Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: Rruchi man on April 12, 2024, 07:36:20 PM
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Some simple practices can help a newbie trader to quickly improve on his/her trading skills. some of these practices are very simple, can be done alone or best with another newbie trader who wants to become an expert trader. Some of these practices that I have observed are;
- Practice demo trading, although not all traders started with Demo trading because some traders actually could handle the risk of loosing.
- Be consistent, and to encourage or learn consistency, you can start a 21 days trading challenge with a fellow newbie trader, or a trading challenge for as long as you want. If you do a challenge with someone, the person can encourage you when you feel like quitting from the challenge due to failed analysis or other reasons.
- Whenever you loose in trading, always return back to find out the reason why you failed.
- Do not depend on signal groups.
- Practice emotional control.
- Do not focus on too many cryptocurrency pairs.
- Join a community of traders.
These are a few, and I am sure there are more from other traders, please share to the benefit of us all.
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Some simple practices can help a newbie trader to quickly improve on his/her trading skills. some of these practices are very simple, can be done alone or best with another newbie trader who wants to become an expert trader. Some of these practices that I have observed are;
- Practice demo trading, although not all traders started with Demo trading because some traders actually could handle the risk of loosing.
- Be consistent, and to encourage or learn consistency, you can start a 21 days trading challenge with a fellow newbie trader, or a trading challenge for as long as you want. If you do a challenge with someone, the person can encourage you when you feel like quitting from the challenge due to failed analysis or other reasons.
- Whenever you loose in trading, always return back to find out the reason why you failed.
- Do not depend on signal groups.
- Practice emotional control.
- Do not focus on too many cryptocurrency pairs.
- Join a community of traders.
These are a few, and I am sure there are more from other traders, please share to the benefit of us all.
The points you listed are essential for traders, especially practice and psychological control in trading. The market is truly harsh, and only effort will bring profits to traders.
I would just like to add that in the process of learning and applying technical analysis methods, traders will have to accept that sometimes what they learn is not effective in creating a profitable trade. The market is more dynamic than what we know, the current popular indicators and methods were created decades ago and may no longer be truly suitable for the current market, especially for crypto. At the same time, not all methods are suitable for all traders. A trader need to practice to find a method that suits him, in terms of risk, time frame...
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Demo trading for newbies. I know that a lot of people do not look at that as something good, but that is exactly what you should be looking at. I personally believe that the best thing to do in this case would be to learn how to trade from a demo account. If you could do that, you could get better with time, it's going to be something special for you. I believe that the best way to go further would be just to arrange a system that works at demo trading before you start to go towards better results. In the end, if you could get what you want at a demo, then there is a possibility you could do it in real life, but if you fail at the demo then you will definitely fail in real life.
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I don't know why, no matter how many things I learn from trading, whether it's material that is quite easy to understand or analysis that is quite heavy, for me, it doesn't really matter. It's nothing, but I really can't afford it. ha ha
So, betting is so complicated, I think I've tried it. indeed sometimes it is very fruitful. I tried to analyze the market using several techniques. But in the end, it made me even more confused. I even used VIP trading signals. However, it still can't be optimal. So it's possible that my passion is not in trading, because it's still difficult to follow the method or understand trading analysis very accurately.
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But in the end, it made me even more confused. I even used VIP trading signals. However, it still can't be optimal. So it's possible that my passion is not in trading, because it's still difficult to follow the method or understand trading analysis very accurately.
I believe you need experience before you can start to make better calls. Most traders that I know of seem to stick with two or three indicators they're most familiar with when they're doing technical analysis, maybe you can try to do the same to avoid confusion and improve your sense when you use them. It is hard to know whether trading is for you or not unless you stick with it for a while, but I believe if you are not a patience person then it is difficult to do so. I'd suggest you avoid any signal group tbh, as most of them are just pump and dump groups in disguise even if you paid for the VIP service. Even if you got lucky, there's no guarantee that the owner won't make bad calls too and it will reduce your trading sense if you keep relying on their analysis to make decisions.
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They are very good advice, especially about trading with a demo, so you can have an idea that things are at that level and that every time one of the operations fails you have enough power to recover quickly, I I would say that when we do tradign we must have 3 operations, if in those operations we do not come out with a positive balance, we must check what is happening, because we are not seeing the market in the correct way and that is a reason to do an analysis or even stop ultimately to know where we are failing, because the way of seeing the market is not correct.
The market offers many Opportunities , I think that patience is also a way to see it as good advice, and that the greatest of all the graying is not to think that with trading we will become millionaires, trading must be seen as a business, where we We must win but little by little.
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Some simple practices can help a newbie trader to quickly improve on his/her trading skills. some of these practices are very simple, can be done alone or best with another newbie trader who wants to become an expert trader. Some of these practices that I have observed are;
- Practice demo trading, although not all traders started with Demo trading because some traders actually could handle the risk of loosing.
- Be consistent, and to encourage or learn consistency, you can start a 21 days trading challenge with a fellow newbie trader, or a trading challenge for as long as you want. If you do a challenge with someone, the person can encourage you when you feel like quitting from the challenge due to failed analysis or other reasons.
- Whenever you loose in trading, always return back to find out the reason why you failed.
- Do not depend on signal groups.
- Practice emotional control.
- Do not focus on too many cryptocurrency pairs.
- Join a community of traders.
These are a few, and I am sure there are more from other traders, please share to the benefit of us all.
Trading with demo account is one of the things you should really to become expert in trading. It helps you to make a better trading plan and to know how good the strategy you are using. By determining the win rate of your trading strategy, it helps you to gain confident if you transitioned to real account. If you are confident, it will not affect your trading execution. Overall, demo trading not only helps you to make a better trading plan but also helps you to improve your trading psychology.
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The best practice is to become convinced that you cannot always achieve gains in trading. Trading sometimes leads to gains and sometimes losses, but the outcome of your trading must be profits.
Starting with demo trading does not mean that it is necessary only for beginners, but also that any trader needs to retest his strategies several times, so a demo account is important for all traders.
Do not make trading a full-time job, as there are trading bots that can be programmed, and then you may not need to be in front of the trading screen for more than a quarter of an hour a day.
Do not trade with money you need within the next 6 months.
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I don't know why, no matter how many things I learn from trading, whether it's material that is quite easy to understand or analysis that is quite heavy, for me, it doesn't really matter. It's nothing, but I really can't afford it. ha ha
So, betting is so complicated, I think I've tried it. indeed sometimes it is very fruitful. I tried to analyze the market using several techniques. But in the end, it made me even more confused. I even used VIP trading signals. However, it still can't be optimal. So it's possible that my passion is not in trading, because it's still difficult to follow the method or understand trading analysis very accurately.
The points that OP conveyed are indeed important points for us to start trading, but the problem is that theory and practice will be very different. We may be able to understand the theory we learn and when we do it directly in trading it will make us confused.
I think you're not the only one who feels that way, because I feel it too and I think there are still many people out there who also feel the same way. Trading is not as easy as it seems, we are required to understand and that is not easy.
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Demo trading for newbies. I know that a lot of people do not look at that as something good, but that is exactly what you should be looking at. I personally believe that the best thing to do in this case would be to learn how to trade from a demo account. If you could do that, you could get better with time, it will be something special for you.
