Things you might miss when starting to trade.

[MinMan]

If beginner traders are unable to manage their finances and risks, yet continue trading despite losses, what will happen is financial ruin. Anyone who wishes to trade must first be able to manage their finances. Similarly, for those who want to invest, managing finances will make it easier for us to know the amount we can use for trading and the amount we will use for living expenses.

Given that trading is inherently risky, if a beginner doesn't know how to manage their money but insists on trading, financial ruin could result. In this regard, we certainly need to be able to manage our finances well, and I believe this is a prerequisite for trading to minimize potential losses. In fact, I believe money management is crucial beyond trading or investing, as it can determine our lives.

You got points. I've seen a lot of beginners putting all of their money on few specific trades just to increase their chances of huge profits but this will make them end up in losses which they can't even bear. Trading is really tricky and makes us have huge dreams before we even start implying proper strategies. How much and where to spend the money has always been a huge challenge for beginners. They tend to invest almost anywhere they feel there's a chance of profit.

Managing finances and only investing the amount which we can afford to loose has been taught since ages but how many have followed this to be honest? Quite a few, and those few are not top traders amongst their circles.

[shield132]

I agree with you that we have to ensure that we have sufficient funds to cover our expenses for the next few months but now I look at your screens and why do you choose 20-25x leverage for your trades? You suggest 10x leverage to beginners but it's extremely risky. Everything above 2x and 3x leverage is extremely risky and ten times greater leverage is worse than gambling.
With 25x leverage, every moment prices increase or decrease by 4%, your capital increases either by 100% or you get liquidated. Cryptocurrencies are so volatile that we see 4% price increase/decrease almost every day.

[Lanatsa]

If beginner traders are unable to manage their finances and risks, yet continue trading despite losses, what will happen is financial ruin. Anyone who wishes to trade must first be able to manage their finances. Similarly, for those who want to invest, managing finances will make it easier for us to know the amount we can use for trading and the amount we will use for living expenses.

Given that trading is inherently risky, if a beginner doesn't know how to manage their money but insists on trading, financial ruin could result. In this regard, we certainly need to be able to manage our finances well, and I believe this is a prerequisite for trading to minimize potential losses. In fact, I believe money management is crucial beyond trading or investing, as it can determine our lives.

You got points. I've seen a lot of beginners putting all of their money on few specific trades just to increase their chances of huge profits but this will make them end up in losses which they can't even bear. Trading is really tricky and makes us have huge dreams before we even start implying proper strategies. How much and where to spend the money has always been a huge challenge for beginners. They tend to invest almost anywhere they feel there's a chance of profit.

Managing finances and only investing the amount which we can afford to loose has been taught since ages but how many have followed this to be honest? Quite a few, and those few are not top traders amongst their circles.

That’s the harsh reality of trading, most beginners ignore the basic rule of only risking what they can afford to lose and instead throw everything into a few trades hoping for that one big win. when it doesn’t work, the losses hit them harder than they can handle and that’s how people end up quitting completely or worse, going broke.

The truth is money management isn’t exciting so a lot of people skip it, they’d rather chase signals, dream about profits, and copy risky trades they see online. but without discipline around risk and proper allocation, even the best strategy will fail. trading will always tempt you to over-leverage and over-invest, but it’s the small, consistent risk takers who survive long enough to actually improve. So yeah, financial management is not just a requirement for trading, it’s what keeps you in the game. if someone can’t control how much they put in, the market will do it for them, and usually in a very painful way. beginners who treat trading like a lottery ticket rarely last, but those who approach it with patience and risk control are the ones that actually grow over time.

[Jaksonhard]

You got points. I've seen a lot of beginners putting all of their money on few specific trades just to increase their chances of huge profits but this will make them end up in losses which they can't even bear. Trading is really tricky and makes us have huge dreams before we even start implying proper strategies. How much and where to spend the money has always been a huge challenge for beginners. They tend to invest almost anywhere they feel there's a chance of profit.

