I'm also beginner in trading. I trade since this summer and I lost about $90 on $120 account. Recently I make $20 on last $34.
Throughout my journey in trading, I read Jack Schwager's book, watched many educational videos on YouTube, read many articles on the educational sections of CEX exchanges, and also talked with many traders. It seems to me that I understand enough about technical analysis, trading systems and trader psychology. But I'm at a dead end and don't know what to do next. Other traders advised me to just trade, but I think that over time I will lose my remaining $45, and demo trading does not bring such emotions and I don’t want to try hard when trading it
It Good that you did not give up despite losing 90 out of 120 i lot of people would have sold everything and conclude that they are no longer interested. Just noticed that most if this exchanges have academy that can put you through in what ever you want to learn the basics starts from there. And understanding enough is wrong because if you understand everything then you won't lose any money but as it is even professionals lose money so their are days that your analysis can fail you. Despite trading looking easy it is not easy at all. There is no way you won't lose money but I think their things you are missing out because you can not be losing money like that and since you have your emotions worked on. Then given up is pointless.
All traders new to trading and veterans should follow the same strategy. You lost $90 out of $120 because of your mistake. It is always better to buy from the dip while trading. You may have bought from a market which results in a lot of losses if the market goes down further. If you can get enough knowledge about trading then that is good for you but watching videos from youtube will help you more if you can try yourself but always remember don't be greedy in trading platform if you are greedy. Then you will not be successful no matter how much experience you gain in the trading platform.
Exactly what I was saying if the measures of safety have been put in place then it will be difficult for to just lose 90 dollar. For just one trade if that how people lose money while trading. People would have avoided it. Loosing that amount of money is the person fault and if he wants to continue he should take responsibility for his actions. From yesterday the price was done its a perfect opportunity to buy then trade from their. Looks as if the trading was on a zero knowledge and that might be the reason for the lose. Any were he wants to learn is good but understanding is what is important. As a trader making sure you are on the right path is something that should drive you always.