Quote from: lumeire on February 16, 2022, 08:14:18 PM

Quote from: Ararbermas on February 16, 2022, 05:24:06 PM

For me as a day trader i can really say that trading is not an easy way to make money especially when it comes crypto because of beings so volatile of the market .
so for those who wants to become trader but can't afford to lose money i highly recommend to use paper trading first and practice your skills, learn how to have risk management and also build your trading plan before jumping into live trading. just don't rush your situation and must have discipline if you really want to have a good journey in trading..

These are all the right practices that I enjoyed while learning trading for the very first time. The problem what most of the newbie face is that they become very confident after just a few paper trades that went well and according to their plan and they start to trade with real money right off. But the thing is that they tend to loose a lot of money after this process.
They should atleast make 100's of paper trades and mark the entry price and target price right off the bat and if they loose then should understand what went wrong in the trade and try to rectify that loose end in next trades and then only start with a demo account with fake money in it, if successful then only enter in real trades.

Trial and error in your first 100 trades, if you focus with that you'll be able to materialize good trading practices that will let you have good winning chances, never to quickly judge according to how you think the market will proceed, there are many sideways this volatile nature of this industry will keep you lose your money if you just quickly judge your entry and exit position.

Make a good use of all those information that you'll be able to gather online, practice and never stop trying to enhance
your strategy, it will help to increase your confidence.