Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: Thyplaymaker on April 10, 2024, 08:26:39 PM
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Now and days alot of people have this mindset that trading is get rich quick scheme, which shouldn't be like that . I have seen alot of cases where newbies or individual with half-size knowledge about this space jumping into trading without any proper knowledge, some even go further starting with future trading, with the sole aim to make alot of profit fast .which is actually wrong , because you may endup making countless losses with such move .
so if you don't have good knowledge about trading please focus more on spot trading instead, because as time goes on your trading skills would increased with minimise risk . And also no matter the dip , aslong the coin you trading is well known and nice , it would surely recover from that dip and you may endup with good profit if you are patient enough. But if it was future trading, the dip may endup triggering your liquidation and your trading cash may endup liquidated.
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There is always an advice and they have always been an advice, the problem is that will the people involve embrace the advice? Even if they decide to embrace the advice on their own, will greed allow them? Most people that joins the trading bandwagon just because Peter my friend did it and was successful, I will also do it and be successful. Afterall, I am smarter than him. This is not all about smart, do you know how far Peter is ahead of you in knowledge of trading?
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Futures, leverage and options are not really for beginners and in my opinion should not be attempted at all.
You should take risks only with your money so that you can have better control over your emotions cause there is no added pressure behind your back that will push you to make wrong moves.
As a beginner you can try spot trading with safe pairs like BTC/USDT in mid term.
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Trading is all professional game, skill is very important. When a trader starts trading without trading knowledge, he risks his capital and at some point he loses his capital and leaves the market. Futures trading is most dangerous for a new trader, even many experienced traders avoid futures trading. Traders must develop trading skills before starting trading to protect their funds from major losses. A new trader should always trade in major pairs, so as not to panic and lose due to excessive volatility, risk management will allow a trader to try to keep funds safe even in bad conditions.
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But if it was future trading, the dip may endup triggering your liquidation and your trading cash may endup liquidated.
Future trading is very risky. The good traders are using 1x leverage or below. But some traders prefer to use high leverage, making the liquidation price of their trading asset to become closer to the market price and that is one of the reasons some traders are losing in trading. Even spot trading is not for everyone. There are some people that will trade spot and see themselves continue in losses. Holding can be better.
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Now and days alot of people have this mindset that trading is get rich quick scheme, which shouldn't be like that . I have seen alot of cases where newbies or individual with half-size knowledge about this space jumping into trading without any proper knowledge, some even go further starting with future trading, with the sole aim to make alot of profit fast .which is actually wrong , because you may endup making countless losses with such move .
Right, we can partly blame the media for this. I mean it was portray by this so called influencer that crypto trading is easy and that they could make a lot of a money in the quickest time. And so it's going to be a rude awakening for this news and they can't get out of it because they put to much capital and the only way to get out is to suffer a lost.
so if you don't have good knowledge about trading please focus more on spot trading instead, because as time goes on your trading skills would increased with minimise risk . And also no matter the dip , aslong the coin you trading is well known and nice , it would surely recover from that dip and you may endup with good profit if you are patient enough. But if it was future trading, the dip may endup triggering your liquidation and your trading cash may endup liquidated.
Yes, just learn and take it slow in the beginning, educate yourself and remember to have patience as well. Don't go on future trading in the beginning, there is a big risk involved. Just do the regular trade and see how it goes. If you find it tiring and you are not making money then maybe trading is not for you.
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so if you don't have good knowledge about trading please focus more on spot trading instead, because as time goes on your trading skills would increased with minimise risk
For people who have no enough knowledge in trading, I even suggest to learn first. No need to hurry for trading coins, it is a careless way to try luck in trading. Spot trading also requires sufficient knowledge, it is not for a zero knowledge people. But future trading is not for average traders, even if someone has sufficient knowledge, it is not recommended to try future trading. I think it is just for experienced or professional traders only.
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There's a difference between futures Greed and fear is a very bad thing on futures if you don't have good risk management you will end up losing a huge amount and in spot trading, you need to be patient as it requires time and you can only make a profit on surge price unlike futures you can also make a profit in declines.
What I could only suggest if you are going to future trading don't invest much always put a position with small risk and low leverage to avoid losing much.
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There is always an advice and they have always been an advice, the problem is that will the people involve embrace the advice? Even if they decide to embrace the advice on their own, will greed allow them? Most people that joins the trading bandwagon just because Peter my friend did it and was successful, I will also do it and be successful. Afterall, I am smarter than him. This is not all about smart, do you know how far Peter is ahead of you in knowledge of trading?
Exactly, back the I myself actually knew that greed would lead to losses but still let it get the best of me, but now I can manage my emotions when it comes to stuff like this after going through alot of losses caused by lack of emotional and risk management. Well as they say experience is the best teacher is experience and it endup teaching me well but in a strict way . That why as a newbie you have to learn from others, so that you can be able to learn from others mistakes, and this forum as made it easier for newbies to learn from knowledgeable individuals here.
But if it was future trading, the dip may endup triggering your liquidation and your trading cash may endup liquidated.
Future trading is very risky. The good traders are using 1x leverage or below. But some traders prefer to use high leverage, making the liquidation price of their trading asset to become closer to the market price and that is one of the reasons some traders are losing in trading. Even spot trading is not for everyone. There are some people that will trade spot and see themselves continue in losses. Holding can be better.