It is very important for them to have maximum knowledge and care in trading in new conditions. In new conditions, they can see the possibility of profit through any investment, but it may take them a long time to master this profit. Because it will take them a long time to get the right idea about the right strategy and the right knowledge in trading. They may face various challenges in new conditions, but at this time they should not back down but should keep the thought of solving that problem alive in them. However, I would like to give them some advice that if they are thinking of trading in new conditions, they must need maximum knowledge. If they think about trading in new conditions, they may lose all their money or they will not be able to survive in the market for very long.

Managing finances and only investing the amount which we can afford to loose has been taught since ages but how many have followed this to be honest? Quite a few, and those few are not top traders amongst their circles.

Well, if they have a financial management deficit, they should take some more time, because trading is very risky, here they cannot guarantee profit in the new situation, but they need to have some financial support or they can trade with some money that they can lose or can afford to lose. Especially, they should not do anything extra, if he first loses money by trading some amount and if he tries to recover that money later, he risks losing more money there. So he should try to correct the mistake due to which he suffered losses in his trade and when he can correct that mistake, he can start trading there again.

[Localhostspeed]

Managing finances and only investing the amount which we can afford to loose has been taught since ages but how many have followed this to be honest? Quite a few, and those few are not top traders amongst their circles.

If only people know how easy and simple is to follow this rule in trading, it will save alot of people that loss money to trading. The market has been bullish this year, even though some alts are not making good moves but I can say that I have acquired some good profit. There are some days that I do make loss but overall, my trading strategy has been good too me, I don't over trade and I don't use more than I can afford with a tight stop loss.

[bettercrypto]

Well, in fairness, based on the image you shared, I can say I’m impressed. This is not an easy thing to do—especially with your 25x leverage, which is already quite high for the funds
you’re using in your futures trading activity. I also admire you for being able to manage all of them correctly at the same time, because that’s not easy to pull off.

I just don’t know if, before you took the screenshot, you had already taken profit on all of those trades, because for me, that already looks well-done at least from my perspective,
unless of course, you had set a TP (Take Profit) on them.

[irhact]

Managing finances and only investing the amount which we can afford to loose has been taught since ages but how many have followed this to be honest? Quite a few, and those few are not top traders amongst their circles.

Succeeding in trading should be measured by your own standards and not the standard of others because when you use their standards, you might think you aren't making progress but that's not the reality. Managing finances is necessary to become a profitable trader. It doesn't matter if you aren't among the top traders, what matters is how profitable you're so you don't have to be wasting money when you aren't getting anything in return. Taking profits, knowing when to option out of a trade are the things you need to learn as a trader to avoid being too greedy that you loss the small profits that you had because you failed to secure it when it was available.

[De Gramor]

Managing finances and only investing the amount which we can afford to loose has been taught since ages but how many have followed this to be honest? Quite a few, and those few are not top traders amongst their circles.

If only people know how easy and simple is to follow this rule in trading, it will save alot of people that loss money to trading. The market has been bullish this year, even though some alts are not making good moves but I can say that I have acquired some good profit. There are some days that I do make loss but overall, my trading strategy has been good too me, I don't over trade and I don't use more than I can afford with a tight stop loss.

Wow impressive seems you have made quite a satisfying profits, because the way you sound making this explanation is really interesting. Trading might be difficult and hard but same time many user are making money from it with the help of knowledge and reliable strategy.
The market might have been otherwise at times but still the knowledgeable ones always make profits from it despite volatility of the market.

[el kaka22]

Learning before you start is the most crucial part and yet most people still don't do it. The reality is simple if you really want to make a lot of money from trading and not have a terrible start then you are going to be forced to do something much more sensible by just making sure you end up with results that would not be good at all.

If you learn however, and do fine, then you are going to get a great result and you should be focusing on that instead and get a greater return when you first start. Obviously it is not easy, but it's also not impossible neither and can be done. Just do not trade, learn, focus on learning, and then you will end up with trading with knowledge even on your first days as a trader.

[Floxynice]

Managing finances and only investing the amount which we can afford to loose has been taught since ages but how many have followed this to be honest? Quite a few, and those few are not top traders amongst their circles.

