Start Trading for Beginners

[Mahanton]

You did not add the aspect of how to actually trade and everything you explained are basic things everyone will do to be able to trade. The most important thing being to choose a trading strategy which they must test in demo and confirm the performance before they can implement in a real account.  This is where most traders fail, they start trading without a strategy that have been tested and verified. If you try trading without a strategy, you will learn the hard way.

Yes you are right, what everyone needs to learn to trade is the rules of training, fundamental analysis and experience. Without these, trading is almost impossible. But if you are new, you can gain some skills and knowledge by using a demo account. The main reason why beginners fail is that they do not test their skills with a demo account and start trading in the real market. I would say that until you learn proper trading, you can test how much skill you have gained with a demo account. Yes, you will fail only when you trade without a strategy, so I would say that you should gain the skills of trading and profit by trading.

Trading using a demo account is highly recommended for beginners to understand the basics of trading or as a field of practice for implementing the theories and strategies you have created for your trading plan.

However, I myself did not use a demo account when I first started trading. To be honest, I experienced what you described and jumped right in without any specific training or testing, which meant it took me a long time to start making a profit from trading. I admit that was a mistake because I was careless, and it cost me a lot to pay for that carelessness.

However, what is certain is that everyone must go through their own phase to find their path. Sometimes other people's strategies do not suit our own trading strategies. I once tried using someone else's strategy, and it proved successful for them, but when I applied it, it did not suit me in terms of emotional management and trading targets.
In this case, it is better to use a small amount of money to test your trading strategy so that you do not incur significant losses if you do not want to use a demo account.

The key is to keep moving forward consistently in your learning journey. Never be arrogant in your learning process. Results will come to those who are consistent, even if it takes 5 to 10 years and requires many sacrifices to understand the right trading approach for yourself.

Still believe that effort must have results.

Trading on a demo account really gives beginners a safe space to learn the basics test strategies and understand how the market moves without risking money but many people including myself started without that step and the truth is it makes the learning curve much more painful jumping straight into real trades without testing first often means paying for mistakes with real losses and it takes longer to reach consistent profits.
Every trader eventually realizes that not every strategy works for everyone emotional management risk appetite and personal goals all shape whether a system will suit you i’ve seen strategies that worked perfectly for others fall apart when i tried them because they didn’t fit my mindset or my style of handling pressure that’s why adapting and testing for yourself is so important.

If someone doesn’t want to use a demo account the better option is to start with very small capital think of it as paying tuition for real market education that way the lessons don’t cost too much but you still feel the emotions of trading which a demo account can’t fully replicate.In the end progress comes from consistency patience and humility it’s not about rushing results or being arrogant thinking you’ve mastered everything too quickly trading can take years even a decade before real stability shows but steady effort always leaves results the important thing is to keep moving forward and not give up because every mistake and every sacrifice builds the understanding needed to finally find your own approach.

[cxtreenal]

DCA method does not work properly for any crypto other than Bitcoin. Most coins are volatile in terms of price, but they are much more bearish in terms of growth, so most coins are more suitable for short term trading. Accumulating Bitcoin for long term investment is the easiest and most suitable for an investor. The argument for this is that although the price of Bitcoin is always volatile, its upward trend encourages you to apply the DCA strategy more. If you really want to trading then first learn to gain experience yourself. Short term trading will put you at financial risk.

It seems that you are aware of the DCA strategy, so accumulation Bitcoin from discretionary income and build a stack as you gain experience so that it will be easier for you to trade short term in the future.

To be honest, when I talk about crypto, I'm only talking about Bitcoin. There are no truly mature and genuinely decentralized projects among altcoins, which is why they keep crashing.

When you're dealing with tokens, you need to use a hedging strategy—shorting ETH to offset your alpha buys. But that's a topic for a whole different post.

I am more comfortable viewing Bitcoin as a digital asset. You should keep accumulating Bitcoin on a regular basis and it will help you reach your destination. I disagree with you. Among altcoins, you will find some that are truly mature and decentralized projects There are some decentralized cryptocurrencies that can provide short-term returns to experienced investors despite constant crashes. There are very few of them in the market. However I do not really trust these altcoins. I trust Bitcoin for long term investment.