It is the same as when we used a faucet on the crypto casino to gamble and then make a deposit to play. Unfortunately, we don't take demo trading seriously. Most of us create an account, and when we get the demo funds, we take it lightly, and open the position as if it's nothing (it's nothing, though). The question is, can we do the same thing with the real funds? Of course no. To learn to trade, you have to treat the demo funds like the real funds so you value them and understand how you willll feel if you lose the trade. But unfortunately, we never manage to control ourselves and we never take the demo funds seriously.
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It is the same as when we used a faucet on the crypto casino to gamble and then make a deposit to play. Unfortunately, we don't take demo trading seriously. Most of us create an account, and when we get the demo funds, we take it lightly, and open the position as if it's nothing (it's nothing, though). The question is, can we do the same thing with the real funds? Of course no. To learn to trade, you have to treat the demo funds like the real funds so you value them and understand how you willll feel if you lose the trade. But unfortunately, we never manage to control ourselves and we never take the demo funds seriously.
This is true and the exact reason why I indicated that not all traders started with Demo trading. There are some traders who recognize that learning to demo trade before they enter the live market can take a longer time because demo trading may not actually teach you the emotional side of handling your account and trading and that will be a new lesson for every new trader to learn after they have spent time demo trading. Some traders who have the money to risk in learning, skip that process, and practice on the live market with very little lot size. This approach teaches them the emotional side of trading too.
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Other than demo trading, I agree with all of the points that you have mentioned in the OP. I think out of all those points, control over ones emotions is the most important one and without it a trader can't make profit as a trader.
I believe a trader should have a proper plan when they start trading and they should build their own unique strategy. It's easy to follow other trader's plans, and strategies but those won't be helpful, that's why a trader should have their own unique strategy that they use each time to make profitable trades.
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I have did with all step above but can running smoothly and always get failed, I am interested with trading challenge and has limitation around one week should earn profit around $500 to $1000. Firstly is running well and the first week my challenge success get profit almost raise $1k but on second week get problem how easily my coins trading drop drastically, not use feature stop loss and should be long term holder without unpredictable when recovering of my altcoin or bitcoin assets.
Need to deposit another fresh money and forget with some coins assets dropping, but I doubt will get the same with my last capital just taking profit in the firstly week than loss?
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Some of these practices that I have observed are;
These are a few, and I am sure there are more from other traders, please share to the benefit of us all.
You list something contradict with each other. For example.
- Do not depend on signal groups.
- Practice emotional control.
- Join a community of traders.
If you want to have independent thinking, don't join any trading, signal groups or community.
If you do it, you will become dependable on others (thinking, signals) and noise in such groups, community will cause you harder to control your emotion. I am against this idea.
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You list something contradict with each other. For example.
- Do not depend on signal groups.
- Practice emotional control.
- Join a community of traders.
If you want to have independent thinking, don't join any trading, signal groups or community.
If you do it, you will become dependable on others (thinking, signals) and noise in such groups, community will cause you harder to control your emotion. I am against this idea.
There is a benefit to joining a community, being a member of a community of people interested in trading can help you to maintain the high interest in trading, and in times where you are discouraged, thinking of quitting trading, you may be motivated to keep trading from the motivation of other traders in the group who may share stories about their trading journey occasionally to encourage others like you.
You are in a community that is free, not a signal group where you have to pay an amount for fee monthly, and although you can be influenced from the analysis and chatter of other people in the group, the entire decision making still falls to you.
Being a member of a community will also help you to become emotionally stronger as you will learn how to control the influence of other traders on you.
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Thank you for sharing your insights OP. It's always best to practice the things that you have input with. It's important to embody this and make sure that you follow it. The best thing a trader could do is assess your risk management. How much you are going to invest per trade and how you are going to limit your trades.
There are some groups that will help you and calls are up to you if you will follow or not.
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- Do not focus on too many cryptocurrency pairs.
These are good some really good points, although when I was a newbie in trading, I was also not so focused to too many crypto pairs. I kind a stick to Gala and Dydx. Before that, I was into future trading, and I was focusing on many crypto pairs. Which I think was a bad choice. Even if we want to stick to more than one pair, then we have to change our trading type. I prefer spot trading for too many crypto pairs and future trading for one or two crypto pairs.
Overall, I don't recommend future trading to anybody, especially to newbies. Because its a little risky and you can lose your funds if a newbie or do not have enough knowledge about the market. When I tried to focus on more than one crypto pairs in spot trading after learning it, I realized diversifying your portfolio is the most necessary thing because it's a risk-managing technique that we all should follow to minimize the lose and increase the profit.
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Some traders who have the money to risk in learning, skip that process, and practice on the live market with very little lot size. This approach teaches them the emotional side of trading too.
Also, it depends on the trader's wealth. Even though it is recommended to have enough funds to recover your trading losses, some traders start with a very minimal amount and if they lose it, they will be in trouble. For such cases, these traders should try the demo trade first because losing their trades will be difficult for them.
Even though it is recommended not to trade if someone cannot afford to lose, but, people want to make money with their minimum investment. Demo trading is a must for them. It will help them learning many things and help them minimize the risk of losing trades.
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This part "- Whenever you loose in trading, always return back to find out the reason why you failed."
Learning from my mistakes helps a lot go back to my old analysis and check what I did wrong if I did the analysis well or you just too greedy.
Also one of my mistakes in trading is chasing the spikes is very worst decision unless you have done analysis and always enabled the stop-loss because sometimes spikes make you lose much if you didn't set a stop-loss.
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I don't know why, no matter how many things I learn from trading, whether it's material that is quite easy to understand or analysis that is quite heavy, for me, it doesn't really matter. It's nothing, but I really can't afford it. ha ha
So, betting is so complicated, I think I've tried it. indeed sometimes it is very fruitful. I tried to analyze the market using several techniques. But in the end, it made me even more confused. I even used VIP trading signals. However, it still can't be optimal. So it's possible that my passion is not in trading, because it's still difficult to follow the method or understand trading analysis very accurately.
Indeed, trading is not the only way to make money. I don't know why you experience all this, I think you should just take a deep breath and find out why you seem not ro understand analysis. Maybe you kept telling yourself you can't do it or something.
But if you have passed that phase. You can venture into this other investment method which I talked about here. Like the premarket and other stuff. I hope it helps https://www.altcoinstalks.com/index.php?topic=320417.msg1540042#msg1540042 (https://www.altcoinstalks.com/index.php?topic=320417.msg1540042#msg1540042)
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Think of trading like fishing. You've got to have a good plan before you head out-know what bait to use, find the right spot, and don't rush. Just like you wouldn't spend all your savings on a fishing trip, don't put all your money into one trade. Keep learning the tricks of the trade, start small, and be patient. Write down what works and what doesn't, so you can get better over time. Basically, be smart, keep learning and don't risk more than you can afford to lose. That's how you keep your wallet happy in the long run.
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Thank you for the good trading tips, there are a lot of good tips mentioned by you and the rest of the members. But in the end, experience remains the true criterion for success or failure.
For me, the golden advice for all traders is not to risk more than you can afford to lose, and also to be patient and not to rush because trading requires a lot of patience.
Controlling emotions is very important for traders, especially fear and greed, because they are the two emotions that whales use to manipulate the market, so it is very necessary to control these emotions so that they do not cause you major losses.