Most people that use higher leverages are those that don't have alot of trading funds, so inorder for them to make much or bigger profit quick they would let greed to get the best of them, which will lead them in using high leverages. That may endup getting them liquidated. While Someone that's financially stable can trade with a huge amount of money while using a leverage as low as ×1 , and would still endup with some good profit if the market move his way.
That's true spot trading is not fir everyone, a friend of mine back then was a spot trader , whom mostly trade all kind of altcoins and shitcoins. And at then he didn't have much knowledge about trading and at same time lacks the habit of always researching, so he will just go about trading all kinds of random coins and any time there's a slight dip in market he would quickly sell in losses due to panicky and he continues like that till he discovered that he was not progressing in his trading , so I managed to convince him ( because of the bullrun :)) into holding now and his holding is doing a good job for him in the profit aspects due to the recent surge in market in the past months.
so if you don't have good knowledge about trading please focus more on spot trading instead, because as time goes on your trading skills would increased with minimise risk
For people who have no enough knowledge in trading, I even suggest to learn first. No need to hurry for trading coins, it is a careless way to try luck in trading. Spot trading also requires sufficient knowledge, it is not for a zero knowledge people. But future trading is not for average traders, even if someone has sufficient knowledge, it is not recommended to try future trading. I think it is just for experienced or professional traders only.
Is true because going to future trading without any proper knowledge Is like one gambling with his money. Even some pro are Still finding it difficult.
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Now and days alot of people have this mindset that trading is get rich quick scheme, which shouldn't be like that . I have seen alot of cases where newbies or individual with half-size knowledge about this space jumping into trading without any proper knowledge, some even go further starting with future trading, with the sole aim to make alot of profit fast .which is actually wrong , because you may endup making countless losses with such move .
so if you don't have good knowledge about trading please focus more on spot trading instead, because as time goes on your trading skills would increased with minimise risk . And also no matter the dip , aslong the coin you trading is well known and nice , it would surely recover from that dip and you may endup with good profit if you are patient enough. But if it was future trading, the dip may endup triggering your liquidation and your trading cash may endup liquidated.
If we continue to do any work with excessive haste, but the result of that work will never be good. Every work needs proper planning and it is very important to do the work gradually according to proper planning. If we are in a hurry to do something, we will definitely take a shortcut to do it, and whenever we take a shortcut in an important task, it will be seen that we will not be able to do the job perfectly. It is necessary to be patient enough in buying any coin, if we buy any coin after seeing that the market has dumped a bit then it will definitely be a wrong decision for us. There has been some dumping in the market, maybe that dumping will be bigger in that case if we buy at that time instead of waiting, but we will be affected in the beginning.
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We are all here because we want to earn money, but the mindset of getting rich quick that's why we're here can lure us to become liquidity in the market. This also means that you have a poor mindset and you are being in-controlled by your emotion which is the very thing you have to avoid when you are investing or trading in crypto. So if you feel like you have a problem with this kind of stuff, you should have to fix your mindset first and learn to manage your emotion before you start trading.
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This is not the problem, but rather saying that trading is easy and everyone can earn thousands of dollars from it without a financial background or even knowledge of the basics of trading, and when it does not work, there are trading experts who can make thousands of dollars for you.
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This is good advice, because it often happens to those who are curious about the level of difficulty of trading to make a lot of money. We all don't realize that buying and selling activities look very easy for other people, but that doesn't necessarily mean it's easy for us either. Futures trading and spot trading still require skills to be able to gain a profit in every activity. I myself have been a person who hastily made decisions and it took away my wealth in an instant. From there I began to realize that skills are still needed to be able to make a profit when trading is our focus.
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This is not the problem, but rather saying that trading is easy and everyone can earn thousands of dollars from it without a financial background or even knowledge of the basics of trading, and when it does not work, there are trading experts who can make thousands of dollars for you.
That's true , most time alot of people will just belike you buy when the price is low and sell when the price is high as easy like that, without telling The individual the risk attached in trading expecially as an individual with no proper knowledge about it , such misleading as lead alot of people to the state of being rekt.
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Now and days alot of people have this mindset that trading is get rich quick scheme, which shouldn't be like that . I have seen alot of cases where newbies or individual with half-size knowledge about this space jumping into trading without any proper knowledge, some even go further starting with future trading, with the sole aim to make alot of profit fast .which is actually wrong , because you may endup making countless losses with such move.
I feel it's partly the mistake of newbies because the other half is influenced by these so-called influencers and whoever posts their success story over social media or through edited videos on YouTube or other channels where these newbies watch and see them and start building dreams in their minds because they start feeling like they can also achieve the same results shown by those people over the internet.
That being said, it's true that someone who is newly getting into the market should first do their best to gain as much knowledge as they can about everything including the market, essential trading practices, best cryptocurrencies that they will trade, and risk-management techniques.
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Now and days alot of people have this mindset that trading is get rich quick scheme, which shouldn't be like that . I have seen alot of cases where newbies or individual with half-size knowledge about this space jumping into trading without any proper knowledge, some even go further starting with future trading, with the sole aim to make alot of profit fast .which is actually wrong , because you may endup making countless losses with such move .
I remember myself back when I was starting to learn how to trade. I thought at that time that you can get easy money with trading. Of course, I'm a newbie at that time, and I don't know that much about trading and crypto as well. As I learn everything that's related to trading, I realized that it wasn't. It wasn't a rich-quick scheme, and getting rich with trading isn't impossible, but has a low chance to happen.
