Start Trading for Beginners

[Wakate]

Starting with demo is a good start. But don't be too overwhelmed with the results there because in real life, trading with real money is still completely a different thing and world that a beginner has to deal with.

When I started out as a trader I didn't really know the importance of trading view, apart from looking at the chats carefully it also helps you do your analysis properly when you are drawing your trend lines...But instead of jumping right into a y of these as a beginner you should start from using a demo account first, you can follow all these steps you mentioned and not understand how the psychology of trading works, this can be a problem

It becomes a problem when that beginner trader wants to rush things. Coming up with a plan of being rich with trading but don't want to go through the process of it is certainly a big problem that they have to deal with.

Starting with a Demo is not even classified as trading because with that, emotional loses are not attached to trading. I do advise newbies to be very careful when trading using demo accounts because it does not reflect a sign of real trading and I've noticed that people that used more demo for learning how to trade do have that time to adapt when trading live.
Just imagine you spending hours leaving a trade to go different direction without any emotional attachments because it's not real money. When that kind of person uses real money, their will be a drastic change in trading mindset telling you that you have to leave the market in order not to incur accessive loses.

[ndutndut]

Starting with demo is a good start. But don't be too overwhelmed with the results there because in real life, trading with real money is still completely a different thing and world that a beginner has to deal with.

When I started out as a trader I didn't really know the importance of trading view, apart from looking at the chats carefully it also helps you do your analysis properly when you are drawing your trend lines...But instead of jumping right into a y of these as a beginner you should start from using a demo account first, you can follow all these steps you mentioned and not understand how the psychology of trading works, this can be a problem

It becomes a problem when that beginner trader wants to rush things. Coming up with a plan of being rich with trading but don't want to go through the process of it is certainly a big problem that they have to deal with.

Starting with a Demo is not even classified as trading because with that, emotional loses are not attached to trading. I do advise newbies to be very careful when trading using demo accounts because it does not reflect a sign of real trading and I've noticed that people that used more demo for learning how to trade do have that time to adapt when trading live.
Just imagine you spending hours leaving a trade to go different direction without any emotional attachments because it's not real money. When that kind of person uses real money, their will be a drastic change in trading mindset telling you that you have to leave the market in order not to incur accessive loses.

A demo account will still be the primary choice for beginners, but this is for technical learning only. It's not necessary to use a demo account for a long time, as this will have fatal consequences. As you mentioned, using a demo account continuously won't train our mental skills, and it won't improve our psychology because we're not using real money.

So, after learning the technical aspects of a demo account, it's best to start with a small amount of funds so you can truly control your emotions during market fluctuations. Trading requires direct involvement; theory and practice must go hand in hand so we can learn from mistakes and evaluate our trading results. In a demo account, it's difficult to achieve that kind of emotional control because we're not using real money. So, I agree with you that you shouldn't get used to a demo account, as it doesn't reflect real trading and won't improve your trading in the future.

[justdimin]

Those who want to trade can use demo account to understand how trading works. While they learn trading, they can practice their lesson.

They can analyze the market using demo account so they will get more experience and know what they need to do. Using demo account can help them to improve their skill so there is nothing to worry about when they are in online trading.

If they think they are ready for real trading, they can start with a small fund.

Demo accounts are underutilized in the crypto world, in reality it is such a great way to learn and be better, but unfortunately they lacked it and didn't do it and because of it ,they failed to get the best out of themselves. There aren't really any ways that you can make this into something that can actually turn into a great way of making money from learning how to trade based on demo accounts.

Eventually, it would make you better. Most people start right away, and that's wrong, they shouldn't do that, it just doesn't work that way. It should be done in a better way with demo account first. Lets see if people would be willing to do it, but I bet that they won't be able to do it just yet, it will take a while for that to be more common.

[Wakate]

Starting with demo is a good start. But don't be too overwhelmed with the results there because in real life, trading with real money is still completely a different thing and world that a beginner has to deal with.

It becomes a problem when that beginner trader wants to rush things. Coming up with a plan of being rich with trading but don't want to go through the process of it is certainly a big problem that they have to deal with.

Starting with a Demo is not even classified as trading because with that, emotional loses are not attached to trading. I do advise newbies to be very careful when trading using demo accounts because it does not reflect a sign of real trading and I've noticed that people that used more demo for learning how to trade do have that time to adapt when trading live.
Just imagine you spending hours leaving a trade to go different direction without any emotional attachments because it's not real money. When that kind of person uses real money, their will be a drastic change in trading mindset telling you that you have to leave the market in order not to incur accessive loses.