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For me, the golden advice for all traders is not to risk more than you can afford to lose, and also to be patient and not to rush because trading requires a lot of patience.
Unfortunately, Not many of us follow this advice. I am not a regular trader. But I used to gamble a lot. This advice applies to gamblers as well. Because the gamblers also risk their money on casinos. Most of the time I give this advice to other gamblers but my ass cannot follow it when it comes to myself. I end up betting max and losing money, which I cannot afford to lose.
Controlling emotions is very important for traders, especially fear and greed, because they are the two emotions that whales use to manipulate the market, so it is very necessary to control these emotions so that they do not cause you major losses.
Controlling emotions develops with the experience of trading and maturity. I remember I cried just because I lost $1. But, I don't have that feeling even if I lose a couple of hundred dollars because now I am more mature than before.
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Think of trading like fishing. You've got to have a good plan before you head out-know what bait to use, find the right spot, and don't rush. Just like you wouldn't spend all your savings on a fishing trip, don't put all your money into one trade. Keep learning the tricks of the trade, start small, and be patient. Write down what works and what doesn't, so you can get better over time. Basically, be smart, keep learning and don't risk more than you can afford to lose. That's how you keep your wallet happy in the long run.
I agree with what you say that before doing anything you have to have a plan, for trading there must always be something so that we have our strategies, from having the money ready to do trading as well as the number of operations to do per trading session, when I trade I divide it into 3 motives, if I win in the first one, then perfectly I do things as they are and wait the next day, if I see that I don't win the first movement, then I make the second movement with the money enough to recover the loss of the first one and come out positive, and if I do the 3 I must recover the loss of the first 2, if I can't do it I give up, because I know that I am not seeing the trading correctly, my vision market is very far from reality, and I have to change my analysis, strategies, even try to understand.
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I agree with what you say that before doing anything you have to have a plan, for trading there must always be something so that we have our strategies, from having the money ready to do trading as well as the number of operations to do per trading session, when I trade I divide it into 3 motives, if I win in the first one, then perfectly I do things as they are and wait the next day, if I see that I don't win the first movement, then I make the second movement with the money enough to recover the loss of the first one and come out positive, and if I do the 3 I must recover the loss of the first 2, if I can't do it I give up, because I know that I am not seeing the trading correctly, my vision market is very far from reality, and I have to change my analysis, strategies, even try to understand.
That's right, everything has to be planned well, if what you planned at the beginning doesn't match your expectations then you have to be ready with a backup plan, so never stop in the middle of the road, everything we want won't be easy to get, it's hard work. hard will give very satisfying results.
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I agree with what you say that before doing anything you have to have a plan, for trading there must always be something so that we have our strategies, from having the money ready to do trading as well as the number of operations to do per trading session, when I trade I divide it into 3 motives, if I win in the first one, then perfectly I do things as they are and wait the next day, if I see that I don't win the first movement, then I make the second movement with the money enough to recover the loss of the first one and come out positive, and if I do the 3 I must recover the loss of the first 2, if I can't do it I give up, because I know that I am not seeing the trading correctly, my vision market is very far from reality, and I have to change my analysis, strategies, even try to understand.
That's right, everything has to be planned well, if what you planned at the beginning doesn't match your expectations then you have to be ready with a backup plan, so never stop in the middle of the road, everything we want won't be easy to get, it's hard work. hard will give very satisfying results.
You would really be needing that back up plan because there are tons of variations or ways or possible paths on which this market could really be going and this is why it would really be that a bad idea that you would really be making yourself fixated into something or into your analysis believing that it is absolute, because on the time that you would really be having this kind of approach
then you are just that basically that making yourself putting into that huge disappointment and frustration once you have seen that your analysis had been dumped
by the market.You would really be that needing to be versatile as much as possible of course.
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I agree with what you say that before doing anything you have to have a plan, for trading there must always be something so that we have our strategies, from having the money ready to do trading as well as the number of operations to do per trading session, when I trade I divide it into 3 motives, if I win in the first one, then perfectly I do things as they are and wait the next day, if I see that I don't win the first movement, then I make the second movement with the money enough to recover the loss of the first one and come out positive, and if I do the 3 I must recover the loss of the first 2, if I can't do it I give up, because I know that I am not seeing the trading correctly, my vision market is very far from reality, and I have to change my analysis, strategies, even try to understand.
That's right, everything has to be planned well, if what you planned at the beginning doesn't match your expectations then you have to be ready with a backup plan, so never stop in the middle of the road, everything we want won't be easy to get, it's hard work. hard will give very satisfying results.
You would really be needing that back up plan because there are tons of variations or ways or possible paths on which this market could really be going and this is why it would really be that a bad idea that you would really be making yourself fixated into something or into your analysis believing that it is absolute, because on the time that you would really be having this kind of approach
then you are just that basically that making yourself putting into that huge disappointment and frustration once you have seen that your analysis had been dumped
by the market.You would really be that needing to be versatile as much as possible of course.
Well for me these things have always given me a lot to talk about, personally I have always said that when it comes to trading one has to have a very cool head, that is, if something doesn't work, I have to Solve it elsewhere , or wait, until you have the correct vision of the market , sometimes it is better to leave with a loss but understand why you lost and then go in with Everything to be able to win, that is my way of thinking, but always taking into consideration that I know What I am doing, the rest is not something that I consider so as not to have to do things as if it were gambling, Gambling in trading is the worst thing there is.
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I agree with what you say that before doing anything you have to have a plan, for trading there must always be something so that we have our strategies, from having the money ready to do trading as well as the number of operations to do per trading session, when I trade I divide it into 3 motives, if I win in the first one, then perfectly I do things as they are and wait the next day, if I see that I don't win the first movement, then I make the second movement with the money enough to recover the loss of the first one and come out positive, and if I do the 3 I must recover the loss of the first 2, if I can't do it I give up, because I know that I am not seeing the trading correctly, my vision market is very far from reality, and I have to change my analysis, strategies, even try to understand.
That's right, everything has to be planned well, if what you planned at the beginning doesn't match your expectations then you have to be ready with a backup plan, so never stop in the middle of the road, everything we want won't be easy to get, it's hard work. hard will give very satisfying results.
Even though we already have a plan at the beginning, we often change plans in the middle of the road, this is a common occurrence. When trading is the same, strategies can change but you must remain focused on the goal of trading, profit. And emotional management must also be maintained, don't be greedy
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The points mentioned are good and I think they are all needed to upgrade our trading skills so that we remain traders who are more careful and can make wise decisions.
Even though I am not a day trader, my experience of failure in cryptocurrency trading also has something to do with the points mentioned in this topic.
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As a newbie, don't make things get complicated for you at first place place, you will quite agreed that you're likely not going to be good at every sides being a beginner, so you should know and have it at the back of your mind that you're expected to learn and get used to the way things are been done, which will be also part of your learning experience, before you can be going dipper in complicated trades and pairs.
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I agree with what you say that before doing anything you have to have a plan, for trading there must always be something so that we have our strategies, from having the money ready to do trading as well as the number of operations to do per trading session, when I trade I divide it into 3 motives, if I win in the first one, then perfectly I do things as they are and wait the next day, if I see that I don't win the first movement, then I make the second movement with the money enough to recover the loss of the first one and come out positive, and if I do the 3 I must recover the loss of the first 2, if I can't do it I give up, because I know that I am not seeing the trading correctly, my vision market is very far from reality, and I have to change my analysis, strategies, even try to understand.