[bangjoe]

Trading using a demo account is highly recommended for beginners to understand the basics of trading or as a field of practice for implementing the theories and strategies you have created for your trading plan.

However, I myself did not use a demo account when I first started trading. To be honest, I experienced what you described and jumped right in without any specific training or testing, which meant it took me a long time to start making a profit from trading. I admit that was a mistake because I was careless, and it cost me a lot to pay for that carelessness.

However, what is certain is that everyone must go through their own phase to find their path. Sometimes other people's strategies do not suit our own trading strategies. I once tried using someone else's strategy, and it proved successful for them, but when I applied it, it did not suit me in terms of emotional management and trading targets.
In this case, it is better to use a small amount of money to test your trading strategy so that you do not incur significant losses if you do not want to use a demo account.

The key is to keep moving forward consistently in your learning journey. Never be arrogant in your learning process. Results will come to those who are consistent, even if it takes 5 to 10 years and requires many sacrifices to understand the right trading approach for yourself.

Still believe that effort must have results.

Trading on a demo account really gives beginners a safe space to learn the basics test strategies and understand how the market moves without risking money but many people including myself started without that step and the truth is it makes the learning curve much more painful jumping straight into real trades without testing first often means paying for mistakes with real losses and it takes longer to reach consistent profits.
Every trader eventually realizes that not every strategy works for everyone emotional management risk appetite and personal goals all shape whether a system will suit you i’ve seen strategies that worked perfectly for others fall apart when i tried them because they didn’t fit my mindset or my style of handling pressure that’s why adapting and testing for yourself is so important.

If someone doesn’t want to use a demo account the better option is to start with very small capital think of it as paying tuition for real market education that way the lessons don’t cost too much but you still feel the emotions of trading which a demo account can’t fully replicate.In the end progress comes from consistency patience and humility it’s not about rushing results or being arrogant thinking you’ve mastered everything too quickly trading can take years even a decade before real stability shows but steady effort always leaves results the important thing is to keep moving forward and not give up because every mistake and every sacrifice builds the understanding needed to finally find your own approach.

All beginners must follow this method to make their trading journey safer, and they need to pay attention to every small mistake for evaluation. Without correcting themselves, they will be like instilling a gambling spirit in themselves in trading. Always start with a strategy and knowledge of the market, not based on feelings or predictions without  data, as that would be very dangerous.

I once experienced this when I tried to guess a price increase and it actually happened. From that point on, I became overly confident and relied on that because I trusted my optimistic assumptions without data, which ultimately led to my losses.

Stay persistent in the long-term process in this industry.

[Alpen]

 Among altcoins, you will find some that are truly mature and decentralized projects There are some decentralized cryptocurrencies that can provide short-term returns to experienced investors despite constant crashes. There are very few of them in the market.

I'd argue there are no truly decentralized projects in the crypto market. Even Bitcoin's hashrate is distributed among just a few pools, and Ethereum's PoS nodes are accumulating in the hands of intermediaries like staking platforms and big exchanges. If we're talking about other cryptocurrencies, there's even less to say. So where exactly have you seen this "true" decentralization?

If a project with proven decentralization actually existed, it would attract all the investment in the world.

And what you're calling "short-term returns" is just speculation. Maybe 1% of speculators actually make money from it, because the huge profits they might get are eventually wiped out by a much larger number of losing trades.

[Oluwa-btc]

You did not add the aspect of how to actually trade and everything you explained are basic things everyone will do to be able to trade. The most important thing being to choose a trading strategy which they must test in demo and confirm the performance before they can implement in a real account.  This is where most traders fail, they start trading without a strategy that have been tested and verified. If you try trading without a strategy, you will learn the hard way.

Your last statement got me and it's not a joke.Without a strategy in trading, you're unsafe and unfit to exist as a trader.There's no benefits,a strategy helps you check and track what works and what doesn't.A strategy is your weapon.It doesn’t guarantee wins,but it protects and gives you a higher chance to success.

[harapan]

People lose constantly in trading alongside others win vigorously in trading and basically it's not because of lack of technical know how or being greedy or whatsoever, the fact is that trading is very risky and it's one thing to take note of cause the strategies you're hoping to use to be profitable would be the one to render your efforts worthless making you have a great loss. A beginner trying to enter the trading journey should take it gradually and learn from experts in trades.