A demo account will still be the primary choice for beginners, but this is for technical learning only. It's not necessary to use a demo account for a long time, as this will have fatal consequences. As you mentioned, using a demo account continuously won't train our mental skills, and it won't improve our psychology because we're not using real money.

So, after learning the technical aspects of a demo account, it's best to start with a small amount of funds so you can truly control your emotions during market fluctuations. Trading requires direct involvement; theory and practice must go hand in hand so we can learn from mistakes and evaluate our trading results. In a demo account, it's difficult to achieve that kind of emotional control because we're not using real money. So, I agree with you that you shouldn't get used to a demo account, as it doesn't reflect real trading and won't improve your trading in the future.

I am aware that demo trading is necessary for a trader to know how to trade in the market but when we use it too frequently, we could get addictive and become a worse trader when we finally go live. Every traders must understand that using demo trading for too long is not good for their welbeing as a trader and we need to avoid accessive use.

Since this does not guarantee that we could become a better trader when we use demo account to learn the technical aspects of the market, it is important to use it with caution to avoid getting used to it. I used it during my early stage while learning how to trade.

[harapan]

I believe this beginners guide would be of great help and really expand the knowledge of a new trader but it seems your writeup explains more of forex trading but either ways it explains a lot about trading to the beginners. And I also suggest a demo account for the start that way one can learn to handle what's before him before migrating to money at hand.

[tottong]

I believe this beginners guide would be of great help and really expand the knowledge of a new trader but it seems your writeup explains more of forex trading but either ways it explains a lot about trading to the beginners. And I also suggest a demo account for the start that way one can learn to handle what's before him before migrating to money at hand.

Most people involved in crypto aren't particularly interested in forex, making it difficult to discuss trading opportunities in that area.
Of course, there are positives and negatives to trading, so what's needed is to practice discipline and simply learn to find the right strategy when starting.
Starting with a demo account can be better, so people can practice how to trade properly, but it's important to remember that engaging in a demo account versus a live account is very different, as psychological factors can also influence the situation.
Train yourself to gain a good understanding of trading and try using smaller capital responsibly

[Negotiation]

Before you start trading you need to know the market well if you trade on impulse you will most likely end up losing money trading involves risk, so it is important to know how to minimize risk this is especially important for beginners. They should also test how different trading strategies work it is true that demo trading helps prepare you for the stress of real trading to some extent. Although the stress of real money trading is different it is essential to gain the right knowledge and practice without rushing to succeed in trading.

[alastantiger]

Eventually, it would make you better. Most people start right away, and that's wrong, they shouldn't do that, it just doesn't work that way. It should be done in a better way with demo account first. Lets see if people would be willing to do it, but I bet that they won't be able to do it just yet, it will take a while for that to be more common.

Demo accounts are good way to understand how the market works but we shouldn't rely completely on demo accounts because they don't give the real feelings of trading like a live account that has the risk of you losing actual money and not fake money as demo accounts do. Use demo to learn but before practice make small deposits as test for real money. If nobody is going to tell you, I'll because there's a big difference between trading live and using demo but with demo, you can practice your strategies and make them prefect to avoid mistakes when trading with real money. Beginners starting their journey in trading don't get it easy despite thinking they have gotten all the information needed to become professionals.

[HistoLock]

Trading is very risky due to the volatile nature of crypto, this is why it is very risky to be a trader. Beginners should not jump into trading thinking that it is a means to make quick profit, because it's the opposite. If you want to be a professional in trading, you must learn be ready to take the risk because running at loss is inevitable.

Using demo account to learn how to trade wouldn't improve your trading ability, because when you enter the real market, it's a different thing entirely from what the demo account is. Only trade with the amount of money that you can afford to lose. Learning the fundamental analysis and technical analysis is very important as a beginner.

Yes you are right your comment is very important. I think trading is very risky for beginners. To trade, you first need to learn technical analysis and have a good understanding of the market. Since beginners do not have a good understanding of it, they should not do risky things like trading so quickly. So I would say you understand and learn from good traders and then trade. Another point of yours that impressed me is that learning trading with a demo account. I would say if someone learns trading with a demo account and comes to trade in the real market, he will not understand the speed limit of the market and will lose money. You can learn to trade in the real market with a small amount of money as much as you can afford to lose. You must remember this if you are new, you must be ready to take risks. If you do not take risks, you will not be successful here.

[pusaka]

Eventually, it would make you better. Most people start right away, and that's wrong, they shouldn't do that, it just doesn't work that way. It should be done in a better way with demo account first. Lets see if people would be willing to do it, but I bet that they won't be able to do it just yet, it will take a while for that to be more common.

