Best advice to traders

[Oshosondy]

The problem of losing money in trading starts from looking for fast ways of making money. Traders should know how they are managing their trading fund.

If a trading fund is 10% of your salary, you can save it up to the amount that you can be able to trade with. Let us say you are receiving $250 weekly. You save $25 as trading fund weekly. You can save it until when it is $1000 which will take 40 weeks or $500 which is 20 weeks or $250 which is 10 weeks. Can you traders do that? Most traders will use low amount to trade and continue to lose.

Patience is very important in trading. We think we are patient but we are not.

From the $1000, do not use more than $10 to $25 for trading on a single position. $100 for bitcoin but $10 for altcoins. You can grid, average or grid/average it up to $100 for altcoins while $1000 for bitcoin if the price is not favoring you.

Do not go more than that.

If you are still losing, just wait patiently. But know that altcoins are very volatile and expect disappointment but if you are good in grid and average trading, this can help you.

You can learn more about trading strategies but how to manage your trading fund is very important. It will not make you panic because you will earn little or lose little, but it gives you a means to still be able to recover your loss and make money over time.

But most importantly, know that you can lose in trading. Use low amount of money until you are confident of yourself. A month of winning is not enough to be confident that you can be winning in trading but at least a year of winning.

[Sanitough]

That’s definitely better because you have solid capital but this requires tight discipline.

Most traders treat what they're doing like gambling. For example, they have $100 but aim to make $1,000. Meanwhile, disciplined traders who take it slow and consistent would rather have $1,000 and aim to gain just $100, they're already happy with that.

So it really starts with saving a decent amount before trading. I wonder how many traders can actually do that, especially if they’re only earning $250 per week. In the end, it all depends on focus to the goal.

[Davidvictorson]

I agree, some of the best trading advice is here and here's how I understand and interprete them to myself.

• The fastest way to make money trading is also the fastest way to lose it. There are no shortcuts.
• No matter how good your trading strategies are, if you don't learn how to manage your personal trading fund, you will continue to lose.
• Patience is a key formula for trading success
• Do not live with the illusion that because you won in month A you will also win in month B. Being overly confident is what also leads to a loss. Even when you win in the first month, do not be in a rush to increase your trading fund.

[EL MOHA]

You can learn more about trading strategies but how to manage your trading fund is very important. It will not make you panic because you will earn little or lose little, but it gives you a means to still be able to recover your loss and make money over time.

But most importantly, know that you can lose in trading. Use low amount of money until you are confident of yourself. A month of winning is not enough to be confident that you can be winning in trading but at least a year of winning.

This is clearly the best advice one can give to any trader, you can have a trading strategy that is good and also works well but your risk management will definitely determines the success of your trade. It is the lack of good risk management that we see traders loss everything in one trade, most of the newbie traders or those looking to make money fast from trading usually after a few win starts to use large amount to trade or open big trade positions and this is why they lose.

One thing again that a trader needs to take as advice is never to be scared of losing because losing is part of the trading, the best of traders today turn their loses to lesson. As a trader once you lose you don’t need to enter such trade back again or do what I call revenge trading but rather you should simply just backtest your trades and see where the lesson comes from.

Risk management is the fundamental part of been a successful trader, a trader that can manages his funds well can easily be a successful trader than one that cannot

[Hyphen(-)]

If a trading fund is 10% of your salary, you can save it up to the amount that you can be able to trade with. Let us say you are receiving $250 weekly. You save $25 as trading fund weekly. You can save it until when it is $1000 which will take 40 weeks or $500 which is 20 weeks or $250 which is 10 weeks. Can you traders do that? Most traders will use low amount to trade and continue to lose.

Patience is very important in trading. We think we are patient but we are not.

This is where the problem starts; most new traders can't be patient enough to accumulate such capital before they start trading. They do prefer to trade with the little money they have instead of accumulating the money while they keep learning before they can use the money they accumulated to trade because they can never have a successful trade, which means they have to be losing and gaining in their trades, and if they use the little $10 they have to trade once, if the money gets liquidated, they don't have another one to go again, and this will result in them losing confidence in trading because they can't keep practicing to maximize their profit.

From the $1000, do not use more than $10 to $25 for trading on a single position. $100 for bitcoin but $10 for altcoins. You can grid, average or grid/average it up to $100 for altcoins while $1000 for bitcoin if the price is not favoring you.

Do not go more than that.

If you are still losing, just wait patiently. But know that altcoins are very volatile and expect disappointment but if you are good in grid and average trading, this can help you.