Like what OP said, having more knowledge will help you in trading, but it isn't an assurance that you will be a successful in trading. There are still many things that you need to learn in order for you to become a successful trader.
so if you don't have good knowledge about trading please focus more on spot trading instead, because as time goes on your trading skills would increased with minimise risk .
Well, if you want to gain experience, spot trading is the way especially if you're a newbie. I don't recommend futures trading to newbie traders out there because you might get traumatized because of your money getting liquidated in an instant. :D
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Without knowledge both are risky whether its spot trading or future trading therefore focus first on Knowledge instead of earning. In future and spot trading you have to think wisely as random decisions and random selection can decreases your money.
If someone wants to be profitable then spot trading should be the starting point and for it knowledge is must and at start you must need a person that is expert in trading because for guidance. Also it is necessary that don't put step with huge money but you are newbie and you will more likely loss it so be careful and don't rush towards quick success.
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so if you don't have good knowledge about trading please focus more on spot trading instead, because as time goes on your trading skills would increased with minimise risk . And also no matter the dip , aslong the coin you trading is well known and nice , it would surely recover from that dip and you may endup with good profit if you are patient enough. But if it was future trading, the dip may endup triggering your liquidation and your trading cash may endup liquidated.
I have never consider future trading as means of making money, I see it as a gambling format and we all know what gambling is all about, it's a 50/50 outcome. If you want to trade, I will not even advice you to use leverage because no matter how careful you are with the set up, even with a 5x leverage can liqiodate your entire money unless you set it to isolated margin.
What every trader must learn is patience, no matter how expert you are in trading, if you don't have trading patience, you would lose because you will close your position when you are supposed to be holding and you will buy when you are supposed to be selling. If you have patience, trading will be like a normal activity for you because your loss will be minimal.
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Without knowledge both are risky whether its spot trading or future trading therefore focus first on Knowledge instead of earning. In future and spot trading you have to think wisely as random decisions and random selection can decreases your money.
If someone wants to be profitable then spot trading should be the starting point and for it knowledge is must and at start you must need a person that is expert in trading because for guidance. Also it is necessary that don't put step with huge money but you are newbie and you will more likely loss it so be careful and don't rush towards quick success.
Yeah, without any proper knowledge both spot trading and future trading are risky, I remember back then when was still new in trading , any slight drop in prices in market I will quickly sell thinking am helping myself by cutting losses . I did it for some time , till I realised that with just making little losses constantly, due to cutting losses I endup losing a huge potion of my trading funds without even knowing in my spot trading. That's why having a good Risk management is very important it would help in minimising your losses and we all know that less losses = more wins = more profit .
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I have never consider future trading as means of making money, I see it as a gambling format and we all know what gambling is all about, it's a 50/50 outcome. If you want to trade, I will not even advice you to use leverage because no matter how careful you are with the set up, even with a 5x leverage can liqiodate your entire money unless you set it to isolated margin.
In gambling, a game of 50:50 chance does not have winning chance of 50:50 because of house edge or the low odds. But do not let me divert more because this is about leveraging and not gambling. Using 1x leverage or lower than 1x is good and not that risky more than spot trading for good traders. But some people will be tempted to use more leverage and this is the reason leveraging is very risky. But if not going more than 1x or lower leverage, it will be good than using high leverage.
What every trader must learn is patience, no matter how expert you are in trading, if you don't have trading patience, you would lose because you will close your position when you are supposed to be holding and you will buy when you are supposed to be selling. If you have patience, trading will be like a normal activity for you because your loss will be minimal.
This is correct. The more a trader is not patient, the more the chances that the trader will trade and lose. And each losses will make the trader to become more impatient.
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I still believe the saying that A patient dog eat the fattest bone. If it doesn't the it's waiting for the wrong owner or not patient enough. Bitcoin, Ethereum among others are proof that holding is a steady way to accumulate profit. Yes been skilled in trading helps but do the analyst control the market? No.
I believe a skilled trader is not really one who can read chart and speculate the direction of a coin but one who can manage their risk as well their losses.
Rather than rushing, build a foundation. The stronger the foundation the higher the building can get.
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Now and days alot of people have this mindset that trading is get rich quick scheme, which shouldn't be like that . I have seen alot of cases where newbies or individual with half-size knowledge about this space jumping into trading without any proper knowledge,
Yes, indeed, we often encounter incidents like this or read about them or get them from various media that report them. In fact, we might also find people around us who have lost a lot of money from crypto trading. One of the main reasons is because their mindset indirectly expects them to become instantly rich from crypto trading.
The problem is that when we have high hopes, even though we are not really capable of carrying out the bet, it will actually backfire on us. Because we cannot balance our expectations and the reality of our abilities. Which ultimately makes us very depressed, stressed and frustrated with the reality of our trading results. Because in fact, trading is something that carries a very high risk, it may be able to give us profits, various profits, but it is not a way to get rich quickly and instantly.
so if you don't have good knowledge about trading please focus more on spot trading instead, because as time goes on your trading skills would increased with minimise risk .
I very much agree with you. One of the basic and very important things is having good knowledge before deciding to trade. So, this knowledge can later provide us with provisions to consider and decide what we will do during trading. This is very powerful. Of course there are other factors related to risk management, emotions and also funds. But basically, knowledge about cryptocurrency and trading is very important to have first.
