Learn and understand before trading.

[Nwadiche]

Trading is not just something to rush into , it’s a skill that should be carefully understood, learning how the market works, trading is very risky when there is no adequate knowledge on how to go about it ,  it requires patience, invest alot of time in understanding how it comes, trading and gambling are two different thing that shouldn't be categorized as same , losing money in trading involves a whole lot of emotion, mental breakdown, to be successful in trading, you need a right mindset , focus , discipline and Also be consistent, because if not , a common mistake can cause your money .

[Slimzeee]

Start off by understanding the asset you want to trade (which in this case is Bitcoin, but it can be any other asset, because trading is versatile), its behaviour, what causes its price to rise and fall over time, and the governmental regulations that might likely affect its price movement.
Also, start off by understanding the platform, and this can easily be done by first utilizing demo accounts. Knowledge won’t stop a few losses here and there, but you will always have an edge.
However, the real experience comes when you start trading and make mistakes; that’s where knowledge goes beyond just demo attempts.

[Mpamaegbu]

It’s very Risky for someone who doesn’t have knowledge or idea of how trading works, and it’s not right for the person to start trading.

Until people begin to reason like dis, a lot of dem go continue to dey see trading as a scam bc dem go dey lose money on a steady. Anytime wey I read articles or posts online of people wey claim sey dem became profitable afta like one – three months of practicing trading, I dey laugh. I know sey na lie e bi.

To become profitable in trading nor be beans. E dey com wit months and years of grinding with burnt accounts to get to dat level of consistent profitability. I said consistent, e nor mean sey losses nor go dey. Of course, losses will always dey but na make profit pass losses be d thing. Trading na profession e be like any professional courses wey we dey study for tertiary institutions. E nor be kalukalu. Na so we supposed take dey see trading so we go handle am wit all seriousness.

[Inior]

It’s very Risky for someone who doesn’t have knowledge or idea of how trading works, and it’s not right for the person to start trading. Even if luck sometimes can help the person. Trading isn’t only about guessing whether a market will go down or up. It’s all about having understanding about the market, strategy, risk management. and discipline.
If a person decides to choose randomly, they may end up losing all their money. I’m not lying. they may also end up finishing all their savings. Trading is a skill that someone needs to practice, learn, and be patient before they can make steady profit.
My advice is that, don’t rush to start if you don’t know the system. first, you need to learn, practice with demo account, know risk management and understand how the market works. After all this, you can now start trading.
Trading isn’t lottery, it requires skill, knowledge and patience. If you go into trading without proper knowledge, you will lose everything.

Irrespective of you knowledge trading go fit still fuck you up. Them say people wey dey really profit for trading no reach 5% of the total traders so you dey try tell me say the rest 95% person no get knowledge about trading.  Abi why you feel like say all the whole trading course just dey teach you thesame things wey already dey the internet yet them go tell you say na em dem dey use take dey profitable. E get one thing wey one big trader talk wey make me just know say all these trading videos na just shit. E talk say profitable strategy dey change and once many people don start to use same strategy the banks or the big institutions go know then use that same strategy against them take create liquidity for their own move.

[OsaiEmma]

It’s very Risky for someone who doesn’t have knowledge or idea of how trading works, and it’s not right for the person to start trading. Even if luck sometimes can help the person. Trading isn’t only about guessing whether a market will go down or up. It’s all about having understanding about the market, strategy, risk management. and discipline.
If a person decides to choose randomly, they may end up losing all their money. I’m not lying. they may also end up finishing all their savings. Trading is a skill that someone needs to practice, learn, and be patient before they can make steady profit.
My advice is that, don’t rush to start if you don’t know the system. first, you need to learn, practice with demo account, know risk management and understand how the market works. After all this, you can now start trading.
Trading isn’t lottery, it requires skill, knowledge and patience. If you go into trading without proper knowledge, you will lose everything.

You've mentioned a lot of important necessities needed to be a fairly profitable trader except for one tyn, and that is capital. One of the main tool need to be a successful trader is capital, without good capital, all the tynz you've mentioned won't save you from having a marginal call, especially if you're a day trader or scalper.

Low capital will lead to over leveraging, which will lead to fast and unexpected marginal call, if you have little capital, your risk management will still be looking very risky.

My opinion is (NFA) , after learning, gather enough capital before venturing. Capital that you will use to learn properly and have a real feel of the market, and capital that you'll use to start trading properly and start making consistent gains. Cause if after doing demo trades and you feel that you're ready, trust me, the market will surprise you, you need real live trading experience before you can truly be ready and capable.

