Advice for newcomers looking to trade

So as the title goes, newcomers often jump into crypto thinking it’s a fast track to riches when they start trading. What’s the best tips you all can share to help these newcomers navigate their trading adventure? Personally, I think newbies should trade only with money they can afford to lose and avoid using high leverage since trading is super risky. Prioritizing long-term investment in bitcoin makes way more sense.

Once thing newbies like me fail to understand is that you must learn before you earn, so they should first go for knowledge in technical and fundamental analysis before diving into the market. Another advice I have for newbies like me is that patience is key, you can't make money in trading being in a hurry, calm down and follow due process, the money will come at the right time.

If a person is new to trading, I think it is best to know and understand the basics of trading.  So I suggest not jumping into trading as soon as you think you have the funds to trade.  Know first what you are doing.  I think that is one of the basic rule to avoid unnecessary loses. If the person have learned enough, he can try his acquired knowledge by practicing on a mock trading platform.  This way he doesn't need capital to have a first-hand experience of trading.  And when all is set and the person has done all the preparation, then I think it is then that he can try the actual trading.

How many times has this been discussed in this forum, so many times than i can even count and the replies you are going to get is the same, nothing changed. If newbies can help it, they should not trade, that is the best advice they can get, that said, if they want to trade, they must do so after they have spent sometime learning how to trade and acquiring the skills they need to do so, risk management is also very important, in addition to how they manage their funds.

Don’t rush into trading without sufficient knowledge and skills. Otherwise, all your time and money will be wasted knowing trading requires long-term preparation prior to entering real trading. Know that trading is certainly hard and risky, now if you start trading with lack of knowledge and experience in the market, you are not minimizing your losses while trading but in reality, you are only increasing the rate of risk you are going to suffer while you are trading.

Every trader started out as a newbie at some point. Only advice is for them to do their full research before they get into it and apply good financial management. All traders should only trade with amounts they can afford to lose and not use high leverage.

You know trading is not as easy as buying and hodling alone, one wrong decision will eventually change the final outcome of your trade, that’s why if you only trade for the sake of quick income, believe me you will never achieve it. It’s better if you prioritize learning first and skills development so that you will increase the potentials of winning your trade, rather than seeing yourself losing and getting frustrated in the end.

We can’t stop these newbies if they really want to trade, so the best thing we can do is at least guide them so that their trading journey will never be so much tough and hard like other traders. One thing I can advise is, always see trading as a serious matter. Otherwise, you’ll be flooded with mistakes and losses, until you realize to just quit from trading. Although it’s okay to commit mistakes and losses, but if you can minimize committing them, then do it so that there will be less regrets in the long run.

There are lots of things newbies are suppose to know before you start trading. Before newbies start trading, they should know that trading is not a get rich quick scheme, they should know that trading is full of profits and loss, and when trading always learn to manage your risk, don’t trade with everything you are having, trade with any amount you know you can afford to lose. Also as a beginner in trading, always avoid future trading, the risk is just too high for newbies, always trade on spot, then you can keep on growing.

Greed is one of the biggest bad habits in trading. If a newbie can manage to keep their greed in check along with go risk management, then they will be a step closer to not blowing up their accounts after a single trade. Also, knowing that trading involves both making profits and losses at any time helps the newbie trader to avoid getting disappointed in the long run.

Just trade if that’s what makes you fulfilled in life, but always be prepared for its future losses. Trading gets more risky especially if you start trading with less knowledge and experience in dealing with the market uncertainty. But that’s okay, the more mistakes you will face, the bigger losses you will incur, the higher your motivation to improve  your trading performance will be. Success in trading will only be possible if you are open to different learning experiences and failures in your trading journey. As long as you remain positive on it no matter what.

I would recommend a beginner to refrain from trading, as I am sure that he is 100% likely to lose his money. And the later they start trading, the less money they will lose. You should know that according to statistics, a trader begins to receive a stable profit only after 3-5 years of training. Are you ready to go that way?

Nothing is easy at first - but with time things may get better. Today's professional traders are those who came with their imperfections when they started - but over time they learned, enjoyed and developed into professional traders. Today's beginners certainly don't know much - but if they are willing to learn and are consistent - then trading can change many things in their lives. I don't want to suggest anything complicated - but start with your imperfections. There are many ways to develop your skills - there are books on technical analysis that can be read as a guide, then try something small and go big with it. It is not necessary to trade on futures - Avoid future trading for now , they can try at spot trading. But one thing - don't be greedy, you won't get rich overnight.