That's right, everything has to be planned well, if what you planned at the beginning doesn't match your expectations then you have to be ready with a backup plan, so never stop in the middle of the road, everything we want won't be easy to get, it's hard work. hard will give very satisfying results.
You would really be needing that back up plan because there are tons of variations or ways or possible paths on which this market could really be going and this is why it would really be that a bad idea that you would really be making yourself fixated into something or into your analysis believing that it is absolute, because on the time that you would really be having this kind of approach
then you are just that basically that making yourself putting into that huge disappointment and frustration once you have seen that your analysis had been dumped
by the market.You would really be that needing to be versatile as much as possible of course.
It is a fact that things with trading are quite risky and have to be carried out with the care that deserves it, we cannot invent that things can be very lucky, our backup plan can be very varied and as you say, something versatile, because in the moment there is a fundamental, that can Change everything, and for that a quick reaction is needed, therefore when we do not put ourselves to see a long-term analysis we can suffer in that way, when it is short-term term, I don't have much experience but it is something that can be very difficult to predict, maybe you have to be very glued to the PC but that is 100% adrenaline.
I always avoid that, because things can really be very Changeable, in Trading Anything can happen.
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Controlling emotions develops with the experience of trading and maturity. I remember I cried just because I lost $1. But, I don't have that feeling even if I lose a couple of hundred dollars because now I am more mature than before.
Maturity comes with knowledge and experience so if you carried for just 1$ at start then it means that was your first loss but now perhaps your wins are more than your loss that's why you don't care about your loss.
At first people didn't understand the market and little loss seems to be big for them and they have not got anything therefore losing their own money makes a person sad very easily.
With the passage of time when you become experienced with market conditions by examining the good and worse effects then your maturity increases because your mind will accept those things about which you know better.
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The things that OP has mentioned are quite important and work well. Because indeed, this fact has an influence on our trading. Especially when you are a beginner in trading, several things need to be emphasized again so that beginners don't just think about the high hopes of becoming successful in trading instantly and easily. Because we know, trading is difficult, and it is not easy to be successful in trading, especially for beginners. A high level of effort is needed to do this.
- Whenever you loose in trading, always return back to find out the reason why you failed.
- Do not depend on signal groups.
- Practice emotional control.
These three things seem to be very influential and often occur or are even encountered by us. The problem is that we often lose control, especially when we have just experienced defeat. Our emotional control is often poor when we are just beginning to learn trading. So instead of thinking about ways to return the loss to profits, it actually gets worse because of a bad mental condition. This is why emotional management and tough mental preparation and wise ethics are needed for trading.
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Some simple practices can help a newbie trader to quickly improve on his/her trading skills. some of these practices are very simple, can be done alone or best with another newbie trader who wants to become an expert trader. Some of these practices that I have observed are;
- Practice demo trading, although not all traders started with Demo trading because some traders actually could handle the risk of loosing.
- Be consistent, and to encourage or learn consistency, you can start a 21 days trading challenge with a fellow newbie trader, or a trading challenge for as long as you want. If you do a challenge with someone, the person can encourage you when you feel like quitting from the challenge due to failed analysis or other reasons.
- Whenever you loose in trading, always return back to find out the reason why you failed.
- Do not depend on signal groups.
- Practice emotional control.
- Do not focus on too many cryptocurrency pairs.
- Join a community of traders.
These are a few, and I am sure there are more from other traders, please share to the benefit of us all.
- It was a very nice reminder for the traders. Everything you said is good; maybe I should just focus on controlling our emotions, because here many people lose quickly because of unexpected drops in the price value of the coins they hold. of a trader.
This is where the attack of our emotions often happens because of the sudden drop in value that causes anxiety or worry, which is not supposed to be like that, right?
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With the passage of time when you become experienced with market conditions by examining the good and worse effects then your maturity increases because your mind will accept those things about which you know better.
The point is, that maturity did not come in one day or a night. We had to spend time and make mistakes to improve ourselves. I had to be steady with what I did and find out the mistakes that caused the loss. So, when a trader comes to the market, they should know that there is another side as well and they have to be ready to face that.
No matter how well-trained a trader can be, it is almost impossible to predict the market correctly all the time. Even professional traders lose their trades for various reasons. It could be because of their mistake, or it could be for unexpected market movement. But you have to be ready for that.
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Certain strategies are very important to become an experienced trader. If a new trader I would say for him first he doesn't have anyone to help him then he must get all the trading related techniques and experience from demo trading and later he can come back to main trading. I originally did not use any demo trading to trade because someone close to me helped me a lot in teaching trading. But now I have gained a lot of experience in the trading platform because he taught me that among all the trading strategies, some of the strategies are to know the volatility of the market, not to be overly greedy in the trading platform and to be patient while trading. If a new trader or an old trader can follow these few trading strategies, he can definitely achieve success on the trading platform. All these strategies are important for everyone to follow as a trader.
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No matter how well-trained a trader can be, it is almost impossible to predict the market correctly all the time. Even professional traders lose their trades for various reasons. It could be because of their mistake, or it could be for unexpected market movement. But you have to be ready for that.
Having to be ready for everything that happens in trading is an awareness that will correct every mistake that occurs.
Professionals and beginners both have the opportunity to lose or profit, because what distinguishes them is only broader knowledge about trading.
Professional traders are better prepared with the strategies they are going to implement whereas beginners are still fumbling whether he or she entered at the right time, or they could profit or not.
Any mistake can happen, so professional traders have a backup strategy so it will help avoid more losses due to wrong predictions.
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Competition trading looks very cool it boost your mental state of trading to at least go for knowledge to stand strong and build up oneself to be able to defeat a fellow, at some point will increase your trading skills. One thing most traders don't understand is that when they developed themselves to learn and gain vast knowledge it would enhance their skills, though most skills can be effective when they go into live account since Demo is a kind of account that can be easily controlled and top up when it seems to be emptied. But with real account there will be carefulness and tension to protect one self from losing huge or keep losing, so when you mentioned competitive trading is a good way to go with.
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Professional traders are better prepared with the strategies they are going to implement whereas beginners are still fumbling whether he or she entered at the right time, or they could profit or not.
Professional has one advantage which is experience. They become professional by doing trade for a while. On the other hand, beginners do not have it which is a disadvantage for them. Beginners have to learn from their mistakes and their trades. I know that we all make mistakes, professionals make them as well. But they know what to do to recover their loss or to fix the problem. Most beginner traders get scared after making the mistakes.
There is a one strategy which can be followed by every traders no matter if they are professionals or not, which is to hold your position and wait patiently to see if you get back to the profit or not. But you should have backup funds for that.
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Professional traders are better prepared with the strategies they are going to implement whereas beginners are still fumbling whether he or she entered at the right time, or they could profit or not.
Professional has one advantage which is experience. They become professional by doing trade for a while. On the other hand, beginners do not have it which is a disadvantage for them. Beginners have to learn from their mistakes and their trades. I know that we all make mistakes, professionals make them as well. But they know what to do to recover their loss or to fix the problem. Most beginner traders get scared after making the mistakes.