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so if you don't have good knowledge about trading please focus more on spot trading instead, because as time goes on your trading skills would increased with minimise risk . And also no matter the dip , aslong the coin you trading is well known and nice , it would surely recover from that dip and you may endup with good profit if you are patient enough. But if it was future trading, the dip may endup triggering your liquidation and your trading cash may endup liquidated.
No dude if a person don't have proper knowledge about the trading then he should avoid investing on trading, spot trading can also be dangerous for a person if he don't have any knowledge about trading. I have also faced loss in the beginning when I Invested on spot trading on token for taking some profit. I brought up SLP coin on 0.12$ and some under 0.08$ and now it below 0.0052$.
I would like to say beginner what hope much at the starting in a short period. So if you have not knowledge about trading then you should adopt long-term strategy with bitcoin by following DCA method.
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Now and days alot of people have this mindset that trading is get rich quick scheme, which shouldn't be like that . I have seen alot of cases where newbies or individual with half-size knowledge about this space jumping into trading without any proper knowledge, some even go further starting with future trading, with the sole aim to make alot of profit fast .which is actually wrong , because you may endup making countless losses with such move .
so if you don't have good knowledge about trading please focus more on spot trading instead, because as time goes on your trading skills would increased with minimise risk . And also no matter the dip , aslong the coin you trading is well known and nice , it would surely recover from that dip and you may endup with good profit if you are patient enough. But if it was future trading, the dip may endup triggering your liquidation and your trading cash may endup liquidated.
So true. Being rushed will only harm us. especially if we are in a rush to choose coins for investment. Sometimes we just suffer from excessive FOMO and end up buying new tokens without any prior analysis. Yes, because we are in a hurry, we are in a rush. Therefore, we must really understand how to analyze first, manage emotions and also panic. so we can be more careful and wiser when selecting the coins to invest.
following any hype coins with FOMO condition will give quite bad impact. For, we may not analyze it well, we are only in hurry or rush to invest in it as soon as possible because being afraid of left being. Actually, we really must avoid this condition. and try our best to do the analyzing and research before investing.
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Now and days alot of people have this mindset that trading is get rich quick scheme, which shouldn't be like that . I have seen alot of cases where newbies or individual with half-size knowledge about this space jumping into trading without any proper knowledge, some even go further starting with future trading, with the sole aim to make alot of profit fast .which is actually wrong , because you may endup making countless losses with such move .
so if you don't have good knowledge about trading please focus more on spot trading instead, because as time goes on your trading skills would increased with minimise risk . And also no matter the dip , aslong the coin you trading is well known and nice , it would surely recover from that dip and you may endup with good profit if you are patient enough. But if it was future trading, the dip may endup triggering your liquidation and your trading cash may endup liquidated.
We know that such a mindset in trading is wrong. The more they think about getting rich quickly, the longer it will take for the things they think about to happen. Getting rich is something you work hard for, and it requires spending time and overcoming the struggles that can be faced to succeed in life.
So if you want to succeed in trading, a lot of hard work must be spent on that matter, and there are certain characteristics that a newbie entering trading must have to succeed, and that is what one must know.
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so if you don't have good knowledge about trading please focus more on spot trading instead, because as time goes on your trading skills would increased with minimise risk . And also no matter the dip , aslong the coin you trading is well known and nice , it would surely recover from that dip and you may endup with good profit if you are patient enough. But if it was future trading, the dip may endup triggering your liquidation and your trading cash may endup liquidated.
No dude if a person don't have proper knowledge about the trading then he should avoid investing on trading, spot trading can also be dangerous for a person if he don't have any knowledge about trading. I have also faced loss in the beginning when I Invested on spot trading on token for taking some profit. I brought up SLP coin on 0.12$ and some under 0.08$ and now it below 0.0052$.
I would like to say beginner what hope much at the starting in a short period. So if you have not knowledge about trading then you should adopt long-term strategy with bitcoin by following DCA method.
Both spot trading and future trading have risks, but the difference is that spot trading has less risk in my opinion. Knowledge will always be needed in spot trading and futures trading.
We cannot just enter cryptocurrencies without knowledge. It's nothing new to see someone fail in their spot trades. Don't assume we don't have risks here.
If we have thoughts like that then it will be dangerous for ourselves.
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Now and days alot of people have this mindset that trading is get rich quick scheme, which shouldn't be like that . I have seen alot of cases where newbies or individual with half-size knowledge about this space jumping into trading without any proper knowledge, some even go further starting with future trading, with the sole aim to make alot of profit fast .which is actually wrong , because you may endup making countless losses with such move .
Looking at the way things are turning and changing fast in the world that we live in, we can't really blame people who are eager or seem to be in a rush to make money, even from things they have no prior knowledge of, inflation is dealing with a lot of people, taking people who were once rich back to poverty levels again.
So, it's quite justifiable why it seems like a lot of people are trying to start making profit over night from things they are just starting out, or getting into, like crypto trading and so on, forgetting that it takes time and process before one is knowledgeable enough to guarantee them some level of profit when ever they enter the market.
I completely agree with you @op, trading is not for learners, and the worst thing a newbie can do is get into futures trading without first spending time to learn how to trade futures, even the future market environment is confusing as hell on most exchanges, and this is why In order not to make any mistakes that could lead to irreparable loses, a trader going into futures trading must spend alot of time, minimum of at least 6 months learning, knowledge they say is power, and without knowledge, one ls completely powerless against the futures market, a learner should limit their trading activities to the spot market alone, until they gain enough knowledge and confidence to try the futures market.