Demo accounts are good way to understand how the market works but we shouldn't rely completely on demo accounts because they don't give the real feelings of trading like a live account that has the risk of you losing actual money and not fake money as demo accounts do. Use demo to learn but before practice make small deposits as test for real money. If nobody is going to tell you, I'll because there's a big difference between trading live and using demo but with demo, you can practice your strategies and make them prefect to avoid mistakes when trading with real money. Beginners starting their journey in trading don't get it easy despite thinking they have gotten all the information needed to become professionals.

I agree, the sensation of trading on a demo account and a live account is not the same. The emotions generated by real trading are very pronounced, whereas when trading on a demo account, we may not feel the same emotions because there's no real money involved.

However, a demo account is very helpful in learning the ins and outs of trading, such as how to enter, apply take-profit and stop-loss orders, and so on. We can also learn to apply strategies and conduct analysis because there are so many features available for analysis.

[gunhell16]

What you're saying seems more related to Forex, which requires a broker, is that right? But here you are in the crypto community, where most people are focused on crypto trading,
which doesn't require a broker.

Aside from that, anyone can trade here in the crypto space with just a small amount. Unlike Forex trading, we know it's only open every weekday and closed on weekends.
Meanwhile, in the crypto space, trading operates 24/7 for any trader in this field.

[Awaklara]

I agree, the sensation of trading on a demo account and a live account is not the same. The emotions generated by real trading are very pronounced, whereas when trading on a demo account, we may not feel the same emotions because there's no real money involved.

However, a demo account is very helpful in learning the ins and outs of trading, such as how to enter, apply take-profit and stop-loss orders, and so on. We can also learn to apply strategies and conduct analysis because there are so many features available for analysis.

Trading on a demo account will be suitable for beginners who are completely unfamiliar with trading beforehand. The demo account is more about understanding the features and workings of the trading platform, although the trading methods learned can be applied. But for those who already understand trading, the sensation of trading on a demo account is certainly different. Even when trying out the trading strategies learned, traders might neglect the demo account to carry them out.

[pusaka]

I agree, the sensation of trading on a demo account and a live account is not the same. The emotions generated by real trading are very pronounced, whereas when trading on a demo account, we may not feel the same emotions because there's no real money involved.

However, a demo account is very helpful in learning the ins and outs of trading, such as how to enter, apply take-profit and stop-loss orders, and so on. We can also learn to apply strategies and conduct analysis because there are so many features available for analysis.

Trading on a demo account will be suitable for beginners who are completely unfamiliar with trading beforehand. The demo account is more about understanding the features and workings of the trading platform, although the trading methods learned can be applied. But for those who already understand trading, the sensation of trading on a demo account is certainly different. Even when trying out the trading strategies learned, traders might neglect the demo account to carry them out.

This is also very important, because it would be ridiculous if we started trading without understanding how to enter or anything else. I don't think anyone would do that, because in my opinion, only fools would do it without any knowledge.

Sometimes we can also learn on a demo account to try out new strategies. Although it will be very different, at least we have an idea of how our strategy will work. The point is, we should never be lazy about learning something, even learning on a deposit account, because it's very helpful.

[milewilda]

I agree, the sensation of trading on a demo account and a live account is not the same. The emotions generated by real trading are very pronounced, whereas when trading on a demo account, we may not feel the same emotions because there's no real money involved.

However, a demo account is very helpful in learning the ins and outs of trading, such as how to enter, apply take-profit and stop-loss orders, and so on. We can also learn to apply strategies and conduct analysis because there are so many features available for analysis.

Trading on a demo account will be suitable for beginners who are completely unfamiliar with trading beforehand. The demo account is more about understanding the features and workings of the trading platform, although the trading methods learned can be applied. But for those who already understand trading, the sensation of trading on a demo account is certainly different. Even when trying out the trading strategies learned, traders might neglect the demo account to carry them out.

This is also very important, because it would be ridiculous if we started trading without understanding how to enter or anything else. I don't think anyone would do that, because in my opinion, only fools would do it without any knowledge.

Sometimes we can also learn on a demo account to try out new strategies. Although it will be very different, at least we have an idea of how our strategy will work. The point is, we should never be lazy about learning something, even learning on a deposit account, because it's very helpful.

On the time or moment that you would be dealing up with something new then it would be just that important that you do need up to make up some research first on what it is all about. Act accordingly on which you would be needing up to consider out to study in all possible things that you can be able to studied upon on which it would be basing up in overall effort and time spend on how you would gonna do it as an individual. There are just that those times that you do become that impatient on which you would be testing out to trade or deal up with something even though you arent that totally being prepared. You are the ones will be having that kind of responsibility in regarding towards your actions. If you do find yourself having that no preparation then you are that prone into tons of mistakes and this could be that resulting into failure. People do usually made out those adjustments at the time that they will be facing up some issues but not on the time before they would be starting out to make some act. It will be that up to you on how you do adjust accordingly because as a newbie then we are that prone into those common mistakes on which it would be that normal but on the time that you've been that going further then you do eventually make up those learnings along the way on which that makes you as a better trader as you do go forward. It will be that just that up to you in regarding into this aspect.