There is a one strategy which can be followed by every traders no matter if they are professionals or not, which is to hold your position and wait patiently to see if you get back to the profit or not. But you should have backup funds for that.
You know for a beginner to turned into professional he must be active and go into knowledge, and the constants practices and regular trading makes someone to developed this professionalism in them whereas someone is not trading or that is having fear how do you think they would becomes professionals so easily without constant practices.
What I just understand is that we need to be determined on what we are doing otherwise it could be hard to carry out any action we have set out.
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To improve the trading we do, we have to keep practicing and of course this method requires a large amount of capital. As long as you want to learn trading, you have to keep doing it, never stop learning something new, until the time comes for everything you have done. learning will be useful for you and you will become a professional trader because you already have quite a lot of trading experience.
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To improve the trading we do, we have to keep practicing and of course this method requires a large amount of capital. As long as you want to learn trading, you have to keep doing it, never stop learning something new, until the time comes for everything you have done. learning will be useful for you and you will become a professional trader because you already have quite a lot of trading experience.
You are right to become a professional trader requires long experience and of course sufficient capital because we have to learn from all the mistakes and losses in the past. This is what is called sacrifice to become an expert.
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Some simple practices can help a newbie trader to quickly improve on his/her trading skills. some of these practices are very simple, can be done alone or best with another newbie trader who wants to become an expert trader. Some of these practices that I have observed are;
- Practice demo trading, although not all traders started with Demo trading because some traders actually could handle the risk of loosing.
- Be consistent, and to encourage or learn consistency, you can start a 21 days trading challenge with a fellow newbie trader, or a trading challenge for as long as you want. If you do a challenge with someone, the person can encourage you when you feel like quitting from the challenge due to failed analysis or other reasons.
- Whenever you loose in trading, always return back to find out the reason why you failed.
- Do not depend on signal groups.
- Practice emotional control.
- Do not focus on too many cryptocurrency pairs.
- Join a community of traders.
These are a few, and I am sure there are more from other traders, please share to the benefit of us all.
- It was a very nice reminder for the traders. Everything you said is good; maybe I should just focus on controlling our emotions, because here many people lose quickly because of unexpected drops in the price value of the coins they hold. of a trader.
This is where the attack of our emotions often happens because of the sudden drop in value that causes anxiety or worry, which is not supposed to be like that, right?
Contrling your emotion is not easy, especially when you have already made little profit and you didn't close the trade, and after some minutes the market goes the opposite. Greed, and using a big amount of money to open a trade, can make one emotions in stable when you loss in that trade. This is why you should only use a little amount of money to trade, and don't enter the market when you don't understand the market.
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The point is, that maturity did not come in one day or a night. We had to spend time and make mistakes to improve ourselves. I had to be steady with what I did and find out the mistakes that caused the loss. So, when a trader comes to the market, they should know that there is another side as well and they have to be ready to face that.
No matter how well-trained a trader can be, it is almost impossible to predict the market correctly all the time. Even professional traders lose their trades for various reasons. It could be because of their mistake, or it could be for unexpected market movement. But you have to be ready for that.
Maturity comes with increasing experience and experience needs time and sacrifices so people will must sacrifice their money and if they lose then they have to think about the future not about the past but they should use their part for learning to make their future amazing.
If they are making mistakes then it's normal but if they are continuously repeating such mistakes then it is their fault which will not fix until they want to fix it. The market is unpredictable and because of such unpredictability traders often make huge profit from it but this is true for only experts while newbies will just not understand this unpredictable market easily.
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Contrling your emotion is not easy, especially when you have already made little profit and you didn't close the trade, and after some minutes the market goes the opposite. Greed, and using a big amount of money to open a trade, can make one emotions in stable when you loss in that trade. This is why you should only use a little amount of money to trade, and don't enter the market when you don't understand the market.
Exactly, as you said, we really have to control our emotions well to be able to control the money we have, sometimes when market conditions are collapsing we can panic and sell the assets we have at cheap prices, even though usually when the price collapses it will come back. bounced up. The risk when using money that will be used in the near future for trading is that the assets we use could run out instantly or we might get stuck at high prices.
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If all traders, especially beginners, had and were willing to think about all this, I am sure that many traders would still have the potential to get their best results and get profits. However, in fact, beginners, especially, actually miss several things which make us sometimes become careless traders. In this case, being someone who actually loses a lot of money because after all, trading without knowledge, without consideration, and without good and thorough analysis will usually be a disaster for them.
And unfortunately, many beginners actually think that trading is easy and can make you rich instantly. In fact, this is a somewhat correct initial thought. Maybe for professional traders, it will be successful, but it all also requires a process and it is not simple. But sometimes people only see what's good, so it makes us lose easily.
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Some simple practices can help a newbie trader to quickly improve on his/her trading skills. some of these practices are very simple, can be done alone or best with another newbie trader who wants to become an expert trader. Some of these practices that I have observed are;
- Practice demo trading, although not all traders started with Demo trading because some traders actually could handle the risk of loosing.
Well, you are right. Demo trading is a good way to practice trading and gain experience especially for newbies. Without knowing about trading and you start it then you are more likely to suffer losses. Some people do trade without gaining experience. Maybe they can afford to loose.
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Since trading is directly related to money, it certainly carries great risks. So a newbie must take training before starting trading. There are many traders who are not willing to do demo trading. They are also willing to lose to learn. Because they do not consider the money used for learning as loss. Currently for learning and as a newbie who wants to earn he can earn there by copy trading though there is no guarantee that he will profit there. If the trader follows a successful or experienced trader then he can learn trading very quickly.
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Since trading is directly related to money, it certainly carries great risks. So a newbie must take training before starting trading. There are many traders who are not willing to do demo trading. They are also willing to lose to learn. Because they do not consider the money used for learning as loss. Currently for learning and as a newbie who wants to earn he can earn there by copy trading though there is no guarantee that he will profit there. If the trader follows a successful or experienced trader then he can learn trading very quickly.
Yeah you're right, but at the same time I feel them. When I was new in trading, because of the wrong belief that trading can make you rich quick, I directly enter into live trade instead of doing a back test or forward testing. As a result, I experience losing money even though I lose 1$ in a trade but if we combine the loses that you make it weighs a lot. This was the mistake that I made in trading before that might possible to happen to new traders.
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]I think the best demo practice account is Metatrader app. When he has mastered the Metatrader then he can practice the live trading with small funds and from there gradually improve to the expert stage of trading. Op your list is good for newbies in trading and also a reminder and instructions to other traders. Any trader that like to succeed in trading must practice those instructions.
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Some simple practices can help a newbie trader to quickly improve on his/her trading skills. some of these practices are very simple, can be done alone or best with another newbie trader who wants to become an expert trader. Some of these practices that I have observed are;
- Practice demo trading, although not all traders started with Demo trading because some traders actually could handle the risk of loosing.
- Be consistent, and to encourage or learn consistency, you can start a 21 days trading challenge with a fellow newbie trader, or a trading challenge for as long as you want. If you do a challenge with someone, the person can encourage you when you feel like quitting from the challenge due to failed analysis or other reasons.
- Whenever you loose in trading, always return back to find out the reason why you failed.
- Do not depend on signal groups.
- Practice emotional control.
- Do not focus on too many cryptocurrency pairs.
- Join a community of traders.
