Altcoins Talks - Cryptocurrency Forum
Learning & News => For Beginners => Basic Questions about Cryptos => Topic started by: jeraldskie11 on January 20, 2024, 02:42:19 PM
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A lot of traders won't recommend trading if you're a newbie because the risk is so high. Maybe they can say that because they experienced it.
I see a lot of posts replies that discourage trading.
I just want to clarify that all profitable traders start from newbie and I believe that they also experience loses.
My only advice for newbie traders is back test your strategy very well and always follow your trading plan. Avoid the market if you can't see any setup that suit your criteria. Be a disciplined person because this is what you really need if you feel like your emotion is trying to control you.
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Practice makes perfect, and have a discipline .Start with a demo account. I know there are a lot of views about demo accounts, but that is a good start if you don't want to deposit money and lose it afterwards. You just need to be disciplined to think that the demo account is real. Always backtest your strategy and also do it on live trade, sometimes even just imagining your entry. I went from a demo account to depositing minimum money on a trading platform just to test the waters until I got comfortable.
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A lot of traders won't recommend trading if you're a newbie because the risk is so high. Maybe they can say that because they experienced it.
Yes, because newbies nowadays prefer to start trading even without enough knowledge about it. Experienced traders highly recommend that beginners should not rush into trading. It's important to gain knowledge and experience to make a profit. Some suggest trying demo trading which is similar to real trading, but you don't have to use your own money.
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A lot of traders won't recommend trading if you're a newbie because the risk is so high. Maybe they can say that because they experienced it.
Yes, because newbies nowadays prefer to start trading even without enough knowledge about it. Experienced traders highly recommend that beginners should not rush into trading. It's important to gain knowledge and experience to make a profit. Some suggest trying demo trading which is similar to real trading, but you don't have to use your own money.
Agree with you in some point. We can get knowledge about trading even if we are just newbies and we have to be newbie to become expert. Having knowledge in trading is not enough, we have to apply it and do actual trades in market to determine our mistakes since we employ emotions in live trading. In your first couple of trades in live account, margin only with a small funds so that it won't hurt you that much if you lose until you become ready for the real trades.
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I'm not into trading but I once had a conversation with a trader and sent some e-books and some sites where I can learn the basics of trading, after seeing the many pieces of jargon and the amount of time I should dedicate to trading and applying it to my present situation with an 8 to 5 job I just realized that trading is not for me, I prefer to do research and invest on coins with potential and just HODL
Trading are for those who had the time and the dedication to become a trader something that I don't have right now.
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My only advice for newbie traders is back test your strategy very well and always follow your trading plan. Avoid the market if you can't see any setup that suit your criteria. Be a disciplined person because this is what you really need if you feel like your emotion is trying to control you.
You don't have to be an expert to start trading, how can you reach to the level of 100 if you will not start from the level 1, step by step and level by level, one person can become an expert traders, neither expert traders become expert in the first step they were also newbies ones. If you as a newbie facing discouragement from experts to stop trading.
Then don't listen to them, instead listen to yourself, because self-confidence is the key in trading, take it as the first hurdle and if you will overcome this hurdle which has great impact on your emotions, then take it as a win at the first level. Emotions plays important role, if you will give great importance to every statement then you will end up losing all of your portfolio. Always trust yourself and follow your instincts.
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We will only become experts in trading when we have really lived it, knowing the pluses and minuses, evaluating, analyzing, and also having experience that can be said to be quite professional. whereas when we start trading we don't need to be experts at the start because we will learn to get there. in this case not to be an expert. But we are more prepared for trading and this readiness includes readiness for knowledge and knowledge about trading, mental preparation, emotions and also our readiness to manage the financial experiences we experience. As long as we really prepare well and are not at all zero-preparation then this is actually a wise step to start trading.
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A lot of traders won't recommend trading if you're a newbie because the risk is so high. Maybe they can say that because they experienced it.
I see a lot of posts replies that discourage trading.
I just want to clarify that all profitable traders start from newbie and I believe that they also experience loses.
It is up to you to accept or refuse the suggestion from expert/experienced traders.
I'm sure they only suggest to focus on learning first before deciding to trade. They mustn't try to prohibit someone to be a trader. Why?
Sure, experienced traders must begin their career from a newbie, they don't suddenly be a professional trader. But it requires time and efforts, it is impossible to be a professional/experienced trader in a short time.
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I believe in taking risk because without taking risk you can't gain anything but for something as complex as trading especially forex trading it not worth the risk if you are a newbie and especially if you do not have a steady source of income and no experience.
As a newbie who want to venture into the world of trading especially forex trading I believe buying courses from accomplished traders will be most helpful because their insight and experience will help you to avoid some certain danger that you will most likely fall victim to when you are a newbie with no experience.
Also seeking mentorship from accomplished traders can also be helpful
In conclusion if you are a newbie that want to venture into the world of trading (forex trading) you have to be prepared for the loss, plan a strategy, seek experience and insight from accomplished traders, don't dive head first into trading without a plan and no experience, practice with a demo account to get the experience about trading
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I just want to clarify that all profitable traders start from newbie and I believe that they also experience loses.
My only advice for newbie traders is back test your strategy very well and always follow your trading plan. Avoid the market if you can't see any setup that suit your criteria. Be a disciplined person because this is what you really need if you feel like your emotion is trying to control you.
I also don't know why there are people here who are discouraging the newbies to trade.
If they want to trade, let them trade. Like what OP said, expert traders right now started as newbies as well, and there's no people who already are expert the first time they do it. It takes time, and capital of course in order to become an expert trader, but if you find a strategy that works for you then good.
Having a plan, learning the traits that you need to learn, learning how to read charts, and of course having a lot of money is the key to be a successful trader. I included having a lot of money because it's almost certain that you will lose money in your first tries if you're a newbie.
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I just want to clarify that all profitable traders start from newbie and I believe that they also experience loses.
My only advice for newbie traders is back test your strategy very well and always follow your trading plan. Avoid the market if you can't see any setup that suit your criteria. Be a disciplined person because this is what you really need if you feel like your emotion is trying to control you.
I also don't know why there are people here who are discouraging the newbies to trade.
