Start Trading for Beginners

[Fara Chan]

Trading without knowledge is like gambling. It's best to learn as much as possible about Bitcoin before deciding to trade. First, make sure you fully understand and appreciate what Bitcoin is. This will protect your finances in the future. Unexpected market price movements can also cause extreme panic if we don't understand them. Beginners should set aside a portion of their income to cover basic needs for at least the next three months. If the Bitcoin price drops, we won't panic. Avoid investing all your money in Bitcoin without any other savings. This strategy is important to avoid panic selling. Conversely, if you invest all your savings in Bitcoin and the price skyrockets, you could become rich overnight. However, I don't recommend such a strategy because it's uncertain.

It's very rare for someone to become rich overnight, even if they bought Bitcoin with all their savings, unless they bought it in large quantities and experienced a more significant price increase more quickly within a matter of days. Because that kind of thing is something that is really liked by all traders in the market, but for investors it must be differentiated because most investors prefer to buy regularly and collect to become a lot before selling it back into the market after holding it for one or two cycles.

[ASloveapg]

In fact, you have to survive here, you can't give up patience, if you show too much interest in the first situation and give up later, it is just a waste of time. I have a friend who was like that, at first he was very interested in trading but now he has completely given up on it, he used to face losses so he gave up. When a new trader can learn from the losses in the first situation and be more careful, then he will definitely gain skill at some point, but if someone does not try to gain knowledge with all his might, he will never be able to succeed here.

Not everyone is destined to become a good trader. According to statistics, only about 1–3% of traders are successful, and if someone decides to stop at the early stages, it might not be the worst decision. For those who are ready to dedicate a lot of time to trading, they might achieve something, but success in trading is not guaranteed to anyone. Beginners should be careful and trade with small amounts of money while they are still learning and developing their own working strategy.

There are many who think that trading is the best way to get success quickly, they think that it is very easy and in the first case they can earn a lot of profit, but they should understand that the reality is different. You should not jump here with excessive optimism in the beginning, because you have to learn it slowly through real experience, to gain skill here it takes time, you have to spend time and become skilled in this way. In any case, it is not possible to achieve success quickly, in the first case you have to accept losses, learn from losses and then it is possible to succeed.

[Futurexxx]

It's very rare for someone to become rich overnight,

You are right about this statement here, True wealth comes overtime not overnight, because even though you stumbled upon a huge amount of money, due to the fact that you don't know how to grow it and make it work for you, with time you are going to waste it all on fail investment or on lavish lifestyle if the said person is a waster.

even if they bought Bitcoin with all their savings, unless they bought it in large quantities and experienced a more significant price increase more quickly within a matter of days.

This happens in rare occasions and it's mostly by luck, not by knowing how, so in essence of what an trying to say is that quick wealth hardly comes by if you are not  lucky, because true wealth comes overtime due to dedication and years of hard work.

[Peanutswar]

Trading without knowledge is like gambling. It's best to learn as much as possible about Bitcoin before deciding to trade. First, make sure you fully understand and appreciate what Bitcoin is. This will protect your finances in the future. Unexpected market price movements can also cause extreme panic if we don't understand them. Beginners should set aside a portion of their income to cover basic needs for at least the next three months. If the Bitcoin price drops, we won't panic. Avoid investing all your money in Bitcoin without any other savings. This strategy is important to avoid panic selling. Conversely, if you invest all your savings in Bitcoin and the price skyrockets, you could become rich overnight. However, I don't recommend such a strategy because it's uncertain.

It's very rare for someone to become rich overnight, even if they bought Bitcoin with all their savings, unless they bought it in large quantities and experienced a more significant price increase more quickly within a matter of days. Because that kind of thing is something that is really liked by all traders in the market, but for investors it must be differentiated because most investors prefer to buy regularly and collect to become a lot before selling it back into the market after holding it for one or two cycles.

There is no one becomes a millionare in trading with just overnight or unless this requires a huge capital amount for your risk management additional with this is the potential of the coin you want to trade in such as in futures or lets say you are a risk taker with the memecoins but of course only few of the percentage of the people who are into it becomes more successful. In every trades there's a plan, and in every trades there's an execution if you think there's a confirmation with your set up go for it but if you aren't confident enough go test it out first. Also tons of people now engage with the bitcoin people now see the potential of it to rise up but again not all pump is good because sometimes its just a correction, ive been into crypto since how many years still have losses because of greediness so charge to experiene here is to ended up lossing your money.

