Be knowledgeable before thinking of trading.

[Penlex_Writer]

Having a proper risk management is for sure a big help to anyone who wants to be a trader in the field of Crypto or Forex. Because if you don't know or learn this, I think you will still be lacking as a trader. Then you should also know the characteristics of a responsible trader.

It's not enough to just have knowledge or deep ideas about trading, you should know the real cycle or movement when you are actually in the actual
momentum of crypto trading.

I totally agree with you,having an idea is cool,but you still needs to experience in other areas,trading needs ab idea with a better trading experience.

[SmartGold01]

It will be more difficult for us especially if we skip to advance without studying the basics. If we only learn the basics when we have already advanced trading analysis and lost already some of our trades, it is possible that we will be more confused and it will be more difficult on how to connect the basics to your advance learnings. This is also the reason why mentors teach the basics before they continue to advance.

Without a doubt, there can be no real value in advanced level without basics because if one does not learn basic, one will not be able to learn advanced level. Rather, if one applies it instead of learning at advanced level, then one will not get any output except loss or failure. And besides, I think basic knowledge is the ladder to the advanced level. Just as you can't climb to the second floor of a building without stairs, you can never reach the advanced level without basic knowledge.

Trading is of different stages and level, and of course you can't achieved any higher level without them getting the basis otherwise there would error while trading. This will cause series of lost, failure as you have said. The basic level gives us a push up to the next level or advance level, when you have all the technicalities you can trade without having to fear about any risk because before then you have learned about risk management.

[Chilwell]

Trading is of different stages and level, and of course you can't achieved any higher level without them getting the basis otherwise there would error while trading. This will cause series of lost, failure as you have said. The basic level gives us a push up to the next level or advance level, when you have all the technicalities you can trade without having to fear about any risk because before then you have learned about risk management.

Indeed, every pursuit that yields positive outcomes, including trading, involves a progression of levels, steps, or stages. Acquiring knowledge of the fundamental principles and concepts is essential for navigating these stages successfully. Having a solid grasp of the basics enables you to transition seamlessly from the lower stages to the more advanced levels of trading. As you progress, the knowledge you've acquired serves as a foundation, allowing you to manage and maintain your trading activities with greater ease and confidence.

When you have a lot of knowledge, you can make smart choices, and you will be able to prevent big mistakes, and adjust to changes in the market. This knowledge is the strong foundation that helps you to build a successful and a long lasting trading business.

[ajiz138]

Basically as humans we sometimes think that our knowledge is already at a very good stage so that we can start doing something, including trading.

But actually we are not really at the stage where we are ready to start trading. But that is not a problem as long as we can fix it over time, because some people say starting to try is something that can be done because with that we can gain experience.

[dekafee79]

Basically as humans we sometimes think that our knowledge is already at a very good stage so that we can start doing something, including trading.

But actually we are not really at the stage where we are ready to start trading. But that is not a problem as long as we can fix it over time, because some people say starting to try is something that can be done because with that we can gain experience.

Like many member comments that I read in this forum, trading takes a long time to be able to be skilled in making analysis and also developing the right strategy. As newbies we should be able to learn and study analysis and understand the character of the crypto market, so we can start learning to trade in order to train our skills. because becoming a professional is not easy and takes a long time.

[|MINER|]

Trading have a wide knowledge,you must learn the basic foundation as a beginner,trading is not a platform you rush into,according to traders they say knowledge is power,you must know the broker to trade with,and also trading brings out patience in you,and remember you must start small and know your limits of trading.

Among the few difficult things I have seen, trading is the most important. Trading is a very critical subject. Psychological power, and knowledge and practical ability are all necessary to be a successful trader.
Otherwise, there are lots of trader who were just doing trading without having any proper knowledge about trading. And at the end of the day were those trader who were was just booking losses in there portfolio. So it is obvious to learn first and have knowledge then start trading.

[ajiz138]

Basically as humans we sometimes think that our knowledge is already at a very good stage so that we can start doing something, including trading.

But actually we are not really at the stage where we are ready to start trading. But that is not a problem as long as we can fix it over time, because some people say starting to try is something that can be done because with that we can gain experience.

Like many member comments that I read in this forum, trading takes a long time to be able to be skilled in making analysis and also developing the right strategy. As newbies we should be able to learn and study analysis and understand the character of the crypto market, so we can start learning to trade in order to train our skills. because becoming a professional is not easy and takes a long time.

That is something true and even someone who can be said to be a professional still experiences losses, especially if they are beginners. Of course it will take a longer time to be able to understand everything.

If we use an analogy as a glass, we must be like a glass that is always empty so that we never get tired of looking for water so that we can be filled with water (knowledge), because if we don't, then maybe we will become someone who feels the greatest and right.

[Mr. Magkaisa]

Having a proper risk management is for sure a big help to anyone who wants to be a trader in the field of Crypto or Forex. Because if you don't know or learn this, I think you will still be lacking as a trader. Then you should also know the characteristics of a responsible trader.

It's not enough to just have knowledge or deep ideas about trading, you should know the real cycle or movement when you are actually in the actual
momentum of crypto trading.

I totally agree with you,having an idea is cool,but you still needs to experience in other areas,trading needs ab idea with a better trading experience.

          -      Knowledge and idea without experience is still useless in my opinion and there is a lot of evidence for that. Because I have also witnessed many people who have experience know more than those who know in terms of theory. And this has been proven and tested over the years.