If they want to trade, let them trade. Like what OP said, expert traders right now started as newbies as well, and there's no people who already are expert the first time they do it. It takes time, and capital of course in order to become an expert trader, but if you find a strategy that works for you then good.
You are missing the most important thing: what percentage of traders are profitable. You talk as if there is a good percentage of them that are profitable in the long term and nothing could be further from the truth. The percentage of traders who lose money is well over 90% depending on the type of trading and in cryptocurrencies I'm pretty sure it's closer to 100% than 90% due to their volatility.
Therefore, warning newbies is very sensible because the most normal thing is that they lose all their capital very quickly, sometimes even borrowing to trade because they have believed the marketing and covert advertising that there is about trading that makes many believe that it is a good way to make a living comfortably from home.
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A lot of traders won't recommend trading if you're a newbie because the risk is so high. Maybe they can say that because they experienced it.
I see a lot of posts replies that discourage trading.
I just want to clarify that all profitable traders start from newbie and I believe that they also experience loses.
My only advice for newbie traders is back test your strategy very well and always follow your trading plan. Avoid the market if you can't see any setup that suit your criteria. Be a disciplined person because this is what you really need if you feel like your emotion is trying to control you.
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When a trader starts trading he may not be very skilled at the beginning but slowly he understands the market and gets an idea on his own about where and where he needs to improve. If a businessman sticks to a particular business, he will surely gradually become proficient in that business. Even if a trader is not fully skilled before trading, he must have some idea about trading and then start trading. When a trader starts trading slowly with some ideas, he will already become much more proficient in trading. But those traders must keep trying to become proficient in trading. If traders keep trying, they will definitely become more proficient in trading than they were in the beginning.
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A lot of traders won't recommend trading if you're a newbie because the risk is so high. Maybe they can say that because they experienced it.
I see a lot of posts replies that discourage trading.
I just want to clarify that all profitable traders start from newbie and I believe that they also experience loses.
My only advice for newbie traders is back test your strategy very well and always follow your trading plan. Avoid the market if you can't see any setup that suit your criteria. Be a disciplined person because this is what you really need if you feel like your emotion is trying to control you.
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It is an absolute lie or myth, to believe that to start trading you need to be an expert, it is a coercive question, because experience begins with being a novice, right?
On the other...:idea:
- your trading plan
- disciplined person
- if you feel like your emotion is trying to control you.
These 3 things can be counterproductive if you do not know how to apply them well, it is not just knowing them, it is knowing how to apply them.
That it is a plan, it is really applied well, there is a plan or diversity of plans, it is the second thing, things will never go as you planned, if that were the case, we would not be here doubting that commerce is easy.
Discipline cannot be acquired at the exact moment in which you dedicate yourself to trading, that is a habit that has been going on for years, if you have never had it it will not appear just because you dedicate yourself to trading, so start practicing with things like For example, exercising, getting up early, writing to your loved ones every day, saving by not buying unnecessary things, etc. 8)
The other point, emotions, is like a car that you are accelerating at 200 km/h, you cannot stop it in a distance of 100 meters...
The point is, many want to get into trading because it is really easy, no one tells them no, but they are really prepared, then they fail at common things and say, trading is difficult, of course it is, but there are individuals who are primarily to blame.
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A lot of traders won't recommend trading if you're a newbie because the risk is so high. Maybe they can say that because they experienced it.
I see a lot of posts replies that discourage trading.
I just want to clarify that all profitable traders start from newbie and I believe that they also experience loses.
My only advice for newbie traders is back test your strategy very well and always follow your trading plan. Avoid the market if you can't see any setup that suit your criteria. Be a disciplined person because this is what you really need if you feel like your emotion is trying to control you.
You have to learn about trading gradually no one can learn everything at once or no one can trade after mastering it. First learn to analyze the market and then gain knowledge about each candle. But you must remember that you can never trade on emotion while trading. Those who traded on impulse suffered initially. Then never be too greedy in trading platform whenever you are too greedy you will lose in trading platform. Learn to be patient on the trading platform Without learning to be patient, you cannot succeed on the trading platform. You have to try your best to gain knowledge about trading and use your own strategy, no one will help you in trading, you have to learn everything on your own.
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It depends on what you call ‘expert’, what i am certain of is that trading needs skills and it is the fastest way for newbies to lose money. Storing your funds for the long term is an easier business, you only have to buy BTC and wait, you can pick the strategy that is best for you and implement it.
I would also not advice newbies to start immediately with trading, they should learn about the network and its market and get some knowledge of what they are getting into. However, that does not mean newbies should fall for scammers who call themselves ‘experts’ online and sell signals, if you give such people money, you are surely going to lose it.
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A lot of traders won't recommend trading if you're a newbie because the risk is so high. Maybe they can say that because they experienced it.
I see a lot of posts replies that discourage trading.
I just want to clarify that all profitable traders start from newbie and I believe that they also experience loses.
My only advice for newbie traders is back test your strategy very well and always follow your trading plan. Avoid the market if you can't see any setup that suit your criteria. Be a disciplined person because this is what you really need if you feel like your emotion is trying to control you.
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The advice has no intention to discourage newbies to do trading. They just need to understand that trading isn't as simple as the way they think like buying low and selling high. A lot of beginners have incorrect information about trading by others who have said that it's just an easy way to make a profit. Without knowing that trading requires enough knowledge and experience. If you lack any one of these, there's a chance that you will end up losing your capital or holding to your investment for a long period of time, making you a trader into a long-term holder.
Experienced traders often suggest that newcomers should refrain from trading. However, this does not imply that they should completely avoid it. What they imply is that beginners should invest their time and effort in learning and gaining experience. This may take a while, but it will be worthwhile once they embark on their trading journey.
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Experienced traders often suggest that newcomers should refrain from trading. However, this does not imply that they should completely avoid it. What they imply is that beginners should invest their time and effort in learning and gaining experience. This may take a while, but it will be worthwhile once they embark on their trading journey.
Yeah, I don't think any 'expert' is saying that a newbie should never start trading at all. Even outside of crypto, most newbie introductions to trading are related to managing emotions and being familiar with how the market works, using the money you can afford to lose regularly. That is not rocket science. As far as I can see, most new threads related to trading also ask stuff like trading indicators, trading bots, etc which is probably why some people get the impression that those tools are not helpful for traders unless they are experts. But if your definition of an expert is one who can make a profit regularly, it is impossible to become one without making any trade at all.
