Things you might miss when starting to trade.

[tvplus006]

Do you mean I should study risk management under trading or just the regular risk management? And if I want to study the technical, academical and you added fundamental analysis of trading then how to manage my deposit and reduce my risk should be part of it.
I actually needed and advice on how to go about it and if you tell me to do something please can you add a direction on what you have used to learn what you already know about trading.

Yes, you need to learn risk management for trading. And if you learn not to lose money trading, then over time, when you acquire the necessary trading knowledge, you will be able to make a profit. You can find all the necessary information for studying using Google or in the relevant topics on this forum.

[ScamViruS]

Yes, you need to learn risk management for trading. And if you learn not to lose money trading, then over time, when you acquire the necessary trading knowledge, you will be able to make a profit. You can find all the necessary information for studying using Google or in the relevant topics on this forum.

Risk management is the most important thing for a trader to be successful. In order for a trader to be successful, along with acquiring trading knowledge and developing skills, one must also have the knowledge to manage risk. When newbie traders first start trading their thoughts are to use trading for quick profits and at the same time they don't follow things like risk management of their account.

Therefore, as soon as you make a profit in trading, you must manage the risk of your account, otherwise, even if you make a huge profit in trading, you will not be able to maintain that profit.

[Oshosondy]

Yes, you need to learn risk management for trading. And if you learn not to lose money trading, then over time, when you acquire the necessary trading knowledge, you will be able to make a profit. You can find all the necessary information for studying using Google or in the relevant topics on this forum.

Also the trading platform are providing their newbie users with some trading information.

Risk management is the most important thing for a trader to be successful.

Successful in making profit? It is part of it but another thing which is very important is emotion and another one is patience but which is very connected to emotions and it still fall under emotions in many ways.

A trader should know how to handle emotions when losing small amount of money.

[irhact]

Newbies especially need to know that it takes alot to become a successful trader. Good effort should be put into learning all about trading. Mentorship from a reliable mentor would go a long way. Trading is not the ideal career  those who want to get rich quick should take up.

You can't get rich quick trading, let nobody deceive you that, it's possible. You can only get rich quick from gambling and in the industry is from a gamble you made on an altcoins that did very well. Getting rich quick shouldn't be your dream because people that get rich quick don't stay rich as they spend everything and go back to being broke because they weren't prepared for the riches that they got. Money won't stay with you when you haven't mastered the act of controlling money. To master this act, you need time and experience and that's what you get when you calm down to understand trading and going through all the process needed to become a good trader.

[mirakal]

Sometimes we think that we will become successful like others. We've been encouraged to trade because others showcase their passive income. Unfortunately, things aren't going that smoothly, as they show. It comes the hard way.

It is something we need to know—that trading should be treated seriously. Trading is not a game of luck like gambling but rather more about knowledge and skill. That is why we need to learn and take extra effort to know more about it. Because this is not just about money but rather more about applying strategies.

[Akbarkoe]

Sometimes we think that we will become successful like others. We've been encouraged to trade because others showcase their passive income. Unfortunately, things aren't going that smoothly, as they show. It comes the hard way.

It is something we need to know—that trading should be treated seriously. Trading is not a game of luck like gambling but rather more about knowledge and skill. That is why we need to learn and take extra effort to know more about it. Because this is not just about money but rather more about applying strategies.

Precisely because it is about money, therefore there must be a strategy, plan, knowledge, mentality, courage, self-control and many more points that must be done in trading, and we cannot get it just by studying for a while, we must have a lot of evaluation of each trade that is done to add new knowledge and self-development in the world of trading.

It's not easy, but it's not impossible for you to achieve.

[Ishicryptic]

Many influencers or successful traders showcase their results with the goal of financial freedom, allowing you to work anywhere and anytime if you have the skills in trading.

that's basically BS, because trading isn't as easy as those influencers make it sound. trading requires a comfortable and quiet environment so you can make better trading decisions. you also need the right tools, such as a pc, a comfortable monitor, trading tools, etc. you also need to prepare before trading, usually by reading the news or conducting technical analysis, and other preparations. so, in essence, trading is quite difficult.. and if beginners believe they can trade from anywhere and achieve financial freedom by following the influencers' words, it's clear they've been deceived by those influencers' claims, because they did not convey the actual facts.

