Start Trading for Beginners

[Pandorak]

(...)

When you are reading the theoretical aspects of trading, or when you watching some tutorial videos on social media, you just going to think that trading is so easy, but you won’t understand that things don’t work like that, and most people are always being carried away by the videos they see online, they always think trading is easy until they start trading before they going to realize trading isn’t easy. If you are a newbie trying to learn how to trade, anything that you learn on social media, try to put all into practice to confirm if you really understand it.

Exactly, many people think that trading is very easy, perhaps likened to turning your palm. Buy or sell, wait for the price to move, profit, then withdraw. In fact it takes a lot of experience and a long track record to achieve that. It's not just about capital, but also your trading strategy that you have tested beforehand ^{[how high is the win rate]} Then you must understand money management, risk management, and even more important is trading psychology, though often overlooked this often becomes a serious issue once trading begins ^{[holding onto losses until capital is depleted and closing positions at the slightest profit]} these are the traits of beginners who cannot withstand market volatility, i personally experienced this when i first started trading.

[laspol65]

Indeed, insight and knowledge are crucial when we start trading they are the main foundation for us to trade. Without a solid foundation, In fact, the risk of loss can be very high and this job is not easy, sometimes we have to understand the various indicators and functions. However, we must remember that sometimes indicators are not a definite measuring tool, indicators are only signals, and we must combine them with fundamental analysis and risk management to be effective. It's true that trading can generate quick and substantial profits, but we must remember that without sufficient preparation, you will certainly be trapped. Yes, most of those with years of experience certainly know when the moment or opportunity arises. At that time, they enter and exit when the profit is as expected.

For me trading is more of a mental game. Knowledge and indicators are necessary but if you can't control your greed and fear, all knowledge is useless. Many people know everything but still end up losing because they break their plans. I have seen that beginners think that if they trade more, they will learn more but in reality fewer trades and more patience work. Experienced people don't always look for opportunities but rather avoid bad times. In my opinion being successful in trading means not always doing something, but also knowing when not to do something.

Yes, trading is basically about making money, but rather about gaining knowledge from everything. An experienced trader does not always look for opportunities, he sometimes takes a break and in this rest he keeps looking for success. I have seen many traders who have never been in a hurry, but they think slowly and they are able to take opportunities in bad situations.
Only those who can think correctly can achieve success in trading.

[Futurexxx]

Technical analysis is not always necessary. It is enough to know fundamental analysis, knowing how to observe the charts to see the patterns and a knowledge of the previous ups and downs. By that much knowledge you know when you can buy and when you can sell. Essentially that is all you need in order to make profit from this market.

I agree with you that you don't needs to know it all before you can make profit from the market as long as you are trading the spot market, since you just needs to buy and wait for it to appreciate in value, and once it does, you sell and make profit, but that doesn't mean that you will buy any coin you see, because you will pay for it dearly if you engage with the wrong asset.

Now if you are looking for those other forms of trading like leverage and futures, even technical analysis will fail because they are essentially gambling.

No, I think you are getting it wrong here, futures or leverage trading are not gambling as you are saying, I did agree with you that knowledge on technical and fundamental analysis are not enough to be successful while at it because you need a combination of patience, self control, taking the right set up only and having the ability to control your emotions while in the market for you to be successful in it, the only way a futures trader can seen like he is gambling is if he is trading the market blind or he is doing emotional trading, because once you are well knowledgeable in the craft, you don't enter the market ignorantly.

[Iranus]

Now if you are looking for those other forms of trading like leverage and futures, even technical analysis will fail because they are essentially gambling.

No, I think you are getting it wrong here, futures or leverage trading are not gambling as you are saying, I did agree with you that knowledge on technical and fundamental analysis are not enough to be successful while at it because you need a combination of patience, self control, taking the right set up only and having the ability to control your emotions while in the market for you to be successful in it, the only way a futures trader can seen like he is gambling is if he is trading the market blind or he is doing emotional trading, because once you are well knowledgeable in the craft, you don't enter the market ignorantly.

Conceptually, they are different, but in reality, futures trading or leverage trading is no different from gambling. Because fundamentally, the market is already very difficult to predict and no one can guarantee anything, even if you have knowledge and years of experience. Meanwhile, futures trading and leveraged trading rely on shortterm volatility, where prices are driven by news, market sentiment or manipulation. That makes prediction much more difficult, and frankly, it is an impossible task.

Once prediction become impossible but trader stubbornly continue trading in the hope that they will be right. If it is not gambling, then what is it?