I see a lot of posts replies that discourage trading.
Which one? Maybe we can see what kind of posts led you to the conclusion on your thread title. I believe most advice shared on this forum is quite solid (unless you're reading posts from people who clearly never trade). Stuff like don't use a bot if you're not familiar with it, don't overcomplicate your indicators, don't take a loan for trading crypto, etc. But that's as far as they can help you. As long as you manage your risk properly, you should start trading if you want to make a living out of it. Not to mention managing emotion is also important, which is why you should not expect to become an 'expert' after a week of reading a chart on a monitor.
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A lot of traders won't recommend trading if you're a newbie because the risk is so high. Maybe they can say that because they experienced it.
Yes, because newbies nowadays prefer to start trading even without enough knowledge about it. Experienced traders highly recommend that beginners should not rush into trading. It's important to gain knowledge and experience to make a profit. Some suggest trying demo trading which is similar to real trading, but you don't have to use your own money.
Sometimes Experiences is the best teacher meaning we need to experienced losses at first before we learn to defend our funds in trading.
I am not saying we have to be careless in this terms but having it in difficult time will be easier when dificulties ends so why not try to trade even when you are newbie?
as long as you know your boundaries and your capacities to lose and earn.
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Experienced traders often suggest that newcomers should refrain from trading. However, this does not imply that they should completely avoid it. What they imply is that beginners should invest their time and effort in learning and gaining experience. This may take a while, but it will be worthwhile once they embark on their trading journey.
Yeah, I don't think any 'expert' is saying that a newbie should never start trading at all. Even outside of crypto, most newbie introductions to trading are related to managing emotions and being familiar with how the market works, using the money you can afford to lose regularly. That is not rocket science. As far as I can see, most new threads related to trading also ask stuff like trading indicators, trading bots, etc which is probably why some people get the impression that those tools are not helpful for traders unless they are experts. But if your definition of an expert is one who can make a profit regularly, it is impossible to become one without making any trade at all.
Right?! It's worth considering that if experienced traders are discouraging beginners from starting trading, then why do we have numerous tutorials and online courses on trading? It's definitely because those expert traders want to share their knowledge with newbies and help them become profitable. It's just that, newbie traders need to be cautious and follow the right steps to avoid any unexpected events that may occur while they are trading.
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Well said! people will motivate you, but you're the one to face the battle.
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We may not have to be an expert before we can start trading, all we needed is to be well informed of the expectations required from us to know or do while in trade and we follow the right procedures in doing them, also, we can do it in such a way to avoid taking much risk, starting by little and growing it gradually, we cannot go into it at once like that, we will loose our money and make mistakes.
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A lot of traders won't recommend trading if you're a newbie because the risk is so high. Maybe they can say that because they experienced it.
Yes, because newbies nowadays prefer to start trading even without enough knowledge about it. Experienced traders highly recommend that beginners should not rush into trading. It's important to gain knowledge and experience to make a profit. Some suggest trying demo trading which is similar to real trading, but you don't have to use your own money.
Sometimes Experiences is the best teacher meaning we need to experienced losses at first before we learn to defend our funds in trading.
I am not saying we have to be careless in this terms but having it in difficult time will be easier when dificulties ends so why not try to trade even when you are newbie?
as long as you know your boundaries and your capacities to lose and earn.
That's true, but not in a way of starting the trade without knowledge. It's like you're getting into a war without any single weapon with you. It's not a good idea to experience losses before you even start to learn how to do trading. That's now the correct way of gathering experience. It's being reckless actually.
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A lot of traders won't recommend trading if you're a newbie because the risk is so high. Maybe they can say that because they experienced it.
I see a lot of posts replies that discourage trading.
Why newbies are being discouraged is because of the fact that newbies are well known to be neglecting the Learning process and if such is done with trading cryptocurrencies they are going to lose a lot of money. We are well aware that everyone started out as a newbie and even experts who were once a newbie but with what they experienced that’s why they are discouraging newbies, they want them to properly learn and understand how trading should be approached before they start trading. Trading is very risky and even with knowledge there is no guarantee of success that’s why trading experts discourage newbies from trading.
To become an expert in trading is not a day job, it requires months of training and practice to be prepared for trading. Practice makes perfection but practice should be done with knowledge else you risk running at loss.
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It's not possible to be 100% expert in the trading aspect. The point is that you can not be fully expert but what is more important is for you to learn from your mistakes and try to improve on those areas. Trading is all about trial and error. Just do the necessary things, have plan, stick to your plan and train yourself in order to be able to adapt to change to market conditions when necessary.
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A lot of traders won't recommend trading if you're a newbie because the risk is so high. Maybe they can say that because they experienced it.
I see a lot of posts replies that discourage trading.
I just want to clarify that all profitable traders start from newbie and I believe that they also experience loses.
Common, where did you see a thread discouraging newbies from trading? Because the only threads I have come over here are saying newbies shouldn’t trade if they don’t have the knowledge of trading, it is obviously wrong practice to jump into something you don’t have sufficient knowledge about. Trading, however, is a different thing. It is not like investment, where even after investment you can be learning while you have already invested your money in crypto.
Crypto trading must be done by someone who has the knowledge and experience for you to be able to get a profit from trading. Trading carries a lot of risk, and without knowledge, there’s no way someone will be successful in it. Although we all know it’s natural to lose in trading, both beginners and professionals will lose, but if there is knowledge, the risk of losing will be minimized.
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I think the first thing I should say is that those trading experts were also newbies one day, but they took risks. Trading is not made for everyone since we have to know how to separate several things. Things like fear, the fact of losing our investment, are things that not everyone can bear since it can generate a lot of anguish and anxiety, and that is something that can affect our health. When someone really wants to learn how to trade but keep their feet on the ground, they can start with very small amounts, that way time will tell us if we can move forward or forget about it completely.
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A lot of traders won't recommend trading if you're a newbie because the risk is so high. Maybe they can say that because they experienced it.
I see a lot of posts replies that discourage trading.
I can't agree more with your point of view, because I have also read many replies from the senior rank members who obviously have been in crypto for a long time and their replies should matter more but when I heard them saying such statements which are almost similar to your ones. I also had the same opinion that we should not follow them.