These are a few, and I am sure there are more from other traders, please share to the benefit of us all.
- Thanks for the good reminders you made, mate. It will give good ideas and knowledge to everyone, especially the newbies who will enter the crypto space
that we belong to.
Actually, I do all the things you mentioned, and I also do the others that don't exist. Demo trading is good to use if, for example, someone wants to learn to do futures trading, and it's also right that there shouldn't be too many pairs we do in trading activity.
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Some simple practices can help a newbie trader to quickly improve on his/her trading skills. some of these practices are very simple, can be done alone or best with another newbie trader who wants to become an expert trader. Some of these practices that I have observed are;
- Practice demo trading, although not all traders started with Demo trading because some traders actually could handle the risk of loosing.
- Be consistent, and to encourage or learn consistency, you can start a 21 days trading challenge with a fellow newbie trader, or a trading challenge for as long as you want. If you do a challenge with someone, the person can encourage you when you feel like quitting from the challenge due to failed analysis or other reasons.
- Whenever you loose in trading, always return back to find out the reason why you failed.
- Do not depend on signal groups.
- Practice emotional control.
- Do not focus on too many cryptocurrency pairs.
- Join a community of traders.
These are a few, and I am sure there are more from other traders, please share to the benefit of us all.
You told appropriate. I am agree with you. For New traders At first should trade on demo account. Demo account is Best for practices trading. And if anyone trade real account without practice on demo account he will be losser there has no doubt.
And it also true that, for trading we have to follow some rules, like we have to know how to control emotion. And also know about money management. And mainly practice and practice to trade.
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Practice makes a person much more experienced in that regard. The more you practice, the easier it will become for you. You need enough practice where you are playing sports as well as you are studying to do well in studies you need enough practice you have to work hard in every field and the more you practice the more you work the easier it will be for you. In the case of trading, if we have acquired a little idea, but our idea will be limited to that little thing, so we have to do enough practice to expand our idea, as well as we have to try to gain knowledge from all other means. The more we try to learn and the more we practice what we know, the greater our knowledge will be.
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If all traders, especially beginners, had and were willing to think about all this, I am sure that many traders would still have the potential to get their best results and get profits. However, in fact, beginners, especially, actually miss several things which make us sometimes become careless traders. In this case, being someone who actually loses a lot of money because after all, trading without knowledge, without consideration, and without good and thorough analysis will usually be a disaster for them.
And unfortunately, many beginners actually think that trading is easy and can make you rich instantly. In fact, this is a somewhat correct initial thought. Maybe for professional traders, it will be successful, but it all also requires a process and it is not simple. But sometimes people only see what's good, so it makes us lose easily.
If only all traders could understand what OP did, it is for sure that most individual traders would be able to make a profit here. That's why most traders don't understand what OP said on the topic he raised.
Only those who know and have a deep understanding can do this in reality. Though everything Op says is good in this matter, honestly speaking,.
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To improve the trading we do, we have to keep practicing and of course this method requires a large amount of capital. As long as you want to learn trading, you have to keep doing it, never stop learning something new, until the time comes for everything you have done. learning will be useful for you and you will become a professional trader because you already have quite a lot of trading experience.
First trader must learn the basics and then for practicing his learned knowledge he has to use lots of money because sometimes he will lose and sometimes he will win and from both of the situations he will learn something new.
Each time you learn new things and as current halving is different from that of previous halving so here traders will learn innovative things which will be helpful for them in future. Nobody can say that his knowledge has become completed because technology is continuously developing and you will see new things always therefore don't stop learning and if possible then use the minimum amount to practice already learnt materials.
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I see first advice in the list is practicing in demo account, but I dont it is worth spending a lot of time on it. It isnt hard to get familiar with what each button on exchange page does and what is where in UI. I dont know why, but all my experience with demo accounts or demo gambling is me always winning or ending with profit. But as soon as I switch to "real money", my trades become ineffective or unprofitable, even though I am doing all the same. Or lets take other advice - when you fail in trading, return and search why you have failed. I have bought dogecoin few years ago. Now its price is lower. Its price never grew significantly. What is my mistake? Bought it on wrong time? But what was correct then? Nobody cant predict where is bottom.
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I see first advice in the list is practicing in demo account, but I dont it is worth spending a lot of time on it. It isnt hard to get familiar with what each button on exchange page does and what is where in UI. I dont know why, but all my experience with demo accounts or demo gambling is me always winning or ending with profit. But as soon as I switch to "real money", my trades become ineffective or unprofitable, even though I am doing all the same. Or lets take other advice - when you fail in trading, return and search why you have failed. I have bought dogecoin few years ago. Now its price is lower. Its price never grew significantly. What is my mistake? Bought it on wrong time? But what was correct then? Nobody cant predict where is bottom.
Demo trading or demo accounts not only let you understand the functionalities of a platform or what each button does, but you can use a demo account to practice your trading experience such as reading charts, using indicators to predict the future outcomes of each cryptocurrency, and practicing the strategies that you have learned so that you can use those strategies when you start making real trades.
A demo account might not make you perfect, but it will at least make you better in terms of utilizing multiple features and techniques that you can use as a trader in the future, and it will save you from unnecessary losses that you might incur if you start trading immediately without any practice.
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I see first advice in the list is practicing in demo account, but I dont it is worth spending a lot of time on it. It isnt hard to get familiar with what each button on exchange page does and what is where in UI. I dont know why, but all my experience with demo accounts or demo gambling is me always winning or ending with profit. But as soon as I switch to "real money", my trades become ineffective or unprofitable, even though I am doing all the same. Or lets take other advice - when you fail in trading, return and search why you have failed. I have bought dogecoin few years ago. Now its price is lower. Its price never grew significantly. What is my mistake? Bought it on wrong time? But what was correct then? Nobody cant predict where is bottom.
Demo trading or demo accounts not only let you understand the functionalities of a platform or what each button does, but you can use a demo account to practice your trading experience such as reading charts, using indicators to predict the future outcomes of each cryptocurrency, and practicing the strategies that you have learned so that you can use those strategies when you start making real trades.
A demo account might not make you perfect, but it will at least make you better in terms of utilizing multiple features and techniques that you can use as a trader in the future, and it will save you from unnecessary losses that you might incur if you start trading immediately without any practice.
Ok, I have spend 5 minutes maximum to understand how each and everything works on exchange. I have played with demo account and became an adept of trading, who closes every order with profit. But why when I switch to real trading, everything is different? In short, in demo mode, everything most of the time goes up. This rarely happen IRL. I mean what can I train for a long time, if the best strategy is "buy low sell high" and all I have to do is to wait for price to grow. Demo accounts does not teach patience. Crypto world news and announcements does not influence on demo account. So why then give so much attention to it?
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Demo trading or demo accounts not only let you understand the functionalities of a platform or what each button does, but you can use a demo account to practice your trading experience such as reading charts, using indicators to predict the future outcomes of each cryptocurrency, and practicing the strategies that you have learned so that you can use those strategies when you start making real trades.
A demo account might not make you perfect, but it will at least make you better in terms of utilizing multiple features and techniques that you can use as a trader in the future, and it will save you from unnecessary losses that you might incur if you start trading immediately without any practice.