[GiftedMAN]

There are many who think that trading is the best way to get success quickly, they think that it is very easy and in the first case they can earn a lot of profit, but they should understand that the reality is different. You should not jump here with excessive optimism in the beginning, because you have to learn it slowly through real experience, to gain skill here it takes time, you have to spend time and become skilled in this way. In any case, it is not possible to achieve success quickly, in the first case you have to accept losses, learn from losses and then it is possible to succeed.

The truth is that there are actually people who are actually making it big and are successful through trading, but it’ll be a mistake and a terrible one to think that you’ll just start today and tomorrow you’re already in a position where you can start earning or become successful through trading. Trading is a journey and it is the experience you gather along that journey as well as the decisions you make along the way that helps to shape you and to determine whether you’ll become successful or not.

[Dickiy]

It's very rare for someone to become rich overnight,

You are right about this statement here, True wealth comes overtime not overnight, because even though you stumbled upon a huge amount of money, due to the fact that you don't know how to grow it and make it work for you, with time you are going to waste it all on fail investment or on lavish lifestyle if the said person is a waster.

As the saying goes, "maintaining is much harder than earning." I've often heard of children who inherit from successful parents but spend it all quickly without any growth. They don't know how to manage their money because they acquired it without a process.
Overnight wealth is just a dream.

even if they bought Bitcoin with all their savings, unless they bought it in large quantities and experienced a more significant price increase more quickly within a matter of days.

This happens in rare occasions and it's mostly by luck, not by knowing how, so in essence of what an trying to say is that quick wealth hardly comes by if you are not  lucky, because true wealth comes overtime due to dedication and years of hard work.

You're right, quick wealth only happens when someone is lucky or by chance. Ultimately, everything still requires a process. If wealth can come that quickly, then why do wealthy individuals like Jack Ma or Elon Musk take decades to achieve their wealth?
Becoming wealthy through investing is indeed possible, and it's been proven that many investors have extraordinary portfolios. But achieving it still takes a long time, especially with Bitcoin.

[Godday]

There are many who think that trading is the best way to get success quickly, they think that it is very easy and in the first case they can earn a lot of profit, but they should understand that the reality is different. You should not jump here with excessive optimism in the beginning, because you have to learn it slowly through real experience, to gain skill here it takes time, you have to spend time and become skilled in this way. In any case, it is not possible to achieve success quickly, in the first case you have to accept losses, learn from losses and then it is possible to succeed.

The truth is that there are actually people who are actually making it big and are successful through trading, but it’ll be a mistake and a terrible one to think that you’ll just start today and tomorrow you’re already in a position where you can start earning or become successful through trading. Trading is a journey and it is the experience you gather along that journey as well as the decisions you make along the way that helps to shape you and to determine whether you’ll become successful or not.

Experience and enjoying the process is what makes a person successful. The wrong idea is that investing in coins will get rich quickly while there is no knowledge yet. No one has succeeded without being based on knowledge and has to waste time to achieve success. What determines success and wealth is not just investment but determines whether someone will be successful or not in trading when they have succeeded in refraining from greed but trading based on knowledge remains one's own stance.

[bettercrypto]

I don't have any negative reactions toward the points mentioned by OP; in fact, some of them are correct. And if he feels that he's becoming more profitable in Forex trading, then he should just continue with what he's already started something he may have been doing for a long time already.

Now, while Forex and crypto trading belong to different categories, they use the same kinds of tools and indicators. The only difference is that, based on my experience in these situations, cryptocurrency tends to have much higher volatility compared to Forex.

[Polkeins]

There are many who think that trading is the best way to get success quickly, they think that it is very easy and in the first case they can earn a lot of profit, but they should understand that the reality is different. You should not jump here with excessive optimism in the beginning, because you have to learn it slowly through real experience, to gain skill here it takes time, you have to spend time and become skilled in this way. In any case, it is not possible to achieve success quickly, in the first case you have to accept losses, learn from losses and then it is possible to succeed.