We should not follow others and always, even if they are ultra pro max experts, we should follow our own instincts if we have some knowledge about trading. If we don't have one, then following the experts would be advised, but still follow your instincts, because experts also make mistakes. Besides this we will not learn until we will follow others, to grow more, we have to do things on our own.
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An expert also starts from a newbie. So if someone waits for the moment to become an expert, it means that person will not start becoming a trader at any time. As a newbie, it is very natural that there will be many wrong decisions and you may also suffer some losses. Therefore, don't be careless about using a lot of money for initial trading.
Newbies will gradually become experts as they gain more flying hours. We can say that as experience will increase with the many things you go through. So, I agree that to start trading as a newbie, someone has to study and study. Do the test with free money and don't go too big. Your initial task is to study market movements and trading strategies.
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I just want to clarify that all profitable traders start from newbie and I believe that they also experience loses.
That's right. Every successful trader began as a newbie, but they didn't enter the market without first becoming expert traders.
If someone wants to start something in life, they need at least be aware of it or be able to do it. If someone lacks the necessary expertise, they shouldn't be encouraged to trade on their own no matter how good it sounds, pushing a newbie to begin trading because you want them to feel the gains and losses for themselves before they master the craft is a terrible idea.
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You don't have to be expert to be a trader what happened is that you need to define the type of trading you want because newbie can't involve himself or herself into binary trading without a sound knowledge toward trading before funding their account, most times it's very easily to involved oneself into cryptocurrency trading because they can't entirely lose their assets while trading if their funds in being funded with bitcoin. The only barrier would be if they fund it with altcoin that are not trusted or being established as then such assets can lose entirely 60 percent making them to go into lost.
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No, you don't need to be an expert to start trading crypto, but having a basic understanding and doing research will help alot.
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I just want to clarify that all profitable traders start from newbie and I believe that they also experience loses.
You're right, expert trader start from a newbie.
I remember once asking a friend to teach me how to trade.
He said don't, it's dangerous. Since then I have taught myself and finally understand the world of trading.
And I also understand that friends who forbid trading are not good friends.
He wants to be successful on his own and can't share his knowledge...
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A lot of traders won't recommend trading if you're a newbie because the risk is so high. Maybe they can say that because they experienced it.
I see a lot of posts replies that discourage trading.
Trading is not for newbies, they need to first learn about it because the risk associated with trading is very high and newbies are discouraged from trading so they don’t end up losing their money. Newbies don’t always like the idea of learning and if they skip the learning process to start trading the results will be bad for them, even trading experts still experience losses despite having such knowledge about it that why they discourage newbies from trading. Trading is more profitable than holding but it requires more work and understanding to succeed in it, newbies can trade if only they can acquire the necessary knowledge.
I just want to clarify that all profitable traders start from newbie and I believe that they also experience loses.
My only advice for newbie traders is back test your strategy very well and always follow your trading plan. Avoid the market if you can't see any setup that suit your criteria. Be a disciplined person because this is what you really need if you feel like your emotion is trying to control you.
Newbies are being discouraged because of their negligence of learning first and if they do so with trading the result will be bad for them as they will lose alot of money and have regrets later. If they can properly learn trading and carefully study market and have trading discipline then no one is stopping them from trading because in the end it is their money and their decision.
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A lot of traders won't recommend trading if you're a newbie because the risk is so high. Maybe they can say that because they experienced it.
Yes, because newbies nowadays prefer to start trading even without enough knowledge about it. Experienced traders highly recommend that beginners should not rush into trading. It's important to gain knowledge and experience to make a profit. Some suggest trying demo trading which is similar to real trading, but you don't have to use your own money.
Knowledge should be everyone’s priority before starting trading because without knowledge you are the risk of losing your investment and that is why newbies are being discouraged not to trade, we know that everyone started off as a newbie and gradually they got to where they are but before getting there they passed through certain processes that thought them the ways of trading. They didn’t just jumped into trading they gradually studied and learned about trading and acquired knowledge of trades but newbies nowadays are known to be neglecting anything that deals with learning first, they just want to skip the learning process and start investing or trading which is bad practice they will end up losing their money.
Trading is a risky business not just for newbies but even for experts that are knowledgeable because knowledge does not guarantee your success in trading it only reduces the risks of running at loss and increasing your chances of getting profits.
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A lot of traders won't recommend trading if you're a newbie because the risk is so high. Maybe they can say that because they experienced it.
I see a lot of posts replies that discourage trading.
I just want to clarify that all profitable traders start from newbie and I believe that they also experience loses.
Trading without knowledge is more risky. Nobody discourages trading. The only thing here is that no one should trade without having deep knowledge about it. We are not discouraging people from trading. People are trying to advise newbies that are jumping into the crypto market without knowledge of it.
However, knowledge should be the first thing someone should get before starting trading. Given the fact that even professionals lose in trading, what do you think if someone who doesn’t know anything about the market joins the market? I believe the risk will be too high, and such a person won’t get anything from their investment.
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As a trader I'm still finding it difficult in controlling my emotions. Most of my losses are being initiated due to my lack I. Managing my emotions.
Sure all successful traders did not just start making it in trading just like that they pass through this stages newbie are passing now. They pass through countless losses but still they keep on learning from their mistakes.
Most newbies are just In a ease of making it big in trading using uncontrollable leverages inorder to gain ×5 of their funds being traded. But not knowing would only cause more losses.
So trading not something you can master just in a day and trading don't have a point you can say you have done with the learning stage. Aslong you are trading you also still learning either yah new or old I trading, all you got to do is that take your time to understand more about trading. And how to handle the emotions in it.
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You may not have to be a professional before engaging into trading in full, there's a way you can start and begin with the little you can afford for trading after which you might have learned about it for some time, trading has it advantages and disadvantages, but when we are aware of the consequences in what we are doing, we will always play on the safe part and avoid risking our investment fund used on trading and we will be at a safer end.
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You must know about this when trading. How does it work if you want to trade? You must have a basic idea about how to date etc. Then you can start trading with as little money as you want. You can take expert advice for this if you want. Still, there is a degree of risk here. But the chances of profit from here are also equal.
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You must know about this when trading. How does it work if you want to trade? You must have a basic idea about how to date etc. Then you can start trading with as little money as you want.