The main challenge that I see many newbies encounter is haste, they will watch a couple of trading guides on YouTube and think that they are ready because those influencers makes it to look quite easy. In reality opposite is the case, trading is risky and it's not something that anybody should rush into but newbies are in a hurry to make profit and they will use almost all their trading funds to enter trade. The fact is that trading is not a get rich quick scheme as many none traders will like to view it and that is why a lot of them lose heavily when they start. Trading needs to be patiently learnt and newbies should start by using funds that they can afford to loose.

[Adams0001]

Newbies especially need to know that it takes alot to become a successful trader. Good effort should be put into learning all about trading. Mentorship from a reliable mentor would go a long way. Trading is not the ideal career  those who want to get rich quick should take up.

You can't get rich quick trading, let nobody deceive you that, it's possible. You can only get rich quick from gambling and in the industry is from a gamble you made on an altcoins that did very well. Getting rich quick shouldn't be your dream because people that get rich quick don't stay rich as they spend everything and go back to being broke because they weren't prepared for the riches that they got. Money won't stay with you when you haven't mastered the act of controlling money. To master this act, you need time and experience and that's what you get when you calm down to understand trading and going through all the process needed to become a good trader.

You are right, anyone that says you will be profitable on trading easily is just deceiving you, and want you to find your self on losing in trading. We should always keep on mind that trading is risky and you can't be profitable when you are not educated on it and have the experience, you will just end up on losing anytime in the market. So you need to have source of income and be patient on it and you will always be profitable when the market is good. So let was not be thinking that you can get rich quickly in trading,  when you haven't achieved the full knowledge about it. you will always face some challenges on trading. Anything that will bring profit for you will always be difficult for you to achieve. We need to calm down when doing anything, we don't need to rush on trading anything is gradually process. To become a successful trader you most face many challenges and loses in the market before starting understanding it more better and get profit.

[DPHOR]

Without looking much deeper into the post content, from my own point of view, I'd rather see people who will enter the world of trading for the first time missing "those things" during their early days of doing trades. Mistakes are inevitable, and experiencing several mistakes is one of the biggest foundations that most newbie traders before went through and now reached the status of being a professional trader.

Experience matters.

Trading to perfection is a stage and we shouldn't expect a trader that just learn about trading maybe for about few weeks to starts making consistent profits from the market when experience has not been acquired. Trading is stages and we should always be prepared to learn and follow rules that will help us to make money from the market without going to far.

Trading is not for the weak but for those that are ready to acquire the knowledge that is needed without being too desperate to make fast profits from the crypto market. Crypto trading should be a dedicated activity not activity that encompasses greed and manipulation.

You know when people talks about education and personal research in gambling it seems as if they aren't serious with what they are saying, no one is expected to make profits within just few days or week after they started trading. Things doesn't work that way in trading and there is no fast way of making money in trading and most especially luck doesn't play any role in trading except that person has the right knowledge and understands the principles of trading before they could starts making profits and even as that they must spends months or a year at least to understand things that concerns trading entirely though as they progresses they would finding strategies that would benefits them for long run while trading.

[goldkingcoiner]

Newbies especially need to know that it takes alot to become a successful trader. Good effort should be put into learning all about trading. Mentorship from a reliable mentor would go a long way. Trading is not the ideal career  those who want to get rich quick should take up.

You can't get rich quick trading, let nobody deceive you that, it's possible. You can only get rich quick from gambling and in the industry is from a gamble you made on an altcoins that did very well. Getting rich quick shouldn't be your dream because people that get rich quick don't stay rich as they spend everything and go back to being broke because they weren't prepared for the riches that they got. Money won't stay with you when you haven't mastered the act of controlling money. To master this act, you need time and experience and that's what you get when you calm down to understand trading and going through all the process needed to become a good trader.

I agree! If a trader gets rich quick by trading, lets say, perpetual contracts on extremely high leverage, then that "trader" got very lucky and his success cannot be attributed to his skills, as that degree of prediction is not possible. You would get liquidated before any pump happens (unless you are extremely lucky, as I said).

Trading for profit is a slow game in which you make losses, wins, losses and more wins. Eventually things balance out and if you are a good enough trader you will have a positive delta. And that small profit, which takes a long time, is what reflects your skills as a trader.

Anything else is fantasy and will end up 99.9% of the time in loss of all your funds.

[BABY SHOES]

Basically just use 2% of your entire portfolio for trading and you're safe, on top of that you don't use all of that 2% but just few percent of it if you future trades.
It's simple and basic money management that people often overlook but can save them from losing in the long run.