Succeeding in trading should be measured by your own standards and not the standard of others because when you use their standards, you might think you aren't making progress but that's not the reality. Managing finances is necessary to become a profitable trader. It doesn't matter if you aren't among the top traders, what matters is how profitable you're so you don't have to be wasting money when you aren't getting anything in return. Taking profits, knowing when to option out of a trade are the things you need to learn as a trader to avoid being too greedy that you loss the small profits that you had because you failed to secure it when it was available.

Different traders should have their own trading goals. It is quite unfortunate that some traders are really clueless on this trading journey, setting standards that are way beyond their normal expectations. This is because some of these traders get trading role models and try to do everything like their role model, including adopting the trading style of the role model.

The trading rule always remains: learn adequately about trading before starting to trade. Don’t be deceived by the success of that mentor; they’ve gone through a lot to arrive at that level. They can ignore opportunities to take certain profits, but you might not need to ignore them too.

[Out of mind]

Managing finances and only investing the amount which we can afford to loose has been taught since ages but how many have followed this to be honest? Quite a few, and those few are not top traders amongst their circles.

If only people know how easy and simple is to follow this rule in trading, it will save alot of people that loss money to trading. The market has been bullish this year, even though some alts are not making good moves but I can say that I have acquired some good profit. There are some days that I do make loss but overall, my trading strategy has been good too me, I don't over trade and I don't use more than I can afford with a tight stop loss.

Yes, every trader should take a step that excess is not good but it is not right to expect more than your own ability. Since you profit according to your ability with experience and using stop loss, this is definitely a great process for you. The market was quite bullish this season but some altcoin markets were not very good due to which they went towards bad positions. However, if you can trade with good experience and skill then you will not lose but you will profit so you should always analyze the positive and negative aspects.

[mirakal]

Managing finances and only investing the amount which we can afford to loose has been taught since ages but how many have followed this to be honest? Quite a few, and those few are not top traders amongst their circles.

If only people know how easy and simple is to follow this rule in trading, it will save alot of people that loss money to trading. The market has been bullish this year, even though some alts are not making good moves but I can say that I have acquired some good profit. There are some days that I do make loss but overall, my trading strategy has been good too me, I don't over trade and I don't use more than I can afford with a tight stop loss.

There is no perfect trading strategy, nor can we say that those who follow our works will also end with the same (good) results. Nothing…If we have found a strategy that works for us, we should continue using it rather than sharing it with others, as it will likely fail. Why? This is because we all have differences when it comes to decision-making.

I would also like to say that trading is not for impatient or greedy people. That is why it is never fit for everyone. Perhaps this is a reminder for those who want to become a trader. Trading is not all about money and strategy but also about behavior and mindset.

[hafiztalha]

Managing finances and only investing the amount which we can afford to loose has been taught since ages but how many have followed this to be honest? Quite a few, and those few are not top traders amongst their circles.

If only people know how easy and simple is to follow this rule in trading, it will save alot of people that loss money to trading. The market has been bullish this year, even though some alts are not making good moves but I can say that I have acquired some good profit. There are some days that I do make loss but overall, my trading strategy has been good too me, I don't over trade and I don't use more than I can afford with a tight stop loss.

There is no perfect trading strategy, nor can we say that those who follow our works will also end with the same (good) results. Nothing…If we have found a strategy that works for us, we should continue using it rather than sharing it with others, as it will likely fail. Why? This is because we all have differences when it comes to decision-making.

I would also like to say that trading is not for impatient or greedy people. That is why it is never fit for everyone. Perhaps this is a reminder for those who want to become a trader. Trading is not all about money and strategy but also about behavior and mindset.

There are many courses of trading and people can trade the tokens by learning from these platforms . The fees of these courses is not too high because traders want to give benefit to poor people who want to be successful in the life and they have no money to invest. People are taking different steps but they are not spending money on learning and that is big reason they are not good investors . Many people are missing the learning of trading techniques and they don't know it is an art and it is not an easy for everyone to be best in the World of trading. Many people are giving hundreds of dollars fees to be expert in trading of Bitcoin but they are not good trader at a time but in the future, they will be best trader.