[HistoLock]

People lose constantly in trading alongside others win vigorously in trading and basically it's not because of lack of technical know how or being greedy or whatsoever, the fact is that trading is very risky and it's one thing to take note of cause the strategies you're hoping to use to be profitable would be the one to render your efforts worthless making you have a great loss. A beginner trying to enter the trading journey should take it gradually and learn from experts in trades.

Yes, it is true that if you do not have experience and knowledge about trading, you will always lose. If you want to profit from trading, you must do technical analysis and apply strategies, I will not say that you will not lose because no one has ever made profit without losing, but if you can analyze slowly and patiently and learn it according to the opinions of experts, then it is good for you. But you will need patience and interest to learn it, if you have the effort, you will definitely be able to learn it.

[WatChe]

All beginners must follow this method to make their trading journey safer, and they need to pay attention to every small mistake for evaluation. Without correcting themselves, they will be like instilling a gambling spirit in themselves in trading. Always start with a strategy and knowledge of the market, not based on feelings or predictions without  data, as that would be very dangerous.

I once experienced this when I tried to guess a price increase and it actually happened. From that point on, I became overly confident and relied on that because I trusted my optimistic assumptions without data, which ultimately led to my losses.

Stay persistent in the long-term process in this industry.

Beginners need to fully understand that trading is not a way to become rich overnight. Trading is not an easy thing and you have to work hard to develop expertise in it before you start getting profit. It's correct that if you don't do prior homework then trading will just be like gambling and you will only bear loses. I have few friends that are doing trading and are in profit just because they acquire proper knowledge before starting that risky stuff. One key thing to learn is how to control your emotions and if you can't learn it then you will find yourself in trouble.

[tvplus006]

People lose constantly in trading alongside others win vigorously in trading and basically it's not because of lack of technical know how or being greedy or whatsoever, the fact is that trading is very risky and it's one thing to take note of cause the strategies you're hoping to use to be profitable would be the one to render your efforts worthless making you have a great loss. ..

Precisely because the cryptocurrency market has a high risk, it is necessary to reduce it using risk management. And those who took the trouble to set a stop loss today saved their deposit on the dump. While long positions worth more than a billion dollars were liquidated in BTC alone today.

[redsun114]

I am more comfortable viewing Bitcoin as a digital asset. You should keep accumulating Bitcoin on a regular basis and it will help you reach your destination. I disagree with you. Among altcoins, you will find some that are truly mature and decentralized projects There are some decentralized cryptocurrencies that can provide short-term returns to experienced investors despite constant crashes. There are very few of them in the market. However I do not really trust these altcoins. I trust Bitcoin for long term investment.

Even though none can replace Bitcoin when it comes to long-term investment safety, there are some altcoins that can at least be trusted to some extent, for example, ETH. I know some people might have a very negative perception about ETH and some other altcoins, but we shouldn't forget that these have been the first few cryptocurrencies after Bitcoin, and they have been around for quite some time, so I think they deserve at least some trust from traders and investors in this market.

Another thing is that it's not compulsory for someone to only have Bitcoin in their portfolio. They should always diversify their portfolio and add some more cryptocurrencies. Such cryptocurrencies are at the top after Bitcoin, and once the investments are done, the person should basically just wait.

Also, if possible, they should stay away from the market, maybe not forever but for at least enough time so that they don't panic and sell or sell immediately after their investment gets into profits because that is going to deprive them from better profits.

[Byebyebtc]

If you ever wonder how many people make profit when market is going down  or up
here are few tips on how to get started for Beginners
(this is based on my knowledge and how I do it )

1. You need to choose a Broker I do use IC market  as broker

2. You need MetaTrader 4 or 5 app 
Once you have done the KCY on Ic market it gives you the account info which u will use on Metatrader

3, Use Trading View to see the  Real time Charts if the coin you are trading

4. See what time do news Starts as most of them have high impact I do use https://www.forexfactory.com/calendar  and those that has red color have  a lot of impact
Never pay for telegram groups that sells Signals all of them are Scam, if he know how the market will go he would trade for himself and would not have time to manage the group or ask for payments !

Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose.
Before you start to put real money into trading

START with DEMO account and learn a lot before starting with real money
Learn how to use SL (stop loos) Important
Learn how to set TP (Take profit)  Important
Learn how to manage your balance
Learn how LOT works 

There are many people who made money from trading and there are a lot who lost money too by being greedy or lack of knowledge
Hope this thread helps someone
Cheers from MarangoZ

You are right you have covered the basic things that a new Trader is supposed to know about
Trading is a very difficult skill to learn before, you make a decision to move into trading you should be ready to sacrifice a lot, from your time to your emotions to your money the relationships the friends and a lot more you'll have to lock in several times to achieve one thing or the other.
But no matter what you face the boss of them all is discipline
You must be discipline to go far in Trading if you're not discipline you end up giving up and giving it a bad name as they all say "gambling" But nevertheless the end results are massive
you will have a lot of gains you can change your life throughtrading even extending to your families life just because you choose to be a trader and not just a trader but a profitable Trader one

[wozzek23]

Here we mostly talk about crypto trading but it is good to see you sharing this useful insight for forex trading. Few people might be interested and also newbies would mostly find this guide useful and might start making profits in forex markets if they try to follow.

I think forex and crypto trading does not have much difference. It's just about the trading platforms. With forex, you do need a broker who can provide you with trading accounts but with cryptos, you are your own boss and can easily create a trading account without any need of intervention.

I would personally like to stick with cryptos but still appreciate this guide and hope this will help a lot of newbies when they start their first trading journey. Although there already are a lot of similar guides here in this board but yet this one might help newbies being on the first page.

[Mame89]

People lose constantly in trading alongside others win vigorously in trading and basically it's not because of lack of technical know how or being greedy or whatsoever, the fact is that trading is very risky and it's one thing to take note of cause the strategies you're hoping to use to be profitable would be the one to render your efforts worthless making you have a great loss. A beginner trying to enter the trading journey should take it gradually and learn from experts in trades.

Before diving into the world of trading beginners must first thoroughly study trading and be able to research and study the coins they wish to trade. As you said trading is a complex and risky activity. It's not just about capital knowledge and psychological learning it's also about mindset.

Every trader should understand that successful traders don't achieve success overnight. They've experienced many ups and downs in trading but they persevere by continually learning from their mistakes turning them into valuable experience and successfully navigating the process. Beginners should cultivate this mindset before entering the world of trading it's a process that requires effort to achieve success, and nothing comes instantly.

[Floxynice]

People lose constantly in trading alongside others win vigorously in trading and basically it's not because of lack of technical know how or being greedy or whatsoever, the fact is that trading is very risky and it's one thing to take note of cause the strategies you're hoping to use to be profitable would be the one to render your efforts worthless making you have a great loss. A beginner trying to enter the trading journey should take it gradually and learn from experts in trades.

Before diving into the world of trading beginners must first thoroughly study trading and be able to research and study the coins they wish to trade. As you said trading is a complex and risky activity. It's not just about capital knowledge and psychological learning it's also about mindset.

Every trader should understand that successful traders don't achieve success overnight. They've experienced many ups and downs in trading but they persevere by continually learning from their mistakes turning them into valuable experience and successfully navigating the process. Beginners should cultivate this mindset before entering the world of trading it's a process that requires effort to achieve success, and nothing comes instantly.

Becoming a trader goes beyond just having the capital to trade with. If things are not done properly, the trader will lose everything within a twinkle of an eye.

While newbies are eager to trade, they should take out time to  research and study the coins they want to trade so they will understand better the risks involved in trading that coin and how to go about it better.

Being profitable from trading doesn't come easily, traders usually go through ups and downs. They make mistakes and learn from them. It is all of these that forms their experiences which puts them above others if they remain patient and focused. Trading is not for the weak.

[fullhdpixel]

Even though none can replace Bitcoin when it comes to long-term investment safety, there are some altcoins that can at least be trusted to some extent, for example, ETH. I know some people might have a very negative perception about ETH and some other altcoins, but we shouldn't forget that these have been the first few cryptocurrencies after Bitcoin, and they have been around for quite some time, so I think they deserve at least some trust from traders and investors in this market.

Another thing is that it's not compulsory for someone to only have Bitcoin in their portfolio. They should always diversify their portfolio and add some more cryptocurrencies. Such cryptocurrencies are at the top after Bitcoin, and once the investments are done, the person should basically just wait.