I would say that if someone wants to be a trader then he/she should first of all remove the emotion of greed from his heart and once it's removed then that person should develop the quality of patience.
After that he/she should begin trading, a trader who isn't greedy and is patient can earn good income as a trader but those who wants to be rich overnight or within a few days or months then they won't get any profits as a trader.
Greed, and impatience are the worst enemies of a trader and if someone doesn't control his/her greed and isn't patient then trading is a kind of a ocean where you through your money and it's lost forever.
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I don't believe claiming expertise in trading is accurate. Instead, we should focus on gathering sufficient information essential for trading. The difference between experts and beginners lies in the accumulated knowledge over time. Everyone has the potential to become proficient through learning and consistent practice.
It's crucial to recognize that trading involves numerous emotional challenges, demanding a strong and healthy mindset for overcoming them. Trading may not guarantee success for those entering without a realistic mindset. The ability to bounce back from significant losses is key to staying in the game.
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A lot of traders won't recommend trading if you're a newbie because the risk is so high. Maybe they can say that because they experienced it.
I see a lot of posts replies that discourage trading.
I just want to clarify that all profitable traders start from newbie and I believe that they also experience loses.
It is not really what should be quoted as a discouragement I believe those posts are just painting trade as naked as it is and to a newbie that sees interest in trading those naked truth shouldn't be something to ignite fear in them but should be a caveat they should use to build their knowledge so we'll before jumping to trades. At least when you have been given the awareness that you will surely lose money and you start losing money in course of you just starting to trade it wouldn't seem shocking and fearsome to you anymore because you were informed beforehand.
Yes oo you're correct profitable traders today started off as newbies but do you know the story behind their glory today, some could be discouraging if you're are not financially and emotionally strong enough.
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At all new buy should not start training, he should learn a little knowledge about trading, trading is not a trivial thing, the loss is more bearable when you are completely ignorant about it. If you don't know where is my buying point, where is your selling point, where will you trade from, New bie can't trade like this, New Way should get some education about it. Then start trading, start trading with a small amount of money, so that even if there is a loss, it will be small and in my opinion, if the teacher of trading who is better, he will get out of the loss and only gain. He will get a lot from trading. Trading is a game of money because in it, you can make as much profit as you can lose as well as you get experience. What is loss and where can I get profit? These all things come from self experience.
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A lot of traders won't recommend trading if you're a newbie because the risk is so high. Maybe they can say that because they experienced it.
I see a lot of posts replies that discourage trading.
I just want to clarify that all profitable traders start from newbie and I believe that they also experience loses.
My only advice for newbie traders is back test your strategy very well and always follow your trading plan. Avoid the market if you can't see any setup that suit your criteria. Be a disciplined person because this is what you really need if you feel like your emotion is trying to control you.
Yes, you are right that some traders will usually not recommend trading for newbies, but that only happened before. This time around, trading platforms have upgraded to adding the demo trading feature on their platform, which cannot enable newbies to practice on the demo account and develop some trading skills and their trading strategy before they can start live trading.
I don't discourage newbies from trading, but I advise them to be decisive in investing only the money they can afford to lose.
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Shouldn't someone who is an expert be someone who has a lot of knowledge and experience, and has gone through many things and has optimal results from various experiences? In terms of trading, an expert trader should be a trader who is experienced and has also made a lot of profits. Well, the problem is that a trading opportunity won't be like that, right?
So in essence, a newbie who wants to start joining trading just needs to prepare himself thoroughly and well, so that he won't be careless, panic and lose control emotionally when trading.
The point is:
- emotionally mature
- Knowledgeably mature
- mature in risk management
So you can make quite good capital while continuing to learn from experience, learn by doing, too.
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-snip-
So in essence, a newbie who wants to start joining trading just needs to prepare himself thoroughly and well, so that he won't be careless, panic and lose control emotionally when trading.
The point is:
- emotionally mature
- Knowledgeably mature
- mature in risk management
So you can make quite good capital while continuing to learn from experience, learn by doing, too.
It looks very simple, but it is not easy to achieve.
Someone who is even professional sometimes will not always mature emotionally, this depends on how things go because a person's mental state will be unpredictable.
And in essence beginners need to know the basic knowledge of trading so that they know what to do.
It's not just about following other people's advice and putting it into practice.
No one really becomes an expert if they haven't mastered everything, haven't had extensive experience and gotten satisfactory results.
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-snip-
So in essence, a newbie who wants to start joining trading just needs to prepare himself thoroughly and well, so that he won't be careless, panic and lose control emotionally when trading.
The point is:
- emotionally mature
- Knowledgeably mature
- mature in risk management
So you can make quite good capital while continuing to learn from experience, learn by doing, too.
It looks very simple, but it is not easy to achieve.
Someone who is even professional sometimes will not always mature emotionally, this depends on how things go because a person's mental state will be unpredictable.
And in essence beginners need to know the basic knowledge of trading so that they know what to do.
It's not just about following other people's advice and putting it into practice.
No one really becomes an expert if they haven't mastered everything, haven't had extensive experience and gotten satisfactory results.
'With great knowledge comes great responsibility' as said by Peter Parkers uncle in the movie, Spiderman to Peter, has more meaning to express my thoughts on this subject matter.
One has to have had the knowledge of trading, have done their own research and have watched the exchange market enough to understand the market seasons and how whale movements affects same market too, before such a one can have the confidence to even attempt trading, that's assuming they already understand how cryptocurrency works and how to hold and secure their coins, can confirm transaction and also transact using P2p.
It simply takes a lot of discipline and demands alot of time and attention for one to even start being a newbie trader, because when we use the term expert, it means such a newbie has grown with practice and has had more experience in the market before being called an expert .
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No one needs to be an expert to trade cryptocurrencies, but they do need to know something about it in order to expect any profit. Research shows that in the end 95% of people who trade with cryptocurrencies give up or lose all the money they have invested, and many of them lose much more than they can actually afford.
The path to trading should start with a lot of research, and only then with a relatively small investment on which you should actually practice all those techniques and options that exist on a trading platform. I therefore think that it is necessary to distinguish between benevolent warnings aimed at beginners as something that is not some kind of malicious intent aimed at discouraging them from having a taste of it.