The truth is that there are actually people who are actually making it big and are successful through trading, but it’ll be a mistake and a terrible one to think that you’ll just start today and tomorrow you’re already in a position where you can start earning or become successful through trading. Trading is a journey and it is the experience you gather along that journey as well as the decisions you make along the way that helps to shape you and to determine whether you’ll become successful or not.

Time does not help if a person does not calculate the risks before starting to trade. In essence, trading is about correctly calculating risks and accepting them. There is not always enough money for a second chance, because you have to pay for wrong moves, literally, and by the time a beginner gains experience, they may no longer have any money left.
I think that before starting to trade, a beginner should set aside an amount of money that they are not afraid to lose and, after calculating the risks for each position, start trading. At the initial stage, you should only trade spot, and no futures or leverage.

[AGogi2003]

There are many who think that trading is the best way to get success quickly, they think that it is very easy and in the first case they can earn a lot of profit, but they should understand that the reality is different. You should not jump here with excessive optimism in the beginning, because you have to learn it slowly through real experience, to gain skill here it takes time, you have to spend time and become skilled in this way. In any case, it is not possible to achieve success quickly, in the first case you have to accept losses, learn from losses and then it is possible to succeed.

People that don't have knowledge of trading will always think is easy to achieve your goal, because many people always explain there wining they don't know which time of challenges they face first before getting what they need, and newbies will always think that is the way. if you have gain knowledge and experience in trading you will always know that trading is not a easy task and that is a big risk in crypto, because is not like other investments that you will invest for long term and get profit when the price increases.

Trading can make you rich in just some minuets and you can lose everything you stake in trading is some seconds too, and that is the risk so if you are not capable of trading you shouldn't put your self into it because not everyone can take high risk. When starting trading the best thing to do is to get the enough knowledge before you start risking your money into it because without risk they won't be any reward so trading is good for who have the experience and get profit to it.

[Muba20]

There are many who think that trading is the best way to get success quickly, they think that it is very easy and in the first case they can earn a lot of profit, but they should understand that the reality is different. You should not jump here with excessive optimism in the beginning, because you have to learn it slowly through real experience, to gain skill here it takes time, you have to spend time and become skilled in this way. In any case, it is not possible to achieve success quickly, in the first case you have to accept losses, learn from losses and then it is possible to succeed.

The truth is that there are actually people who are actually making it big and are successful through trading, but it’ll be a mistake and a terrible one to think that you’ll just start today and tomorrow you’re already in a position where you can start earning or become successful through trading. Trading is a journey and it is the experience you gather along that journey as well as the decisions you make along the way that helps to shape you and to determine whether you’ll become successful or not.

Experience and enjoying the process is what makes a person successful. The wrong idea is that investing in coins will get rich quickly while there is no knowledge yet. No one has succeeded without being based on knowledge and has to waste time to achieve success. What determines success and wealth is not just investment but determines whether someone will be successful or not in trading when they have succeeded in refraining from greed but trading based on knowledge remains one's own stance.

There is definitely no way to call crypto trading easy. A trader will be successful here only when he is able to acquire proper skills and experience. If it is assumed that one can become rich only after buying coins, then it is never possible. Without proper skills, it will be difficult to know which coin one should buy. Everyone who has succeeded can be successful by acquiring proper knowledge and being patient accordingly. Moreover, those who can acquire knowledge will also know how to control their greed in any situation.

[RockBell]

Trading without knowledge is like gambling. It's best to learn as much as possible about Bitcoin before deciding to trade. First, make sure you fully understand and appreciate what Bitcoin is. This will protect your finances in the future. Unexpected market price movements can also cause extreme panic if we don't understand them. Beginners should set aside a portion of their income to cover basic needs for at least the next three months. If the Bitcoin price drops, we won't panic. Avoid investing all your money in Bitcoin without any other savings. This strategy is important to avoid panic selling. Conversely, if you invest all your savings in Bitcoin and the price skyrockets, you could become rich overnight. However, I don't recommend such a strategy because it's uncertain.

