Don't be in a Rush

[LogitechMouse]

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.

[Jamal Aezaz]

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.

[Gurujebs]

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.

[Thyplaymaker]

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 .

[Charles-Tim]

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.

[Ambatman]

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.

[vegasus]

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.

[Crypto Library]

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.

[UNIVERSE]

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.

[gunhell16]

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.

[ajiz138]

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.

[Fivestar4everMVP]

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.

[Jamal Aezaz]

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.

[Faisal2202]

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)

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.

[Charles-Tim]

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.