In addition, those who know how to trade always encourage others to join them, because their gain always results from someone else's loss.
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Guy to me I don't really feel to be an expert before I can start trading because everything I we want to learn will start from the beginning and becoming an expert in the future, more we engage ourselves in and start practicing day by day more we are understanding and becoming more strong in the system, no one just becomes an expert in trading without facing serious discourage as they are growing and becoming an expert today where other beginners seek advice from before starting.
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Guy to me I don't really feel to be an expert before I can start trading because everything I we want to learn will start from the beginning and becoming an expert in the future, more we engage ourselves in and start practicing day by day more we are understanding and becoming more strong in the system, no one just becomes an expert in trading without facing serious discourage as they are growing and becoming an expert today where other beginners seek advice from before starting.
If so, then the fuel is your money. The more money you have, the more opportunities you have to overcome some of your failures. Until now I can probably say that what you chose is not wrong, but it is also not better.
Learning in trading is very necessary, so at least we have a strong foundation first in trading. If you are too mentally weak and give up due to some of the losses you experience, perhaps the option you choose will not provide good results.
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Guy to me I don't really feel to be an expert before I can start trading because everything I we want to learn will start from the beginning and becoming an expert in the future, more we engage ourselves in and start practicing day by day more we are understanding and becoming more strong in the system, no one just becomes an expert in trading without facing serious discourage as they are growing and becoming an expert today where other beginners seek advice from before starting.
If so, then the fuel is your money. The more money you have, the more opportunities you have to overcome some of your failures. Until now I can probably say that what you chose is not wrong, but it is also not better.
Learning in trading is very necessary, so at least we have a strong foundation first in trading. If you are too mentally weak and give up due to some of the losses you experience, perhaps the option you choose will not provide good results.
If you have money but lack the knowledge to start trading, your financial resources will not make you a better trader. In such situations, you may end up losing your money in gambling, which you will eventually regret in the long run. It is important to note that having experience is not the only way to learn trading. You can use demo trading, which is a much better option than risking your money while you learn how to trade through experience and knowledge.
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Guy to me I don't really feel to be an expert before I can start trading because everything I we want to learn will start from the beginning and becoming an expert in the future, more we engage ourselves in and start practicing day by day more we are understanding and becoming more strong in the system, no one just becomes an expert in trading without facing serious discourage as they are growing and becoming an expert today where other beginners seek advice from before starting.
Well, one might not need to become a complete expert in trading to start trading but it is also a fact that one needs to at least have enough knowledge about the market and different trading practices to gain success in trading. After all, if you start trading without gaining enough knowledge, you will most likely lose your capital because you won't be able to do things properly.
To become an expert in trading, one needs experience along with knowledge, and experience can only be gained by practice which means that one will need to get into trading in order to gain experience.
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I think to start trading you really have to study price movements on the exchange because if you don't have knowledge about trading in general, lay people will generally be confused about how to invest capital and buy or sell to make a profit.
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I don't need expert skills in trading because I try it with small capital.
For example, on the Binance market I tried and learned to trade with only 10 USD capital.
Because as far as I know, the minimum trade on Binance Spot is 10 USD.
By continuing to trade even though your capital is small, you will become an expert indirectly because you know the characteristics of each coin.
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No even because no body start being an expert everything you want to learn you will start then patience and am understanding of the concepts is very important
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I don't need expert skills in trading because I try it with small capital.
For example, on the Binance market I tried and learned to trade with only 10 USD capital.
Because as far as I know, the minimum trade on Binance Spot is 10 USD.
By continuing to trade even though your capital is small, you will become an expert indirectly because you know the characteristics of each coin.
that's correct, well we don't need to be expert before thinking of trading , because one normally become expert in his journey of trading, but one thing we must need is a good knowledge on how trading works and how to manage it. That we don't have to start big Or rush things but to this with baby steps. And I like what you are doing start with small capital Inorder to gain some experience and also using spot trading is also a smart one would help in minimising Risk, because one starting with future trading may endup getting his self reckt through various losses or liquidation.
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I don't need expert skills in trading because I try it with small capital.
For example, on the Binance market I tried and learned to trade with only 10 USD capital.
Because as far as I know, the minimum trade on Binance Spot is 10 USD.
By continuing to trade even though your capital is small, you will become an expert indirectly because you know the characteristics of each coin.
that's correct, well we don't need to be expert before thinking of trading , because one normally become expert in his journey of trading, but one thing we must need is a good knowledge on how trading works and how to manage it. That we don't have to start big Or rush things but to this with baby steps. And I like what you are doing start with small capital Inorder to gain some experience and also using spot trading is also a smart one would help in minimising Risk, because one starting with future trading may endup getting his self reckt through various losses or liquidation.
That's not true. As I understand his statement, he is referring to getting into trading using 10$. He simply tried to do trading even without trading knowledge, he simply based the meaning of being an expert if you continue to do trading which is not true because to be a good trader, you also need knowledge aside from experience to successfully initiate trading and be profitable.
You can't learn in trading if you only refer to experience. If you do this without knowledge, you might end up losing all your money before you can even learn anything about trading. Much better to use the money on trading courses if you are willing to lose money instead of losing it all on trading.
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In life you don't need to be good in everything as long as you doing it right, it's fine.
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In trading you don't need to be good or expert in trading or everything as long as you doing it right, it's fine. And also you're willing to practice, the techniques and the flow of this business.
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My only advice for newbie traders is back test your strategy very well and always follow your trading plan. Avoid the market if you can't see any setup that suit your criteria. Be a disciplined person because this is what you really need if you feel like your emotion is trying to control you.
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Really expert? Actually No.
But, we need to be as prepared as possible before starting trading. Expert traders have also been beginners, right? but they succeeded in becoming experts, because they were ready to fight. Expert does not mean they never lose, but they are able to get more profits than losses.
Oh yes, regarding being a beginner, this is what I say to be as prepared as possible. namely being ready in terms of knowledge, the ability to control emotions and yourself, the ability to manage finances, the ability to analyze coins or tokens, the ability to analyze the market. And this all comes from studying first.
That's not true. As I understand his statement, he is referring to getting into trading using 10$. He simply tried to do trading even without trading knowledge, he simply based the meaning of being an expert if you continue to do trading which is not true because to be a good trader, you also need knowledge aside from experience to successfully initiate trading and be profitable.