1. Finish a course on babypips.com 2. Once you have done, then do demo trading. 3. Once familiarize with demo and the indicators, then test out small amount balance real trade 4. Apply your strategy that been learned through demo 5. Learn from your mistakes and apply risks management 6. Control your emotion 7. Control your greed 8. Be versatile and always set up back up plans Learning up trading skills is never been easy but once you do able to have a good grasps into it then it could changed up your life forever since you do know on how to make money towards the market. Somehow, there's no such thing about being a perfect trader but whats the most important thing on here is that you do really know on what you are doing and you've that become consisitent on which this is the most important thing of all. It all matters about on how you would be able to sustain and learn up things accordingly along the way. Most of the learning could be picked up or learned up based on real experience. The more time that you do have spend yourself towards the market the more experience you would be. So it will be that just depending on a certain individual on how they would be handling it out.

This isn't good advice for a newbie if you think of it, no knowledge will lead you to lose the whole capital, even if it's a small amount. High leverage is risky, yes, but newbies shouldn't start with real money. I always suggest starting to learn about trading, how to analyze, how to read the chart, price action, and structure. We have many sources to learn about trading for free I will give the two links below that surely be enough to learn trading. - Technical Analysis - Mastering Chart Patterns Once a newbie learns from this, then I suggest use the paper money on TradingView and testing their skills, finding a strategy, and optimizing it. Backtesting should always be needed if you want to speed up testing any strategies you learn from the provided link above or you learn from YouTubers. TradingView always had a free trial for 1 month, so don't waste the one month; keep testing a strategy and use that advantage because before the end of the month, you can stop the subscription to avoid paying the monthly subscription.

I would not blame all of these into newbies alone, as they are just being influenced by those pretending good traders all over the social media. So as a newbie who lacks the basic knowledge about trading, it’s expected that they will fall on whatever the words of those good traders they have seen discussing in the internet. My advice is, take through research first and understanding on how trading works, its pros and cons to you as a trader who is still learning the process. And once you have absorbed it well, then trade if you think you are ready for it. But just start trading with a small amount. Newbies are still susceptible to losses, let those losses mold them  to be better traders in the future.

That's true, but veteran or experienced traders must've already heard this phrase a dozen times and really doesn't need reminding and newbie/inexperienced traders, at least most of them may probably not have even heard about it, so I believe this advice would be a lot more profitable for the newbie traders. Just like the OP said, many of them believe trading is a get rich quick scheme, and awful misconception that was either gotten online or people claiming to live off of their trades, flaunting the latest cars and lifestyles. This is actually enough to make a newbie wanna delve into trading without actually evaluating the risks involved.

One thing you most understand is that most of this newbies doesn't always listen to advise from the high rank Members. More especially when they hear anything quick money they would not even care to do research anymore, until they finally learned their lessons. However, I think is pretty obvious that trading is more about losses than profits so as a newbie the best way to overcome frequent losses in trading is by using a small amount that we not affect you because is all about risk through out.

There are many advice to give to someone coming into trading, my first advise is; it is not a get rich quick scheme it is rather a long journey of seeking knowledge, losing money and not been perfect. Newbies need to understand that what they see in the social media is stereotype or wrong narrative of trading. Another advice is one month mentorship class from those self acclaimed professional traders on social media doesn’t makes you an expert of the back, those classes only covers the basic aspects of trading, the major part of bitcoin knowledge is self learning through personal trading. Third advice is; using high leverage without proper risk management is pure gambling with very high risk of losing. Risk management should be your first step in trading and always have a stop plus at your risk tolerance level. Investment is the easiest and the most less risk way to make a profit out of the market most especially on coin likes bitcoin

Not all beginners trade with the belief that it is a get-rich-quick scheme, but in their minds there is a question whether the amount of money that is the first capital after making a deposit will be lost. Going up another level up from their level, I think they will do with the patterns and strategies they learned so the question arises whether they can make a profit. Get to know the trading application well. Do not force to target profits and let go when losing money. It's even better to try on a demo account. If you have to lose, then what you lose is not real money.