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Yeah, without any proper knowledge both spot trading and future trading are risky, I remember back then when was still new in trading , any slight drop in prices in market I will quickly sell thinking am helping myself by cutting losses . I did it for some time , till I realised that with just making little losses constantly, due to cutting losses I endup losing a huge potion of my trading funds without even knowing in my spot trading. That's why having a good Risk management is very important it would help in minimising your losses and we all know that less losses = more wins = more profit .
Due to such fear people loss money little by little and they think that they have avoid losses but I think if you hold coin for longer then you will not be in fear of loss and will find a time to sell your coin. Trader does not realize their mistakes at start and when they face huge loss them they start to regret but I think instead of regret in future learn well to not feel sorry for your decisions.
If you know that your losses are more and win are less then stop there for some time because if you does not work to eliminate the faults then it will become more risky and at the end you will have no money to put in trading to recover your lost sum.
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some even go further starting with future trading, with the sole aim to make alot of profit fast .which is actually wrong , because you may endup making countless losses with such move .
Well said, I just have a good example to get useful lessons of how risky future trading is, especially for the newbies. As in the given thread by me, that person was an expert as he had years of experience and still, he lost all of his funds overnight. So keep in mind that if you can make good money overnight you can lose it all too. Be aware of the volatility and don't take it easy. (This is How Risky it is to trade futures - over $1, 148, 000 Lost in one night (https://www.altcoinstalks.com/index.php?topic=320403.msg1539579#msg1539579))
But if it was future trading, the dip may endup triggering your liquidation and your trading cash may endup liquidated.
Indeed, losing it all is better than making less money. I suggest even if you want to do future, don't use your main money that could affect your life activities, only use which you aren't afraid of losing. But overall I suggest not doing future trading with everyone. Because it's risky and almost near to gambling in unpredictable market situations.
Future is not for newbies, spot is way better than future if you know how to utilize spot, you wait for the right time to enter and to exit as well this patience increase your control on your emotions.
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So if you want to succeed in trading, a lot of hard work must be spent on that matter, and there are certain characteristics that a newbie entering trading must have to succeed, and that is what one must know.
But do you also know that some people will work hard but trading will continue to take more money from them. Trading can not be for everyone. Some people supposed to have been very rich but trading make them not rich and affecting them financially. The road to success for some people is just to be patient. Trading itself means someone is not patient. Holders are the patient people.
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Trading is not a get rich quick scheme. Trading can even be a get poorer scheme for any body who doesn't have the knowledge of trading and just jump straight up into trading. Even those who have years of experience in trading usually experience losses and sometimes their loss is usually significant. So, if experienced traders can face losses, that means newbies will even loss more than those who more experienced than them. Trading is not something that anyone should forcefully rush into without first learning how to trade.
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Now and days alot of people have this mindset that trading is get rich quick scheme, which shouldn't be like that . I have seen alot of cases where newbies or individual with half-size knowledge about this space jumping into trading without any proper knowledge, some even go further starting with future trading, with the sole aim to make alot of profit fast .which is actually wrong , because you may endup making countless losses with such move .
so if you don't have good knowledge about trading please focus more on spot trading instead, because as time goes on your trading skills would increased with minimise risk . And also no matter the dip , aslong the coin you trading is well known and nice , it would surely recover from that dip and you may endup with good profit if you are patient enough. But if it was future trading, the dip may endup triggering your liquidation and your trading cash may endup liquidated.
Fear and Impatience contribute to this why some new traders sometimes either win little or fail in trades. Some would think maybe of I try this out with the opportunity market is giving lately, I might hit the jackpot. And if you check 20% of newbies they fall on this category. They feel they might be missing out winning it using Demo.
At least is good to know there's something like Dual Investment. With a low risk implemented in it, I think the majority of newbies could be more focused on using a demo to learn how to trade
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Trading is not a get rich quick scheme. Trading can even be a get poorer scheme for any body who doesn't have the knowledge of trading and just jump straight up into trading. Even those who have years of experience in trading usually experience losses and sometimes their loss is usually significant. So, if experienced traders can face losses, that means newbies will even loss more than those who more experienced than them. Trading is not something that anyone should forcefully rush into without first learning how to trade.
I think trading should be considered as a course, just like other programming courses that we have. It certainly requires a step-by-step approach to mastering all the fundamentals that might be necessary. Due to greed and ignorance, newcomers choose to skip these fundamentals, or sometimes take a few lessons before jumping into it. They fail to realize that the activities of the market are far beyond their level, which would certainly put their investment at risk. There are other ways to make money, for which trading should not be an option for those with less interest. If someone happens to have interest, then he/she needs to follow the right path by learning what's needed.
Learning sometimes might not be enough, because even those with greater knowledge make losses, just as you've stated. The ability to control one's emotions and keep pushing might have a great say in how long someone would last in the trading sector. How well a new trader reacts to negative results matters a lot. Life is never a win-win situation.
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some even go further starting with future trading, with the sole aim to make alot of profit fast .which is actually wrong , because you may endup making countless losses with such move .
A new trader who is learning under someone who trades futures and fails to inform this new trader that futures is not for beginners may find themself being tempted to start trading futures first. And because of the many losses that these new trader will record in the market they may become discouraged and may decide to quit their trading. New traders should first try to master spot trading before advancing to futures, milk to bone! not the other way around.
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some even go further starting with future trading, with the sole aim to make alot of profit fast .which is actually wrong , because you may endup making countless losses with such move .