Another opinion is, if you're starting, please and please, don't start as a scalper, don't trade lower time frames, trade daily, weekly and even monthly time frames. Use higher time frames to make your analysis, and lower time frames to take your entry. I know a lot of us have heard this, but this is simply the truth, that's the best way I feel you can survive the market. When you're confident enough and very skilled, you can start scalping the market.

[Pi-network314159]

First of all this thread sopos dey for trading section or board but as e don be e don be, but However I go still talk am say trading no be for everybody. Anybody wey wan trade make e go learn am first, but otherwise my Best advice na say make e go invest for Bitcoin because naim be the safest way than trading. Many people don complain how Dem lose big money for trading or gambling shitcoin, but yet Dem still dey run am because Dem wan become rich overnight. Wrong information fit make person go make big mistake for this journey, and when that person don lose big money, e eye go clear. Make we just dey careful for the decision we dey take or advice from people around us. Because Dem fit no sabi this things like that but Dem fit advice you go make mistake, and any mistake you do go affect your financial life.

[Anayochukwu]

Op your advise dey very good nothing more than that because trading dey very risky well well so e go dey very good say we help ourselves and know the risk involved before starting fully. To be honest nothing better say you settle down check the necessary things wey dey involved in the business because when you are knowledgeable about anything you want to start you no go bother yourself too much for any reason even though you dey lose small small but e go prevent you from spending much money because you go have some discipline and self control all the time without losing much money. So make we take knowledge and patience very serious before we jump into conclusion.

[AmaGold70]

It’s very Risky for someone who doesn’t have knowledge or idea of how trading works, and it’s not right for the person to start trading. Even if luck sometimes can help the person. Trading isn’t only about guessing whether a market will go down or up. It’s all about having understanding about the market, strategy, risk management. and discipline.
If a person decides to choose randomly, they may end up losing all their money. I’m not lying. they may also end up finishing all their savings. Trading is a skill that someone needs to practice, learn, and be patient before they can make steady profit.
My advice is that, don’t rush to start if you don’t know the system. first, you need to learn, practice with demo account, know risk management and understand how the market works. After all this, you can now start trading.
Trading isn’t lottery, it requires skill, knowledge and patience. If you go into trading without proper knowledge, you will lose everything.

Trading Bitcoin or any other cryptocurrency is very risky. For this reason, it is very necessary you support yourself with sufficient trading skills before you can succeed. You should be very conversant with trading signals, and be able to familiarize yourself with the use of trading tools properly. You can loose significant amount of money in trading more especially as a bigginer. Do you know that even as a professional trader, you can still loose money? So if even a professional trader can loose money, talk less of a bigginer. Many unskilled traders have ever regretted trading cryptocurrency, the reason is because they have failed to acquire the required knowledge thinking it is an easy way of making money, but unfortunately for them, they failed.

[Fiasem20]

Trading isn’t lottery, it requires skill, knowledge and patience. If you go into trading without proper knowledge, you will lose everything.

The chances of making steady profits in trading isn’t as easy as anyone could think of.In reality,many people are advised to hold their coins for the long term instead of losing them through trading.Even if you attain the highest knowledge in regards to trading you might still not be perfect,but that shouldn’t stop you from learning effectively before putting it to practice.I would say it over and over that even if you’re perfect in trading doesn’t mean you won’t lose but probably not as often as a newcomer,that’s why I would always recommend holding for a long term.

[VivaMan]

For you to avoid losses in trading, you have to learn and unlearn very well before trading.
It's adivicible for one to seek advice from professional getting knowledge and understanding the trading platform very well, because when it loses start coming it will be a say of how I wish I was told, so to avoid this , one need a professional around.
Make sure you fellow the rules and regulations to be guilded in the platform to avoid mistakes.. having be guided by rule's it will teach you when to invest and when not to , to avoid regrets and losses.

[Pressurizedem]

This part is where so many persons fail. They forget to ask some necessary questions before they embark on the journey of trading, forgetting trading is just like gambling, very risky and complicated. They assume putting more money in it will guarantee them winning, but the reverse is the case. The more money you use, the more money you lose, except you have had a little experience about it.
 It is better to learn, read, ask questions and better still emulate some one if you want to win in trading.