After all, only those who have experience are those who have completed a degree course compared to well-experienced people, even those who are under-graduates of a college course.

[Penlex_Writer]

Actually, trading is one of the best earning process in cryptocurrency market. Because we know that many professional traders could be earn best profit from cryptocurrency market. So if we want to a successful traders, we must be understand in cryptocurrency market and trading system. Because if we can not acquire knowledge from cryptocurrency market or trading system, then earn best profit from cryptocurrency and trading will be very hard for us. So I believe that acquire knowledge in cryptocurrency market and trading is very important issues for earn best profit.

for we to understand cryptotrading we need to have that experince or knowledge,without the experience or knowledge you can loose everything in a minutes,you have to take your time atleast study and research before investing your money.

[Penlex_Writer]

As what I understand, trading is a never-ending cycle of learning...aside from technical matters you will also learn a lot from your mistakes especially when you made a loss and then you also learn from the strategies as well as mistakes of other traders. Now, actually you don't have to be a genius to start trading as long as you really have the passion, time and some capital that you can use in this industry. Trading is open to anyone but of course trading is not for all people as this is not as easy as walking in the park and yes there are many opportunities for wealth generation here as well as many possible risks involved. So one has to be careful while looking forward to soon experience financial freedom gained from working anywhere and anytime you wanted to.

yea i agree with you,in trading it is very useful to carry out regular reviews of past trades and observe if something different has taken place.

[Penlex_Writer]

Having a proper risk management is for sure a big help to anyone who wants to be a trader in the field of Crypto or Forex. Because if you don't know or learn this, I think you will still be lacking as a trader. Then you should also know the characteristics of a responsible trader.

It's not enough to just have knowledge or deep ideas about trading, you should know the real cycle or movement when you are actually in the actual
momentum of crypto trading.

having a proper risk management is very important when the knowledge is there,you need to be guided about the characteristics and basics of trading.

[Penlex_Writer]

Trading have a wide knowledge,you must learn the basic foundation as a beginner,trading is not a platform you rush into,according to traders they say knowledge is power,you must know the broker to trade with,and also trading brings out patience in you,and remember you must start small and know your limits of trading.

Anyone can trade but not everyone can make profit. If you want to make money from trading, you must equipped yourself with Trading knowledge, the basic to the top of your game otherwise you will lose everything, I mean literally everything that you used in trading if you are not careful, it looks so easy when you look at it but complex when you spend time in it.

The illusion of bull run makes people want to believe that trading is not hard because you can make profit easily but that's not how it work, bull run is just one season of the market, there are other phase that are not full of roses.

yeah, everyone can involve in trading but not all can make a profit why because they are not equipped,when you don't have that proper knowledge you loose everything in a seconds,they don't perfect trading in a month is a continous research.

[Penlex_Writer]

Actually, trading is one of the best earning process in cryptocurrency market. Because we know that many professional traders could be earn best profit from cryptocurrency market. So if we want to a successful traders, we must be understand in cryptocurrency market and trading system. Because if we can not acquire knowledge from cryptocurrency market or trading system, then earn best profit from cryptocurrency and trading will be very hard for us. So I believe that acquire knowledge in cryptocurrency market and trading is very important issues for earn best profit.

cryptotrading is a platform where people earn a better profit yes but if you lack the knowledge of evaluating the trading market then you loose instead of earning,so in conclusion trading without knowledge is a waste effort.

[Bobcrypto]

You need to work on your content construction. Also you need to learn about the risk management in trading before giving anyone advice. The topic is too basic and also not well explained.

you must know the broker to trade with

This is not forex or those traditional markets that require brokers. Crypto traders make use of crypto exchanges. Although, some brokers may list bitcoin and few other cryptocurrencies.

Trading crypto on the brokerage platforms like trading FX, stocks, commodities etc, is not suitable with crypto trading because crypto has it own model by the use of CEX and DEX exchanges. I have tried some of this brokers, it quite unfortunate that this brokers has no spot trading options, you only have margi and future options.
Again, the leverages options is fully controlled by the brokers systems, they determined how much leverages you take for a trade, unlike the crypto exchanges, traders decides the amount of leverages for a trade.

[Gposas]

With comments I've read from users on OP's topic, it is clear that trading is highly based on knowledge, understanding what drives the market and why the market trend in a particular direction. (A combination of both fundamental and technical analysis).
Another part in the aspect of trading is the psychology effect, this also is an area traders has to look into especially as a beginner to avoid negative impact on the body system in general. Most people without getting proper knowledge in trading will just put in some funds and start trading blindly, just hoping that they'll turn a billionaire overnight and unfortunately for them, the market breaks their position and boom... They're being liquidate...
The next thing you'll observe from them, whatever money they lay their hands on, they want to use it to trade and because of anxiety and improper analysis, they keep loosing and loosing and loosing until they loose all they've ever had to the market...
And this place a very huge negative impact on their psychological health, and with most people, u'll see them start calculating how their status was when they were not yet trading, and how much they've lost when trading and also how they are as they've lost all in trading and this possibly causes one to think of commiting suicide..
It's a very great advice that you learn, grab the essential knowledge on how to trade before you start putting funds and also TRADE AS MUCH AS YOU CAN AFFORD TO LOOSE