It's very rare for someone to become rich overnight, even if they bought Bitcoin with all their savings, unless they bought it in large quantities and experienced a more significant price increase more quickly within a matter of days. Because that kind of thing is something that is really liked by all traders in the market, but for investors it must be differentiated because most investors prefer to buy regularly and collect to become a lot before selling it back into the market after holding it for one or two cycles.

It is very rare that out of hundre percent maybe like 5% are the once making instant money or the numbers might be small than, and one good thing is that the price of bitcoin is not stable so there different ways, that you can use in your favor as a beginner, you can even start with holding then when you have understood the process then you can start with spot trading then gradually graduate to futures because that is like the most complicated one but with more experience comes better knowledge. Everyone have there own way of dealing with either trading or holding.  And you can either do the two, hold and then trade.

[GiftedMAN]

There is definitely no way to call crypto trading easy. A trader will be successful here only when he is able to acquire proper skills and experience. If it is assumed that one can become rich only after buying coins, then it is never possible. Without proper skills, it will be difficult to know which coin one should buy. Everyone who has succeeded can be successful by acquiring proper knowledge and being patient accordingly. Moreover, those who can acquire knowledge will also know how to control their greed in any situation.

Experience is the best teacher in all aspect of life but in trading having the knowledge gives you the first advantage to know the right strategies to apply to make profit in your trade. Experience helps you to know when you shouldn't enter the market and when you should enter and a combination of your knowledge and skills will give you the the right mindset to know the right market to trade on. Most traders are usually greedy which is the reason why majority of them lose it all after making profit an experienced trader will always take profits no matter how little instead of losing it all in trading when the market isn't favourable.

[Judith87403]

There are many who think that trading is the best way to get success quickly, they think that it is very easy and in the first case they can earn a lot of profit, but they should understand that the reality is different. You should not jump here with excessive optimism in the beginning, because you have to learn it slowly through real experience, to gain skill here it takes time, you have to spend time and become skilled in this way. In any case, it is not possible to achieve success quickly, in the first case you have to accept losses, learn from losses and then it is possible to succeed.

The truth is that there are actually people who are actually making it big and are successful through trading, but it’ll be a mistake and a terrible one to think that you’ll just start today and tomorrow you’re already in a position where you can start earning or become successful through trading. Trading is a journey and it is the experience you gather along that journey as well as the decisions you make along the way that helps to shape you and to determine whether you’ll become successful or not.

That’s right. Some people often make the mistake of thinking or believing that trading is just another get rich quick scheme. I remember when copy trading was newly introduced to the market, they made it sound and look so easy, like all you need to do is just get your broker funded and copy a pro trader’s trades and you can equally make as much profit as the trader. And this made a lot of newbies who knew absolutely nothing about trading to see it as an opportunity to make some quick bucks and when they entered, it landed in bug disappointment because it wasn’t really as easy as they expected it.

[Out of mind]

In fact, you have to survive here, you can't give up patience, if you show too much interest in the first situation and give up later, it is just a waste of time. I have a friend who was like that, at first he was very interested in trading but now he has completely given up on it, he used to face losses so he gave up. When a new trader can learn from the losses in the first situation and be more careful, then he will definitely gain skill at some point, but if someone does not try to gain knowledge with all his might, he will never be able to succeed here.

Not everyone is destined to become a good trader. According to statistics, only about 1–3% of traders are successful, and if someone decides to stop at the early stages, it might not be the worst decision. For those who are ready to dedicate a lot of time to trading, they might achieve something, but success in trading is not guaranteed to anyone. Beginners should be careful and trade with small amounts of money while they are still learning and developing their own working strategy.

There are many who think that trading is the best way to get success quickly, they think that it is very easy and in the first case they can earn a lot of profit, but they should understand that the reality is different. You should not jump here with excessive optimism in the beginning, because you have to learn it slowly through real experience, to gain skill here it takes time, you have to spend time and become skilled in this way. In any case, it is not possible to achieve success quickly, in the first case you have to accept losses, learn from losses and then it is possible to succeed.