[Crakryptvest]

This part is where so many persons fail. They forget to ask some necessary questions before they embark on the journey of trading, forgetting trading is just like gambling, very risky and complicated. They assume putting more money in it will guarantee them winning, but the reverse is the case. The more money you use, the more money you lose, except you have had a little experience about it.
 It is better to learn, read, ask questions and better still emulate some one if you want to win in trading.

It is not about trading being gambling, they might be sharing some similarities but that's not the problem here, it all boils down to learning and having the necessary skills before starting, I have listened to many traders saying that as a trader you should nkg when to exit, don't be too greed, have your targets if you succeed pull out immediately and also have a strategy that you can follow, all this things are steps but some people don't want to go through these process, they want to make money by all cost not minding if it is possible as they have it in their mind, if anyone wants to be a trader or any other thing they think that can profit them, such person must cool down and learn to avoid excessive loss due to not having the right skills.

[DiMarxist]

Snip

It is not about trading being gambling, they might be sharing some similarities but that's not the problem here, it all boils down to learning and having the necessary skills before starting, I have listened to many traders saying that as a trader you should nkg when to exit, don't be too greed, have your targets if you succeed pull out immediately and also have a strategy that you can follow, all this things are steps but some people don't want to go through these process, they want to make money by all cost not minding if it is possible as they have it in their mind, if anyone wants to be a trader or any other thing they think that can profit them, such person must cool down and learn to avoid excessive loss due to not having the right skills.

It all boils down to learning and having the right technical know about when it comes to trading. A person who is not well equipped to trade will not give much attention to strategy and knowing when to exit the market when necessary. The place of education can't be overemphasized because that is the bedrock upon which anyone who wants to trade can start with. Anyone who is trading without the right mentality and trading psychology which can only be gotten via proper education is like to someone who is gambling.

[Jostern]

No matter how professional you are in trading, you cannot make steady profits, you will end up losing in the long run. I will advise anyone that wants to trade to avoid trading because seeking for quick profits is a path to big losses. Trading is very risky, it will be better to start your crypto journey as a long-term bitcoin investor and forget about quick profit because it's easily said than done. Demo isn't the same with real trading.

That’s not true. Crypto trading is a big market and opportunities are there for traders to profit from market movements. The trick is to make sure your profit margin is higher than your losses. However if you do not have the required knowledge of trading and experience, it’s best to simply be a long term bitcoin hodler.

I think trading is all about skills and you don’t just go into trading without having any knowledge or experience about trading, there are people who actually practice trading and you don’t just go into trading from nowhere, and you actually need to have a very good understanding idea, I wouldn’t dispute the fact that the cryptocurrency market is a huge market and it’s obviously booming for people who knows what they are doing in terms of trading, I think they always want to make profits which is the targets, and they always knows how to time the markets and also try to speculate about the market which I think they’re very good at speculating about the market conditions, and traders are mostly interested in making quick profit decisions.

[SmartGold01]

Trading is actually good but it depends on whom that is trading and also the type of market you trade also attributes to yourself of becoming successful through trading. For instance; there are people who trade on future, there who trade on derivative market, spots trading and so on, if you do not know one very well and you keep jumping in between then your loses are sure. But when you depends on spots trading or future trading it would really help you and this would require you to know more about technical analysis and fundamentals analysis, risk management all these would definitely help you alot.

[Sulegzy39]

It is extremely risky for someone who has no information or understanding of how trading works, and it is not appropriate for the individual to begin trading. Even luck can occasionally aid a person. Trading isn't only about predicting whether a market will fall or rise. It's all about analysing the market, developing a strategy, and managing risks. and discipline. If a person chooses randomly, they may lose all of their money. I am not lying. They may also wind up spending all of their savings. Trading is a talent that requires experience, learning, and patience before one can achieve a consistent profit.

My advise is to wait until you are familiar with the system before beginning. First, you must learn, practice with a demo account, grasp risk management, and how the market operates. After all of this, you can begin trading. Trading is not a lottery; it involves talent, knowledge, and patience. If you start trading without sufficient understanding you will lose everything.

[Stormisover]

This part is where so many persons fail. They forget to ask some necessary questions before they embark on the journey of trading, forgetting trading is just like gambling, very risky and complicated. They assume putting more money in it will guarantee them winning, but the reverse is the case. The more money you use, the more money you lose, except you have had a little experience about it.
 It is better to learn, read, ask questions and better still emulate some one if you want to win in trading.