A new trader who is learning under someone who trades futures and fails to inform this new trader that futures is not for beginners may find themself being tempted to start trading futures first. And because of the many losses that these new trader will record in the market they may become discouraged and may decide to quit their trading. New traders should first try to master spot trading before advancing to futures, milk to bone! not the other way around.
Exactly, trading is one of the beautiful means in earning in this cryptocurrencies space . But can still be other for individual to lose their hard earned money if it being approached wrongly. Though trading is not actually easy one need to be determined and consistent with it inorder to be successful in trading, but most people normally approach it wrongly with the sole aim of wanting to make quick money which may lead to making rash decisions that may lead them losing it all. So is better to take your time learn while you earn , because small profits with minimise losses is better than big profit and uncontrollable losses.
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To be fair, while you could take your time, you should also be careful with what you are doing as well. I personally believe that the best thing to do right now would be just making sure that you are not too slow as well. I understand that while you could prefer not being too quick, because if you rush into trading and make a wrong trade that would be a mistake as well, but you also can't take your time forever and not make any trades neither, because you would miss your chance in that situation as well. This is why I believe that you should be careful, find that right balance and you will do fine.
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Trading is not a get rich quick scheme. Trading can even be a get poorer scheme for any body who doesn't have the knowledge of trading and just jump straight up into trading. Even those who have years of experience in trading usually experience losses and sometimes their loss is usually significant. So, if experienced traders can face losses, that means newbies will even loss more than those who more experienced than them. Trading is not something that anyone should forcefully rush into without first learning how to trade.
If someone does not understand such facts then he should not start trading because such people cannot get victory in trading who want to become millionaires in a day.
A complete way of accepting strategies is needed to become a successful traders like first of all you will learn about trading, it's harmful effect and solutions for it, then try to get knowledge about how to choose coin for trading and which qualities of coin should be preferred, then initiate with little amount and if unfortunately you don't win in getting profit then don't chase it but try to get the reason of losing and stop trading for some time to start again with more knowledge.
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To be fair, while you could take your time, you should also be careful with what you are doing as well. I personally believe that the best thing to do right now would be just making sure that you are not too slow as well. I understand that while you could prefer not being too quick, because if you rush into trading and make a wrong trade that would be a mistake as well, but you also can't take your time forever and not make any trades neither, because you would miss your chance in that situation as well. This is why I believe that you should be careful, find that right balance and you will do fine.
That's right, it's better for us to wait until a bear market occurs because if we enter at a cryptocurrency price that is having a fairly high price increase, it will have the potential to get us trapped at high prices.
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Being in accordance with the timing of trading as well as a detailed analysis of the actual purchase of one of the coins is necessary for the time to come. Watching the profits unfold in the long run is literally good thinking, there's nothing wrong with that.
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Well trading requires knowledge and skill. At first it is important to acquire knowledge. Some newbie tràders jump into trading without any prior knowledge. The main purpose is to get rich quickly. Seeing others some even go for futures tràding, they end up losing all their funds eventually. So one should not rush into trading.
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You know there is no need to rush things especially if you are entering the crypto trading business industry. Because it is a combination of our mind and determination.
It's not an easy lesson, but if you're serious about it, there are things you'll face that can be a challenge for anyone and it can also be not and it depends on the individual to study it well and correctly.
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This is the most common mistake of traders that trading is a plan to get rich quick, due to some few cases that happened by chance to some traders through a coin rising tens of times.
This does not happen constantly, and trading is not just a stroke of luck. It requires learning, knowledge, a lot of work and patience, especially futures trading, which requires great knowledge and has high risks.
I always advise beginners to learn demo trading, then start with a little capital in spot trading and avoid future trading as much as possible.
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Well trading requires knowledge and skill. At first it is important to acquire knowledge. Some newbie tràders jump into trading without any prior knowledge. The main purpose is to get rich quickly. Seeing others some even go for futures tràding, they end up losing all their funds eventually. So one should not rush into trading.
Newbies and new traders getting into futures trading has become the new norm. The reason behind that is simple, they see people over the internet sharing their success stories earning a lot of money through futures trading and when newbies see these stories, they start building skyscrapers in the air, thinking they can achieve the same level of success but they don't understand everything they need to.
People sharing their success stories mostly forget to warn others about the risks involved which is the reason why newbies think it is easy to earn money from trading and specifically from futures trading since it tends to have the potential to provide greater profit in less time.
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Newbies and new traders getting into futures trading has become the new norm. The reason behind that is simple, they see people over the internet sharing their success stories earning a lot of money through futures trading and when newbies see these stories, they start building skyscrapers in the air, thinking they can achieve the same level of success but they don't understand everything they need to.
People sharing their success stories mostly forget to warn others about the risks involved which is the reason why newbies think it is easy to earn money from trading and specifically from futures trading since it tends to have the potential to provide greater profit in less time.
That's right and it's a fact... only 1 in 100 people share their tricks for optimal futures trading. some of them simply share their success stories in the hope of perhaps attracting the attention of others. You also need to know that careful calculations are needed in order to get high profits as shared by many people on social media.
Long and short positions look simple, but determining leverage and entry time greatly influences the results. There are even several other analyzes that make it complicated. Even a professional has had his assets liquidated due to a miscalculation.
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That's right and it's a fact... only 1 in 100 people share their tricks for optimal futures trading. some of them simply share their success stories in the hope of perhaps attracting the attention of others. You also need to know that careful calculations are needed in order to get high profits as shared by many people on social media.