I agree more with those of you who suggest trading directly without having to try first. In fact, if your budget for trading is very small, you can use a small amount of funds first and think of it as a cost of learning to understand the world of trading. whatever the outcome, you will still learn valuable lessons from every decision you make, therefore you will grow and develop when you are ready to develop and grow.
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I agree more with those of you who suggest trading directly without having to try first. In fact, if your budget for trading is very small, you can use a small amount of funds first and think of it as a cost of learning to understand the world of trading. whatever the outcome, you will still learn valuable lessons from every decision you make, therefore you will grow and develop when you are ready to develop and grow.
Trading directly using limited funds and it will be an experience that will make one learn how to trade well.
But after all the theory is also necessary even if it is only basic, because without theory trading will not find its point of achievement.
When some theory is applied and trading directly is done then this will provide good knowledge and experience.
I also do that and try to understand theories or techniques of analysis and fundamentals and hone my psychology.
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I agree more with those of you who suggest trading directly without having to try first. In fact, if your budget for trading is very small, you can use a small amount of funds first and think of it as a cost of learning to understand the world of trading. whatever the outcome, you will still learn valuable lessons from every decision you make, therefore you will grow and develop when you are ready to develop and grow.
Trading directly using limited funds and it will be an experience that will make one learn how to trade well.
But after all the theory is also necessary even if it is only basic, because without theory trading will not find its point of achievement.
When some theory is applied and trading directly is done then this will provide good knowledge and experience.
I also do that and try to understand theories or techniques of analysis and fundamentals and hone my psychology.
Learning trading is a good thing when investing in the crypto world. I also tried to learn some trading analysis and practice controlling emotions when trading, but experienced several failures because sometimes greed makes us unable to make rational decisions..
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Learning trading is a good thing when investing in the crypto world. I also tried to learn some trading analysis and practice controlling emotions when trading, but experienced several failures because sometimes greed makes us unable to make rational decisions..
Failure is the beginning of it all, when you diligently learn and know how the crypto market works,
you will understand more and more not to make the same mistakes.
Technical analysis also needs to be balanced with fundamental analysis, because fundamentals are also very influential for the crypto market.
Study each indicator and use the one that you find easy and suitable for your trading style.
Do not force using all indicators, maybe you only need to combine several indicators.
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I agree more with those of you who suggest trading directly without having to try first. In fact, if your budget for trading is very small, you can use a small amount of funds first and think of it as a cost of learning to understand the world of trading. whatever the outcome, you will still learn valuable lessons from every decision you make, therefore you will grow and develop when you are ready to develop and grow.
Trading directly using limited funds and it will be an experience that will make one learn how to trade well.
But after all the theory is also necessary even if it is only basic, because without theory trading will not find its point of achievement.
When some theory is applied and trading directly is done then this will provide good knowledge and experience.
I also do that and try to understand theories or techniques of analysis and fundamentals and hone my psychology.
Learning trading is a good thing when investing in the crypto world. I also tried to learn some trading analysis and practice controlling emotions when trading, but experienced several failures because sometimes greed makes us unable to make rational decisions..
Patience is indeed a very important key when you trade, make sure you have plenty of time to see the condition of coin price movements in the market, you must have plenty of time to monitor coin price movements in the market so you don't make the wrong decision.
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I agree more with those of you who suggest trading directly without having to try first. In fact, if your budget for trading is very small, you can use a small amount of funds first and think of it as a cost of learning to understand the world of trading. whatever the outcome, you will still learn valuable lessons from every decision you make, therefore you will grow and develop when you are ready to develop and grow.
Trading directly using limited funds and it will be an experience that will make one learn how to trade well.
But after all the theory is also necessary even if it is only basic, because without theory trading will not find its point of achievement.
When some theory is applied and trading directly is done then this will provide good knowledge and experience.
I also do that and try to understand theories or techniques of analysis and fundamentals and hone my psychology.
Learning trading is a good thing when investing in the crypto world. I also tried to learn some trading analysis and practice controlling emotions when trading, but experienced several failures because sometimes greed makes us unable to make rational decisions..
Patience is indeed a very important key when you trade, make sure you have plenty of time to see the condition of coin price movements in the market, you must have plenty of time to monitor coin price movements in the market so you don't make the wrong decision.
Patience is indeed needed or something crucial because dealing up with unpredictable prices is something that cant really be easily be done up by someone. You would really be needing up that kind of good emotion handling specially your patience and this isnt something that will really be that a walk in the park even if it sounds too pretty basic.
But of course too much patience could really be having that disadvantage too on which you could potentially missed out on selling on the peak and ending up on holding even further longer
and its not something that we dont really like to experience on. So better be wise on making up those selling points.
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You can't really "practice" patience, because it is not something that can be learned to do by reading something, you learn it by doing it, the more patient you stay, and not sell or do anything wrong, the better you become at it. I wasn't that great neither, in fact my early very first trades were all mistakes, literally technical mistakes, and I assumed exchange stole my money, and it was such a tiny amount as well. In the end nothing weird happened and the money was credited, and I still lost it at trading. But today? I can keep my coins for 20 years without selling (if I do not need it for something important) no matter what the price is, because you learn it with time.
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Failure is the beginning of it all, when you diligently learn and know how the crypto market works,
you will understand more and more not to make the same mistakes.
Technical analysis also needs to be balanced with fundamental analysis, because fundamentals are also very influential for the crypto market.
Study each indicator and use the one that you find easy and suitable for your trading style.
Do not force using all indicators, maybe you only need to combine several indicators.
That is what I did over the past few months having multiple trading indicators I thought would help predict the next price action but having multiple indicators would just give you confusion and I just realized that you should focus only on 2 or 3 indicators for validation and it depends on what type of trader you are.
In my experience for intraday, I got more losses than wins in intraday fundamental analysis wouldn't work it is pure technical unless if we only trade for the long term because you can react right away and exit when your fundamental analysis pointing to bearish season unlike in day trading the price action is pretty fast and you can't react right away. I learned from my losses this month I see how difficult day trading is I don't know how these intraday people make money on a daily basis or maybe my strategy still needs a bit of improvement?
The only problem is I heard that only 100 out of 7 can be successful in day trading this is the reason that pushes me to stop day trading and focus instead on weekly or monthly because it is far from spikes and manipulation than 1m, 5m, or 15m time frame. bigger picture shows you a better pattern and you can react right away than trading on a very fast price action.
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Patience is indeed needed or something crucial because dealing up with unpredictable prices is something that cant really be easily be done up by someone. You would really be needing up that kind of good emotion handling specially your patience and this isnt something that will really be that a walk in the park even if it sounds too pretty basic.
But of course too much patience could really be having that disadvantage too on which you could potentially missed out on selling on the peak and ending up on holding even further longer
and its not something that we dont really like to experience on. So better be wise on making up those selling points.
That's where the importance of selling targets must be determined from the start, whether based on time or based on profit percentage. If you keep waiting without a target, sometimes you just miss the right moment. Apart from that, there are also several impacts of greed, where there will also be moments that are missed, making a holder have to wait longer for that moment to come again.
The point is, don't be greedy when you become a holder... make sure you have a target for selling assets, before the moment you want passes you by.
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I agree more with those of you who suggest trading directly without having to try first. In fact, if your budget for trading is very small, you can use a small amount of funds first and think of it as a cost of learning to understand the world of trading. whatever the outcome, you will still learn valuable lessons from every decision you make, therefore you will grow and develop when you are ready to develop and grow.