A very big pity for those who can be inpatient to learn thoroughly before attempting to trade on their own, the issue is that most people have so much pride and at every little they have learnt they feel that have arrived and have know it all or even while they have a very long way to go, they cut short of their learning process to prove a point and they end up messing up, I hate trading because the people I know that trades always trades out of greed and trading with an amount that when they lost it affects them negatively, they want to get rich over night and some uses money that is not their own.

[GIF-JOBS]

Snip

It is not about trading being gambling, they might be sharing some similarities but that's not the problem here, it all boils down to learning and having the necessary skills before starting, I have listened to many traders saying that as a trader you should nkg when to exit, don't be too greed, have your targets if you succeed pull out immediately and also have a strategy that you can follow, all this things are steps but some people don't want to go through these process, they want to make money by all cost not minding if it is possible as they have it in their mind, if anyone wants to be a trader or any other thing they think that can profit them, such person must cool down and learn to avoid excessive loss due to not having the right skills.

It all boils down to learning and having the right technical know about when it comes to trading. A person who is not well equipped to trade will not give much attention to strategy and knowing when to exit the market when necessary. The place of education can't be overemphasized because that is the bedrock upon which anyone who wants to trade can start with. Anyone who is trading without the right mentality and trading psychology which can only be gotten via proper education is like to someone who is gambling.

Yes, there are many who think that trading is just a shortcut to profit, but in reality they have little idea of how difficult it is. And because of this lack of practical knowledge, they face a lot of losses in the first place. It is important for them to understand and learn trading before starting trading, they have to learn trading for a long time, and through long-term learning, they have to gain skills and then it is possible to gradually get good results from trading. But if we want something big first without knowledge, then it is completely unrealistic and it will definitely lead to more losses.

[Big Dirams]

This part is where so many persons fail. They forget to ask some necessary questions before they embark on the journey of trading, forgetting trading is just like gambling, very risky and complicated. They assume putting more money in it will guarantee them winning, but the reverse is the case. The more money you use, the more money you lose, except you have had a little experience about it.
 It is better to learn, read, ask questions and better still emulate some one if you want to win in trading.

A very big pity for those who can be inpatient to learn thoroughly before attempting to trade on their own, the issue is that most people have so much pride and at every little they have learnt they feel that have arrived and have know it all or even while they have a very long way to go, they cut short of their learning process to prove a point and they end up messing up, I hate trading because the people I know that trades always trades out of greed and trading with an amount that when they lost it affects them negatively, they want to get rich over night and some uses money that is not their own.

It true that some traders does always feel so much pride of themselves after learning few things from trading must especially the new traders that joins the journey newly. But on the contrary of you saying that traders are always greedy when it comes to trading in the market that are just for some traders who really lacks emotional control while trading if not a trader would always apply good risk management to their journey and take advantage of what is meant for them and let go of the other opportunities because a lot of opportunities would still show up in the market far better than missed ones.
 Some traders does trade out of greed and ignorance wasting all their funds on a single trade which is inappropriate. As soon as we allow greed to swallow us then our journey has been ruined. Let avoid greed while trading and make sure to understands that there are more opportunities coming in the future.  

[Yorubek]

This part is where so many persons fail. They forget to ask some necessary questions before they embark on the journey of trading, forgetting trading is just like gambling, very risky and complicated. They assume putting more money in it will guarantee them winning, but the reverse is the case. The more money you use, the more money you lose, except you have had a little experience about it.
 It is better to learn, read, ask questions and better still emulate some one if you want to win in trading.

A very big pity for those who can be inpatient to learn thoroughly before attempting to trade on their own, the issue is that most people have so much pride and at every little they have learnt they feel that have arrived and have know it all or even while they have a very long way to go, they cut short of their learning process to prove a point and they end up messing up, I hate trading because the people I know that trades always trades out of greed and trading with an amount that when they lost it affects them negatively, they want to get rich over night and some uses money that is not their own.

Yes, There are many people who think they are very knowledgeable about trading, they think they have a lot of knowledge about trading, their ideas or strategies can bring them success. But the reality is not so simple, to really succeed in trading, the right knowledge is very important, along with having knowledge about the volatility of the market and patiently entering the market at the right time. When a person understands the volatility of the market with the right knowledge, enters at the right time and is able to withdraw all his money from the market by controlling his greed, he can make money from trading.

From my perspective, achieving success through trading is not an easy way. The possibility of losing money through trading is always high, so it is good to start trading with the right knowledge, patience and understanding, otherwise the possibility of losing money can increase manifold. Choosing to trading only based on greed or emotion is nothing but stupidity. It is wise to use your valuable money wise.