Everyone desires to increase their income. That is why trading and investing are such appealing side hustles and even more appealing careers. Many people will attempt and fail to trade. Beginner's luck is real, and most people enter the markets during extremely bullish periods when assets move straight up.

During these times, self-proclaimed geniuses who claim, "it's easy money" and "I'm quitting my job to become a full-time trader" abound. As a result, they are vulnerable to corrections and are unsure how to deal with them. Because of their lack of preparation and understanding of market cycles, they continue to buy dips until they run out of capital and must sell at a loss.

Preparation is required before engaging in any hobby or profession, just as it is for any other. Most newcomers are unprepared to do their homework and learn how markets operate. You must study for hours and hours if you want to be good at something. Perfection is achieved through practice.

This article will show you how to get started in this crazy world without becoming a wrecked noob.

Get ready to learn

Would you take a bet that someone would pay you THB500,000 if you made a free throw with a basketball but you had to pay them THB25,000 if you missed? Yes, if you were a professional basketball player who spent hours upon hours practicing. However, if you've never shot a basketball in your life, you'd pass because 99 percent of people with no basketball experience would miss the shot.

This is exactly how trading and investing work. There's a lot to learn, and everyone wants to make money right away. This causes people to follow some tweets on Twitter or to jump into every large pump they see without understanding what is going on.

Many people end up losing a large portion of their net worth as a result of being overly exposed and putting too much of their money at risk without having any idea what they're doing with it.

Select your signals carefully

It can be difficult to know where to begin learning about markets. Here are my recommendations for where to start.

• You've most likely already joined Twitter. Make sure to follow accounts that share multiple perspectives on assets. You're looking for well-thought-out content that demonstrates logical reasoning.
• Unfollow people who constantly share outrageous upside targets while never mentioning risk management. Those posts aren't going to help you; they're just going to make you feel bad. You're looking for posts that will make you think. Emotions will only get in your way, whereas thoughts will increase your chances of success.

What you should know before beginning to trade

There is no easy way to learn the markets, so you will never find an easy answer. If you truly want to overcome them, you must work hard and study independently.

Here is some critical information you can learn to give yourself a competitive advantage in the market.

- Discover the market cycles

• What does it mean to be in a bull market? What is their mechanism? What happens when they're done?
• What is a bear market, and how does it work? What is their mechanism? What happens when they're done?

- Understand the market cycle's psychology. You can use this to gauge your own market feelings as well as the feelings of those around you. When used correctly, overall market sentiment can be a useful tool.

• Where can you find out more about it all? Google.
• Once you've grasped the concept of market cycles, you can move on to the market structure.

One of the most valuable pieces of information for long-term investing is market structure. Day traders can also benefit from it on lower time frames.

• Study Wyckoff method, a five-step method of market analysis for investment decision making and apply it with the best timing to start investing.
• Knowing what these patterns look like isn't enough. I recommend delving into what each stage of these schematics means, why they happen, and how volume affects the structure.
• Understanding market structure and cycles is the most effective technique or strategy.

The most important thing to remember is to avoid trying to buy or sell the exact bottom or top. You'll waste a lot of time trying to plan for the bottom or the top rather than simply learning to recognize it after it's happened. Remember, we enter these markets to profit. The only way to earn money is to take a profit and store it in your hardware wallet as fast as you could.

Successful traders are always learning

The final piece of advice is to share your thoughts. There is always more to learn, and the only way to learn from others is to publicly share your ideas and ask questions of those more experienced than you.

Are you ready to begin? Here's what you should do now:

• Create an account on a trading platform such as XSpring Digital. XSpring Digital, granted with a license to operate digital asset broker and digital asset dealer services by the Ministry of Finance in Thailand and is regulated by the Securities and Exchange Commission, is a digital asset trading platform using blockchain technology for your digital asset trading and investments, providing you with convenient, safe, and secure digital assets trading experiences.
• Don't be afraid to be wrong; everyone started out as a beginner. We all started out with no prior knowledge. Just be cautious with your money until you feel more confident.
• Study your tail off and accept that you will not become a profitable trader overnight. It will take countless hours of free time to master this. Make some goals for yourself, be honest with yourself, and don't be afraid to fail.