I know what I am doing (New traders plague)

[Findingnemo]

People can make money from trading and there are people who claim they are entirely living off their life from trading income only but it doesn't mean everyone can make that level of success. The problem is people will quit their job straight away when they start trading which isn't necessary that they do, still they can do trade while doing thait regular job.

[shawonngp]

If someone is new to crypto trading and keeps losing, then trading would seem like gambling. Who has no basic knowledge of crypto trading, He buys coins randomly, and when he loses everything, he blames trading as gambling; it must be his lack of knowledge. I also prefer that new traders not trade daily or weekly, but hold bitcoin for the long term; eventually, they can generate good profits. But it is a big mistake to quit a job and expect significant income from crypto trading, because there is no guarantee of a fixed income from trading. So trading is a kind of passive income.

[Adams0001]

Lack of proper knowledge and understanding of how the trading system works is what leads to people seeing trading from the angle of gambling. Trading and gambling are definitely two different things entirely. When you are trading, you are dealing with speculations in the market and targeting the most effective way to leverage on them for your profits.

In trading, you will have to learn the art of capitalizing on the market being it the short term or long term trends, you will learn the most effective way to enter a trade with your capital and leave a trade with your profits. This is purely achieved through knowledge and understanding about the market while gambling is an entirely different thing, completely based on luck and predictions. When gambling you do not even have a single control on the outcome of your gambling game and only reliant on the results gotten from the prediction based on the luck.

Some people see trading and gambling have some similar things, that is why they always beleave like they are doing the same thing and but are risk. But many people that always says that is because they don't have the knowledge in bitcoin that is why they call gambling and trading the same but if you understand it very well you will definitely know that they are different things, so newbies just need to focus on trading very well first before they are no how he goes because is risk is not something that is easy and you will lose your funds in just a few minutes. So is better you get the experience first before you start risky your money. You need to be wise and understand market before putting your funds.

[Finestream]

Just because you enter crypto investment, hence you decide to trade as well. That is a very wrong move most especially for newbies out there who are thinking that with trading they can gain easy money and will make them rich after few years of successful trading.

If this is true, then how come that majority are losing while trading in the market? Not just newbies, but even the experienced ones, trading still makes them incur losses  and worst thing is, losses are inevitable and they can't hold of it.

This only proves that newbies should stay away from trading if they are scared to lose, but if they're willing to risk their funds just to gain skills and experience, then so be it, but never expect that they will get rich instantly from consistent trading.

[Abu-Naim]

Trading is just like gambling.

You are better with holding Bitcoin for long term and go out to get a job or maybe rather develop a skill online.

If you must trade still, do it responsibly.
Always trade with what you can afford to lose.
Fight for your feelings, control your feelings and don't let greed get the best of you.

One thing with beginners is that they feel like once they have some basic knowledge and maybe knows how to do some TA, they are good to go especially if they are learning when the market is in good shape and they make little profit from their trades; they will want to jump in directly without risk management techniques because they feel they knows it all and can outsmart the market since they have the knowledge; but once the market hit them, they started to blame the crypto and maybe trying to back to their mentors complaining especially if they lose their capital to trading; that’s when they will come to conclude that it is not simple because they have lost both their initial capital and all the profit they might have made from trading. It is not for the weak, it is for users who are dedicated and knows how to take risk and can take anything when the market turns otherwise.

[Ndabagi01]

Nice piece put together, I like the last part as it is very vital and people overlook that part when coming into trading. As a trader, you should know that you’re coming into a very high risky environment, where any mistake you make will cost you your money. The market doesn’t know if the money is yours or you went to borrow it to trade, as long as you don’t get to trade in the direction of the market, you’re most likely to blow your money up in due time.

Trading is not a get rick quick scheme, you don’t rush into it, you don’t have to make mistakes over again, all of that will eat your investment up and will go back to square one. As a trader, having another source of income is very important, the market is demanding and want you to be actively placing trades when opportunity arise in the market, so without a source of income to fund your account, there is no way you can get to tap into this opportunity in the market.

[programmer3666]

If you must trade still, do it responsibly.
Always trade with what you can afford to lose.
Fight for your feelings, control your feelings and don't let greed get the best of you.

Trading is just not an easy thing at all, especially for beginners like us! lot’s of people just go into it thinking they will make that quick and smooth money that those fake influencers have been flaunting on social media and at the end so many people will lose everything because of greed and emotions.
As for me, I have lost alot and i have learn a whole lot as well, so I actually came up with my own vague strategy. For now, I am following the rule and guidelines of compound trading. I usually use small capital, sometimes as little as $10, with about 5x leverage. My target is usually around 10% TP. The idea is not to chase big wins but to grow the account gradually. I just pray i stay disciplined enough and don’t derail later because trading requires a lot of emotional control and responsibility.

[Zanab247]

Trade what you can afford to lose in the market which is very important to new traders, because market price can change at anytime to cause some to lose plenty profit, but anyone that take this advise from experience traders in this forum will not feel bad. Even though you know what you are doing in crypto trading you still need to ask those that have been successful in that trade some questions that will make your success to start flowing whenever you want to trade in the market.

This is my advise to new traders, never you feel too big to ask question from those that are ahead of you, because that is what will make you never to give up on crypto trading either making progress or not because you have achieve what will make you great in the future.

[tvplus006]

...Trading is just like gambling. ..

Tell me what you see as the similarity between trading and gambling. In my opinion, the only similarity can be if you don't know anything about trading at all and hope to make a profit only through luck. In this case, trading really becomes like a casino.

[7juju]

Fight for your feelings, control your feelings and don't let greed get the best of you.

Greed is always what fuck most traders up, greed is mostly responsible for the wrecking of most traders. Any trader that is able to control his greed level will end up lasting longer in the market. It is easy to say fight your feelings and control your greed level till you start trading that's when you will realise that these things are like addictions that you can't easily fight and win. That's why traders who finds it difficult to control their feelings, do most their trading with a trading robots. If you must trade and you find it difficult to control these feelings, get yourself a trading robot and use it for your tradings.

[Rruchi man]

...Trading is just like gambling. ..

Tell me what you see as the similarity between trading and gambling. In my opinion, the only similarity can be if you don't know anything about trading at all and hope to make a profit only through luck. In this case, trading really becomes like a casino.

This is spot on!

Your approach to trading is what will determine if you are gambling or trading. Many people think they are trading when, in fact, they are still gambling as they are making decisions not backed by reason or facts and responding to emotions, etc.

Individuals in the market who are in control of their emotions and are only taking trading decisions based on facts from their technical and fundamental analysis are the ones who are actually trading.

[Maslate]

There are those who find fortune in trading, and there are also those who only experience beginner's luck and after that are just series of losses, it just means trading is not for them.

Trading is definitely hard especially if you are still in the process of learning, and the risks are undeniably high as expected. This is why trading is really a big challenge for everyone, because its not only for sole profits, but proper risk management matters the most. If you can't apply risk management, then no matter how good and experienced you are as a trader, you will never gain something for long term.

That is why trading is not for everyone. And those who are currently in good trading positions right now, they might have been through a lot of trading struggles at first.