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Quote from: Sakanwa on February 21, 2023, 12:59:02 AM

Someone met me and we were had a conversation on trade and he told me that he has used all he has been saving for trading and asked me if he can make something out of it and I asked him if he had any knowledge about it and he said no.

My question is can someone that doesn't have any knowledge about trading and how the system work can he or she trade and be profitable in it? Since at some points it has some compliments bof luck.
After some time of discussion, he has been told that it's just for them to choose on the candles sticks if it's up the they want to choose or the one going up just with this idea can they trade with such an idea.
so I wan to know if it's right for the person to begin trading?

Trading can be a rewarding venture, but it's crucial for beginners to approach it with caution. The financial markets are complex and can be volatile, making them challenging for newcomers. It’s important to start with a solid foundation of knowledge, understanding the basics of the markets, different trading strategies, and risk management techniques. Many experts recommend beginning with a demo account to practice without financial risk. Additionally, investing in education and possibly seeking guidance from more experienced traders can be incredibly beneficial. In summary, trading can be good for beginners if approached thoughtfully, with a commitment to learning and a clear understanding of the risks involved.

Yes trading will be able to provide us with benefits, especially having additional income if we treat trading activities in accordance with what is recommended by common sense, because obviously when from the beginning you understand the whole world of trading then I am sure that you will not be too inclined to think about how to make a profit but you also will not dare to ignore the risk management aspect because after all trading is always about decision-making activities that involve risk.

Usually people who come with too much stimulated by the profits achieved by others then they will usually be more inclined to the profits alone without paying attention or even preparing something very important to minimize or prevent the occurrence of dominating and significant losses which in the end yes obviously market fluctuations will trap them in many losses. Yes that's right, the first step that beginners should do is to learn about the basic concepts of the world of trading, how to trade, learn strategies, prioritize risk management and also have good money management and self-control, because this is what will allow you to make profits along with being able to prevent you from the possibility of significant risk. A demo account can be a great alternative for initial basic learning to understand the market situation as well as understanding all the features of the trading platform, and my opinion is that you will have a chance to achieve your goal of success when you treat trading the right way and avoid all the restrictions and also do not forget to work hard and always be consistent in learning.

yes, and I can add one more perspective, another critical dimension that often goes underappreciated is the psychological aspect of trading. The emotional rollercoaster that traders can experience, especially when faced with the volatile highs and lows of the market, can significantly impact decision-making. It’s not just about having a solid strategy and understanding the technical aspects, it’s also about managing your emotions and staying disciplined.

For instance, the fear of missing out (FOMO) can drive traders to make hasty decisions, entering trades at inopportune moments simply because they see others making profits. Conversely, fear of loss can lead to holding onto losing positions for too long, hoping the market will turn in their favor. These emotional responses can derail even the most meticulously planned strategies.

Therefore, cultivating emotional resilience and discipline is as crucial as developing technical expertise.