Those who enter trading with the aim of achieving quick success will face losses, that is why patience is the way everywhere. You are right because success does not come quickly, rather it comes late, moreover, without experience and skill, no one can ever reach success. One should never be greedy at the beginning of trading, it will be a risk, one should not trade with sufficient amount of money. Rather, to start trading, one must learn slowly with a small amount of money, spend time. In the beginning of trading, there will be losses and profits, but even if there are more losses here, it is still necessary to continue it, it will be possible to become a good trader gradually, but a small amount of money is not too much and one must gain education.

[liasbaa]

In fact, you have to survive here, you can't give up patience, if you show too much interest in the first situation and give up later, it is just a waste of time. I have a friend who was like that, at first he was very interested in trading but now he has completely given up on it, he used to face losses so he gave up. When a new trader can learn from the losses in the first situation and be more careful, then he will definitely gain skill at some point, but if someone does not try to gain knowledge with all his might, he will never be able to succeed here.

Not everyone is destined to become a good trader. According to statistics, only about 1–3% of traders are successful, and if someone decides to stop at the early stages, it might not be the worst decision. For those who are ready to dedicate a lot of time to trading, they might achieve something, but success in trading is not guaranteed to anyone. Beginners should be careful and trade with small amounts of money while they are still learning and developing their own working strategy.

There are many who think that trading is the best way to get success quickly, they think that it is very easy and in the first case they can earn a lot of profit, but they should understand that the reality is different. You should not jump here with excessive optimism in the beginning, because you have to learn it slowly through real experience, to gain skill here it takes time, you have to spend time and become skilled in this way. In any case, it is not possible to achieve success quickly, in the first case you have to accept losses, learn from losses and then it is possible to succeed.

Those who enter trading with the aim of achieving quick success will face losses, that is why patience is the way everywhere. You are right because success does not come quickly, rather it comes late, moreover, without experience and skill, no one can ever reach success. One should never be greedy at the beginning of trading, it will be a risk, one should not trade with sufficient amount of money. Rather, to start trading, one must learn slowly with a small amount of money, spend time. In the beginning of trading, there will be losses and profits, but even if there are more losses here, it is still necessary to continue it, it will be possible to become a good trader gradually, but a small amount of money is not too much and one must gain education.

I agree with you. Being greedy in the hope of quick profits is equivalent to wasting more wealth. You will be able to own wealth when you are patient and gain experience. Especially when you focus on making money through trading, you should not allocate the entire amount of money. You should allocate such an amount that even if you lose, it will not negatively affect your financial life. It is wise to allocate that fund to gain trading experience. To become a good and experienced trader, you need to explore the market and trade to gain trading knowledge because you have to enter the field and learn to play, only then will you realize how easy or difficult it is.

[bettercrypto]

I am also using that Forex Factory for checking upcoming events. CPI sometimes affects the BTC price a bit based on what I noticed, and also FOMC sometimes does affect BTC, only those with high impact.

I am using the MetaTrader 5 app on my phone, but all of my analysis is on TradingView because MetaTrader has limited tools.
I trade with a microaccount, and my broker is XM. I do trade some currency pairs, but mostly Bitcoin and ETH using MetaTrader, and I do also trade on crypto exchanges, for now on OKX, with multiple sub-accounts for different strategies or setups.

There's no group that actually will give you a good analysis or signal if you are looking for signals for free. The minds and ideas on TradingView would give you some insight into possible price action shared by individual traders. But I don't rely much on them because I am using BTC Bookmap for live price action and order flow.

Your guide should be a beginner's start. They should start with demo or paper money available on TradingView for free. They also need to learn risk management. If he manages to be profitable in demo or paper money, that would be a good start to trading with real money, but keep it low at the start because emotion can change your perspective.

There’s nothing wrong with doing trading activity in Forex as long as you’re profitable. Aside from that, if you’re able to manage it in the right way, then just continue what you know is truly benefiting you. It’s that simple: when it’s no longer profitable, let it go and look for something else.

Wherever we learned how to make a profit, that’s what we should focus on first. If we learned it here in the crypto space, then we should just keep improving and maintaining it.
And most important of all, we need to properly learn Risk Management so we can control the losses we might experience.