Long and short positions look simple, but determining leverage and entry time greatly influences the results. There are even several other analyzes that make it complicated. Even a professional has had his assets liquidated due to a miscalculation.
Honestly, there are no tricks in trading all strategies can be found on Youtube just don't follow those fake gurus because most of the fake gurus guide you in the wrong way to trade.
In my experience every strategies that I found in youtube I applied them all and most of them do not work in crypto trading the only works for me is the basic method finding support and resistance and checking the trend from high time frame which result in a good profit.
For futures even if you have a risk management of 1% to 3% for every trade take note also of those who seek or who hunt stop-loss because I noticed this in my trading experience recently if I am not confident to the position that I made I set a stop loss of around 1% but before the price goes to my prediction it will hit the stop-loss first before it continue to the price you predicted to based in your analysis.
And yes about the leverage you need to calculate this also be careful on cross because it can take your entire account liquidated I learn from many mistakes and now I switch to isolated because I am now confident on my analysis that is why I stop using the 1% management risk you should have another way to manage this risk is by going to isolated it is way better now on my analysis for almost 2 months of straight trading daily intraday is one of the difficult way to make a profit daily.
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You are ansolutely right. Trading requires patience, knowledge, and risk management - not a get-rich-quick mindset. Start with spot trading and build skills gradually. Leveraging is more risky and requires high level skills most time. I started leverage with Bitget copy trading which I still use at times.
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This is the most common mistake of traders that trading is a plan to get rich quick, due to some few cases that happened by chance to some traders through a coin rising tens of times.
This does not happen constantly, and trading is not just a stroke of luck. It requires learning, knowledge, a lot of work and patience, especially futures trading, which requires great knowledge and has high risks.
I always advise beginners to learn demo trading, then start with a little capital in spot trading and avoid future trading as much as possible.
Trading is not about making us rich in a short time, in fact trading if done in the wrong way will cause us to experience financial problems in the end.
Actually, there is no way that we can get rich quickly, so I am a little surprised when there are people who think that by trading they will be able to get rich in a short time.
Trading is not as easy as it seems, we are required to have in-depth knowledge about what we are doing, in this case trading.,
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You are ansolutely right. Trading requires patience, knowledge, and risk management - not a get-rich-quick mindset. Start with spot trading and build skills gradually. Leveraging is more risky and requires high level skills most time. I started leverage with Bitget copy trading which I still use at times.
I hope that all traders can be aware of the risks in the crypto market, especially with Future, and be willing to get rich slowly. Rushing into trading without enough knowledge and experience often leads to losses and leaves traders with no chance to rectify their mistakes when they no longer have the capital to continue trading.
Capital and psychology management + placing stop-loss orders + continuously improving trading skills + learning market are things that traders will need to do throughout their trading career. The crypto market is not a casino for gamblers to seek luck. Trading is a profession that requires knowledge and artistry!
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You are ansolutely right. Trading requires patience, knowledge, and risk management - not a get-rich-quick mindset. Start with spot trading and build skills gradually. Leveraging is more risky and requires high level skills most time. I started leverage with Bitget copy trading which I still use at times.
Trading is not a 100 meter race where the faster you run the better your chances of winning. Trading is about buying and selling the right coins at the right time with the right amount of patience and maximum financial risk. Now I started trading and by starting trading I thought that I will get rich quickly in a short period of time but we focused on trading with a wrong plan. If we can trade with right strategy and right method then surely we will get profit only there is no need to lose our money by trading in wrong way in haste. Every new trader needs to study enough about the business first and also have the skills to trade in the right coin, sell it at the right time and buy it at the right time only then he can get success from trading.
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Once it enters the mind of a trader in this field that they can get rich trading in a short period of time, it is clear that they are in the wrong mindset as a trader in the crypto space. There is a proper process that goes through here so that you get an understanding of trading.
It takes determination and the willingness to learn, no matter how hard it is, to achieve what is sought to be obtained here. Once you have knowledge, you will surely have the opportunity to read and analyze where the price of the coin you are holding may go. Just be patient.
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Trading is not about making us rich in a short time, in fact trading if done in the wrong way will cause us to experience financial problems in the end.
Actually, there is no way that we can get rich quickly, so I am a little surprised when there are people who think that by trading they will be able to get rich in a short time.
Trading is not as easy as it seems, we are required to have in-depth knowledge about what we are doing, in this case trading.,
This is the point which everyone cannot understand and rushes towards the success through trading but they don't know that trading is also very risky and as it gives you profit then it can also create negative situations through which you will lose.
We cannot get rich immediately and if we want immediate richness then for it we will not use our talent but we will use our greed which should be forbidden in every step of life. Sometimes traders learn after the first trade and they start to think that trading is quick rich technology but during every trade it does not happen.
Trading is not easy but is assumed to be an easy field by most of the people as one has not worked hard for it and due to this wrong concept they also do not give time to learning and lose everything due to the carelessness.
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Trading is not about making us rich in a short time, in fact trading if done in the wrong way will cause us to experience financial problems in the end.
Actually, there is no way that we can get rich quickly, so I am a little surprised when there are people who think that by trading they will be able to get rich in a short time.
Trading is not as easy as it seems, we are required to have in-depth knowledge about what we are doing, in this case trading.,
This is the point which everyone cannot understand and rushes towards the success through trading but they don't know that trading is also very risky and as it gives you profit then it can also create negative situations through which you will lose.