Trading directly using limited funds and it will be an experience that will make one learn how to trade well.
But after all the theory is also necessary even if it is only basic, because without theory trading will not find its point of achievement.
When some theory is applied and trading directly is done then this will provide good knowledge and experience.
I also do that and try to understand theories or techniques of analysis and fundamentals and hone my psychology.
Learning trading is a good thing when investing in the crypto world. I also tried to learn some trading analysis and practice controlling emotions when trading, but experienced several failures because sometimes greed makes us unable to make rational decisions..
Patience is indeed a very important key when you trade, make sure you have plenty of time to see the condition of coin price movements in the market, you must have plenty of time to monitor coin price movements in the market so you don't make the wrong decision.
Patience is indeed needed or something crucial because dealing up with unpredictable prices is something that cant really be easily be done up by someone. You would really be needing up that kind of good emotion handling specially your patience and this isnt something that will really be that a walk in the park even if it sounds too pretty basic.
But of course too much patience could really be having that disadvantage too on which you could potentially missed out on selling on the peak and ending up on holding even further longer
and its not something that we dont really like to experience on. So better be wise on making up those selling points.
If we cannot control the patience we have then of course it will make us suffer losses and lose a lot of money, therefore we must be able to control our emotions well and never be influenced by the market situation which is currently unstable.
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Practices makes a man perfect. Without Proper practice no one can't success in any sector. Trading is also very critical to all of us. But many people coming here and Trading without and practice.
I think without proper knowledge and Practice anyone cannot profit and they lost his valuable fund and they comes away from trading. So i will tell everyone for trading practices is important and i will tell do proper practices.
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Demo trading for newbies. I know that a lot of people do not look at that as something good, but that is exactly what you should be looking at. I personally believe that the best thing to do in this case would be to learn how to trade from a demo account. If you could do that, you could get better with time, it's going to be something special for you. I believe that the best way to go further would be just to arrange a system that works at demo trading before you start to go towards better results. In the end, if you could get what you want at a demo, then there is a possibility you could do it in real life, but if you fail at the demo then you will definitely fail in real life.
New traders can learn the basics through demo trading but I don't believe that those who are already involved in trading will be able to improve their performance by using a demo account. Because demo account has fake money where there is no risk. If someone practice trading using demo account then they will lose huge amount in real trading world. Because they will not hesitate to use large amount of money in demo even during real trading. Because then the small amount will not be comfortable for him
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Practices makes a man perfect. Without Proper practice no one can't success in any sector. Trading is also very critical to all of us. But many people coming here and Trading without and practice.
I think without proper knowledge and Practice anyone cannot profit and they lost his valuable fund and they comes away from trading. So i will tell everyone for trading practices is important and i will tell do proper practices.
Practicing is the second step and the first step is to get knowledge therefore try to achieve knowledge from different sites and different sources and then practice this knowledge with a small amount of money you have. In such conditions you must learn but learning will be of two types either you will learn that your attained knowledge is accurate or will learn from your mistakes.
If you get success in practicing your trade then you can use a huge amount but at start I will say that don't make mistakes by using huge amounts of money. Everyone cannot get success in trading because they rushes towards success as a result of which they leave certain knowledge to learn therefore little knowledge becomes dangerous for them.
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Practices makes a man perfect. Without Proper practice no one can't success in any sector. Trading is also very critical to all of us. But many people coming here and Trading without and practice.
I think without proper knowledge and Practice anyone cannot profit and they lost his valuable fund and they comes away from trading. So i will tell everyone for trading practices is important and i will tell do proper practices.
First, they must have knowledge about trading and that concerns everything, apart from that, they must start practicing it because we cannot deny that practicing it is more complicated than just reading books or watching videos, or in other words just theorizing.
We have to study all this seriously, and it will definitely take a long time. If we want to master it in a short time, then that seems impossible, unless we really have very high intelligence.
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I agree more with those of you who suggest trading directly without having to try first. In fact, if your budget for trading is very small, you can use a small amount of funds first and think of it as a cost of learning to understand the world of trading. whatever the outcome, you will still learn valuable lessons from every decision you make, therefore you will grow and develop when you are ready to develop and grow.
Trading directly using limited funds and it will be an experience that will make one learn how to trade well.
But after all the theory is also necessary even if it is only basic, because without theory trading will not find its point of achievement.
When some theory is applied and trading directly is done then this will provide good knowledge and experience.
I also do that and try to understand theories or techniques of analysis and fundamentals and hone my psychology.
Learning trading is a good thing when investing in the crypto world. I also tried to learn some trading analysis and practice controlling emotions when trading, but experienced several failures because sometimes greed makes us unable to make rational decisions..
Patience is indeed a very important key when you trade, make sure you have plenty of time to see the condition of coin price movements in the market, you must have plenty of time to monitor coin price movements in the market so you don't make the wrong decision.
Patience is indeed needed or something crucial because dealing up with unpredictable prices is something that cant really be easily be done up by someone. You would really be needing up that kind of good emotion handling specially your patience and this isnt something that will really be that a walk in the park even if it sounds too pretty basic.
But of course too much patience could really be having that disadvantage too on which you could potentially missed out on selling on the peak and ending up on holding even further longer
and its not something that we dont really like to experience on. So better be wise on making up those selling points.
If we cannot control the patience we have then of course it will make us suffer losses and lose a lot of money, therefore we must be able to control our emotions well and never be influenced by the market situation which is currently unstable.
Easy to say but would really be that so damn hard for you to do such thing or specially on the moment that you are already that on such situation on which it would really be that too hard for you to have such control. We do know that when it comes to the situation on where you would really be that trying out to have that moderation with your emotion but since we are losing money with our trades then we would really be having that normal reaction on which we do become that impulsive. Trading with volatile market will really be giving out that kind of such emotion
on which it would really be that so damn hard to control. Experience would be your main edge compared with other traders as well.
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Practices makes a man perfect. Without Proper practice no one can't success in any sector. Trading is also very critical to all of us. But many people coming here and Trading without and practice.
I think without proper knowledge and Practice anyone cannot profit and they lost his valuable fund and they comes away from trading. So i will tell everyone for trading practices is important and i will tell do proper practices.
Exactly, that's why sometimes exchanges provide tutorials or demo accounts that can be used for new traders to try out some good and correct trading methods. To become a good trader and always have a fairly high level of accuracy will require a large amount of money which is spent on practice.
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Practices makes a man perfect. Without Proper practice no one can't success in any sector. Trading is also very critical to all of us. But many people coming here and Trading without and practice.
I think without proper knowledge and Practice anyone cannot profit and they lost his valuable fund and they comes away from trading. So i will tell everyone for trading practices is important and i will tell do proper practices.
First, they must have knowledge about trading and that concerns everything, apart from that, they must start practicing it because we cannot deny that practicing it is more complicated than just reading books or watching videos, or in other words just theorizing.
We have to study all this seriously, and it will definitely take a long time. If we want to master it in a short time, then that seems impossible, unless we really have very high intelligence.
Yes for trading we have to study seriously and definatly it will be for long time. Study and practice cam make a person as a good trader. To be a good trader need more and more practice. So we know that many exchanger started demo trading system for practice. I think you told perfect.