Too bad though most of people will ignore such advice and just going into trading thinking they're the chosen one and gonna become the best trader in the entire world.

The fact is, they still use all their money for futures trading, hoping to multiply their profits if they have a large capital... on the other hand, they must be prepared for all the big risks that can occur when the market moves in the opposite direction.

How many traders have much larger positions? Recently, influencer X lost hundreds of millions of dollars due to futures trading. Even if it were your position, you might consider suicide because of the massive losses.

So I'm not particularly enthusiastic about futures trading.

[_BlackStar]

In day trading, the most important thing is to take profits, no matter how many. Many traders become greedy after seeing a profit - by which they leave positions open and unrealized, hoping for a bigger gain. The market won't always be like this - there will certainly be times when prices will fall again due to profit-taking by many traders and investors.

So far, I haven't really enjoyed futures trading for very personal reasons - but I've tried it and made a profit. Of course, considerable experience and analytical knowledge can be utilized in this trading - but futures trading is too risky for those who aren't prepared to lose.

[Strongkored]

What needs to be considered is expectations in trading. If you have relatively little capital, don't expect to get rich quickly because that will be destructive

An ads interrupted my video yesterday and the ads was from a trading guy that said trading is very simple and that anybody can make millions of deposits with just a minimum $10 deposit, some traders are convinced by those ads that's why they expect such profit from their small capital.

Many trading advertisements don't reflect reality, which is unfortunate because it can lead to newbies getting trapped.
In addition to what you mentioned, there was once someone who considered himself an expert promoting crypto trading by saying that when an asset drops, it's not a loss as long as it hasn't been realized. At the time, he was promoting a new coin created by a local artist in my country, whose price has now plummeted.

What I missed when I first started trading was thinking that trading was only about profit, so I was reluctant to stop loss even though it was impossible to always profit.

[uchegod-21]

Newbies especially need to know that it takes alot to become a successful trader. Good effort should be put into learning all about trading. Mentorship from a reliable mentor would go a long way. Trading is not the ideal career  those who want to get rich quick should take up.

Coming from different backgrounds is a natural entity but we have to prepare ourselves for what we want. You can't use the mindset that you're coming from a  situation whereby you've always belittle yourself for certain things but rather embracing a positivity mindset we'll duly help. And therefore going through the process matters with little patience.

Trading is not gambling; if you want to commence trading, you must come prepared. Mere having a positive mindset does not do the magic; positive mindset + skills + determine + patience is the only way out, except the trader has alot of money to spare.

Many trading advertisements don't reflect reality, which is unfortunate because it can lead to newbies getting trapped.

I once met a trader who tried to convince me that trading signals does it all. He made trading seem so easy to make profits from. I am currently wondering how far he has gone with his trading  journey. That must be some newbie who was misled by those advertising trading signals. If he made money from that, that's just luck smiling at him. No one should rely on trading signals alone.

[Wakate]

Newbies especially need to know that it takes alot to become a successful trader. Good effort should be put into learning all about trading. Mentorship from a reliable mentor would go a long way. Trading is not the ideal career  those who want to get rich quick should take up.

You can't get rich quick trading, let nobody deceive you that, it's possible. You can only get rich quick from gambling and in the industry is from a gamble you made on an altcoins that did very well. Getting rich quick shouldn't be your dream because people that get rich quick don't stay rich as they spend everything and go back to being broke because they weren't prepared for the riches that they got. Money won't stay with you when you haven't mastered the act of controlling money. To master this act, you need time and experience and that's what you get when you calm down to understand trading and going through all the process needed to become a good trader.

You don't need to deceive yourself by trying to make trading looks like it's evil or something impossible.
You can always make profits from trading and become a rich trader if you actually know what you are doing. For the fact that you don't know how to trade or how to be profitable in trading does not mean that you have to underestimate the power of trading for those that have being profitable in trading for consecutive years.  Traders are really making money from trading but majority are losing just because they don't have sufficient information that will help them become a better trader.

[Deborah Christine]

What will recommend to me as a good way to learn trading technically and academically. I have the interest to trade but I have loss now I am afraid to continue. How can I get my determination back and how can I be successful at trading?