You can learn more about trading strategies but how to manage your trading fund is very important. It will not make you panic because you will earn little or lose little, but it gives you a means to still be able to recover your loss and make money over time.

But most importantly, know that you can lose in trading. Use low amount of money until you are confident of yourself. A month of winning is not enough to be confident that you can be winning in trading but at least a year of winning.

This is good advice for traders; it will prevent losing all your capital at once, and you will earn a lot of profit and experience as a result of these processes.

This is a risk management process that every trader will want to have so that they can minimize the rate of losing money to trading, and these methods will even improve the trader's knowledge about trading and will make the trader more confident in trading.

[HONDACD125]

The best trading advice: Trading is not suitable for newbies.

Yes, I said the right thing. Someone who has just entered this space shouldn't be chasing profits through crypto trading because that's the wrong thing to do as a newbie. The first thing for a newbie to do is to just watch and learn, gain as much knowledge as possible, maybe make small investments in Bitcoin while you are learning since you know it's the best cryptocurrency and holding it long can at least get you something, but, don't think about trading and the profits you can get from it because that's not yet your cup of tea.

Trading is for those who have been around for at least some time, have learned most of the things and know how the market works in general, what trading practices are there, what are the tools and everything called and what they are used for in trading, how they can read the market movements and should know how the market moves in general based on historical data. Once someone knows all those things, then they can think of getting into trading, before it, it's like wasting your money.

[Odusko]

The only question I can think about right now is.
What happens to your weekly set aside capital, because from your analysis you never make mentioned of wether there are profits merging from the weekly $25 set aside founds for trading and what happen with in your trading time, quite sure that traders that go along with this form of analysis are those that trade like investing e.g DCA approach but this time it just that you are not converting your stable USDT asset into Bitcoin or other assets piar for the trade purposes.

[Frankolala]

Trading is not a get rich quick scheme because the risk is very high. You cannot make profits in the long run no matter how experienced you are in trading. This is why you should only use an amount of money that you can afford to lose and don't open a position when you don't understand the market. Be contented with your little profits and don't be greedy. Use stop loss. A big capital for trading is not a guarantee that you will make profit.

[Oshosondy]

The only question I can think about right now is.
What happens to your weekly set aside capital, because from your analysis you never make mentioned of wether there are profits merging from the weekly $25 set aside founds for trading and what happen with in your trading time, quite sure that traders that go along with this form of analysis are those that trade like investing e.g DCA approach but this time it just that you are not converting your stable USDT asset into Bitcoin or other assets piar for the trade purposes.

This is different from investing. Read the OP again to understand my points very well. Traders believe in using all their money for trading, going for stop loss and many other approaches which are not helping them. Later they will noticed that they still make mistake, emotionas change their trading plan and lose all the money. They are losing because they are not patient enough which this thread is all about. Their must be patience in your strategy used for trading.

[Japinat]

At the end of the day, trading is still susceptible to losses, so trade only what you can afford to lose. Your trading funds should always be an amount that you are comfortable to lose, otherwise if you trade using your hard-earned money that will be used to pay your monthly bills hoping the amount will double or triple, that will only create pressures on your part that will push you to trade and lost your focus, thus you will most likely end up with a trading loss and eventually regret your wrong choice of decision.

[Questat]

Do not jump into trading using a big amount just to make you get rich in the process, that will only put your trades into high risk of losing. Know that traders often lose than gains, so always keep your trading funds manageable to lose.

And most of all, when you trade, start saving until you reach a sufficient amount, do not rush into taking a loan, because that is a very wrong mindset for traders, once they start losing, everything they have will be at risk to lose forever, so it’s best to start trading from saving something that it’s okay for you to lose.

[tvplus006]

I can't understand why everyone ignores risk management, even though it's exactly what allows us to keep our balance sheet. Until you learn how to save your deposit, you will not be able to make a good profit, as your losses will nullify your trading efforts.

[_act_]

And most of all, when you trade, start saving until you reach a sufficient amount, do not rush into taking a loan, because that is a very wrong mindset for traders, once they start losing, everything they have will be at risk to lose forever, so it’s best to start trading from saving something that it’s okay for you to lose.

This is very important in trading but many traders will noticed that once they have little amount of money, they will prefer to use all to trade at once and not have any risk management which is making them lose. A trader that is able to control himself and not trade until he reaches his savings goal means an habit of patience and this might help him.

[Ishicryptic]

That’s definitely better because you have solid capital but this requires tight discipline.