[GIF-JOBS]

I agree, the sensation of trading on a demo account and a live account is not the same. The emotions generated by real trading are very pronounced, whereas when trading on a demo account, we may not feel the same emotions because there's no real money involved.

However, a demo account is very helpful in learning the ins and outs of trading, such as how to enter, apply take-profit and stop-loss orders, and so on. We can also learn to apply strategies and conduct analysis because there are so many features available for analysis.

Trading on a demo account will be suitable for beginners who are completely unfamiliar with trading beforehand. The demo account is more about understanding the features and workings of the trading platform, although the trading methods learned can be applied. But for those who already understand trading, the sensation of trading on a demo account is certainly different. Even when trying out the trading strategies learned, traders might neglect the demo account to carry them out.

For a beginner, learning to trade on a demo account is definitely effective, as it will give them a bit more knowledge, and they will be able to gain a little bit of real experience, but trading with real money is more experience than a demo account, because it gives them some depth of knowledge, because they understand that if they lose now, they will lose money, but in the case of a demo account, they do not have full attention because where they have no profit or loss, they do not have the fear or importance of losing money, so the demo account is only for gaining general knowledge, while when trading with real money, they will be able to gain real experience.

[I_Anime]

Starting with demo account is not bad though but it won’t help one when it comes to psychological Growth . Because in a demo account there are usually huge balance of money and same time you are not trading with your real money (not making use of live accounts ).

So most time if such person start live trading he or she may not be able to handle the emotional challenges in trading either they will endup being greedy and stuff , and develop the habit of chasing losses whenever they experience one .

[TheUltraElite]

I dont use any broker or any trading app. Just see the market charts, place orders accordingly buying low and selling high. A lot of patience is required to keep this going on.

If you want to trade with spot them this option is good. The rest of the trading methods are only gambling. Try them only at your own risk.

Forex is different from crypto basing on the type of asset but the methods to make money there are similar only.

[OcTradism]

I dont use any broker or any trading app. Just see the market charts, place orders accordingly buying low and selling high. A lot of patience is required to keep this going on.

If you want to trade with spot them this option is good. The rest of the trading methods are only gambling. Try them only at your own risk.

You can not find absolute entries and exits for your buying, selling orders as well as when do to it. Trading is easily to do but it is very difficult to trade and get profit in long term.

Buy low, sell high, everyone know it and want to do it with their tradings in the market but practically, they usually are FOMO with buying and panic with selling. Consequently, what they get usually is losses, not profit but it is not because of the market but by their lack of understanding about the market and their preparation from capital, risk management to psychological control.

In addition, trading even with Spot will require them to store their bitcoins on centralized exchanges and it's risky.
Reminder: do not keep your money in online accounts.
Events made you scare about custodial wallets, centralized exchanges.

[rachael9385]

I don’t suggest actually trading for beginners. The risk to lose gets higher when you trade without sufficient knowledge and experience, so if you plan to maximize trading and goes all out learning all those techniques and strategies, still I won’t advise to focus on trading just because other traders are creating successful stories from it.

Trade at your own risk, and with that, I mean to say just trade to earn a side income, not as a main source of income. It gets more risky to win from your trades especially if you do it as a means for survival, rather than as a side hustle.

All aspects of crypto involves having a good amount of knowledge bit as a beginner it would be more easier to focus more on hodling than trading. Crypto trading is very complex , I remember them i started trading Bitcoin in my begining phase, I had some losses because it was just too complicated for me at that time so I had to focus on hodling Bitcoin. After making this decision I didn't regret it because I became more profitable

[HistoLock]

Before you start trading you need to know the market well if you trade on impulse you will most likely end up losing money trading involves risk, so it is important to know how to minimize risk this is especially important for beginners. They should also test how different trading strategies work it is true that demo trading helps prepare you for the stress of real trading to some extent. Although the stress of real money trading is different it is essential to gain the right knowledge and practice without rushing to succeed in trading.

Yes you have made an important comment that before learning trading it is necessary to test it and understanding the market is very important. I think to do this you have to know about its risks, if the risks cannot be overcome then you will lose money. Yes it is true that for beginners it is necessary to know the trading strategy, I would say you have to know how to deal with the risks, then you will be able to profit. Doing this can put you under a lot of pressure if you do it correctly without rushing then you will be successful.