Quote from: Baoo on May 28, 2018, 10:11:30 PM

Hello guys and gals , it is certain that the field of trading is very profitable, but regrettably, I have seen many beginners start in this area without any knowledge of the basics. In fact, this class always fails and lose a lot of money because of their hastiness or rashness.

So, according to my experience, I want to give some useful tips, and hope they will help everyone, and will be as the following :

1- Read and learn the basics of trading:

-I think the best way to start understanding this field is by reading books related to digital currencies, but unfortunately, the issue that many people read only the first pages of the book, then they stop.

"The more that you read the more things you will know, the more that you learn, the more places you'll go "
-Dr. Seuss
I suggest some books, and they will be as the following :
Cryptocurrency: Beginners Bible:
https://i.imgur.com/vbhcgFt.jpg
Mastering Bitcoin for Dummies:
https://i.imgur.com/MqQLIQT.jpg
Cryptocurrency Trading & Investing
https://i.imgur.com/6XbMY5E.jpg

-Learn how to analyze and deal with different situations ( pump, dump ..) in a smart way. Plus, try to help yourself with yourself, Do not complain and ask for help from the others, because no one is in your place. And even if you fail in the first attempts and lose a lot of money, then It is not the end of the world.
Believe me, learning from failed experiences will help you in order to improve your next choices, and you may start to gain a significant proportion of money.

2-Stay away from media news:

Media are always manipulating traders through some false news and even the social media (Twitter, Facebook..), They may even control what happens in the market (crisis, jump), in order to achieve the interests of some (the capitalists) and regrettably, many believe the information and fake predictions.
" Do not be a sheep and act like a wolf "

3- Be patience and try to be brave , not afraid:
The field of trading is profitable when you are patient and not hasty like many, and of course you must take advantage of the opportunities intelligently.
Fear is one of the most important obstacles that lead to losses, especially in difficult situations (big crash), like, panic selling...

IMO, Courage is by taking the risk, especially when there is an unexpected event (Big drop).
"Big risk, Big gain."

Cheers, Grin

Thanks, Really Valuable Tips for Beginners and here I am sharing a few more:

- Plan your goals. Stick to your plan
- Focus on a single currency pair, expand as you better your skills.
- Restrain your emotions
- Take notes. Study your success and failure
- Dont go against the markets
- Study the markets, fundamentals, and technical factors
- Dont put stop losses too close
- Focus on the daily chart
- Dont trade a lot
- Be realistic
- Dont freak out when a trade moves against you
- Dont get overwhelmed

rayfordadam

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