Also, if possible, they should stay away from the market, maybe not forever but for at least enough time so that they don't panic and sell or sell immediately after their investment gets into profits because that is going to deprive them from better profits.

Diversification is the key to extensive profits. We should never put all our eggs in one single basket. By diversification here I don't just mean buying other altcoins but also trying to diversify our investments in other assets like stocks or forex. We can always keep a part of our total capital in these other assets. Yes, in cryptos we already have a lot of options and I would definitely love to by not only with BTC but also with ETH and a few other promising coins.

I believe in their future and am sure once bitcoin starts rallying, these major altcoins will follow as well and maybe few of these alts will show bigger profits as compared to bitcoins. But I would also suggest to keep a part of our investment in other assets. OP was trying to guide us on forex trading which also is good to earn decent profits. Maybe we can keep around 5% of our total investment there just to make sure we don't miss out on profits.

[bubilas]

Take Profit is a very practical tool, but it's not essential for every trader, even beginners. Everyone trades using different strategies, and if a trader prefers to average out their trade's price position, they may not set a Take Profit limit. For example, I had a negative experience with this option: I identified a support level and then set a Take Profit, and then the price touched that level, killing my position. Afterward, the price shot up like a rocket.

[MarangoZ]

Take Profit is a very practical tool, but it's not essential for every trader, even beginners. Everyone trades using different strategies, and if a trader prefers to average out their trade's price position, they may not set a Take Profit limit. For example, I had a negative experience with this option: I identified a support level and then set a Take Profit, and then the price touched that level, killing my position. Afterward, the price shot up like a rocket.

That can happen rare like when there are news but not every time so its better to have a Take Profit and to follow the dicipline so you can master it  otherwise if there is not TP the price can go back and touch the SP

[Kennedy2631]

My strategy is 1/3  so I risk 1% of my balance to profit 3%
If i lose twice that means im only 2 % down
i dont do more than 2 trades per day  as overtrading leads on lost

my 1st live trading was a profit as I try to maintain  the discipline and risk menagment

In trading, risk management is very important.  The amount used to risk for your profit should be lesser to what you are aiming for so that even if you lose that trade, it won't affect your account size and discourage you to go for a potential winning trade. Just as you said 1/3 ratio is cool.

However, emotion is important to be put under check. Trading demo is not same with real trading because of the real money involved.

We also have to know it is very risky trading forex or CFDS. They are highly volatile and you can lose your capital at a go if you don't protect your account by using SL.

[Gaza13]

People lose constantly in trading alongside others win vigorously in trading and basically it's not because of lack of technical know how or being greedy or whatsoever, the fact is that trading is very risky and it's one thing to take note of cause the strategies you're hoping to use to be profitable would be the one to render your efforts worthless making you have a great loss. A beginner trying to enter the trading journey should take it gradually and learn from experts in trades.

Yes, beginners should know that trading is very risky. If they want to try it, there is nothing wrong as long as they know the risks they will experience. In addition, they must have the knowledge and insight to analyze. Trading can be an opportunity, but most beginners lose money due to a lack of knowledge and discipline. For every indicator you learn until you succeed, it requires a significant sacrifice. In this case, we must record every failure when we trade, and through these failures, we can learn where our mistakes lie.

[Big Dirams]

People lose constantly in trading alongside others win vigorously in trading and basically it's not because of lack of technical know how or being greedy or whatsoever, the fact is that trading is very risky and it's one thing to take note of cause the strategies you're hoping to use to be profitable would be the one to render your efforts worthless making you have a great loss. A beginner trying to enter the trading journey should take it gradually and learn from experts in trades.

Yes, beginners should know that trading is very risky. If they want to try it, there is nothing wrong as long as they know the risks they will experience. In addition, they must have the knowledge and insight to analyze. Trading can be an opportunity, but most beginners lose money due to a lack of knowledge and discipline. For every indicator you learn until you succeed, it requires a significant sacrifice. In this case, we must record every failure when we trade, and through these failures, we can learn where our mistakes lie.

As a beginner in trading one should always understand that trading is quite different from what we normally see on the internet, we should not get deceived by online fake individuals that say trading is quite simple. Trading is very risky and it can destroy our emotions but when we learn to stay discipline and keep learning with the consistency going then we might see better results but we should not take trading as a fast money thing, it way more than that.