Most traders treat what they're doing like gambling. For example, they have $100 but aim to make $1,000. Meanwhile, disciplined traders who take it slow and consistent would rather have $1,000 and aim to gain just $100, they're already happy with that.

So it really starts with saving a decent amount before trading. I wonder how many traders can actually do that, especially if they’re only earning $250 per week. In the end, it all depends on focus to the goal.

This fund management strategy is very good for traders that wants to stay profitable on the long term, not knowing how to manage funds in trading will lead to greed and eventually loses. Disciplined traders will have $1000 and aim to profit $100 while insistence and greedy traders will have $100 and they will aim for $1000 profits. The difference is the mentality that they have before entering their trades, one has mastered trading and understands that patience and using small funds pays. Meanwhile majority of traders wants to use a smaller funds to make huge profits. This is indeed one of the best trading advice that I have ever learned, it is not enough to have strategies, you need to have funds management strategy to stay profitable.

[Moon00]

The best suggestion for New Traders is to gain knowledge about the first one. It should be mastered in such a way that all kinds of strategies can be adopted later. However, some must keep in mind, if you want to successfully trade, do not think about profit at the beginning because if you acquire knowledge, then all the tracts will be successful and you will easily earn good money. Below are some suggestions for the Trade.

You have 500 dollars. So the work you do not do is not spending all the funds on a trade. Although Trade has a lot of risk, trade with 50% or 75%.  If your loss then you will have enough money to recover later. I think it is possible to make good amount of money with a small amount of fund.

[$weetne$$]

But most importantly, know that you can lose in trading. Use low amount of money until you are confident of yourself. A month of winning is not enough to be confident that you can be winning in trading but at least a year of winning.

After winning a trade, there is still no guaranteed that you are going to win the very next trade that you take therefore do not use winning some trade as a confidence booster to go off your strategy. My best advice to traders or those aspiring to become traders is to get a mentor first and not fake ones but real ones that will help guide you because it will save you alot of stress and money when you have someone that can mentor you to become a successful trader. Also for the budgeting part, it must not be that exact amounts that the OP is using that you will use too because some people will take this advice literally with the mentality that if they make use of the advice. That they will be seeing profits but it would not work out that way. Try different strategies until you get one suitable for you.

[Awaklara]

But most importantly, know that you can lose in trading. Use low amount of money until you are confident of yourself. A month of winning is not enough to be confident that you can be winning in trading but at least a year of winning.

The inability of traders to manage trading funds certainly makes trading difficult. Even some of those who start trading do not divide their funds well. Actually do not understand how to manage finances well.

Quite a lot of traders start trading with the understanding of making a profit in a short time. Only with initial knowledge, many novice traders are brave enough to take the risk to trade with large amounts. They do not really realize how the development process takes time to be successful. Many are not patient enough in the process.

[MarjorieZimmermanGinger]

But most importantly, know that you can lose in trading. Use low amount of money until you are confident of yourself. A month of winning is not enough to be confident that you can be winning in trading but at least a year of winning.

The key not to be greedy and continue to learn a measurable strategy so that involvement in trading can maximize the losses that occur. Sometimes even one year is not necessarily enough to fully learn about trading because it may require adjustments in it. It is better to use small capital when practicing trading so that we can minimize risk much more easily because it is impossible for us to guarantee measurable profits when involved in trading. Never force big profits because it will destroy us faster and this often happens among beginners when involved in trading.

[passwordnow]

But most importantly, know that you can lose in trading. Use low amount of money until you are confident of yourself. A month of winning is not enough to be confident that you can be winning in trading but at least a year of winning.

Newbies need to hear this out. If there is a way for us to make some money then there is a risk involving that. And even before we're able to make one, we need to look at how it's being done. So, if there is a way to profit, there is also a way to lose it before even profiting. The newbies are making it look easy deceiving themselves when they see the experienced ones shared how they're able to dominate and earn from the market. they need to look at how these winners went through and it's not even a month of experience before they win, it takes time, a long time and a lot of money to lose first.

[Rruchi man]

The problem of losing money in trading starts from looking for fast ways of making money.

Thinking that trading is a fast way to make money is probably from the mindset that has been absorbed by the new trader based on the opinion of others around him. Even some traders who do not start this way later end up believing this, probably because of the association of people around them, the association they keep. If a new trader is surrounded by individuals who are patient in the market and believe in the benefit of building wealth slowly from trading, the trader will develop the mindset to know that trading is never a fast way to make money.