We cannot get rich immediately and if we want immediate richness then for it we will not use our talent but we will use our greed which should be forbidden in every step of life. Sometimes traders learn after the first trade and they start to think that trading is quick rich technology but during every trade it does not happen.
Trading is not easy but is assumed to be an easy field by most of the people as one has not worked hard for it and due to this wrong concept they also do not give time to learning and lose everything due to the carelessness.
Well, maybe that's what differentiates trading from other jobs. We may just sit quietly while looking at the monitor, but our brains will work hard to be able to analyze the market well.
This is not just a job description that we already know what we have to do, but this is something that requires us to be able to predict what will happen in the future with the market movements we are seeing. And there are also many factors that we have to study, which factors can influence price movements.
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You are ansolutely right. Trading requires patience, knowledge, and risk management - not a get-rich-quick mindset. Start with spot trading and build skills gradually. Leveraging is more risky and requires high level skills most time. I started leverage with Bitget copy trading which I still use at times.
Trading requires being able to control your patience and of course you have to be able to manage your finances and still understand the risks involved, because we don't know whether in the future the money we use for trading will still be there or not. I prefer to do traditional trading rather than having to do leverage trading like you do because the risk is too big for a new trader like me.
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Trading requires being able to control your patience and of course you have to be able to manage your finances and still understand the risks involved, because we don't know whether in the future the money we use for trading will still be there or not. I prefer to do traditional trading rather than having to do leverage trading like you do because the risk is too big for a new trader like me.
You forget that luck also plays a big role in making your trading always win. We can indeed learn some knowledge about trading such as technical analysis, fundamentals and so on, but if you are lucky then you will win... Meanwhile, if you are unlucky, you may lose or only win a small amount. .
Learning or knowledge does increase our chances of winning, so we still can't depend on luck alone. unless you gamble on it.
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Well, maybe that's what differentiates trading from other jobs. We may just sit quietly while looking at the monitor, but our brains will work hard to be able to analyze the market well.
This is not just a job description that we already know what we have to do, but this is something that requires us to be able to predict what will happen in the future with the market movements we are seeing. And there are also many factors that we have to study, which factors can influence price movements.
Jobs and trading are very much different from each other because in trading we may lose but in a job we will get salary either we work less or more because regular jobs will give us regular payment. In trading we must focus on the market price and if we are not feeling well then we will not be able to analyze the market hence we will be unable to earn.
In trading you will be engaged in earning as well as learning while in case of a job you learn once and then utilize the same strategies for earning until you are doing a job but in trading you will use different strategies because the crypto market does not maintain its single statue all the time.
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Well, maybe that's what differentiates trading from other jobs. We may just sit quietly while looking at the monitor, but our brains will work hard to be able to analyze the market well.
This is not just a job description that we already know what we have to do, but this is something that requires us to be able to predict what will happen in the future with the market movements we are seeing. And there are also many factors that we have to study, which factors can influence price movements.
Jobs and trading are very much different from each other because in trading we may lose but in a job we will get salary either we work less or more because regular jobs will give us regular payment. In trading we must focus on the market price and if we are not feeling well then we will not be able to analyze the market hence we will be unable to earn.
In trading you will be engaged in earning as well as learning while in case of a job you learn once and then utilize the same strategies for earning until you are doing a job but in trading you will use different strategies because the crypto market does not maintain its single statue all the time.
Yes, you are right, work is a certain thing, because every month we will definitely get a salary that has been determined based on the work we do. We don't have to worry about what we should do next, because the job description has become our daily activity.
However, trading depends on ourselves, whether we will win or lose depends on our analysis of the market. But the difference is that our time will probably be more flexible than a real job.
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Now and days alot of people have this mindset that trading is get rich quick scheme, which shouldn't be like that . I have seen alot of cases where newbies or individual with half-size knowledge about this space jumping into trading without any proper knowledge, some even go further starting with future trading, with the sole aim to make alot of profit fast .which is actually wrong , because you may endup making countless losses with such move .
so if you don't have good knowledge about trading please focus more on spot trading instead, because as time goes on your trading skills would increased with minimise risk . And also no matter the dip , aslong the coin you trading is well known and nice , it would surely recover from that dip and you may endup with good profit if you are patient enough. But if it was future trading, the dip may endup triggering your liquidation and your trading cash may endup liquidated.
There are many here and I have seen many people who jump into trading with little knowledge not only do they jump into spot trading they also go ahead with futures trading. They think that trading is a means of making quick money. They find trading very easy and participate in futures trading platforms as a result of which they lose their money very quickly and return home penniless. Everything the OP says here is correct. I never consider this trading platform as a way to make money fast I always think it is very difficult to make money from trading platform. Also I will never join any futures trading platform for trading because I find futures trading platforms very scary. I always feel that the futures trading platform can swallow my money anytime. Even though I have incurred many losses in spot trading, I hope to recover.
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However, trading depends on ourselves, whether we will win or lose depends on our analysis of the market. But the difference is that our time will probably be more flexible than a real job.
And also depends on how the strategy used and their mentality in trading.
Sometimes people who are new to the world of trading are confident at the beginning, but when they encounter some difficulties and it turns out that the price prediction is not what they want, their psychology will slowly be quite disturbed, and they will be more likely to panic when the price continues to fall.
Work as a trader is indeed more flexible and can be done anytime and anywhere, but related to the risk this will depend on how everyone learns it.