[nara1892]

Those who enter trading with the aim of achieving quick success will face losses, that is why patience is the way everywhere. You are right because success does not come quickly, rather it comes late, moreover, without experience and skill, no one can ever reach success. One should never be greedy at the beginning of trading, it will be a risk, one should not trade with sufficient amount of money. Rather, to start trading, one must learn slowly with a small amount of money, spend time. In the beginning of trading, there will be losses and profits, but even if there are more losses here, it is still necessary to continue it, it will be possible to become a good trader gradually, but a small amount of money is not too much and one must gain education.

I agree with you. Being greedy in the hope of quick profits is equivalent to wasting more wealth. You will be able to own wealth when you are patient and gain experience. Especially when you focus on making money through trading, you should not allocate the entire amount of money. You should allocate such an amount that even if you lose, it will not negatively affect your financial life. It is wise to allocate that fund to gain trading experience. To become a good and experienced trader, you need to explore the market and trade to gain trading knowledge because you have to enter the field and learn to play, only then will you realize how easy or difficult it is.

Everything we do requires a process, especially becoming rich. Nothing is instant. Everyone who has achieved wealth in their life has spent a lot of time on the journey. Patience is certainly important, but there's another aspect that can't be ignored: a strong desire to learn continuously.

I also quite agree with your opinion about fund allocation, but applying limits to fund allocation isn't just for beginners; experienced traders also do this because it's part of risk management, considering that emotions can wreak havoc at any time.

[ChocolateBitcoinK]

There are many who think that trading is the best way to get success quickly, they think that it is very easy and in the first case they can earn a lot of profit, but they should understand that the reality is different. You should not jump here with excessive optimism in the beginning, because you have to learn it slowly through real experience, to gain skill here it takes time, you have to spend time and become skilled in this way. In any case, it is not possible to achieve success quickly, in the first case you have to accept losses, learn from losses and then it is possible to succeed.

The truth is that there are actually people who are actually making it big and are successful through trading, but it’ll be a mistake and a terrible one to think that you’ll just start today and tomorrow you’re already in a position where you can start earning or become successful through trading. Trading is a journey and it is the experience you gather along that journey as well as the decisions you make along the way that helps to shape you and to determine whether you’ll become successful or not.

That’s right. Some people often make the mistake of thinking or believing that trading is just another get rich quick scheme. I remember when copy trading was newly introduced to the market, they made it sound and look so easy, like all you need to do is just get your broker funded and copy a pro trader’s trades and you can equally make as much profit as the trader. And this made a lot of newbies who knew absolutely nothing about trading to see it as an opportunity to make some quick bucks and when they entered, it landed in bug disappointment because it wasn’t really as easy as they expected it.

The biggest mistake for beginners is that they see trading as a way to make quick money, in fact, trading is presented everywhere in such a way that it seems that trading can actually be very easy to earn a lot of money and it does not require much knowledge. Everyone thinks that trading is very easy, but the reality is that this exaggerated image of ease forces many inexperienced people to make wrong decisions that ultimately lead them to huge losses. So when you can abandon the decision to make quick profits from it, and believe that there is no shortcut to ensuring regular profits and that blindly following a trader's strategy has a high probability of losses, then you understand and you can truly learn trading.

[osasshem]

There are many who think that trading is the best way to get success quickly, they think that it is very easy and in the first case they can earn a lot of profit, but they should understand that the reality is different. You should not jump here with excessive optimism in the beginning, because you have to learn it slowly through real experience, to gain skill here it takes time, you have to spend time and become skilled in this way. In any case, it is not possible to achieve success quickly, in the first case you have to accept losses, learn from losses and then it is possible to succeed.

The truth is that there are actually people who are actually making it big and are successful through trading, but it’ll be a mistake and a terrible one to think that you’ll just start today and tomorrow you’re already in a position where you can start earning or become successful through trading. Trading is a journey and it is the experience you gather along that journey as well as the decisions you make along the way that helps to shape you and to determine whether you’ll become successful or not.

True success doesn't come out of a hiding place without proper preparation, dedication and determination. It is true that the crypto market has made people successful, but it took them time before the results of success started showing, and because of this, I do prefer to know the story behind the scenes, the struggle and hustle, before the success, as this gives a clearer view of what I'm to venture into. Trading is like building a structure, from the foundation is where the strength of the building rely on, because that is what will carry the building to the very end.