the market direction does not necessarily guarantee profits in trading. If liquidity moves from Bitcoin to altcoin, the challenge remains in knowing which altcoin will attract that liquidity after Bitcoin.

Market sentiment (bearish vs. bullish) is usually irrelevant for trades because traders work on a lower timeframe (minutes) or medium timeframe (hours). Sentiment has far too little effect here to be relevant.

agree, its impact on timeframe (minutes) or average timeframe (hours) will be very limited or even when it does happen it is rare compared to variables that occur on a daily basis.
Trading also needs to develop a general vision of the market, and Bitcoin Dominance may help with this.

[SamReomo]

3. Bitcoin Dominance
- this is also very important, because as of now, wherever bitcoin goes, everything follows. So even your technical analysis on some alts are giving you chart pattern for a reversal, trust me, it won't go that way.

Not true always, sometimes even when Bitcoin gets dips the altcoins that are pumping at that day won't get affected by the dip to huge levels. I have personally traded altcoins during the huge dips of the market and those altcoins which were pumping to high levels weren't affected during the dips.

I believe that a trader should always follow a good trading plan with his/her own strategy. One's own strategy is way better than someone else's strategy and when it's combined with a good trading plan then the chance of having profitable trades get higher.

[BitMaxz]

Not true always, sometimes even when Bitcoin gets dips the altcoins that are pumping at that day won't get affected by the dip to huge levels. I have personally traded altcoins during the huge dips of the market and those altcoins which were pumping to high levels weren't affected during the dips.

I believe that a trader should always follow a good trading plan with his/her own strategy. One's own strategy is way better than someone else's strategy and when it's combined with a good trading plan then the chance of having profitable trades get higher.

Yes agree not all coins are affected by Bitcoin but most of the major coins are affected for every Bitcoin price action that is why there is a chart in tradingview related to BTC.D meaning dominance as you can see it is currently around 50% above meaning it still dominates most of the altcoins including memes.

That is why when you trade always analyze the BTC price action first because it can increase your validation and probability that the position you just placed has a high chance of winning that is why there is a bias included in the list above to increase your chance to win a trade.

@OP I just want to share this. Learn how to read the order book and liquidation map because it can also help where to entry and where to exit always be careful of stop-loss hunting other traders keep monitoring the market I already experienced this because my stop-loss is always hit by stop-loss hunters so beware you need to analyze price in high time frame because low time frame is usually manipulated by stop-loss hunters.

[Cryptomultiplier]

Not true always, sometimes even when Bitcoin gets dips the altcoins that are pumping at that day won't get affected by the dip to huge levels. I have personally traded altcoins during the huge dips of the market and those altcoins which were pumping to high levels weren't affected during the dips.

I believe that a trader should always follow a good trading plan with his/her own strategy. One's own strategy is way better than someone else's strategy and when it's combined with a good trading plan then the chance of having profitable trades get higher.

It would have been better if these topics were more like terms that can be defined accordingly, because one truth is that a trader may soon forget all these and does what works best despite any pump or dip seasons.
There's much that revolves around BTC also and am sure that the market trend at a time may also affect other altcoins and trading pairs simultaneously, while demand and supply may be a result of innovations and whale investors movements.

It would be okay as a newbie trader to also follow well established traders in the game and learn or study the strategies they adopted that works best for them. Even on social media and  real world,  being keen would direct one to the right people or mentors or posts that would help the potential trader grow.

[Lakai01]

Yes agree not all coins are affected by Bitcoin but most of the major coins are affected for every Bitcoin price action that is why there is a chart in tradingview related to BTC.D meaning dominance as you can see it is currently around 50% above meaning it still dominates most of the altcoins including memes.

The impact of Bitcoin on the altcoin market is of course there, yes. Mostly even in such a way that the alts reflect the price reaction of Bitcoin more clearly, e.g. falling or rising more strongly. However, this has hardly any effect on trading, as the time windows in which one trades are usually so short that neither the general market sentiment nor the current Bitcoin dominance (can) have an influence.

That is why when you trade always analyze the BTC price action first because it can increase your validation and probability that the position you just placed has a high chance of winning that is why there is a bias included in the list above to increase your chance to win a trade.

What trades are you talking about here? On short time frames (minutes, hours up to a day) you don't need to analyze or consider this, as the time frame is far too short and other factors (e.g. trading volume) have a much greater impact.

For longer-term trades (days, weeks, months) it is of course different, but the respective market sentiment (bullish vs. bearish) plays a much more important role.

[OcTradism]

That's why it's important to know what you're doing, my point is, the more you know the more you're capable of doing a good trade to protect your funds. Though sometimes, losing is inevitable since the market is always unpredictable.

You can't expect to not lose anything in trading, besides, you should expect it especially if you're just a beginner. Especially in futures, risking 2-5% of your portfolio using low leverage is a very good practice of risk management.

Knowing about risk and practicing to defend yourself and your capital from risk are different. It's big different between knowledge and practice and if you can not use your knowledge for your practice, you fail.

I am always against leverage usage because when you use leverage, you are greed and the risk is you can not control yourself to be greedier in future. If you fail in control, become greedier, from low leverage, you will change to higher leverage.

This is bad practice and you can not pray that the market and exchanges will not liquidate your positions.

[Rruchi man]

...

There are many topics to pay attention to when you start your journey to becoming a trader. With these many topics and important things to look out for, learning to trade can become totally overwhelming for a new beginner because they can begin to wonder when they will learn and understand all the topics to be able to become very good traders. The truth is that not all profitable traders have a perfect understanding of all the topics, but the few that they know, they have made sure to have a very good understanding of them, which has made trading profitable for them.

You do not need to be a master of all the topics before you become a profitable trader, understanding a few very well can increase the profit you make from trading.