You can't learn in trading if you only refer to experience. If you do this without knowledge, you might end up losing all your money before you can even learn anything about trading. Much better to use the money on trading courses if you are willing to lose money instead of losing it all on trading.
This is also an important point. Because beginners often make their trades based on information from other experienced traders. Often we know them only based on trading signals, whether paid or free. Meanwhile, this is actually not effective enough for beginners to do, unless they have this knowledge. Just relying on the trading signal, will not make them successful in trading. the risk is still big. I agree with you, because after all, trading is high risk. So yes, you really have to prepare ourself well, especially with your abilities and knowledge.
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I see a lot of posts replies that discourage trading.
It is not to discourage the new traders, just to let them know the truth about trading and the realities with it. Some newbies in trading believe that they can easily start making money and become rich once they know how to trade, it is not always so because the process to learning to trade is not a short time, it is something that requires patience and a lot of time to be dedicated towards. Trading is not as easy as you reasoned it to be, it requires a lot of skill.
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I just noticed that the question in general is formed incorrectly. How come someone be an expert, when he starts doing something. Those who start trading are beginners. Those who already have experience in trading (does not matter if it is good or bad), they are already experts. Otherwise it looks like asking if is it possible to learn to ride bicycle, when you already know how to ride.
Anyway, I dont know how expert is really differs from a non-expert? By reaction on clicking sell or buy? By knowing what to buy or sell? You dont need to be an expert to understand what is demand and supply imho. By knowing how to sell more expensive than purchased before? We all know that from our shopping routine. For me there is no need to be expert to start, but it is a must to know about security measures in crypto.
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I see a lot of posts replies that discourage trading.
It is not to discourage the new traders, just to let them know the truth about trading and the realities with it. Some newbies in trading believe that they can easily start making money and become rich once they know how to trade, it is not always so because the process to learning to trade is not a short time, it is something that requires patience and a lot of time to be dedicated towards. Trading is not as easy as you reasoned it to be, it requires a lot of skill.
Maybe their purpose is not to discourage, but the way they describe it seems to discourage them from trading. However, it is often beneficial to prevent people from trading because, according to statistics, the majority of traders fail. So, if a person wants to trade because he is running out of money, it is a bad idea since focusing on money prevents you from making good decisions in the market.
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Maybe their purpose is not to discourage, but the way they describe it seems to discourage them from trading. However, it is often beneficial to prevent people from trading because, according to statistics, the majority of traders fail. So, if a person wants to trade because he is running out of money, it is a bad idea since focusing on money prevents you from making good decisions in the market.
I think the goal of new traders who want to make money is to think too simply without any mathematics there. Like an expert's very simple advice "Buy when it's cheap, sell when it's expensive".. these words are very easy to say, and newbies find it easy to do too. even though in its application there are analyzes that need to be mastered as well, and that is not a concern for many newbies.
There are strategies and risk management that are quite complex to learn, and I'm sure many newbies skip this.
Yes, instead of discouraging them, it's a good idea to recommend safe ways to become professional traders, such as recommending them to learn more about technical and fundamental analysis. And learn from experts around you, because face-to-face meetings will create something more intense.
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I just noticed that the question in general is formed incorrectly. How come someone be an expert, when he starts doing something. Those who start trading are beginners. Those who already have experience in trading (does not matter if it is good or bad), they are already experts. Otherwise it looks like asking if is it possible to learn to ride bicycle, when you already know how to ride.
If you read the opening post again, you will realize that it's not just a question but he formed the title this way, he is trying to convey the message that one can trade even if they are not experts of the market which is true. So this question in the title means that does a newbie have to become an expert in the market first before they start trading?
One might not need to be an expert of the market but one needs to have enough knowledge about the market to be able to make successful trades despite the failures in the initial stage. Those who are experts of the market were also once newbies but all they did was to keep learning and growing over time, they never gave up because of losses when they first started trading.
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One might not need to be an expert of the market but one needs to have enough knowledge about the market to be able to make successful trades despite the failures in the initial stage. Those who are experts of the market were also once newbies but all they did was to keep learning and growing over time, they never gave up because of losses when they first started trading.
This is just exactly what I was saying to someone a few days ago; it was an argument regarding how frequent professional traders lose in trading. Professional traders still encounter losses in trading; newbies usually encounter losses in trading; in fact, every trader usually encounters losses in trading, and the OP was right to say that one doesn't need to become a professional before they can start trading. As a matter of fact, because someone can even confirm himself or herself as a professional trader, they must have started trading as newbies; they must have had a series of losses and learned from their mistakes, which made them better traders than they are.
Trading is a progressive skill. First, we started learning and applying the strategy we learned by engaging in real trades, and we also faced losses to become strong and know how to handle our emotions.
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I just noticed that the question in general is formed incorrectly. How come someone be an expert, when he starts doing something. Those who start trading are beginners. Those who already have experience in trading (does not matter if it is good or bad), they are already experts. Otherwise it looks like asking if is it possible to learn to ride bicycle, when you already know how to ride.
If you read the opening post again, you will realize that it's not just a question but he formed the title this way, he is trying to convey the message that one can trade even if they are not experts of the market which is true. So this question in the title means that does a newbie have to become an expert in the market first before they start trading?
One might not need to be an expert of the market but one needs to have enough knowledge about the market to be able to make successful trades despite the failures in the initial stage. Those who are experts of the market were also once newbies but all they did was to keep learning and growing over time, they never gave up because of losses when they first started trading.
Then topic name (a question) does not perfectly match his suggestions in first post. Its better be «Here are some tips newbies should follow if they want to improve their trading skill».
With my reply I have answered to topic question with the idea, that after a first trade, a person is no longer a newbie. Long story short, from very childhood people have learned how to buy and sell, what is expensive and what is not, know numbers and can easily figure out that 2 is greater than 1. With such little baggage of knowledge, it is enough to start trading. With little experience of how to use google and what to look for, it is enough to do basic research of an asset. Which makes you dont need to be an expert to start trading.