I've been trading since 2017, and I don't think trading is easy. Until now sometimes I still get loss but my profit is bigger than my loss. To succeed in trading, focus on:
1. Learning the basics of trading and technical analysis
2. Practicing with a demo account
3. Good risk management
4. Creating a clear trading plan
5. Learning from mistakes and continuously improving
Don't forget to stay disciplined and patient in trading.

[Joy_learns_crypto]

I've been trading since 2017, and I don't think trading is easy. Until now sometimes I still get loss but my profit is bigger than my loss. To succeed in trading, focus on:
1. Learning the basics of trading and technical analysis
2. Practicing with a demo account
3. Good risk management
4. Creating a clear trading plan
5. Learning from mistakes and continuously improving
Don't forget to stay disciplined and patient in trading.

Thank you. You said you get losses but your profits is bigger than you loss so we can say that you are now a successful trader. If I follow what you just listed will that make me a successful trader? If yes then why is everyone not successful at trading because this step are not difficult to follow.
And another question that I always want to ask, those who makes it in trading are usually the influencers who  have something to gain but the traders I know in person are all complaining about loses while the mentors who we pay to learn from claim that trading is paying them.

[justdimin]

You don't need to deceive yourself by trying to make trading looks like it's evil or something impossible.
You can always make profits from trading and become a rich trader if you actually know what you are doing. For the fact that you don't know how to trade or how to be profitable in trading does not mean that you have to underestimate the power of trading for those that have being profitable in trading for consecutive years.  Traders are really making money from trading but majority are losing just because they don't have sufficient information that will help them become a better trader.

While I would agree with others that it's very difficult to do this, I have to say it is possible. Sure, when you first start, and maybe even after a while, you may feel like you do not know what you are doing and the whole trading concept could look foreign to you. But that doesn't mean you should be looking at this from point of view of a loser, but a winner.

If you think what you can do if you won, then you can see what is possible . Just the simple "imagine your life if you were making profit from trading" could change everything. That would make you live a much better life, probably earn more, work anywhere, and even move to a more entertaining place, like at some beach somewhere. It's not an easy task at all.

[bangjoe]

I skipped those parts when I first started learning, so my life wasn't going well. I relied solely on my determination as my initial capital

How did you manage to keep your determination after losses. I have tried my hands on trading but I have lost already in it and my problem is find a new determination after the initial determination I had starting trading has been bashed with an iron rod of losses

Maintaining determination is when I think that I am quite a lot of failure in trade, making me think, "Do I have to give up when a lot of sacrifice has been done" thinking in that gap that makes me come back with a different mental atmosphere. If the philosopher's child states that (if you are able to dialogue with yourself about your problem then you find a way forward).

Of course, learning trading technically and academically is very important and must be done because it is essential as your capital to analyze the market, both technically and fundamentally.

What will recommend to me as a good way to learn trading technically and academically. I have the interest to trade but I have loss now I am afraid to continue. How can I get my determination back and how can I be successful at trading?

I’ll share a bit—you may have heard of trading styles like scalping, swing trading, and others. Such knowledge is important for you, so we’re not just talking about patterns and candles, but there’s a lot of information that needs to be updated, like macroeconomic developments, which are the biggest factors influencing the market.

Looking at many successful traders, they don’t trade every day; instead, they seek opportunities and position themselves strategically, which allows them to capitalize on significant profit potential. Never take a position when there’s no clear opportunity or moment to act.

[jaberwock]

While I would agree with others that it's very difficult to do this, I have to say it is possible. Sure, when you first start, and maybe even after a while, you may feel like you do not know what you are doing and the whole trading concept could look foreign to you. But that doesn't mean you should be looking at this from point of view of a loser, but a winner.

If you think what you can do if you won, then you can see what is possible . Just the simple "imagine your life if you were making profit from trading" could change everything. That would make you live a much better life, probably earn more, work anywhere, and even move to a more entertaining place, like at some beach somewhere. It's not an easy task at all.

It's definitely hard to make a trade, that part is true, nothing about it makes it change, that's the reality it is living in. We are seeing how things are changing, so it is not the problem we are facing at all. If we do, then it will be good to make it work and learn how it works.

But if we have no idea, then we can't make it work, and we can't change it. Surely it's a tough business to be in, but that is not going to be easy for any of us. Takes time, but when you finally get there and become a good professional trader one day, even if it takes years, when you get there, you will be very happy. You need to enjoy learning, some people are bad students, and if you are one, it may hurt a bit, or take longer, but if you are willing to learn, you will do better.