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I would recommend getting started with the little knowledge and resources you have. Practice will allow you to learn and improve. Leveraging trading challenges will also be a plus. Crypto enthusiasts could check what exchanges have to offer. A good example would be Bitget which is popular for crypto events. There is a trading challenge on the MUMU/USDT pair to share in the 760 million MUMU prize pool. This will help you earn extra cash and improve your trading skills. There are plenty of such giveaways on the CEX that one could leverage to improve.
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I just noticed that the question in general is formed incorrectly. How come someone be an expert, when he starts doing something. Those who start trading are beginners. Those who already have experience in trading (does not matter if it is good or bad), they are already experts. Otherwise it looks like asking if is it possible to learn to ride bicycle, when you already know how to ride.
If you read the opening post again, you will realize that it's not just a question but he formed the title this way, he is trying to convey the message that one can trade even if they are not experts of the market which is true. So this question in the title means that does a newbie have to become an expert in the market first before they start trading?
One might not need to be an expert of the market but one needs to have enough knowledge about the market to be able to make successful trades despite the failures in the initial stage. Those who are experts of the market were also once newbies but all they did was to keep learning and growing over time, they never gave up because of losses when they first started trading.
Then topic name (a question) does not perfectly match his suggestions in first post. Its better be «Here are some tips newbies should follow if they want to improve their trading skill».
With my reply I have answered to topic question with the idea, that after a first trade, a person is no longer a newbie. Long story short, from very childhood people have learned how to buy and sell, what is expensive and what is not, know numbers and can easily figure out that 2 is greater than 1. With such little baggage of knowledge, it is enough to start trading. With little experience of how to use google and what to look for, it is enough to do basic research of an asset. Which makes you dont need to be an expert to start trading.
There is no mistake with the topic's name; I used it since I believe it's the best topic name for my post.. What I mean in the "start trading" is that trading with funds. I feel that we may be market experts by just using a demo account, which is why this topic was created. However, I won't argue that your perspective is incorrect because it is yours, and we all have different opinions. But I still appreciate it.
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Expert is not required but beginners should at least be knowledgeable enough in order to manage their coins. It is also important to prevent getting scammed and such. So my answer is no, expertise isn't needed but knowledge is a must.
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Re: Do you really need to be expert to start trading?
Nobody in this world has been born an expert.
We all started as newbies in different things. We all started learn different things as we grew up, and it will be the same with trading.
If you want to pursue trading, you need to learn it, and you don't need to be expert to start trading. Anybody can trade, but not all can be profitable in trading. Being an expert is a no-no. Everybody starts as a newbie with everything, and that includes trading. Now the question is, will you become successful in trading? Being an expert is out of the question. Being profitable on trading is the question.
A lot of traders won't recommend trading if you're a newbie because the risk is so high. Maybe they can say that because they experienced it.
Well, you will never know if you will not try. I don't know why people aren't recommending trading to newbies. I mean I agree that the risk is at it's peak especially when you're a newbie, but at least let them experience trading then they will decide if it's for them or not, right? :D
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Expert is not required but beginners should at least be knowledgeable enough in order to manage their coins. It is also important to prevent getting scammed and such. So my answer is no, expertise isn't needed but knowledge is a must.
I actually do not like the word 'expert' in crypto, people use it to deceive and scam newbies, once someone calls himself an expert in crypto, some gullible newbies will believe everything they say and it becomes easy to scam them.
Trading isn't for newbies, they can buy coins and store it, but they need time to trade. If a newbie starts with trading, the chances are very high they won't last long in the network, they may lose a lot of money quickly and call it a scam.
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Where do professionals come from? Do they all do special studies for trading?? Maybe some do,... but I'm sure some don't take courses or trading schools to become professionals. This is a process, where the newbie stage cannot be skipped... so every newbie can trade and if they have good intentions and consistency, it is very likely that a newbie will evolve into an expert or professional.
A professional today, was definitely a newbie in the past. So if a newbie starts moving now, in the future he will have the opportunity to become a professional.
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I see a lot of posts replies that discourage trading.
I used to trade in the last few years and i could say that trading is not for everybody. You've got to have a heart of steel to be a trader, that's my own opinion as per experience, trading was very stressful for me that it could affect our physical and mental health.
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Everyone has to begin from scratch but as a newbie, we may not be equipped with all the necessary knowledge required for trading it will obviously take time to experience even if we study hard from various sources.
Trading is quite profitable but day trading is highly inconsistent to make profits so one who traders on a daily basis can lose their profits at one bad trade that takes few days to good trades.
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Everyone has to begin from scratch but as a newbie, we may not be equipped with all the necessary knowledge required for trading it will obviously take time to experience even if we study hard from various sources.
Trading is quite profitable but day trading is highly inconsistent to make profits so one who traders on a daily basis can lose their profits at one bad trade that takes few days to good trades.
What special knowledge is necessary to start trading? A person who registers at exchange know what is more or less, knows numbers. It takes minutes to get familiar how to trade, where are sell/buy and order book is located. A person see increasing and decreasing numbers. Seems quite simple to start. Not to mention that it usually takes minutes to buy crypto from card for any amount and start trading. Imo it isnt hard to start, it is harder to predict price movement. But that is a different thing. I call it research. To learn to research market or cryptocurrency indeed is complicated. But is very simple to click two buttons, buy and sell.
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Everyone has to begin from scratch but as a newbie, we may not be equipped with all the necessary knowledge required for trading it will obviously take time to experience even if we study hard from various sources.
Trading is quite profitable but day trading is highly inconsistent to make profits so one who traders on a daily basis can lose their profits at one bad trade that takes few days to good trades.
What special knowledge is necessary to start trading? A person who registers at exchange know what is more or less, knows numbers. It takes minutes to get familiar how to trade, where are sell/buy and order book is located. A person see increasing and decreasing numbers. Seems quite simple to start. Not to mention that it usually takes minutes to buy crypto from card for any amount and start trading. Imo it isnt hard to start, it is harder to predict price movement. But that is a different thing. I call it research. To learn to research market or cryptocurrency indeed is complicated. But is very simple to click two buttons, buy and sell.
IMO, the goal of someone starting trade is to make profits not just to trade itself so if someone who is gonna just take the call based on what they see on their screen without knowing how to strategize their trading plan is just gambling.
No need to acquire special skills, just the basics and it starts from picking their exchange. If they go and search on google then probably it will show some crap articles with shady exchanges.